sign in sign up
<<
Home , Arthur Ashe Stadium, Jay Walder, Lawrence Jacobs, Preston Robert Tisch

20110725-NEWS--0001-NAT-CCI-CN_-- 7/22/2011 8:57 PM Page 1

INSIDE FUTURE OF NY CRAIN’S TOP STORIES CONFERENCE Self-employed and WRAP-UP seeking mortgage? Big Apple targets tech jobs. Look out, Good luck with that ® SMALL BUSINESS, PAGE 3 Silicon Valley P. 14 REPORT: City’s VOL. XXVII, NO. 30 WWW.CRAINSNEWYORK.COM JULY 25-31, 2011 PRICE: $3.00 power patrons of the arts After exit PAGE 16 Jazz at Lincoln of Walder, Center is rocking its numbers rough ride PAGE 2 , conflict for MTA pro, tries hand at saving Murdoch Successor will face IN THE MARKETS, PAGE 4 union conflicts, grave The reason critics lack of resources question Walmart’s I BY JEREMY SMERD charitable impulses GREG DAVID, PAGE 11 The surprise resignation of Metropol- itan Transportation Authority Chair- man is as much an indict- ment of ’s hobbled transit BUSINESS LIVES system as it is an endorsement of his new employer,the privately owned and highly profitable MTR Corp., which provides public transit in Hong Kong and mainland China. Transportation advocates have long argued that investment in mass transit is essential to maintaining New See ROUGH RIDE on Page 28

GOTHAM GIGS Eateries Rowing boats to a BX better life P. 29 A BRONX TALE, INDEED: Borough sees crave the ● ANNE FISHER Hey, entrepreneurs: Don’t big gains in people, jobs and wages. neglect your personal finances P. 29 Welcome to ‘the last bastion of opportunity’ ‘A’ grade ● MOVERS & SHAKERS WNBA’s new chief P. 30 The story of today’s Bronx has been overshadowed At one-year mark, BY DANIEL MASSEY ● GAEL GREENE BLT by fallout from the City Council’s rejection in 2009 of system causes pain, Steak’s great freebies P. 31 a plan to redevelop the .The mall If there was any doubt that the Bronx has put its in- project would have created 2,200 jobs, but its devel- but diners love it famous past behind it, consider this: native oper would not agree to “living wage” mandates. Bill Long decided to call his new Maspeth,Queens- The controversial rejection prompted criticism of INDEX based company Bronx Toys. how such a poor borough could turn down a chance BY LISA FICKENSCHER “I’m not from the Bronx,but what’s more New York to add jobs of any kind, but in the meantime, the THE INSIDER ______8 than the Bronx?” he said. “It just rings of New York.” Bronx has quietly made gains. Wages are growing Waldy Malouf,the chef-owner of Bea- VIEWPOINT ______10 The launch of Mr. Long’s company, which makes faster than in any other borough, job growth is out- con, has been asked by several con-

REAL ESTATE DEALS PLUS ______12 NYPD- and FDNY-licensed toys, is just one sign of pacing the city’s as a whole,and the Bronx has become cerned patrons about the “Grade

CLASSIFIEDS ______20 the Bronx’s shifting fortunes. The borough that lost a mecca for immigrants, adding more foreign-born Pending” sign posted in the restau- 21% of its population in the 1970s added 52,458 peo- residents in the last decade than any other borough. rant’s entryway.One customer wanted FOR THE RECORD ______24 ple last decade, topping each of the other four, census It would be a mistake to assume all is rosy,as deep a detailed explanation before she NEIGHBORHOOD JOURNAL ______26 figures show. Much of the growth occurred in south- pockets of poverty persist. Personal income climbed would book a party at the well-regard- HOT JOBS ______29 ern sections of the Bronx that once were devastated. 54% between 2000 and 2009, according to the Bu- ed midtown spot. EXECUTIVE MOVES ______29 “There was a time when people were running away reau of Economic Analysis, but at $28,500, it was With the city reaching the one-year

THE WEEK AHEAD ______31 from this borough,” said Radame Perez, president of still 71% lower than the level for the city overall.And anniversary of the letter grading system, Mastermind Development. “But that’s an old story.” See BRONX TALE on Page 28 See EATERIES on Page 26 30 5 ELECTRONIC EDITION NEWSPAPER 71486 01068 0 20110725-NEWS--0002-NAT-CCI-CN_-- 7/22/2011 8:21 PM Page 1

COMMENTARY Murdoch family values wenty-three years ago this very month, I was finishing a profile of Calvin Klein for New York magazine, then owned by Murdoch Magazines, which was run by . When Mr. Hinton re- Tsigned as CEO of the Dow Jones division of ’s . on July 15—becoming yet another corporate casualty of the HARMONIZING WITH DONORS: An endowment phone-hacking Mr.Klein’s friend campaign will be the next big project for Executive scandal—many and running Director Adrian Ellis. felt a surge of buddy, Barry schadenfreude. I Diller,at the time felt sad. Here’s one of Mr. Mur- why. doch’s key execu- The day I tives. I thought it started reporting spoke well of the the Calvin Klein organization that story, I flew to no one tried to Jazz at Lincoln Center Washington to stop me. cover a personal MICHAEL The night be- appearance by GROSS fore the piece the designer in a closed, Mr. Kos- steps up the tempo department ner had second

store, where I apparently thoughts about a column of buck ennis came between Calvin and his type in which I discussed Mr. clamoring fans. His handlers Klein’s fairly obvious bisexu- “Music, and jazz in particular, is a hustled him into a dressing ality, and he replaced it with Ticket sales, sponsorships hit highs passion point for our cardholders,” room, out of sight of the a picture of Mr. Klein with said Cheryl Guerin, senior vice presi- crowd that had come for the Bianca Jagger and an been smooth, though. JALC suffered dent of U.S.marketing at MasterCard launch of his Eternity fra- unidentified hunk at Studio BY MIRIAM KREININ SOUCCAR growing pains as it morphed from a Worldwide. “The ability to gain ex- grance. 54. fledging arts group, struggling to put clusive access and be a part of some of Another journalist sidled No good deed goes un- On July 25, the presale for individual jazz on a level playing field,with opera the unique concerts and events that up to me and whispered that punished: Mr. Klein kept his tickets for Jazz at Lincoln Center’s or classical music to the owner, in happen at JALC is priceless for them.” the star attraction had been out of the magazine for 2011-12 season begins. Some advice: 2004, of a $131 million, 100,000- Such accolades are no accident. spirited away because of my five years. Snap them up fast, because they won’t square-foot home in the Time War- Mr. Ellis has worked hard to market presence but that Kelly Klein, A month after the story last long. ner Center. Though Jazz at Lincoln Jazz at Lincoln Center to corpora- his then-brand-new wife, was published, Mr. Kosner The season opens with jazz greats Center has had just one artistic leader, tions,offering them perks like the best was somewhere in the store. summoned me to his office to Jimmy Heath and Jon Hendricks and Mr.Marsalis,it blew through four top seats at concerts and the use of the or- With nothing better to do, inform me that Calvin Klein’s includes a special concert administrators on the ganization’s stunning Allen Room for I found Ms. Klein PR man had tak- featuring artistic director business side over seven private parties. and asked her to Apparently, en our boss, Mr. Wynton Marsalis’ award- years. tell her husband Hinton, to the winning body of work in $40.2M Happily,that revolving Evolving relations that his handlers loyalty in the Four Seasons for honor of his 50th birthday. ANNUAL BUDGET door ceased spinning in “Relationships between cultural were being silly House of lunch and spent Annual subscriptions went for Jazz at Lincoln 2007 with the hiring of organizations and corporations are and counterpro- Murdoch the meal dis- on sale in March and are Center—equal to renowned arts consultant changing,”Mr.Ellis said.“We have to ductive. (They paraging my char- nearly sold-out. prerecession peak Adrian Ellis as the institu- be more focused on what we can offer had agreed to a has its limits acter. He insisted As other cultural tion’s executive director. them to meet their business goals.” profile months that I was using groups in the city continue Arriving just a year before In addition, Mr. Ellis is forming earlier, but then New York to snare to struggle in the after- the recession hit, Mr. Ellis partnerships overseas, which bring in reneged after Mr. a deal for a biogra- math of the recession, Jazz at Lincoln immediately trimmed 8% off the revenue for Jazz at Lincoln Center Klein checked phy of the design- Center has been hitting the high budget as the economy worsened, while building new audiences. Last into rehab,reportedly because er. (In fact, I’d already turned notes. Last season, the 24-year-old and—unlike many others—has been year, JALC began a 10-year residency of a dependence on Valium.) one down, unwilling to live organization sold a record 70,000 able to keep his organization out of at the Barbican in London,the largest I returned to the airport with Mr.Klein in my head for tickets for its concerts, up 20% from the red ever since. arts venue in Europe, which will in- and took the shuttle home. a year.) The flack offered a the previous year. Corporate sponsors Still, with a paltry $11 million en- clude workshops led by Mr. Marsalis By the time I got back to my devil’s bargain: If Murdoch are also stepping up. Earlier this dowment, Jazz at Lincoln Center ba- and concerts by the Jazz at Lincoln office, Barry Schwartz, Mr. Magazines fired me, New month, MasterCard upped its contri- sically operates without a financial Center Orchestra. Similar agree- Klein’s boyhood friend and York could have the ads back. bution in a new multiyear deal. No safety net,a problem Mr.Ellis is eager ments are in the works with venues in business partner, had called “So?” I asked nervously. wonder the organization’s current an- to remedy. An endowment campaign the Middle East and the Far East,Mr. New York’s publisher and “Go back to work,” Mr. nual budget of $40.2 million equals its will be his next big project, he says. Ellis said. canceled their company’s ad- Kosner said. prerecession high. For now, though, Jazz at Lincoln Jazz insiders credit Mr. Marsalis vertising commitment to the At that year’s office Center has a lot to celebrate. While with fostering much of the organiza- magazine, then worth about Christmas party, I finally got Stand-out performer the Ballet faces a $6 tion’s success. Besides passion, the fa- $1 million a year. the chance to meet—and “It’s hard right now for many cul- million deficit and the New York City mous Louisiana-born trumpet player I wasn’t sure what my boss thank—Les Hinton. “We tural institutions just to keep the doors Opera was forced to leave its home, brings star power. would do. I’d only recently would have had to back you open, and yet Jazz at Lincoln Center’s Jazz at Lincoln Center just unveiled a For the spring gala in April, ticket joined New York, and $1 mil- up even if you were wrong,” presence in the art world just contin- glitzy new entryway to its popular holders were treated to a special con- lion was a lot of money, so I he replied. “Thank God, you ues to grow,” said Loren Schoenberg, Dizzy’s Club Coca-Cola, paid for by cert with Mr.Marsalis and Eric Clap- asked the magazine’s editor, were right.” executive director of the National Jazz the sponsor. Next month, the organi- ton.The gala raised more than $3 mil- Ed Kosner,if he wanted me to Apparently, loyalty in the Museum in Harlem.“It is becoming a zation will be featured in Master- lion, a record for the event. Ⅲ back off.He said no.So I went House of Murdoch has its major cultural force, like the Metro- Card’s Priceless New York campaign at it,preparing an 8,000-word limits after all. The CEO is politan Museum of Art or MoMA.” for the first time, as part of a sponsor- LISTEN to a discussion at CrainsNewYork.com/podcasts profile. I even interviewed dead. Long live the king. The ride to the top hasn’t always ship extension.

