NY Voters Like Paterson but Want Options Whom Would You Vote for in a Gubernatorial Race? Continued from Page 1 Lines, Easily Eclipses Mr

CNYB 04-14-08 A 1.qxp 4/11/2008 8:06 PM Page 1

TOP STORIES BUSINESS LIVES Media Digital upstarts vets plot give record labels a second run for their artists acts PAGE 2 ® PAGE 31 Harlem fights city’s plans for VOL. XXIV, NO. 15 WWW.CRAINSNEWYORK.COM APRIL 14-20, 2008 PRICE: $3.00 125th St. BROADCASTING PAGE 3 Bankruptcy surge NY voters like suits lawyers fine as firms gear up El shock jock Paterson but PAGE 3 lifts WCAA radio Fashion designer want options Nanette Lepore Morning-show surge expands seeks sugar daddy Spanish-language audience Little fallout from to help her grow biz scandals; rivals NEW YORK, NEW YORK, P. 6 BY MATTHEW FLAMM would offer strong challenges in 2010 SMALL the onetime king of morning radio is back, and his name is BUSINESS not Howard Stern. BY ERIK ENGQUIST REPORT Luis Jimenez (left), the former star of top-rated El Vacilón new yorkers are generally sup- JAN. de la Mañana on WSKQ-FM, portive of new Gov. David Pater- 2005 -Chronicle of a has knocked his old show off its son,who appears to be undamaged quick success pedestal, according to prelimi- by revelations about his personal nary ratings from Arbitron. life. But they are far from con- -CPA shortage Since his much-heralded re- vinced that they want to keep him, pinches hard turn to New York in January, according to a poll conducted for

the Puerto Rican shock jock Crain’s. grange paul -How to get who used to give Mr. Stern a Voters would opt for Mayor right insurance run for his money has taken tiny Michael Bloomberg in a prospec- For all poll results, go to

WCAA-FM’s morning drive tive matchup if an election were www.crainsnewyork.com show to fifth place from 32nd held today, while either former ➠ -Industrial among listeners 25 to 54 years Mayor Rudy Giuliani or Attorney Hits & Misses old, according to the February General Andrew Cuomo would Mr. Paterson is viewed favor- APR. PAGE 19 monthly report. make a strong showing against Mr. ably by 57% of registered voters 2008 The show’s share in the Paterson, according to the poll by statewide and unfavorably by just demo most appealing to radio Charney Research. 12%,but a substantial 31% have no See EL SHOCK JOCK on Page 8 “Paterson is benefiting from the opinion, according to the poll, voters giving him a chance,” says which was conducted from March AT DEADLINE HISPANIC MEDIA is on political consultant Ernie Lendler. 31 to April 3.Mr.Paterson stepped the rise, outpacing the But the poll shows that the public into his role after 14 months in the ANDRÉ BALAZS SOLD HOTEL general market See Page 8 “doesn’t give Paterson a lot of slack. obscure post of lieutenant gover- QT AT 125 W. 45TH ST. TO A I don’t know how long the honey- nor, following the resignation of Spanish hotel company called moon is going to go on.” See NY VOTERS on Page 9 Room Mate Hotels, which owns chic budget properties mostly in Spain. Financial terms of the deal were not disclosed. However, Mr. These businesses welcome the recession Balazs has abandoned a plan to sell his stake in some of his eight other luxury and restaurant managers are pondering midpriced hotels. In a separate Job advisers, grocers cutbacks as regulars are eating in transaction, he recently expect sales to jump; more often than out. refinanced them with an Career counselors,supermarket overseas private equity fund. some worry about owners and discount retailers have another view. For them, the bad VERIZON COMMUNICATIONS trading down times could be good. INC. CAN NOW MOVE “With economic adversity can forward with its plans to offer BY DANIEL MASSEY come opportunity,” says Marshal television service in New York Cohen, chief analyst at retail trend City after the city announced workers on wall street are tracking firm NPD Group Inc. Friday that it will start taking worried they could lose their jobs. Some businesses have already proposals from new cable TV Builders are concerned there will seen increases, while others are See AT DEADLINE on Page 2 be no buyers for the condomini- sure that gains lie just around the ums rising into the city sky. And corner. As news of gas price increases, mortgage mayhem, a housing slump and layoffs spreads,

15 consumers have shifted their shop- 5 ping habits. For the first time in more than a decade, they rank low prices as the No. 1 factor in decid- ELECTRONIC EDITION ing what to buy and where to buy

it, according to the 2008 AlixPart- larry ford NEWSPAPER See RECESSION on Page 8 JACK’S, a 99-cent store, expects an influx of customers who want to stretch their dollars. 71486 01068 0 CNYB 04-14-08 A 2 4/11/2008 7:07 PM Page 1

AT DEADLINE Continued from Page 1 including AsianAvenue.com and Music without labels providers.The City Council MiGente.com, is on track to authorized the Bloomberg making $20 million in revenue administration to open the cable this year. TV market to competition in Acts known and obscure turn to digital startups October 2006, but the A MANHATTAN COMPANY SAYS administration failed to issue a IT CAN PREVENT NEW YORKERS request for proposals—the next from being hung out to dry by a BY SAMANTHA MARSHALL step in opening the field to new new tariff on Chinese-made providers. Verizon hopes to be wire hangers. EcoHangers are who needs big record labels? operating in the city by the end created from 100% recycled Not U2 and Jay-Z, who left their of the year. Verizon is already paper, according to five-year-old companies in the past two weeks to sign competing against Cablevision Hanger Network. More than Systems Corp. in more than 145 500 area cleaners are already on with Live Nation. Madonna, New York suburban using the hangers, which they Radiohead and Nine Inch Nails have also communities, where it has been get free because the hangers voted with their feet. Even emerging acts able to obtain cable TV feature paid advertising from franchises since 2005. companies like Joseph Abboud are joining upstart digital companies in and Staples. Dry cleaners defiance of the conventional wisdom that the majors are still necessary to sell lots of records. THE MANHATTAN THEATRE can also opt to purchase At a time when any unknown songster can get 3 million views on YouTube at little cost, CLUB IS STARTING A PROGRAM EcoHangers without many artists have become motivated to maintain control of their music and offering $30 tickets to people advertising.The Commerce under 30 in an effort to attract Department imposed a tariff keep more of their income. Small New York-based companies like younger audiences.Theater- late last month that raised Nabbr,TuneCore and Music Nation are cashing in on the trend as goers will receive weekly e-mails hanger costs as much as 100%. they help acts big and small scale the charts on the strength of their listing the shows and nights for digital platforms and the viral marketing power of YouTube and which discounted tickets are PACE UNIVERSITY’S NEW available.The nonprofit theater PRESIDENT, STEPHEN MySpace. company will kick off the Friedman, confirmed that he “The bottom line is that digital has made the infrastructure of program with From Up Here, is considering closing the traditional, brick-and-mortar distribution less necessary,” says Jeff Price, which opens on Wednesday. technology incubator’s Manhattan location, and has chief executive of TuneCore, a Brooklyn-based digital distributor that COMMUNITY CONNECT INC. HAS already shuttered the Yonkers artists including Björk, Keith Richards and Ziggy Marley BEEN ACQUIRED BY RADIO location. “It’s a peanut,” says Mr. use to package and sell their music online. One Inc., a Lanham, Md.-based Friedman, referring to the small The majors recognize the power of radio broadcaster, for $38 number of companies at both million. Manhattan-based incubators.The move would viral marketing. In an attempt to play CCI is the operator of popular be one of several measures by catch-up, Warner Music Group, Sony African-American site the president to streamline BMG Entertainment Group and BlackPlanet.com, which has departments at Pace and Universal Music Group formed a joint become the fourth-largest social- consolidate programs that networking site in the nation. overlap with each other or venture with MySpace two weeks The 11-year-old firm, which also don’t contribute significantly ago to develop a music platform. runs four other niche sites, to campus life. Of course, using companies See MUSICAL ACTS on Page 8 CORRECTIONS

The rug store slated to open at 75 Grand St. this year is called Halvai. The shop’s name was DOWNLOAD TIME: misspelled in the April 7 “Real Estate Deals” column. “Digital has made Twenty-five of the 35 films sold at the Tribeca Film Festival last year were part of deals that traditional included some U.S. theatrical distribution. The April 7 story “In search of a hit” said that few distribution less films had theatrical deals. necessary,” says Jeff Price of TuneCore. THIS WEEK IN CRAIN’S

33 ALAIR TOWNSEND ------13 THE INSIDER------14 buck ennis

WEEK IN REVIEW ------16

REAL ESTATE DEALS------17

THE WEEKS AHEAD ------18 A $5 billion loss? Not bad REPORT: an influential Wall Street watcher $21 billion worth of collateralized SMALL BUSINESS------19 Some view Citi’s and founder of independent re- debt obligations and other mort- NEIGHBORHOOD halving of loss a good search firm Portales Partners, up- gage-related assets. But it has an- graded Citi shares to “buy” after five other $17 billion in gross write- JOURNAL------27 start; execs say long years of defining them as a downs left, according to Goldman “sell” or a “hold.” Sachs analyst William Tanona. CLASSIFIEDS ------28 write-downs covered That could force the bank to raise Second-worst in its history BUSINESS LIVES------31 cash for the third time since last fall. BY AARON ELSTEIN a $5 billion loss on $14.8 billion in Officials at Citi insist that the CORPORATE LADDER------33 revenue would still qualify as the $30 billion they have raised so far is EXECUTIVE MOVES------33 a $5 billion loss is typically not the second-worst quarterly perform- sufficient. sort of thing that makes investors ance in Citi’s history, and more red Meanwhile, Chief Executive HOME FRONT------34 35 stand up and applaud. But as Citi- ink could be ahead. Vikram Pandit continues to shake BOB LAPE ------35 group Inc. prepares to report a first- But the optimists say that the up seating in the executive suite, quarter loss of that magnitude this possibility of such bad news is al- naming new heads of the invest- vol. xxiv, no. 15, april 14, 2008—Crain’s New York Business (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals week, a few analysts say that there ready priced into the shares. They ment and consumer banking groups postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address might be light at the end of the tun- note that the first-quarter numbers in recent weeks. changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a nel for Citi’s battered stock, which would be a marked improvement A Citi spokeswoman declined to copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents has plummeted 58% in the past year over Citi’s stunning $9.8 billion comment. copyright 2008 by Crain Communications Inc. All rights reserved. and now trades at a 10-year low. fourth-quarter loss. Just last week, Charles Peabody, Citi has already written down COMMENTS? [email protected]

2 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 3 4/11/2008 7:28 PM Page 1

WORD ON THE STREET: Some fear the loss of Harlem’s character. “This isn’t SoHo,” says Philip Face-off along Bulgar of Manna’s. 125th Street

as an assault on Harlem’s status as a buildings if their properties desig- Rezoning battle: mecca of black culture. nate space for arts and culture uses. gentrification fears “They are trying to turn Harlem She expects that bonus to encourage vs. economic gains into some bourgeois neighbor- the creation of businesses, such as hood,” says Philip Bulgar, a manag- art galleries and jazz clubs, that will buck ennis er at Manna’s Soul Food & Salad help preserve Harlem’s legacy. BY THERESA AGOVINO Bar, a buffet-style eatery at the cor- Two City Council committees must be income-targeted for the that they need better schools and job ner of West 125th Street and Fred- are slated to vote this week on the re- neighborhood, says Franc Perry, training, not rezoning, to improve the bloomberg administration erick Douglass Boulevard. “This zoning proposal; if approved, the chairman of Community Board 10. their economic status. They note has an impressive record on land use isn’t SoHo. This isn’t the Upper plan would go before the full coun- There’s another potential obsta- that many Harlem residents are shut planning. All 80 of the rezoning East Side.” cil. Right now, passage of the meas- cle. A Harlem community group out of office jobs available elsewhere plans it has presented to the City ure is uncertain. The council typi- discovered an obscure clause in the in the city, and they don’t see how Council—including some that were Office towers, apartments cally takes its lead from local City Charter which says that if a re- adding positions nearby will help. highly controversial—have won ap- the rezoning plan paves the way members, and Councilwoman Inez zoning plan is opposed by 20% of Residents say the rezoning proval. for office towers of up to 20 stories, Dickens is not supporting the pro- property owners in and around the would trigger rent increases at both But City Planning Commission new retail space and 2,000 units of posal as written. She objects to the area, the proposal must win 75% of apartments and stores. Sikhulu Chair Amanda Burden says none of market-rate apartments that would fact that there are no provisions to votes in the City Council in order to Shange, owner of the Record Shack them has posed as many challenges attract higher-income households help the 71 businesses that will be pass, instead of 51%.The group, the on West 125th Street, says his land- as the proposal to rezone 125th to the area. That vision contrasts displaced by the rezoning. She also Voice of the Everyday People, con- lord refuses to negotiate with him on Street in Harlem, part of a plan to with the low-rise buildings, occu- wants the plan to mandate that de- ducted a survey of owners and was rent because it wants him out of the encourage development and create pied by neighborhood shops, that velopers include affordable housing tabulating the results last week. way to get ready for redevelopment. as many as 9,000 much-needed jobs now dominate 125th Street. The and arts spaces, rather than simply That’s unfortunate, Mr. Shange in the area. plan also anticipates construction of encourage them. Harlem’s unique character says, because his store, which carries That’s because the concerns of as many as 450 units of affordable The housing component has the city’s overtures have not a variety of music from black artists local politicians and community housing. been criticized for another reason: quelled many residents’ fears that and movies about prominent groups go beyond those typically as- To maintain Harlem’s character, So-called affordable units are some- gentrification will destroy Harlem’s African-Americans, draws tourists sociated with rezoning, such as de- Ms. Burden notes, the city is offer- times beyond the reach of poor peo- unique character. And they are not and honors Harlem’s history. mands for affordable housing. ing developers an unprecedented ple. The median household income convinced that development will Many see the city officials’ proposal opportunity to construct taller in Harlem is $27,600. Apartments lead to jobs. Many residents insist COMMENTS? [email protected]

crease over the year-earlier period. Nationwide,bankruptcies are ex- Firms take bankruptcy to the bank pected to surge. Moody’s Investors Service reports that 1.5% of business borrowers were in default in Febru- offers to top lawyers because banking rainmaker Richard Levin from ary,up from 1% in December.It pre- Start practices, ruptcy and restructuring cases com- Skadden Arps Slate Meagher & dicts that defaults will climb to 6.5% poach rainmakers monly drag on for years, absorbing Flom to lead the group. over the next 12 months. thousands of billable staff hours at “Cravath has thrown out their Skadden Arps corporate restruc- to rack up millions rates of up to $900 an hour. A team traditions and hired [Mr. Levin] to turing head Gregory Milmoe fore- in fees as filings soar on a bankruptcy case can easily log run a restructuring department, sees a surge in bankruptcies. “I’d say $1 million in fees a month. which they’ve never had,”says David we’re standing on the beach and see- For instance, Saint Vincent Carlson, professor at the Benjamin ing the fish flopping out on the reef BY HILARY POTKEWITZ Catholic Medical Centers—by no N. Cardozo School of Law who was because there’s this wave that’s build- means the largest hospital in the formerly with Cravath. “The firm is ing [offshore],”he says.“We all know bankruptcy is back. After seven city—has incurred more than $46 violating its own rules to make an in- what’s coming next.” extraordinarily dry years for the spe- million in legal fees as its bankrupt- stant leap into the bankruptcy Skadden added 17 lawyers to its cialty, law firms across the city are cy case passes the two-year mark. world—that’s significant.” restructuring group last year, bring- gearing up to handle an expected Many old-line firms once shied ing it to 103 lawyers. Mr. Milmoe deluge of corporate casualties trig- away from bankruptcy work, con- Rising tide of woe plans to hire a few more in the next gered by the credit crisis and the sidering it unsavory. Perhaps the driving all the activity is a two months. flagging economy. most dramatic illustration of the sea sharp increase in the number of busi- “Any company that needs to bor-

Bankruptcy and restructuring lindström bekka change in such attitudes is that 189- nesses filing for Chapter 11.Through row money is going to have an is- experts are being courted and new year-old Cravath Swaine & Moore March, the U.S. Bankruptcy Court sue,” he says. practices are being created as the scored one of the biggest coups of the established a bankruptcy practice for the Southern District of New number of failed businesses mounts. year, snagging Martin Bienenstock last June.The firm hired its first sen- York had 223 such filings—most of COMMENTS? “I’ve billed more hours in the last from Weil Gotshal, where he had ior outsider in recent memory,steal- them by businesses—a tenfold in- [email protected] month than I have in 20 years of achieved fame as lead debtors-coun- practicing law,” says George Davis, sel in the Enron bankruptcy.The en- a partner in the financial restructur- gagement netted that firm more CRAIN’S SPECIAL SECTION ing group at Cadwalader Wicker- than $150 million in fees. sham & Taft. “And it is not slowing At Dewey, Mr. Bienenstock down.” heads a team of 40 attorneys and is The firm saw this coming last year, looking to hire as many as 10 more Seeking employee nominations when it lured Mr. Davis, along with ASAP. three other partners and 16 associ- “Judging by the unscientific test do you work for one of the 25 best com- ployee survey measuring factors including ates,from longtime bankruptcy pow- of my phone ringing constantly, panies in New York City? If you think you work environment, innovations/new ideas erhouse Weil Gotshal & Manges. things are clearly picking up,”he says. do, nominate your company for Crain’s and people practices. Finalists and winners Cadwalader is looking to add five To entice Mr. Bienenstock, New York Business’ inaugural Best Places will be announced in a supplement to lawyers to its 65-member group. Dewey probably offered him a to Work competition. Crain’s and at an event in fall 2008. The expansion is a marked package in the $2 million or $3 mil- Anyone can nominate company or To be eligible, companies must have at change from January,when the firm lion range—plus a six-figure sign- get more information by visiting least one location and at least 50 employ- laid off 35 lawyers in its structured ing bonus—according to legal re- www.crainsnewyork.com/bestplaces. ees within the five boroughs. Crain’s is finance group. cruiters. The firm says only that his The deadline for nominations is June 30. working with leading research firm Quan- Competition for bankruptcy-bar salary approaches “the top” of its The free competition will recognize tum Market Research to conduct and stars is fierce. compensation structure. workplaces based on a 40-question em- evaluate the employee surveys. In November,Dewey & LeBoeuf Firms are willing to make such

April 14, 2008 | Crain’s New York Business | 3 CNYB 04-14-08 A 4 4/11/2008 7:29 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL Yahoo-AOL deal would be -3.5% The Bloomberg/ savior for Time Warner Crain’s New York Index

➡ fell 3.5% to lion.Analysts expect the company to post “They are still trying to piece togeth- end the Chances of merger are per-share earnings of 23 cents on rev- er properties,”says Shar VanBoskirk,sen- week at remote; without one, enues of $11.4 billion when it reports ior analyst at Forrester Research. 320. The first-quarter results In the reported S&P 500 stock should be avoided on April 30. deal with Yahoo,AOL Index fell The media con- would be folded into 2.7%, glomerate, which the Internet giant; closing at BY AMANDA FUNG owns magazines, Time Warner would 1333. movie studios and ca- make a cash invest- merger between AOL ble networks, has ment in return for and Yahoo Inc. would allow toyed with the idea of about 20% of the com- Yahoo to escape the clutches selling AOL or spin- bined company. The of Microsoft, but the big ning it off since 2005, implied value of such a winner in such a deal is like- when it decided to sell transaction would put RISERS Aly to be Time Warner. a 5% stake to Google. AOL’s online ad busi- 5-DAY 1-MONTH 3-MONTH CLOSING Analysts say a deal might help settle Jeffrey Bewkes, ness at about $10 bil- % CHANGE % CHANGE % CHANGE PRICE Time Warner’s indecision about whether who became Time lion. Yahoo would use Scientific Games +10.3% +46.9% -12.4% $26.44 to shed AOL or build it up. Meanwhile, Warner’s chief execu- the cash and its own Schering-Plough +6.8% -13.86% -37.9% $17.21 seeking the combination appears to be tive in November,said funds to repurchase Yahoo’s last-ditch effort to ward off a in February that to re- several billion dollars’ Bank of NY Mellon +4.9% -7.2% -8.2% $42.67 takeover by the software giant, which vive AOL,he was sep- worth of stock. Medco Health +3.9% +5.8% -12.5% $44.61 could receive backing from News Corp. arating its struggling Market cap $51.7 billion But most observers Curtiss-Wright +2.9% +12.5% +1.0% $45.85 “AOL revenue has been hurting,” says dial-up access busi- Total debt $37 billion believe that Microsoft David Hallerman, a senior analyst at re- ness from its advertis- AOL visitors 109 million/month will take over Yahoo search firm eMarketer.“This is an oppor- ing unit.But the move because that is ulti- SINKERS tunity for Time Warner to bring in rev- has left the industry mately the best deal 5-DAY 1-MONTH 3-MONTH CLOSING enue without the overhead.” skeptical about the di- for Yahoo sharehold- % CHANGE % CHANGE % CHANGE PRICE But a Yahoo-AOL union is a long vision’s future.Analysts predict its ad rev- ers. That leaves the question of what will Loral Space -16.2% -11.0% -26.3% $21.15 shot. Unless it happens, investors should enues will rise a paltry 7% this year. happen to AOL. “If Time Warner can’t Monster Worldwide -15.0% -11.5% -22.6% $22.23 steer clear of the stock. Time Warner’s Time Warner has made more than $1 come to terms with Yahoo, it will hold on shares,which hit a 52-week low of $13.65 MBIA -13.3% -2.8% -28.9% $11.80 billion worth of acquisitions to transform to it,” says Greg Sterling, an independent on March 17, fell 32% in the past year. AOL into an ad powerhouse. But it has Internet analyst. And that will be bad E*Trade -11.8% -2.3% +21.8% $3.75 Time Warner’s 2007 net income was struggled to compete with Google,Yahoo news for Time Warner investors. Sirius Satellite -11.1% -9.8% -15.4% $2.48 down 33% from 2006, to $4.39 billion, or and Microsoft and to capture a bigger 96 cents a share, on revenues of $46.5 bil- share of the $25 billion online ad market. COMMENTS? [email protected]

THIS IS OUR MARKET STOCKS TO WATCH by Erik Ipsen Swedish minister rings Nasdaq’s bell, but exchange’s shares fail to awaken SWEDEN’S MINISTER for financial markets rang the bell at the Nasdaq on Friday. But neither that act nor the market’s recent absorption of big Scandinavian exchange OMX are ringing investors’ bells these days. Even a doubling in fourth-quarter earnings and an expected 70% pop in the first-quarter have failed to spark a rally in Nasdaq OMX’s shares. They are down 23% this year. They’re still up 30% over the past year, however. The 201-year-old book publisher John Wiley & Sons is certainly not to be mistaken for hot firms such as Goldman Sachs and Google. Wiley’s the one— the only one of that trio, as it turns out—that has actually made money for its investors over the past year. Its stock is up 14%, with help from four quarters of double-digit profit growth. Looks like the company’s bent for scientific, medical and technical publications is an enduring winner. Admit One, the trusted source for the acquisition and sale of live event tickets for over 20 years… On the Buy side and Sell side — we offer our clients true market value, secure transactions and Nothing seems to go right for lender dependable service. Let Admit One connect you and your clients to the events that matter. CIT these days. Last year, it wrote Call today, our market makers are standing ready to BUY or SELL all MLB tickets. down the value of a mountain of curdled mortgages; this month, it shuttered its money-losing student loan operation. The company had been expected to post first-quarter per-share earnings of 58 cents this (646) 307-4239 week, a drop of 55%. But an www.admitone.com • email: [email protected] • 1412 Broadway, New York, NY analyst’s forecast last week at a fraction of that sum sent the shares All MLB Tickets Now Available! skidding 20% by week’s end. On the Bloomberg Terminal: Type TIXX or email [email protected] charts: grange paul

4 | Crain’s New York Business | April 14, 2008 Project4 4/9/08 1:27 PM Page 1

Unprecedented

$160 Million Redevelopment in the heart of Times Square

129,576 contiguous sq.ft. on 4 full ﬂ oors of 32,394 sq. ft.

