Exchanges' $10 Billion Merger Shapes up Walmart Hunts for a Way In

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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 clearly 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. The re- Bachman crashed Weiner’s smoke. And while shrink as stimulus Observers say the programs have port estimates that the funds have onto the national I’m sorry we now had a positive impact. helped 3,000 people to escape un- scene, New York fall creates won’t get to see a money dries up Carl Hum, president of the employment and 1,900 to get high- was a fertile another job new mayor tear Brooklyn Chamber of Commerce, er-paying jobs. source of bold fe- out bike lanes as a BY SHANE DIXON KAVANAUGH said business in the borough has re- Meanwhile, the city has added male politicians. opening for first act in office, bounded in part because the pro- 59,000 private-sector jobs and shed Ruth Pratt, a a woman as Mr. Weiner Millions of federal stimulus dollars grams provide on-the-job training. 15,000 government positions. Republican from reportedly once pumped into the city’s work-force “Nine times out of Others ques- the Standard Oil vowed to Mr. development programs will run out 10, we’ve seen em- tion the impact family, sat in Bloomberg to do, this month, and the resulting loss of ployers actually The funds have of the work-force Congress during I’d like to think job training could threaten econom- keep on the programs. “I don’t the Depression. Shirley that the perspective a woman ic growth, a new report warns. trainees that they helped 3,000 know how badly Chisholm, elected to the would bring to that post Programs to employ young peo- take,” he said. these programs House in 1968, ran for presi- would be just as refreshing. ple, assist job But at the end people escape will be missed,” dent in 1972. Bella Abzug “Until Congresswomen seekers and help of last year, there said Richard was in Congress,and then ran start sexting unsolicited pic- workers find bet- were 96,000 New unemployment Greenwald,a sen- for the U.S. Senate in 1976 tures of their vaginas to con- ter-paying posi- Yorkers who had ior fellow at the and mayor in 1977.Elizabeth stituents half their age … it tions will be been unemployed Manhattan Insti- Holtzman served eight terms can hardly hurt to try a differ- eliminated or for more than a tute, a conserva- in the House and was city ent approach,” Leslie Ben- drastically cut year. Unemploy- tive think tank.“It comptroller in the early netts wrote last week for The once the city fin- ment for those is not as if the city 1990s.After six years in Con- Daily Beast. Carl Hum ishes spending without a high school diploma hov- had planned for these funds.” gress, Geraldine Ferraro be- Power might have the the $86 million it ered at about 15%; the city’s overall The city’s Summer Youth Em- came the first woman nomi- same corrupting effect on received for job training from the jobless rate was 8.9%. ployment Program also received nated for the vice presidency women officeholders that it American Recovery and Reinvest- A fundamental problem is that stimulus money, which helped it by a major political party. has had on men, but how will ment Act of 2009,according to a re- many people who lost their jobs dur- hire 52,255 youths in 2009, up 20% Among those who have we ever find out definitively if port from the Center for an Urban ing the recession lack the training to from 2008.This year, with no stim- followed the high-office pi- we don’t give them equal time Future. find work in another industry, ac- ulus money and city and state budg- oneers, Sen. Kirsten Gilli- to wield it? “This is incredibly troubling,” cording to Mr. Bowles. “There’s an et cuts, the program can hire a max- brand stands unexpectedly said Jonathan Bowles, the think alarming skills gap,” he said. imum of only 23,000, 56% less than tall. When she was appoint- IS N L TE to a discussion at tank’s executive director.“Ultimate- Though Recovery Act dollars two years ago. Ⅲ ed to replace Hillary Clinton CrainsNewYork.com/podcasts

2 | Crain’s New York Business | June 20, 2011 20110620-NEWS--0003-NAT-CCI-CN_-- 6/17/2011 8:16 PM Page 1

IN BRIEF NEW YORK ENTREPRENEURS MAY SOON BE The paper chase ABLE TO PRESERVE THEIR VISION OF A BETTER society—not just a wealthier one—when they incorporate their businesses. A bill that passed the state Legislature last week would allow Kate’s Paperie businesses to incorporate as so-called benefit closes stores, corporations. In addition to making money and creating jobs, they must also have a “general downsizes to public benefit,” the legislation states, such as improving people’s health, or promoting the kiosks in revamp sciences.The bill’s sponsor, state Sen. Daniel Squadron, D-Brooklyn, said the businesses’ new legal status would help them attract socially BY ADRIANNE PASQUARELLI minded investors. “It’s going to make New York the biggest state that welcomes entrepreneurs It has been a rough ride for Kate’s who want to do good and do well,” Mr. Paperie, a paper-goods chain with a Squadron said. cult-like following.After three years of plummeting sales and skyrocket- MAYOR MICHAEL BLOOMBERG ANNOUNCED ing fixed costs, the 23-year-old THE FORMATION OF A NEW BONDING business has taken out the shears. authority that will extend low-cost, tax-exempt Since last fall, Kate’s has closed all financing to the city’s 501(c) groups for but one of its five stores and moved expansion and facilities upgrades. According to the remaining store to a location DEEPEST CUTS: the mayor’s office, at least 20 shovel-ready roughly a third the size of its previ- “Kate’s needs to projects with a combined price tag of more than survive!” says owner ous space. Angelica Berrie, who $400 million have been stuck in the Like other stationery businesses, bought the business development pipeline since the city’s industrial Kate’s faces competition from digi- during the retail development agency lost its authority to issue tal do-it-yourselfers and online boom. bonds when the state Legislature failed to marketplaces, such as Etsy. The renew its mandate in January 2008. Since 2009, company had sales of less than $15 more than 13 organizations have turned to out- million last year, a 50% plunge from of-state sources for financial assistance in the boom year of 2007. funding more than $337 million in projects. Ⅲ Slashing to save business At the height of the retail market BY THE NUMBERS in 2008, Angelica Berrie, the widow

of toymaker Russell Berrie, bought Weekly shift of the city’s economy Kate’s Paperie for an undisclosed sum from founder Leonard Flax— DIMMING HOPES A big drop in two indexes tracking manufacturing and an uptick in core the owner of Sam Flax Inc.,who had inflation signal trouble ahead. Fears of a Greek named the paper chain after his wife. meltdown only add to the apprehension. Ms. Berrie has now determined that the only way to save her investment is by severely cutting back the 65% $487.25 33 business. FOUR-YEAR PRICIEST TICKET NO. OF YEARS “My passion has always been pa- graduation rate for The Book the FDA weighed in 2010, of Mormon, its revision on per; it’s in my blood,” said Ms. a New York City a Broadway sunscreen Berrie, who once had a paper facto- record record labeling ry in the Philippines. In a bid to at- Source: Mayor Source: Source: Food and tract investors to the ailing compa- Michael Bloomberg Telecharge.com Drug Administration ny, she is adding kiosks, stocking

See KATE’S PAPERIE on Page 24 buck ennis LONG ROAD BACK Job growth in New York City in May weakened from the previous year, and in fact was the second-weakest rate in the past seven years.

NEIGHBORHOOD JOURNAL Lower East Side’s fashion faux pas

same local tenants who are now fleeing

Higher rents and light foot traffic force downtown’s east side. Source: Eastern Consolidated “Cooler tenants are starting to get a lit- local apparel, accessories shops from area tle tired of Manhattan and are looking ADDICTED TO NUMBERS? to explore other neighborhoods, like GET A DAILY DOSE AT @STATSANDTHECITY Since February, Ms. Havlicek and several Williamsburg,as SoHo becomes more and BY ADRIANNE PASQUARELLI other apparel shops, including trendy In more of a mall,” said Peter Levitan, a man- CORRECTION God We Trust, have given up on the Low- aging director at Sierra Realty. When Annie Havlicek was searching out er East Side. Others, such as accessories In the past, the Lower East Side, like Dr. Paul Gross is a doctor of family medicine at Montefiore Medical Center and Albert Einstein College of Medicine. The locations for her first store last year, the purveyor Bag and fashion boutique Con- much of downtown, was a haven for drugs name of the medical college was misstated in the June 13 story womenswear designer was immediately vent, have announced their imminent clo- and crime, though it was also a go-to place “Wanted: kinder, gentler docs.” drawn to the Lower East Side’s eclectic sures. Businesses complain that landlords, for inexpensive materials, like leather and Kate Kelly Smith, senior vice president and publishing director of charm. The area’s relatively inexpensive anticipating completed developments, fabric, and vintage finds. In the early Hearst Magazines, is 56. An incorrect age was provided for the rents, vintage retail tenants, and heavy have been jacking up rents, though several 1990s, the area began to include more June 13 “Executive Moves” column. nightlife scene persuaded her to open a construction projects are still stalled with restaurants and bars. With the nightlife 350-square-foot shop at 154 Orchard St. recession-related woes. came retail pioneers. vol.xxvii,no.25,june 20,2011—Crain’s New York Business (issn 8756- 789x) is published weekly, except for double issues the weeks of July But in May, after just one year in business, “Probably 20 years ago was the first scat- Fourth, Labor Day and Christmas, by Crain Communications Inc., the Chicago native shuttered her boutique. Moving to Williamsburg tered emergence of some frontier-type re- 711 Third Ave., New York, NY 10017. Periodicals postage paid at New “There’s just not enough foot traffic in But above all, retailers say the foot traf- tailers seeking interesting spaces,”said Steve York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, 1155 that area,” said Ms. Havlicek.“[Stores] are fic, which skyrockets at night, simply does Rappaport, a managing director at Sinvin Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: shifting away from it.” not exist during the day, prime operating Real Estate. “The area was just emerging Call (888) 909-9111. Fax (313) 446-6777.$3.00 a copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) Initially expected to be the next SoHo time for retail. At the same time, other up- from the depths of the drug trade.” ©Entire contents copyright 2011 by Crain Communications Inc. or West Village, the Lower East Side is and-coming shopping frontiers, like Wil- Yet such boutiques have never really All rights reserved. getting an F as a shopping destination. liamsburg in Brooklyn, are attracting the See STORES LEAVE on Page 24

June 20, 2011 | Crain’s New York Business | 3 20110620-NEWS--0004-NAT-CCI-CN_-- 6/17/2011 7:45 PM Page 1

The Private Bank IN THE MARKETS by Aaron Elstein

With you when Bear with us, if you will he U.S. economy seems Tto be slowing. A debt default by Greece looks inevitable. Inflationary pressures are building in China. No When you’re looking to share your success with the causes most important to you, Wells Fargo wonder Wall Street’s nattering Private Bank is here to help. From tax-advantaged charitable giving to managing family foundations, nabobs of negativism have we can help you distribute your wealth to the people and causes you care about most. However you rediscovered their bear claws. want to give back to current and future generations, Wells Fargo has the people and resources to help support your vision. Visit wellsfargo.com/yourstory or call: David Rosenberg, a Toronto-based investment strategist and one of the market’s fiercest bears, sees no less than a 99% Jennifer Lee, Regional Managing Director chance of a U.S. recession by next year. “I’ll give myself 1% of () - wiggle room,” he told Bloomberg last week. The last recession ended only a year ago, but with banks reining in lending and real estate prices still spiraling downward, the econ- Wealth Planning • Banking • Trust omy will soon begin contracting again, Mr. Rosenberg predicts. Investments • Insurance • Family Wealth “Once the Fed sees the whites of the eyes of the economy,”he added,Fed-

Investment and insurance products: NOT FDIC-Insured NO Bank Guarantee MAY Lose Value eral Reserve officials will begin a third round of what’s called quantitative eas- ing. That means buying low-risk bonds to depress their prices and thereby Wells Fargo Private Bank provides products and services through Wells Fargo Bank, N.A., member FDIC, and its various affiliates and subsidiaries. Insurance products are available through insurance subsidiaries of Wells Fargo & Company and underwritten by encourage investors to buy riskier assets instead, which will help stoke the non-affiliated Insurance Companies. Not available in all states. Wells Fargo & Company and its affiliates do not provide legal advice. economy. Please consult your tax or legal advisors to determine how this information may apply to your own situation. © Wells Fargo Bank, N.A. All rights reserved. Albert Wojnilower, an 81-year-old economist known as Wall Street’s “Dr. Doom” back in the stagflationary 1970s, warns that Washington’s sudden desire to shrink the federal deficit could have serious consequences. Without a vigorous private sector to pick up the slack should government borrowing slow,bank lending will shrink even further and cause the economy to slip into recession—perhaps after the elections next year, when the fiscal cuts sought by the current Congress are likely to take effect. In such uncertain times, Mr. Wojnilower wrote in his quarterly letter to clients last week, the 3% yield that investors now get from investing in Trea- sury bonds “may seem high rather than low.” Finally,a few gloomy words from the current “Dr. Doom,” Nouriel Roubini. After adopting a sunnier posture late last year, the New York University economist who predicted the crisis of 2008 has gotten reacquainted with his darker side. In a Financial Times article last week, “The Eurozone Heads for Breakup,”Mr.Roubini warns that even a default in Greece or else- The Port Authority of where would not reduce Eurodebt enough to spur adequate growth.He sug- gests that such smaller European countries will find the benefits of aban- New York & New Jersey doning the euro to be greater than the benefits of using it. Have a great summer, everyone. and Giving credit where credit is due

Prepaid cards can be terrible deals. AmEx is launching the card a mere The Durst Organization Remember the Kardashian Kard? It month before the Fed is due to dra- came with a $10 purchase fee, an $8 matically cut the rates that banks can monthly fee, a $1 loading fee and charge merchants for debit card pur- transaction fees, and if you wanted chases.The banking industry lobbied are pleased to announce the to call to complain, you had to pay a furiously against this move, which fee to talk to an operator. was tucked into last year’s Dodd- formation of a joint venture Last week,American Express intro- Frank financial reform law. Banks duced a prepaid card that’s not only warned that lower transaction rates a vast improvement over the Kar- would cause all kinds of problems for for the ownership of dashian product, but also one that consumers,such as reductions in deb- could challenge banks and their it cards or increases in fees. debit cards. There is no cost to load And now along comes AmEx One World Trade Center the AmEx prepaid card from a bank with a new card that offers most of account, and there are no transac- the benefits of a debit card. Oh, and tion fees when it’s used at retailers it happens that prepaid cards are ex- that accept AmEx cards. Nor does empt from Fed oversight. AmEx charge any monthly mainte- It just shows that the financial nance or activation fees. The card is industry is sometimes a lot more re- available online for free. sourceful than it gives itself credit It’s especially interesting that for. Ⅲ One World Trade Center THE YEAR-TO-DATE CHANGE in Weight +89% Watchers International’s stock—the best performance by any New York area company. Attendance at its meetings is on the rise as the company markets its service to men more aggressively. Online subscriptions are also increasing. istockphoto

4 | Crain’s New York Business | June 20, 2011 CN014454 6/10/11 12:47 PM Page 1

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Join Crain’s at the 2011 FUTURE OF NEW YORK CITY conference and be a part of the conversation. Examine New York City’s economy 10 years after 9/11 and develop an agenda to help meet the challenges to ensure continued NEW YORK,NEW YORK growth and enhance our quality of life. edited by Valerie Block THECRAIN’S NEW YORK BUSINESS PRESENTS FUTURE OF More paparazzi than bad romance ady Gaga has a book in the works. Agents from LWilliam Morris Endeavor will be meeting with publishers over the next couple of weeks to NEW YORK CITY shop the singer-songwriter’s photo-heavy project, according to an executive familiar with the matter. ¶ A MEETING THE spokesman for William Morris Endeavor declined to comment. ¶ Lady Gaga’s catchy tunes and extravagant GROWTH CHALLENGE 2011 getups have helped make her a phenomenon over the past two years.The native New Yorker reached a new level with OPENING SESSION the record-breaking release last month of Born This Way, Ten Years After 9/11: Rebirth of a City which sold 1.1 million copies in its first week. ¶ While the CONFIRMED PANELISTS: Daniel L. Doctoroff, President of market has been flooded with books about Lady Gaga Bloomberg L.P. and Christopher Ward, Executive Stefani Germanotta Director, Port Authority of NY & NJ (real name: ) for a year, this project would be the first done with the recording artist’s BREAKOUT SESSIONS involvement. ¶ HarperCollins appeared to have a deal Can Tech Fuel Our Future Growth? last year for an authorized book called Lady Like, which CONFIRMED PANELISTS: Sharon Mates, Ph.D., Co-founder, Chairman and CEO, Intra-Cellular Therapies and would have combined photos with interview excerpts. Seth Pinsky, President, NYC EDC According to one industry source, HarperCollins originated and pitched that project to the star, whose Jobs: Can the City Remain Competitive and Still Preserve a Strong Middle Class? management team turned it down. ¶ A HarperCollins CONFIRMED PANELISTS: David Jones, President and CEO spokeswoman denied that, saying the company “never of the Community Service Society of New York and proposed a book to her.” Carol Kellerman, President, Citizens Budget Commission

newscom —matthew flamm NYC’s Crumbling Infrastructure: Can We Afford To Fix It? operations to four days a week the millions of digital freeloaders, CONFIRMED PANELISTS: Gary LaBarbera, President, Patience, fortitude from six, and eliminate 687 jobs. and advertisers will pay a premium NYC Central Labor Council and Anthony Coscia, Partner, and some videos The NYPL lost $27 million in to reach them, Mr. Carr said. Windels Marx Lane & Mittendorf, LLP city funding last year.The next —valerie block The New York Public Library is city budget will be finalized by the Public Education: Can We Raise the Bar? using the latest social media tricks end of June. CONFIRMED PANELISTS: Matthew Goldstein, Chancellor of to stave off the steepest city budget —miriam kreinin souccar The City University of New York, Eva Moskowitz, CEO, cut in its history: $40 million, or Success Charter Network and Dennis Walcott, Chancellor of New York City one-third of its city funding. Public Schools The library has teamed up with All the ad sales online video site VYou to ask fit to generate supporters to tape pleas to City Council members on behalf of the Citigroup analyst Leo Kulp NYPL. By last week, about 25 maintained his “buy” rating on users had posted videos on the site. The New York Times Co. last The NYPL also has Facebook and week, saying that its new paywall Twitter campaigns encouraging appears to be working. He called people to write elected officials, online subscription sales “robust.”

but library execs think the VYou The Times’ star media newscom effort will be even more effective. columnist David Carr gave his own “It’s one thing to have a huge assessment of the payment system Boulud leads top pile of letters in front of you, but a at a recent screening of Page One,a chefs to Japan picture says a thousand words,” documentary that follows Mr. said Deanna Lee, the NYPL’s vice Carr and his colleagues as they Acclaimed chef Daniel Boulud will president of communications and report on the terrifying pace of travel to Japan’s ravaged northern marketing. “The situation is so change in the media industry.The coast on the July Fourth weekend DATE & TIME: dire this year that we want to do as movie also illustrates how the to cook lunch for 1,000 displaced July 19, 2011, 8:00 am–12:30 pm much as we can.” transformation has threatened to residents of the town of Kamaishi. VENUE: If the library has to absorb the take down The Times itself. Seven other of New York’s The Grand Hyatt cut to its $257 million operating Mr. Carr noted that the paywall finest toques will help Mr. Boulud TICKETS: budget, it will be forced to close numbers are “better than we’d with the feast: David Bouley, Bill $249 for individual tickets, if purchased 12 of its 90 branches, trim hoped” and “ahead of schedule.” Telepan, François Payard, Michael by July 1, $299 thereafter But he added that revenues from Romano, Floyd Cardoz, Craig Koketsu www.crainsnewyork.com/events_future the system are expected to reach and Tadashi Ono. just $60 million annually.“That’s “Offering this lunch is a Space is limited. Reserve your seat today. not going to save The New York gesture of comfort and good will,” Times,” he deadpanned. Mr. Boulud said. Even so, it’s “good to get Xcoal Energy & Resources is PRESENTING SPONSOR CITY SPONSOR people into the habit” of paying providing the aircraft and footing for content: “When people opt in, the food bill for the event, which it creates a scarce resource, a Mr. Boulud conceived after he rarity,” he said. In other words, the spoke with an executive of the firm paywall becomes a way to about the situation in Japan. differentiate Times readers from —lisa fickenscher

6 | Crain’s New York Business | June 20, 2011 CN014465 6/14/11 4:34 PM Page 1

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2. Chase business checking account required to be eligible for fee waiver offer. Offer not available with any other promotions. Application must be submitted by August 31, 2011 and booked by November 30, 2011. Stated Maturity Lines of Credit, Renewable Lines of Credit, and Chase Auto Finance SBA loans are not eligible for this offer. Fee waiver will be credited at the time of closing of SBA loan or line of credit. Minimum loan amount is $10,000. Term of SBA loan or line of credit must be greater than 36 months. Chase origination and other fees may apply, and may vary based on the type and term of the loan. For SBA 504 loans, this offer only applies to closing costs, including appraisal and environmental fees, but not attorneys fees, related to Chase’s senior/permanent loan and shall be limited to lesser of one percent of Chase’s senior/permanent loan up to $10,000 or the actual amount of the closing costs. All extensions of credit are subject to credit approval by JPMorgan Chase Bank, N.A.

3. Based on number of approved SBA loans from 10/1/10 through 3/31/11, as reported by the U.S. Small Business Association.

“Being on the wrong side of marriage equality will hurt the Conservative Party with younger WEINER SEAT Seeking semi-success THE INSIDER voters,” said Hunter College IN SPECIAL ELECTIONS to fill House seats, a process professor Kenneth Sherrill. not known as a shining example of democracy, by Jeremy Smerd and Shane Dixon Kavanaugh Furthermore, the state party’s party insiders choose the candidates. Democratic threat would not faze senators who leaders will look for a steady, familiar and perhaps are looking to leave office for other grandfatherly figure to fill the vacancy left by Rep. government posts. Anthony Weiner’s resignation. “If you are thinking about “What’s important is for any party to put forth retiring from the Legislature and talented, competent, trustworthy candidates,” said continuing in public service,” Mr. Fordham professor Costas Panagopoulos. “The national Gay-marriage vote Sherrill said, “you might well want spotlight does not give the party the luxury to pick someone to be on better terms with the who doesn’t have these qualities.” governor [who is pushing for gay But members of Congress who represent nearby marriage] than with the chairman roils conservatives districts—a group that includes Queens Democratic of the Conservative Party.”