2 | Crain’s New York Business | July 25, 2011 20110725-NEWS--0003-NAT-CCI-CN_-- 7/22/2011 8:36 PM Page 1

IN BRIEF KARMA MAY BE GETTING THE OWNERS OF THE Bad boy returns FORMER BUDDHA BAR. AFTER YEARS OF LEGAL troubles, creditors for the pan-Asian restaurant now known as Ajna Bar filed a petition that pushed the business into involuntary Chapter 7 Radio renegade Randy Michaels’ latest bankruptcy protection on July 19. Although such a bankruptcy filing indicates that the venture is already stirring up trouble eatery, once a hot spot for celebrities like Heidi Klum, Sarah Jessica Parker and Eva Mendes, The company and its Chicago-based backer, will shut down, an attorney representing BY MATTHEW FLAMM private-equity firm GTCR, are betting that current management said that there are no there is still money in the radio business, partic- plans to close anytime soon. In fact, even the A new radio format will surface on the New ularly on the FM dial, which attracts a younger, presiding judge has questioned the filing.The York dial next month,but that’s not why the in- more female audience than AM. Ob- legal drama—which includes competing dustry is buzzing about 101.9 FM, which un- servers are looking forward to owners and management groups, multiple til recently was alternative rock station WRXP. the kind of radio fight the in- lawsuits and even an alleged armed assault— More important than the rumored switch to a dustry hasn’t seen in years. dates back to 2007. news-talk hybrid, the relaunch will mark the “He’s a gifted, tough com- return of Randy Michaels, the media executive petitor,” said Jerry Del Col- NEXT WEEK, SEAMLESSWEB, THE ONLINE with a mixed business record and a controver- liano, a media consultant RESTAURANT ORDERING SERVICE, IS sial past. and founder of trade jour- changing its name to Seamless and relaunching In October, he was pushed out of the CEO nal Inside Radio who had its website with lots of new bells and whistles. job at Tribune Co., following a story in The a dispute with Mr. The revised image is a culmination of a number New York Times describing the frat-house at- Michaels a decade ago of recent changes at the 12-year-old firm, mosphere Mr. Michaels had cultivated at the that led to dueling law- including a $50 million investment last month bankrupt company and the havoc he wreaked suits.“And he’ll do any- by Spectrum Equity. Ⅲ on its media properties. thing [to win].” But as a radio executive, Mr. Michaels, 59, Mr. Michaels has al- is known as a fierce competitor who has built ready gotten under the BY THE NUMBERS businesses worth billions. And he certainly skin of CBS Radio in Chica-

knows how to keep the industry entertained. go. Merlin Media and the Weekly shift of the city’s economy

industry giant have sparred

Riveting THE HEAT WAVE notwithstanding, the U.S.  over a trademark,but more  The trade press has been riveted since Mr. important, CBS has an- economy seemed cool at best. Housing resales sank, and Goldman Sachs and other banks Michaels announced in June that he had nounced that it will con- uncorked layoffs. Life is not a beach. launched Merlin Media and had paid more vert an FM music station than $110 million for majority stakes in three there to all-news via a Emmis Communications stations. The other simulcast of its top-rat- two, also FM, are in Chicago. ed AM news station. 7,196 1,400 2.7% BRILLIANT RASCAL: Mr. TWEETS sent per JOBS added in DROP in NYC Mr. Michaels immediately began hiring in- Chicago media ob- Michaels lost his job at second during the NYC in June, bridge and tunnel dustry veterans,including Greg Janoff,a former servers have described Tribune Co. last fall, then Women’s World bringing this crossings Jan.- general manager of 1010 WINS; Liz Aiello, the change as a pre- procured private-equity Cup soccer final, year’s total gain April vs. the year- a record to 42,700 earlier period who was an executive with Martha Stewart emptive move as Mer- backing for Merlin Media. Source: Twitter Source: Eastern Source: Metropolitan Living Omnimedia; and Walter Sabo, a pro- lin prepares to roll out Consolidated Transportation grammer known for innovations in the talk for- its news-talk format, sally ryan Authority mat. Merlin Media also plans to build a net- but CBS executives HARDLY A HOUSING BONANZA Though they rose after work of stations around the country. See RADIO on Page 26 the recession ended, sale prices of condos and co-ops sagged again in the first half of the year. Mortgages elude self-employed ‘Unsteady’ income, tighter-fisted banks make home financing Sources: Prudential Douglas Elliman, Miller Samuel Inc. especially hard to get ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY BY WENDY DAVIS CORRECTIONS AND CLARIFICATIONS When Brian White, a self-employed the- CBRE represented sublessor Dow Jones & Co. in the Financial ater production manager, tried to obtain a Industry Regulatory Authority’s 204,067-square-foot sublease at 1 World Financial Center. The sublandlord and the sublandlord bank mortgage for a co-op apartment in rep were misstated in CoStar’s list of first-half Manhattan office Harlem, he found the task shockingly in- leasing deals in the July 18 issue. surmountable. Mount Sinai Medical Center, Let’s Erase the Stigma and Rouse Mr. White, 40, spent much of 2010 House Entertainment (whose name was misstated) are clients of seeking financing for his new home—a New Venture, where Cheryl M. Mann is principal. This was not two-bedroom unit at presented clearly in the July 18 “Résumé Review.” SMALL West 152nd Street and Skanska USA is advising North Shore-LIJ Health System on an Amsterdam Avenue TOUGH TIMES FOR SOLE emergency department at Staten Island University Hospital. The BUSINESS facility was misidentified in the July 18 article “Builders and selling for $150,000. PROPRIETORS: Warburg Realty architects: singing their hallelujahs.” Also, the $90 million During that time, he broker Shirley Hackel says that projection for 2011 revenue at Skanska’s New York office is for consulted with two mortgage brokers and many of her clients are paying health care-related work alone. This point was not stated clearly. filled out applications at five banks. cash for property.

karjean levinekarjean vol. xxvii, no. 30, july 25, 2011—Crain’s New York Business (issn 8756- The ol’ Bank of Mom and Dad 789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications Inc., “Half the time, the banks wouldn’t re- While the financial collapse of 2008 “The rigid climate is really causing hav- 711 Third Ave., New York, NY 10017. Periodicals postage paid at New turn phone calls,” complained Mr. White, has resulted in tighter credit all around, oc for the sole proprietor,” said Manhat- York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, 1155 who has supported himself as an inde- many self-employed people are having an tan-based real estate broker Shirley Hack- Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: pendent contractor since 1996. Eventual- especially difficult time obtaining mort- el, executive managing director at Call (888) 909-9111. Fax (313) 446-6777.$3.00 a copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ly, he says, he borrowed the money direct- gages as banks toughen their lending cri- Warburg Realty Partnership. She says that ©Entire contents copyright 2011 by Crain Communications Inc. ly from his parents in an intra-family teria, said professionals involved in the many of her clients, who typically have All rights reserved. mortgage. housing industry. See MORTGAGES on Page 28

July 25, 2011 | Crain’s New York Business | 3 20110725-NEWS--0004-NAT-CCI-CN_-- 7/22/2011 7:49 PM Page 1

Startups try new exit strategy: IN THE MARKETS selling themselves to Google by Aaron Elstein

A cash-rich buyer facing a still-weak IPO market, in tion of the process of buying and which hurdles for going public have selling,”said Joe Apprendi,chief ex- can be the next-best been rising.Smaller startups,in par- ecutive of Collective, a Manhattan- If it’s Tuesday, this must be France’s thing to a tech IPO ticular, may have customers and based firm that has bought three compelling technologies, but not companies this year as it builds an turn to beat up Fitch, Moody’s, S&P long-term stand-alone businesses. integrated platform to serve adver- BY JUDITH MESSINA “[Startups can occupy] a very tisers and publishers.“The market is ll the talk about Moody’s and Standard & Poor’s perhaps tentative and unpredictable life begging for simplicity; it’s begging stripping the U.S. of its cherished AAA credit rating Silicon Alley watchers were wowed space,” said Bruce Niswander, direc- for consolidation.” leads by Google’s announcement last tor of technology transfer at Poly- to an obvious question: How hard do government month that it had agreed to buy Ad- technic Institute of New York Uni- Recent ad-tech sales A officials try to sway the powerful ratings agencies? One seldom meld, a Manhattan-based firm that versity.“If Google changes one thing At least 10 New York companies hears about the issue. But a helps websites sell ad space. Even or Facebook does something differ- have been acquired in the 12 months more impressive: the $400 million through June—five of them in just report last week from estimated purchase price. At least 10 NY the past six months. Last summer, Britain’s House of Lords, of all Google-Admeld could be just Google picked up Invite Media, an places, helps shed some light the beginning. Google, which ad-tech startup that works with ad- bought 26 startups and companies companies have vertisers to deliver display ads across on this murky corner of the last year, has racked up 14 deals so been acquired various websites. markets. far this year. And the tech M&A In January, San Jose-based Witness testimony in the market is expected to get even hot- Adobe acquired Demdex, which report makes it clear that ter when Facebook, Groupon and in 12 months helps advertisers target online audi- Twitter go public and start spending ences.In April,Chicago-based Me- countries worldwide privately apply as much muscle as they cash from initial public offerings to diaBank bought AdBuyer, whose can to protect their credit ratings. “You inform the Greeks of a fill the gaps in their services. technology helps companies pur- chase ad space. Dallas-based DG rating decision and you get phoned have no more stomach for this kind The real deal ent,it could cut the legs out from un- announced last month that it would up by the French,”Fitch Ratings Pres- of give-and-take, especially after “I don’t see this as some kind of der many of these applications.” buy publicly held MediaMind. ident Paul Taylor testified. “That is their reputations were savaged fol- bubbly, short-term phenomenon, Buyers, meanwhile, are trying to New York-based companies are quite disturbing in some ways. … lowing the mortgage debacle. All of but an active sector for some period,” develop soup-to-nuts capabilities in emerging as buyers, too. Last fall, This idea of control on us, and them told the House of Lords that said M&A adviser Terence Kawaja of an increasingly fragmented and in- Operative Media acquired a fellow therefore on the markets, is a little it’s a dreadful idea to mandate more Manhattan-based Luma Partners, efficient market for online ads. For New Yorker, Solbright, which helps unnerving.” talks between the raters and the rat- which counseled Admeld in the deal. example,there can be as many as five websites manage advertising. Dur- Intriguing. Yet vague. Fortu- ed, something European regulators “The amount of innovation is only players between creation and deliv- ing the same period, Undertone nately, former senior S&P analyst are considering. accelerating. We’re in for a long ery of a digital ad, with each player scooped up video company Jambo Barbara Ridpath provided some Under existing rules, countries run—my business is exploding.” taking a cut. Media. And two months ago, Bud- color. She testified that her group and companies in Europe have a 12- Being acquired is emerging as a “There’s a need among mar- dy Media picked up Manhattan- once lowered a Latin American na- hour period to review ratings popular exit strategy for founders keters and publishers for simplifica- based Spinback. Ⅲ tion’s rating to a speculative grade, changes before publication. In the- which drove down the value of its ory,this is to correct factual errors or debt. When the country’s finances ensure that confidential data aren’t started to improve, S&P thought it released; in reality, the window is was time to award a higher rating. used to strong-arm the rating agen- “They said, ‘Oh no, please cies. A European Union proposal CRAIN’S PRESENTS: don’t,’”Ms.Ridpath recalled.“ ‘We would extend the review period to are buying this debt back at incred- three full days. ibly low prices, and we are helping “Three days is a long time,” orporate vents this country so much. Please keep clucked Moody’s European head, C E & the rating as low as possible.’ ” Frédéric Drevon.“It creates a possi- oliday arties 2011 When S&P upgraded the coun- bility for issuers to try to influence H P try’s debt anyway,“they were as furi- the rating agency.” ous to have their rating raised as One can only imagine the sorts Crain’s New York Business’ annual Corporate Events & many are to have it lowered,” Ms. of pressure that U.S. officials might Holiday Parties sponsored section caters to meeting Ridpath said. have been applying to the agencies and event professionals with tips and expert advice on The ratings agencies apparently in recent weeks. planning successful corporate events in New York. ’s other hot seats Timed to reach New York’s event professionals while Attention, baseball fans who root knowledge of broadcasting and cable they are gearing up to make holiday event plans, for (or against) the New York Yankees: TV are surely relevant. this feature includes must-read information for There’s a Murdoch on board. Mr.Murdoch,38,is also on the those navigating the event planning scene in the James Murdoch—the deputy boards of auction house Sotheby’s, city. Don’t miss this unique sponsored section chief operating officer of News where he sits on the compensa- appearing in Crain’s New York Business. Corp. who appeared next to his tion committee, and drugmaker dad, Rupert, at last week’s GlaxoSmithKline. parliamentary hearing to Glaxo has had its own explain their company’s scandals. Last October, it penchant for hacking pleaded guilty to charges people’s cellphones—has that it knowingly sold taint- d lose: ugust 25 served on the board of ed products, such as baby A C A the team’s parent, Yankee ointment and a diabetes ssue ate: eptember 12 Global Enterprises, since drug, and agreed to pay I D S 2004. His duties are un- $750 million in penalties. clear, and a Yankee Those sales took place be- spokeswoman would fore Mr. Murdoch joined www.crainsnewyork.com Ⅲ not comment, but his the Glaxo board in 2009. bloomberg news Value of the Federal Reserve’s portfolio of government bonds, mortgages and related securities $2.654T acquired through “quantitative easing” and other programs. Before the economic crisis, the Fed’s balance sheet was typically about $700 billion and consisted almost entirely of AAA-rated U.S. government bonds.