Redevelopment of unprecedented proportion is now underway at Times Square's most iconic ofﬁ ce tower. A rare leasing opportunity serves as an invitation to join Manhattan’s highest-proﬁ le corporate neighborhood.

» Redesigned glass façade » Increased electric capacity » New lobby and entrance » Column-free ﬂ oor plates » New elevators » Existing above standard installation » New upscale restrooms » Efﬁ cient center-core design » New emergency generator » Convenient to all major transportation » Upgraded HVAC capacity » On-site parking and control

FRANK DOYLE, Managing Dir. CYNTHIA WASSERBERGER, SVP DAVID KLEINER, SVP EDWARD DiTOLLA, SVP [email protected] [email protected] [email protected] [email protected] 212-812-5759 212-812-5816 212-812-5954 212-271-2910

AMY SCHUSTEK, VP STEVEN M. DURELS, EVP [email protected] [email protected] 212-216-1660 212-216-1617 www.slgreen.com 1515broadway.slgreen.com CNYB 04-14-08 A 6 4/11/2008 6:07 PM Page 1

NEW YORK,NEW YORK edited by Valerie Block

is pleased to announce Designer shops for partner amed fashion designer Nanette Lepore We are pleased to announce (left) is looking for a Daddy Warbucks to Comprehensive Health Management, Inc. Fhelp expand her business, sources in the investment community say. has leased the entire 2nd & 3rd fl oors Ms. Lepore is said to be shopping for a cash for a total of 32,564 rsf. infusion to open more stores and broaden her collection, now focused on flirty apparel and Sacha Zarba and Rob Martin of CB Richard Ellis fragrances. New lines could include accessories, represented the tenant. handbags or eveningwear. Nanette Lepore Inc. executives declined to comment. Two fl oors remaining: The Manhattan-based company is already Entire 4th and 5th fl oors - 16,282 rsf each on the move. It has opened shops in seven cities, most recently Chicago and Los Angeles. A

AVAILABLE IMMEDIATELY ap images ninth store is slated to launch this spring in Chevy Chase, Md. Luxe department stores such as Bergdorf Goodman and Saks Fifth Avenue also sell the designer’s wares. Fashion insiders weren’t surprised to hear that Ms. Lepore is looking for a backer.“With the economy today, lots of people are looking for investors,” says Lori Holliday Banks, a senior analyst at fashion consulting firm Tobe.“It’s so hard for companies to expand without a partner.”

Adam Ardise • 212.318.9741 • [email protected] Ralph Giordano • 212.318.9742 • [email protected] weeks since it opened that it’s Auction house A guide adding a spud topped with Richard Bernstein • 212.318.9746 • [email protected] moves art, self to greenery American black caviar and crème fraîche to the menu—for a mere legendary british auction just in time for $35. house Bonhams & Butterfields Earth Day, New “New York is not the capital of has quietly taken over the 27,000- York is getting ostentation anymore, but people square-foot space in the IBM Greenopia, a Zagat- are fascinated by items like that,” RAB-1001 110 Fifth Tombstone CRAINS 4x7 B/W.indd 1 4/7/08 3:03:32 PM building at 580 Madison Ave., style guide that lists says Jeffrey Crawford, co-executive recently vacated by the Dahesh more than 1,400 chef of Totally Baked, which is Museum of Art. It’s now the green businesses, from owned by one of the city’s top company’s North American Prius-equipped car catering firms, Chef & Co.Totally headquarters, replacing San services to eco-friendly Baked is New York’s only Francisco. burial services. As with restaurant dedicated to the Long established The new space quintuples the the Zagat guides, listees can’t pay ubiquitous tuber, the company size of Bonhams’ previous location, for inclusion and can’t advertise. says. commitment at 595 Madison Ave. Auctions of Founder Gay Browne launched For more pedestrian tastes— Greenopia in Los Angeles in 2006 and smaller wallets—classics like and branched out to San potatoes stuffed with broccoli and Weiser LLP Certified Public Accountants Francisco last year. She’ll spend cheddar and spicy beef chili are $125,000 for a New York foothold also on the menu, for $7 to $11. but is looking for an investor to Some dishes come with a salad. continue expansion. She has partnered with tourism bureau Contributors: Elisabeth Butler Cordova, to the NYC & Company for the rollout. Lisa Fickenscher, Miriam Kreinin Souccar New York City New York Though everyone is getting in 135 West 50th Street on the green act, Ms. Browne says New York, NY 10020 business community TAX-RELIEF ZONE Tel 212.812.7000 that research sets her book apart. “We evaluate businesses from the Fax 212.375.6888 For nearly a century,Weiser has provided FOR SALE: A Winston Churchill painting. HAWAIIAN TROPIC ZONE, that perspective of what they offer and zany Times Square eatery where Long Island accounting, tax, and consulting services, such 3000 Marcus Avenue their back-end practices,” she says. the waitresses wear bathing suits, as state and local tax planning, internal audit priceless art and antiques will be Greenopia New York, $17.95, Lake Success, NY 11042 outsourcing, and business restructuring, wants to ease the pain of tax day. held in the storefront showroom, goes on sale on April 21 at Tel 516.488.1200 to private clients and business enterprises, On April 15, customers of the Fax 516.488.1238 allowing passersby to get a Greenopia.com, as well as at including closely-held and emerging entities, Dennis Riese-owned restaurant glimpse of the action. Whole Foods, Barnes & Noble Westchester in a variety of industries including: can step into a 660 White Plains Road The inaugural auction should and other retailers. Of course, it’s money booth Suite 430 • Real estate attract history buffs and World printed on recycled paper using where wind- Tarrytown, NY 10591 • Manufacturing and distribution War II enthusiasts.The house will soy ink, and any residual carbon blown bills and Tel 914.333.0555 • Auto dealerships hold a sale of European paintings footprint has been offset. Fax 914.333.0556 • Media and communication on April 23, including a rare work coupons for free booze and grub New Jersey • Banking by former English Prime Minister 399 Thornall Street • Food and dairy Sir Winston Churchill. Few people Not your will be theirs for Edison, NJ 08837 • Health care know the statesman was an the grabbing. Any- Tel 732.549.2800 • Financial services usual taters one who bellies Fax 732.549.2898 amateur painter, but his art has • Professional services been fetching record prices lately. isn’t it just like new yorkers up to the bar or a www.weiserLLP.com • Not-for-Profit Malcolm Walker, European to eat caviar and truffles while the table will get a paintings specialist at Bonhams, recession looms.Totally Baked, a chance to enter For more information, contact Douglas Phillips at 212.375.6701. expects the piece to sell for more new gourmet potato bar in the booth or win a than $600,000. “It was a real coup Chelsea, has sold so many $55 $500 prize.

to get this work,” he says. truffle-stuffed potatoes in the two buck ennis

6 | Crain’s New York Business | April 14, 2008 Project5 3/6/08 5:04 PM Page 1

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CNYB 04-14-08 A 8 4/11/2008 7:03 PM Page 1

more in the supermarket to try to For others, drink is the answer. make their money go further. Grist- “People spend more on alcohol Recession good news for some edes owner and potential 2009 may- when times get tough,” says Frank oral candidate John Catsimatidis Badillo, senior economist for con- Continued from Page 1 Wall Street layoffs, which could to- “People will look to stretch the says business is already up, though sulting firm TNS Retail Forward. ners Consumer Sentiment Index, a tal 30,000 by year’s end,has also been dollar further,” says Ira Steinberg, he would not quantify the rise. At Bar Sepia in Prospect Heights, survey of more than 7,400 con- a boon to executive-job Web sites.In vice president of Jack’s, a 99-cent Downturns also help auto repair Brooklyn, owner Delissa Reynolds sumers. March, eFinancialCareers’ résumé store on West 32nd Street. “We can shops,as consumers hold off on pur- says customers have packed into her “People are going to be trading database grew at a rate double that of be helpful with that.” Lisa Lackey, chasing new cars. “Our business bar not only for the drink, but also down,”says Fred Crawford,manag- a year earlier. Unique visitors to the an owner of Kappy-Cua Video in thrives in a recession,” says Dave for a sense of community. ing director at AlixPart- site were up 63% in the Washington Heights, says more Sorbaro, owner of Mavis Discount To be sure, if the recession is ners. “The value players RECESSION first two months of the customers are renting popular tele- Tire. “When somebody’s not buy- deep, even the winners’ gains could are the ones who will do year.At TheLadders,a site vision shows like The Wire and The ing a new car,to spend $500 or $600 be wiped out. Customers who opt well.” WATCH for professionals earning Sopranos and forgoing costly cable on your current car seems cheap.” for supermarkets over restaurants Career adviser Roy $100,000 and more, job service. Plus, she says, spending $4 could start trading down within Cohen’s phone has been ringing seeker sign-ups increased 112% in for a video during these tough times Gas prices a factor those grocery stores. A $30 bottle of steadily, with employees from Bear the first quarter of 2008 over the pre- is a lot easier for a family to stomach new car sales plummeted last olive oil could turn into a $10 one. Stearns, Citibank and Merrill ceding quarter. Member page views than $50 at a movie theater. month, but Mr. Sorbaro says the Already, stores in neighborhoods Lynch on the other end of the line were up 20%. The city’s supermarkets are ex- current slowdown could come with such as Jamaica, Queens, which seeking advice. pecting gains. “From past experi- a twist for repair shops. High fuel have been hard hit by foreclosures, “Whenever there’s unresolved Costco, BJ’s get a boost ence, what happens is we tend to do prices may drive cars off the road, are feeling a pinch. Sales at World fear in an organization, you have consumers looking for bargains well when people cut back,” says muting the benefits of a recession. Wide 99-Cent on Jamaica Avenue employees who are nervous,” he helped boost March sales at Costco Howie Glickberg,owner of Fairway For those who are just too have been sliced in half since Janu- says. “One way to address that ner- Wholesale Corp. stores open at least Markets. Though he’s yet to see a stressed out by the economy, there’s ary, says owner Debbie Lachman. vousness is to take some initiative a year by 7%,with strong gains in deli, major upswing in sales, Steve always exercise or alcohol. Fitness And rising rents and operating costs and control so you feel you’re in the produce, bakery and frozen foods. D’Agostino, director of operations Clubs have seen an uptick in busi- could offset any gains. driver’s seat.” Same-store sales at BJ’s Wholesale for D’Agostino Supermarkets, says ness from those looking to sweat The possibility of widespread Club were up 6% in March. people will eat out less and spend their way out of the swoon. COMMENTS? [email protected]

El shock jock returns to NYC HISPANIC STATIONS ON A ROLL MAINSTREAM BROADCASTERS are struggling to grow amid falling ratings and Continued from Page 1 think Spanish radio was cool.” fall. WCAA was 14th in February, an economic downturn. But Hispanic radio and television stations are finally advertisers leaped to 3.8%, from The popular host is also bringing up from 21st. on the rise. 0.4%, in the fall ratings survey. in ad dollars. “[WCAA] is more competitive “We are outpacing the general market,” says Jackie Bird, chief executive of El Vacilón, meanwhile, has fallen Though the New York market in the morning, no doubt about it,” ad agency WingLatino and chairwoman of the Association of Hispanic to fourth place, with a 4.2 share, was down an estimated 5% to 6% in says Frank Flores, WSKQ’s general Advertising Agencies. “And there continues to be a big opportunity for down from 6.9 and the No. 1 spot in the first quarter,WCAA’s ad revenue manager. “But it’s not a situation increased development.” the fall. grew “well into the double digits,”ac- like,after two trend reports,this guy Local Hispanic television stations like WXTV and WNJU are the biggest Assuming that the official winter cording to Gary Stone, chief operat- has taken our audience. If anything, winners. In New York, where local television ad revenue was flat for the first ratings show similar results when ing officer of Univision Radio. he’s grown the audience.” quarter, billings for Hispanic TV stations have jumped 9%, according to an they’re released later this month, Still, Mr. Flores acknowledges industry insider. Advertisers waking up WCAA will finally be a player in that ad revenue at WSKQ was down Those dollars are coming from both national advertisers and local New York after years in which it gar- some of that money is coming 6% in the first quarter. He says that businesses eager to reach the growing Latino population. nered negligible ratings and modest from WSKQ, Mr. Stone adds, but the highly rated station gets more “Three years ago, we had fewer than five car dealers on the air,” says revenues. Media giant Univision some is from advertisers that are in- general market advertising than Ramon Pineda, general manager of Univision’s WXTV Channel 41. “Today we Communications Inc. took over the creasing their investment in Span- most Hispanic stations and so is have more than 30.” station when it bought Hispanic ish-language radio. feeling the ad crunch in line with the Hispanic radio is also outpacing the market. Broadcasting Corp. in 2002. “There are so many advertisers rest of the marketplace. Nationally, ad revenue for Hispanic stations is forecast to grow 6% in waking up to the Hispanic market,” Mr. Jimenez, who’s heard in nine Media buyers say that if WSKQ 2008, to $1.2 billion, compared with 2% to 3% in the general market, markets through syndication, says he says. hasn’t been hurt yet by WCAA’s according to SNL Kagan. that his show is expanding the WCAA still has a long way to go surge, it will be soon. In New York, where the radio marketplace was down about 6% in the first Spanish-language radio audience in before it’s in the same league as “[WCAA] is going to start reap- New York. WSKQ, which billed $35 million in ing the benefits now,” says Tricia quarter, Univision Radio Chief Operating Officer Gary Stone says all three of “We’re reaching people who oth- 2007, according to BIA Financial Pickering, senior media buyer at the company’s stations—WCAA-FM, WADO-AM and WQBU-FM—were up by erwise wouldn’t be listening to Network. WCAA took in $9 mil- Carat USA, who adds that WSKQ double digits. Spanish radio,” says the host, who lion. and its sister Spanish-language sta- WSKQ-FM’s sister station, WPAT-FM, is also up 1% to 2%, says General left WSKQ in late 2006 over a con- WSKQ is still formidable in rat- tion,WPAT-FM,can’t help but feel Manager Frank Flores. He’s concerned, however, that more money isn’t going tract dispute with parent company ings for the whole day. Among lis- the pain. “The economy is so bad, to Hispanic radio. “We’re still dealing with the scraps,” he says. Spanish Broadcasting System. teners 12 years old and older,the sta- stations are extremely competitive.” No. 1 station WLTW-FM billed $63 million in 2007, according to BIA “We’re bringing in second- and tion was tied for third place in Financial Network, almost double second-place WSKQ’s revenue. third-generation Latinos who didn’t February, down from second in the COMMENTS? [email protected]

zonMP3 through TuneCore. Fans can download tracks for free or pay Musical acts turn to digital startups $5 for a higher-quality version of the entire album, which the band says Continued from Page 2 36 million users. It makes money through the Internet,” says Steve they need. For a $38 fee, the service has already racked up about $1.6 like Music Nation—a kind of online through advertising and from fees Greenberg, chief executive of S- will prep a music file into the right million in sales. battle of the bands (Crain’s, Dec. 17, paid by content owners, which in- Curve and Nabbr, which he format to sell it at online stores, in- The alternative works particu- 2007)—or social networks to gain clude record companies and artists. cluding iTunes and AmazonMP3. larly well for less commercial proj- traction has its limits when millions The upstart exposes bands to con- Folk guitarist William Fitzsim- ects. For example, Nine Inch Nails of songs are competing for attention sumers through video links, or Nabbr has a mons, who had a song featured on frontman Trent Reznor produced on iTunes. Eventually, artists hop- widgets, embedded on more than Grey’s Anatomy, decided to use an album for poet-rapper Saul ing to become more commercial 200 social networking sites. potential TuneCore a year ago because it lets Williams on Fader Label. It was could need the promotional muscle him keep his master recordings and made available for download direct- and money of big labels. No radio, no problem market of 36 all the money his music generates. ly from Mr. Williams’ Web site at “The [digital] system works best that’s how pop-punk band We the “It feels fairer this way,” Mr. prices that fans selected on the basis for indies to get something started,” Kings, which released its debut al- million users Fitzsimmons says. of the MP3 file’s quality.The record says Jon Cohen, co-founder of Cor- bum last fall on S-Curve Records, sold more than 50,000 versions for nerstone, owner of Fader Label, hit the top 20 on iTunes, No. 3 on Cutting out the middleman $5 each and generated 160,000 free which promotes and sells records Billboard’s Top Heatseeker’s chart established acts such as Nine downloads, creating buzz that led to digitally. and No. 151 on Billboard’s Top 200 Inch Nails are also flocking to an advertising deal with Nike. But it goes both ways, and big la- album chart this year—all without a launched two years ago. TuneCore to cut out the middle “We really expanded Saul’s fan bels looking to rock online are also single spin on radio. For acts that choose to avoid la- man. Last month, the industrial base,” Mr. Cohen says. turning to firms like Nabbr, which “We laid the groundwork and bels—and keep all their revenue— rock group delivered its new instru- has a potential market of more than generated all the excitement upstart TuneCore provides what mental album, Ghosts I-IV, to Ama- COMMENTS? [email protected]

8 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 9 4/11/2008 3:00 PM Page 1