County Chairman Joseph Crowley—would frown bloomberg news on anyone too ambitious. If an eager candidate wins the special election to ichael Long, the state Conservative Party Medicaid watchdog replace Mr. Weiner only to have the district eliminated in next year’s chairman, promised to deny his party’s ballot sent packing reapportionment, he or she would be a threat to challenge incumbents, line to any legislator who votes for gay whereas a weak successor could make it easy for them to snap up desirable marriage, but that could cost the party young New York’s hard-charging parts of the district during reapportionment. voters and push Republican senators into Medicaid inspector general, James That doesn’t bode well for Reshma Saujani, who has already ruffled Sheehan, was told last week to feathers by challenging Rep. Carolyn Maloney in a Democratic primary last Mretirement, ultimately undermining Mr. Long’s power. resign within 30 days. Health care year. As a result, Ms. Saujani, who now works for Public Advocate Bill de Mr. Long believes that opposition to gay marriage, like the providers will be glad to see him go, Blasio, would run for the Weiner seat only if tapped by party leaders. fight against abortion, justifies taking a stand. given his tendency to treat errors in “You need to pick somebody who is big enough to be successful in the “We haven’t stopped Medicaid billing as abuse. short term but insignificant enough to be unsuccessful in the long term,” an “If I were appointing his insider said. fighting for the unborn,” he successor, I’d look for someone who It is unclear whether Assemblyman David Weprin, who ran for city said last week. “And, God was not a punitive nitpicker, comptroller in 2009, and his brother, City Councilman Mark Weprin, both forbid, if this passes, we will someone who would do the job Queens Democrats, meet those criteria. continue to defend traditional without the ‘gotcha’ attitude,” said The same calculus may apply to Republicans. Robert Turner, who lost to Neil Heyman, president of the Mr. Weiner 61% to 39% last November, and City Councilman Eric Ulrich, marriage.” Southern New York Association, a once an aspiring priest, are potential candidates. A GOP victory, though, But while young voters’ nursing home group. could ultimately hurt another Republican: Rep. Michael Grimm, who would views on abortion echo benefit if his district inherited Mr. Weiner’s conservative Brooklyn constituents America’s, they are “much Council vs. Mike during reapportionment. Mr. Weiner’s victory margin was just 4 points in more likely than the general on budget basics Brooklyn, compared with 28 points in Queens. public to favor same-sex marriage,” according to a City Council members’ frustration with Mayor Michael Bloomberg’s month.They think the mayor’s Councilmen Robert Jackson and national poll by the Public budget is unlikely to ease when a proposals to cut basic services, such Daniel Garodnick are also eyeing the

Religion Research Institute. istock photo deal for fiscal 2012 is reached this as senior centers, divert them from seat, and Community Board 1 trimming expenses they consider Chairwoman Julie Menin is also nonessential, like payments to for- likely to run, insiders say. profit contractors. Council members believe that certain services should be funded at Cashing out minimum levels and that these Following his resignation from the “baselines” should act as the House last week, Anthony Weiner still starting negotiation points each has nearly $4 million that he raised year. Speaker Christine Quinn got the to finance his now-dashed mayoral mayor to agree to some baselining hopes, plus $365,000 in his in recent years, but she wants more. congressional account. “By not baselining, we’re Mr. Weiner will have to disclose wasting a lot of time,” said one his latest fundraising totals July 15 council insider. and must continue to file financial disclosures if there is money in his accounts. Election laws forbid Succeeding using the money for personal Stringer expenses.The former House member can return the money to The demise of would-be mayor his donors, give it to charity or Anthony Weiner has lifted Manhattan other politicians, set up a state Borough President Scott Stringer’s political action committee or save hopes for the money for a future campaign. winning that office, thereby heating up the Lawmakers for rent race to succeed At a forum this month, United him. Federation of Teachers President An insider Michael Mulgrew said his union’s says Upper East power over politicians is overstated Side City by the tabloids. He said that the Councilwoman Jessica Lappin UFT lobbies Albany only to (above) is asking donors to support approve benefits to which the her for Mr. Stringer’s seat. She is union and the city have agreed. hosting a fundraiser June 22. “The idea that we own people is Gale Brewer has not started to just absurd,” Mr. Mulgrew said. raise money, but the Upper West In any case, former Lt. Gov. Side councilwoman said, “I’m Richard Ravitch chimed in, e Business Bank definitely thinking about running.” “politicians don’t stay bought.” Ⅲ

Sterling4Biz.com 212.757.1100 For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider

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VIEWPOINT Lesson plan for city, teachers editor in chief Rance Crain publisher, vp Jill R. Kaplan ity budget talks have reached the health care.The mayor and the teachers were on board, but EDITORIAL editor Xana Antunes homestretch with a central question other unions objected to spending the money to patch over a managing editor Glenn Coleman unresolved: Will the Department of UFT problem that will recur anyway next year. Another deputy managing editors Valerie Block, Erik Ipsen Education lay off nearly 4,200 teachers cogent point, as noted by the Citizens Budget Commission, assistant managing editor Erik Engquist and not replace 2,000 more who retire or is that the money will eventually be needed to pay for its senior producer, projects Kira Bindrim senior producer, news Elisabeth Butler Cordova quit this summer? intended purpose: health care. contributing editor Our feeling from the moment that The mayor and the City Council should reduce or Elaine Pofeldt columnists Greg David, Michael Gross, Mayor Michael Bloomberg proposed the layoffs in February eliminate layoffs the old-fashioned way: by finding savings Alair Townsend was that they would not happen because the savings of elsewhere in the budget.The council has so far identified pulse editor Barbara Benson C senior reporters Theresa Agovino, $269 million—a relatively small number in a $65 billion $145 million in education spending it could live without. Aaron Elstein, Lisa Fickenscher, budget—were not enough to justify the political Some of the cuts are symbolic (trimming the chancellor’s 13- Matthew Flamm, Miriam Kreinin Souccar reporters Amanda Fung, Shane Dixon Kavanaugh, consequences for Mr. Bloomberg, who has seen his public person press office), and Daniel Massey, Adrianne Pasquarelli, approval rating fall to about 40%. others are substantial (a Jeremy Smerd The mayor and art director Steven Krupinski Yet the mayor has held firm, insisting that the city cannot $50 million cut to a deputy art directors Carolyn McClain, afford to maintain its teacher head count. He points out that the City Council $2 billion contract Daniel Mednick staff photographer Buck Ennis his budget actually increases the allocation of city tax money should reduce or budget on which copy desk chief Wendy Zuckerman to the Department of Education by $2 billion, but that is not council leaders cannot copy editor Thaddeus Rutkowski research editor Dana Gordon enough to offset losses of state aid and federal stimulus eliminate layoffs get any information). assistant research editor Suzanne Panara money. The UFT should research assistant Suzanne Bernard research intern Jonas Altman-Kurosaki If the layoff threat is a bargaining chip, it’s unclear what find ways to contribute editorial interns Irvin Ibarguen, the mayor will get for it. For months, he demanded an end to as well. Its members Eliza Ronalds-Hannon, Jermaine Taylor, Ian Thomas “last in, first out,” the absurd requirement that layoffs be have seen their pay rise EDITORIAL AND ADVERTISING OFFICES based on teachers’ seniority, not their ability.The United 43% during Mr. Bloomberg’s tenure but have agreed to only 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 Federation of Teachers has yet to budge on that issue, modest changes in work rules, most notably, stopping advertising: 212.210.0259 calculating that layoffs won’t happen and that even if they unwanted senior teachers from bumping junior colleagues Cable craincom nyk do, excised educators will soon be rehired.The union also out of their schools. Fax 212.210.0499 Entire contents ©copyright 2011 Crain believed that the mayor could not get the state Assembly to Saving thousands of the youngest teachers’ jobs would Communications Inc. All rights reserved. change the law. For all the talk of mayoral control of schools, benefit all teachers by averting a big increase in class sizes. ®CityBusiness is a registered trademark of MCP Inc., used under license agreement. the UFT seems more adept at resisting change than the Calling off an 8% reduction in teaching positions would also TO SUBSCRIBE: mayor is at forcing it. send a message to New Yorkers who are considering a move Call 888.909.9111; fax 313.446.6777. Last week, another potential labor concession emerged to the suburbs that the city has its priorities straight. And $3.00 a copy, $59.79 one year, $109.79 two years. www.crainsnewyork.com when an association of unions suggested preventing layoffs there would be other beneficiaries, often forgotten in this by using money from a city fund set aside for its members’ debate: the 1 million children in public schools. ADVERTISING AND MARKETING advertising director Trish Henry senior account managers Courtney McCombs, Sheryl Rose, Suzanne Wilson sales manager, classified print & online John Gallagher CRAIN’S ONLINE POLL COMMENTS sales coordinator, print & online Lulé Haznedari newsletter product manager SHOULD LAWMAKERS Alexis Sinclair credit Todd J. Masura 313.446.6097 BOLSTER NYC marketing director Amy Crossman Can’t afford NYC? Leave assistant marketing manager RENT REGULATIONS? Sabra Harrison commute two-plus hours before teaching your director, audience development Date of poll: June 15 THAT MEANS YOU, SENIORS … kid or performing a medical procedure on your Michael O’Connor 221 votes As a landlord, I had two senior citizens who spouse or saving you from a crime? senior audience development manager both had millions and yet lived in my walk-up We need means-tested, noninheritable rent Tarek Cotran No. Just renew the existing rules. townhouse in rent-stabilized apartments. Both regulation so that people can live where they director of e-commerce strategy Expanding them . 14% had summer houses. I had to subsidize their work. If real estate investors don’t like it, they Kristi Serrano

will only protect lives because they got lucky—moved into these can move. I don’t think most live here, anyway. web developer, interactive

wealthy tenants. Chris O’Donnell 42%. apartments in the 1970s and never left.There —terry grace has to be a means test for rent-regulated units; NEW YORK PRODUCTION otherwise, regulation benefits people who do No. Make rent A WEINER POSTSCRIPT production and pre-press director

. 44% Michael Corsi regulation a thing not need it. of the past. Artificially low rents also distort the market. A politician lied to the public? Wow, what a advertising production manager Boston did away with its rent control, and the concept. Are we really going to throw out Suzanne Fleischman Wies sky did not fall. We should do the same. anyone who lies? Who is going to run the PUBLISHED BY CRAIN COMMUNICATIONS INC. Yes. Tenants New York is an expensive place. If you country? Who is so pure that he might not fail need more chairman Keith E. Crain cannot afford to live here, then move. and face similar scrutiny? Rance Crain protection, president because —william butler The days of expecting a higher standard secretary Merrilee Crain thousands of from our political leaders are over, just as with treasurer Mary Kay Crain apartments are executive vp, operations William Morrow … AND YOU, INVESTORS sports figures and corporate chieftains. But Gloria Scoby being senior vp, group publisher (with apologies to Finley Peter Dunne) we no group vp, technology, circulation, deregulated With our city’s housing vacancy rate of just 2% longer make sausages by hand—’tis progress. Robert C. Adams every year. manufacturing to 3% and the $23-an-hour earnings required —greg shunick vice president/production & to pay rent on a two-bedroom apartment, how manufacturing David Kamis chief information officer Paul Dalpiaz can anyone but a Wall Street mogul afford to CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) istockphoto live in New York without roommates? pages. Send letters to [email protected]. For this week’s questions: Go to This city can’t survive without its middle- Send columns of 475 words or fewer to chairman Mrs. G.D. Crain Jr. (1911-1996) www.crainsnewyork.com/poll to have your say. and low-income labor force. Would you want [email protected]. Please include the writer’s your teacher or nurse or police officer to have to name, company, address and telephone number.

10 | Crain’s New York Business | June 20, 2011 20110620-NEWS--0011-NAT-CCI-CN_-- 6/17/2011 12:46 PM Page 1

OPINION SOME OF US acted in 1995. Mr. Giuliani, of course, had backed Gov. Mario Myth of Giuliani, Cuomo over Mr. Pataki in the 1994 WOULD RATHER election. When the Internet bubble sent tax revenues soaring in his second fiscal conservative term,Rudy did what Ed Koch did in BE AT WORK. similar circumstances in the 1980s: He spent the money. In Mr. Giu- ast week,Rudy Giuliani met with Texas Gov.Rick liani’s last year in office, the city Perry and New Jersey Gov. Chris Christie to help budget was just shy of $40 billion, a 25% increase over his two terms. him decide whether he should enter the race for The city’s work force grew to the Republican presidential nomination. As Rudy 250,000 people, larger than the one sees it, the current crop of candidates leave a lot to he inherited from Mayor David be desired, and he won’t repeat the mistakes—like ignoring Dinkins. In the face of intense op- L position, he had abandoned all his New Hampshire—that crippled his candidacy four years ago. privatization plans. What he isn’t taking into account is the fact that his record Rudy isn’t factoring any of this into his thinking because he believes as mayor won’t pass In the early years, in the self-promulgated myth of muster with the Tea Rudy kept his commit- Giuliani, the fiscal conservative. Party activists or those ments. The New York Others do, too. A few years ago, Republicans who are Times headline “Giu- seeking to tweak Mayor Michael determined to reduce liani outlines a budget Bloomberg for his early fondness for the size of government. to cut government to tax increases, The Wall Street Journal He failed at that task size” accurately de- drew a contrast between the billion- when he was mayor. scribed a budget that aire businessman and Mr. Giuliani, Mr. Giuliani cer- entailed the first sharp saying that Rudy had repealed the tainly made big prom- reduction in the growth city’s commuter tax. ises when he took office of city spending since Unfortunately, that wasn’t true. in January 1994. The GREG the fiscal crisis of the We have state Assembly leader city was in desperate DAVID 1970s. In the next few Sheldon Silver to thank for that. economic shape, at the years, he reduced the Mr. Giuliani led the effort to keep nadir of the second- city payroll by about the tax. worst recession in the postwar era, 15,000 workers, or 5%. Presidential candidates are sub- and Rudy said that he would fix the Even in those days, Rudy got jected to enormous scrutiny, and economy and eliminate budget more credit than he deserved. He Mr.Giuliani’s real record will even- deficits by cutting spending and tax- cut taxes modestly; the big re- tually get attention. Republicans es at the same time, as well as priva- duction in the tax burden in the won’t think he’s the man to solve tizing city-owned hospitals and city was a result of the large cut- the country’s budget and debt other operations. backs that Gov. George Pataki en- problems. AND IT SHOWS. While there have been important efforts within CUNY and at How to keep GED local nonprofit institutions to create Building upon its 25 year history as the most trusted name in New programs for college students with York business, Crain’s is giving readers the opportunity to tell us why GEDs, a more focused initiative their company is the best place to work. Nominations are now open primed with additional resources is for this annual New York City honor, recognizing outstanding students on track needed. employers in the ve boroughs. Companies will be proled in Crain’s Bronx-based Hostos Commu- New York Business and honored at an event in the fall of 2011. nity College, with a 15% GED- BY FÉLIX V. MATOS RODRÍGUEZ holding student population, hopes Does your company allow you to: to be a model implementation of such a plan. s newly minted college graduates throughout the • Work with a stellar group of people? To deliver, the initiative would • Do what you enjoy? city begin the process of job interviews for their require extra academic tutoring on • Explore new opportunities for growth? campuses, academic counseling, ca- new careers, another group of young adults con- • Follow your own path? tinues to be left woefully behind. reer planning guidance, development of peer-support organiza- Students entering colleges with general educa- tions, financial literacy classes, tion diplomas, or GEDs, desperately need help if they are to suc- emergency loan programs, and pro- Tell us why your company is so great by nominating A grams integrating into college life cessfully complete their studies and join the ranks of future leaders. itas one of New York City’s Best Places to Work at GED students who would other- A comprehensive study by the Bloomberg administration, wise feel less welcome in academia. www.bestplacestoworkNYC.com For GED students just heading published in June 2008, reported 700 finally made it to graduation to college, it’s essential to create that 1.6 million people in New York day. summer bridge programs teaching City—roughly the equivalent of the These challenges pose an immi- them college-readiness skills and entire population of Manhattan— nent danger to the economic fu- offering extra support for math, are more than 15 years of age,are out ture of our city and state. Accord- reading and writing to help them of school and lack a high school ing to a recent issue of The test out of remedial courses. diploma. And yet less than 1% of Economist, youth joblessness and The country is relying on this this population, 10,732 people, re- structural unemployment are the population to succeed. If we are to ceived a GED in 2006. biggest threats to a real recovery of reach Mr. Obama’s goal, we need The funnel gets smaller from the U.S. economy. carefully structured policies imple- there. The City University of New At the national level, President mented at institutions like our com- York reported that 5,400 students Barack Obama has set a goal for the munity colleges. Only then will we with GEDs enrolled in community United States to once again have the have more GED students shaking colleges in 2001 to seek associate highest proportion of college grad- hands with their college president degrees. Almost half of these fresh- uates in the world by 2020. If that and receiving their diplomas. men dropped out in their first year dream is to be realized, students of a two-year associate degree pro- with GEDs entering college need to Félix V.Matos Rodríguez is president of gram. After four years, only about be a part of the equation. CUNY’s Hostos Community College.

June 20, 2011 | Crain’s New York Business | 11 20110620-NEWS--0012-NAT-CCI-CN_-- 6/16/2011 6:30 PM Page 1

REAL ESTATE DEALS PLUS

Insurer regroups brow & Co. represented Dahesh. Manhattan leasing on Park Avenue —adrianne pasquarelli Insurance broker and risk manage- Vacancy-slashing sets new record ment firm Arthur J.Gallagher & Co. at 477 Madison has signed a 10-year lease for 31,800 square feet at 250 Park Ave. to consol- Two tenants have signed leases at here was good news for the Manhattan office idate its New York offices. The ask- 477 Madison Ave., a 318,000-square- market on two fronts last week. A surge in office ing rent was $72 per square foot. foot tower that has succeeded in cut- The firm is merging its three ting its vacancy rate over the past 12 leasing in May pushed the year-to-date volume New York City office locations into months to just under 9% from 44%. to 14.2 million square feet, the highest ever, the space. It plans to take occupan- The first new tenant, office out- T cy in the third quarter of this year. sourcer HQ Global Workplaces, according to a report from Cushman & Landlord AEW Capital Man- signed a 15-year lease for 18,800 Wakefield Inc. What’s more, on the strength of that activity 145 Sixth Ave. agement was represented by Cas- square feet.The asking rent was $48 the overall vacancy rate slipped below 10%—albeit only 0.1 sidy Turley’s David Hoffman and per square foot.The tenant was rep- percentage point below—for the first time since March 2009. Wendy Miller. The tenant was rep- deal for 3,500 square feet at 145 Sixth resented by Richard Rosenhaus of resented by Michael Gottlieb and Ave. The asking rent for the space Rosenhaus Real Estate. Last month alone, ten- up space before rents can Ilan Hoffman of Grubb & Ellis. was $75 a square foot, though the Landlord J.A.B. Madison Asso- ants snapped up 4.3 mil- rebound from levels that Arthur J. Gallagher was im- deal closed for less. ciates was represented by David lion square feet of leased 4.3M are still well below prere- pressed with the landlord’s commit- Dahesh will take possession of Hoffman and Wendy Miller of Cas- space, the highest one- SQUARE FEET cession peaks, according to ment to investing millions for capi- the space in mid-July.The museum sidy Turley in both deals. month total on record.The leased in May Ken McCarthy, senior tal improvements, according to Mr. had been housed in the IBM Build- HQ wanted to expand its foot- figure from a year earlier managing director of re- Hoffman.”You can’t overemphasize ing, at 580 Madison Ave., until print in midtown. It operates work was 2.6 million square feet. search for Cushman. the significance of having a landlord 2007,when a rent increase made the spaces in roughly 40 buildings Even without Condé He noted that many that is financially stable,” he said. space unaffordable. around the city. “The building was Nast’s lease of 1 million square feet companies put off expansion plans —tommy fernandez According to Roxanne Betesh, extremely well-located for the ten- at 1 World Trade Center in May,the and moves during the recession but the Sinvin Real Estate broker who ant,” Mr. Hoffman said. month’s total would have ranked as that now they are beginning to feel represented landlord JWS, the The second new lease was signed the highest since the end of 2004. like they cannot wait any longer. Museum does downtown location is close enough by the nonprofit Aspen Institute, Predictably, the increased de- “The history of Manhattan real an artful deal to SoHo to generate heavy foot traf- which will take 8,300 square feet. mand for space has pushed prices up. estate is that of rent spikes,”said Mr. fic, but far enough from its heart to The tenant was represented by Asking rents hit $55.29 per square foot in McCarthy. “At the bottom of this After four years without a home, have a reasonable rent. “It’s not David Lebenstein and Debra Wol- May,up 1.7% year-over-year.In fact, cycle, firms believe it is a good time Dahesh Museum of Art has leased a prime SoHo real estate—it’s on the lens of Cassidy Turley’s not-for- some of the surge in leasing activity to conduct a transaction.” new location.The 16-year-old non- western portion,” she said. profit practice. may be due to tenants’ trying to lock —tommy fernandez profit recently signed a four-year David Badner of Norman Bo- —tommy fernandez

12 | Crain’s New York Business | June 20, 2011 Project8:fp template.qxd 5/17/11 2:52 PM Page 1

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SMALL BUSINESS NY vets unleash specialty care for pets

love the place,” Mr. Aronson said. The growth reflects a nationwide Facilities win clients by giving animals pricey “There is a great emotional vibe there, trend: The number of certified spe- and you feel very well-supported.” cialists rose nearly 20% from 2006 to advanced treatments, offering owners TLC Until recently,the only emergency, 2010,reaching 10,210,the American Aronson when his Italian greyhound specialty veterinary hospitals in New Veterinary Medical Association says. BY DIANE HESS was diagnosed with lymphoma. York City were Manhattan’s Animal “Whatever happened to get dogs Mr. Aronson spent dozens of Medical Center, on East 62nd to sleep in people’s beds is the reason hree years ago,Veterina- hours at the specialty veterinary hos- Street, and Fifth Avenue Veterinary people are [now] treating dogs for ry Emergency & Refer- pital,where Lulu received 17 chemo- Specialists,on West 15th.Now there cancer,” said David Gersholowitz, ral Group in Cobble Hill, therapy treatments and other care. are half a dozen.Typically, they pro- hospital administrator for NYC Vet- Brooklyn,became home The dog passed away in early June. vide specialty services to pets re- erinary Specialists,a member ofTam- buck ennis away from home for “My wife and I sit around and talk ferred by primary care vets, while pa-based BluePearl Veterinary Part- PET THEORY: “Good medicine breeds good TBroadway musical conductor Henry about VERG—about how much we handling emergency cases 24/7/365. ners, which has three facilities here. business,” says VERG owner Dr. Brett Levitzke.