4 | Crain’s New York Business | July 25, 2011 Project3:fp template.qxd 7/19/11 1:05 PM Page 1

SHELLEY BOVERO Owner of Marin County Arborists

Shelley Bovero, owner of Marin County Arborists, knows trees. She also knows Verizon technology helps her small business run more efficiently. Whether she’s giving real-time estimates on her tablet or using her smartphone to connect with her crew on-site, she’s more responsive than the competition.

Cutting-edge devices, unrivaled support, and the fastest, most advanced 4G network in America. No wonder more small businesses choose Verizon Wireless than any other wireless carrier.* Business Apps

VERIZON 4G LTE — TWICE AS FAST AS AT&T.

TO GET THE BEST TECHNOLOGY FOR YOUR BUSINESS, 1.800.VZW.4BIZ(4249) SEE A SMALL BUSINESS SPECIALIST AT A VERIZON STORE TODAY. verizonwireless.com/smallbusiness

*Results based on third-party study. Twice as fast claim based on comparison of Verizon’s 4G LTE vs. AT&T’s HSPA+ network. 4G LTE is available in 55 metros & 70 major airports in the U.S.; coverage maps at vzw.com. LTE is a trademark of ETSI. © 2011 Verizon Wireless. D8552 20110725-NEWS--0006-NAT-CCI-CN_-- 7/22/2011 7:49 PM Page 1

NEW YORK,NEW YORK edited by Valerie Block Powered by

Introducing Crain’sCrain’s VIP Event AcceAccess Program: Insider access to New York’s premier events. As a reader, you are entitled to use of Crain’s Concierge services, to buy the best tickets to the best events in New York. GRAND AUGUST 29TH- SEPTEMBER 11TH STADIUM

ENJOY NYC AT ITS FINEST WITH THE BEST SEATS IN THE HOUSE! Featuring NYC’s widest selection of ticket inventory, all of the exclusive ticket packages in Crain’s VIP Event Access Program are VIP quality, often priced below prevailing market rates with no additional service fees. levinekarjean ACT NOW FOR BEST TICKET SELECTION. Indie bookseller branches out PACKAGES orders may be going through liquidation, but not all bookstores are dying. Independent retailer Posman Books has just reached a deal to open a shop in the concourse at Rockefeller Center. ¶ Located below street level, between the ice COURTSIDE + LIMO PACKAGE: B skating rink and the subway, the 1,400-square-foot store will be Posman’s third Manhattan 2 courtside box tickets to session of tennis location.The indie has its flagship in Grand Central, as well as a Chelsea Market outlet that Private sedan transportation to/from the tennis center* opened two years ago. ¶ The Rockefeller Center store will cater to the local office Event concierge available and on-call to facilitate all aspects of the population and to tourists, according to Robert Fader (above), Posman’s buyer, who package negotiated the lease with landlord Tishman Speyer. ¶ Given its small footprint, the new All taxes and gratuities spot will offer a tightly focused inventory that’s heavy on categories that have weathered the BONUS: Full access to the exclusive ACES and Champions Bar & transition to e-books, including business and children’s selections. It will also carry new Grill at the U.S. Open (not available to the general public) fiction and nonfiction, as well as guides and other books about New York City. ¶ “I think of PRICES STARTING AT $1,500 PER PACKAGE it as a quality airport bookstore,” Mr. Fader said. ¶ He plans to have it open by the beginning of October, in time for the holiday shopping season. —matthew flamm * Eight hours of paid transportation. Destination start/end point must be within 40 miles of tennis center the best deal from at least five and execute a fundraising event COURTSIDE BOX PACKAGE: Imposing order venues that vie for their business. for the charity of their choice.The on the club life —lisa fickenscher events kicked off last week and 2 courtside box tickets to session of tennis will run through Aug. 15. Exclusive tennis gift package Night crawlers, meet NiteTables. On July 26, participants in a The website, launching on Team-building “foodie scavenger hunt” will visit Event concierge available and on-call to facilitate all aspects of the package Aug. 1, will allow patrons to make for a better cause restaurants throughout the city, reservations enjoy treats and gather items, all All taxes and gratuities while it helps One major New York law firm is to benefit the Community BONUS: Full access to the exclusive ACES and Champions Bar & bars and giving team-building new Kitchen & Food Pantry of West Grill at the U.S. Open (not available to the general public) clubs reduce meaning. Harlem. the number Weil Gotshal & Manges gave A dodgeball tournament on PRICES STARTING AT $750 PER PACKAGE of no- 28 employee groups Aug. 10 at Reebok Sports shows. $1,000 each to create Club near Lincoln Center Customers will raise money for Only COURTSIDE LOGE PACKAGE: who use the Make Believe, which 2 loge box tickets in Rows A-C to session of tennis service will be required to pay a IF YOU WERE brings theater to children deposit. “They will have a little A GROOM in hospitals and other Exclusive tennis gift package more skin in the game,” explained care facilities. ROD AND RICKY, co-founder Matt Bosso (above), Meredith Moore, Event concierge available and on-call to facilitate all aspects of the the same-sex package who is also an on-air host for Weil Gotshal’s puppets from All taxes and gratuities 103.5 KTU. director of global Venues will be charged a fee for the Tony diversity, said the BONUS: Full access to the exclusive ACES and Champions Bar & each reservation and a monthly Award-winning financial downturn Grill at the U.S. Open (not available to the general public) licensing fee for NiteTables’ musical Avenue Q, tied the spurred the firm to do knot at City Hall on Sunday, July PRICES STARTING AT $300 PER PACKAGE software.The company has signed relevant charity work that up nearly 100 businesses, 24—the first day same-sex mar- would also establish stronger according to Mr. Bosso, though he riages were legal in New York bonds among employees. OR…CUSTOMIZE YOUR OWN PACKAGE OR SIMPLY PURCHASE INDIVIDUAL TICKETS. declined to identify them before state. Still appearing eight times “With the economy how it’s the launch. a week in the show at New been in the last few years, it Other entrepreneurs are World Stages, the newlyweds doesn’t feel right to do cocktail PLEASE CONTACT OUR CONCIERGES at targeting the city’s popular haven’t chosen a honeymoon parties,” Ms. Moore said. “We [email protected] or CALL 877-323-7759 nightspots, too. Venugo.com, destination yet. wanted to do something more which went online in April, lets —VALERIE BLOCK meaningful.” groups planning a night out select —miriam kreinin souccar

6 | Crain’s New York Business | July 25, 2011 Project3:fp template.qxd 7/19/11 1:04 PM Page 1

AT LAST, BUSINESS CHECKING EARNS LIKE SAVINGS. % 1.10 APY For the fi rst year

INTRODUCING CLEAR INTEREST BUSINESS CHECKINGSM

This changes everything. Well, at least the small business checking part. Open an account by October 2nd and – for the first time ever – you’ll get 1.10% APY for the first year on balances of $10,000 to $100,000, and a competitive rate thereafter. • No monthly fees on balances of $10,000 or more • 300 free transactions per month • Only 25 monthly transactions required to earn interest

Talk to a business specialist today Call 888-755-BANK or visit ClearBusinessChecking.com