PATERSON VS. THE CONTENDERS NY voters like Paterson but want options Whom would you vote for in a gubernatorial race? Continued from Page 1 lines, easily eclipses Mr. Bloomberg lican leaders hope that he will re- fied, modest profile—in contrast to Michael Bloomberg 44% Gov. Eliot Spitzer on March 17 be- in a theoretical Republican primary, consider. his tenure as federal housing secre- cause of a prostitution scandal. 55% to 35%. However, he wouldn’t In a Democratic primary con- tary, when he was accused of self- David Paterson 41% Media coverage of Mr. Pater- do as well as Mr. Bloomberg in a test, Mr. Paterson is preferred over aggrandizement.The tack seems to David Paterson 47% son’s extramarital affairs and his general election matchup against Mr. Cuomo, 41% to 34%, with a be working. drug use in the 1970s dominated his Mr. Paterson. quarter of Democratic voters unde- “Cuomo’s favorable ratings are Rudy Giuliani 41% first week in office, yet has had no “It indicates that Bloomberg has cided between the two. very good,” Mr. Green says. “He’s David Paterson great effect on his public image. In- a lot of support from Democrats and shot nothing but net since he’s come 41% deed, 53% of respondents say the independents,” says political strate- Cuomo’s big gains into office.” Andrew Cuomo 34% media went too far in reporting on gist Bill Green. overall, the poll reflects well on The same cannot be said for Mr. Source: Charney Research the new governor’s personal life, Mr. Bloomberg is no longer a Mr. Cuomo, who is viewed favor- Paterson. With high-profile rivals compared with 40% who say the registered Republican and could run ably by 65% of voters and unfavor- looming, the rookie governor must coverage was justified. as an independent. His spokesman ably by just 22%. In his first term make a strong impression on New tive name identification,” says Mr. “A majority of New Yorkers are says the mayor has no interest in after succeeding Mr. Spitzer as the Yorkers. Lendler.“Nobody knows who he is.” disturbed that the press reported on leading the state after his term ex- state’s chief law enforcement offi- “The challenge he has is to build Paterson’s affairs,” says Craig Char- pires at the end of 2009,but Repub- cer, Mr. Cuomo has kept a digni- on his good will and build his posi- [email protected] ney,president of Charney Research. “The public feels politicians deserve a zone of privacy—63% think there are circumstances where the press should not report about a politician’s extramarital affairs.” EMCOR is Here, in the World’s Most Competitive Market. But that does not hold true when elected officials hire hookers. “Sev- From ﬁ nance to fashion, New York is the international proving ground for every kind of business. enty percent think that should be re- EMCOR delivers world-class facility services—everything from electrical and mechanical construction ported if the politician campaigned against prostitution,as Spitzer had,” to mobile services to transportation and energy infrastructure—to help these businesses win. notes Mr. Charney. Still scandal-free in his seventh year as mayor, Mr. Bloomberg en- joys broad support statewide, the poll shows—even though it was conducted during the height of his In Crain’s poll, a healthy 67% of those surveryed view Bloomberg favorably

controversial and unsuccessful push for congestion pricing in Manhat- tan. A healthy 67% view him favorably,compared to just 19% who have an unfavorable opinion. In a hypo- thetical gubernatorial election, the mayor is preferred over Mr. Pater- son, 44% to 41%. Highest negative rating mr. giuliani, his star faded in the EMCOR in Greater New York City. Always on. wake of a $60 million presidential campaign that yielded but a single delegate, would not fare as well in a face-off with Mr. Paterson, losing FOREST ELECTRIC WELSBACH ELECTRIC OF L.I. 47% to 41%. The former mayor has Salvatore Caputo, President & CEO Joseph P. Florio, President & CEO the most intensely negative rating of Electrical Services Electrical Services the public figures in the poll: Near- ly one in five has a “very unfavor- WELSBACH ELECTRIC EMCOR SERVICES NEW YORK/NEW JERSEY able” opinion of him. The same Keith D. Carney, President & CEO Frank Cooney, President number view him “somewhat”unfa- Electrical Services Mobile Services vorably. “If I were Rudy Giuliani,I’d keep PENGUIN AIR CONDITIONING EMCOR FACILITIES SERVICES my day job,” says Mr. Lendler. “His Daniel P. Dubin, President & CEO Paul Asmar, Vice President positives are the same as Paterson Mechanical Services Site-based Facilities Services [57%], but his unfavorable [rating] is at 37%. I think his day is done.” HERITAGE MECHANICAL EMCOR ENERGY SERVICES Others see a hazier picture. Jeff Porrello, President & CEO Art Strenkert, President “All of the races are very open,” says Mr. Charney. Mechanical Services Energy Services He considers the poll numbers to be encouraging for Mr. Pater- son, given the governor’s short tenure and rocky debut.“David Pa- CALL: 866.890.7794 (US & Canada) EMAIL: [email protected] VISIT: www.emcorgroupny.com terson emerges as more than a placeholder.” HOW CAN OUR SOLUTIONS HELP YOU? Mr.Giuliani,whose own personal indiscretions have made head-

| | NYPeop_CrainsNY_Jr_3_31.indd 1 April 14, 2008 Crain’s New3/7/08 York 8:04:13 Business AM 9 Process CyanProcess MagentaProcess YellowProcess Black CNYB 04-14-08 A 10 4/11/2008 1:43 PM Page 1

day credit for an outage experienced by more City taking tougher stand than 20 people for four hours—are inadequate. Mr.Thompson’s proposal also recommends with cable TV providers creating an independent arbitration system to help cable providers and companies this summer.The agree- collected $103 million in fees in the programmers resolve Cablevision, Time ments are expected to be in place last fiscal year—consumers continue disputes over access. Warner expected this fall. Discussions will revolve to pay high bills for spotty service. Such disputes left base- MICHAEL MAX around three major issues:improved Earlier this year, hundreds of people ball fans irate in 2002, KNOBBE of BronxNet to make concessions customer service, a better way to attended public hearings hosted by when Yankees games says public access deal with programming blackouts, DoITT to voice their concerns. weren’t carried on Ca- channels haven’t gotten enough funding. BY AMANDA FUNG and more financial support for pub- According to DoITT, 1,253 blevision for an entire lic access channels. Time Warner customers filed com- season, and again in buck ennis for more than a decade,New plaints to the city during the past 2005, when some Mets games and federal laws.” Yorkers have had to put up with in- More bargaining power eight months,up 15% over the same weren’t shown on Time Warner. The city’s five community access adequate cable TV service—occa- because they were the sole period a year ago. Complaints groups will also be pushing for more sional outages, poor customer serv- providers of cable TV in their mar- against Cablevision rose 12%, to Small number of complaints financial support. The nonprofit ice and delayed repairs. kets, the cable companies had little 281, during the same period. “there is not much pressure on groups, which were established to Now that the 10-year franchise to fear from the city during past To address these complaints, last cable companies to work out dis- run the public access channels, say agreements with New York’s two franchise negotiations. But with month city Comptroller William putes quickly,” says Chuck Bell, di- demand for their media training major cable companies,Time Warn- Verizon’s push into markets served Thompson unveiled a Cable Con- rector of advocacy programs at Con- classes and production studios has er Cable and Cablevision Systems by Time Warner and Cablevision, sumer Bill of Rights, which would sumers Union. “It results in fewer skyrocketed, although funding has Corp.,are up for renewal,the city and city officials may find they have hold cable companies more ac- options for viewers.” remained flat.According to DoITT, its 1.7 million cable TV subscribers more bargaining power. countable.The bill of rights calls for Time Warner has said the number the public access channels collec- have an opportunity to demand bet- “Alternative TV service [such as a number of strict provisions,such as of complaints against it is small,com- tively received $8 million from the ter service. And this time around, Verizon] has empowered local gov- requiring cable firms to follow up pared with the 1.1 million subscribers cable companies over the past 10 with Verizon Communications Inc. ernments,” says Gerard Lederer, within 30 days to ensure customers’ it has in Manhattan, Staten Island, years. also negotiating to offer TV service counsel at Miller & Van Eaton, a problems are solved. It would also Queens and portions of Brooklyn. “The revenue we have experi- in the New York market, the city Washington, D.C.-based law firm require a breakdown of monthly ca- Cablevision, which has about enced has not met the rate of infla- should have more leverage in gaining that specializes in the telecom and ble bills to disclose fees for program- 600,000 subscribers in the Bronx tion,” says Michael Max Knobbe, concessions from the cable giants. cable TV market. “They can force ming and system management. and parts of Brooklyn, claims that executive director of BronxNet, the The city’s Department of Infor- cable companies to meet their needs According to Tony Avella, D- many of the provisions in the pro- nonprofit that operates that bor- mation Technology and Telecom- and interests.” Queens, chair of zoning and fran- posed bill of rights “are already cov- ough’s public access channels. munications will start negotiating While the city has benefited from chising for the City Council,current ered under our existing franchise new agreements with the cable cable companies’ growth—the city penalties for outages—like a one- agreement with the city, or by state COMMENTS? [email protected]

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10 | Crain’s New York Business | April 14, 2008 Project2 4/7/08 11:23 AM Page 1

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VIEWPOINT A new Harlem renaissance editor in chief Rance Crain publisher Jill R. Kaplan

he city council could vote as early as this that will be forced out. And they say that too little affordable EDITORIAL week on a proposal to rezone 125th Street, housing will be created in a community already pressured by editor Greg David deputy managing editors Valerie Block, and one number should guide members’ rising real estate prices. Erik Ipsen debate: $27,600, the best estimate of the In fact, many small retailers will thrive by adjusting to a assistant managing editor Robert Hordt median household income in Harlem. better-heeled customer base. Some businesses will disappear contributing editor–reports What’s crucial about the number is that it as development occurs, but that process is likely to last a Elizabeth MacBride columnist Alair Townsend is 40% less than the median household decade, and many of them would close anyway. Only a large senior reporters Aaron Elstein, Erik Engquist, income for the city as a whole. number of market-rate residential units can support Lisa Fickenscher, Matthew Flamm, Samantha Marshall, Miriam Kreinin Souccar The plan for 125th Street is designed to encourage the affordable housing. reporters Theresa Agovino, Barbara Benson, T Elisabeth Butler Cordova, Amanda Fung, kind of development that will increase that figure—directly, The more important point is that Harlem lags the rest of Daniel Massey, Hilary Potkewitz, Gale Scott, by bringing better jobs to the community; and indirectly, by the city precisely Matthew Sollars providing housing to attract higher-income people, who in because the restaurant critic Bob Lape Its median art director Steven Krupinski turn boost economic activity. neighborhood’s deputy art directors Carolyn McClain, income is 40% Daniel Mednick The idea is simple: Create a business hub. Office towers, politicians and staff photographer Buck Ennis some up to 20 stories, would be built on top of retail space residents rejected copy desk chief Wendy Zuckerman less than the copy editors Michele Arboit, occupied by stores and restaurants. Developers could outside investment for Thaddeus Rutkowski increase the size of their buildings if they rent to galleries city’s as a whole so long. Remember the research editor Denise Southwood associate research editor and other art-related operations—ensuring the expansion of long, bitter fight to Adrianne Pasquarelli an already vibrant cultural center. Some 2,000 market-rate bring a supermarket www.crainsnewyork.com condominiums could be built. with quality goods at online reporter Kira Bindrim While seeking to remake the street, Planning lower prices to the area? EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 Commission Chairman Amanda Burden has taken great Only with new money can Harlem catch up. editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 pains to preserve as much of the thoroughfare’s character as The council always insists on making changes before it Cable craincom nyk possible. Up to 450 affordable housing units will be built ratifies land-use plans, and compromise is possible here. But Fax 212.210.0499 Entire contents ©copyright 2008 Crain through the Bloomberg administration’s inclusionary bonus. members must understand that any major revisions will Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP For vocal opponents, this is all unwanted gentrification come at the expense of the economic gains the rezoning was Inc., used under license agreement.

that will damage 125th Street’s historic position as the center designed to generate. TO SUBSCRIBE: of an important African-American community.They Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. identify 70 small businesses employing about 1,000 people COMMENTS? [email protected] www.crainsnewyork.com

ADVERTISING AND MARKETING advertising director Jeff Adler senior account managers LETTERS TO THE EDITOR Robert N. Grossman, William E. Squitieri account executives Andrew Carlin, Robert Christiaanse, Irene Irvill, Courtney McCombs western account manager Ellen Mazen (Los Angeles) 323.370.2477 Brooklyn Law School aid falls short sales manager, classified print & online John Gallagher newsletter product manager GRAD ASSISTANCE whole of the American economy. green-brained project was nothing Catherine Evans Gittens LESS THAN CLAIMED marjorie geiger more than a “Soak the poor and sales coordinator, print & online middle class” tax scheme. Lulé Haznedari as a graduating student at j. wright sales coordinator Anita Perrino POLL COMMENTS credit Pat Grondziak 313.446.6082 Brooklyn Law School committed marketing director Amy Crossman to working on behalf of under- BULLIES OFTEN get their HOW ABOUT MORE taxi stands? How marketing manager Jill H. Bottomley served communities, loan repay- comeuppance (see Crain’s online about truck deliveries done in off- marketing coordinator Jenny Mashberg ment assistance programs are of poll, Page 13).The mayor knows hours? How about forcing more circulation manager Andrea Richardson assistant circulation manager utmost importance to me. I was what’s best for us, and anyone who carpooling versus single-occupant Rosalie Ford disappointed to read the assertions dares stand in his way will be run commuters? How about stopping general manager, interactive in the March 31 Crain’s that over. Fortunately, there are a few trucks from double- and triple- Marc Minardo Brooklyn Law School guarantees a folks in Albany with more grit parking when making deliveries? $5,000 stipend for public interest than the City Council. How about banning horse-drawn NEW YORK PRODUCTION summer internships and as much h.john howard c. harris carriages on city streets during the production and pre-press director column, “Unions’ benefits, business week’s rush hours? How Michael Corsi as $7,000 per year in loan advertising production manager forgiveness for five years. taxpayers’ dime,’’ claims that the YOU CAN’T hold your constituents about forcing car manufacturers to Marilyn DeMilta These statements are mislead- current benefits provided to hostage. You want to tax someone? accept hybrid cars? ing.The $5,000 stipend is guaran- public servants are no longer How about big business, Mr. frank apac PUBLISHED BY CRAIN COMMUNICATIONS INC. chairman Keith E. Crain teed through a federal work-study affordable. Mayor? president Rance Crain program (not Brooklyn Law Instead of criticizing public sondae carpenter SHELDON SILVER has stabbed his secretary Merrilee Crain School), and the loan forgiveness servants receiving, in some cases, constituents and the people of treasurer Mary Kay Crain applies only to graduates working benefits that extend into GOOD RIDDANCE. This so-called New York City in the back. Again. executive vp, operations William Morrow at nonprofit organizations, not in retirement, we as a society would traffic-reducing, asthma-reducing, scott powell senior vp, group publisher Gloria Scoby group vp, technology, circulation, government service, where the be advocating similar coverage for manufacturing Robert C. Adams majority of Brooklyn Law’s public all citizens. vice president/production & service alumni are employed. How ironic that the same manufacturing David Kamis beth baltimore edition contains a story about the WHAT’S COMING UP IN CRAIN’S? chief information officer Paul Dalpiaz Brooklyn Law School ’08 lavish benefits and perks provided corporate circulation director Patrick Sheposh to corporate senior executives. Wealthy Top Education New Yorkers banks, special G.D. Crain Jr. UNION BENEFITS: There isn’t an editorial suggesting founder (1885-1973) A MODEL FOR ALL that there be a re-evaluation of report top thrifts report chairman Mrs. G.D. Crain Jr. (1911-1996) these benefits in the light of April 21 April 21 April 28 alair townsend’s March 31 corporate decisions that impact the

12 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 13 4/10/2008 8:41 PM Page 1

tatives of good-government groups couldn’t agree more. The governor rejected the Spitzer formula that state spending should be allowed to grow at the same rate as personal income, suggesting that even growing at the rate of inflation during a time of economic weakness is irresponsible. Music to my ears! So it was shocking when he agreed to a budget that raises outlays by 4.5% and taxes and fees by $1.5 billion and that includes $170 million in pork-barrel spending for legislators and $1.1 billion in unspeci- fied capital projects. It also gives the teachers union a wet, sloppy kiss by limiting the ability of school officials to use student test results in tenure decisions. I expected the results of this year’s budget negotiations to be ugly and counterproductive. It’s an election year for legislators, which john h.john howard means they were more likely to raise taxes to support reckless spending that will appease key constituencies www.amper-pc.com and to ignore reforms proposed by One-time budget the governor. But they reached new lows with this one. It is a poor start for Mr.Paterson, pass for new guv who seemed to have little impact.In fairness, he inherited Mr. Spitzer’s admit it. I’m a sucker for people with good memories, budget and had little time to refor- who can spout details from some reserve of buried brain mulate it to his liking. The new governor asserted that treasure.On that score alone,I was dazzled by Gov.David over the next year he will meet “eye- Paterson’s speech last week to the Association for a Bet- ball to eyeball” with every member ter New York. He gave an address that lasted about 35 of the Legislature to discuss fiscal minutes—as usual, not using notes. policy and practices as well as the I need for change. More impressive still was his command of a startling array of I’ll give the governor a partial facts, such as New York City’s growth between 1820 and 1840 pass on the budget this time but from now on will hold him account- compared with that for economic climate so able—for the budget and the many other cities on the East- that people have jobs other issues demanding reform. ern Seaboard. and can take care of Mr. Paterson saw firsthand that But it was the mes- themselves and their steamroller tactics don’t work. His sage itself that was the families, and so that ABNY speech seemed to be the most striking thing young people don’t have opening salvo in a campaign de- about the talk. After- to leave the state to find signed to enlist public, business and ward, I remarked to one opportunity. media support for a constructive of Gov. George Pataki’s Taxes are too high agenda. former top aides that here, driven by spend- But one speech does not a cru- Mr. Paterson sounded ing that is out of con- sade make. He has a big task ahead like Mr. Pataki. No, he ALAIR trol, Mr. Paterson said. of him to bring Albany’s perform- said, he sounded like a TOWNSEND He cited specific ance more in line with his uplift- governor. programs that he con- ing words. And he did. He siders wasteful, such as talked about the No. 1 priority for a Economic Opportunity Zones and COMMENTS? state leader: creating a hospitable Star—School Tax Relief.Represen- [email protected]

CRAIN’S ONLINE POLL WHO IS TO BLAME FOR CONGESTION PRICING’S FAILURE? MORE THAN HALF of the 451 respondents Assembly Speaker Sheldon

point the finger at Sheldon Silver, saying Silver. He killed the plan by not . his failure to take congestion pricing to a 54% Nobody. The taking it to a plan deserved

vote . vote killed it. But 16% say the mayor’s 27% to die

campaign for the proposal wasn’t effective, and 3% say the newly installed 3% . Mayor Michael Gov. David . 16% Bloomberg. Clumsy governor failed to take the lead. Still, 27% Paterson. The explanation and of respondents say no one should be newbie wasn’t promotion didn’t ready to lead carry the day blamed; the plan was bad to begin with.

For readers’ comments, see Letters to the Editor on Page 12.

April 14, 2008 | Crain’s New York Business | 13 CNYB 04-14-08 A 14 4/11/2008 2:43 PM Page 1

of the National Federation of Independent Business, praises Gov. David Paterson for improving what THE FINISH LINE Do not pass go THE INSIDER was handed to him. THE DEATH of the mayor’s congestion pricing plan has reordered the winners New York’s problem, however, and losers in the long debate, and some who were winners after the City by Erik Engquist and Matthew Sollars isn’t with generating revenue but Council voted in favor of the proposal late last month now find themselves with spending, Mr. Elmendorf with egg on their faces. says.The final budget “still spends more than we ought to and more WINNERS than we have.” Assemblyman Richard Brodsky argued vociferously against Business tax hikes congestion pricing from the outset and eclipsed former Councilman Walter McCaffrey as chief spokesman for the hit $500 million Reform report opposition. could be empty Bruno City Councilman David Weprin, a critic of congestion fees, oliticians in Albany are trailed the mayor and soaked up airtime in his wake. downplaying the impact of nyu’s Brennan Center for Justice has begun research for an update to Senate Majority Leader Joseph Bruno maintained his support Pnew taxes on business in the its report on reforming state for the proposal to the end—thereby ensuring future campaign budget adopted last week. Business government. But after the collapse contributions from the mayor—but never had to subject his groups tell a much different story. of crusader Eliot Spitzer and his vulnerable Long Island members to a controversial vote. Kathryn Wylde, president of the reform agenda, there might not be Weiner Rep. Anthony Weiner opposed congestion pricing and can now much point. offer his own traffic plan in his 2009 mayoral campaign. Partnership for New York City, says the “Unfortunately, I don’t think actual cost to businesses from this budget is close to $500 anything has changed since the LOSERS Larry Norden million and will hamper the city’s growth. 2006 report,” says , Mayor Michael Bloomberg invested great political capital to get counsel at the Center’s Democracy a plan through the City Council and will have to live up to deals “The cost of growing in New York is high, and during an Program. He says the budget he made with fence-sitting members. economic downturn, marginal cost increases can make a big process is back to three men in a difference in business investment and job location decisions,” room, and he condemns the City Council Speaker Christine Quinn wrangled a dramatic vote Ms. Wylde says. practice of not bringing bills—like for the pricing proposal and faces angry members, who are Bloomberg congestion pricing—to a vote if complaining that she hung them out to dry. The budget includes “loophole some counts.They killed the they might not pass. Assembly Speaker Sheldon Silver failed to bring the plan to a closures” aimed at banks and credit “millionaire’s tax” proposed by vote, reinforcing Albany’s reputation as undemocratic. card companies that provide for Assembly Democrats, a fee hike on higher taxes even in years in which cell phone service proposed by WFP priorities: Lobbyist Patricia Lynch was paid tens of thousands of dollars Eliot Spitzer on the strength of her influence with Mr. Silver but failed to losses are reported; and an former Gov. and a taxes, taxes Silver “Amazon sales tax” to be collected suggestion to tax premiums deliver his backing.

on all online transactions.The charged by for-profit HMOs. candidates’ positions on two tax bloomberg news; news daily from weiner photo governor’s office estimates that Ms. Wylde does praise some proposals top the Working Families these provisions combined will parts of the budget, particularly the Party’s criteria to determine whom increasing income taxes for those haven’t materialized because tax generate revenue of roughly $150 expansion of the film production to support this year, according to earning $250,000 or more. revenues were higher than million. Another $70 million was tax credit to 30% and the the endorsement questionnaire it WFP says the questionnaire— expected, but that doesn’t appear added to the covered lives investment tax credit renewal, released last week. Legislative shorter than last year’s but still likely to happen this time. assessment charged to for-profit which she says will help the candidates are asked if they favor more than 20 pages—is crucial And persuading term-limited health insurers. financial services industry recover. capping property taxes based on when local chapters make members not to spend everything Business groups succeeded on Michael Elmendorf, state director income and if they support endorsements. on the table will take effort.The Bloomberg administration has taken its own steps, cutting agency Safe but humbling budgets 4.3% for fiscal 2009.The option for Quinn effects of an extra 3% cut are being Equal Opportunity Lender evaluated. the recent funding scandal dealt a blow to City Council Speaker Christine Quinn’s mayoral GUV-O-METER At Atlantic Bank... aspirations, but insiders suggest a fallback plan: Run for Manhattan THE SCORECARD Experience comes with borough president instead— HOT in Albany reads a price. Zero. Zip. Zilch. assuming that incumbent Scott Legislature 1, Stringer vacates the post to run for David Paterson public advocate. 0 after the It takes sincere dedication to your craft to gain real experience. At Atlantic The borough presidency served Bank, our team of professionals is passionate about what they do. Over accidental as a springboard for David Dinkins’ governor caved to time, that passion has paid off in experience. And now, you benefit from successful mayoral run in 1989, spendthrift that experience...at zero cost. For all your business banking needs, visit whereas the last two speakers— lawmakers in his Gifford Miller and Peter Vallone Sr.— a branch today. Our combination of service, convenience, and a first state budget. bombed in their mayoral complete line of financial products can help ensure the ultimate success Upon agreeing of your business. campaigns. Ms. Quinn would probably be to the deal—which hikes spending • Avoid Checking Account Fees • Financing Options the favorite in a Manhattan-only 4.9%, to $121.7 • EARN Premium Money Market Rates • Telephone Banking race, but Baruch political science Doug Muzzio billion, in the face • Free Internet Banking* • Plus, much more! professor says a mayoral bid is more likely.“The natural NOT of a recession— • No Application Fees progression is to move up to Mr. Paterson said citywide from speaker,” he says. “I he put aside his concerns about For additional information call: 1.800.535.2269 • www.abny.com think the Manhattan borough the opaque process so that it presidency is probably not on her didn’t drag far beyond the March *For your online security, information provided will be verified by the Bank. Once the verification process is radar screen and is not likely to be.” 31 deadline. “This was a decision complete, your Free Online Banking and Bill Payment Account will be activated and ready for your use. No I made and take responsibility for,” monthly service charges apply. A separate fee applies for optional services such as Money HQ®. Please talk to a he said. “I wanted branch representative or ask for our fee schedule for more details. Old tricks won’t fix to get this new budget woes budget passed as soon as insiders say that forging the next possible.” He city budget will be particularly promised to challenging.The City Council will take a Your partner for success be asked to make sacrifices in fiscal stronger stand 2009 to reduce a large deficit Nineteen convenient locations • Brooklyn • Manhattan • Queens • Westchester next year. anticipated for the following year.