The trend correlates with more specialization in human medicine. “Years ago, you only saw an in- ternist,” said David Stansfield, director of specialty hospital services for Pfizer Animal Health. “That’s no longer the case.” Among the services offered by some 40 doctors at NYC Veterinary Specialists on West 55th Street are surgery, neurology, ophthalmology, dermatology and behavioral medicine.The facility houses a $1.1 million linear accelerator for radiation therapy and an $800,000 MRI machine. How do you build Coping with the cost of care The high-end care comes at a price.The average emergency at NYC Veterinary Specialists costs $500 to one of the largest $1,000; the average surgery, $2,500 to $5,000. Complete cancer treat- ment commands as much as $40,000. banking groups That hasn’t deterred pet owners. Patient visits at NYC Veterinary Specialists’ three sites are projected to reach 25,000 in 2011, while rev- in the world? enue has doubled in the past five years. VERG has seen double-digit percentage growth in revenue each One relationship year since it opened in 2005 and ex- pects a sales gain of 20% this year. Fewer than 1% of owners who go to NYC Veterinary Specialists have at a time. pet insurance. But NYC Veterinary Specialists and VERG clients can access CareCredit, a payment plan. Many pet owners think specialty care is worth the price. A year and a half ago, Deborah Silberberg, owner of organizing service ShipShape, Union Bank, a proud member of MUFG, a top ten global financial group, is consistently recognized spent $7,000 at NYC Veterinary on measures of relationship management and customer satisfaction. If you want a banking partner Specialists on her schnauzer, Bebe, who had congestive heart failure. that offers committed levels of service, a wide global reach, and deep expertise across a range of “It’s not a cheap service, but that industries, talk to us. You deserve a financial partner that can help keep your business moving forward. isn’t even a consideration when your dog is not well,”Ms.Silberberg said. Gerri Bavaro, a retired mental- health facility administrator,was re- Our newest commercial banking office is now open in New York City. lieved that a VERG vet was available at 4 a.m. to care for one of her Corporate and Institutional Commercial Treasury cats. “I don’t have a medical doctor Treasury Services: Services: who would do that,” she said. Dr. Brett Levitzke, VERG’s J. Todd Gregory Les Goodwin owner, sees himself as a vet first and Executive Vice President Senior Vice President a businessman second.“Good med- 877-815-9243 800-449-9041 icine breeds good business,” he ob- served. Dr. Levitzke opened a second ©2011 Union Bank, N.A. Brooklyn VERG site a year ago.But Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG), there may not be much more room one of the world’s largest financial organizations. for growth. “The market is going to Source: Greenwich Associates’ 2010 Excellence Awards Ⅲ Source: Phoenix-Hecht 2010 Treasury Management Monitor™ be saturated fairly soon,” he said. unionbank.com/moveyourbusinessforward To sign up for Crain’s SMALL BUSINESS newsletter, go to www.crainsnewyork.com/smallbiz.

14 | Crain’s New York Business | June 20, 2011 20110620-NEWS--0015-NAT-CCI-CN_-- 6/16/2011 6:31 PM Page 1

EXECUTIVE PAY INSIDE FORTUNATE 100 2010’s highest-paid chief execs PAGE 18 ‘Some of the pay restraint is companies and boards trying not to look like pigs.’ —Steven Hall, compensation consultant, Page 16

HE THETTHE Mario Gabelli $529M Lew Frankfort $312M Kenneth Chenault $295M $$100,000,00010,100,000,0001000 ,000,000 U CCLUBL B Ralph Lauren $191M Ivan Seidenberg $188M It was a very good decade for these CEOs with total payouts well into nine figures

BY AARON ELSTEIN ell-paid chief executives are a dime a dozen. But well-paid CEOs who Wlast years at their jobs are nearly priceless—or at least very expensive. ¶ Looking back over the first full decade of the new millennium, Crain’s Laurence Fink $82M1 Jay Sugarman $159M focused on that rare breed combining high earnings and longevity, which we define as surviving at least 10 years at a publicly held company. They are a surprisingly mixed group, in terms of their industries as well as their performance. ¶ The longevity measure filtered out some executives, including J.P.Morgan Chase’s Jamie Dimon and Goldman Sachs’ Lloyd Blankfein. Also excluded is the compensation for CEOs whose companies were once private, such as that for Stephen Schwarzman of Blackstone Group. James Dolan $145M Rupert Murdoch $137M John Hess $127M See THE $100,000,000 CLUB on Page 16 bloomberg news; lauren, sugarman: newscom

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June 20, 2011 | Crain’s New York Business | 15 20110620-NEWS--0016-NAT-CCI-CN_-- 6/16/2011 6:32 PM Page 1

REPORT EXECUTIVE PA Y

close to his compensation in 2008, when he was awarded $36 million. Masters of the high-salary universe The story is much the same for the CEOs of Goldman Sachs, Morgan showed a 23% jump in share prices, Jamie Dimon also did rather hand- king KKR and insurers Travelers and Stanley and American Express. Financial leaders top a sharp reversal from the 2% dip somely last year. He pulled in near- Prudential Financial—their incomes The professionals who help list as firms rebound, logged in 2009. ly $21 million, up $4 million. in many cases still paled in compar- companies draw up their compensa- For the second year in a row, While these executives fared well ison with what they got at the peak. tion packages say corporate boards anti-banker rage ebbs money manager Mario Gabelli led in 2010—as did those from financial Consider Mr. Dimon. Fat as last are keenly aware of the fact that pay the pay parade among financial in- firms including leveraged buyout year’s paycheck was, it didn’t come remains an explosive issue, and dustry titans, a performance that therefore find it wise to restrain the BY AARON ELSTEIN placed him third overall on the list. gratitude they show management. Mr. Gabelli, the city’s highest-paid “There is a bit of sensitivity now When it comes to executive pay, CEO over the past decade (see be- $ELF-RESTRAINT? NOT SO MUCH on what amount of pay is too much, 2010 was the year that the empire low), awarded himself $57 million OUTSIDE THE STILL-SHELL-SHOCKED FINANCIAL INDUSTRY, there are signs that and what people are going to say snuck back. in total compensation, up $13 mil- calls for restraint in executive pay are failing to sink in. when they see the numbers,” said Wall Street leaders returned in lion. His Gamco Investors Inc. saw The best examples are Viacom and CBS—two companies controlled by Steven Hall, a Manhattan compen- force to their customary perches atop earnings rise 24%, to $69 million. media mogul Sumner Redstone—whose CEOs headed the list and were paid sation consultant. “Some of what Crain’s Fortunate 100 list of the city’s a combined $141 million last year. you’re seeing is companies and best-paid chief executives: Eight of Up with people In a regulatory filing, Viacom explained that CEO boards trying not to look like pigs.” the 15 highest-paid hailed from the Meanwhile, the founder and Philippe Dauman’s 2009 compensation of $34 million Orders from Washington are financial sector, compared with just CEO of the world’s largest asset- had been depressed by the soft economy and that also having an effect, Mr. Hall not- three in 2009 (see Page 18). Their management operation, Laurence he was denied a “target bonus” that year due to a ed. Foremost among them is last return to riches coincided with a re- Fink of BlackRock Inc., was paid companywide compensation freeze. But as the year’s Dodd-Frank financial reform bound in financial company earn- $24 million,up $8 million.That was economy improved, Viacom made up for its self- law, which includes language re- ings and the ebbing of public out- enough to place him seventh on the imposed parsimony, granting Mr. Dauman a $50 quiring all companies to ask share- rage regarding lavish banker pay. list. His fortunes rose along with million raise that made him the highest-paid CEO holders if they approve of the busi- Earnings for all financial compa- BlackRock’s, whose earnings more not just in the city, but in the entire nation, nesses’ pay practices. nies in the S&P 500 quadrupled last than doubled, to $2 billion, in the according to data from the AFL-CIO. While some critics dismiss these year,to $122 billion.For Wall Street wake of its 2009 acquisition of Bar- His payout was almost double the “say on pay”votes as toothless—firms firms specifically, 2010 went down clays Global Investors. The deal $44 million raked in by 2009’s are free to disregard the results—Mr. in the books as the second-most- helped boost assets under manage- Hall said there are clear signs that top earner, Mario Gabelli. profitable year ever. The sector’s re- ment to $3.5 trillion. boards are eager to avoid the embar- covery was apparent in other meas- On the back of a 42% rise in earn- Sumner Redstone —AARON ELSTEIN rassment of having shareholders pub- Ⅲ ures as well. The KBW Bank Index ings at J.P. Morgan Chase & Co., bloomberg news licly disapprove of their decisions. THE $100,000,000 CLUB

MARIO LEW KENNETH RALPH IVAN LAURENCE JAY JAMES RUPERT JOHN GABELLI FRANKFORT CHENAULT LAUREN SEIDENBERG FINK SUGARMAN DOLAN MURDOCH HESS Gamco Coach American Polo Ralph Verizon BlackRock iStar Financial Cablevision News Corp. Hess Corp. Investors Years at helm 16 Express Lauren Years at helm 11 Years at helm 23 Years at helm 13 Years at helm 16 Years at helm 58 Years at helm 16 Years at helm 35 Years at helm 10 Years at helm 44 10-year total 10-year total 10-year total 10-year total 10-year total 6-year total 10-year total 10-year total compensation 10-year total 10-year total compensation compensation compensation compensation compensation compensation compensation $312M compensation compensation $188M $182M $159M $145M $137M $127M $529M $295M $191M 10-year total 10-year total 10-year total 10-year total 10-year total 10-year total 10-year total 10-year total shareholder return 10-year total 10-year total shareholder return shareholder return shareholder return shareholder return shareholder return shareholder return shareholder return +1,460% shareholder return shareholder return +13% +395% +50% -28% +7% +231% +21% -0.4% +405% After Coach was Taking on cable Since founding The CEO of this Sure, Knicks fans Only six years of This company has Mr. Gabelli has long spun off from Sara Seldom has a CEO His keen senses of and satellite BlackRock in 1988, commercial real are baffled by the pay data are to love those been one of the Lee Corp., Mr. been so richly paid fashion and television giants is Mr. Fink has turned estate finance decisions Mr. Dolan available for Mr. soaring oil prices. best-paid CEOs on Frankfort for shepherding a business have tough, particularly the firm into the company made the makes as the Murdoch, as the Hess is involved in Wall Street, largely transformed the company whose rarely failed Mr. for a company world’s largest list largely because team’s owner, but Australian company all aspects of black because his 70-year-old leather stock performance Lauren since he whose DNA is money manager, of the $86 million analysts have long reincorporated in gold: searching for contract allows him goods maker into a has been so launched Polo with based in a local with $3.5 trillion in he collected just as recognized that he the United States in it all over the world, to pocket what fashion superstar. ordinary. AmEx’s a $50,000 loan in phone company investor assets. He mortgage mania runs one of the 2004. But his drilling and refining amounts to 20% of Positioning Coach shares are about 1967. The designer fattened for has also made it was really heating most successful compensation over it, then selling it in annual revenues at handbags and where they were a established himself decades on an Uncle Sam’s up in 2003. The cable carriers in the that time is enough 1,400 gas stations. his asset gloves as items of decade ago. The by selling clothes ironclad monopoly. favorite money last few years have business. Revenues to place him in the Earnings in 2010 management firm. “affordable luxury,” company that every preppy But Mr. manager. been a different have nearly doubled past decade’s top were more than No shareholder can Mr. Frankfort has weathered the had to have, then Seidenberg’s costly BlackRock is story, of course, in the past decade. 10 corporate double the levels of challenge this made the company financial crisis broadened his bet that Verizon’s helping the Federal and Mr. Sugarman The trouble: winning earners in New a decade ago, arrangement, 10 times as thanks in part to brand to include FiOS service would Reserve manage has been working over investors. York. Here’s one though wild swings because Mr. profitable as it was billions in bailout housewares and persuade TV tens of billions of with bankers to Cablevision’s stock metric Mr. Murdoch in petroleum prices Gabelli holds all of a decade ago. Its assistance; it must accessories. Mr. watchers to cut the dollars in assets restructure iStar’s is down 28% since surely cares a lot have made the ride the class of stock stock has soared now deal with a Lauren has staked cable shows signs taken over from debts. The stock’s 2001, including the about: Over the anything but that gives him 1,460% since the Justice Department strong claims in the of paying off. In the troubled banks, performance, up performance of past decade, his smooth. unquestioned beginning of 2001, lawsuit, filed last luxury and meantime, the and it is an adviser 50% over the past Madison Square company’s stock control of the four times as much year, alleging mainstream company owns on managing 10 years, is Garden, spun off had a return of 7%, boardroom. as the gain for any anticompetitive markets; his name 55% of America’s insurance colossus impressive given last year to highlight while The New York other business practices. can be found on largest cell-phone AIG. the sector’s titanic the company’s Times Co.’s fell listed here. $20 T-shirts and network. problems. strength as a class 63%. $14,000 handbags. cable play.

2010 2010 2010 2010 2010 2010 2010 2010 2010 2010 Fortunate Fortunate Fortunate Fortunate Fortunate Fortunate Fortunate Fortunate Fortunate Fortunate 100 rank 3 100 rank 30 100 rank 19 100 rank 4 100 rank 15 100 rank 7 100 rank 48 100 rank 34 100 rank 17 100 rank 33

16 | Crain’s New York Business | June 20, 2011 CN014139 12/10/10 3:34 PM Page 1

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REPORT EXECUTIVE PA Y New York Area’s Fortunate 100 Chief executives ranked by 2010 compensation

Total Nonequity Option Stock Other compensation Base salary Bonus incentive plan awards awards compensation Company’s One-year in 2010 in 2010 in 2010 in 2010 in 2010 in 2010 in 2010 2010 revenue shareholder Rank CEO (age) Company (ticker) (in thousands) (in thousands) (in thousands) (in thousands) (in thousands) (in thousands) (in thousands) (in millions) return 1 Philippe P. Dauman (57) Viacom Inc. (VIA.B)1 $84,469.5 $2,625.0 $0.0 $11,250.0 $28,620.0 $41,833.3 $141.2 $13,356.0 2 +29.6% 2 2 Leslie Moonves (61) CBS Corp. (CBS) $56,859.2 $3,513.5 $27,500.0 $0.0 $14,868.0 $8,000.0 $2,977.7 $14,059.8 +37.0% 3 Mario J. Gabelli (68) Gamco Investors Inc. (GBL) $56,608.7 $0.0 $0.0 $0.0 $0.0 $0.0 $56,608.7 3 $280.4 +3.2% 4 Ralph Lauren (70) Polo Ralph Lauren Corp. (RL) $27,700.0 $1,250.0 $0.0 $19,500.0 $2,213.0 $4,061.3 $675.8 $4,978.9 +102.0% 5 Jeffrey L. Bewkes (58) Time Warner Inc. (TWX) $26,136.8 $2,000.0 $0.0 $14,420.0 $4,073.6 $5,519.1 $124.1 $26,888.0 +13.3% 6 Samuel J. Palmisano (59) International Business Machines Corp. (IBM) $25,180.7 $1,800.0 $0.0 $9,000.0 $0.0 $13,319.5 $1,061.2 $99,870.0 +14.0% 7 Laurence D. Fink (58) BlackRock Inc. (BLK) $23,839.3 $500.0 $10,175.0 $0.0 $0.0 $12,805.5 $358.8 $8,612.0 -16.2% 8 Michael A.J. Farrell (59) Annaly Capital Management Inc. (NLY) $23,625.0 $2,715.0 $20,909.8 $0.0 $0.0 $0.0 $0.2 $2,634.9 +18.6% 9 James Dimon (55) J.P.Morgan Chase & Co. ( JPM) $20,776.3 $1,000.0 $5,000.0 $0.0 $6,244.3 $7,952.4 $579.6 $115,475.0 +2.3% 10 Louis C. Camilleri (56) Philip Morris International (PM) $20,635.6 $1,708.3 $0.0 $7,875.0 $0.0 $10,563.7 $488.6 $67,713.0 +26.5% 11 Henry R. Kravis (67) KKR & Co. (KKR) $20,130.8 $300.0 $0.0 $0.0 $0.0 $0.0 $19,830.8 $9,667.6 n/a 4 12 George R. Roberts (67) KKR & Co. (KKR) $20,090.1 $300.0 $0.0 $0.0 $0.0 $0.0 $19,790.1 $9,667.6 n/a 4 13 Jay S. Fishman (58) Travelers Cos. (TRV) $19,800.2 $1,000.0 $0.0 $6,250.0 $5,251.6 $6,610.0 $688.5 $25,112.0 +14.6% 14 Robert P. Kelly (56) Bank of New York Mellon Corp. (BK) $19,379.3 $1,000.0 $0.0 $5,610.0 $4,896.1 $7,516.7 $356.5 $14,483.0 +9.3% 15 Ivan G. Seidenberg (64) Verizon Communications Inc. (VZ) $17,901.4 $2,100.0 $0.0 $3,937.5 $0.0 $11,156.3 $707.6 $106,565.0 +19.3% 16 Glenn A. Britt (61) Time Warner Cable Inc. (TWC) $17,301.8 $1,250.0 $0.0 $8,306.3 $4,395.3 $3,053.4 $296.9 $18,868.0 +63.4% 17 K. Rupert Murdoch (79) News Corp. (NWS.A) $16,815.3 $8,100.0 $0.0 $4,368.8 $0.0 $4,050.0 $296.5 $32,778.0 +32.8% 18 David B. Snow Jr. (56) Medco Health Solutions Inc. (MHS) $16,364.2 $1,300.0 $0.0 $2,700.0 $9,906.6 $2,406.9 $50.7 $65,968.3 -4.1% 19 Kenneth I. Chenault (59) American Express Co. (AXP) $16,252.9 $1,942.3 $2,000.0 $0.0 $9,164.9 $2,050.0 $1,095.6 $30,242.0 +7.7% 20 John R. Strangfeld Jr. (57) Prudential Financial Inc. (PRU) $16,186.2 $1,000.0 $6,100.0 $475.7 $2,424.3 $6,107.5 $78.7 $38,414.0 +20.3% 21 William J. Lynch Jr.5 (40) Barnes & Noble Inc. (BKS) $15,710.0 $812.3 $900.0 $0.0 $2,860.0 $11,035.0 $102.7 $5,810.6 -11.8% 22 Timothy M. Armstrong (40) AOL Inc. (AOL) $15,296.6 $1,000.0 $0.0 $2,337.5 $7,075.1 $4,868.2 $15.7 $2,416.7 +1.8% 23 James P. Gorman6 (52) Morgan Stanley (MS) $14,854.0 $800.0 $3,880.0 $0.0 $0.0 $10,167.9 $6.1 $38,036.0 -7.4% 24 Ian M. Cook (58) Colgate-Palmolive Co. (CL) $14,178.0 $1,150.0 $0.0 $3,381.0 $3,904.8 $5,483.3 $258.9 $15,564.0 +0.3% 25 Lloyd C. Blankfein (56) Goldman Sachs Group Inc. (GS) $14,114.1 $600.0 $5,400.0 $0.0 $0.0 $7,650.0 $464.1 $45,967.0 +0.4% 26 Brian Duperreault (63) Marsh & McLennan Cos. (MMC) $14,038.2 $1,000.0 $0.0 $4,650.0 $6,000.0 $2,000.0 $388.2 $10,550.0 +27.5% 27 Indra K. Nooyi (55) PepsiCo Inc. (PEP) $14,032.3 $1,300.0 $0.0 $3,000.0 $3,508.0 $6,000.0 $224.3 $57,838.0 +10.6% 28 Fabrizio Freda (53) Estée Lauder Cos. (EL) $13,875.8 $1,500.0 $0.0 $3,649.0 $1,957.4 $6,687.5 $81.9 $7,795.8 +72.3% 29 C. Robert Henrikson7 (63) MetLife Inc. (MET) $13,867.9 $1,000.0 $0.0 $4,500.0 $4,088.0 $3,933.3 $346.6 $52,717.0 +27.8% 30 Lew Frankfort (64) Coach Inc. (COH) $13,739.1 $1,214.1 $0.0 $2,428.0 $4,374.7 $5,550.0 $172.3 $3,607.6 +37.4% 31 Martin E. Franklin (46) Jarden Corp. ( JAH) $13,718.2 $2,034.7 $2,034.7 $2,034.7 $0.0 $7,065.6 $548.4 $6,022.7 +0.9% 32 Michael T. Strianese (55) L-3 Communications Holdings Inc. (LLL) $13,714.1 $1,287.9 $2,600.0 $0.0 $3,670.0 $6,011.8 $144.4 $15,680.0 -17.1% 33 John B. Hess (56) Hess Corp. (HES) $13,698.3 $1,500.0 $1,140.3 $2,609.7 $4,217.5 $4,216.1 $14.7 $33,862.0 +27.2% 34 James L. Dolan (55) Cablevision Systems Corp. (CVC) $13,320.7 $1,500.0 $0.0 $8,647.4 $0.0 $2,815.0 $358.3 $7,231.2 +50.5% 35 Klaus Kleinfeld (53) Alcoa Inc. (AA) $12,348.7 $1,400.0 $0.0 $2,604.0 $4,139.1 $4,000.3 $205.3 $21,013.0 -3.8% 36 Ajay S. Banga 8 (51) MasterCard Inc. (MA) $11,855.8 $850.0 $2,123.9 $1,900.0 $2,200.1 $4,632.5 $149.3 $5,539.0 -12.2% 37 Francisco B. D’Souza (42) Cognizant Technology Solutions Corp. (CTSH) $11,182.5 $539.1 $0.0 $817.0 $0.0 $9,825.0 $1.5 $4,592.4 +61.7% 38 Lamberto Andreotti 9 (60) Bristol-Myers Squibb Co. (BMY) $10,907.5 $1,347.9 $0.0 $3,131.5 $0.0 $5,808.7 $619.4 $19,484.0 +8.7% 39 Howard W. Lutnick (49) BGC Partners Inc. (BGCP) $10,750.0 $1,000.0 $0.0 $9,750.0 $0.0 $0.0 $0.0 $1,331.1 +90.3% 40 Katherine L. Krill (56) Ann Inc.10 (ANN) $10,299.1 $1,200.0 $0.0 $5,166.0 $1,206.4 $2,710.2 $16.4 $1,980.2 +76.1% 41 Michael I. Roth (65) Interpublic Group of Companies Inc. (IPG) $10,199.9 $1,400.0 $0.0 $3,400.0 $1,666.7 $3,333.3 $399.9 $6,531.9 +43.9% 42 Mark P. Frissora (55) Hertz Global Holdings Inc. (HTZ) $10,102.3 $1,131.3 $0.0 $2,658.0 $2,938.5 $2,972.4 $402.2 $7,562.5 +21.6% 43 Steven R. Loranger (59) ITT Corp. (ITT) $10,032.2 $1,154.2 $0.0 $2,328.4 $2,047.5 $4,187.4 $314.8 $10,995.0 +6.8% 44 Michael D. Fascitelli (54) Vornado Realty Trust (VNO) $9,941.0 $1,000.0 $5.7 $0.0 $3,500.4 $5,157.3 $277.6 $2,779.7 +22.9% 45 Mel Karmazin (67) Sirius XM Radio Inc. (SIRI) $9,907.4 $1,500.0 $8,400.0 $0.0 $0.0 $0.0 $7.4 $2,817.0 +171.7% 46 Andrea Jung (52) Avon Products Inc. (AVP) $9,884.2 $1,375.0 $0.0 $5,362.5 $2,956.7 $0.0 $190.0 $10,862.8 -5.0% 47 Timothy M. Ring (53) C.R. Bard Inc. (BCR) $9,738.9 $1,050.0 $0.0 $1,320.4 $2,450.5 $4,133.7 $784.3 $2,720.2 +18.7% 48 Jay Sugarman (49) iStar Financial Inc. (SFI) $9,723.2 $1,000.0 $5,559.0 $0.0 $0.0 $3,153.5 $10.7 $575.3 +205.5% 49 Frits D. van Paasschen (50) Starwood Hotels & Resorts Worldwide Inc. (HOT) $9,546.6 $1,208.3 $0.0 $3,000.0 $1,210.4 $3,956.3 $171.6 $5,071.0 +67.0% 50 Robert F. Orlich (63) Transatlantic Holdings Inc. (TRH) $9,258.8 $1,000.0 $550.0 $1,850.0 $0.0 $5,502.5 $356.2 $4,362.2 +0.6% 51 Wesley R. Card (63) Jones Group Inc.11 ( JNY) $9,030.4 $1,600.0 $0.0 $2,000.0 $0.0 $5,200.0 $230.4 $3,642.7 -2.0% 52 Douglas D. Tough 12 (61) International Flavors & Fragrances Inc. (IFF) $8,899.0 $1,000.0 13 $500.0 $3,234.0 $278.1 $3,684.5 $202.4 $2,622.9 +37.7% 53 Harold W. McGraw III (62) McGraw-Hill Cos. (MHP) $8,429.7 $1,390.5 $0.0 $1,735.0 $3,256.0 $1,430.9 $617.2 $6,168.3 +11.5% 54 Robert H. Benmosche (66) American International Group Inc. (AIG) $8,405.8 $3,000.0 $0.0 $0.0 $0.0 $5,380.8 $25.0 $77,301.0 +92.2%