Advertised annual percentage yield (APY) in effect as of 07/21/11. For the fi rst year, 1.10% advertised APY applies to balances of $10,000–$100,000; 0.05–0.50% APY on other balances, depending on the account balance. After that, the standard APY in effect as of that date applies to the entire balance which may change after account opening. No monthly charge with a minimum average daily balance of $10,000 or more; otherwise, an $8 service charge applies. For deposits over $10,000, a $1 fee per $1,000 cash deposit applies. Transactions over 300 per month are each charged a $0.17 fee. Minimum of $3,000 to open for new customers. Limit one account per business. Existing small business checking customers are eligible for the promotional APY with conversion request and $10,000 in new deposits within 30 days of conversion. Visit a branch for details. Offered by Capital One, N.A., member FDIC. ©2011 Capital One. All rights reserved. 20110725-NEWS--0008-NAT-CCI-CN_-- 7/22/2011 7:50 PM Page 1

members—include more modest concessions. Families will pay a maximum of 31% of the premium. DREAM JOB Middle of a conflict THE INSIDER The state will continue to pay for THE PHONE-HACKING SCANDAL that has engulfed seniority increases. And a wage News Corp. is tailor-made for former New York City by Jeremy Smerd and Shane Dixon Kavanaugh freeze in the third year will be offset schools chancellor Joel Klein (right), the man with a $1,000 bonus. backing Rupert Murdoch in his hour of need. Moreover, a four-day “furlough” Last week, the world was introduced to the next year is really a vacation with bald and bespectacled 64-year-old, who in his pay deferred until 2015-16.The nine years in city government had become the Cuomo administration also will symbol of the Bloomberg administration’s Cuomo’s contract give union members who turn unbending effort to transform the city’s public down health benefits as much as schools. $3,000, an idea that CSEA Sitting behind Mr. Murdoch while the 80-year- newscom proposed. Union members can now old media titan testified before a British parliamentary committee—and nearly sweeteners choose to give up six days of taking a pie in the face from a detractor—Mr. Klein was once again at the vacation in exchange for a $1,000 heart of a conflict and, observers said, in his element. discount on health care premiums. As chancellor of the city’s schools, he fought the teachers unions and ov. had hoped his negotiations “This wasn’t typical,” said Laura Balogh, who negotiated health closed failing schools. Heading the Department of Justice’s antitrust division, with Council 82’s leadership would set a benefits for CSEA. he broke up one-time corporate behemoth Microsoft. precedent for his talks with the larger state What made the process “He’s used to operating in the realm of conflict, but normally he’s the one employee unions, the Public Employee atypical were the actions of Todd starting the conflict,” said a teachers union official. “That’s not the case here.” Instead, he is defending an executive, much as he did when he was in the Federation and CSEA. Unfortunately for Snyder, a Rothschild managing director tapped by Mr. Cuomo to White House counsel’s office under President Bill Clinton. Gthe state, they did. find savings. Mr. Snyder was less “He’s dealt with Bill Clinton, Michael Bloomberg and Rupert Murdoch,” Council 82 initially agreed in interested in managing the state’s said Whitney Tilson, a school reform advocate and an admirer of Mr. Klein’s. April to freeze wages for three health care dollars than in finding “All of them have had various degrees of crisis. He’s been dealing with this a years, eliminate seniority immediate savings. “This long time.” gentleman was out to save Mr. Klein left City Hall in November to become a senior adviser to Mr. increases and require members money,” Ms. Balogh said. “He Murdoch “on a wide range of initiatives, including developing business strategies to pay 35% of family health plan wasn’t an expert in health care.” for the emerging educational marketplace,” News Corp. said at the time. premiums, up from 25%. But in But an insider says that even before the scandal broke last month, Mr. May, the law enforcement union Job security Klein had moved into the office next door to the chairman’s at News Corp. headquarters at 1211 Sixth Ave. The move suggested a more prominent role rejected the contract, which a for Chris Ward for Mr. Klein—perhaps that of general counsel to replace Lawrence Jacobs, spokesman for CSEA said who left in early June. last week marked a turning Jay Walder’s departure from the Shortly after the scandal broke, Mr. Klein was picked to oversee the MTA makes it unlikely that company’s internal investigation. point in its negotiations the Cuomo administration with the governor. will soon seek a replacement Recently announced for Port Authority Executive deals with CSEA and Director Chris Ward,an someone for the Port Authority,” state’s $134 million environmental insider said. “With a said the source. protection fund, he balked on a PEF—which have yet to vacancy at the MTA,they Mr. Ward is a Paterson adminis- solar-jobs bill and failed to curb be ratified by union won’t be in a rush to find tration holdover serving without a carbon emissions. “There has not newscom contract. Gov. Andrew Cuomo hasn’t been a lot of leadership from the made any commitment to keep him governor,” one environmentalist beyond this year. said. Others are ambivalent about Mr. Cuomo’s actions on Cashiers for Liu “hydrofracking.”They recognize Eight hundred dollars is about two that his resolution will likely try to weeks’ worth of wages for the satisfy both proponents and cashiers at the Great Wall opponents. “He’s very cognizant of JOIN CRAIN’S Supermarket in Flushing, Queens. the politics on both sides,” said an It’s also the amount that several insider, “and he’s trying to thread checkout workers recently gave to the needle between them.” city Comptroller and possible 2013 ADVISORY PANEL mayoral candidate John Liu. Chancellor When asked if Mr. Liu’s campaign would verify that the promises change donations were not reimbursed by a supporter trying to circumvent Before accepting a job as a deputy contribution limits, Liu campaign chancellor at the Department of consultant Chung Seto said: “People Education, David Weiner asked assume Asian-Americans, whether Chancellor Dennis Walcott what he we’re cooks, busboys or cashiers, expected to be able to accomplish can’t make a wage and make in the final two and Looking for readers to share views and opinions. enough to support the candidate of a half years of the our choice. I think it’s a ridiculous Bloomberg assumption. We’ve seen administration. Mr. hardworking men and women Walcott is known across the city contribute to the more as a campaign, and we’re grateful.” conciliator than as a Dennis Walcott reformer, but Mr. Weiner said that Environmental the chancellor replied: “There’s record still foggy absolutely no way we’re sticking with the status quo. We need to Green groups remain uncertain change what’s happening.” Sign up for FREE today. CRAIN’S NEW YORK BUSINESS about where Gov. Andrew Cuomo The deputy, who arrived last stands on the environment. While month from Philadelphia, gave the www.crainsnewyork.com/advisory he secured passage of a power account at a Crain’s conference last plant-siting law and didn’t cut the week. Ⅲ

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

8 | Crain’s New York Business | July 25, 2011 Project1:fp template.qxd7/15/114:18PMPage1

©2011 Consolidated Edison Company of New York, Inc. Ad: Arnell Group for 100+ energy savingtipsvisitconEd.com orfinduson FacebookatPower ofGreen for 100+ by... efficiency heater’s water your hot improve you can detergent withoutlaundry c. usingit whenit’s full b. usingitonly fewbigones ofa instead smallloads a. doingmany machine? your washing way to use efficient most energy what’s the bedtimestory c. reading ita blanket aninsulation b. wrappingitwith inuse whenit’s not itoffa. turning answer: b answer: answer: b answer: b. e*bill is... program Edison’s Con messagestopeoplenamedBill b. anemailprogram thatonlysends postagebypayingyourbillonline a. agreat waytosavetime,paperand c. one lasts aslongas... one lasts a. answer: a answer: answer: c answer: 20110725-NEWS--0010-NAT-CCI-CN_-- 7/22/2011 2:01 PM Page 1

VIEWPOINT The coming boost from tech editor in chief Rance Crain publisher, vp Jill R. Kaplan ilicon Valley, for all its virtues, is not the most MIT of its own. Our great, homegrown educational EDITORIAL exciting place to live. In fact, it can be a editor Xana Antunes institutions are not ignorant of the challenge. Columbia managing editor Glenn Coleman downright boring suburban sprawl that young, University, and CUNY have invested deputy managing editors Valerie Block, Erik Ipsen creative people put up with in order to work for considerably in their science and engineering programs. assistant managing editor Erik Engquist the cutting-edge technology companies there. But there is room for more, and fortunately, many schools senior producer, projects Kira Bindrim senior producer, news Elisabeth Butler Cordova New York City is the opposite: a vibrant, are drooling over the city’s offer. No fewer than 18 proposals contributing editor international city where young, creative people from 27 institutions were submitted in response to a request Elaine Pofeldt columnists Greg David, Michael Gross, tolerate their tiny apartments so they can enjoy an last December for expressions of interest, a precursor to last Alair Townsend unmatched combination of culture, diversity and career week’s RFP.The administration is expected to pick a winner pulse editor Barbara Benson S senior reporters Theresa Agovino, opportunity. (or two) this year and could see construction start in 2013. Aaron Elstein, Lisa Fickenscher, Silicon Valley’s tech sector dwarfs New York’s. But given If we had to place a wager, we’d say the odds favor an out- Matthew Flamm, Miriam Kreinin Souccar reporters Amanda Fung, Shane Dixon Kavanaugh, all of Gotham’s advantages, it’s possible to imagine us of-towner like Stanford Daniel Massey, Adrianne Pasquarelli, challenging the West Coast for supremacy in tech—not this University or Ithaca- Jeremy Smerd Universities are art director Steven Krupinski year or even this decade, but eventually.To its credit, the based Cornell University, deputy art directors Carolyn McClain, Bloomberg administration is taking on that challenge. It but the mayor’s office has Daniel Mednick drooling over the staff photographer Buck Ennis understands that technology is becoming fundamental to promised to pick the copy desk chief Wendy Zuckerman city’s offer of land copy editor Thaddeus Rutkowski our entire economy. And City Hall is starting to pursue that proposal that offers the research editor Dana Gordon goal by investing in the key area in which Silicon Valley beats for a campus greatest economic assistant research editor Suzanne Panara research assistant Suzanne Bernard New York: engineering programs. benefit. As it should. research intern Jonas Altman-Kurosaki The city last week issued a formal request for proposals for The city is not editorial interns Irvin Ibarguen, an engineering and applied sciences campus, for which the without young Eliza Ronalds-Hannon, Jermaine Taylor, Ian Thomas city will provide land on Roosevelt Island, on Governors engineering talent, but EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 Island or at the Navy Yard, and up to $100 million typically, such individuals make a beeline for Wall Street. editorial: 212.210.0277 Fax 212.210.0799 in infrastructure work. We’ll never see the next Google or Facebook originate here advertising: 212.210.0259 Cable craincom nyk Back in the 1940s and 1950s, Stanford University’s dean if our innovators are snapped up by the financial sector.The Fax 212.210.0499 of engineering urged his faculty and graduates to turn their current pace of hiring on Wall Street is slow, however, Entire contents ©copyright 2011 Crain ideas into businesses.That gave rise to Silicon Valley, where giving us an opportunity to grow our tech sector. Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP high-tech giants mix with startups that attract a third of all For our creative types to flourish as entrepreneurs and Inc., used under license agreement. venture capital in the U.S. Until this year, even Boston—a diversify our finance-dependent economy, they must have TO SUBSCRIBE: For subscription information and delivery concerns, city less than one-tenth New York’s size—drew more academic support and laboratories to develop their ideas, please e-mail [email protected] venture capital than we did, thanks largely to the and affordable space to launch and expand businesses.The or call 877-824-9379 (in the U.S. and Canada) or 313- 446-0450 (all other locations.) $3.00 a copy, $59.79 Massachusetts Institute of Technology. New York could Bloomberg administration understands this, and we believe one year, $109.79 two years. greatly enlarge its footprint in this area, but not without an it is on the right track to do something about it. www.crainsnewyork.com ADVERTISING AND MARKETING advertising director Trish Henry senior account managers Irene Bar-Am, Courtney McCombs, Sheryl Rose, Suzanne Wilson CRAIN’S ONLINE POLL COMMENTS sales manager, classified print & online John Gallagher newsletter product manager WHAT CONCERNS YOU Alexis Sinclair credit Todd J. Masura 313.446.6097 MOST ABOUT NYC’S marketing director Amy Crossman Mad for Mad Avenue assistant marketing manager FUTURE? Sabra Harrison WE ARE TRES FASHIONABLE ARBITRATOR LEAVES THEM director, audience development Date of poll: July 20 NURSING A WOUND Michael O’Connor 158 votes Madison Avenue is recognized internationally senior audience development manager The growing gap as one of the world’s leading destinations for The Crain’s Health Pulse newsletter Tarek Cotran Security. If there were between the rich another terrorist fashion, and our significant influx of (crainsnewyork.com, June 21) reports that an director of e-commerce strategy and those scraping Kristi Serrano attack, NYC would give prestigious designer brands provides a more arbitrator ruled in favor of hospital employers to make ends meet. web developer, interactive up the gains it’s made accurate picture of the avenue than does your and against New York State Nurses Chris O’Donnell

since Sept. 11. July 18 article “Madison’s fall from Association members when he approved