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14 | Crain’s New York Business | April 14, 2008 Project2 3/19/08 6:46 PM Page 1

I found Aetna NYC Community a doctor who Plan speaks my language.

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200873 CNYB 04-14-08 A 16 4/11/2008 10:51 AM Page 1

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

history. Officials seized $6 million ECONOMIC SPOTLIGHT worth of fake stamps, which would have been put on cigarette boxes. Music to your nose island def jam Music Group and Procter & Gamble announced the formation of hip-hop record label TAG Records, tied to P&G’s TAG brand of men’s deodorant and personal care products.The label will be headed by music mogul Jermaine Dupri, who is also president of Island Urban Music. Nymexers plead guilty to fraud in exchange for a five-month landov prison sentence and $850,000 in fines and penalties, former New CBS cutting Couric? York Mercantile Exchange board member Steven Kavellas pleaded FOLLOWING TWO YEARS of low ratings, CBS NEWS reportedly guilty to defrauding customers and is considering dropping Evening News anchor KATIE COURIC tampering with evidence.Three before her contract expires in 2011. Ms. Couric, whose others involved in fraudulent trading also pleaded guilty, and $75 million contract started in 2006, could be ousted as three more will go on trial. soon as next year, as CBS tries to cut costs, improve ratings Economy Watch and compete for election coverage. CBS said it has no plans AOL gets sporty The 12-month rise in area prices in February was the lowest in 4 months. The to change the broadcast or its host. time warner inc.’s AOL an- big drop in NYC’s jobless rate may mean that many people called off job hunts. nounced an agreement to include JANUARY ’08 FEBRUARY ’08 COMPARISON ESPN segments on AOL Video NY area inflation change +0.2% +0.5% +3.6%1 president and publisher of its and Sports, marking the first time Nielsen picking up high-end lifestyle magazine, WSJ., the sports network has placed video 2 NYC unemployment rate 6.1% 4.4% 4.8% IAG Research scheduled to launch Sept. 6. Ms. content on an outside portal. Offer- NYC employment change n/a +2,300 +47,1003 Asmodeo-Giglio will oversee all ings will include a shortened ver- 1-Inflation rate for the latest 12-month period. 2-U.S. unemployment rate. 3-Change for the the nielsen co. agreed to pay advertising and marketing sion of SportsCenter and segments latest 12-month period. n/a Not available. $225 million to acquire IAG initiatives for the magazine, which from other original programs. Research, a firm that measures recently appointed editor Tina consumers’ engagement with tele- Gaudoin dubbed “the authority on Lawsuit over pay vision programs, commercials and modern wealth.” NYC Hotel Stats Broadway Stats product placements. Nielsen will finally following through on Average occupancy and room rate Attendance and gross dipped in the finance the transaction through a threat she has voiced many times, rose in February, PKF Consulting week ended 4/6, says The League of issued notes, existing facilities and MySpace gets New York state’s chief judge, says. Year-to-date averages also rose American Theatres and Producers. cash on hand.The deal is slated to Hispanic flavor Judith Kaye, filed a lawsuit on for both measures, with this year’s re- For the season to date, attendance close in the second quarter. behalf of the state’s 1,250 judges sults—78.3% and $263.89—topping and gross were respectively 2.9% news corp.’s MySpace officially seeking a pay raise. Legislators 2007’s levels of 76.1% and $241.71. and 4.1% below year-earlier levels. Project runaway launched MySpace Latino, a have refused to act on an increase bilingual version of the social for judges until they themselves nbc universal filed a breach-of- networking site geared to U.S. receive a pay hike. New York contract Hispanics. MySpace Latino, judges rank 49th in the country in lawsuit against which went live in beta form last compensation, and their pay has The Weinstein year, features communities been frozen since 1999. Co., producer focused on music, sports and of Project celebrities. Initial media partners Runway include ImpreMedia, Spanish JetBlue founder (right), for Broadcasting System, Billboard taking off signing a deal en Español and Remezcla.com. to move the show from NBC- jetblue airways corp.said owned Bravo to Lifetime.The suit founder David Neeleman (below) claims NBCU and Weinstein had Citigroup nears will leave the discount carrier’s been negotiating for more than a $12B loan sale board of directors to focus on his year over exclusive rights to new airline venture in Brazil. Mr. additional seasons of the show. citigroup inc. Chief Executive Neeleman will step down as Capital IQ’s Weekly Deals Report Vikram Pandit reportedly plans to chairman after JetBlue’s May 15 Pfizer fallout sell loans worth $12 billion at a loss annual meeting. TRANSACTION SIZE to Apollo Management, Blackstone —from staff reports and COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE pfizer inc. reported an increase in Group and TPG Inc.The loans bloomberg news reports KeySpan-Ravenswood $2,900.0 TransCanada Corp. SB M&A lung cancer cases among individ- are part of $43 billion in financing Long Island City, Queens uals who use its discontinued that Citigroup agreed to provide Del Pharmaceuticals Inc. $380.0 Church & Dwight Co. SB M&A inhaled insulin, Exubera.The for leveraged buyouts last year. Uniondale, L.I. announcement prompted Nektar Anthracite Capital$93.5 CSFB Inc. Private TherapeuticsEquityGCI Inc., Pfizer’s former Manhattan Exubera partner, to halt further Police stamp out Debt Resolve Inc. $7.0 Harmonie International GCI development of the drug. White Plains counterfeiters National Holdings Corp. $3.0 St. Cloud Capital GCI new york police busted a Manhattan WSJ. magazine counterfeit-cigarette operation Selected deals announced during the week of March 30 for companies headquartered in metro that they said could have netted New York. GCI: Growth capital investment represents new money invested in a company for a names publisher minority stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of millions in illegal cigarette sales, existing shares of a company without the participation of a financial buyer. the wall street journal marking the largest seizure of paul grange paul named Ellen Asmodeo-Giglio vice counterfeit tax stamps in the state’s bloomberg news

16 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 17 4/10/2008 6:49 PM Page 1

REAL ESTATE DEALS Dressed-up SoHo address draws new tenants

the Upper East Side. The São rings of hand-cut stones in several ping area because “it’s an elegant negotiated on behalf of the land- Multimillion-dollar Paulo-based designer recent- luxury stores, including Bar- neighborhood.” lord, Alexico Group. renovation lures ly signed a 10-year deal for neys New York. His epon- Jack Vartanian is slated to open —elisabeth butler cordova 600 square feet of space ymous New York City by September,before the next Fash- Dolce & Gabbana, at 996 Madison Ave.,be- shop will be the first U.S. ion Week in New York. architect Callison tween East 76th and location to offer the entire Alex Cesar, a broker at Eychner Computer firm’s East 77th streets. collection. Associates Inc.who represented Mr. calculated move The asking rent for “We want to present Vartanian in the deal, is searching he $20 million renova- the space, which is part the whole mood of the for a location in Los Angeles. The in a cost-cutting move, Sumisho tion under way at 148 of The Mark Hotel,was brand,” Mr. Vartanian designer also wants to open a store Computer Systems will relocate Lafayette St. is paying off. $1,000 a square foot. remarks, adding that he in Miami. from the 30th floor to the 25th floor Two new tenants signed Mr. Vartanian sells his chose a spot on the Upper East Sal Ferrigno and Beth Rosen of of 600 Third Ave., reducing its office leases for a total of rings, bracelets, necklaces and ear- Side rather than in a trendier shop- Robert K. Futterman & Associates See COMPUTER FIRM on Page18 T74,000 square feet at the building, between Howard and Grand streets ADVERTISEMENT in SoHo. Dolce & Gabbana,which inked a 15-year lease for 50,000 square feet, plans to move its offices and showroom onto floors six through nine in the fall. The asking rent was $62 a square foot.The luxury goods mak- PLAY SMART, er is now located at 532 Broadway. Scott Gerber, president of Ger- ber Real Estate Advisors,represent- PLAY SAFE ed the tenant. He says that Dolce & Gabbana is impressed with the renovation, which includes a new lobby, elevators, windows and floors. The overhaul also attracted architecture firm Callison, which signed ESRB rating of AO, for “adults only,” are simply not allowed on Xbox. We encourage parents to talk with their kids about the rules of game play. To aid in these discussions, we created a parent-child contract called PACT. It helps families reach agreement on the level of Parental involvement; the amount of Access children can have, including who they are allowed to play and interact with online; the types of Content children are allowed to play or watch; and the amount of Time children can use media. (PACT can be downloaded at no cost via ideo games are an increasingly rich and multi- the URL below.) Vfaceted form of interactive entertainment We have joined with organizations such as the enjoyed by millions of adults as well as young National PTA and Boys and Girls Clubs of America to people today. Many parents are understandably con- help educate parents about safe and age-appropriate cerned, however, about children being exposed to gaming. We have partnered also with retailers such 148 LAFAYETTE: 2 tenants take 74,000 sq. ft. inappropriate content in some games. A few games as Best Buy and Wal-Mart to ensure that age rat- are particularly troubling because they let players ings of games are clearly explained and consistently a 10-year deal for the 10th and 11th pretend at violent and antisocial behavior. observed in stores. floors—a total of 24,000 square feet. We at Microsoft agree that not all games are While we recognize the value of freedom of expres- The asking rent was $65 a square appropriate for all ages. We are committed to pro- sion for game developers and publishers, we also foot, according to Alex Chudnoff, a viding technology and tools that help ensure safe, actively support the right and responsibility of parents broker at Cushman & Wakefield, who represented the firm with col- age-appropriate gaming experiences. to make educated choices about interactive entertain- league Robert Gallucci. For example, Xbox was the !rst gaming platform Callison, which has been re- to offer built-in parental controls. These user- tained as the design consultant for friendly Family Settings allow parents to set limits— Technology and tools empower parents to the retail and hotel components of different ones for each child—on access to games, choose interactive entertainment that is the World Trade Center redevelopment, is now located in about movies and TV content. A new Family Timer feature right for their families. 10,000 square feet at 100 Fifth Ave. even lets parents put overall limits on how long kids The firm has expanded to 60 profes- can play. sionals from 15 over the past year,so Xbox Live allows parents to manage their chil- ment for their children. Informed and equipped with it requires additional space, accord- dren’s online communication and the people they the tools they need, parents are the !rst and best ing to Gabriel Hernandez, a Calli- play with online. Easy-to-use parental controls are lines of defense for ensuring that kids are engaged in son principal. The firm plans to move in August. incorporated into Windows Vista, as well. safe and age-appropriate play. Newmark Knight Frank brokers These controls support the leading game rat- We are committed to providing parents, teenagers, Robert Silver and Neil Rubin repre- ings systems in use around the world, including schools and others with the information and the tools. sented the building’s owner, Louis the Entertainment Software Rating Board (ESRB) And we are committed to developing interactive enter- Dreyfus Property Group. system used in the United States. Games with an tainment that is healthy and fun for the whole family. —theresa agovino Jeweler rings up first U.S. location Learn more at microsoft.com/issues © 2008 Microsoft Corporation brazilian jeweler Jack Vartanian plans to open his first U.S. store on

April 14, 2008 | Crain’s New York Business | 17 CNYB 04-14-08 A 18 4/10/2008 6:51 PM Page 1

DEALS THE WEEKS AHEAD

THIS WEEK’S EVENTS APRIL 16 estate market. 11:30 a.m. to 1:30 p.m., APRIL 15 Human Resources Association of New New York Helmsley Hotel, 212 E. 42nd Computer firm’smove Crain’s New York Business holds York holds breakfast program and St. Fee: $65 members, $130 networking breakfast and program with annual legal update. 8 a.m. to 10 a.m., nonmembers. (212) 944-9445. Anthony Coscia, chairman of the Port Club 101, 101 Park Ave. Fee: $55 Continued from Page 17 locate Innovative Fashion Group to Authority. 8 a.m. to 9:30 a.m., Hilton members, $75 nonmembers, $35 APRIL 21-27 New York, 1335 Sixth Ave. Fee: $70. students. (877) 625-HRNY. APRIL 22 space by almost half. The computer 10,500 square feet on the 22nd floor APRIL 16 services company inked a 10-year of 1400 Broadway, at West 38th (212) 210-0739 or Japan Society holds conference on East www.crainsnewyork.com/events. Networking for Professionals holds Asian multilateralism and prospects for lease for roughly 6,700 Street. The asking rent APRIL 15 networking reception. 6:30 p.m. to 8:30 regional stability. 6 p.m. to 8:30 p.m., square feet at the build- was $55 a square foot. Lower Manhattan Business Solutions p.m., Techspace, 41 E. 11th St., 333 E. 47th St. Fee: free for members, ing, which is between Even as landlords Center holds workshop on business legal 11th floor. Fee: $25 members and $35 $15 nonmembers. (212) 715-1247. East 39th and East 40th continue to convert structures. 3 p.m. to 5 p.m., 110 William nonmembers in advance; $40 at door. APRIL 22 streets. Sumisho is now showroom space for oth- St., fourth-floor conference room. Free. (212) 227-6556 or Institute of Management Accountants, leasing about 12,200 er professional uses,1400 (212) 618-8947 or [email protected]. [email protected]. New York City chapter, holds dinner on square feet. Broadway’s landlord, APRIL 15 APRIL 16 the Bank Secrecy Act. 5:30 p.m. to The asking rent was W&H Properties, has SCORE New York City holds seminar Charney Research holds seminar on 8 p.m., Arno’s Ristorante, 141 W. 38th on business plans. 10:15 a.m. to 1 p.m., conducting successful market research St. Fee: $40 members, $45 nonmembers, $75 a square foot on the been trying to attract tra- Science, Industry & Business Library, on immigrants. 6 p.m. to 7:30 p.m., $25 students. (347) 643-6185 or 25th floor,compared with ditional apparel tenants, 188 Madison Ave., lower level. Fee: $45 1133 Broadway, room 1321. Free. [email protected]. $85 a square foot on the such as Adjmi.One part in advance; $55 at door. (212) 264-4507 (212) 929-6933 or APRIL 22 30th floor, according to of its effort: an $81 mil- or [email protected]. [email protected]. Empire General Abstract holds seminar real estate sources. lion renovation of the APRIL 16 APRIL 16 on tax deferred exchanges in today’s Caribbean Business Network holds SalemGlobal Internet Website market. 6 p.m. to 7:45 p.m., Banco Sumisho, which plans HEIR APPAREL: building’s lobby, win- IFG networking reception. 7 p.m. to 9 p.m., Marketing holds networking reception. Popular, 441 Second Ave. Free. to move over the summer, moves to 1400 Broadway. dows and common areas. was represented by Zev “We are embracing Anne Blue Convention Center, 4714 8 a.m. to 10 a.m., UBS Conference (631) 470-1440 or [email protected]. APRIL 23 Holzman of The Stau- the apparel industry and Church Ave., Brooklyn. Free. Center, 1285 Sixth Ave., 14th floor. Fee: (917) 293-3984 or $20. (212) 993-5828 or American Book Producers Association bach Co. Landlord L&L Holding making a long-term commitment [email protected]. [email protected]. holds luncheon for book packagers and Co. represented itself. to the showroom tenants,” says APRIL 16 APRIL 16-MAY 7 publishers. 12:30 p.m. to 2 p.m., La —theresa agovino Michael Frantz,a Newmark Knight New York Society of Association Enterprise Center at the Fashion Petite Auberge, 116 Lexington Ave. Fee: Frank broker who worked with Bri- Executives holds conference on Institute of Technology holds course on $38 members, $48 nonmembers. an Waterman to represent W&H technology. 8:30 a.m. to 3 p.m., setting a path for your business. (212) 645-2368 or [email protected]. Apparel group in the deal. Affinia Manhattan, 371 Seventh Wednesdays, 6:15 p.m. to 9:30 p.m., —adrianne pasquarelli shifts showroom Marc Kritzer and Michael Yad- Ave. Fee: $195 members, $225 Seventh Avenue at West 27th Street, gard of Millennium Realty Group nonmembers. (212) 206-8230 or seminar room 7. Fee: $140. [email protected]. (212) 217-7250 or [email protected]. TO LIST YOUR EVENT clothier Adjmi Apparel Group is negotiated on behalf of the tenant. APRIL 18 moving one of its divisions to new IFG will relocate this summer Listings can be submitted only through the Crain’s More meetings online at Institute of Real Estate Management, Web site. Go to www.crainsnewyork.com and click digs in the garment district. from its current showroom at 1372 www.crainsnewyork.com greater New York chapter, holds lunch on “Events.” Sponsors have a choice of several free The Manhattan-based company Broadway. Click on “Events” on the impact of a financial services or paid listing options. All business events will be recently signed a 10-year deal to re- —elisabeth butler cordova downturn on the New York City real posted online within two business days.

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18 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 19 4/10/2008 4:54 PM Page 1

SMALL BUSINESS INSIDE HOW-TO Making sure an insurance policy has things covered PAGE 24 “I wasted two years going to every wedding show I could find.” —Julie Goldman, Original Runners Co., Page 23

Shortage AMIR LEVIN designed a widget that can turn every chair into a throne fit of CPAs for a child, and in the process he turned a simple idea into an squeezes international sales firms phenomenon.

Small companies must pay more for accountants; software fills gaps

BY TINA TRASTER

small is anything but beau- tiful for accountants these days. Surging demand in recent years has spurred many to leave rela- tively low-paid posts at small companies and certified public accountant firms for larger ones. Miron Building Supply is an example. The 40-year-old Brooklyn business, with 150 employees,had been paying the accounting manager in its 10- person finance department about $45,000. But when the position became vacant last year, Miron couldn’t attract any takers. To remain competitive, the company bumped up the salary 15%, or $7,000. Miron got what it needed— sort of. “I’m paying more money for less talent,” says Chief Finan- cial Officer John Grein.“There are not enough people out there to fill these jobs.” Accountants trace the shortage back to 2002, when

Congress passed the Sarbanes- buck ennis Oxley Act to crack down on corporate fraud in the wake of JANUARY Enron’s collapse. To ensure BY CARA S. TRAGER their compliance with the law, 2005 A TIME LINE of one year ago, 32-year-old Amir Levin Kaboost’s rise, plus the large companies and account- Chronicle inventor’s résumé and ing firms have had to dramati- walked away from a trade show in Orlando, an expert’s opinion cally expand their staffs. Well- Fla., with orders from some of the nation’s ➠ Pages 20 and 21 positioned businesses have largest retailers for a product he had yet to been poaching professionals produce—and had conceived of only 18 months earlier. from small organizations by of- of a quick As of today,Mr. Levin has shipped thousands of his spring-loaded devices that fering pay increases of 25% to fit onto chair legs, raising the seat enough to allow children to reach the table. Sold 50%, enhanced benefits and, under the name Kaboost—also the name of the company—they are available at commonly, signing bonuses stores around the globe for between $30 and $40. that can range from $5,000 to Mr. Levin stands as a prime example of how entrepreneurs can succeed spec- $25,000. success tacularly in a short time by using everything from overseas factories to Web-based “Sarbanes-Oxley has really searches for key resources and information. crushed smaller companies,” As the son of a wealthy Atlanta real estate developer,Mr.Levin was able to self- says Robert Fligel, president of finance his company. That, plus a gregarious nature and huge circle of contacts, RF Resources, a CPA recruiter. Start with a good idea, add helped him move faster than most fledgling entrepreneurs. But the path he took is Though experts think the one that will appeal to many aspiring entrepreneurs. worst of the squeeze could be cash, good connections What follows are some important milestones along a route that led to a com- over—or at least slowing—be- pany with offices overlooking Union Square and expected revenues of more than See SQUEEZED on Page 22 and drive, and watch out $1 million. See TIME LINE on Page 20

April 14, 2008 | Crain’s New York Business | 19 CNYB 04-14-08 A 20 4/10/2008 5:59 PM Page 1

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In less than two years, Amir Levin crafted JANUARY 2005 PROTOTYPE an international success story by following JANUARY 2006 a route other entrepreneurs could use, too FRIENDS SUPPLY LEVIN with names of three industrial designers, including Queens-based Joseph Gasparino. He not only has good ideas, but he also quotes a fee at a fraction of the IDEA “astronomical $50,000” price others have quoted. NOVEMBER 2005 “I saw the potential immediately and got excited about it,” says Mr. Gasparino. While Mr. Gasparino works on a prototype, Levin seeks reassurance that they’re AFTER WEEKS OF CASTING ABOUT for a hot idea he could turn on the right track. He cold-calls a large juvenile chain and asks for the buyer of into a successful business, former real estate broker Amir booster chairs. Incredibly, the buyer answers her own phone and listens to his idea. Levin makes a key discovery. At a big family dinner, he They arrange a meeting for the following month. notices that his cousin’s young children sit on their knees “That’s when the sweat and the sleepless nights really started,” says Levin. on full-size chairs at the table instead of in booster seats. Sensing real potential, Levin lines up a patent attorney. He pays $800 for a “They want to be like their mothers, fathers, sisters and provisional patent, which will protect his idea for a year. brothers,” he concludes. His instincts tell him there’s a need for a product that makes kids feel grown-up buck ennis at the table. He surfs the Web and finds high chairs and booster seats with and ➠ without straps, but nothing more. FOCUS GROUP

Levin begins sketching devices that can easily be clamped on a chair’s legs. He MARCH 2006 tells friends he’s looking for a good product designer. JANUARY ➠ A FRIEND who works in the marketing department at ad giant Publicis assembles 2006 more than half a dozen mothers for a focus group in Levin’s apartment. Levin shows them traditional booster seats and then

➠ brings out a prototype of his chair booster. The mothers are BUYER FEEDBACK ➠ FEBRUARY 2006 enthusiastic. Some say that they might buy more than one booster—one for their home and one for Grandma’s—if the LEVIN MEETS with the department store buyer, price were low enough.

who advises him that his product should be safe, “The moms’ response gave me the green light to

well-tested—and look it. Levin interprets this as a ➠ continue to develop the product ,” says Levin. mandate to give the item a weightier appearance. The buyer also advises Levin that the product istock would sell best in the $20 to $30 range. istock ➠ FACTORIES JUNE 2006

NAMING LEVIN FLIES TO CHINA to check out five manufacturers AUGUST 2006 ➠ recommended by old and new contacts, including a high school buddy who produces sports figurines. LEVIN BOMBARDS friends with possible names, including Someone he met in a movie theater queue Boost-A-Chair and Upsy Daisy. He leans toward something recommended a cousin who works as a sourcing agent in China. All five outfits that doesn’t sound generic but still hints at the “product agree to look over the prototype and give him price estimates. category.” He free-associates with the word “kaboom,” “The trip took 10 days, four flights and many miles on the road, as I traveled from a process that leads him to Kaboost. Friends give the name JANUARY the north to the south in China,” says Levin. the thumbs-up.