18 | Crain’s New York Business | June 20, 2011 20110620-NEWS--0018,0019-NAT-CCI-CN_-- 6/16/2011 8:16 PM Page 2

REPORT EXECUTIVE PA Y

Total Nonequity Option Stock Other compensation Base salary Bonus incentive plan awards awards compensation Company’s One-year in 2010 in 2010 in 2010 in 2010 in 2010 in 2010 in 2010 2010 revenue shareholder Rank CEO (age) Company (ticker) (in thousands) (in thousands) (in thousands) (in thousands) (in thousands) (in thousands) (in thousands) (in millions) return 55 Scott L. Bok (51) Greenhill & Co. (GHL) $8,273.4 $600.0 $0.0 $0.0 $0.0 $7,316.9 $356.5 $278.3 +4.0% 56 Howard Solomon (82) Forest Laboratories Inc. (FRX) $8,267.2 $1,277.5 $900.0 $0.0 $2,077.1 $3,908.1 $104.5 $4,192.9 +42.8% 57 Joseph R. Gromek (64) Warnaco Group Inc. (WRC) $8,255.6 $1,141.7 $0.0 $3,225.8 $982.0 $2,391.7 $514.6 $2,295.8 +30.5% 58 William J. Pesce (59) John Wiley & Sons Inc. ( JWA) $8,185.5 $980.0 $611.9 $1,474.5 $2,318.0 $2,684.7 $116.4 $1,699.1 +26.3% 59 Ronald J. Kramer (52) Griffon Corp. (GFF) $8,021.1 $800.0 $0.0 $5,000.0 $0.0 $2,119.0 $102.1 $1,294.0 +21.1% 60 Ronald E. Hermance Jr. (63) Hudson City Bancorp Inc. (HCBK) $7,861.5 $1,621.5 $0.0 $2,000.0 $3,587.5 $0.0 $652.4 $2,947.5 -2.8% 61 Ralph Izzo (53) Public Service Enterprise Group Inc. (PEG) $7,849.8 $946.5 $0.0 $1,113.9 $0.0 $5,726.0 $63.4 $11,793.0 -0.2% 62 Edward J. Ludwig (59) Becton Dickinson & Co. (BDX) $7,846.1 $1,070.0 $0.0 $850.0 $2,965.6 $2,926.0 $34.4 $7,372.3 +8.4% 63 John D. Wren (58) Omnicom Group Inc. (OMC) $7,768.8 $1,000.0 $0.0 $6,600.0 $0.0 $0.0 14 $168.8 $12,542.5 +19.0% 64 Ken C. Hicks (58) Foot Locker Inc. (FL) $7,632.5 $1,100.0 $500.0 $2,776.9 $1,339.5 $1,741.4 $174.6 $5,049.0 +63.5% 65 Peter J. McNierney 15 (45) Gleacher & Co. (GLCH) $7,354.8 $300.0 $1,875.0 $0.0 $3,092.0 $2,087.8 $0.0 $282.2 -46.9% 66 Stephen I. Sadove (59) Saks Inc. (SKS) $7,256.5 $985.8 $0.0 $3,468.1 $0.0 $2,678.6 $124.1 $2,785.7 +82.0% 67 Kevin Burke (60) Consolidated Edison Inc. (ED) $7,087.1 $1,118.6 $0.0 $1,805.6 $0.0 $4,063.4 $99.6 $13,325.0 +14.4% 68 Michael J. Kowalski (59) Tiffany & Co. (TIF) $7,062.4 $959.0 $0.0 $1,550.0 $1,472.0 $2,914.3 $167.1 $3,085.3 +45.5% 69 Duncan L. Niederauer (51) NYSE Euronext Inc. (NYX) $7,058.0 $1,000.0 $2,375.0 $0.0 $0.0 $3,625.0 $58.0 $4,425.0 +23.2% 70 Stephen A. Schwarzman (64) Blackstone Group (BX) $6,737.1 $350.0 $0.0 $0.0 $0.0 $0.0 $6,387.1 $3,119.3 +12.4% 71 William L. McComb (48) Liz Claiborne Inc. (LIZ) $6,716.9 $1,300.0 $0.0 $400.0 $2,703.9 $2,154.5 $158.5 $2,500.1 +27.2% 72 John A. Thain 16 (55) CIT Group Inc. (CIT) $6,689.1 $451.913 $0.0 $0.0 $0.0 $6,196.2 $41.1 $6,362.5 +70.6% 73 Frank J. Coyne (62) Verisk Analytics Inc. (VRSK) $6,677.9 $1,000.0 $0.0 $3,000.0 $2,610.0 $0.0 $67.9 $1,138.3 +12.6% 4 7 David T. Hamamoto (51) NorthStar Realty Finance Corp. (NRF) $6,665.4 $950.0 $817.6 $2,452.9 $0.0 $2,435.1 $9.8 $453.7 +50.1% 75 Eric Krasnoff (58) Pall Corp. (PLL) $6,447.2 $918.3 $0.0 $1,377.4 $1,600.0 $2,500.0 $51.4 $2,401.9 +29.2% 76 Ian C. Read 17 (57) Pfizer Inc. (PFE) $6,419.5 $1,199.0 $0.0 $1,500.0 $837.6 $2,673.3 $209.7 $67,809.0 +0.2% 77 Gary C. Butler (63) Automatic Data Processing Inc. (ADP) $6,360.1 $1,000.0 $0.0 $2,020.0 $1,723.5 $1,440.6 $176.0 $8,927.7 +17.4% 78 Robert B. Pollock (56) Assurant Inc. (AIZ) $6,212.6 $950.0 $0.0 $2,208.8 $0.0 $2,856.0 $197.8 $8,527.7 +32.8% 79 Albert G. Lowenthal (65) Oppenheimer Holdings Inc. (OPY) $6,180.6 $500.0 $0.0 $3,074.8 $0.0 $2,600.0 $5.8 $1,035.1 -19.8% 80 Thomas M. Joyce (56) Knight Capital Group Inc. (KCG) $6,166.8 $750.0 $0.0 $2,699.4 $0.0 $2,620.5 $96.9 $1,149.1 -10.5% 81 William F. Ruprecht (55) Sotheby’s (BID) $5,968.0 $691.7 $0.0 $2,650.0 $0.0 $2,153.2 $473.1 $774.3 +101.1% 82 Matthew M. Mannelly (52) Prestige Brands Holdings Inc. (PBH) $5,907.3 $299.713 $175.0 $380.9 $4,083.8 $966.6 $1.4 $302.0 +73.7% 83 Raymond W. McDaniel Jr. (53) Moody’s Corp. (MCO) $5,890.4 $936.0 $0.0 $2,643.6 $920.0 $1,380.0 $10.8 $2,032.0 +0.6% 84 Fred Kornberg (74) Comtech Telecommunications Corp. (CMTL) $5,844.2 $695.0 $0.0 $3,475.0 $1,573.8 $0.0 $100.4 $778.2 -32.3% 85 Richard J. Daly (57) Broadridge Financial Solutions Inc. (BR) $5,750.0 $675.0 $0.0 $1,377.5 $1,949.4 $1,694.4 $53.8 $2,209.2 +14.9% 86 Joseph R. Ficalora (64) New York Community Bancorp Inc. (NYB) $5,600.7 $1,000.0 $0.0 $1,250.0 $0.0 $2,587.5 $763.2 $2,251.7 +36.8% 87 Richard A. Barasch (57) Universal American Corp. (UAM) $5,498.5 $961.8 $0.0 $1,510.5 $814.1 $2,172.0 $40.0 $5,687.2 +91.9% 88 Henry A. Fernandez (52) MSCI Inc. (MSCI) $5,493.1 $600.0 $1,642.5 $0.0 $0.0 $3,233.0 $17.6 $662.9 +11.8% 89 Robert Greifeld (53) Nasdaq OMX Group Inc. (NDAQ) $5,337.4 $1,000.0 $0.0 $2,627.0 $0.0 $1,580.0 $130.4 $3,197.0 +19.7% 90 Michael J. Long (52) Arrow Electronics Inc. (ARW) $5,138.3 $800.0 $0.0 $1,500.0 $693.7 $2,100.0 $44.6 $18,744.7 +15.7% 91 James S. Tisch (58) Loews Corp. (L) $5,105.4 $975.0 $0.0 $2,725.0 $1,308.8 $0.0 $96.5 $14,615.0 +7.7% 92 Edgar M. Bronfman Jr. (55) Warner Music Group Corp. (WMG) $5,000.0 $1,000.0 $4,000.0 $0.0 $0.0 $0.0 $0.0 $2,984.0 -18.6% 93 William V. Hickey (66) Sealed Air Corp. (SEE) $4,940.1 $670.8 $0.0 $0.0 $0.0 $4,218.8 $50.5 $4,490.1 +18.7% 94 Weston M. Hicks (54) Alleghany Corp. (Y) $4,814.5 $1,000.0 $0.0 $1,650.0 $0.0 $1,976.4 $188.1 $985.4 +13.2% 95 David Sandler (53) MSC Industrial Direct Co. (MSM) $4,803.7 $740.0 $83.2 $997.8 $1,773.1 $750.0 $459.6 $1,692.0 +14.9% 96 Joseph C. Muscari (64) Minerals Technologies Inc. (MTX) $4,706.4 $900.0 $0.0 $1,717.1 $725.1 $1,278.1 $86.1 $1,002.4 +20.5% 97 John R. Peeler (56) Veeco Instruments Inc. (VECO) $4,623.7 $621.9 $0.0 $2,000.5 $1,516.7 $358.4 $126.3 $933.2 +30.0% 98 Peter S. Kraus (58) AllianceBernstein Holding (AB) $4,603.0 $275.0 $0.0 $0.0 $0.0 $0.0 $4,328.0 $162.2 -11.6% 99 Janet L. Robinson (60) New York Times Co. (NYT) $4,484.9 $1,000.0 $0.0 $2,324.4 $906.4 $151.9 $102.2 $2,393.5 -20.7% 100 Irwin D. Simon (52) Hain Celestial Group Inc. (HAIN) $4,320.9 $1,400.0 $0.0 $2,200.0 $662.3 $0.0 $58.6 $917.3 +29.2%

Compensation and shareholder return data provided by Equilar Inc., Redwood Shores, Calif., (877) 441-6090, www.equilar.com. Company data provided by Compustat, Centennial, Colo., (800) 523-4534, www.compustat.com; Capital IQ, Manhattan, www.capitaliq.com. Additional research by Dana Gordon, Suzanne Panara and Irvin Ibarguen. New York area includes New York City and Nassau, Suffolk and Westchester counties in New York, and Bergen, Essex, Hudson and Union counties in New Jersey.This ranking is based on Crain’s list of the 250 largest publicly held companies in the New York area, published on May 23, 2011, and includes CEOs who were with those companies at the end of their most recent fiscal years. Executives may share the CEO title and/or have additional titles. Executives’ ages are derived from biographical information disclosed in company proxy statements and may not reflect recent birthdays. Base salaries are taken as disclosed from the Summary Compensation Table and are not annualized for executives employed for less than a full fiscal year. All financial data are derived from the most recent 10-K’s available as of April 30, 2011. The most recent data for companies with fiscal years ending in March through December are for the year ended in 2010, and the most recent data for companies with fiscal years ending in January and February are for the year ended in 2011. Compensation data are derived from company filings available from the SEC as of April 30, 2011. Compensation and financial figures have been rounded to one decimal place. Total compensation represents the sum of base salary, bonus, nonequity incentive plan, grant date fair value of option and stock awards, and other compensation. Salary may be paid for a full year or for a partial year, if an executive commenced employment during the year. Nonequity incentive plan represents cash awards earned in connection with short- and long-term incentive plan awards given in the last year. Option awards represent the aggregate grant date fair value of service- and performance-based option awards given in the last year. Stock awards represent the aggregate grant date fair value of service- and performance-based stock awards given in the last year. Other compensation represents the value of benefits and perquisites given in the last year. One-year shareholder return represents the change in stock price plus any dividends paid over the most recent fiscal year. n/a Not applicable. 1-Data are for the nine-month period ended Sept. 30, 2010, except where noted. 2-Fiscal year changed to Sept. 30 from Dec. 31. Data are for the 12 months ended Sept. 30, 2010. 3-Mr. Gabelli receives only management fees and fees for acting as portfolio manager. 4-KKR, whose common units began trading on the New York Stock Exchange on July 15, 2010, does not yet have a stock price for one complete year. 5-Mr. Lynch became CEO on March 18, 2010. 6-Mr. Gorman became CEO on Jan. 1, 2010. 7-Mr. Henrikson left the CEO position on May 1, 2011. 8-Mr. Banga became CEO on July 1, 2010. 9-Mr. Andreotti became CEO on May 4, 2010. 10-Company changed its name from AnnTaylor Stores Corp. on March 15, 2011. 11-Company changed its name from Jones Apparel Group on Oct. 24, 2010. 12-Mr. Tough became CEO on March 1, 2010. 13-Salary not annualized. 14-Excludes performance-based restricted stock units with a value of $3,000,000 granted in fiscal 2011 based on performance in 2010. 15-Mr. McNierney became interim CEO on Oct. 27, 2010, and left the interim CEO position on May 2, 2011. 16-Mr. Thain became CEO on Feb. 8, 2010. 17-Mr. Read became CEO on Dec. 5, 2010.