NEW YORK PRODUCTION . fashionable.” new health benefits plans that increase

. 10% 40% Céline,Tory Burch and Vacheron co-pays and require employee contributions production and pre-press director Constantin will all open new flagship stores on to their premiums. Michael Corsi advertising production manager Madison Avenue for the fall season. Madison The tightening of the screws on ordinary Suzanne Fleischman Wies . 21% Avenue is abuzz with new shops, including workers is said to be “because of the 29% Agent Provocateur, Alice + Olivia, Chocheng, economy.” PUBLISHED BY CRAIN COMMUNICATIONS INC. . DeLaneau, Frey Wille, Hublot and Milly. But the same issue of Health Pulse contains chairman Keith E. Crain Rance Crain Budget cuts. Longtime Madison Avenue brands the latest installment of the long list of high- president More services Education. High secretary Merrilee Crain are being school graduates continue to invest in the district as well: six-figure and seven-figure salaries for hospital treasurer Mary Kay Crain slashed every are unprepared to Michael Kors launched its Collection Boutique executives. I guess those don’t get reviewed by executive vp, operations William Morrow year. Quality of enter college or four months ago, and last October, Ralph an arbitrator. senior vp, group publisher Gloria Scoby life will suffer. the work force. Lauren completed a glamorous mansion to —richard n. gottfried group vp, technology, circulation, manufacturing Robert C. Adams showcase its women’s, fine jewelry and home State assemblyman vice president/production & collections. Manhattan manufacturing David Kamis For New Yorkers and visitors alike, Madison chief information officer Paul Dalpiaz Avenue represents the ultimate in luxury CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) fashion. pages. Send letters to [email protected]. chairman Mrs. G.D. Crain Jr. (1911-1996) For this week’s questions: Go to —matthew bauer Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. President [email protected]. Please include the writer’s Madison Avenue Business Improvement District name, company, address and telephone number.

10 | Crain’s New York Business | July 25, 2011 20110725-NEWS--0011-NAT-CCI-CN_-- 7/22/2011 2:02 PM Page 1

OPINION

he reached agreement with the two largest unions representing state em- Guvs take different ployees on a three-year wage freeze, a five-day unpaid furlough this year, and increased employee and retiree contributions for health care.While paths to same goal these pacts must be ratified by mem- bers, passage is believed to be likely. Mr. Cuomo now turns to pen- overnors across the country have been seeking to sion reform. He has laid out an pare back public employee retirement and health agenda that will rein in costs sub- care benefits and restrain the growth in wages to stantially over the long term: raising the retirement age for most workers balance their budgets. Beset by shared prob- to 65,ending early retirement,curb- lems, governors from both parties have taken on ing pension-padding by eliminating public worker unions in unprecedented ways. Although their overtime in calculations of final av- G erage pay, and increasing employee goals are similar, Republicans and Democrats often differ in contributions to their pensions. His their rhetoric. As a result, Republicans are often excoriated for plan would cover new state employ- ees along with those of school dis- seeking what Democrat- to many local public tricts and local governments includ- ic governors want as well. workers as well. While ing New York City, so the savings That dynamic is on Mr.Christie was reviled will affect every area of the state. view here in the tristate by most union officials Gaining legislative approval for area, where Democratic for his confrontational these reforms won’t be easy. Public- governors Andrew Cuo- approach, his proposals employee union campaign contri- mo of New York and were approved by a leg- butions and field workers have Dan Malloy of Con- islature controlled by bought the gratitude of many legis- necticut and Republi- Democrats, and repre- lators and given unions dispropor- can Chris Christie of sent a dramatic victory. tionate influence in Albany. Mr. New Jersey have sought Mr. Malloy took a Cuomo’s task is made more difficult similar concessions from ALAIR more conciliatory ap- by the fact that, because the reforms public-sector workers TOWNSEND proach in Connecticut. apply only to newly hired workers, by employing different He negotiated a two- substantial savings are years away. approaches. The results year wage freeze with his The political repercussions for leg- have been mixed. public employee unions,only to have islators, however, are immediate. Mr. Christie won legislation to it rejected by union members.He had The results of efforts to control increase employee contributions to threatened massive layoffs without labor costs in our region lead me to their health insurance and pensions, such concessions,and pink slips have believe that no style guarantees vic- suspend cost-of-living increases to started to go out. While it’s possible tory.What we all should hope is that retirees,raise the retirement age and that this will bring union leaders back Mr. Cuomo is as successful in deal- allow the state,rather than collective to the table, the outcome is unclear. ing with the Legislature on this bargaining, to set the terms for Mr. Cuomo negotiated with matter as he has been on an impres- health benefits. The changes apply more success. Threatening layoffs, sive number of issues so far this year.

system works,too.He redirected his giving to city organizations as he pre- On Walmart’s pared to run for mayor in 2001 and kept giving generously once he had the post.It wasn’t a surprise that non- profit executives agreed to back his good will hunting controversial bid to overturn term limits when his aides asked them to testify before the City Council. t was the sort of story that normally warms people’s There is a simple reality here: hearts. A nonprofit that teaches children to ride bicycles Every corporation aligns its charita- in Queens was devastated by the theft of bikes and hel- ble activities with its corporate ob- jectives. That doesn’t diminish the mets from a trailer. A giant corporation rode to the res- good the money does. cue,pledging to replace the equipment.Cheers? Not this Nor will Walmart’s charitable ac- time, because the company was Walmart, and its opponents tivities in New York end after it opens I stores. The company gives more quickly denounced this act of charity as a ploy to ease the way money to charity than any other for it to open stores in New York City. American company by far. The lat- est figures, published in USA Today A few weeks ago, the dollars to further corpo- about a year ago, showed Walmart’s same response greeted a rate objectives for de- annual contributions at $288 mil- $4 million donation cades. Philip Morris, lion—in cash.AT&T was second,at from the retailer to the once more of an outcast $240 million.Most of the money goes city’s summer jobs pro- than Walmart is today, to social services, by the way, as has gram, hit hard by bud- was one of the biggest the $9 million Walmart has given get cuts. Ditto for mon- supporters of arts groups out in the city in the past three years. ey it gave to City Harvest as it fought against a tide This is the company that New and the Food Bank, two of anti-smoking efforts. York politicians say is some sort of organizations desper- Between 1995 and 2005, renegade that has to be kept out of ately trying to feed hun- it gave more than $200 the city at all costs? gry New Yorkers. GREG million to cultural Here’s the bottom line. Walmart Walmart’s use of DAVID groups. Organizations needs New York to boost its stag- charitable donations for like the Brooklyn Acad- nant sales in the .New corporate purposes must emy of Music,which one York needs Walmart because city be unusual, right? Once it opens year got a contribution of $375,000, residents need access to the quality, stores in New York, the money will were hurt when the company left low-cost goods it offers and because dry up,right? Wrong on both counts. New York and the money dried up. the money it will give nonprofits will Corporations have used charity Mayor Bloomberg knows how the help people as well.

July 25, 2011 | Crain’s New York Business | 11 20110725-NEWS--0012-NAT-CCI-CN_-- 7/22/2011 2:03 PM Page 1

OPINION Fixing the budget process to sideline politics, serve city

household income) receive substan- BY SCOTT STRINGER tially more than some of the poor- est. In Brooklyn, one district got t is time for us to abolish the current system of discretionary $1,235,464 this year. A district next spending by local officials from New York City’s budget door, one of the city’s poorest, got process.What should be a fair and equitable distribution only $471,464. My principal recommendation is of money to worthy nonprofits—especially in needy that we end the current method of communities—has become a distorted and highly politi- distributing member items and cized system that unfairly sets the haves against the have-nots. transfer them to mayoral agencies. I Under this proposal, the Mayor’s buck ennis A report just released by my office, Reforming Local Member Office of Contract Services would Items in New York City, reveals widespread disparities in the establish new rules aimed at divvy- same tired dramas are replayed year bate—that tackles big issues. ing up funds equally in all 51 coun- after year: Will firehouses close? There is simply no justification allocation of nearly $50 million the council.This can have a chilling cil districts, or applying a formula Will teachers be laid off? for a member item-based budget across New York City, and offers a effect on open debate. No coun- that targets funds for areas of great- Instead, we should use the bud- system that shortchanges millions solid blueprint for reform. We must cilperson should ever have to fear est need. The nonprofits that cur- get to address structural challenges— of constituents and unfairly penal- replace the existing member-items that the price of speaking out or act- rently benefit from such funds— such as how to slow the growth of izes districts that have urgent and model with one that better meets ing independently will be a loss of soup kitchens, senior centers and the city’s debt service, which is pro- unmet problems. We should end it New York’s requirements—and we funding for his or her constituents. the like—would continue to receive jected to increase dramatically in the now. Likewise, New York can no must make this step an integral part There should be no penalties for re- them, and the public would be as- years ahead. New York’s elected of- longer afford annual budget wran- of a long-overdue overhaul of our fusing to toe the party line. sured that politics has finally been ficials should be examining the rap- gles that ultimately distract us from entire budgeting procedure. In our investigation of this mat- taken out of the equation. idly expanding amount of tax dollars the real challenges facing our city. Many watchdog groups and ter, the most comprehensive study As troubling as the current allo- spent on outside consultants, to no As a new budget year begins, we some City Council members have to date, we found that some council cation system is,we should be equal- obvious benefit. We should be tak- should redouble our commitment to asserted for years that allocating districts get more than four times as ly dismayed by an annual budget ing a hard look at scandals like the reforms that will restore public con- member items is a murky and sub- many tax dollars as others. And process that is dominated by diver- CityTime fiasco, which show the fidence and put us on better fiscal jective system, in which the varying these disbursements have no corre- sionary issues and that devotes little importance of accountability in how ground for years to come. amounts awarded are based not on lation to areas’ respective economic time to the major fiscal challenges public money is spent. community requirements, but on needs. Indeed, some of New York’s facing New York. It’s a political ver- We must have a serious budget- Scott Stringer is Manhattan borough recipients’ political standing within wealthiest areas (based on median sion of Groundhog Day,in which the ary process—and a budgetary de- president.