2007 istock buck ennis

TRADE SHOW PACKAGING

OCTOBER 2006

APRIL 2007 ➠ ➠ ACTING on the advice of another friend, Levin contracts with Studio Dror, near Times IN PREPARATION for his appearance at the huge Juvenile Products Square. Dror agrees to design Kaboost’s Web site and graphics as Manufacturers Association show in Orlando, Fla., Levin sends well as innovative packaging—a hexagonal box with a plastic postcards about Kaboost to 1,000 retailers. Several trade handle that gives it a suitcase look. publications run stories on the product. ➠ “We wanted to make the box as small and as unique as Even though the first Kaboost won’t ship until August, Levin possible, so that the shape pops out on the retail shelf,” says

leaves the three-day show with firm orders from 50 retailers,

Levin. He shows the box, graphics and text to the juvenile including Albee Baby and Baby Jungle—both in New York. Two sales rep ➠ chain buyer. She gives everything a thumbs-up but organizations, one domestic and one overseas, agree to market the line. recommends showing Kaboost in family settings. “I approached him because I thought the product was a very clever idea,” says ➠ Vicki Teman, whose eponymous New York firm sells to specialty stores. buck ennis MASS PRODUCTION SHOWTIME MAY 2007 JANUARY JULY 2007 LEVIN quickly e-mails the factory near Shanghai that he LEVIN APPEARS on Donny Deutsch’s Big Idea. 2008 has hired and orders an initial run of 6,000 units in “Afterward, a lot of entrepreneurs, who had not been able three different colors.

to develop their product, e-mailed me to ask my advice,” says istock

Levin. Days later, Levin hires his first employee, Peri Schaeffer—a former business ➠ SALES manager at a tour company—as director of operations. Her responsibilities include oversight of the order-fulfillment company in California that Kaboost will use. SEPTEMBER 2007 CREATIVE KIDSTUFF in Minneapolis sells the first Kaboost. By November 2007, the product is also available in 18 countries. A month later, it is on the shelves at 150 retailers across the United States, including all 260 DEMOS Babies “R” Us stores. OCTOBER 2007 istock TO HELP CONSUMERS understand Kaboost, Levin partners with some stores, buying chairs to show how the product works. Later, he supplies all stores with a OUTLOOK product-demonstration video. APRIL 2008 “It’s a new product, and he’s going out to the stores AFTER POURING a total of more than $125,000 of his own to show how it works and how it can be sampled,” says money into product development alone, Levin expects his Mary Jo Schoenfeld, senior vice president of JANUARY company to rack up sales of more than $1 million this merchandising at Right Start in California. year. He expects to break even by the end of the year.

2009 istock

20 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 21 4/10/2008 4:57 PM Page 1

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AMIR LEVIN IN BRIEF Born 1975 in Tampa, Fla. Education B.B.A. from University of Georgia, 1996 M.B.A. from Bar Ilan University, Israel, 1999 Work experience Commercial real estate sales for family firm in Atlanta and New York as well as for an international firm in Madrid, 2000-05 Challenge “To get people to understand Kaboost” Knew he’d made it when Babies “R” Us and Target placed orders Five-year plan Develop a company with multiple products in juvenile market Hobbies Pre-Kaboost, played squash three times a week; now plays only twice a year buck ennis JOSEPH GASPARINO, product designer PRODUCT DESIGNER JOSEPH GASPARINO has a soft spot in his heart for startups. When Amir Levin asked him to transform the barest outlines of a concept into a three-dimensional, child-safe product, the designer agreed to charge half the rate he applies to brand-name clients. “I know what it’s like to go out on your own and take a real chance,” says Mr. Gasparino, who expects his four-year-old firm to generate as much as $200,000 in revenues this year. His designs range from consumer electronics for Samsung and housewares for Bed Bath & Beyond to teakettles and flatware for a foundry in Holland. Working with entrepreneurs, though, gives him a special thrill. “A lot of people like Amir have never gone through the developmental process before, and I take their thumbnail napkin sketch and bring it to life,” says Mr. Gasparino, whose one-man studio is in Long Island City, Queens. He is now working with Mr. Levin on developing more products under the Kaboost label.

EXPERT WEIGHS IN ON AMIR EDWARD ROGOFF, academic director of the Lawrence N. Field Center for Entrepreneurship and Small Business at Baruch College Amir Levin’s drive is typical of many fledgling entrepreneurs. What sets him apart are his financial resources, immense web of contacts and plain beginner’s luck. “Most ideas go nowhere,” says Mr. Rogoff. “They go to a bank for a loan and get turned down.” Where Mr. Levin got truly lucky, though, was in getting free guidance from a large juvenile products retailer. “Usually, you can’t even get buyers to return calls,” says Mr. Rogoff. All these factors combined to put a product on the shelves in record- breaking time—just 21 months after the birth of the idea. “Usually, it takes five years from idea to market,” he notes.

April 14, 2008 | Crain’s New York Business | 21 CNYB 04-14-08 A 22 4/10/2008 5:00 PM Page 1

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ENTERING FIGURES Squeezed by shortage of CPAs Job offers in New York City for graduates with a bachelor’s degree in accounting.

Year Number of offers Average salary Continued from Page 19 Others are using recruiters and entBurst Inc.,Resources Global Pro- cause corporations have become in- swallowing their contingency fees, fessionals and Outsource Partners 2007 89 $54,522 creasingly adept at Sarbanes-Oxley which average 25% of a first-year International. Such firms can pro- compliance,it might take a while for vide full-time,off-site services or can 2006 116 $52,286 salary. small businesses to feel any relief. “We’ve seen a 20% increase in be hired on a project basis. 2005 122 $50,725 In addition to paying more for our business since Sarbanes-Oxley TalentBurst, for example, sends talent, local owners have been legislation took effect,” says Frank routine accounting chores to its of- 2004 156 $49,224 forced to look further afield. Some Fusaro, president of Forum Group, fices in India or the Philippines, 2003 119 $46,887 are turning to job sites like Mon- a recruiter. billing clients $15 to $45 an hour, ster.com and CareerBuilder.com to depending on the expertise re- 2002 77 $46,974 reach out to CPAs in markets—in- Outsourcing burst quired. Doing the same work local- Source: Salary Survey, National Association of Colleges and Employers cluding the South and Midwest— others are outsourcing account- ly would cost $24 to $100 an hour. where prevailing salaries are lower. ing functions to companies like Tal- To help contain costs,more owners are using accounting software programs like Quicken and Quick- Books. Basic software programs that track cash disbursements and receipts, and provide a trial balance and general ledger, generally cost between $100 and $150. Additionally, small firms can My relationship manager outsource payroll processing to services like ADP and Paychex for as little as $50 a month. gets my business. Some businesses are taking those Bread-and- My mother? Not so much. butter jobs don’t offer enough of an incentive

steps with the full blessing of their outside accountants. “Accountants have gotten back to the work of professional accounting, for which they are reaping the rewards,” says George Foundotos, CPA and professor of accounting at Dowling College in Long Island. “Meanwhile, they’re pushing the low-level,menial drudgery to book- keepers or urging clients to use technology,” Mr. Foundotos says. The talent drain has hit many small accounting outfits even hard- er than it has their small business clients. Scott Hunter “Over the past five years, we’ve plastics distributor lost about 10% of our staff to larger New York, NY companies that are paying between 15% and 25% more for the same job,”says George Victor,a partner at Holtz Rubenstein Reminick. The firm, with offices in New York City and Long Island, has a professional staff of 165. Upping the ante holtz rubenstein has been giving double-digit annual salary increases for the past three years—and has When was the last time your bank asked you had to raise client fees accordingly. In an effort to conserve scarcer em- the right questions about your business? ployee resources, it has also had to Working with countless businesses across 83 countries and territories1 has jettison less profitable accounts. given us a unique perspective. Our relationship managers know that only “Accountants are looking at 10% after we understand your business’s DNA, can we help you improve its ROI. annual raises,” says Marc Newman, Visit a branch to talk to a relationship manager or call 1-866-427-2104 to ﬁ nd executive partner with Anchin out more about HSBC’s Business Banking solutions. us.hsbc.com/business Block & Anchin.“And sometimes,” he adds, “even those raises are not enough to attract accountants to bread-and-butter jobs at small companies, because the jobs are just not as glamorous.” 1. HSBC Group. Products in the United States offered by HSBC Bank USA, N.A. or HSBC National Bank USA. Both banks are Member FDIC. ©2008 HSBC Bank USA, N.A. COMMENTS? [email protected]

22 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 23 4/10/2008 5:56 PM Page 1

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Designer creates variety of hits with heavy metal HITS & MISSES obert ferraroni started his own technology. He has also carved out niches by using metalworking business fresh out of Pratt exotic materials, including titanium and synthetic Strategies pursued by small manufacturers RInstitute 17 years ago. Since then, his resins popular in high-end residential projects. company, unlike many other art-based businesses, In 2000 he brought in a partner, Jeff Kahn, a by Lisa Goff has flourished. He attributes the success of Ferra photographer and sculptor. He brought with him Designs to hard work, a good business plan and a fresh contacts in the interior design and artist willingness to make whatever the market requires. communities, which complemented Mr. Ferraroni’s “My advice is don’t specialize—do it all,” says Mr. client base of architects. Runner-maker races ahead Ferraroni. Brooklyn-based Ferra Designs makes everything MISSES ocial worker Julie from giant metal outdoor sculptures and one-of-a- Payments never materialized Goldman wanted everything kind residential railings to commercial awnings and mr. ferraroni poured his life savings, $50,000, into in her wedding to be showcases for retailers including Barneys New York renovating an art studio in Williamsburg in 1995, S and Calvin Klein. only to have his landlord sell it out from under him. perfect—including the aisle Mr. Ferraroni and partner Jeff Kahn employ 10 “He told me he had never realized how much runners. “But the only runners people at their Navy Yard studio. Revenues for 2008 potential the place had until I did all that work,” says available were made of very are projected to be $5 million. Mr. Ferraroni, who relocated to a 10,000-square-foot cheap, white, gauzy paper,” she space in the Brooklyn Navy Yard. HITS He says his biggest business says. Instead, she made her own Beyond blacksmithing mistake, though, has been “being by fusing fabric to a no-slip mr. ferraroni’s first love is nice.” He learned a lesson from backing and dappling it with blacksmithing. But when clients making too many preliminary hand-painted leaves. asked for other things, he drawings that didn’t end in branched out into mirror-polished contracts, and getting stiffed too Soon Ms. Goldman was stainless steel and bronze and many times for work he’d already deluged with requests from brides traded his forge for computerized installed. He now puts his faith in who had seen her wedding pictures. In 2003, she started design and water-jet cutting fee lists and payment schedules. Original Runners Co. in her Upper West Side apartment. Since then, she has sold more than 10,000 runners, which range from $135 for a solid color to $5,000 for the Yellow Brick Road,

encrusted with crystals. Clients “Now, you’d need a couple range from brides to corporate million dollars to open a company event planners. like this,” says Mr. Guido. The company boasts seven In the early days, Foro Marble Co. employees at its garment center made marble tops for antique tables office. Revenues are expected to as well as fireplace surrounds. jump to over $1 million this year. Today, 32 employees at the Park Slope factory use high-tech water- HITS jet cutting machines to turn out Media exposure helps marble and synthetic stone lifetime tv spotted the company countertops. Clients range from the online in 2003 and tapped Ms. Sherry-Netherland Hotel to Goldman to produce an inscribed Google. Revenues are projected to runner for a wedding on The rise 12% this year, to $4.5 million. Bachelorette. Traffic on the company’s Web site quintupled HITS after the broadcast.The firm’s most Company lands big jobs popular item, the “And they lived in the 1970s, the company landed happily ever after” runner, is now its first big client. A large bank the official one used for weddings hired Foro to make desktops for at Disneyworld. new executives. “Every time an exec Last October, Original Runners got a promotion, was one of the winners of the Make we made him a Mine a Million $ Business, a new marble-top competition co-founded by desk,” says Mr. OPEN, the small business division Guido. Later, the of American Express. company worked for Holiday Inn MISSES and even the Trade shows a waste of time White House, high shipping costs are frustrating where it restored marble fireplaces. Ms. Goldman’s international After the terrorist attacks of expansion dreams. Meanwhile, she Sept. 11, Foro’s revenues plunged has sworn off wedding trade shows. 30%. A $239,000 disaster loan “I wasted two years going to from the U.S. Small Business every wedding show I could find, Administration allowed Foro not getting no business from any of only to make its payroll but also them,” she says. to buy new equipment, including a $50,000 computerized milling machine. Ex-bricklayer “That made us competitive for has all the marbles the high-volume jobs we needed in order to survive,” says Mr. Guido. orty-two years ago, part- time bricklayer Joe Guido MISSES Ftook a job driving a truck for Good ideas didn’t pan out a marble company. Inspired, he and a foray into the wholesale a friend started their own marble business imploded in the recession business in the friend’s Brooklyn of the early 1980s. “After that, we basement.Their most advanced refocused the business on piece of equipment was an fabricating our own products,” says inexpensive electric saw. Mr. Guido.

April 14, 2008 | Crain’s New York Business | 23 CNYB 04-14-08 A 24 4/10/2008 5:03 PM Page 1

REPORT SMALL BUSINESS MIXING IT UP: Heather Bonnefond found that she HOW-TO needed content as well as product liability coverage. The magic words: It’s covered made sure that she had product lia- fully protected,” 7 tips for getting the right insurance bility insurance. says Ms. Bonne- Only recently, however, did she fond, who started But figuring exactly out how discover that she also needed con- her Manhattan- BY TINA TRASTER much and what kind of coverage is tent liability coverage to protect her based business in required—and paying for it—can be from lawsuits arising from claims 2006. urviving in business takes difficult. she makes on her Web site and The guiding more than a good product Heather Bonnefond, president packaging—protection that costs principle: Hope and astute management. It of Matilda’s Kitchen—a maker of a $10,000 a year. for the best but takes solid, reliable insur- flax-seed mix that is sold in about 40 “It’s daunting for a new business protect for the Sance coverage. specialty food stores—has always to get the insurance it needs to be worst.If a business buck ennis doesn’t have proper coverage, one unforeseen or unfortunate incident could put a quick end to years of hard work. Consider these recommenda- tions for building a sound defense against the unexpected. TIP 1 Grab an expert. ask colleagues to suggest an agent with experience in the company’s industry. Familiarity can breed div- idends. Interview a few agents to create a short list. Check references. Have the finalists draw up proposed policies and costs after they survey the firm’s exposure. Then compare and contrast: Are the premiums competitive? Does the recommended insurer have a history of paying claims in a timely fashion?

TIP 2 Check out blankets. a business owner’s policy doesn’t insulate against every risk, but it provides coverage against a variety of basic losses and liabilities—including property-casualty—for less than what is would cost to buy indi- vidual policies. Neater and cheaper isn’t necessarily better, though. “We have a general liability policy, but we add insurance on an as- needed basis,” says Adelaide Fives, managing partner of In Good Com- pany Workplaces,which rents office and work space to women entrepreneurs. For instance, Ms. Fives says she took out one-time-event coverage before accommodating a recent party for 200 people in the company’s

DON’T GET TAKEN A SURPRISING number of insurance scam artists prey on small businesses. Here are some helpful rules to remember: I IF IT SOUNDS too good to be true, it probably is I DRAMATICALLY low premiums are not necessarily bargains I AGENTS who don’t ask any questions before finalizing a policy should be shown the door

24 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 25 4/10/2008 5:06 PM Page 1

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SMALL BUSINESS AWARDS

Manhattan space. SEEKING TOP ENTREPRENEURS IN NYC CRAIN’S NEW YORK BUSINESS seeks nominations for its 13th annual TIP 3 Small Business Awards. The six winners will have distinguished Wear a hard hat. themselves by showing a pattern of growth in their businesses and by D. Arora T. Balsley S. Bendet The Latins J. Siminoff D. Stovall contributing to the quality of life in their communities. e-mailed to [email protected] or faxed to (212) 210-0799. doctors, lawyers and other pro- Firms must be for-profits that have been in business for at least three years. Among last year’s honorees were Stacey Bendet, founder of trendy women’s fessionals must have liability insur- They must employ no more than 150 people, have annual sales of no more than clothier Alice + Olivia; Darryl Stovall Sr., the power behind fast-growing contractor ance. $40 million and be headquartered in New York City. Companies can nominate D&S Electrical; and Thomas Balsley, whose eponymous firm has designed scores Breach-of-contract and negli- themselves or they can be nominated by a business contact. The entry deadline of parks around the country. Other winners included Dhiraj Arora, whose Arora gence suits are two common forms is noon on May 14. Winners will be profiled in the Aug. 11 issue. Creations sells Indian spices in leading grocers nationwide; Ellen and Eric Latin, of professional liability claims, but To nominate a business, send its name, address and a letter detailing the who invested heavily to turn their family’s century-old Dundy Glass & Mirror into a every company has distinct risks. firm’s commercial and civic accomplishments to Crain’s Small Business state-of-the-art outfit; and James Siminoff, a serial entrepreneur whose voice-to- One size doesn’t fit all; every Awards, 711 Third Ave., New York, NY 10017. The Information can also be text company SimulScribe is drawing legions of fans. company faces its own specific set of risks.Consult with industry groups, as well as with the company’s legal team and insurance broker,to calcu- late an adequate and affordable level of coverage.

TIP 4 Play it safe. small manufacturers need to have product liability insurance, but which kind? Most business policies will protect against claims for bodily injury or property damage resulting from use of a product. But they might not provide coverage if a lawsuit seeks damages beyond those pa- rameters. Consult a lawyer to make sure that the company’s liability insurance protects against other kinds of product-related suits.

TIP 5 Account for new risks. words a company uses—not just in ads and brochures,but on its Web site and in e-mail blasts—can now be used against it in court. Businesses need to know that their coverage has been updated to handle these newer forms of risk. Content liability insurance is the best protection.

TIP 6 Don’t settle for too little. business equipment insurance protects against mechanical breakdown, malfunction and theft. Be certain that the policy also covers loss of business income that results from equipment damage. In addition, read the fine print carefully to discover the answers to such vital questions as whether the policy covers loss of data as well as the computer, and whether it covers Business is about offering the best choices. the replacement cost of the equip- ® ment or its actual cash value. SO WHY DOESN’T YOUR BROKER OFFER STATE FARM ?