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ACCOUNTING SERVICES PUBLIC & LEGAL NOTICES

FORENSIC ACCOUNTANT Notice of Qualification of IRG 38 LLC. Notice of Qualification of ALVAREZ & NOTICE OF FORMATION OF Notice of Qualification of 180 Orchard Fraud Investigation, Litigation Authority filed with Secy. of State of NY MARSAL GLOBAL ASSET ADVISORY Quartermaster Corps LLC. Articles Owner LLC. App for Auth. filed with Support in Fraudulent activities, (SSNY) on 06/06/11. Office location: SERVICES, LLC. Authority filed with of Organization filed with the Secy. of State of NY (SSNY) on matrimonial and commercial matters. NY County. LLC formed in Delaware Secy. of State of NY (SSNY) on Secretary of State of NY (SSNY) on 4/27/11. Office location: NY County. Security & prevention procedures. (DE) on 06/03/11. Princ. office of LLC: 06/02/11. Office location: NY County. March 24, 2011. Office location: LLC formed in Delaware (DE) on Business valuations and split ups. ELB Holdings c/o Eric L. Birnbaum, LLC formed in Delaware (DE) on NEW YORK County. SSNY has been 4/18/11. SSNY designated as agent Matters relating to Grievance Committee. 745 5th Ave., NY, NY 10151. SSNY 06/03/10. Princ. office of LLC: Joel designated as agent upon whom of LLC upon whom process against (718) 629-8767 designated as agent of LLC upon A. Poretsky, Esq., Alvarez & Marsal, process against it may be served. it may be served. SSNY shall mail whom process against it may be 600 Lexington Ave., NY, NY 10022. The Post Office address to which the process to: c/o Brack Capital Real BUSINESS OPPORTUNITY served. SSNY shall mail process to SSNY designated as agent of LLC SSNY shall mail a copy of any process Estate Ltd., 885 Third Ave., NY, NY the LLC at the addr. of its princ. office. upon whom process against it may against the LLC served upon him/her 10022, Attn: Issac Hera. DE address E-Commerce- Start-up Company look- DE addr. of LLC: 2711 Centerville be served. SSNY shall mail process is: 1240 N. Lake Shore Drive, #4B, of LLC: c/o Diversified Corporate Rd., Ste. 400, Wilmington, DE 19808. to c/o Corporation Service Co. Services Int’l, Inc., 508 Main St., ing for an experienced or all around knowl- C/O Ellis Regenbogen, Chicago, IL Cert. of Form. filed with Secy. of (CSC), 80 State St., Albany, NY 60610. The principal business address Wilmington, DE 19804. Cert. of Form. edgeable executive. Equity/partnership. State, 401 Federal St., Dover, DE 12207-2453. DE addr. of LLC: c/o filed with DE Secy. of State, 401 Golden opportunity 917-887-6520. of the LLC is: 1240 N. Lake Shore 19901. Purpose: Any lawful activity. CSC, 2711 Centerville Rd., Ste. 400, Drive, #4B, Chicago, IL 60610. Federal St., Ste. 4, Dover, DE 19901. Wilmington, DE 19808. Cert. of Purpose: any lawful activity. NOTICE OF FORMATION OF ZNTAI Purpose: any lawful act or activity. Form. filed with Secy. of State of Records LLC. Articles of Organization Notice of Formation of CUMULUS DE, 401 Federal St., Dover, DE Notice of Formation of ICS Manager filed with the Secretary of State of NY HR, LLC. Arts. Of Org. filed with Secy EXECUTIVE 19901. Purpose: Any lawful activity. 1501 86th Street, LLC. Arts. of Org. (SSNY) on 4/26/11. Office location: filed with Secy. of State of NY (SSNY) of State of NY (SSNY) on 05/31/2011. RECRUITER NEW YORK County. SSNY has been Notice of Formation of GREENACRES on 4/5/11. Office location: NY Co. Office location: New York County. designated as agent upon whom PRESERVATION, L.P. Cert. of LP filed SSNY designated as agent of LLC SSNY designated as agent of LLC process against it may be served. The with Secy. of State of NY (SSNY) on upon whom process against it may upon whom process against it may POSITION AVAILABLE Post Office address to which the 05/04/11. Office location: NY County. be served. SSNY shall mail process be served. SSNY shall mail process SSNY shall mail a copy of any process Princ. office of LP: 60 Columbus to: c/o Crown Acquisitions, Inc., Attn: to: c/o Harry Feinberg, 489 Fifth Developer against the LLC served upon him/her Circle, NY, NY 10023. Latest date on Avenue, Second Fl., New York, N.Y. is: c/o Mario Larrea, 166 First Ave. #1, Richard Chera, 362 Fifth Ave., Ste. Global Interest Rate Products which the LP may dissolve is 1201, NY, NY 10001. Purpose: any 10017 Purpose: any lawful activities. (Citadel LLC - New York, NY) Develop & New York, NY 10009. The principal 12/31/2111. SSNY designated as business address of the LLC is: 166 lawful activities. Notice of Formation of STUART KLODA, enhance core software components to agent of LP upon whom process MD, PLLC. Arts. of Org. filed with Secy. First Ave. #1, New York, NY 10009. against it may be served. SSNY shall Notice of Formation of 306 WEST 97 organize & interpret financial data for the Purpose: any lawful act or activity. COVE CLUB EQUITIES LLC. Arts. of of State of NY (SSNY) on 05/31/11. Rates business. Req’s Master’s deg. in mail process to c/o Corporation Office location: NY County. Princ. RESOURCE FURNITURE LICENSING, Org. filed with Secy. of State of NY Finan Engineering, Comp Sci, Engineering, Service Co., 80 State St., Albany, NY office of PLLC: Stuart Kloda, MD, 500 LLC, a domestic Limited Liability (SSNY) on 06/01/11. Office location: Math or rel quant field & 1 yr exp dvlpng 12207. Name and addr. of each NY County. Princ. office of LLC: 55 W. 56th St., Apt. 524, NY, NY 10019. Company (LLC), filed with the Sec of interest rate related software apps & general partner are available from Fifth Ave., 15th Fl., NY, NY 10003- SSNY designated as agent of PLLC State of NY on 3/17/11. NY Office components utilizing C++ on Linux & SSNY. Purpose: Any lawful activity. 4398. SSNY designated as agent of location: New York County. SSNY is upon whom process against it may Windows for use in front office environ. OPPCAP GROUP LLC, a domestic LLC upon whom process against it designated as agent upon whom be served. SSNY shall mail process All stated exp must incl the following: Limited Liability Company (LLC), filed may be served. SSNY shall mail process against the LLC may be to the PLLC at the addr. of its princ. performing Python, Perl Scripting, SQL with the Sec of State of NY on 4/15/11. process to Robert Kantor at the princ. office. Purpose: Any lawful activity. served. SSNY shall mail a copy of office of the LLC, regd. agent upon & C++ programming; providing object- any process against the LLC served NY Office location: New York County. Name: TradeSense LLC. Art. Of Org. oriented analysis & design; database SSNY is designated as agent upon whom and at which process may be upon him/her to The LLC, 969 Third served. Purpose: Any lawful activity. Filed Sec. Of State of NY on 12/23/10. programming for Sybase ASE using ODBC; Ave., NY, NY 10022. General Purposes. whom process against the LLC may Off. Loc.: New York Co. SSNY fundamental knowledge of interest rate be served. SSNY shall mail a copy of Notice of Formation of Betty Rose designated as agent upon whom Notice is hereby given that a license, products & pricing; & liaising w/ traders, any process against the LLC served Properties LLC. Arts. of Org. filed process against it may be served. number 1254589 for on-premise liquor researchers, & portfolio mngrs in support upon him/her to Francis Hager, 14 with Secy. of State of NY (SSNY) on SSNY to mail copy of process to has been applied for by the undersigned of investment mgmnt activities. Deer Path Ln., Berkeley Heights, NJ 6/1/11. Office location: NY Co. SSNY TradeSense LLC , 301 E. 79th St. to sell liquor, beer & wine at retail in a Resumes: 07922. General Purposes. designated as agent of LLC upon 24F, New York, NY 10075. Purpose: ER/EH, Attn: R-0151, Citadel restaurant under the Alcoholic Beverage The Public is hereby notified of the whom process against it may be Any lawful act or activity. LLC, 131 S. Dearborn St., 32nd Fl, Control Law at 129 W. 56 St., N.Y., N.Y. Formation of a limited liability served. SSNY shall mail process to: Chicago, IL 60603. 10019 for on premise consumption. THERMOCYCLOMICS, LLC, a company in the county of Kings in c/o Eric W. Rubinstein, Esq., Kaufman Busara’s House Incorporated t/a Friedman Plotnicki & Grun, LLP, 300 domestic Limited Liability Company the State of New York. The company Topaz Thai Restaurant East 42nd St., 8th Fl., NY, NY 10017, (LLC), filed with the Sec of State of name: HUR Trading LLC. The REAL ESTATE also the registered agent. Purpose: NY on 2/18/11. NY Office location: The Public is hereby notified of the address is: 1074 Coney Island any lawful activities. NEW YORK County. SSNY is desig- Formation of a limited liability com- Avenue, Brooklyn, NY 11230. nated as agent upon whom process Notice of Qualification of Miller Pipeline, pany in the county of Kings in the against the LLC may be served. SSNY COMMERCIAL Notice of Formation of Donzoola LLC. LLC. Authority filed with NY Dept. of State of New York. The company Articles of Org. filed with Secy. of State shall mail a copy of any process Thow LLC. 23 State on 6/2/11. Office location: NY HUDSON VALLEY AREA of NYS name: The address is: of NY (SSNY) on 05/19/11. Office against the LLC served upon him/her Brighton 4 Terr, Brooklyn, NY 11235. County. LLC formed in IN on 12/31/10. 1)Hospital 100 Beds 22ac, assisted living loc.: New York Co. SSNY designated NY Sec. of State designated agent of to The LLC, 200 W. 57th St., Ste. 1301, 2)School 60K SF Gym Pool Borders Park ROTHSCHILD REALTY ASSOCIATES, as agent of LLC upon whom process LLC upon whom process against it NY, NY 10019. General Purposes. 3)Investment. Chase Bank Anchor 25K sf LLC; Arts., of Org., filed with NY Sec. against it may be served. SSNY shall may be served and shall mail process NOTICE OF FORMATION OF Farley 4)Pvt Airport 3850”RW Dvlopmnt Land of State (“SSNY”) 5/16/2011. Office in mail process to the LLC, 49 E 21st to: c/o CT Corporation System, 111 Realty Group LLC filed with the 5)Legendary Music Venue 1000 Seats New York County; SSNY designated ST APT 2D, New York, NY 10010. 8th Ave., NY, NY 10011, regd. agent Secretary of State of NY (SSNY) on 6)200,000 SF Bio, Hi-Tech, Back Office agent for service of process with copy Purpose: any lawful act or activity. upon whom process may be served. 2/25/11. Office loc: NEW YORK Cty. www.crproperties.com 845-485-3100 mailed to The LLC, 265 E. 66th Street, NOTICE OF FORMATION of IN and principal business addr.: SSNY designated as agent upon whom NY, NY 10065, Attn: Marc Rothschild, McKane-Lins, LLC. Arts. of Org. filed 8850 Crawfordsville Rd., Indianapolis, process may be served. SSNY shall All lawful business purposes. with Secy. of State of NY (SSNY) on IN 46234. Cert. of Form. filed with IN mail process to the LLC: 60 E 42nd Sec. of State, 302 W. Washington St., NOTICE OF FORMATION of RACHEL 4/26/11. Office location: NY County. Street, Suite 1841, New York, New TELECOMMUNICATIONS SSNY designated as agent of LLC Indianapolis, IN 46204. Purpose: all York 10165. Purpose: any lawful acts. HOVNANIAN ART LLC. Arts. Of Org. lawful purposes. filed with Secy. of State of NY (SSNY) upon whom process against it may Notice of formation of Krys Hall, CPA, NYC'S MOTOROLA on 5/11/11. Office location: NY be served. SSNY shall mail process NOTICE OF FORMATION of Peasant LLC Arts of org filled with Sec of MOTOTRBO SPECIALISTS County. SSNY designated as agent to: 520 E. 90th St., 2A, NY, NY Prince Productions LLC. Article of State 6/15/11. Office location: NY upon whom process against the LLC 10128. Purpose: any lawful activity. Organization filed with the Secretary County. SSNY designated as agent may be served. SSNY shall mail of State of NY (SSNY) on 04/11/2011. HIDDEN VALLEY FILMS LLC, a for processing. SSNY shall mail a process to Rachel Hovnanian Art LLC, Office location: NY County. SSNY has domestic Limited Liability Company copy of any process to: 35 Orchard 16 West 12th St., NY, NY 10011. been designated as agent upon whom Street Albany, NY 10255. Purpose to (LLC), filed with the Sec of State of NY process against it may be served. Purpose: any lawful act or activity. in engage in any lawful act. on 5/27/11. NY Office location: New The Post Office address to which the NOTICE OF FORMATION OF GENIUS York County. SSNY is designated as SSNY shall mail a copy of any process Notice of Formation of Jade Kee BRANDS LLC. Filed with Sec’y of agent upon whom process against the against the LLC served upon him is Wholesale LLC. Office of location: NY State of NY (SSNY) on 5/17/11. Office LLC may be served. SSNY shall mail C/O the LLC 265 East 66th Street, County. SSNY designated as agent loc: NY County. SSNY designated as a copy of any process against the LLC Apt 35G, NY, NY, 10065. Purpose of for processing. SSNY shall mail a agent upon whom process may be served upon him/her to The LLC, 242 LLC: to engage in any lawful act or copy of any process to 32 Orchard served. Mail copy of process to: USCA, West 38th St., P.O. Box 905, NY, NY activity. Street address of Principal Street, New York, NY 10022-5219. 7014 13th Ave, Ste 202, Bklyn, NY 10018. General Purposes. Business location is: 265 East 66th Purpose: to engage in any lawful act. 11228. LLC business address is: 350 Notice of Qualification of MILLENNIUM Street, Apt 35G, NY, NY, 10065. 5th Ave, FL 4, NY, NY 10118. Notice of Qualification of BAYRIDGE TECHNOLOGY VALUE PARTNERS II Notice of Qualification of SAVANNA Purpose: Any lawful acts. SECURITIES, LLC. Authority filed (GP), L.P. Authority filed with Secy. of SERVICES HOLDINGS, LLC. Authority with Secy. of State of NY (SSNY) on Name of For. LLC: Perella Weinberg State of NY (SSNY) on 06/03/11. filed with Secy. of State of NY (SSNY) 5/5/11. Office location: NY County. Partners ABV Opportunity Delaware Office location: NY County. LP formed on 05/25/11. Office location: NY LLC formed in Delaware (DE) on Intermediate Fund III LLC. App. for in Delaware (DE) on 10/14/08. Princ. County. LLC formed in Delaware (DE) 10/7/10. SSNY designated as agent 33 East 33rd Street Auth. filed NY Dept. of State: 5/10/11. office of LP: Millennium TVP II (UGP), on 05/24/11. Princ. office of LLC: 10 of LLC upon whom process against New York, NY 10016 Jurisd. and date of org.: DE 1/7/11 LLC, 747 Third Ave., 38th Fl., NY, NY E. 53rd St., 37th Fl., NY, NY 10022- it may be served. SSNY shall mail 212-532-7400 Cty off. loc.: NY Cty. Sec. of State 10017. SSNY designated as agent of 5056. SSNY designated as agent of process to: National Registered Agents, www.metrocomradio.com designated as agent of foreign LLC LP upon whom process against it may LLC upon whom process against it Inc., 875 Ave. of The Americas, Ste. upon whom process against it may be be served. SSNY shall mail process may be served. SSNY shall mail 501, NY, NY 10001. Principal office served. Sec. of State shall mail copy to the LP at the addr. of its princ. office. process to c/o Corporation Service address: The LLC, 825 Third Ave, 6th of process to: 767 Fifth Ave., NY, NY Name and addr. of each general Co., 80 State St., Albany, NY 12207- Floor, NY, NY 10022. Address to be 10153. Addr. of foreign LLC in DE is: partner are available from SSNY. DE 2543. DE addr. of LLC: 2711 maintained in DE: c/o National Corporation Service Company, 2711 addr. of LP: c/o Corporation Service Centerville Rd., Ste. 400, Wilmington, Registered Agents, Inc., 160 Greentree VISIT OUR WEBSITE Centerville Rd., Ste. 400, Wilmington, Co., 2711 Centerville Rd., Ste. 400, DE 19808. Cert. of Form. filed with Dr., Ste. 101, Dover, DE 19904. Arts DE 19808. Auth. officer in DE where Wilmington, DE 19808. Cert. of Form. Secy. of State of DE, Div. of Corps., of Org. filed with DE Secy. Of State, CRAINSNEWYORK.COM Cert. of Form. filed: DE Secy. of filed with Secy. of State of DE, Div. of John G. Townsend Bldg., 401 Federal John G. Townsend Bldg., 401 State, Duke & York St., Dover, DE Corps., 401 Federal St., Ste. 4, Dover, St., Ste. 4, Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. 19901. Purpose: any lawful activity. DE 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. Purpose: any lawful activities.

20 | Crain’s New York Business | June 20, 2011 nb25p20-22cl.qxp 6/17/11 5:03 PM Page 21

PUBLIC & LEGAL NOTICES

Notice of Qualification of COMCAST Notice of Qualification of Klingenstein NOTICE OF FORMATION OF The Notice of Qualification of SunRun Notice of Qualification of TAVROS VENTURES, LLC. Authority filed with Fields Asia Fund Management, LLC. First Robin Productions LLC. Solar Tenant IV, LLC. Authority filed MERCER MANAGER LLC. Authority Secy. of State of NY (SSNY) on Authority filed with NY Dept. of State Articles of Organization filed with with NY Dept. of State on 4/29/11. filed with Secy. of State of NY (SSNY) 05/17/11. Office location: NY County. on 11/18/10. Office location: NY the Secretary of State of NY (SSNY) Office location: NY County. Princ. on 05/13/11. Office location: NY LLC formed in Delaware (DE) on County. Princ. bus. addr.: 787 7th Ave., on 02/04/2011. Office location: NEW bus. addr.: 45 Fremont St., 32nd Fl., County. LLC formed in Delaware (DE) 05/10/11. SSNY designated as agent 6th Fl., NY, NY 10019. LLC formed in YORK County. SSNY has been San Francisco, CA 94105. LLC on 05/12/11. Princ. office of LLC: of LLC upon whom process against it DE on 10/21/10. NY Sec. of State designated as agent upon whom formed in CA on 2/17/11. NY Sec. of Attn: Dov Barnett, 33 W. 19th St., 4th may be served. SSNY shall mail process designated agent of LLC upon whom process against it may be served. The State designated agent of LLC upon Fl., NY, NY 10011. SSNY designated to c/o CT Corporation System, 111 process against it may be served and Post Office address to which the whom process against it may be as agent of LLC upon whom process Eighth Ave., NY, NY 10011. DE addr. shall mail process to: c/o CT SSNY shall mail a copy of any served and shall mail process to: c/o against it may be served. SSNY shall of LLC: c/o Comcast Capital Corporation System, 111 8th Ave., NY, process against the LLC served upon CT Corporation System, 111 8th mail process to the LLC at the princ. Corporation, 1201 N. Market St., Ste. NY 10011, regd. agent upon whom him/her is: United States Ave., NY, NY 10011, regd. agent office of the LLC. DE addr. of LLC: 1000, Wilmington, DE 19801. Cert. of process may be served. DE addr. of Corporation Agents, Inc. 7014 upon whom process may be served. c/o Corporation Service Co., 2711 LLC: The Corporation Trust Co., 1209 13th Ave Brooklyn, NY 11228. The Form. filed with DE Secy. of State, CA addr. of LLC: 818 W. 7th St., Los Centerville Rd., Ste. 400, Wilmington, Orange St., Wilmington, DE 19801. principal business address of the LLC 401 Federal St., Dover, DE 19901. Angeles, CA 90017. Cert. of Form. DE 19808. Cert. of Form. filed with Cert. of Form. filed with DE Sec. of is: 307 E. 78th St. 3W, NY, NY 10075. Purpose: Any lawful activity. filed with CA Sec. of State, 1500 State, 401 Federal St., Dover, DE Purpose: any lawful act or activity. Secy. of State of DE, 401 Federal St., Notice of Formation of HUDSON 11th St., Sacramento, CA 95814. Ste. 4, Dover, DE 19901. Purpose: 19901. Purpose: any lawful activity. Notice of Qual. of Southern New STREET SOUPS LLC. Arts. of Org. Purpose: any lawful activity. Any lawful activity. Notice of Qualification of JER England Electrical Testing LLC. Auth. filed with Secy. of State of NY (SSNY) Management, L.L.C. Authority filed filed with Sec of State NY (SSNY): NOTICE OF FORMATION of TOLM Notice of Formation of 182 Butler on 05/26/11. Office location: NY with NY Dept. of State on 4/26/11. NYS 4/21/11. Office in NY County. Formed ENTERPRISES LLC. Arts of Org filed Holding, LLC. Articles of Org. filed County. Princ. office of LLC: Hale and fict. name: JER Partners LLC. Office in CT: 11/30/07. SSNY designated with the Secy of State of New York with Secy. of State of NY (SSNY) on Hearty Soups LLC, 75 Ninth Ave., NY, location: NY County. Princ. bus. addr.: agent of LLC upon whom process (SSNY) on 03/25/2009. Office location: 05/24/11. Office location: New York NY 10011. SSNY designated as agent 1650 Tysons Blvd., Ste. 1600, McLean, against it may be served & shall mail NY County. SSNY has been designated Co. SSNY designated as agent of LLC of LLC upon whom process against it VA 22102. LLC formed in DE on process to 78 Dinatale Dr., Durham, as an agent upon whom process may upon whom process against it may may be served. SSNY shall mail 5/7/10. NY Sec. of State designated CT 06422. Principal office: 78 Dinatale be served and shall mail a copy of any be served. SSNY shall mail process process to c/o Corporation Service agent of LLC upon whom process Dr., Durham, CT 06422. Arts. of Org. process against to the principal busi- to the LLC, c/o Judith Linhares, 15 Co., 80 State St., Albany, NY 12207. against it may be served and shall filed with The Sec of State of CT, ness address:425 5th Ave, #59B NY, Laight St., #18, New York, NY 10013. Purpose: Any lawful activity. mail process to: c/o Corporation 30 Trinity St, Hartford, CT 06106. NY 10016. Purpose: any lawful acts. Purpose: any lawful act or activity. Service Co., 80 State St., Albany, NY Purpose: General. NOTICE OF FORMATION of FIELDSTONE 12207. DE addr. of LLC: 2711 Notice of Qualification of InspectMyRide Notice of Formation of Orcan LLC. WORLD LLC. Article of Organization Centerville Rd., Ste. 400, Wilmington, Notice of Qual. of Visium Catalyst LLC. Authority filed with NY Dept. of Articles of Org. filed with Secy. of State filed with the Secretary of State of NY DE 19808. Cert. of Form. filed with DE Credit IM, LLC, Auth. filed Sec’y of State on 4/28/11. Office location: NY of NY (SSNY) on 04/21/11. Office (SSNY) on 01/26/11. Office location: NY Sec. of State, 401 Federal St., Dover, State (SSNY) 4/4/11. Office loc.: NY County. LLC formed in DE on loc.: New York Co. SSNY designated County. SSNY has been designated DE 19901. Purpose: any lawful activity. County. LLC org. in DE 3/23/11. SSNY 7/28/10. NY Sec. of State designated as agent of LLC upon whom process as agent upon whom process against desig. as agent of LLC upon whom agent of LLC upon whom process against it may be served. SSNY shall it may be served. SSNY shall mail a NOTICE OF FORMATION OF Jojotalk process against it may be served. against it may be served and shall LLC. Arts of Org filed with the Secy mail process to the LLC, 149 W. 36th copy of any process against the LLC SSNY shall mail copy of proc. to Att: mail process to: c/o CT Corporation Street, 6th Fl., New York, NY 10005. served to: The LLC, 200-210 East of State of NY (SSNY) on 04/05/11. System, 111 8th Ave., NY, NY 10011, Office location: NY County. SSNY Mark Gottlieb, 950 Third Ave., 29th Purpose: any lawful act or activity. 65th St., Suite 9M, NY, NY 10065. Fl., NY, NY 10022. DE off. addr.: CSC, regd. agent upon whom process may Purpose of LLC: to engage in any has been designated as agent upon be served. DE addr. of LLC: 1209 NOTICE OF FORMATION OF whom process may be served and 2711 Centerville Rd., Wilmington, DE lawful act or activity. 19808. Cert. of Form. on file: SSDE, Orange St., Wilmington, DE 19801. Rubenstein Casting and Production, shall mail a copy of any process to Cert. of Form. filed with DE Sec. of LLC. Arts of Org filed with the Secy GG CLINICAL RESEARCH CONSUL- the principal business address: Townsend Bldg., Dover, DE 19901. Purp.: any lawful activities. State, 401 Federal St., Dover, DE of State of NY (SSNY) on 4/25/11. TANTS, LLC, a domestic Limited 1173A 2nd Avenue #134, NY, NY 19901. Purpose: any lawful activity. Office loc: NY Cty. SSNY designated Liability Company (LLC), filed with the 10065. Purpose: any lawful acts. Notice of Formation of DON ANTONIO as agent upon whom process may Notice of Formation of MOBILE Sec of State of NY on 5/10/11. NY Notice is hereby given that a license RESTAURANT, LLC. Arts. of Org. filed be served and shall mail a copy of TRANSIT SOLUTIONS LLC. Arts. of Office location: New York County. (#TBA) for Liquor has been applied with Secy. of State of NY (SSNY) on any process to the principal business Org. filed with Secy. of State of NY SSNY is designated as agent upon for by GRIFFON 1356 LLC at retail, 05/19/11. Office location: NY County. address: 210 E 68th St., NY, NY (SSNY) on 04/29/11. Office location: whom process against the LLC may in a Restaurant, under the ABC Law, Princ. office of LLC: 28 Iris Circle, Glen 10065. Purpose: any lawful acts. NY County. Princ. office of LLC: 322 be served. SSNY shall mail a copy at 1356-1358 FIRST AVE. NY, NY Rock, NJ 07452. SSNY designated Central Park West, NY, NY 10025. of any process against the LLC 10021 for on-premises consumption. as agent of LLC upon whom process Global Language School LLC. served upon him/her to The LLC, against it may be served. SSNY shall SSNY designated as agent of LLC Articles of Org. filed NY Sec. of State 455 Main St., Apt. 4P, NY, NY 10044. Notice of Formation of GALLUS mail process to Corporation Service upon whom process against it may (SSNY) 1/18/2011. Office in New York General Purposes. PROPERTIES, LLC. Arts. of Org. filed Co., 80 State St., Albany, NY 12207- be served. SSNY shall mail process County. SSNY design. Agent of LLC with Secy. of State of NY (SSNY) on 2543. Purpose: Operate a restaurant. to c/o Alex Bell at the princ. office of upon whom process may be served. Notice of Qualification of VNO-MHP 05/09/11. Office location: NY County. NOTICE OF FORMATION of CAGE LLC. the LLC. Purpose: Any lawful activity. SSNY shall mail copy of process to JV LLC. Authority filed with NY Dept. SSNY designated as agent of LLC 302 W79th St., Suite 4A, NYC, N.Y. of State on 2/7/11. Office location: NY Arts of Org filed with the Secy of A&A 2011, LLC. Arts. of Org. filed upon whom process against it may 10024. Purpose: Any lawful activity. County. Princ. bus. addr.: 210 Route be served. SSNY shall mail process State of NY (SSNY) on 2/16/10. Office with Secy. of State of NY (SSNY) on 4 East, Paramus, NJ 07652. LLC to Corporation Service Co., 80 State location: NY County. SSNY designated 1/6/11. Office in NY County. SSNY Notice of Formation of SoCreo formed in DE on 1/20/11. NY Sec. of St., Albany, NY 12207-2543. as an agent upon whom process may designated agent of LLC upon whom Fashion House, LLC. Arts. of Org. State designated agent of LLC upon Purpose: Any lawful activity. be served AND shall mail a copy of any process against it may be served. filed with NY Dept. of State on whom process against it may be process to: Jose Martinez, 325 E 41st SSNY shall mail process to c/o Name: 1180 AOA PROPERTIES LLC 5/31/11. Office location: NY County. served and shall mail process to: c/o St. Suite 305 NY NY 10017. Principal Reinhardt LLP, 44 Wall St 10th Fl, NY, Art. Of Org. Filed Sec. Of State of NY Sec. of State designated agent of CT Corporation System, 111 8th Ave., business address: 83 A Hester St. NY 10005. Purpose: General. LLC upon whom process against it NY, NY 10011, regd. agent upon whom 03/15/2011. Off. Loc.: New York Co. NY NY. Purpose: any lawful acts. SSNY designated as agent upon whom Rogers Realty Group LLC. Arts. of may be served and shall mail process may be served. DE addr. of Notice of Formation of Skin Holdings, process against it may be served. Org. filed with Secy. of State of NY process to the principal business LLC: 1209 Orange St., Wilmington, DE LLC. Arts. of Org. filed with NY Dept. SSNY to mail copy of process to (SSNY) on 4/12/11. Office in NY address: 183 Hester St., #4R, NY, NY 19801. Arts. of Org. filed with DE Sec. of State on 4/27/11. Office location: THE LLC, 747 Third Avenue, 22nd County. SSNY designated agent of 10013. Purpose: all lawful purposes. of State, 401 Federal St., Dover, DE NY County. Sec. of State designated Fl., New York, NY 10017. Purpose: LLC upon whom process against it NOTICE OF FORMATION OF THIRD 19901. Purpose: all lawful purposes. agent of LLC upon whom process Any lawful act or activity. may be served. SSNY shall mail CROWN LLC. filed with the against it may be served and shall Notice of Qual. of TIG Falconer process to 443 E 78th St, Bsmt, NY, Secretary of State of NY (SSNY) on Notice of Qualification of Fillmore East mail process to: Klestadt & Winters, Partners, L.P., Auth. filed Sec’y of NY 10075. Purpose: General. 3/14/11. Office loc: NEW YORK Cty. BS Finance Subsidiary, LLC. Authority LLP, 570 7th Ave., 17th Fl., NY, NY State (SSNY) 12/10/10. Office loc.: SSNY designated as agent upon filed with NY Dept. of State on 4/8/11. 10018, Attn: Ian R. Winters, regd. Notice of Qualification of Black NY County. LP org. in DE 12/9/10. whom process may be served. Mail a Office location: NY County. LLC formed agent upon whom process may be Capital Group LLC. App. for Auth. SSNY desig. as agent of LP upon copy of any process to: 18 Saint in DE on 1/19/06. NY Sec. of State served. Purpose: any lawful activity. filed with Secy. of State of NY (SSNY) whom process against it may be Nicholas Pl, 4C, NY, NY 10031. served. SSNY shall mail copy of designated agent of LLC upon whom on 5/27/10. Office location: NY process against it may be served and Notice of Formation of TOMITA Purpose: any lawful acts. proc. to Att: Michael Tiedemann, County. LLC formed in Delaware (DE) shall mail process to the principal TECHNOLOGIES USA, LLC. Arts. of 520 Madison Ave., 26th Fl., NY, NY on 5/24/10. SSNY designated as Notice of Formation of Choctaw LLC. business addr.: c/o Windels Marx Lane Org. filed with Secy. of State of NY 10022. DE off. addr.: CSC, 2711 agent of LLC upon whom process Articles of Organization filed with Secy. & Mittendorf LLP, 156 W. 56th St., 23rd (SSNY) on 4/22/01. Office location: Centerville Rd., Wilmington, DE against it may be served. SSNY shall of State of NY (SSNY) on 03/15/11. Fl., NY, NY 10019, Attn: Tina Gagliano. NY County. SSNY designated as 19808. Cert. of LP on file: SSDE, mail process to: c/o Gary Black, 630 Office location: New York Co. SSNY DE addr. of LLC: c/o Corporation agent of LLC upon whom process Townsend Bldg., Dover, DE 19901. Fifth Ave., NY, NY 10111. DE address designated as agent of LLC upon Service Co., 2711 Centerville Rd., against it may be served. SSNY shall Name/addr. of each gen. ptr. avail. of LLC: c/o United Corporate Services, whom process against it may be Ste. 400, Wilmington, DE 19808. mail process to: c/o Clifford David, at SSNY. Purp.: any lawful activities. Inc., 874 Walker Road, Ste. C, Dover, served. SSNY shall mail process to Cert. of Form. filed with DE Sec. of 50 E. 77th St., Apt. 8A, NY, NY DE 19904. Arts. of Org. filed with DE the LLC, 900 Greensward Lane, Apt. Notice of Qualification of HealthCor State, 401 Federal St., Dover, DE 10075. Purpose: any lawful activity. 19901. Purpose: any lawful activity. Secy. of State, Townsend Bldg., Dover, G207, Delray Beach, FL 33445. Long Master GP, LLC. Authority filed DE 19901. Purpose: any lawful activity. with Secy. of State of NY (SSNY) on Notice of Qualification of Fillmore East Notice of Qualification of Pegasus Purpose: any lawful act or activity. Investors V (GP), L.L.C. Authority 04/05/11. Office location: NY County. MS Finance Subsidiary, LLC. Authority Notice of Qualification of Camuto Notice of Formation of Tolland Realty LLC formed in Delaware (DE) on filed with NY Dept. of State on 3/30/11. filed with NY Dept. of State on 5/6/11. Office location: NY County. Princ. Group LLC. Authority filed with NY Company Limited Partnership filed 03/17/11. Princ. office of LLC: Office location: NY County. LLC Dept. of State on 5/17/11. Office with the NY Dept. of State on Carnegie Hall Tower, 152 W. 57th formed in DE on 2/24/06. NY Sec. of bus. addr.: 99 River Rd., Cos Cob, CT 06807. LLC formed in DE on location: NY County. LLC formed in 4/1/2011. Office Location: NY St., 43rd Fl., NY, NY 10019. SSNY State designated agent of LLC upon DE on 1/11/10. NY Sec. of State County. NY Sec of State (“SSNY”) whom process against it may be served 4/6/11. NY Sec. of State designated designated as agent of LLC upon designated agent of LLC upon whom designated as agent of LP upon whom process against it may be and shall mail process to the principal agent of LLC upon whom process served. SSNY shall mail process to business addr.: c/o Windels Marx Lane against it may be served and shall process against it may be served and whom process against it may be the LLC at the princ. office of the LLC. & Mittendorf LLP, 156 W. 56th St., 23rd mail process to: c/o CT Corporation shall mail process to the principal served and SSNY shall mail process DE addr. of LLC: 2711 Centerville Fl., NY, NY 10019, Attn: Tina Gagliano. System, 111 8th Ave., NY, NY 10011, business addr.: 411 W. Putnam Ave., to: c/o Stephen H. Penn, 114 W. Rd., Ste. 400, Wilmington, DE 19808. DE addr. of LLC: c/o Corporation regd. agent upon whom process may Ste. 210, Greenwich, CT 06830. DE 47th St., 19th Fl., NY, NY 10036. Cert. of Form. filed with DE Secy. of Service Co., 2711 Centerville Rd., be served. DE addr. of LLC: 1209 addr. of LLC: The Corporation Trust Co., Name/Addr. of genl.ptr. is available State, Div. of Corps., John G. Ste. 400, Wilmington, DE 19808. Orange St., Wilmington, DE 19801. 1209 Orange St., Wilmington, DE from SSNY. Latest date LP to Townsend Bldg., 401 Federal St., Cert. of Form. filed with DE Sec. of Cert. of Form. filed with DE Sec. of 19801. Cert. of Form. filed with DE Sec. dissolve is 12/29/2029. Purpose: Ste. 4, Dover, DE 19901. Purpose: State, 401 Federal St., Dover, DE State, 401 Federal St., Dover, DE of State, 401 Federal St., Dover, DE acquire and dispose of investment Any lawful activity. 19901. Purpose: any lawful activity. 19901. Purpose: all lawful purposes. 19901. Purpose: any lawful activity. property situate in Tolland, MA.