REAL ESTATE Deals Plus COMING UP teractive agency HUGE and online SHORT crafts marketplace Etsy,have helped Forecast for total Manhattan Market looking up in Dumbo to lower the vacancy rate in recent property sales in 2011 months. Earlier this year, HUGE took an ne of the city’s smallest commercial real estate Creative Real Estate. additional 16,000 square feet at 45 submarkets is bouncing back. As of early this Rents in the neighborhood— Main St., where it has been since bounded by the Brooklyn-Queens 2007, while Etsy added 13,000 $11B DOWN 79% from the deal volume month, the vacancy rate in Brooklyn’s Dumbo Expressway, the East River, Old square feet at 55 Washington St., in the peak year of 2007 had shriveled to 5%, down dramatically from Fulton Street and Hudson Ave- where it has been based since 2009. 14.1% at the start of the year, according to an nue/Navy Street—range from $22 Most recently, Dumbo became per square foot to $35 per square home to the city’s ninth technol- Oanalysis by brokerage Creative Real Estate Group, which foot and have barely budged over ogy incubator. The incubator, oper- specializes in the area.The neighborhood’s total commercial the past year. Mr. Havens esti- ated by the Polytechnic Institute of 554 DOWN 45% from the number floor space is just 1.2 million square feet. mates that the average per-square-foot New York University, will occupy of deals done in 2007 asking rent is $28—far below Man- close to 7,000 square feet at 20 “Dumbo is perceived as an extension of Manhattan where hattan’s $55. Jay St. Source: Massey Knakal Realty Services you can get space at a great value,” said Chris Havens of Local companies, including in- —amanda fung

Japanese outfit midtown Manhattan location,” said and the ninth floor when Savanna ing rent at the 105-year-old, cruit additional engineers and ar- Joseph Mangiacotti of CB Richard took it over, Mr. Amrich said. This 240,000-square-foot building,which chitects to help them further build to open U.S. center Ellis Inc. He and Masahiro Tanaka, deal brings the building to more bills itself as The Fashion Atrium, is their operations.” a colleague on the brokerage’s Japan than 50% occupancy. $35 to $38 per square foot. The new deal will keep the com- TKP New York Inc., desk, represented the tenant. “They —amanda fung In fact, the 82-year-old, Arling- pany in its current location for the a Japanese company hope to be up and running in the ton, Va.-based tenant is anything next five years; it has been a tenant that provides confer- first quarter of next year.” but fashionable, because it doesn’t since 2006. ence and meeting TKP will occupy a portion of the Battleship designer work in cotton or silk, but in steel. It “They’ve been a pleasure to work spaces, will be open- ground floor. Reception and the doubles berth is a naval architecture and engineer- with over the years, and [we were] ing its first U.S. cen- firm’s private entrance will be located ing company that ranks as one of the very happy to assist them during ter in Manhattan, on West 39th Street.The tenant will The garment district has plenty of world’s largest purveyors of designs their growth and reorganization near Bryant Park. also take over the entire concourse designers, but few that boast the for combat ships. Nearly 80% of the phase,”said Elliott Aharonoff of the The company has and second floor of the building. sheer firepower of U.S. Navy’s surface combatant fleet Eretz Group,who represented land- signed a 10-year “This is the first large lease inked Gibbs & Cox Inc. and more than 45% of its active sur- lord Gedula 26, adding that the ex- lease for 31,450 since Savanna bought the property a The firm has just face ship fleet are built to the firm’s pansion gives Gibbs & Cox about square feet at 104 W. 40th St.,between year ago,” said Paul Amrich, a signed a lease that specifications. 75% of the building’s sixth floor. Sixth Avenue and Broadway. The CBRE broker who, along with col- nearly doubles its The expansion offers a couple of “A design firm expanding on asking rent for the space was $45 per league Michael Movshovich, repre- space at 485 Seventh benefits, according to Dennis Karr Seventh Avenue isn’t unusual,” square foot. sented the landlord. Ave. to 9,200 square of Newmark Knight Frank, who added Mr. Karr, “but a design firm “The company has a number of The 21-story building was va- feet, up from 5,200 represented the tenant: “They get that designs battleships is.” locations in Japan, and it wanted a cant between the concourse level square feet.The ask- to expand within New York and re- —jermaine taylor

12 | Crain’s New York Business | July 25, 2011 Project1:fp template.qxd 7/15/11 4:23 PM Page 1 20110725-NEWS--0014-NAT-CCI-CN_-- 7/22/2011 2:40 PM Page 1

CRAIN’S FUTURE OF NYC CONFERENCE WHAT CHANGED AFTER 9/11? ‘We are as Howard Lutnick Chairman and chief executive, Cantor Fitzgerald focused on His stock- and bond-trading firm was on the 101st through 105th floors of 1 World Trade Center. We had 960 employees there. We lost 658—every person who was at work tomorrow as that morning, including my brother, all my friends, everybody we worked with. Our first commitment was really a question among the surviving employees: Would we close the firm and attend our friends’ funerals? You have we are on today’ to remember that’s 10 funerals a day, every day, for 66 straight days. Or, do you work harder than you’ve ever worked before? And there would only be one reason to do that work: to help the families of those 658 people we lost. We had cots along the wall and you took a nap for four hours, someone tapped you on the shoulder, you got up and went back to work, and then someone else lay down. When the bond markets opened on Thursday, the 13th of September, Cantor Fitzgerald opened. Once we had the business survive, there were thoughts of where we’d reopen. And you know, the best place to hire people is New York. It’s a central hub to hire great talent. We had a conveyor belt: Every Friday, our goal was to hire 50 people. Basically, you BIG SCIENCE: At the Crain’s Future interviewed with my head of equities; if he of New York City conference, Mayor thought you were OK, you got to me, and Michael Bloomberg pledged city my fundamental question was, “Can you land and aid to help a major university build an applied sciences start on Monday?” and engineering graduate school. Raymond Kelly Commissioner, New York Police Department Mayor calls tech industry a major source of growth Restoring confidence in public safety was the NYPD’s No. 1 priority. When Osama bin Laden unleashed his attack on New York on Sept. 11, the city was eight I think it’s fair to say that people’s faith in the bedrock of public safety was months into a recession brought about by the bursting of the tech bubble.The city had already shattered. Just after 9/11, there were all sorts of articles that the world was lost 56,000 jobs by the time the Twin Towers fell, but the attacks exacerbated a downturn that going to go to hell in a handbasket. Of course, all of that gloom and doom did not happen. In fact, in 2002, crime went down. It’s gone down would see nearly 200,000 more jobs disappear before recovery took root in the middle of 2003. every year since then—it’s down 40% since 2001. And we’ve Nearly 10 years later, the city is again pointing to its tech industry, but this time as a source of done it with 7,000 fewer police officers today than we had in future growth as its emerges from a recession caused by the collapse of Wall 2001. New York remains the communications capital, the / Street, the traditional engine of its economy. At the Crain’s Future of New cultural capital of the world, and it is by far the 9 11 York City conference last week, Mayor Michael Bloomberg unveiled what he safest big city in America. TEN Two lessons we’ve learned where terrorism is YEARS called “one of the most significant” economic development projects in the city’s concerned: No. 1, we can’t rely on the federal LATER history: a call for proposals to build a 1 million-square-foot applied sciences and government alone to protect the city. engineering graduate school here. Once operational, the school could help the Second, we have to broaden our city challenge Silicon Valley for supremacy in tech, the mayor said. And it could help diversify a perspectives outside of the five boroughs. local economy that for too long has been dependent on the booms and busts of Wall Street. New York weathered the most recent recession better than pretty much any other city, largely as a result of bank bailouts that helped rescue Wall Street and a tourism industry that continues Daniel Doctoroff Chief executive, Bloomberg LP to prosper. But the recovery has been tepid, and nurturing a nascent tech industry is just one of Mr. Doctoroff was Michael Bloomberg’s deputy mayor for economic the challenges the city faces as it looks to foster growth in the years ahead. Below are some of development from 2002 to 2007. the other challenges that animated debate at the conference’s panels. —daniel massey In the aftermath of 9/11, there was a spirit in the city that was extraordinary. When the mayor-elect asked me if I would be willing to join him, I saw that we were at a unique moment in time in New York City, where the things ENTREPRENEURS INFRASTRUCTURE EMPLOYMENT EDUCATION that may have been thought impossible before actually now were possible. [The plan for downtown] coalesced around a vision that had two TAXES, taxes, taxes. Crain’s INNOVATION and efficiency UNEMPLOYMENT RATES THE CITY’S public education fundamental principles. First, with respect to the memorial, we had to pay panelists agreed that the won’t be enough to salvage remain stubbornly high, and system has seen graduation tribute to the people who had given their lives, and give meaning to 9/11. single greatest challenge New York’s dilapidated job creation is a top priority rates continue to rise, but The second was, we had to rebuild lower Manhattan and make it greater facing entrepreneurs and bridges and tunnels in for the city. But how active a that’s about as good as the than it ever was before. And that meant making it a 24-hour live/work/visit small businesses trying to coming years. At a time role local government should news gets. Elementary community, the first 21st-century downtown. There were many different get big is the city’s high tax when state and federal play in creating those jobs schools are plagued by low elements to it, including a rebuilt transportation center, and a recommitment to base. Venture capitalist dollars have dried up, private was a hotly debated issue test scores and oversized keeping downtown as a global hub of culture and James Robinson IV said he investment will have to come among the panelists. From classes, and college- commerce and to increasing the number of residents. believes that high taxes to the rescue. Union leader cutting red tape and easing readiness rates remain About two weeks ago, I stood at the entrance to outweigh even the cost of Gary LaBarbera suggested access to credit for small woefully low. And there is no Goldman Sachs and I looked up at the Goldman real estate and employees. A that some of the investment businesses, to reducing the silver bullet. Instead, Sachs building, which hadn’t existed before. I looked to 2007 Independent Budget could come from union tax burden and making the stakeholders must continue my left across West Street at a series of new apartment Office report found that the pension funds. For its part, city more competitive, to to push for greater buildings. I looked to my right and there was 1 World Trade tax burden in New York is the city is exploring public- improving technical and GED accountability, rigor and Center going up, now about 70 stories. All the construction 90% higher than the average private partnerships to help training in our schools, the innovation in public on the memorial site itself, and you know what I for the 10 largest cities in the reduce the cost of managing prescriptions for getting schools. High schools and realized? That vision that we all had for lower country. The city’s response? its real estate portfolio, people back to work are as colleges have to talk to each Manhattan after 9/11 is in fact coming true.

Taxes pay for all those among other things, while varied as the problems other, too. “Only through We’ve actually done something amazing. by buckphotos ennis amenities that make New the MTA says that private afflicting the economy. With education will we remain York such a magnet for capital may have to help New York strapped for competitive,” said CUNY Videos of the complete comments, as well as remarks by City Council talented, creative people in make up the $9 billion hole resources of its own, however, Chancellor Matthew Speaker Christine Quinn and Port Authority Executive Director Chris Ward, the first place. in its capital plan. realism may win the day. Goldstein. can be found at www.crainsnewyork.com/911. —JERMAINE TAYLOR —SHANE DIXON KAVANAUGH —DANIEL MASSEY —ELIZA RONALDS-HANNON ➚➚ 14 | Crain’s New York Business | July 25, 2011 Project1:fp template.qxd 7/21/11 11:47 AM Page 1

In today’s changing debit landscape, choose the STAR® Network to ensure success every step of the way.