TIP 7 A broker can’t offer you State Farm® insurance for one simple reason: they don’t provide you with the dedicated Keep an eye on costs. personal service of a State Farm agent. You’ll always have a strong relationship to count on when you need help. This cut expenses and prevent under- higher level of support doesn’t carry a higher price, though–we offer very competitive rates on the particular types or overinsuring by conducting peri- of coverage your business needs. Make the right choice. Call your agent today or visit statefarm.com® odic reviews with an agent. Investigate group rates that are sometimes available through business or professional organizations. Anything that a company can do to manage its risk profile could pay off in the form of lower premiums. Request a risk reassessment if the business has a good track record and has filed few claims. State Farm Fire and Casualty Company • State Farm General Insurance Company • Bloomington, IL • State Farm Florida Insurance Company • Winter Haven, FL • State Farm Lloyds • Dallas, TX

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April 14, 2008 | Crain’s New York Business | 25 Project18 4/9/08 5:34 PM Page 1 CNYB 04-14-08 A 27 4/10/2008 8:20 PM Page 1

NEIGHBORHOOD JOURNAL

“The Forest Avenue BID has Cash giveaway props up Queens shops given the people in the neighborhood the feeling they can walk up the two blocks to do some shopping contrast to the less-polished dollar Similarly, the mall’s food court of- rather than get in their cars,” says Owner of Atlas Park stores and discount retailers on near- fers dining options ranging from Ms. Meeker, who has been hired to creates own stimulus by Metropolitan Avenue, one of downscale family chain Chili’s Grill organize the new district.“And that’s central Queens’commercial arteries. & Bar to more expensive Italian and what Victory wants us to do, too.” package; will traffic On neighborhood blogs and in German restaurants. The idea of shopping locally has community meetings, the mall has —hilary potkewitz gained more traction with residents outlast promotion? been criticized for being out of reach of the Victory Boulevard area as gas for residents of the modest neigh- prices have soared and tolls for the wo years after it borhood that surrounds it. S.I. retailers make bridges that take shoppers to malls opened, a sophisticated “I really hope the businesses BID for Victory in New Jersey have risen to $8. But mall in the heart of there are doing better than I think consumers can also drive just two working-class Glendale, they’re doing,” says Gary Giordano, merchants along Victory Boule- miles down the road to the big-box The Shops at Atlas Park Queens, is struggling to district manager for Queens Com- vard in the Castleton Corners sec- stores at the Staten Island Mall. Tdraw the hordes of shoppers that its munity Board 5,which includes At- tion of Staten Island are banding to- John Duffy, owner of Rose Inte- developers envisioned.To lure more week or so, until he exhausts the las Park. “People tell me that some gether in their long-running fight to riors on Victory Boulevard,says that traffic to The Shops at Atlas Park, $20,000 allotted to the promotion. of those stores are pretty empty.” claw back business from the mall. through the new BID, he and other the owner is offering an incentive: Retail traffic has risen substan- When he went to the mall re- Leading the charge will be a merchants will emphasize the per- cold, hard cash. tially, says Mr. Hemmerdinger, who cently, the most reasonable item he business improvement district that sonal touch they provide—some- Every day since mid-February, declines to give specific numbers. could find at Jos. A. Bank was a pair the retailers hope to launch this year. thing that he thinks is missing at Damon Hemmerdinger has given But it remains to be seen whether of men’s pants on sale for $100. They are modeling it on Staten Is- stores like Home Depot and Lowe’s. away $100 bills to customers who shoppers will keep coming back af- “People are struggling to pay land’s only existing BID, along The 140 businesses along the show up wearing his “I support the ter he puts away his wallet. mortgages and rent, and some of nearby Forest Avenue, which was half-mile strip will likely pay about economy!” stickers, which he is dis- Mr. Hemmerdinger hopes for those stores are too high-priced for us established three years ago. $23 per foot of frontage to cover tributing around the borough. another boost next month, courtesy working folks,” says Mr. Giordano. That effort has been widely BID services. He considers the program his of the federal tax-rebate checks due Mr. Hemmerdinger disagrees. praised for its success in solidifying John Salmon, owner of Salmon own economic stimulus package to to hit consumers’ mailboxes. In the “Frankly, I think a lot of that is Forest Avenue’s status as a central- Realty and a co-chair of the BID’s help bolster consumer confidence meantime, he’ll continue spreading about perception,” he says. “We ized shopping district within walk- steering committee, sees an oppor- and spending.Mr.Hemmerdinger— good will by offering free parking. have no luxury brands.” ing distance for residents. Susan tunity to create a hub with the feel of the son of real estate titan and Met- The Atlas Park mall, with its The Shops at Atlas Park includes Meeker, organizer of the Forest Av- the shopping districts he remembers ropolitan Transportation Authority manicured lawns and fountains, re- 400,000 square feet of retail space, enue BID and executive director of from his youth.Back then,the A&P, Chairman H. Dale Hemmerding- sembles a classic suburban shopping with tenants ranging from the af- the West Brighton Local Develop- the butcher and clothing stores were er—has handed out $14,000.He ex- center. Its whitewashed buildings fordable Aerosoles shoe store to the ment Corp.,thinks the same formu- centrally located. pects the campaign to last another and peaceful walkways stand in sharp more upscale J. Jill apparel shop. la can work on Victory Boulevard. —matthew sollars

Hoboken-isGreen.com Hoboken-is.com

Waterfront Corporate Center III Waterfront Corporate Center III

SJP Properties 973.299.9117 CBRE 201.712.5800 SJP Properties 973.299.9117 CBRE 201.712.5800

April 14, 2008 | Crain’s New York Business | 27 nb15p28_29cls.qxp 4/10/08 1:09 PM Page 28

BUSINESS OPPORTUNITY/EVENTS REAL PUBLIC & LEGAL NOTICES

ESTATE NOTICE OF FORMATION of SYZYGY SOLUTIONS, Notice of Formation of MARJORIE A. LAU, LLC. Articles Of Org. filed with Secy. Of State LLC. Arts. of Org. filed with Secy. of State of CORPORATE HOUSING of N.Y. (SSNY) on 2/04/08. Office location: NY (SSNY) on 2/22/08. Office location: NY New York County. SSNY designated as agent County. SSNY designated as agent of LLC Why Stay in a Hotel? of LLC upon whom process against it may be upon whom process against it may be served. When you can stay in a fully furnished luxury served. SSNY shall mail process to: 48 W SSNY shall mail process to principal business apartment for 1/2 the price. Rent short or 86th St., #2, NY, NY 10024. Principal business location: 15 W. 72nd St., Apt. 9-0, NY, NY long term, NO FEE apartments in doorman location: 48 W 86th St., #2, NY, NY 10024. 10023. Purpose: any lawful activity. Purpose: Any lawful activity. elevator buildings throughout NYC. Studios, 1BR, 2BR—starting from $2,500–$5,000. Notice of Qualification of 835 6th Ave Master Contact Abe or Morris at 212.417.9217 Notice of formation of GG MEDIA LLC. Arts. L.P. Authority filed with NY Dept. of State on of Org. filed with the Secy of State of NY BUSINESS SERVICES ORGANIZATION SERVICES www.furnisheddwellings.com 3/14/08. Name amended to 835 6th Ave (SSNY)on 2/04/08. Office location: New York Master LP. Office location: NY County. LP County. SSNY designated as agent upon Overwhelmed? Got clutter? formed in Delaware (DE) on 3/13/08. NY Secy. whom process against it may be served. of State designated as agent of LP upon Knowledgeable and Helpful Organizers PUBLIC & LEGAL SSNY shall mail process to: c/o the LLC, 91 whom process against it may be served and Confidential service. Tel: (888) 925-8883 Fifth Avenue, 7th Floor, New York, NY 10003. shall mail process to the principal business Email: [email protected] Purpose: all lawful activities. address: c/o J.D. Carlisle Development Corp., NOTICES 352 Park Ave. So., 15th Fl., NY, NY 10010, TELECOMMUNICATIONS Notice of Qualification of 224-232 Atlantic Attn: John LaGratta. DE address of LP: 2711 Notice of Formation of CUSHNIE ET OCHS, Avenue Investor, LLC. Authority filed with Centerville Rd., Ste. 400, Wilmington, DE LLC. Arts. of Org. filed with Secy. of State Secy. of State of N.Y. (SSNY) on 2/8/08. Office 19808. Name/address of genl. ptr. available of NY (SSNY) on 3/5/08. Office location: NY location: NY County. LLC formed in Delaware from NY Secy. of State. Cert. of LP filed with FRANCHISE OPPORTUNITY County. Principal business location: 124 W. (DE) on 10/29/07. SSNY designated as agent DE Secy. of State, Corp. Dept., Loockerman & 36th St., Ste. 501, NY, NY 10018. SSNY of LLC upon whom process against it may be Federal Sts., Dover, DE 19901. Purpose: any designated as agent of LLC upon whom served. SSNY shall mail process to principal lawful activity. CARTRIDGE WORLD EMERGENCY process against it may be served. SSNY business location: The Dermot Company, Inc., Get In Business Fast! shall mail process to: c/o Edmonds & Co., 320 W. 57th St., 5th Fl., NY, NY 10019. DE COMMUNICATIONS NOTICE OF FORMATION of CHATSWORTH Low cost investment • 800 Stores in U.S. P.C., 112 Madison Ave., 3rd Fl., NY, NY address of LLC: c/o Corporation Service Join the world leader in printer cartridge SYSTEMS 10016. Purpose: any lawful activity. Company, 2711 Centerville Road, Wilmington, INDIA DIVERSIFIED FUND 1, LLC. Articles of Organization filed with Secretary of State of refilling. Available in New York City, Staten SPECIALISTS DE 19808. Arts. of Org. filed with DE Secy. of State, 401 Federal St., Ste. 4, Dover, DE NY (SSNY) on 3/12/08. Office location: NY Island, Rockland County & New Jersey Notice of Qualification of Metropolitan Real • FREE PICKUP & Estate Equity Management, LLC, App. for 19901. Purpose: any lawful activity. County. SSNY has been designated as agent CALL NOW • 877-465-1500 DELIVERY Auth. filed Sec'y of State (SSNY) 10/25/04. upon whom process may be served. The Post • 48 HOUR Office location: NY County. LLC org. in DE Notice of Qualification of PlaneTechs, LLC. Office address to which the SSNY shall mail a TURNAROUND 7/18/02. SSNY designated as agent of LLC Authority filed with NY Dept. of State on copy of any process against the LLC served Advertise on ON REPAIRS upon whom process against it may be served. 2/14/08. Office location: NY County. LLC upon him is C/O the LLC, 25 West 31st Street, • FREE ENGRAVING SSNY shall mail copy of process to 535 formed in Nevada (NV) on 12/28/07. NY Secy. 11th floor, New York, NY 10001. Purpose of Madison Ave., 26th Fl., NY, NY 10022, the of State designated as agent of LLC upon • SHORT & LONG whom process against it may be served and LLC: to engage in any lawful activity. Street www.crainsnewyork.com principal office addr. of LLC. Cert. of Form. on address of Principal Business location is: 25 TERM RENTALS file: SSDE, Townsend Bldg., Dover, DE 19901. shall mail process to: c/o CT Corporation Purpose: any lawful activities. System, 111 8th Ave., NY, NY 10011, registered West 31st Street, 11th floor, N.Y., N.Y., 10001. Call John Gallagher agent upon whom process may be served. Principal business address: 1015 A St., P.O. Notice of Qualification of Creative Merchandise 307 Fifth Avenue, NY 10016 Notice of Qualification of GE Healthcare IITS Box 2910, Tacoma, WA 98402. Arts. of Org. Group LLC. Authority filed with Secy. of State LLC. Authority filed with NY Dept. of State on of N.Y. (SSNY) on 3/13/08. Office location: NY @ 212-210-0189 212-532-7400 12/31/07. Office location: NY County. Principal filed with NV Secy. of State, 202 N. Carson www.metrocomradio.com County. LLC formed in Delaware (DE) on business address: 540 W. Northwest Hwy., St., Carson City, NV 89701. Purpose: any lawful activity. 11/20/07. SSNY designated as agent of LLC Barrington, IL 60010. LLC formed in Delaware upon whom process against it may be served. (DE) on 9/13/07. NY Secy. of State designated SSNY shall mail process to: c/o The LLC, Notice of Qualification of Pequot Matawin as agent of LLC upon whom process against 1375 Broadway, 15th Fl., NY, NY 10018. DE REAL ESTATE Fund, L.P. Authority filed with NY Dept. of it may be served and shall mail process to: c/o address of LLC: c/o United Corporate Services, State on 2/29/08. Office location: NY County. CT Corporation System, 111 8th Ave., NY, NY Inc., 874 Walker Road, Ste. C, Dover, DE LP formed in Delaware (DE) on 2/5/08. NY AUCTION 10011, registered agent upon whom process 19904. Arts. of Org. filed with DE Secy. of Secy. of State designated as agent of LP upon may be served. DE address of LLC: 2711 State, Townsend Bldg., Dover, DE 19901. whom process against it may be served and Centerville Rd., Ste. 400, Wilmington, DE Purpose: any lawful activity. 19808. Arts. of Org. filed with DE Secy. of shall mail process to: c/o CT Corporation State, 401 Federal St., Dover, DE 19901. System,111 8th Ave., NY, NY 10011,registered Purpose: all lawful purposes. agent upon whom process may be served. DE Notice of Qualification of Tiger Europe LP, address of LP: c/o The Corporation Trust Co., App. for Auth. filed Sec'y of State (SSNY) 1209 Orange St., Wilmington, DE 19801. 2/27/08. Office location: NY County. LP org. in Notice of Formation of Numbers And Media Name/address of genl. ptr. available from LLC, Art. of Org. filed with the Sect. of State DE 2/26/08. SSNY designated as agent of LP NY Secy. of State. Cert. of LP filed with DE of N.Y. (SSNY) on 12/12/07. Office location: upon whom process against it may be served. Secy. of State, Townsend Bldg., Dover, DE N.Y. Co., SSNY designated as agent of LLC SSNY shall mail copy of process to Attn: 19901. Purpose: any lawful activity. upon whom process against it may be served. Elena Piliptchak, 448 Greenwich St., Apt. 3, SSNY shall mail process to: C/O Numbers NY, NY 10013. DE office addr.: c/o CSC, 2711 And Media LLC, 2266 5th Ave., Suite 136, Notice of Formation of Lombardy 1008, LLC, Art. of Org. filed Sec'y of State (SSNY) Centerville Rd., Wilmington, DE 19808. Cert. New York City 10037. Purpose: Any Lawful of LP on file: SSDE, Townsend Bldg., Dover, Purpose. 3/24/05. Office location: NY County. SSNY designated as agent of LLC upon whom DE 19901. Name/addr. of each gen. ptr. avail. at SSNY. Purpose: any lawful activities. Notice of Formation of JC Sunrise LLC. Arts. process against it may be served. SSNY of Org. filed with NYDept. of State on 3/20/08. shall mail copy of process to c/o Shine & NOTICE OF FORMATION OF 75 East 2 Street Office location: NY County. Secy. of State Company, 9 East 40th St., 6th Fl., NY, NY 10016. Purpose: any lawful activities. LLC. Article of Organization filed with the designated as agent of LLC upon whom Secretary of State of NY(SSNY)on 02/27/2008 process against it may be served and shall Office location NEW YORK County. SSNY has mail process to the principal business address: Notice of Formation of Mangan/Horan LLC. been designated as agent upon whom process c/o Botsaris Realty Group, 358 5th Ave., Arts. of Org. filed with Secy. of State of N.Y. against it may be served. The Post Office NY, NY 10001. Purpose: any lawful activity. (SSNY) on 3/6/08. Office location: NY County. address to which the SSNY shall mail a copy SSNY designated as agent of LLC upon whom of any process against the LLC served upon process against it may be served. SSNY shall him/her is C/O the LLC 182 Grand Street, 3E. Notice of Formation of Z Family Partners mail process to principal business location: LLC. Arts. of Org. filed with NY Dept. of State New York, NY 10013. Date of Dissolution: No The LLC, c/o Mona Mangan, 1025 Fifth Ave., specific date Purpose of LLC: to engage in on 3/18/08. Office location: NY County. Secy. NY, NY 10028. Purpose: any lawful activity. any lawful act or activity. Street address of LUXURY PROPERTIES of State designated as agent of LLC upon Principal Business location is: 182 Grand whom process against it may be served Notice of Formation of 544 UNION OWNER Street, 3E. New York, NY 10013. and shall mail process to the principal LLC. Arts. of Org. filed with Secy. of State of GREENWICH, CONNECTICUT business address: Zeckendorf Realty, L.P., N.Y. (SSNY) on 12/8/06. Office location: NY SIMPLY STACI LLC, a domestic Limited 770 Lexington Ave.,NY, NY 10021, Attn: Arthur County. SSNY designated as agent of LLC Liability Company (LLC) filed with the Sec of Townhome for Sale / Greenwich, CT Zeckendorf. Purpose: any lawful activity. upon whom process against it may be served. State of NY on 3-11-08. NY Office location: SSNY shall mail process to principal business location: The LLC, 70 W. 93rd St., Ste. 100, New York County. SSNY is designated as NEW 2008, 2 Br / 2 full, 2 half bath with Notice of Qualification of 101 West End NY, NY 10025. Purpose: any lawful activity. agent upon whom process against the LLC den, 2,400sf luxury custom home, spacious Affordable GP LLC. Authority filed with NY may be served. SSNY shall mail a copy of riverfront setting with terrace, 1 car garage, Dept. of State on 3/6/08. Office location: NY any process against the LLC served upon County. Principal business address: 9200 E. Notice of Formation of Mary Alice Orito Viking gourmet kitchen, granite counter him/her to Staci Krell, 165 E. 32nd St., NY, NY Panorama Cir., Englewood, CO 80112. LLC Psychotherapy Licensed Clinical Social Work tops, marble floors, tray, coffered and vaulted formed in Delaware (DE) on 2/28/08. NY PLLC, a professional service limited liability 10016. General purposes. 9’ ceilings and more. Minutes to I-95 or Secy. of State designated as agent of LLC company (PLLC). Arts. of Org. filed with Secy. Merritt / Hutchison Parkway, 45 min train upon whom process against it may be served of State of N.Y. (SSNY) on 10/22/07. Office Notice of Formation of DELCAL HOLDINGS and shall mail process to: c/o CT Corporation location: NY County. SSNY designated as LLC. Arts. of Org. filed with NY Dept. of State to New York City, Greenwich beaches, golf System, 111 8th Ave., NY, NY 10011, registered agent of PLLC upon whom process against on 2/22/08. Office location: NY County. Secy. courses and high-end shopping. agent upon whom process may be served. DE it may be served. SSNY shall mail process of State designated as agent of LLC upon Starting at 899,000 USD or 575,400 Euro, address of LLC: 1209 Orange St., Wilmington, to: Corporation Service Company, 2711 whom process against it may be served and DE 19801. Arts. of Org. filed with DE Secy. Centerville Road, Ste. 400, Wilmington, DE shall mail process to the principal business with 30-day occupancy. For private showing of State, 401 Federal St., Dover, DE 19901. 19808. Purpose: practice the profession of address: 140 Franklin St., NY, NY 10013. by owner please call 203-531-8001. Purpose: any lawful activity. Licensed Clinical Social Work. Purpose: any lawful activity.

28 | Crain’s New York Business | April 14, 2008 nb15p28_29cls.qxp 4/10/08 12:17 PM Page 29