June 20, 2011 | Crain’s New York Business | 21 20110620-NEWS--0022-NAT-CCI-CN_-- 6/17/2011 8:15 PM Page 1

ment to grab new attention. After the recession was a mere hiccup? Daniel Boulud’s Daniel was reno- Revenues were down just 8% in Zen master chef is satisfied vated in 2008, it received a fresh 2009—its only off year—and Mr. round of reviews,which created new Ripert said he did not lay off a sin- Continued from Page 1 in the quarter-century life of Le Bernardin] more fun.” A star him- buzz around the restaurant, then 15 gle worker. The restaurant’s re- to have a good mix.” Bernardin (20 of those years with self,Mr.Bourdain is the former chef years old. silience is all the more remarkable The celebrity act ends in the stu- Mr. Ripert at the helm). Last of Brasserie Les Halles and host of Reopening on time is critical,ac- given its tabs. The lowest prix-fixe dio, however. Unlike other culinary month, he and co-owner Maguy Le the Travel Channel’s Anthony Bour- cording to Georgette Farkas, Mr. dinner is currently $115 a person. stars such as Tom Colicchio, Bobby Coze—who opened Le Bernardin dain: No Reservations. Boulud’s spokeswoman. In many ways, Mr. Ripert is cast Flay and Todd English, Mr. Ripert, with her brother,Gilbert Le Coze— With its generously spaced ta- in the mold of old-school restaura- 46,is not an empire builder.Though signed a new 15-year lease for the bles covered in heavy white cloths, Four stars four times teurs, who believed that being the he is a consulting chef for three space at West 51st Street. When long, sheer curtains and seascape oil “Every [extra] day you are closed proprietor of one successful place restaurants operated by Ritz-Carl- Mr. Le Coze, the original chef, died paintings, Le Bernardin is more people start to be concerned,” Ms. was enough. He and Ms. Le Coze, ton Hotels,Le Bernardin is the only suddenly in 1994, Mr. Ripert suc- aptly described now as “elegant”and Farkas said. She recalled that the who oversees the financial side of restaurant that Mr. Ripert owns. It ceeded him. “formal.” A portrait of the Le night Daniel shuttered for renova- the business, are rarely away from is one of just six four-star restaurants Cozes’grandfather that hangs above tions, movers began taking out the the restaurant at the same time. in New York, and he insists that he Extensive renovation the bar has been deemed untouch- furniture as soon as the last diner “I think one of his great skills is will never duplicate it. The partners are closing for the able in the renovation. “The grand- left. that he inspires loyalty in his staff,” “I’ve had many offers to open Le month of August for an “extensive” pa is not moving,” Mr. Ripert said. In addition to other countless said restaurateur Drew Nieporent. Bernardin somewhere else,” said renovation,as Mr.Ripert puts it.He Mr. Bourdain said that while accolades and honors for Le Ber- Indeed, chef de cuisine Chris Mr. Ripert, a practicing Buddhist. declined to provide details, saying: most of his celebrity peers “would nardin and its chef, the restaurant Muller has been at Le Bernardin for “At the end of the day, what matters “I want to keep the surprise a little want to make their restaurants big- has received the highest rating of 18 years, as have several other key is to be satisfied, and I am very sat- bit for when we reopen.” ger and more profitable, Eric is four stars in each of its four reviews employees. isfied with what I am and what I The revamp is “the boldest move spending a lot of money to make his by The New York Times. It is likely Mr. Ripert said he envisions have.” he’s ever made,” said Anthony better.” to be revisited by the paper’s critic himself at the restaurant 15 years That doesn’t mean that he is con- Bourdain, a longtime friend of Mr. Though redesigning a world- in the fall. from now. tent with the status quo, though. Ripert’s. “It’s very daring, what he’s class restaurant is risky, it is also an So what is behind the staying “I’d love to still be here,” he said. This year marks several milestones doing. He wants to make [Le opportunity for an older establish- power of Le Bernardin, for which “Doing the exact same thing.” Ⅲ

losses would be in Europe. And last slide showing that he achieved $349 clients defected. A Deutsche Börse month,the labor council sent a letter million in cost cuts from the NYSE- spokeswoman declined to comment NY Börse, of course urging Deutsche Börse investors to Euronext integration—$75 million on the situation. reject the deal because key corporate more than forecast—and saved $40 Mr. Niederauer has to win over Continued from Page 1 come out on top has led some in decisions would be made in New million more than projected from one more constituency apart from speak for twice as long as his Euro- Germany to accuse the NYSE of York,home to 1,300 NYSE employ- the American Stock Exchange ac- investors and regulators: politicians. pean counterpart. He delved into orchestrating a backdoor coup. ees, and diminish Germany’s stand- quisition in 2008. Sen. Charles Schumer has de- the minutiae of how the merger will Nonetheless, many investors, even ing as a financial center. manded that the combined compa- work, such as deciding, “module by those outside the U.S., believe Mr. “This is a classic Anglo-Saxon Rivalry in the making ny’s name begin with the words module,” which of the two ex- Niederauer has to stay in charge. reverse takeover of a healthy compa- Left unsaid is the fact that his “New York.”When the subject came change’s massive computer systems “Duncan’s the guy,”said Thomas ny,” the council wrote. record of integrating mergers con- up earlier this month just as Messrs. would be used to execute trades in Caldwell, chairman of Toronto- For now, Mr. Niederauer is focus- trasts sharply with that of his chief ri- Francioni and Niederauer were 50-millionths of a second, or one based Caldwell Securities, which ing on selling the deal and quashing val,Deutsche Börse’s Andreas Preuss, wrapping up their presentation to seven-thousandth of the time it takes holds shares in parent NYSE Euro- any doubts that he should serve as 54, who is to be deputy CEO. Mr. investors, Mr. Niederauer said no to blink. He talked about how he’s next and Deutsche Börse. “He has CEO. In frequent meetings with in- Preuss,who will oversee derivatives,is decision will be made until the fall, addressing concerns from dozens of the credibility and the game plan.” vestors,he talks frankly about how ex- a key player in the deal because he and grumbled: “This is the closest regulatory bodies. And he handled a change-industry executives have heads Eurex, a futures and options we’ve come to getting through a question on the explosive topic of the Many kilometers to go struggled to generate all the addition- marketplace second only to the colos- meeting without someone asking us new company’s name. The politically sensitive merger al revenues promised in past mergers. sal Chicago Mercantile Exchange. about the damn name.” “We are prepared to make the still has miles (or kilometers) to go. At a presentation earlier this Derivatives trading is considerably Mr. Caldwell, the Toronto in- tough decisions,” Mr. Niederauer NYSE and Deutsche Börse share- month,Mr.Niederauer quipped that more profitable than the NYSE’s core vestor who owns stakes in NYSE, insisted. holders are scheduled to approve the he was “not sure” that the NYSE- equities business and would generate Deutsche Börse and exchanges One of those decisions is already deal next month. Then, no fewer Euronext merger “will go down in nearly half of the combined compa- around the world, said there’s a sim- clear: Mr. Niederauer is going to than 47 government agencies in the history as a model of excellence at ny’s operating income. ple solution: Keep the NYSE name, lead the show from his office at 11 U.S.and Europe will need to sign off. the beginning.” He was appointed But Mr. Preuss has one big black even if the parent company is called Wall St., even though Frankfurt- Some of Deutsche Börse’s 3,500 CEO in late 2007 to tackle that mark on his résumé:Eurex’s decision something else. based Deutsche Börse will control a employees are getting nervous. Last merger, and at a different investor in 2007 to pay a top-of-the-market “You don’t have to be a member majority of board seats and con- week, a representative from their la- conference last month,he included a $3 billion for the International Secu- of Mensa to know it’s the best brand tribute the lion’s share of revenue. bor council snapped at NYSE’s chief rities Exchange,a Manhattan-based for an exchange in the world,” he The fact that Mr.Niederauer—who operating officer forIS tellingN Con- L TE to a discussion at options market. Revenues from ISE said. “If they don’t want the name doesn’t speak German—is set to gress that most merger-related job CrainsNewYork.com/podcasts have declined by 36% since then, as anymore, I’ll buy it.” Ⅲ

PUBLIC & LEGAL NOTICES Notice of Qual. of Concept Capital Notice of Qual. of Half Moon GP, LLC, Notice of Qual. of Half Moon Capital Notice of Formation of RAA MEDIA, Notice of Qualification of CTAM IPM Markets, LLC, Auth. filed Sec’y of Auth. filed Sec’y of State (SSNY) Partners, LP, Auth. filed Sec’y of LLC. Arts. of Org. filed with Secy. of LLC. Authority filed with NY Dept. of State (SSNY) 4/12/11. Office loc.: NY 3/4/11. Office loc.: NY County. LLC State (SSNY) 3/4/11. Office loc.: NY State of NY (SSNY) on 05/02/11. State on 5/9/11. Office location: NY County. LLC org. in DE 6/30/09. org. in DE 3/1/11. SSNY desig. as County. LP org. in DE 3/1/11. SSNY Office location: NY County. Princ. County. LLC formed in DE on 5/5/11. SSNY desig. as agent of LLC upon agent of LLC upon whom process desig. as agent of LP upon whom office of LLC: 88 Pine St., NY, NY NY Sec. of State designated as whom process against it may be against it may be served. SSNY process against it may be served. 10005. SSNY designated as agent agent of LLC upon whom process served. SSNY shall mail copy of shall mail copy of proc. to Att: Eric SSNY shall mail copy of proc. to of LLC upon whom process against against it may be served and shall Att: Eric DeLamarter, 168 First Ave., proc. to 527 Madison Ave., 6th Fl., DeLamarter, 168 First Ave., NY, NY it may be served. SSNY shall mail mail process to the principal business 10009. DE off. addr.: CSC, 2711 NY, NY 10009. DE off. addr.: CSC, address: 599 Lexington Ave., NY, NY NY, NY 10022. DE off. addr.: CSC, 2711 Centerville Rd., Wilmington, process to c/o Ralph Appelbaum 10022. DE address of LLC: c/o The 2711 Centerville Rd., Wilmington, DE Centerville Rd., Wilmington, DE DE 19808. Cert. of LP on file: SSDE, Associates, Inc., Attn: Sharaf M. Corporation Trust Co., 1209 Orange 19808. Cert. of Form. on file: SSDE, 19808. Cert. of Form. on file: SSDE, Townsend Bldg., Dover, DE 19901. Hassan at the princ. office of the LLC. St., Wilmington, DE 19801. Cert. of Townsend Bldg., Dover, DE 19901. Townsend Bldg., Dover, DE 19901. Name/addr. of each gen. ptr. avail. Purpose: Media production services Form. filed with DE Sec. of State, Purp.: any lawful activities. Purp.: any lawful activities. at SSNY. Purp.: any lawful activities. and other related services. P.O. Box 898, Dover, DE 19903. Purpose: all lawful purposes. NOTICE OF FORMATION OF GREG LYDIA PROPERTIES, LLC a domestic NOTICE OF REGISTRATION of Notice of Formation of 273-277 MITCHELS LLC. Articles of Limited Liability Company (LLC), filed Newman & Morrison LLP. Kosciuszko, L.P. Certificate filed with Notice of Formation of Mindsmack.tv Organization filed with the Secretary with the Sec of State of NY on Certificate filed with Secy. of State of Secy. of State of N.Y. (SSNY) on LLC. Arts. of Org. filed with Secy. of of State of NY (SSNY) on 2/9/11. 3/29/11. NY Office location: New NY (SSNY) on 4/5/11. Office location: 11/22/10. Office location: NY County. State of NY (SSNY) on 03/04/08. Office location: NEW YORK County. York County. SSNY is designated as NY County. SSNY designated as SSNY designated as agent of LP Office loc.: NY Co. SSNY designated SSNY has been designated as agent agent upon whom process against agent of LLP upon whom process upon whom process against it may be as agent of LLC upon whom process upon whom process against it may the LLC may be served. SSNY shall against it may be served. SSNY shall served. SSNY shall mail process to: against it may be served. SSNY shall be served. SSNY shall mail process mail a copy of any process against mail process to the principal business 37 W. 20th St., Ste. 603, NY, NY 10011. mail process to the LLC, c/o Lazer, to: 225 W 23rd ST, APT 2R, NEW the LLC served upon him/her to The address: 44 Wall Street, 20th Floor, Name/address of each genl. ptr. avail- Aptheker, et al., 225 Old Country Rd, YORK, NY 10011. Purpose: any LLC, 390 West End Ave., Unit 6G, New York, NY 10005. Purpose: able from SSNY. Term: until 12/31/2060. Melville, NY 11747, Attn: Scott Feuer. lawful act or activity. NY, NY 10024. General Purposes. Practice the Profession of Law. Purpose: any lawful activity. Purpose: any lawful act or activity.