First Data and the STAR® Network are ready to help you address the new regulatory requirements. We deliver value beyond the transaction with:

©2011 First Data Corporation. All Rights Reserved. 20110725-NEWS--0016,0017-NAT-CCI-CN_-- 7/21/2011 7:43 PM Page 1 THE CULTURE CLUB Who’s who when it comes to the most important private funders of New York City’s unparalleled cultural offerings? The list would be long. But it would have to include these power patrons of the arts.

Donations to arts and cultural nonprofits suffered with the recession, as few years. And some philanthropic institutions, including the Ford funding dried up for music, opera, dance, and other performing and visual Foundation and the Andrew W. Mellon Foundation, actually have arts, and many philanthropists shifted their charitable efforts toward more increased their recent giving. basic human needs, like hunger or health. Arts giving nationwide fell by In this first-of-its-kind compilation of New York City’s most important around 2% last year, according to Giving USA, and in New York, the arts donors, Crain’s New York Business presents the people who gave some of megamillion-dollar gifts that came to exemplify the boom years proved the largest gifts of 2010 and the first half of 2011, as well as leading harder for arts executives to mine. corporate and foundation supporters that have stepped up where others Still, a number of major donors, like David Koch, a co-owner of Koch have pulled back. As one company’s philanthropy chief explained, “The arts Industries, and Ann Ziff, the widowed matriarch of the publishing clan, make cities vibrant places to live.” And to do business. have made big contributions to local arts and cultural groups over the past —miriam kreinin souccar and jermaine taylor

Shelby White Founding trustee Leon Levy Foundation The city’s cultural treasures outside Manhattan often get overlooked by big donors. Luckily for Brooklyn, there’s native daughter Shelby White, the widow of Wall Street financier and philanthropist Leon Levy. Through the Leon Levy Foundation, which has $500 million in assets, Ms. White in March pledged $7.5 million to help restore the Brooklyn Botanic Garden. It was the largest contribution by a living donor in the garden’s 100-year history. In 2009, the foundation gave $3.25 million to the Brooklyn Public Library, and in 2008, it donated $10 million to Prospect Park. “I grew up in Brooklyn during the borough’s ‘golden age,’ played field hockey in Prospect Park, studied at the Brooklyn Public Library and strolled around the Brooklyn Botanic Garden,” Ms. White said in an email. “I’m thrilled that the Leon Levy Foundation has been part of so many aspects of Brooklyn’s 21st-century re-emergence. Now, if we could only bring back the Dodgers!” An author and antiquities collector, she also has committed $400 million over the past five years to universities and Manhattan cultural institutions that range from the Lower East Side Tenement Museum to the New York Philharmonic. Don Randel Sandy and Joan Weill President Chairman, Carnegie Hall Andrew W. Mellon Chairwoman, Alvin Ailey Dance Foundation Foundation For decades, they’ve been one of the city’s most prominent power couples in The $5.4 billion- the arts. Sandy Weill, the 78-year-old former head of Citigroup, has led asset Mellon Carnegie Hall’s board since 1991. His wife, Joan, 77, has been chairwoman foundation gave of the Alvin Ailey Dance Foundation since 2000. Their commitment hasn’t waned in recent years, even as the value of more than $21 Citigroup shares plunged during the financial crisis. In 2008, the couple co- million to local chaired a $50 million endowment campaign for Ailey’s 50th anniversary, kicking arts groups in it off with a $15 million donation of their own. And in the past 18 months, 2010, up from they donated $52 million to cultural organizations, mainly in New York. $15 million in In January, for instance, the Weills gave $25 million to Carnegie Hall to 2009. Don help renovate its studio towers and create a 61,000-square-foot music education Randel, a musicologist and former wing. The expansion will allow the president of the University of Chicago storied concert hall to grow education illustrations by louisa bertman illustrations who took the helm in 2006, expects programs that currently engage more those numbers to keep climbing. than 170,000 people a year, including Ann Ziff Major recipients last year included thousands of New York City Chairman the New York Shakespeare Festival public school kids. ($2 million), the Pierpont Morgan Now that the Weills are The Metropolitan Opera spending more time in Library (nearly $1.8 million) and California, cultural groups Ann Ziff is a jewelry designer and the owner of boutique Tamsen Z. But the widow of Dance Theatre of Harlem ($600,000) there get to share the bounty. A former Ziff Davis head William Ziff Jr. may be best known for the gem of a gesture But the smaller grants paint a rich recent $12 million gift to the she made last year when she pledged $30 million to The Metropolitan Opera. It’s the picture, too, including gifts to the little- Green Music Center at largest gift from an individual in the Met’s rich 128-year history and—another known Nikolais-Louis Foundation for Sonoma State University, Ms. rarity—one that can be used for whatever its management team wants. Dance ($40,000) and the politically Weill noted in an email, could The contribution coincided with Ms. Ziff ’s ascendancy on the Met’s prestigious help the venue become a “West board, with its 41 high-powered managing directors. (The 64-year-old became co- charged Tectonic Theater Project Coast equivalent to chairman in May 2010 and sole chairman in May 2011.) She also recently helped fund ($50,000). Tanglewood.” Robert Lepage’s new production of Wagner’s four-opera Ring cycle, which debuted at “Arts organizations have been “We have been involved with the Met last September to sold-out houses, despite mixed reviews for the first two under very severe pressure during the the arts for several decades not just productions. downturn,” said Mr. Randel, 70. “So financially, but with our time,” she A clearly busy Ms. Ziff sits on the boards of the American Museum of Natural the need has been especially great— said. “We are passionate about the arts History, Carnegie Hall, Lincoln Center for the Performing Arts and the World because we believe they can help Science Festival, among others. But her ties to the Met run especially deep: Her especially with the many arts bridge cultural divides that mother, Harriet Henders, was an opera singer who made her U.S. debut at the old Met organizations that always operate unfortunately exist throughout the opera house in 1939. within the edge of their resources.” world.” christopher duggan

16 | Crain’s New York Business | July 25, 2011 20110725-NEWS--0016,0017-NAT-CCI-CN_-- 7/21/2011 7:43 PM Page 2

Ronald Luis Ubinas Stanton President Chairman Ford Foundation Transammonia Inc. Local arts institutions used to complain that Manhattan’s mighty Ford Foundation paid little Ronald Stanton’s biggest gifts have attention to its neighbors. Not anymore. Since Luis gone to schools, hospitals and Ubinas became president of the second-largest foundation in America, it has become one of the city’s Jewish causes. But the founder of biggest cultural supporters. This year, the $11 billion- one of the city’s largest privately held asset Ford Foundation is on track to give away companies—Transammonia, which $15 million to New York arts organizations, triple the generated an estimated $8 billion in amount it donated three years ago. revenues last year from its fertilizer Its grants and programs reach a range of organizations, from smaller groups like El and petrochemical businesses—is Museo del Barrio to establishment players like The Metropolitan Opera. A few also a major donor to the arts. months ago, the foundation gave $3 million to help complete the interior of the new Museum for African Art going up on East 110th Street. It also is transforming P.S. Look no further than the fact 109, an abandoned school in East Harlem, into a building that will house artist that the residences and performance space—part of a $100 million foundation effort to Museum of develop arts spaces around the country. Modern Art Mr. Ubinas said he was moved by the recession to step up grants to local arts recently organizations, but also driven by a wealth of exciting proposals that recently come bestowed its across his desk. “We’re going to leave a legacy of a substantially reinforced New York City arts environment, despite this recession,” he vowed. prestigious The 48-year-old, who grew up near , has something of a soft spot David for what the arts can do for the average New Yorker. “I didn’t grow up in the most Rockefeller affluent place in the world,” he recalled, “but I was able to see rehearsals at the Award on Mr. Philharmonic for free, and sit in the cavernous Met Museum for free when it was Stanton. almost empty back in the 1970s and see that art as if it were mine.” The 83-

year-old’s getty images cultural generosity lately includes David Koch $25 million for Lincoln Center’s $1.2 billion redevelopment Co-owner campaign. He’s also given Koch Industries Inc. $7 million to the Brooklyn Academy Billionaire David Koch made a high-society splash back in 2008 with his $100 million of Music over the past five years for gift to renovate Lincoln Center’s New York State Theater. The longtime home of the a variety of uses. New York City Ballet and, until recently, the New York City Opera is now named after One of those uses: funding the re- him. His cultural largesse hasn’t slowed since. Over the past three years—on top of the Michael Bloomberg creation of the French opera Atys, State Theater gift—Mr. Koch has lavished some $130 million on local arts Mayor, New York City which will be presented in institutions. September to launch BAM’s 150th Last year, he pledged $60 million over six years to the Metropolitan Museum of Founder, Bloomberg LP anniversary season. The Art to renovate its outdoor fountains. He has written checks worth a total of $630,000 to the struggling City Opera since 2009. And when the American Ballet Theatre came Founder, Bloomberg Family Foundation philanthropist reportedly told the knocking last year with the news it did not have the money to present The Nutcracker opera’s musical director, William for the holidays, he quickly handed over $2.5 million. Fortunately for the city’s cultural institutions, the richest person in New York loves the Christie, that seeing Atys the first Although the politically ultraconservative Mr. Koch has gotten bad press lately in arts. Make that really loves the arts: Michael Bloomberg gave away $279.2 million last time “changed my life.” liberal New York for his support of the Tea Party movement, his generosity to local year to 970 arts, social service and public affairs groups, placing him second on the arts groups—especially the big, prestigious ones—could not be more welcome. The Chronicle of Philanthropy’s annual list of top givers in the U.S. 71-year-old said he spends a lot of time personally reviewing stacks of proposals from He also donated nearly $200 million over the past decade to local arts and various cultural groups, looking for projects that he feels passionate about. social services through an arm’s-length arrangement that’s run by the Carnegie Tim McClimon “My gift to the American Museum of Natural History, for example, stems from Corporation of New York. His highly profitable financial media company is also a President visits I made there with my father and brothers when I was a boy,” Mr. Koch said, big arts sponsor: Bloomberg LP spent $300,000 to sponsor the Brooklyn Academy of explaining a $20 million gift in 2006 for the museum’s dinosaur wing. “No fundraising Music’s recent spring season and underwrote New York City Center’s Fall for Dance American Express appeal can match that feeling of a personal connection. In my mind, I am always festival last year. walking beside my father, and now my son, when I enter that museum.” This year, his $2.2 billion-asset Bloomberg Family Foundation takes over the arts Foundation patronage, as Mr. Bloomberg, 69, consolidates his charitable efforts during his final The American Folk Art Museum, term as mayor. His stated goal: giving away most of his fortune before he dies. In February, his foundation invited 250 small cultural groups in the five boroughs to Lincoln Center and the New York apply for a share of $32 million to be disbursed over two years. Philharmonic are a few of the cultural There’s a danger that New York’s culture industry has grown too reliant on the organizations that shared in mayor’s generosity. For instance, arts executives have little incentive to speak out $8.4 million donated across the U.S. during debates over city funding cuts to nonprofits. last year by AmEx’s philanthropic Even so, some observers hope Mr. Bloomberg’s foundation support for the arm, headed by Tim McClimon. arts will only grow, especially once he leaves office. “It could rival Bill Gates’ and Warren Buffett’s [shared philanthropic vehicle],” The foundation has sponsored said Will Maitland Weiss, executive director of the Arts & Business Council. “Only the Brooklyn Academy of Music for instead of trying to eradicate malaria in Africa, our hope is that the Bloomberg over 25 years, giving $1.6 million foundation becomes the No. 1 private foundation for the arts.” and backing events such as the 2010 inaugural TO GET TO MICHAEL BLOOMBERG, or at least his money, cultural groups need Opera Festival the green light from his two power brokers in the arts. and the 2011 The newest face is Anita Contini, the former director Next Wave for memorial, cultural and civic programs at the Lower Festival. The Manhattan Development Corp. She was hired last year as a Alvin Ailey consultant to the Bloomberg Family Foundation to oversee Dance an initiative to seed $32 million over the next two years to Foundation small arts groups throughout the city. Some believe it’s an was awarded attempt to distance City Hall from any politically tricky $200,000 charitable decision-making. earlier this Most powerful of all is Patricia Harris, chief executive of the foundation and year by AmEx’s first deputy mayor. Ms. Harris’ ties to Mr. Bloomberg date back to 1994, when Members Project Initiative, through she was hired to manage his media company’s philanthropy, which cardholders vote on charities public relations and governmental affairs division. (Before he that receive corporate funding. became mayor, Mr. Bloomberg sat on some 20 cultural and civic “Our mission is to bring to life the boards, from the Metropolitan Museum of Art to the Jewish value of good corporate citizenship Museum.) Ms. Harris, 56, remains his top adviser for arts by supporting visionary nonprofits,” philanthropy. Her dual role in his administration and his Mr. McClimon said in a statement. foundation has drawn criticism, yet she is widely seen in the “Through the arts, creativity prospers, cultural community as an advocate for the little guys in the arts world. diversity is celebrated and local businesses thrive.”