PUBLIC & LEGAL NOTICES

Notice of Qualification of Antecip Bioventures Notice of Qualification of 180 Madison LEX34 EQUITIES LLC, a domestic Limited NOTICE OF QUALIFICATION OF Energy Solutions Notice of Formation of 1510 SOUTHERN LLC. Authority filed with Secy. of State of PRISA II LLC. Authority filed with NY Dept. of Liability Company (LLC) filed with the Sec of International, LLC Application for Authority BOULEVARD RESIDENCE, L.P. Certificate N.Y. (SSNY) on 2/22/08. Office location: NY State on 1/9/08. Office location: NY County. State of NY on 2-14-08. NY Office location: filed with the Secretary of State of New York filed with Secy. of State of N.Y. (SSNY) on County. LLC formed in Delaware (DE) on Principal business address: 8 Campus Dr., 4th NEW YORK County. SSNY is designated as (SSNY) on January 22, 2008. N.Y. Office December 20, 2007. Office location: New York 2/20/08. SSNY designated as agent of LLC Fl., Parsippany, NJ 07054. LLC formed in agent upon whom process against the LLC Location: New York County. LLC formed in County. SSNY designated as agent of LP upon whom process against it may be served. Delaware (DE) on 12/17/07. NY Secy. of State may be served. SSNY shall mail a copy of Florida on 05/25/07 SSNY has been designated upon whom process against it may be served. SSNY shall mail process to: c/o The LLC, 630 designated as agent of LLC upon whom any process against the LLC served upon as agent of LLC upon process against SSNY shall mail process to: The Partnership, Fifth Avenue, Ste. 2074, NY, NY 10111, Attn: process against it may be served and shall him/her to Mark M. Altschul, 18 E. 12th St.,1A, 01/22/08 it may be served. The P.O. address 2212 Third Ave., New York, NY 10035. Herriot Tabuteau. DE address of LLC: 2711 mail process to: c/o CT Corporation System, NY, NY 10003-4458. Latest date to dissolve: to which the SSNY shall mail a copy of any Name/address of each genl. ptr. available from Centerville Road, Ste. 400, Wilmington, DE 111 8th Ave., NY, NY 10011, registered 12-31-2036 General purposes. process against the LLC served upon him/her SSNY. Term: until 12/31/2057. Purpose: any 19808. Arts. of Org. filed with DE Secy. of agent upon whom process may be served. is C/O the LLC: 488 Seventh Avenue, 5C, New lawful activity. State, 401 Federal St., Ste. 4, Dover, DE DE address of LLC: The Corporation Trust 611 SHP LLC, a domestic Limited Liability York, NY 10018. The Principal Business 19901. Purpose: any lawful activity. Co., 1209 Orange St., Wilmington, DE 19801. Company (LLC) filed with the Sec of State Address of the LLC/LLP is: 488 Seventh Name: ADAM PL0TCH LLC Art. Of Org. Filed Arts. of Org. filed with DE Secy. of State, of NY on 2-15-08. NY Office location: New Avenue, 5C New York, NY 10018 Dissolution Sec. Of State NY 4/12/06 Off. Loc.: New York Notice of Qualification of Arcoda Global 401 Federal St., Dover, DE 19901. Purpose: York County. SSNY is designated as agent date: No Specific Date Purpose of LLC/LLP: Co. National registered Agents, Inc. designated Healthcare Fund, L.P. Authority filed with NY any lawful activity. upon whom process against the LLC may Any lawful act or activity. as agent upon whom process against it may Dept. of State on 12/26/07. Office location: be served. SSNY shall mail a copy of any be served. SSNY to mail copy of process to NY County. Principal business address: NOTICE OF FORMATION OF LIMITED LIABILITY process against the LLC served upon him/her Notice of Qualification of Highbridge Principal THE LLC, C/O National Registered Agents, 529 5th Ave., NY, NY 10017. LP formed in COMPANY. NAME: ANTIK BOWERY LLC. to The LLC, 11 W. 18th St., 2W, NY, NY 10011. Strategies-Offshore Mezzanine Partners Inc., 875 Avenue Of the Americas, Ste. 501, Delaware (DE) on 12/18/07. NY Secy. of State Articles of Organization were filed with the General purposes. Master Fund, L.P. Authority filed with NY Dept. NY, NY 10001. Purpose: Any lawful act designated as agent of LP upon whom Secretary of State of New York (SSNY) on of State on 3/6/08. Office location: NY County. 10/25/07. Office location: New York County. LP formed in Cayman Islands (CI) on 11/8/07. process against it may be served and shall Notice of Qualification of Andro Capital Notice of Formation of VHSOURCE LLC, a mail process to: c/o CT Corporation System, SSNY has been designated as agent of the NY Secy. of State designated as agent of domestic Limited Liability Company. Arts. LLC upon whom process against it may be Management, L.P. Authority filed with Secy. LP upon whom process against it may be 111 8th Ave., NY, NY 10011, registered of State of NY (SSNY) on 3/11/08. Office of Org. filed with the SSNY on 03/07/08. agent upon whom process may be served. served. SSNY shall mail a copy of process to served and shall mail process to the principal Office location: NY County. SSNY has been the LLC, c/o Lawrence Kramer, 66 Madison location: NY County. LP formed in Delaware business address: 9 W. 57th St., 27th Fl., DE address of LP: 1209 Orange St.,Wilmington, (DE) on 2/20/08. SSNY designated as agent designated as agent upon whom process DE 19801. Name/address of genl. ptr. available Avenue, Apartment 3F, New York, New York NY, NY 10019. CI address of LP: c/o Maples against the LLC may be served. SSNY shall 10016. Purpose: For any lawful purpose. of LP upon whom process against it may be Corporate Services Ltd., PO Box 309, Ugland from NY Secy. of State. Cert. of LP filed with served. SSNY shall mail process to: c/o mail a copy of process to: The LLC, 302 West DE Secy. of State, 401 Federal St., Dover, House, Grand Cayman, KY1-1104, CI. 105th Street, #3C, NY, NY 10025. Purpose: Kirkland & Ellis LLP, Attn: John L.Budetti, Name/address of genl. ptr. available from NY DE 19901. Purpose: any lawful activity. Notice of Qualification of FC-CANAL LLC. 153 East 53rd St., NY, NY 10022. DE address Any Lawful Purpose. Authority filed with Secy. of State of N.Y. Secy. of State. Cert. of LP filed with Registrar of LP: Corporation Service Company, 2711 of Exempted LPs, Citrus Grove Bldg., George Notice of App. for Auth. for foreign LLC named (SSNY) on 1/17/2008. Office location: New Centerville Rd., Ste. 400, Wilmington, DE Notice of Qualification of OMG Projects, LLC. Ideal Glass Atelier LLC filed with NY Dep. State York County. LLC formed in Delaware (DE) Town, Grand Cayman, CI. Purpose: any Authority filed with Secy. of State of N.Y. 19808. Name/address of genl. ptr. available lawful activity. 3/5/08; formed in DE 10/26/06; NY Office, on 12/6/2007. SSNY designated as agent of from SSNY. Cert. of LP filed with DE Secy. (SSNY) on 3/26/08. Office location: NY County. Principal Location and address to which Sec. LLC upon whom process against it may be of State, Federal & Duke of York Sts., Dover, LLC formed in Delaware (DE) on 3/17/08. of State can mail copy of process: 6 West 9th served. SSNY shall mail process to: c/o DE 19901. Purpose: any lawful activities. Notice of Formation of THINKTHINKTHINK SSNY designated as agent of LLC upon whom St., NY, NY 10011; NY Sec. of State designated United Corporate Services, Inc., 10 Bank MUSIC, LLC. Arts. of Org. filed with Secy. process against it may be served. SSNY shall St., Suite 560, White Plains, NY 10606. DE of State of NY (SSNY) on 2/19/08. Office as agent upon whom process against the Notice of Formation of SBG1 LLC, Art. of Org. mail process to: 777 Sixth Ave., #31D, NY, NY address of LLC: 874 Walker Road, Suite C, location: NY County. SSNY designated as agent company may be served; Office maintained filed Sec'y of State (SSNY) 1/31/08. Office 10001. DE address of LLC: 615 South Dupont Dover, Delaware 19904. Arts. of Org. filed of LLC upon whom process against it may be in Juris. of Org.: Delaware Business location: NY County. SSNY designated as Hwy., Dover, DE 19901. Arts. of Org. filed with with DE Secy. of State, Townsend Bldg., Dover, served. SSNY shall mail process to principal Incorporators, Inc., 3422 Old Capitol Trail, Ste. agent of LLC upon whom process against it DE Secy. of State, P.O. Box 898, Dover, DE DE 19901. Purpose: any lawful activity. business location: 308 Mott St., Ste. 5A, NY, 700, Wilmington, DE 19808; Arts. of Org. filed may be served. SSNY shall mail copy of 19903. Purpose: any lawful act or activity. with DE Sec. of State, 401 Federal St., Ste. 4, NY 10012. Purpose: music/entertainment process to c/o Salans, Attn: Francois Chateau, company. Dover, DE 19901; Purpose: any lawful activity. Notice of Qualification of IOC Project 4 LLC, Esq., 620 Fifth Ave., NY, NY 10020. Purpose: Notice of Qualification of Heritage Education App. for Auth. filed Sec'y of State (SSNY) any lawful activities. and Festivals, LLC. Authority filed with NY Notice of Qualification of HedgeForum 2/11/08. Office location: NY County. LLC org. NOTICE OF FORMATION of Cactus and The Dept. of State on 3/14/08. Office location: NY Peach Productions LLC. Articles Of Org. Criterion, LLC. Authority filed with NY Dept. in DE 2/5/08. SSNY designated as agent of NOTICE OF FORMATION OF Derek Green LLC. County. Principal business address: 2650 S. filed with Secy. Of State of N.Y. (SSNY) on of State on 2/28/08. Office location: NY LLC upon whom process against it may be Article of Organization filed with the Secretary Decker Lake Blvd., Ste. 200, West Valley, UT 2/19/08. Office location: New York County. County. LLC formed in Delaware (DE) on served. SSNY shall mail copy of process to of State of NY (SSNY) on 11/29/07 Office 84119. LLC formed in Delaware (DE) on SSNY designated as agent of LLC upon whom 2/25/08. NY Secy. of State designated as agent 23-25 Greene St., NY, NY 10013. Reg. Agt. location New York County. SSNY has been 9/16/99. NY Secy. of State designated as process against it may be served. SSNY shall of LLC upon whom process against it may be upon whom proc may be served is CSC, 80 designated as agent upon whom process agent of LLC upon whom process against mail process to: 603 W 148 St., #10B, NY, NY served and shall mail process to the principal State St., Albany, NY 12207. DE office addr.: against it may be served. The post office it may be served and shall mail process to: 10031. Principal business location: 603 W business address: 731 Lexington Ave., 25th c/o CSC, 2711 Centerville Rd., Wilmington, address to which the SSNY shall mail a copy c/o CT Corporation System, 111 8th Ave., 148 St., #10B, NY, NY 10031. Purpose: Any Fl., NY, NY 10022. DE address of LLC: c/o DE 19808. Cert. of Form. on file: SSDE, of any process against the LLC served upon NY, NY 10011, registered agent upon whom lawful activity. National Corporate Research, Ltd., 615 S. Townsend Bldg., Dover, DE 19901. Purpose: him/her is C/O the LLC Derek Green.New York process may be served. DE address of LLC: DuPont Hwy., Dover, DE 19901. Arts. of Org. any lawful activities. City, NY 10026. Purpose of LLC: to engage in The Corporation Trust Co., 1209 Orange St., filed with DE Secy. of State, 401 Federal St., any lawful act or activity. Street address of Notice of Qualification of Legallylooking.com Wilmington, DE 19801. Arts. of Org. filed Dover, DE 19901. Purpose: any lawful activity. NOTICE OF FORMATION OF LIMITED LIABILITY Principal Business location is: 100 W. 119th LLC. Authority filed with Secy. of State of N.Y. with DE Secy. of State, 401 Federal St., Dover, COMPANY. NAME: CHELSEA IMAGING St., #3A. New York, NY 10026 (SSNY) on 3/18/08. Office location: NY DE 19901. Purpose: any lawful activity. NOTICE OF FORMATION of Bryan Leder HOLDINGS, LLC. Articles of Organization County. LLC formed in Delaware (DE) on 3/4/08. SSNY designated as agent of LLC Talent, LLC. Article of Organization filed were filed with the Secretary of State of New Notice of Qualification of BE&K Construction Notice of Formation of Quik Park West 62nd upon whom process against it may be served. with the Secretary of State of NY (SSNY) York (SSNY) on 01/25/08. Office location: Company, LLC. Authority filed with NY Dept. St. LLC. Arts. of Org. filed with Secy. of State SSNY shall mail process to principal business on 01/25/08. Office location: NY County. New York County. SSNY has been designated of State on 1/7/08. Office location: NY County. of N.Y. (SSNY) on 3/17/08. Office location: NY location: c/o Mr. Byron M. Henderson, 138 W. SSNY has been designated as agent upon as agent of the LLC upon whom process Principal business address: 2000 International County. SSNY designated as agent of LLC upon 133rd St., #2C, NY, NY 10030. DE address of whom process against it may be served. against it may be served. SSNY shall mail a Park Dr., Birmingham, AL 35243. LLC formed whom process against it may be served. LLC: c/o Corporation Service Company, 2711 The Post Office address to which the SSNY copy of process to the LLC, c/o Weltman & in Delaware (DE) on 12/31/07. NY Secy. of SSNY shall mail process to: The LLC, 247 Centerville Road, Ste. 400, Wilmington, DE shall mail a copy of any process against the Moskowitz, LLP, 270 Madison Avenue, Suite State designated as agent of LLC upon whom W. 37th St., NY, NY 10018. Purpose: any 19808. Cert. of Form. filed with DE Secy. of LLC served upon him is C/O the LLC 227 1400, New York, New York 10016-0603. process against it may be served and shall lawful purpose. State, Townsend Bldg., Dover, DE 19901. Riverside Dr. N.Y., N.Y., 10025. No Specific Purpose: For any lawful purpose. mail process to: c/o CT Corporation System, Purpose: information services and any other Date of Dissolution. Purpose of LLC: to 111 8th Ave., NY, NY 10011, registered agent CUTLER SOHO, LLC, a domestic Limited purposes permitted by applicable law. engage in any lawful act or activity. Notice of Qualification of HIGHMOUNT upon whom process may be served. DE Liability Company (LLC) filed with the Sec of ADVISERS LLC. Authority filed with Secy. address of LLC: 1209 Orange St., Wilmington, State of NY on 7-28-04. NY Office location: of State of N.Y. (SSNY) on 4/11/02. Office DE 19801. Arts. of Org. filed with DE Secy. of Notice of Formation of LIFE JUNCTIONS LLC. New York County. SSNY is designated as Notice of Qualification of North American Arts. of Org. filed with Secy. of State of NY Energy Alliance, LLC. Authority filed with Secy. location: NY County. LLC formed in Delaware State, 401 Federal St., Dover, DE 19901. agent upon whom process against the LLC (DE) on 3/15/02. SSNY designated as agent Purpose: any lawful activity. (SSNY) on 3/12/08. Office location: NY may be served. SSNY shall mail a copy of of State of N.Y. (SSNY) on 3/5/08. Office County. SSNY designated as agent of LLC location: NYCounty. Principal business location: of LLC upon whom process against it may be any process against the LLC served upon served. SSNY shall mail process to: The LLC, upon whom process against it may be served. him/her to The LLC, 115 E. 57th St., NY, NY Times Square Tower, 7 Times Sq., 25th Fl., NY, Notice of Qualification of Monarch Alternative SSNY shall mail process to principal business NY 10036. LLC formed in Delaware (DE) on 12 E. 49th St., 17th Fl., NY, NY 10017. Capital LP. Authority filed with NY Dept. of 10022. General purposes. Principal office/principal business location of location: 315 W. 70th St., #15L, NY, NY 10023, 11/29/07. SSNY designated as agent of LLC State on 2/1/08. Office location: NY County. Attn: Stacy S. Kim, registered agent upon upon whom process against it may be served. LLC: 17 E. 49th St., 17th Fl., NY, NY 10017. Principal business address: 375 Park Ave., NOTICE OF FORMATION OF E.K. Wallace Arts. of Org. filed with DE Secy. of State, 401 whom process may be served. Purpose: any SSNY shall mail process to: c/o Corporation NY, NY 10152. LP formed in Delaware (DE) lawful activity. Securities LLC. Article of Organization filed Service Company (CSC), 80 State St., Albany, Federal St., Ste. 4, Dover, DE 19901. Purpose: on 3/26/02. NY Secy. of State designated as with the Secretary of State of NY (SSNY) on any lawful activity. NY 12207. DE address of LLC: c/o CSC, 2711 agent of LP upon whom process against it NOTICE OF FORMATION of The Burlesque 12/18/07 Office location NEW YORK County. Centerville Road, Ste. 400, Wilmington, DE may be served and shall mail process to: c/o Lingerie Company L.L.C. Arts. of Org. filed SSNY has been designated as agent upon 19808. Arts. of Org. filed with DE Secy. of A & T GOLDEN, LLC, a domestic Limited CT Corporation System, 111 8th Ave., NY, NY with the Secretary of State of NY(SSNY) on whom process against it may be served. The State, 401 Federal St., Ste. 4, Dover, DE 19901. Liability Company (LLC), filed with the Sec of 10011, registered agent upon whom process 1/14/08. NY office location: NY County. SSNY Post Office address to which the SSNY shall Purpose: any lawful activity. State of NY (SSNY) on 1/23/08. NY Office may be served. DE address of LP: c/o CT has designated as agent upon whom process mail a copy of any process against the LLC location:NEW YORK County. SSNYis designated Corporation System, 1209 Orange St., against it may be served and shall mayprocess served upon him/her is C/O the LLC 270 Name: Treadwell Farm LLC (LLC). Articles as agent upon whom process against the LLC Wilmington, DE 19801. Name/address of to : Business Filings Inc., 187 Wolf Rd. Suite Lafayette Street, Suite 1301. New York, NY of Organization filed with Dept. of State of may be served. SSNY shall mail a copy of genl. ptr. available from NY Secy. of State. 101, Albany N.Y.12205.The principal business 10012. Purpose of LLC: to engage in any NY on 11/20/07. Office location: New York any process against the LLC served upon Cert. of LP filed with DE Secy. of State, 401 address of the LLC: 244 5th Ave., Suite P236, lawful act or activity. Street address of Principal County. Secretary of State of NY (SOS) is him/her to TERRY F. KWONG, MANAGER, Federal St., Dover, DE 19901. Purpose: any NY, NY 10001. Purpose: any lawful act. Business location is: 270 Lafayette Street, designated as agent of LLC for service of 7-8 CHATHAM SQ., #C3, NY, NY 10038. lawful activity. Suite 1301. New York, NY 10012. process. SOS shall mail copy of process to General purposes. Notice of Formation of PASTOURELLE LLC. 530 Park Avenue, NY, NY 10021. Purpose: NOTICE OF FORMATION of Perfect World Arts. of Org. filed with Secy. of State of N.Y. Notice of Qualification of Tandem Global Any lawful act or activity. NOTICE OF FORMATION OF LIMITED LIABILITY Construction LLC. Arts. of Org.filed with Secy. (SSNY) on 2/4/08. Office location: NY County. Partners Management, LLC. Authority filed COMPANY. NAME: 21 SOUTH END AVENUE Of State of N.Y. (SSNY) on 8/8/07. Office SSNY designated as agent of LLC upon whom with NY Dept. of State on 3/3/08. Office Notice of Registration of FXFowle Architects, UNIT 209 LLC. Articles of Organization were location: New York County. SSNY designated process against it may be served. SSNY shall location: NY County. LLC formed in Delaware LLP. Certificate filed with Secy. of State of filed with the Secretary of State of New York as agent of LLC upon whom process against mail process to: Silverberg, Stonehill, Goldsmith (DE) on 2/4/08. NY Secy. of State designated NY (SSNY) on 2/28/08. Office location: NY (SSNY) on 03/17/08.Office location: New York it may be served. SSNY shall mail process & Haber, P.C.,111 W. 40th St., 33rd Fl., NY, NY as agent of LLC upon whom process against County. SSNY designated as agent of LLP County. SSNY has been designated as agent to: 136 Bowery Street, #1511, NY, NY 10013. 10018. Purpose: any lawful activity. it may be served and shall mail process to: upon whom process against it may be served. of the LLC upon whom process against it may Principal business location: 136 Bowery c/o CT Corporation System, 111 8th Ave., SSNY shall mail process to principal business be served. SSNY shall mail a copy of process Street, #1511, NY, NY 10013. Purpose: any NOTICE OF FORMATION OF Kiss Kiss Lab, NY, NY 10011, registered agent upon whom location: 22 W.19th St., NY, NY 10011. Purpose: to the LLC, c/o Dr. Joy Browne, 21 South End lawful activity. 949281 j16-W f20 LLC. Article of Organization filed with the process may be served. DE address of LLC: practice the profession of architecture. Avenue, Unit 209, New York, New York 10280. Secretary of State of NY (SSNY) on 02/28/08 The Corporation Trust Co., 1209 Orange St., Purpose: For any lawful purpose. Notice of Formation of Global Brand Licensing, Office location NEW YORK County. SSNY has Wilmington, DE 19801. Arts. of Org. filed with Notice of Formation of P.S. 157 Lofts, LLC. LLC. Arts. of Org. filed with NY Dept. of State been designated as agent upon whom process DE Secy. of State, 401 Federal St., Dover, DE Arts. of Org. filed with NY Dept. of State on BROADVIEW ADVISORS LLC Articles of on 12/10/07. Office location: NY County. Principal against it may be served. The Post Office 19901. Purpose: any lawful activity. 3/25/08. Office location: NY County. Secy. Org. filed NY Sec. of State (SSNY) 3/4/08. business address: 1357 Broadway, #236, NY, address to which the SSNY shall mail a copy of State designated as agent of LLC upon Office in NY Co. SSNY desig. agent of LLC NY 10018. Secy. of State designated as agent of any process against the LLC served upon whom process against it may be served and upon whom process may be served. SSNY of LLC upon whom process against it may be him/her is C/O the LLC 343 Pleasant Ave, Ste To place your classified shall mail process to the principal business shall mail copy of process to 66 Leonard served and shall mail process to: Winne, 3. NY, NY 10035. Purpose of LLC: to engage address: c/o Bluestar Properties, 31 E. 32nd St., Ste. 7B, NY, NY 10013, which is also Banta, et al, P.C.,Gary S. Redish, Esq., PO Box in any lawful act or activity. Street address of ad call John Gallagher St., 12th Fl., NY, NY 10016. Purpose: any the principal business location. Purpose: 647, 21 Main St.,1st Fl., East Wing,Hackensack, Principal Business location is: 343 Pleasant @ 212-210-0189 lawful activity. Any lawful purpose. NJ 07602. Purpose: any lawful activity. Ave, Ste 3. NY, NY 10035.

April 14, 2008 | Crain’s New York Business | 29 Project4 4/10/08 3:46 PM Page 1

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BUSINESS

HOME FRONT Co-ops, condos lobby for marketability PAGE 34 buck ennis

SATISFYING ARC: GOTHAM GIGS Former critic Jami Bernard recast herself as a publisher Booked up and writers’ mentor. CANDACE SANDY, 38, works as the communications director for Rep. Gregory Meeks, a Democrat from Queens. But in her off hours, Ms. Sandy runs the Souls of My Sisters book imprint she launched at Kensington Publishing. SOUL FOOD In college, Ms. Sandy and her friend Dawn Marie Daniels came up with the idea of writing Souls of My Sisters, a “chicken soup for the soul” designed to inspire women. After the book was published in 2000, they received so much positive feedback that they decided to create their own imprint. “Our message is universal,” Ms. Sandy explains. “Pain doesn’t have an ethnicity at all.” JUGGLING JOBS Two months after the launch, Ms. Sandy has been able to balance her work for Mr. Meeks with her new publishing duties. She says, “I get to work on the political aspect, and then the spiritual and self-help aspect.” FUTURE FEATURES Ms. Sandy will publish a book of church humor stories this fall and is planning a volume aimed at younger women. —adrianne pasquarelli EXPERT OPINIONS HOW CAN I ENHANCE MY SEDER? buck ennis most families have two BY MATTHEW FLAMM seders for Passover. In order to make the second night different, try using a new wo years ago, when Jami Bernard’s contract at the Haggadah, like one that Media Daily News expired and was not renewed, the veteran focuses on Darfur.Try to film critic could see her career’s final scenes playing out. integrate elements that reflect “Things had been going in a bad direction for larger themes, like freedom. several years,” says Ms. Bernard, who reviewed movies Also, prepare special activities vets plot at the New York Post before joining the News in 1993. for children to keep their attention. Give them a plague “I knew there weren’t going to be any film critic jobs kit with food coloring to out there.” represent blood, toy frogs, and She was so right. In the past year, publications Ping-Pong balls as hail. Have 2nd act the kids present a little play of around the country have been dropping their film critics as they look to the Ten Plagues. Pink-slipped pros search Treduce costs. In fact, socked by the one-two punch of competition from the —susie kessler Internet and a stagnant ad market, newspaper and magazines, as well as Director, Makom: Center souls, tweak skill sets radio and television stations, are eliminating See MEDIA VETS on Page 32 for Mindfulness, Jewish Community Center OUT OF PRINT Number of jobs lost in the newspaper 16,90 0 82,800 industry nationwide 2007 SINCE 2000 istockphoto Source: Advertising Age analysis of Bureau of Labor Statistics data April 14, 2008 | Crain’s New York Business | 31 CNYB 04-14-08 A 32 4/10/2008 8:19 PM Page 1