22 | Crain’s New York Business | June 20, 2011 20110620-NEWS--0023-NAT-CCI-CN_-- 6/17/2011 12:46 PM Page 1

FOR THE RECORD

and other school-based supervisors in RETAIL $2,873,064. He now indirectly holds observing and evaluating pedagogues. Designer Stella McCartney has signed a 9,692,890 shares. ABOUT THIS SECTION To obtain the RFP,contact the 10-year lease for 5,200 square feet at Vendor Hotline at (718) 935-2300 112 Greene St., which is owned by 112 ● Tiffany & Co. (TIF) FOR THE RECORD is a weekly listing of information from the public record that or [email protected]. Greene Street Partners. Joel Isaacs of Michael J. Kowalski, chairman and chief can help businesspeople in the New York area find opportunities, potential For all other inquiries, contact Isaacs & Co. represented the tenant, executive, sold 69,347 shares of common new clients and updates on competitors. [email protected]. while Andrew Kahn and Jonathan stock at $73.04 on June 9, in a To ask questions or get more information on this section, contact Suzanne Scibilia represented the landlord. transaction worth $5,065,376. He now Panara at [email protected]. ● Economic Development Corp. directly holds 344,045 shares. Requests proposals by 4 p.m. on Aug. 15 for the lease of an approximately STOCK TRANSACTIONS James N. Fernandez, executive vice 20,400-square-foot space in Unit 4E of president and chief financial officer, sold Building B of the Brooklyn Army Following are recent insider transactions 43,000 shares of common stock at BANKRUPTCIES GOVERNMENT CONTRACT Terminal in Sunset Park. There will be at New York’s largest publicly held $74.09 on June 7, in a transaction worth OPPORTUNITIES an information session and tour at the companies filed with the Securities and $3,185,952. He now directly holds The following listings are selected from the site on July 12; RSVP by July 6 to Exchange Commission by executives 44,434 shares. most recent available filings by companies Following are selected contract [email protected]. To make inquiries and major shareholders. Listings are in seeking bankruptcy protection in the opportunities recently announced by regarding this RFP,contact Maryann order of transaction value.The ● Overseas Shipholding Group Inc. (OSG) Southern and Eastern districts of New New York City agencies.To learn how to Catalano at (212) 312-3969 or information was obtained from Thomson Oudi Recanati, director, purchased York. Information was obtained from U.S. sell goods and services to city government, [email protected]. Reuters. 138,124 shares of common stock at Bankruptcy Court records available on visit www.nyc.gov/selltonyc. For a prices ranging from $25.00 to $25.93 Public Access to Court Electronic Records. searchable database of current procurement ● Human Resources Administration ● Weight Watchers International Inc. between June 6 and June 9, in a Listings are in alphabetical order. notices, visit www.nyc.gov/cityrecord. Requests proposals by 2 p.m. on July 21 (WTW) transaction worth $3,501,175. He now Listings are alphabetical by category and for contractors to conduct research on Westend SA sold 3,000,000 shares of directly holds 877,734 shares. ● Day Star Contracting Co. department. and evaluations of antipoverty programs common stock at $83.66 on May 26, 920 Conklin St., Farmingdale, L.I. and other poverty issues. A preproposal in a transaction worth $250,980,000. Charles A. Fribourg, director, purchased Filed for Chapter 11 bankruptcy CONSTRUCTION SERVICES conference will be held on June 29 at It now indirectly holds 38,247,900 65,195 shares of common stock at prices protection on June 6. The filing cites ● Department of Environmental Protection 180 Water St. in Manhattan. To make shares. ranging from $24.74 to $25.99 between estimated liabilities of $1,000,001 to Seeks competitive sealed bids by inquiries, contact Adrienne Williams June 1 and June 3, in a transaction worth $10 million and estimated assets of 11:30 a.m. on July 7 for the service and at (212) 331-3453 or ● Take-Two Interactive Software Inc. $1,627,011. He now directly holds $100,001 to $500,000. Among the repair of fiberglass-reinforced plastic [email protected]. (TTWO) 656,870 shares. creditors with the largest unsecured tanks at various water pollution control Carl C. Icahn sold 5,000,000 shares of claims are Wincore, owed $486,510; plants citywide. There will be a prebid common stock at $16.36 on May 26, in a ● Steven Madden Ltd. (SHOO) MCS Realty, owed $291,000; and conference at 96-05 Horace Harding REAL ESTATE DEALS transaction worth $81,800,000. He now Amelia Newton Varela, executive vice American Express, owed $82,014. Expressway, second-floor conference indirectly holds 7,305,630 shares. president of wholesale, sold 118,124 room #1, Flushing, Queens, on June 28 Companies that would like to have shares of common stock at $24.77 on ● ETC Workshop Inc. at 10 a.m. To make inquiries, contact details of their recent transactions ● Estée Lauder Cos. (EL) May 31, in a transaction worth 303 W. 42nd St., Manhattan Greg Hall at (718) 595-3236 or appear in these listings should e-mail William P.Lauder, executive chairman, $2,926,313. She now directly holds Filed for Chapter 11 bankruptcy [email protected]. descriptions following this format to sold 95,000 shares of common stock 52,500 shares. protection on June 3. The filing cites [email protected], with at prices ranging from $100.42 to estimated liabilities of $1,000,001 to ● Department of Parks and Recreation “Real estate transaction” in the subject $102.53 between May 27 and June 2, in Robert Schmertz, brand director, sold $10 million and estimated assets of Seeks competitive sealed bids by 10:30 line, or enter them online at a transaction worth $9,649,606. He now 42,188 shares of common stock at $100,001 to $500,000. Among the a.m. on July 8 for the reconstruction of crainsnewyork.com/submitadeal. Deals indirectly holds 743,683 shares. $24.77 on May 31, in a transaction creditors with the largest unsecured play equipment, safety surfacing and are listed in order of square footage. worth $1,045,125. He now directly claims are Request TV, owed general site work at various Bronx Jane A. Lauder, director, sold 28,333 holds 248,625 shares. $251,000.50; the Venetia Condominium locations. Bid documents can be COMMERCIAL shares of common stock at prices Association, owed $23,491.28; and Jack purchased in the Blueprint Room, ● The Yankees’YES Network has ranging from $102.28 to $102.69 on ● Ann Inc. (ANN) A. Chartoff, owed $8,000. Olmsted Center, Flushing, Queens, signed a lease for the entire 30th June 1, in a transaction worth Katherine Lawther Krill, chief from 8 a.m. to 3 p.m. To make inquiries, floor, a 23,800-square-foot space, at $2,899,586. She now directly holds executive, president and director, sold ● Kelly 923 Realty contact Juan Alban at (718) 760-6771 or 805 Third Ave., which is owned by 618 shares. 61,250 shares of common stock at prices P.O. Box 482, Roslyn Heights, L.I. [email protected]. Charles S. Cohen. Glenn Isaacson and ranging from $27.00 to $27.20 on June Filed for Chapter 11 bankruptcy Ken Myerson of CB Richard Ellis ● Warner Music Group Corp. (WMG) 2, in a transaction worth $1,657,665. protection on June 7. The filing cites ● Department of Parks and Recreation represented the tenant, while Bruce Edgar M. Bronfman Jr., chairman She now directly holds 387,431 shares. estimated liabilities of $1,000,001 to Seeks competitive sealed bids by Mosler of Cushman & Wakefield, and chief executive, sold 725,359 $10 million and estimated assets of 10:30 a.m. on July 13 for the along with in-house broker David shares of common stock at prices ● Hess Corp. (HES) $1,000,001 to $10 million. The creditors construction of ADA-accessible Nevins, represented the landlord. ranging from $8.22 to $8.23 between Lawrence H. Ornstein, senior vice with the largest unsecured claims are facilities and miscellaneous work at the The asking rent was in the mid- to May 27 and June 2, in a transaction president, sold 18,000 shares of common Consolidated Edison, owed $50,665; Bleecker Playground comfort station in high $50s a square foot. worth $5,967,564. On June 6, he sold stock at $75.41 on June 6, in a and the Department of Housing New Abingdon Park, Manhattan. There 351,742 shares of common stock at transaction worth $1,357,380. He now Preservation and Development of the will be a prebid meeting at the design ● Fieldpoint Private Bank & Trust has $8.17, in a transaction worth directly holds 79,638 shares. Ⅲ City of New York, owed $2,900. conference room, Olmsted Center, signed a lease for a full floor, an 11,000- Flushing, Queens, on June 22 at 12:30 square-foot space, at 400 Park Ave., ● Madison Hotel p.m. Bid documents can be purchased in which is owned by Waterman Interests. 440 W. 41st St., Manhattan the Olmsted Center’s Blueprint Room The tenant was represented by Timothy DEALS ROUNDUP Filed for Chapter 11 bankruptcy from 8 a.m. to 3 p.m. To make inquiries, Gibson and William Levitsky of protection on May 27. The filing cites contact Juan Alban at (718) 760-6771 or Cushman & Wakefield, and the TRANSACTION SIZE estimated liabilities of $10,000,001 to [email protected]. landlord by John G. Nugent and David SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE $50 million and estimated assets of Mauer-Hollaender of CB Richard Ellis. $10,000,001 to $50 million. Among the ● Department of Transportation Asking rents at the building range from The Blackstone Group $1,025.0 NBC Universal Media SB M&A private equity group (Manhattan)/ (Manhattan) (50%) creditors with the largest unsecured Seeks competitive sealed bids by 11 a.m. the high $60s to $85 a square foot. Universal Orlando Resort claims are Chaim Cohen, owed on June 28 for pavement gravel, ● The Goldman Sachs Group $601.1 Ocwen Loan Servicing SB M&A $750,000; Goldberg & Rimberg, owed pavement paint and thermoplastic Karmaloop TV has signed a three- Inc. (Manhattan)/ $135,000; and Shlomo Segev, owed markings in the five boroughs. Bid year sublease for 10,000 square feet at Litton Loan Servicing and certain $80,000. documents can be purchased from 122 W. 27th St., which is owned by interest-only servicing strips 9 a.m. to 3 p.m. at 55 Water St., ground Northern Star Textile Corp. Bill ● Goldman Sachs Group $365.4 Signa Holding GmbH, Centrum SB M&A Mejia Traders Inc. floor. To make inquiries, contact Jerry Mendelson of Newmark Knight Frank merchant banking division Grundstücksgesellschaft mbH 3846 Broadway, Manhattan Ashimi at (718) 433-3227 or the bid represented the tenant, while Perry (Manhattan), Whitehall Fund, Filed for Chapter 11 bankruptcy window at (212) 839-9435. Mesmer of Colliers International Prelios SpA, RREEF America, protection on May 31. The filing cites represented the landlord. Asking rents Borletti Group S.C.A., estimated liabilities of $50,001 to GOODS AND SERVICES were in the mid-$30s a square foot. Generali Real Estate Fund/ $100,000 and estimated assets of ● Administration for Children’s Services Karstadt Oberpollinger and Karstadt Sport Retail Buildings $50,001 to $100,000. The creditor with Requests proposals by 2 p.m. on Aug. 11 ● HELP/PSI has signed a 10-year lease an unsecured claim is Fives 160th, owed to provide early-care and education for 8,800 square feet at 373 Park Ave. The Related Companies $315.0 IFA Hotels & Resorts Co., Kuwait Real SB M&A $60,000. services within all five boroughs. The South, which is owned by ATCO (Manhattan)/ Estate Co., United Investments (Portugal) - YOTEL New York Empreendimentos Turisticos S.A. RFP must be obtained directly from the Properties & Management. Jean Bates ● Ridge Transport Systems Inc. ACS or its website, www.nyc.gov/acs. of A.C. Lawrence & Co. represented the Barington Capital Group $296.1 Vector Capital FB M&A (Manhattan)/ 2743 Stillwell Ave., Brooklyn There will be daily preproposal tenant, while John Cinosky represented Gerber Scientific Inc. Filed for Chapter 11 bankruptcy meetings from June 14 to June 17. the landlord in-house. The asking rent protection on June 2. The filing cites For the times and locations of the was $36 per square foot. Family Dollar Stores Inc. $262.9 Pershing Square Capital Management FB M&A (Manhattan) (4.18%) estimated liabilities of $100,001 to meetings, and for all other inquiries, $500,000 and estimated assets of $0 to contact Jean Sheil at (212) 341-3522 or ● Village Vines has signed a five-year MetLife Inc. (Manhattan)/ $255.0 ING Clarion Partners SB M&A $50,000. Among the creditors with the [email protected]. lease for 2,500 square feet at 37 W. 17th Wells Fargo Plaza in Houston (Manhattan) (50%) largest unsecured claims are Auto One St. Elliot Warren of The Kaufman Selected deals announced for the week ended June 12 involving companies in metro New York. Insurance, owed $207,954.43; Key ● Department of Education Organization represented the tenant, FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing shares of a company with the participation of a financial buyer. SB M&A: Strategic buyer Equipment Finance, owed $51,981.89; Requests proposals by 1 p.m. on June 23 while Jake Mansher of The Moinian M&A represents a minority or majority acquisition of existing shares of a company without the and the New York City Parking for labor support consultants and a team Group represented the landlord. The participation of a financial buyer. source: capitaliq Violations Bureau, owed $12,003.55. leader to provide support to principals asking rent was $32 per square foot.

June 20, 2011 | Crain’s New York Business | 23 20110620-NEWS--0024-NAT-CCI-CN_-- 6/17/2011 8:36 PM Page 1

less appealing for emerging bou- the outpost in February, and now den and a bunch of bars.” tiques. In the past 18 months, asking operates locations only in SoHo, Some stores leaving the Lower Stores leave LES prices in the neighborhood have which has enough foot traffic to jus- East Side are flocking to Brooklyn. jumped, increasing 20% following tify higher rents, Williamsburg and Ms. Havlicek, who wholesales her Continued from Page 3 with a private dance club rumored to recession-related drops. Now, asking Greenpoint, Brooklyn. silk dresses and tops and also sold a thrived in the neighborhood,which is only be accessible with a skeleton key, rents on prime streets range from collection at Anthropologie, isn’t still, first and foremost, nightlife- debuted on Ludlow Street. $100 to $150 a square foot,while sec- Just Steve Madden and bars ruling out a future store, possibly in driven. Though many dive bars still “The neighborhood is definitely ondary areas are closer to $65 a “If I was a landlord,I’d want to fill the West Village or Williamsburg. exist,they are now joined by more and a destination for restaurants and square foot, according to brokers. the block with cool local stores so Already, Williamsburg is home more chic nightclubs, each boasting bars, but it’s more local traffic dur- In God We Trust, a seven-year- the foot traffic is cool—we don’t to local shops like Built by Wendy its own distinct appeal. Late last year, ing the day and not so much an ap- old apparel and housewares label need another NoLIta or SoHo,”said and Sir, as well as newcomer Grand 10,000-square-foot Beauty & Essex, parel destination,”said Mr.Levitan. whose wares are made entirely in Julie Noyce,In God We Trust’s gen- Street Bakery, which sells every- a swanky club that offers free cham- New York, was hit with a 25% rent eral manager.“The Lower East Side thing from denim to swimwear. pagne in its ladies’ bathroom, opened Soaring rents increase—to $150 a square foot— has always been for artists and rock Even mainstream fashion chain up at 146 Essex St., while Hotel The influx of nightlife has only for its 400-square-foot Ludlow ’n’ rollers—if you get rid of that lo- Scoop is looking to expand into the Chantelle, a World War II-type bar driven up rents,making the area even Street shop.The company shuttered cal flavor, then it’s just Steve Mad- neighborhood. Ⅲ

lion in annual sales, Ms. Berrie needed to downsize. She moved the Kate’s Paperie cuts shop to a 2,800-square-foot tempo- Walmart on the hunt rary outpost at 411 Lafayette St.last Continued from Page 3 out of Chapter 11 bankruptcy in month and will relocate for at least a Continued from Page 1 stores’ produce. One Walmart in exclusive products and trying to re- 2009, plans to open its first street- year to a similarly sized space later Walmart would make it more at- each borough would be enough to vitalize Kate’s e-commerce opera- level shop—a 100-square-foot nook this summer. tractive for the market and its 47 hurt small businesses and the mar- tions. at 699 Madison Ave.—this Sep- Kate’s also opened a 180-square- owner-operators to stay in the city ket, he estimated. “Kate’s is in redefining mode,” tember. The 82-year-old Strong foot kiosk in the Time Warner Cen- long-term. The 43-year-old facility Big supermarkets do use Hunts said Patti Stracher,show manager of brand, whose clients have included ter in February, and Ms. Berrie needs $320 million worth of reno- Point to obtain specialty items or to the National Stationery Show, run Tom Cruise and Oprah Winfrey, hopes to launch a small Kate’s or vations. Hunts Point owners had cover for shortages caused by ex- by George Little Management.“It’s concentrates on “bespoke”stationery. kiosk uptown. threatened to move to New Jersey treme weather, Mr. D’Arrigo said. looking inside and asking,‘What do “Our products are still made by She is enlisting exclusive design- but earlier this month inked a three- He said Hunts Point’s prices are we do best, and how do we do it in hand, from the actual engravings to ers to make more of Kate’s product year lease extension with the city. competitive with what the compa- the 21st century?’ ” the hand-lining of the envelopes,” line.The company now sells the work The council speaker, who has nies would spend via their own net- The event, held each May, had said owner Jacqueline Kotts. of Andrea Liss, whose Hannah been a vocal detractor of Walmart, works. That would be crucial in any 11,140 attendees this year—a 2.6% Handmade brand is geared to the has nevertheless engaged in a dia- deal with Walmart, which demands decline from 2009. Ms. Stracher Rents too high wedding market, and Marc Fried- logue with the retailer about its de- bare-bones prices from suppliers. said that the sluggish economy and One of the main reasons for land,whose Marc Friedland Couture sire to open stores in the city. Food digital tools that let shoppers pro- Kate’s retrenchment was the size of Communications designed the Os- policy,a major but often overlooked Open to a deal duce their own stationery items its stores and accompanying high car envelopes this year. Kate’s will part of Ms. Quinn’s agenda—and a “I don’t know if there’s any way have battered the entire industry. rents, according to Ms. Berrie. Two also sell to more specialty shops. growing focus of Walmart’s—is a they can be Walmart and find a way Many of Kate’s competitors have locations, including the shop at Because more shoppers are buy- logical area for compromise. to work with Hunts Point,” Ms. also had to reinvent themselves. Pa- 1282 Third Ave., were more than ing online, Ms. Berrie is developing “Walmart, by its own admission, Quinn said. “If they can’t, that is a pyrus, a division of Schurman Fine 7,500 square feet. She ended costly offerings specifically for her web- isn’t interested in a single supermar- big challenge and a hurdle I’m not Papers in Fairfield, Calif., forged a leases on Third Avenue, West 57th site, which averages about 67,000 ket in New York; they’re interested sure I can get over.” deal two years ago with American Street and West 13th Street, and in unique visitors a month. She’s mov- in growing into a much bigger part Walmart officials doubt their Greetings Corp., the mass-market Greenwich, Conn. ing the custom-printing business of the market,” Ms. Quinn told stores would harm Hunts Point but card seller. Papyrus now operates “It was a bloodbath until I got out online to improve efficiencies. Crain’s. “If one store becomes eight say they’re amenable to a deal.They American Greetings’ stores, and the of our leases,” Ms. Berrie said.“Col- “I don’t want to be an endangered stores becomes whatever number, told Ms. Quinn they would be will- larger company owns Papyrus’ lectively, our sales were not up species,” Ms. Berrie said. “Kate’s then you have the risk of having a ing to source 5% or more of their lo- wholesale operations. enough to overcome them.” needs to survive!” Ⅲ significant portion of the [city’s] cal stores’produce from Hunts Point. Meanwhile, upscale stationer Though her SoHo store,former- food not going through Hunts “We continue to engage with Mrs. John L. Strong, which private ly on Spring Street,was the best per- LISTEN to a discussion at Point. That could destabilize the elected officials here—including the equity firm JP Kotts & Co. bought former and generated about $4 mil- CrainsNewYork.com/podcasts market in a way that could have speaker—to discuss ways to leverage enormous job impacts and enor- the resources of the company in ways mous food system impacts.” that will stimulate economic devel- the borough has shriveled to Matthew D’Arrigo, who runs opment and boost access to fresh,af- $164,400, from $570,000 five years one of the largest businesses in the fordable food across the city,”a Wal- NYC’s industrial push ago, sources said. market and is its co-president, said mart spokesman said. The city Department of Small that Walmart would “harm our cus- An agreement with Walmart Continued from Page 2 that such moves come as funding is Business Services, which oversees tomer base and at the same time about Hunts Point could help Ms. and indirect jobs over the next 10 being slashed for local development the IBZs and their respective won’t buy any noteworthy volume of Quinn, a probable mayoral candi- years. and community groups working providers, said contracts are being produce out of the market.” date in 2013. Polls show that most Among other things, the city is with businesses in the city’s 16 des- finalized and groups that were not In two meetings with Walmart voters would welcome Walmart, planning an $8 million fund to ren- ignated industrial business zones. selected can apply for funding officials this year, Ms. Quinn ex- and she could use it to advance her ovate vacant loft buildings strictly Funding for IBZs has dropped to through a different program. pressed concern that Walmarts in FoodWorks program, designed to for industrial use. Addition- a total of $1.1 million from the city could harm Mr. D’Arrigo bring cheap, healthy produce to ally, the city will encourage $2.4 million in 2006. And Keeping the faith and his colleagues by driving retail- neighborhoods that lack it. more industrial develop- 22 starting July 1, the city will “We’re in a budgetary environ- ers who use the market out of busi- A deal on Hunts Point would ment at the Brooklyn Army INITIATIVES cut the number of service ment where we need to do more ness. Since Walmart would use its also burnish her business creden- just launched Terminal and Hunts Point in by city to foster providers it uses in the zones with less,” said the EDC’s Mr. Pin- distribution centers in Tobyhanna, tials. Barring a surprise candidate in the Bronx. It is also mulling small industrial to eight, from a dozen cur- sky.“We have a lot of faith in the or- Pa., and Johnstown, N.Y., for stores the 2013 election, business leaders measures to make sure that enterprises rently. The Local Develop- ganizations that will run IBZs.” in the five boroughs, Hunts Point expect to rally around Ms. Quinn, large hotels that build in in- ment Corp. of East New Maybe so, but some of those or- would not get new business from the but her current stance against Wal- dustrial zones go through proper re- York and Hunts Point Economic ganizations and community officials company without a deal. mart could prove awkward for them. view and do not disrupt businesses Development Corp. are two non- are still hoping that the Bloomberg Even though Walmart is not in those areas. profits that have already lost fund- administration will address their Smaller markets cry foul seeking council approval for sites, it “The city is making its best ef- ing. Meanwhile, several others will concerns. In one hopeful sign, Ms. Quinn plans to follow up would rather the speaker not remain forts to engage with businesses,” add an IBZ to their responsibilities among the initiatives outlined earli- with the retailer once the city bud- an enemy.It recently promised up to said City Council member Diana and still see their funding decline. er this month was one setting up a get is finished later this month. $5 million to the city’s summer jobs Reyna, chair of the small business “It will be difficult,” said Jean new desk within the city EDC de- Large supermarkets like Costco, program, an initiative important to committee. “But there is a lot that Tanler of the Queens Business Out- voted to the industrial sector. It is to Target and Pathmark use their own Ms. Quinn. remains to be seen.” reach Center, which will serve act as a liaison between city agencies, produce distribution networks. But Ms. Quinn is not promising to Queens West as well as two Brook- IBZs and local businesses. smaller ones such as Gristedes, drop her opposition to Walmart if a Space drain lyn IBZs. “The Bloomberg administration D’Agostino, Western Beef, Morton Hunts Point deal is reached. “In any Industrial space, for example, The South Bronx Overall Eco- needs to collaborate with manufac- Williams and Associated, as well as negotiations, there’s rarely one final continues to be lost to illegal resi- nomic Development Corp., for ex- turing and industrial businesses in greengrocers, rely on the market. issue,”she said.“But it’s an important dential conversions each year— ample, will now provide services resolving their issues moving for- Gristedes Chief Executive John issue. It is a very important one.” Ⅲ which is just one reason why some across the entire Bronx, a borough ward,” said Ms. Reyna of the City Catsimatidis said he does $50 mil- critics say these new efforts are too that boasts more than 1,500 busi- Council. “Businesses need to be lion in business a year at Hunts LISTEN to a discussion at little and too late. They also note nesses. Meanwhile, the budget for heard.” Ⅲ Point, accounting for 90% of his CrainsNewYork.com/podcasts

24 | Crain’s New York Business | June 20, 2011 20110620-NEWS--0025-NAT-CCI-CN_-- 6/16/2011 8:15 PM Page 1

of 55%workers polled nationwide would accept a promotion without a raise BUSINESS LIVES Source: OfficeTeam

HOT JOBS EXECUTIVE INBOX Anne Fisher VP, OPERATIONS COMPANY TPR Holdings JOB DESCRIPTION Direct staff; Absorbing a develop and implement purchasing, logistical and burst of new production systems in order to business meet customer requirements MOST IMPORTANT TASK LET’S SUPPOSE you have an Maintain a manufacturing staff online enterprise that sells a hot capable of producing a wide new product—so hot that it’s range of consumer goods featured on The View and Today, and in Men’s Journal and W. CREDENTIALS NEEDED Seven to Could you cope with the sudden 10 years’ executive experience rush of new business? SALARY $120,000-$200,000 It’s a “problem” that Mott 50 has been dealing with since a RECRUITER Internal barrage of media attention DOWNSIDE Young firm is still began in mid-May. Mott 50 sells trying to make a name for itself clothing that helps protect UPSIDE Executive has the oppor- wearers from UVA and UVB rays. tunity to spearhead the develop- Endorsed by the Skin Cancer ment of a growing business Foundation, the clothes are made of specially woven and TPR is a Manhattan-based treated fabrics that boast a sun investor in the consumer-products protection factor of 50, versus an industry. It has collaborated with SPF of just 5 for a plain old T-shirt. large companies, including Co-founders Anne Botica and Procter & Gamble and Shiseido Monique Moore are both tuned Cosmetics. in to the dangers of getting too —IRVIN IBARGUEN much sun. “Not only are people more conscious of the skin- cancer risk now than in the past, EXECUTIVE MOVES MARSHALING HER FORCES: but there’s a greater awareness Ary Nuñez has parlayed her of what the sun can do to your Reader’s Digest knowledge of martial arts into a looks,” Ms. Moore noted. Association: Dan lengthy roster of fitness clients. With summer looming, Mott

Lagani, 47, was buck ennis promoted to the 50 has been deluged with orders. newly created position That’s great, but managing leaps of president, North GOTHAM GIGS in website traffic poses some America. He was challenges. “The biggest concern previously president is maintaining excellent customer of Reader’s Digest Association Media. IMAX Corp.: Marc de Grandpre, 37, joined service,” said Ms. Moore. as chief marketing officer for the The first step is to staff up, entertainment and technology company. but without busting your budget. His most recent post was as chief Nurturing NY Ninjas Ms. Moore and Ms. Botica marketer for Qualcomm’s Firethorn answer phones and e-mails division. around the clock; they’re helped Univision Communications Inc.: Lee Ary Nuñez’s father introduced her to martial arts when she was just 5. Davis, 49, joined as executive vice ‘Through by a couple of summer interns. president of sales for Univision Radio. The Bruce Lee fan had a special name for his daughter: Dragoncita, To handle wild fluctuations in He most recently served as general sales martial or baby dragon. ¶ Ms. Nuñez, who holds black belts in several forms, online traffic, the most efficient manager at CBS Radio’s 1010 WINS. has used her training to become an in-demand fitness expert; her long approach is the trendiest: using Enrique Teuteló, 41, arts, I’ve cloud computing. Companies was named anchor of client list includes celebrities Rihanna and Kat DeLuna. ¶ “Through can route activity through a third- Noticias Univision 41 martial arts, I’ve developed a sense of discipline and self-esteem that party provider like Amazon Web Al Despertar developed (Univision 41 News at has helped me achieve anything I’ve put my mind to,” said the 40-year- Services or Dropbox, allowing Dawn). He is a two- discipline. old Brooklyn native. “What it’s done for me, it can do for anyone.” ¶ them to ramp up capacity quickly. time Emmy nominee She trains her clients at Venia East, a boutique studio recently opened “What makes it perfect for and has been What it’s handling sudden, short spikes is nominated three times for the Miami on West 30th Street under her brand, Gotham Global Fitness. Venia that you only pay for what you Life Awards, winning the honor twice. done for means “indulgence” or “grace” in Latin, she notes. ¶ Ms. Nuñez has actually use,” said Uri Foox, CEO He most recently anchored Univision’s late-evening news and weekend me, it can developed Gotham Ninja, a 60-minute class fusing martial arts and of Pixafy, which manages Mott editions. aerobics to help participants unlock the “modern-day ninja” inside. 50’s website, using AWS. Sutherland Asbill & Brennan: Robert D. Who’d have guessed that a Owen, 62, joined the law firm as a do for The program will next be offered this weekend at W hotels downtown cloud could make possible Mott partner in the litigation practice group. and in Hoboken, N.J. ¶ “Gotham Ninja is perfect for New Yorkers 50’s (ahem) moment in the sun? He was previously a partner at Fulbright anyone’ because it has both the hard and soft of who we are,” Ms. Nuñez said. & Jaworski. HOW WELL could your firm handle a Squire Sanders & Dempsey: Marianne “I want people to leave feeling stronger, more powerful and beautiful.” burst of new business? Tell us at See EXECUTIVE MOVES on Page 26 —jermaine taylor www.crainsnewyork.com/execinbox.

June 20, 2011 | Crain’s New York Business | 25 20110620-NEWS--0026-NAT-CCI-CN_-- 6/17/2011 12:47 PM Page 1

RÉSUMÉ REVIEW Making a digital comeback Is your job search all it could be? We ask the experts. NAME MAURENE CAPLAN GREY I met a guy who was doing his own the smartphone edition and be true Magazine veteran blog and wanted to sell it as an app. to what we believe, which is to de- SUMMARY publishes editions I thought: What if there was a sign to the way people are [reading]. IT research analyst and business consultant company that provided an infra- PROFESSIONAL EXPERIENCE You’ve said you’ll focus on advertising in designed for the iPad structure for these guys? The ad- Grey Consulting, Kent Lakes, N.Y. 2012. What are your plans for ads? vantage of what we’re doing is Founder, principal analyst, 2005-present that if each title can average The ads we run won’t be intrusive Developed technology research, advisory and consulting firm. BY MATTHEW FLAMM around 14,000 subscrip- in the way that so many display tions a year, we’re making ads are on websites. We’re Example engagements: Implemented cultural change management former president of money.And that’s without thinking we’ll move them to program for Iroquois Gas Transmission Systems; copyedited proposal Newsweek and a longtime advertising. where the user controls ac- material for major prospect for Deloitte; developed white paper on media industry adviser, cess to the ad.In the same way, HIPAA compliance, data privacy and security for Cisco Mark Edmiston recently Each Nomad edition is we don’t have links embedded Gartner Inc., Stamford, Conn. Agot back in the magazine game with designed to be read in in the stories. Links are useful, Research director, 2000-2005 the launch of digital publisher No- about half an hour. Why but we put them in back, Lead analyst on electronic messaging, calendaring/scheduling and mad Editions. The low-overhead so short? out of the way, be- human communications; published more than 150 research reports; operation publishes weekly maga- It makes sense cause we want people partnered with account executives on sales calls and won an average of zines that go to see how peo- to have a reading five new clients or upsells per quarter straight to the ple engage with experience where EDUCATION iPad, and cur- content and then they’re not jump- rently has six create content ing around. Fairleigh Dickinson University, postgraduate work in computer science MOVERS & University of Pittsburgh, B.A., summa cum laude, communications SHAKERS special-inter- that works best est titles on on that device. You’re 67. Are you Résumé appears in condensed form. sale in Apple’s The amount of surprised to find EXPERT ADVICE Mark you’ve become a digital App Store. time people spend Maurene has a well-formatted résumé that speaks about two careers: one publisher? Edmiston They include reading is shorter working for top organizations in IT and research-related roles, and one health title with an iPad than a This is very much a working as an independent consultant. While she communicates her skills BodySmart print magazine. change in my life I and wine Right now, the didn’t expect. But and clearly shows her ability to manage down and cross-functionally, her magazine Uncorked. Mr. Edmiston, Nomad edition on I’ve always been in- skills in managing upward and her executive-level interaction are unclear. who shares revenue with the maga- iPhone is very terested in this stuff. Additionally, Maurene has an A-list of clients in her individual consulting zines’ creators, will add pets title similar to the Back in the ’80s, business, but I am getting the sense that she is showing a laundry list of Good Dog! to the list later this iPad [edition], when I finished my her work. She could cut back on the examples and dive deeper into the month,and hopes to have more than but our numbers term as chairman of results she achieved for her clients, as well as what part of the organization a dozen magazines going by the end show that people the Magazine Pub- she worked for. I recommend that she rework her title, as it undersells her. of the year. read in [even] short- lishers of America, —jason levin, district manager, Vault.com er bursts on the they asked what I To contact this candidate or to be featured in “Résumé Review,” e-mail us What made you get back into the phone. We’re think- wanted as a gift. I said, at [email protected]. business of putting out magazines? ing we need to redo “A modem.”

head of international small and medium EXECUTIVE MOVES enterprises. She comes to the insurance broker and risk adviser after serving as th Continued from Page 25 senior vice president and global Townhouse For Sale – 24 East 39 Street Rosenberg, 56, joined the law firm as a reinsurance officer at Chartis. partner. She was formerly a partner at Madison International Realty: Todd D. Cozen O’Connor. Silverman, 33, joined as managing Initiative: Tej Desai, 36, joined the director of equity capital markets. He communications company as senior vice was previously managing director at president and group business director. Tishman Speyer. • 49 feet of frontage He most recently served as vice Lorelei Enterprises and Events Inc.: Frank president, global marketing, at New Accosta, 49, was promoted to vice • 6-story former university club Video Group. president of the event management and New York State Society of Certified Public production company. He was previously with classic turn-of-the-century Accountants: J. Michael Kirkland, 60, has a senior account executive. detailing been appointed vice president. He is a David Y. Rosenstock, 56, was promoted director of Deutsche Bank’s accounting to vice president. He was previously a policy and advisory group. senior account executive and production • 3 blocks from Grand Central, Gina Goodenow, 33, has been appointed manager. steps from Park Avenue president of the Manhattan/Bronx Metropolitan chapter. She will continue to serve as a Transportation member of the NYSSCPA not-for- Authority: Jonathan A. • 28 guest rooms, multiple meeting profit organizations committee. She is a Ballan, 52, was rooms and commercial kitchen senior manager in the accounting, appointed a member compliance and tax division at of the board. He is a Maryknoll Fathers & Brothers. member of Mintz • Ideal uses include consulate, Travel + Leisure: Nilou Levin Cohn Ferris university club, residential, Motamed, 40, was Glovsky and Popeo. community facility promoted to features Draftfcb New York: Anthony Nelson, 38, director and special joined the marketing communications correspondent for the agency as executive vice president and • Excellent access to transportation American Express director of integrated production. He Publishing title. With was previously executive integrated the new title, she will producer at CP+B Boulder. now work on promoting the brand in JWT: Laura Agostini, 52, joined the addition to continuing her previous marketing communications firm as chief duties as features director. talent officer. She previously served in Federman Steifman: Jay Melnick, 35, the same capacity at MEC. joined the law firm as special counsel. —jonas altman-kurosaki For more information, visit www.24e39.com or contact an exclusive agent: He was previously an associate at Seyfarth Shaw. EXECUTIVE PROMOTIONS Jason Meister Jon Epstein AppNexus: Matthew Haies, 38, joined as The fastest way to get an announcement into 212.326.4918 212.326.4732 general counsel at the online ad agency. Crain’s is to submit online. Fill out the form NEW YORK CAPITAL MARKETS TEAM [email protected] [email protected] He was previously chief executive at at www.crainsnewyork.com/section/ PrivaCeed. executive_moves. The Executive Moves column Marsh Inc.: Jessica Isaacs, 30, joined as is also available online.

26 | Crain’s New York Business | June 20, 2011 20110620-NEWS--0027-NAT-CCI-CN_-- 6/17/2011 12:48 PM Page 1 chemex / INSATIABLE CRITIC e-mail [email protected]. flickr.com Gael Greene THE WORKSHOPS THURSDAY, JUNE 30 THE HATCHERY and NYC BUSINESS WEEK SOLUTIONS invite you to “Prepping to Pitch: Understanding Private Equity Agreements.” This free workshop will Piece of Versailles AHEAD teach entrepreneurs how to pitch investors, understand and negotiate private equity agreement terms, and find JUNE 27-JULY 3 potential investors. The workshop will on Eighth Avenue take place at 110 William St., fourth-

floor conference room, from 9:30 a.m. to world photos wide CONFERENCES AND /

11 a.m. For more information, call ap Qi Bangkok Eatery SEMINARS (212) 618-8914 or e-mail MONDAY, JUNE 27 [email protected]. serves fiery food MANHATTAN CHAMBER OF COMMERCE WHAT HE’S invites you toUL a “WakeURAL Up YourVENTS C T E in Tourist Central Business” session. Business survival MONDAY, JUNE 27 READING strategist Ethan Chazin will teach The HBO Bryant Park SUMMER FILM here was a time in the attendees strategies to re-energize sales, FESTIVAL presents a free showing of STEVE FEINBERG is chief executive ’70s when I avoided marketing and customer care programs Alfred Hitchcock’s early thriller The 39 of Cerberus Capital Management, sleazy, scarifying Eighth to drive business forward. The seminar Steps. The park lawn will open at 5 p.m. one of the world’s largest private will take place at Pera Mediterranean for blankets and picnicking, and the film equity funds. He’s best-known for Avenue near 42nd Street. Brasserie, 303 Madison Ave., from 8:30 will begin at sunset (between 8 p.m. and Then I got a crush on a buck ennis a.m. to 10 a.m. This event is free for 9 p.m.). For more information and a acquiring Chrysler in 2007, before DISH FOR HOT HEADS: Kee moo noodles Tporn star who recited Shakespeare.It members and $15 for nonmembers with complete listing of the festival’s the automaker sank into was the disco era, and I occasionally preregistration; the cost is $20 for all at showings, which will run through bankruptcy. His firm also bought found myself at 3 a.m.,flushed from QI BANGKOK the door (cash or check only). To August, visit www.bryantpark.org or call a majority stake in GMAC. hours of feverish dancing, cringing EATERY register, visit www.manhattancc.org. For (212) 512-5700. Tracking his holdings keeps in the glare of an all-night grocery more information, call (212) 473-7875 Mr. Feinberg so busy that he while the guy bought and 675 Eighth Ave. or e-mail [email protected], JL . S A 2 Pick The Times RITE OF doesn’t have time to read a white grapefruit for his breakfast. (212) 247-8991 The first annual of the www.qirestaurant.com WEDNESDAY, JUNE 29 SUMMER MUSIC FESTIVAL, week anything besides company For a quarter, you could see a Roy Fenichel Esq. presents “TRUSTS, the first classical- reports, newspapers and a naked woman shimmying in the ESTATES AND REAL ESTATE,” a free contemporary concert series smattering of magazines. burlesque house between 42nd and accredited continuing legal education on Governors Island, kicks off with free “I can’t remember the last 43rd, a few steps from the adult film CUISINE Thai class for lawyers. The class will address performances of Terry Riley’s minimalist book I read,” he said after giving a shop where I’m standing now, buf- PRICE RANGE $9.90-$24 topics including estate planning manifesto In C. The concert will be techniques for real estate holdings and performed twice, at 1 p.m. and 3 p.m. presentation at an investors feted by throngs of tourists bulging conference that raised money for out of tank tops and polyester SERVING Lunch, dinner representation of a buyer or seller in an For more information and for a listing cancer research. “My daughter bustiers. Looking for dinner. Look- estate transaction. The CLE class will for future festival concerts, visit RESERVATIONS Never hurts take place at Bank of America, 114 W. www.riteofsummer.com or e-mail gives me a hard time about this. ing for Qi Bangkok Eatery. to reserve 47th St., 12th floor, from 8:30 a.m. to [email protected]. She says I should read books, Amazingly, it is right here. You noon. To register, call (646) 695-7925 or —suzanne panara can’t really miss the exquisite Thai NOISE LEVEL Plastic-muffled and I’m going to try to do that.” —AARON ELSTEIN face in the photograph posted along- I can’t wait to return. To view Crain’s classified events listings, go to www.crainsnewyork.com/events side the door. Inside, the place is I will definitely go back. sheathed in white marble, shiny em- bossed plasterwork, white leather I’ll let them simmer awhile. with electrified crystal candelabras NO HATS Never again. encased in plastic—something between Versailles and a Vegas spa. Belatedly, a host leads us under a most everything we order seems tor- tight chorus line of glittering lights rid to the abstainers. My mate looks to a communal plastic table where betrayed, discovering that even his we are seated in see-through plastic tuna tartare has a fiery after-blast. Expect us to be chairs, framed for privacy by cande- I assure him the marvelous ruf- labras in plastic boxes. “It’s a nail fled pan-fried kee moo noodles with spa,” says Mexican food diva Zarela a great mix of vegetables in a spicy YOUR PARTNER. Martinez.“We should be drying our basil sauce is “almost bland,”though nails under the crystal lamps.” it isn’t. He’s not fooled for a minute, Shall we flee or stick it out? At but we both love the sticky rice noo- least it’s bright enough to read the dles, so he toughs it out. $9,000,000 $22,000,000 $12,500,000 $29,000,000 menu.“Bangkok Selection by Pichet Charcoal-grilled heads-on tiger Revolving Credit Revolving Senior Revolving Senior Credit Ong,” it says.That’s what brought us prawns are perfectly cooked and Facility & Term Loan Line of Credit Credit Facility Facility here. I’m eager to gauge the Ong ef- wreathed in fish sauce with a torrid Provided for Provided for Provided for Provided for fect, to taste the savory home cook- burn from garlic, lime and chile. ing of the pastry wizard who rede- Five-spice honey-glazed ribs and a fined Asian desserts at Spice luscious smoke-touched toss of Market. The ginger margarita, not Japanese eggplant with minced too sweet, softens my mood but shrimp and chicken are gentler. ASSET-BASED FINANCING doesn’t make the complicated menu Dried bird’s-eye chiles in the fiery of specials and specialties less con- red turmeric pork curry make it al- fusing. But it quickly becomes clear most too hot for me, though the tap- e’re helping businesses like yours grow. there is no confusion in the kitchen. estry of galangal, lemongrass, co- This is the best green papaya sal- conut and shrimp paste is thrilling. See why we’ve earned our reputation as a leading provider of working capital ad I’ve ever tasted. I order this dish “This is really good,”I cry,tasting the ﬁnancing to growing companies. For more information, contact Warren Mino, President, whenever it’s offered, and it might tamer chu chee curry grilled tiger at 212-806-4500 or visit us at Websterbcc.com to submit an online application for come with string beans, cherry prawns, striped with coconut cream. credit or ﬁnd our nearest location. tomatoes and roasted peanuts, but Wishing we’d ordered the green it’s never this elegant, the fruit fla- jackfruit curry pork rib,the lotus stalk NEW YORK | BOSTON | HARTFORD vored and softened by blanching,the fish curry and something in a clay pot dressing a glaze of sweet, hot, sour from entrées, $9.90 to $24 (lunch and bitter—that’s Ong’s mantra, he specials start at $7.95).But I’m all too NYSE:WBS* tells me when I check to be sure it’s human and can’t eat everything, giv- ® his food and not just his name. en that I seem to be finishing what Visit Websterbcc.com

Alas, there is the fatal chile divide the timid have left behind. All credit facilities are subject to the normal credit approval process. * The NYSE ticker symbol of WBS is assigned to Webster Financial Corporation and does not constitute an offer to buy or sell securities by the Company, its in our foursome.Half of us like it hot; subsidiaries or any associated party and is meant purely for informational purposes. Webster Business Credit Corporation is a subsidiary of Webster Bank, N.A. Member FDIC. Equal Housing Lender. The Webster Symbol and Webster Business Credit are registered in the U.S. Webster Bank, N.A. the other half do not. Our server is Copyright © 2011 by Gael Greene. Member FDIC Patent and Trademark Ofﬁce. not equipped to guide us. Indeed, al- Syndicated by www.insatiable-critic.com.

June 20, 2011 | Crain’s New York Business | 27 Project5:fp template.qxd 6/3/11 5:12 PM Page 1

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