BUSINESS LIVES Media vets plot second act AN INDEPENDENT SPIN NO INDUSTRY has been more battered by digital technology than the Continued from Page 31 ship—it takes a lot of time and en- change after 24 years at WLTW. music business. But A&R executive Jason Mazur was already poised to positions by the thousands. ergy,” says Valerie Smaldone, the Not everyone is so lucky. Like move on when his label, TVT Records, ran into trouble at the end of The reversal of fortunes is forc- former midday host on WLTW- their newspaper counterparts, most 2007. ing laid-off media veterans to re- FM.She left the top-rated station at radio vets looking to stay in their in- Two years earlier, he had founded consulting firm PiggEbank Group assess their careers, pare expenses, the end of last year, when she and dustry are having a difficult time. with producer Randy Allen. TVT went bankrupt this past February, and dip into emergency savings and look Clear Channel Radio couldn’t agree “There is a real pecking order in Mr. Mazur hasn’t looked back. for new ways to apply old skills. on terms of a new contract. terms of availability [of jobs] and “A lot of people are trying to find jobs at labels that just fired a lot of But first they have to get over Ms.Smaldone was one of a num- compensation,” says Rick Linde, a people,” he says. “They haven’t grasped that it’s a whole new world.” their shock and humiliation. ber of high-profile DJs to leave media headhunter at recruiting firm In addition to managing artists and pitching television projects, the “I knew I was going to be forced WLTW, which has felt the sting of Battalia Winston International. company plans to release its first CD in the fall. Mr. Mazur points out out of the industry,” Ms. Bernard the parent company’s cost-cutting Internet-related companies of- that sales of 100,000 units would be a failure for the likes of Sony BMG says.“I did everything I could to pre- fer the most opportunity, whereas but would be considered a success for PiggE Bank, which has a tiny staff. pare,and I still had no idea how emo- “newspapers are at the bottom of “Independence is the future,” he says. tionally devastating it would be.” ‘I had no idea that pecking order, and radio is She now subscribes to a basic ca- down there with them,” Mr. Linde ble package—no more HBO—eats how emotionally says. all meals at home and has bought than two decades in radio, had built scale. cheaper health insurance. devastating More freelancers up an emergency fund that she ex- In January, former WCBS-TV But Ms. Bernard has also many more experienced hands, on pects will last three or four months. morning anchor Mario Bosquez launched her own business, Barncat it would be’ both the business and editorial Basic living expenses aren’t a prob- started as afternoon host on the Publishing Inc., which grew out of sides, might be working multiple lem,as her husband,John Jarrin,is a Martha Stewart Living channel on her experience teaching and men- freelance gigs this year, as the tough producer at cable channel truTV— Sirius Satellite Radio. toring writers. The firm offers on- economy exacerbates traditional a position he landed after being laid Though he acknowledges that line workshops and multimedia tu- media’s advertising slowdown. off from NBC in fall 2006. his current salary “is different” from torials for writers of every genre, as over the past 18 months. The New York City Indepen- Right now, Ms. Quimby is his last one, he says he’s doing fine well as a line of high-priced how-to Since her departure, Ms. Smal- dent Budget Office forecasts a net wrestling with whether she should financially and supplementing his books. done has guest-hosted on WOR- loss of about 2,500 positions this try to get back into radio or pursue income with corporate speaking en- AM, started writing a nightlife col- year out of the information sector’s something altogether different. gagements—just as he did in his Turning the battleship umn for thethreetomatoes.com and almost 165,000 jobs. Those who have adapted to the days as an anchor. many media professionals say that it done interviews for an online televi- “I’ve never seen it like this,” says changes say that they did so by be- “If you get caught up in your takes a while to figure out the next sion startup. Crys Quimby, who lost her job as ing flexible. For people who spent ego,” Mr. Bosquez says, “it’s very step and that a new career must be Fortunately, she can pay the rent program director at all-news station time in television—traditionally the hard to survive.” built in stages. with voice-over and hosting gigs. WCBS-AM in February. highest-paying media category— “It’s like turning around a battle- And she insists that she needed a Ms. Quimby, who spent more that means adjusting to a lower pay COMMENTS? [email protected]

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32 | Crain’s New York Business | April 14, 2008 CNYB 04-14-08 A 33 4/10/2008 8:44 PM Page 1

BUSINESS LIVES CORPORATE LADDER Lynda Clarizio AOL experience ads up Mission is to unify its previous leader was reportedly pushed out after just six months.Her PERSONNEL FILE cultures, make a one- mission is to transform AOL into a one-stop shop for buying and selling COMPANY AOL stop shop for buying, online ads by making the division a TITLE President of Platform A cohesive business. Platform A com- selling online ads prises seven different firms, includ- AGE 47 ing Advertising.com, that AOL RÉSUMÉ President, BY AMANDA FUNG bought for close to $1 billion. Advertising.com; executive vice “I know what needs to be done. I president, strategy, finance and aintaining a suc- have a clear vision,” says Ms. Clar- business development, AOL cessful career and izio, who specialized in internation- being a good moth- al law before joining AOL.“I was al- MANAGEMENT STYLE Candor er to her two kids are ways interested in resolving disputes and constant communication equally important to and putting things together.” HOBBY Yoga Mlongtime AOL executive Lynda Clarizio. Too much jetting “I remember sitting in a kinder- the newark native, who is the it was in talks to merge with Yahoo. garten classroom closet to take a con- older of two children and hails from Ms.Clarizio has held several sen-

ference call,” says Ms. Clarizio, for- a close-knit Italian family,began her ior jobs at AOL in finance, strategy buck ennis mer president of Advertising.com, career at Dulles, Va.-based AOL and business development.In 2004, an AOL unit. She was on the phone because she no longer wanted to jet she led the firm’s $435 million acqui- “She is hyperaggressive, ambi- her staff of more than 1,500. Barely with Jon Miller and Steve Swad,for- around the world.Her desire to spend sition of Advertising.com; she be- tious and analytical, plus she is pas- a month into her new post, she has mer AOL chief executive and chief more time at her Potomac, Md., came president of the unit in 2006. sionate. That is a unique mix,” says reorganized Platform A, creating financial officer, respectively. home and care for her kids led her to She played a crucial role in AOL’s Ted Leonsis, former president of teams based on function—a sales “Jon didn’t mind, as long as I got take a mergers-and-acquisitions job transition into an advertising busi- AOL’s advertising business, who force, a marketing team and a tech the job done,” the Princeton Uni- at AOL in 1999, after seven years at ness from an Internet service pro- had picked Ms. Clarizio to be his team—to create a unified culture. versity and Harvard Law School Washington,D.C.,law firm Arnold vider and admits that AOL should “right-hand person” in charge of fi- “We have to be ready to execute. alum says. & Porter. That year, AOL was one have made the change sooner. nance, operations and strategy.“She We operate in an intensely competi- Despite her devotion to family, of the hottest tech firms in the na- Under her leadership, Advertis- is the perfect person for the job.” tive industry,”says Ms.Clarizio,who Ms. Clarizio has developed a repu- tion. In 2000, she helped the coming.com has become one of AOL’s also managed to squeeze in time re- tation for being able to execute and pany merge with Time Warner. fastest-growing businesses. The Rapid reorganization cently to visit potential colleges with deliver results. She’ll be expected to Today, AOL struggles to com- unit, which buys and sells ads for a as president of Platform A, Ms. her son, Benjamin, 17. “This is the do just that in her latest gig, leading pete against giants Google, Yahoo network of sites that reach 185 mil- Clarizio will split her time between best way to position us to win.” Platform A,the online ad business of and Microsoft. AOL declined to lion users,represented 29% of AOL’s Baltimore and AOL’s new Manhat- AOL. It’s a tough job to step into— comment on reports last week that $2.3 billion in ad sales last year. tan headquarters, to remain close to COMMENTS? [email protected]

EXECUTIVE MOVES

ACCOUNTING & CONSULTING HOSPITALITY & TOURISM at McKee Nelson. BDO Consulting Corporate Advisors: Bill Wildlife Conservation Society: Jon Forrest Morrison & Foerster: Susan Klein, 53, HOT JOBS Lenhart, 52, was promoted to president Dohlin, 48, was promoted to director of joined as chief marketing officer. She and continues as national director of the New York Aquarium from project was formerly chief marketing officer at business restructuring services at BDO manager. Citibank. WANTED: EXECUTIVE DIRECTOR Consulting. Proskauer Rose: John Edward Failla, 45, Mahoney Cohen & Co.: Mark Bednarz, LAW joined as partner. He had been a partner ORGANIZATION Dumbo Improvement District 37, was promoted to shareholder from Arent Fox: Jacqueline A. Weiss, 49, joined at Morgan Lewis. JOB DESCRIPTION Advocate and raise funds for Dumbo and act Sonnenschein Nath & Rosenthal: senior manager. as partner. She was formerly a partner at Monica as a liaison with local businesses John J. Cronin, 38, was promoted to Baker Hostetler. B. Richman, 39, joined as partner. She shareholder from senior manager. Baker Hostetler: Robert B.G. Horowitz, had been a partner at Thelen Reid MOST IMPORTANT TASKS Support the improvement of Mitchell Plattman, 43, was promoted to 56, joined as partner. He was formerly Brown Raysman & Steiner. neighborhood and transportation infrastructure and assist in the shareholder from senior manager. general partner at Cooper & Dunham. reopening of the Manhattan Bridge Archway area Cindy E. Rosenberg, 36, was promoted to Donna A.Tobin, 48, joined as partner. MEDIA & ENTERTAINMENT shareholder from senior manager. She was formerly of counsel at Aronauer Brides.com: Michelle Preli, 42, was CREDENTIALS NEEDED College degree and five years of full-time Erika J. Rotheim, 44, was promoted to Re & Yudell. named editor in chief for the Condé professional experience in a related field shareholder from senior manager. Covington & Burling: Timothy Clark, 45, Nast Web site. She had been vice joined as partner. He had been a partner president of editorial programming at SALARY $90,000 to $100,000 ADVERTISING & COMMUNICATIONS at O’Melveny & Myers. iVillage.com. RECRUITER Internal Purple@Epsilon: Stacia Goddard, 41, Loretta Shaw-Lorello, 44, joined as Metropolitan Television Alliance: Saul T. joined as executive vice president, partner. She had been a partner at Shapiro, 51, was named president. He DOWNSIDE Having to seek development funds in an uncertain strategic marketing services. She O’Melveny & Myers. was formerly vice president of business financial and real estate climate was formerly executive vice president Hodgson Russ: Deborah J. Piazza, 37, was development at the city Economic and managing director at Hill/ named partner. She was special counsel at Development Corp. UPSIDE Opportunity to play a central role in developing an Holliday. Cadwalader Wickersham & Taft. MVP/NY: Trisha S. McMahon, 47, was up-and-coming neighborhood near downtown Brooklyn, which has Van Wagner Communications: Robert C. Jones Day: Ted Kamman, 44, joined as named senior vice president, been designated a future business district by PlaNYC Fauser, 60, was promoted to senior partner. He had been a partner at communications and public relations, The Dumbo Improvement District is dedicated to enhancing and pro- partner from president, Eastern Clifford Chance. and continues as editor in chief. division. Mayer Brown: Jeffrey L. Dunetz, 49, Sony/ATV Music Publishing: Rob Kaplan, moting the historic neighborhood below the Manhattan Bridge over- rejoined as partner. He had been a 34, was appointed senior vice president, pass in Brooklyn. Dumbo has grown because it offers great waterfront FINANCE & INSURANCE partner at Sutherland Asbill & Brennan. global marketing. He was formerly views of Manhattan and low rents. The organization launched tem- Guardian Life Insurance Co. of America: McDermott Will & Emery: Peter J. Rooney, director of music production porary-art and green-living programs in the pastANDREW year.— BUCK Scott Dolfi, 45, was appointed executive 41, joined as partner. He had been a at McGarry Bowen. vice president, retirement products and partner at McKee Nelson. services, a newly created position. He Vladimir R. Rossman, 61, joined as REAL ESTATE was formerly chief operating officer at partner. He was formerly a partner CB Richard Ellis: Scott Gamber, 54, was GE Asset Management. promoted to vice chairman from senior vice president. Godiva Chocolatier. New York Life Investment Management: executive vice president. New York City Department of Consumer John Y. Kim, 47, was named president EXECUTIVE PROMOTIONS Eastern Consolidated: Neil Gronowetter, SERVICES Affairs: Jed Herrmann, 30, was promoted and chief executive, and executive vice The fastest way to get an announcement into 36, joined as director. He was a director Christie’s International: Elizabeth to deputy commissioner for president of parent New York Life Crain’s is to submit details online. Fill out the form at Massey Knakal Realty Services. Dunlap, 46, was appointed chief human administration and technology and Insurance Co. He was formerly at www.crainsnewyork.com/submit. The ING Clarion Partners: Brian Watkins, resources officer. She was formerly vice continues as chief of staff. president at Prudential Retirement. Executive Moves column is also available online. 38, was promoted to director from president, global human resources, at —sarah studley

April 14, 2008 | Crain’s New York Business | 33 CNYB 04-14-08 A 34 4/10/2008 8:26 PM Page 1

Multifamily Owners BUSINESS LIVES Multifamily building owners in New York: the more energy you save, the more you get paid.

DRAMATIC DO-OVER: The board at 315 E. 70th St. converted a dark hall (left) into an airy lobby by taking space from a vacated apartment. The New York Energy $martSM Multifamily Performance Program can help you make your building Lavish upgrades more energy efficient.

Find out how: You can reduce your building’s energy liven up lobbies bill by 20% and get $600 or more per apartment. Plus, you may be eligible for a reduced interest loan. Older buildings add tions and digital-fingerprint technology to control staffers’ access to latest amenities to residents’ keys. The building termi- Limited Time Offer: nated a ground-floor office lease to Gas customers in Con Edison Territory improve marketability expand the cramped entranceway, receive additional incentives for gas and added lobby air-conditioning. saving measures.* Similarly, the board at 315 E. BY JUDITH MESSINA 70th St. took some space from a Call 1-877-NY-SMART or visit vacated ground-floor apartment to GetEnergySmart.org/MultiFamilyHomes ntil recently, the expand its package room, and con- for more information. lobby of the apart- verted the dark, narrow lobby into ment building at 45 E. an airy wood-paneled space. Sponsored by the New York State Energy 72nd St. featured, The Churchill, a 600-unit co-op Research and Development Authority (NYSERDA) among other things, a at 300 E. 40th St., redid its lobby and Con Edison. Ucredenza held together with tape. and hallways a few years ago. Now, * Eligible participants include all natural gas customers That, and the lobby’s outdated ap- the building—just a few blocks from in the Con Edison Service territory who are on a non- pearance, prompted the co-op board Sheldon Solow’s planned $4 billion interruptible, firm-rate structure, and pay the Monthly Rate Adjustment charge. Other restrictions may apply. to give it a face-lift, shelling out mixed-use development on the East about $40,000 for new furniture, River—is upgrading its entrance lighting and wallpaper. and putting in a new driveway, “The thinking was, ‘This is our walkway and decorative sculptures. home, and it’s Of course, overhauls don’t come the first thing cheap. Buildings may be able to HOME people see spend just $50,000 to redecorate do more FRONT when they the lobby, but the typical lobby and come into our hallway redo costs between great than satisfy meals your appetite. home,’ ” says board President Da- $300,000 and $500,000—which vid Goldstein. may require a special assessment. That idea has gripped co-op and condo boards all over the city. Consensus complications Facing competition from new de- getting dozens or even hundreds velopments laden with costly luxu- of residents to agree on what the ries, boards are scrambling to make end product should look like can existing properties more appealing be more problematic than coming and marketable. They are redoing up with the money. lobbies, hallways and entrances and A committee-led lobby renova- adding high-tech systems. tion at 315 E. 70th in the 1980s “Some buyers won’t even go drew so many complaints that the into a building if there’s not a nice building stopped the work and hired lobby,” says Manhattan architect a new designer. Eager to avoid such Ethelind Coblin, who has made a complications, the board of a well- specialty of such renovations. to-do Upper East Side building Lobbies have traditionally served recently hired a professional to poll as signals of the character of their residents about their preferences buildings. Now, lifestyle changes before redesigning the hallway. and the over-the-top amenities com- “It’s the reality of communal mon in new construction are rais- living,” says Adam R. Rose, co- ing standards and expectations. For president of Rose Associates Inc. example, the Chelsea Landmark, a Despite the hassles, lobby and Rose Associates rental building at hallway face-lifts almost always pay 55 W. 25th St., boasts a 1,000- off, say real estate veterans: They square-foot package room with a can raise units’ value by as much as rack for dry cleaning and a walk-in 10% to 15%. “Ultimately, the rea- refrigerator for grocery deliveries. son any co-op or condo renovates Manhattan | 212.245.9600 | 148 W. 51st St. Older buildings may not be able is to increase the value of the apart- Lunch on Fridays | 11:45 am - 3:00 pm to top that, but they can outshine ments,” says Joanne Zazzaro, board less comely properties. At 60 Sut- president at 315 E. 70th. ton Place, a recent lobby makeover group private dining available | reservations & gift cards at ruthschris.com added Internet-based communica- COMMENTS? [email protected]

RUTH08-82A_6x6.indd 1 3/18/08 12:43:52 PM CNYB 04-14-08 A 35 4/10/2008 8:28 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape gonzola piccante. ly owned the Sutton Wine Shop, seafood-first trattoria features tow- Six pastas ($18 to $25) are gen- and his love of the grape shines ering raw bar platters but keeps erously portioned and well-made— everywhere at ADV. serious steaks and the best potato from a simple cacio e pepe (cheese, A large service ensemble exudes pie in town. cracked pepper and olive oil) to lin- vigor, charm and know-how. guine smothered in a fish and shell- Tommaso ½ fish ragu. COMMENTS? [email protected] www.tommasoinbrooklyn.com Tuna seared to order is perfumed 1464 86th St. (between 14th and 15th with aged balsamico, and smoked- avenues), Dyker Heights, Brooklyn. bacon vinaigrette pins the taste tail BEST OF BOB LAPE (718) 236-9883. The happy duet of on a hefty Berkshire pork chop. Tommaso Verdillo’s soul-satisfying Juicy lamb chops are done up with Following are other informal Italian roasted tomato and olive conserva neighborhood hits. and Tuscan kale. A popular chicken dish is a whole 3½-pounder, organ- Valbella ic and free-range, roasted with a www.valbellany.com blood orange stuffing and boned at 421 W. 13th St. (between Ninth the table. It’s for two people and Avenue and Washington Street), comes with zucchini, shallots, peas Manhattan. (212) 645-7777. and potatoes. A dramatic debut in the meatpack- Speaking of spuds, the Tuscan ing district for one of Connecticut’s TOMMASO features southern Italian cooking. fries are outstanding—aged russets top-rated Italian restaurants. Own- from Idaho that are blanched, then er David Ghatanfard makes his case fried to net wonderful surface with thousands of wines, the finest southern Italian cooking and his crunch along with true potato taste ingredients and customer cosseting. operatic tenor continues to pull a and texture. large, diverse audience after 35 years. Desserts ($8) of note: a moist, La Cantina Toscana ½ chocolaty brownie with diced fruit 1109 First Ave. (between East 60th Gargiulo’s and cherry-butterscotch sauce; and East 61st streets), Manhattan. www.gargiulos.com spicy chocolate cake surrounding (212) 754-5454. Perhaps New York’s 2911 W. 15th St., Coney Island, white chocolate sauce; and a pizza purest Florentine food, in a casual Brooklyn. (718) 266-4891. Starting topped with Nutella, mild cheese 38-seat hideaway. Wild game, offal, its second century, this giant Nea-

buck ennis and both white and dark chocolate 200 wines, and baby eels for $10.95. politan is as clean and fresh as the WINE CELLAR-LIKE SETTING: Italian restaurant Accademia di Vino features a variety of dining sauces. Two gentlemen of Florence pre- clams in its linguini con vongole. environments, including cozy alcoves, and 5,000 Italian bottlings. The massive wine list, offered in pared 200 dinners for the Italian a scholastic-type binder, contains a ambassador. Nizza wealth of descriptors of varietals, 630 Ninth Ave. (between West plus unusual detail on wines by the Shelly’s Tradizionale ½ 44th and West 45th streets), Man- glass. Proprietor Mazzola previous- www.shellysnewyork.com hattan. (212) 956-1800. Riviera- 41 W. 57th St. (between Fifth and accented tapas by chef Andy Italian team Sixth avenues), Manhattan. D’Amico shine in this café-wine hits East Side (212) 245-2422. Shelly Fireman’s bar near the theater district. Accademia di Vino At Accademia di Vino, Chef IT’S TAX Garcia lays on scores of hot and cold uses winning recipe antipasti with attention paid to crudo, carpaccio, tartare, salumi and TIME of small plates, many cheese choices.Leaving no contem- M&K BUSINESS HEROES wines; lots of noise porary Italian notion untouched, In the real world, we’re CPAs. the kitchen grills its super-crisp piz- To our clients, we’re Superheroes. zas. Great with drinks is a robiola AND t’s a mouthful, and it’s not and pecorino cheese pie with black a school, but Accademia di truffle paste. Four people get two ACCADEMIA Vino is a welcoming reposito- slices each from the pie. DI VINO ry of delicious Italian food Among other tapas-type fare ($4 1081 Third Ave. (between East WE’RE and wine. Tasty small plates, to $15) are impeccably fried tempu- 63rd and East 64th streets) for the most part, and hundreds of ra-style shrimp (heads and tails on); (212) 888-6333 I accademiadivino.com wines surround guests in an excit- and standout beef tartare incorpo- READY ing, wine cellar-like setting. rating onion, olives, capers, arugula, Prodigious ambient noise bot- paprika, anchovies and a quail egg. tled up in ADV banishes ghosts of The Providence-style fried calamari CUISINE Italian FOR previous tenants such as Mainland, dappled with fried fresh herbs are WINES 560 choices, 38 by the Wild Tuna, Ollie’s, Fiorella and first-rate. glass Shelly’s Brooklyn. All 200 seats are More small treasures: grilled subterranean, with wine bars on scallops with cauliflower and caper- DRESS Casual ACTION! each of two levels. berries; and Kobe beef carpaccio NOISE LEVEL INTIMIDATING Decor devised by Jack Baum of with the initials “ADV” drizzled on PRICE RANGE $23-$40 Tree House Design features backlit it in wasabi. walls of wine bottles and a glassed- Gnocchi alla Romana—two thick WINE MARKUP 70%-280% in storage room housing 5,000 Ital- slices the circumference of a tennis CREDIT CARDS All major ian bottlings. There are a variety of ball—are boring. Otherwise-tasty dining environments including roasted carrots with cumin and or- RESERVATIONS cozy alcoves in the lower,larger din- ange, and charred Brussels sprouts Recommended ing room. with Parmesan, don’t work as well HOURS Lunch and Dinner daily, Veteran restaurateur-wine buff cold as hot. noon-midnight; Brunch, Sat.-Sun., Anthony Mazzola is the man who Salads big enough for sharing in- noon-3 p.m. Marcum & Kliegman LLP finally solved the location’s chal- clude specials such as baby lettuce Certified Public Accountants & Consultants lenge. To transfer some magic from = Outstanding wilted with the addition of very his Upper West Side hit ’Cesca, he soft-cooked scrambled egg and = Excellent = Very good www.MKLLP.com gave a Vespa to its chef, Kevin Gar- pancetta, or a trifecta of radicchio 800.921.0777 cia, so he can work both sides of types in a toss of tarragon vinai- = Good town with ease. grette, pecans, pralines and Gor- NEW YORK MELVILLE GREENWICH GRAND CAYMAN

April 14, 2008 | Crain’s New York Business | 35 Project2 4/7/08 11:22 AM Page 1