July 25, 2011 | Crain’s New York Business | 17 20110725-NEWS--0018-NAT-CCI-CN_-- 7/21/2011 7:44 PM Page 1

THE CULTURE CLUB

Bruce Kovner Founder and chairman Caxton Associates Although the billionaire hedge funder likes to keep his gifts anonymous, arts insiders at the most prestigious institutions know Bruce Kovner well. Mr. Kovner, 66, donated $25 million a few years back to help renovate Lincoln Center, and he is a major funder of both The Juilliard School and The Metropolitan Opera, where he is chairman and a board member, respectively. His contributions go far beyond the financial, however. “His absolute first and foremost contribution has been his vision and his leadership,” said Joseph Polisi, getty images Alessandra president of Juilliard. Instead of simply doling out money to put his name on a wing, Mr. DiGiusto Kovner works with arts executives to figure out what they need. He recently gave the Brooklyn Academy of Music $5 million to help the organization Chief administrative expand its operations and find new fundraising streams. officer and director Deutsche Bank Jeff Barker Americas Foundation President, New York City The German financial services giant has given $6.6 million to 42 arts and Bank of America community organizations throughout Bank of America’s $3 million in contributions to local cultural New York City since 2002. It plans to dole out more than $1 million over organizations in 2010 make it one of New the next two years to help arts groups York’s top corporate donors to the arts. here take advantage of emerging The nation’s largest commercial bank technologies. supports a number of institutions, including The Deutsche Bank Americas The Metropolitan Opera and the Brooklyn Foundation, run by Alessandra Academy of Music. It seems most proud of its DiGiusto, is also providing long-term commitments: For instance, BofA sustainability grants to 13 organizations.They include the Bronx has just started a five-year project to help the Museum of the Arts, Harlem Stage Joseph and Diana DiMenna Whitney Museum of American Art move from and the of Art. its longtime Upper East Side base to the new “The arts make cities vibrant Co-founder, Zweig-DiMenna Associates home it’s building in the meatpacking district. places to live,” said Ms. DiGiusto, whose father, an art professor and DiMenna Foundation Under Jeff Barker, 58, the bank has also been Co-director, the lead sponsor of The Public Theater’s buck ennis sculptor, introduced her to museums around the world when she was With the fortune generated by his $2 billion hedge fund, Joseph DiMenna and his Shakespeare in the Park program for the past several years. growing up. “We’re building long- wife, Diana, are carving their names into cultural buildings all over town—and not just “The fact that 100,000 people can see Shakespeare for free in New term relationships with these at the high-profile institutions favored by so many wealthy patrons. “We’re big fans of York City is what we’re all about,” Mr. Barker said. organizations.” the little engine that could,” Ms. DiMenna said. Last year, the couple donated $5 million to the New-York Historical Society to build a children’s museum as part of the renovation of the society’s landmark headquarters. Emily Fisher Landau In 2008, they gave $5 million to the Orchestra of St. Luke’s to construct the DiMenna Center for Classical Music, the orchestra’s first permanent home and the Trustee, Whitney Museum of American Art city’s first rehearsal and recording facility dedicated to classical music. It opened in March. Founder, Fisher Landau Center for Art The DiMennas—he’s 52; she’s 47—have been big boosters of the arts for many Emily Fisher Landau turns 91 next month—and she’s still buying contemporary art to add to years, allocating nearly $20 million since 2006 to a range of organizations, from Jazz at the staggeringly prolific 1,200-work collection she started in the 1960s. She demurs when Lincoln Center to the Noguchi Museum in Queens. But their two recent naming gifts asked about her favorites. “I’ll say Rauschenberg and Warhol. I don’t want to mention any were the first of that caliber. living artists, because I don’t want to offend anybody.” “The Historical Society and the Orchestra of St. Luke’s are both organizations The widow of real estate mogul Martin Fisher and clothing manufacturer Sheldon Landau, Ms. Fisher Landau last that have done an enormous amount on their own with not much notoriety and not year donated 367 of her treasures to the Whitney Museum of American Art, including seminal examples of artwork by much backing,” Ms. DiMenna said. “In terms of big investments, we like to look for Robert Rauschenberg, Andy Warhol, Jasper Johns and many others. The gift, valued at $50 million to $75 million, is nascent ideas, things that we have the ability to participate in. The idea of [just] seen as a huge boost to the Whitney’s holdings. writing a check isn’t that interesting to us.” Ms. Fisher Landau has been on the Whitney’s board for more than 30 years. She used to be a trustee at the Museum of Modern Art and The Metropolitan Opera, as well. In 1991, she opened the Fisher Landau Center for Art in a former parachute harness factory in City, Queens, where she shows pieces from her collection to the Jonathan and Lizzie Tisch public. “I went to every museum in Europe that was built and owned by a woman to research that endeavor,” she said. Long known for nurturing the careers of emerging artists—she wanted to go to art school when she was young but Chief executive, Loews Hotels couldn’t because of the Depression—Ms. Fisher Landau in recent years has sponsored an annual show at the Queens center for students graduating from Columbia University’s M.F.A. program in visual art. Chair, Friends of the Costume Institute Jonathan and Lizzie Tisch started off 2011 with a bang: In January, they made the largest single publicly acknowledged gift that’s been awarded to a New York cultural institution so far Laurie Tisch (left), the 60-year-old daughter of the late Preston Robert Tisch—former co- this year. chairman of Loews Corp.—and the sister of Jonathan Tisch, is the founding chairman of the Their donation of $10 million will enable the Center for Arts in Education and recently launched a foundation to support educational and Metropolitan Museum of Art to create a new cultural opportunities for poor New Yorkers. She gave Lincoln Center $10 million in 2007 to 4,200-square-foot exhibition space within its create a public lawn, and recently joined its executive committee. … Costume Institute. According to Mr. Tisch, 57, the impetus Stephen Schwarzman (right), 64, co-founder of private equity firm came from his wife, Lizzie, 39, who The Blackstone Group, donated $100 million to the New York Public heads the volunteer group Library in 2008—the largest gift in the library’s history—in return for naming rights to the Friends of the Costume Bryant Park flagship. He’s also a trustee of the Asia Society and the Frick Collection. ... Institute. Leonard Lauder, chairman emeritus of Estée Lauder Cos., gave $130 million to the “My wife is a strong Whitney Museum of American Art in 2008 to boost its endowment, with the stipulation that believer that fashion is an it never sell its landmark, Marcel Breuer-designed Madison Avenue home. Mr. Lauder, 78, has art form that needs to be recognized as such,” he said. since backed the Whitney’s move in 2015 to new digs downtown by the High Line. But he Emily Rafferty, helped broker a deal to keep the Upper East Side property in the Whitney family by renting president of the Met, the 1960s-era cube to the Metropolitan Museum of Art as a satellite exhibit space. ... noted that the Tisches Mercedes Bass (left), 67, gave $25 million to The Metropolitan Opera in 2005 and more are more than mere recently led a $100 million fundraising drive there—during the depths of the recession. ... benefactors. David Rockefeller, 96, gave $100 million to the Museum of Modern Art’s endowment “Their involvement,” she said, “is very much in 2005, part of his plan to give away much of his estimated $2.4 billion net worth.

hands-on.” bloomberg news photos metropolitan museum of art 18 | Crain’s New York Business | July 25, 2011 368541A1_CE_EE_Crain's NY_10.875X14.5_Business_Mark_11.indd1 Project3:fp template.qxd6/21/1112:09PMPage1

©2011 Consolidated Edison Company of New York, Inc. Ad: Arnell Group AT CONED.COM/GREENTEAM CONNECT WITHTHEGREENTEAM AT RCL -87 7-6118 ACT NOW. OFFER. TIME LIMITED 870- 877- 1- CALL OR WITH MONEY-SAVING PROGRAMSONLIGHTINGUPGRADES. THE GREENTEAMHELPEDABUSINESSINWESTCHESTER Mark’s lighting upgrades MARK: COST TO COVERED: TEAM GREEN VALUE: TOTAL “Amazing. The savings savings The “Amazing. were too good to pass up.” pass to good too were $650 $1,500 (70%) $2,150 —Mark, —Mark, WE’LL HELP YOU SAVE Owner, Franzoso Contracting, Inc., Franzoso Contracting, PERIOD: PERIOD: PAYBACK PROJECTED SAVINGS: MONTHLY ESTIMATED

6.5 months 6.5 $100 See howI’msavingatconEd.com/Mark Croton-on-Hudson, NY + Scan toseeMark’s story. *Based on eligibility on *Based * 5/10/11 10:39PM nb30p20-22cl.qxp 7/22/11 3:04 PM Page 20

EVENT EXECUTIVE PUBLIC & LEGAL NOTICES ACG Clambake And Cocktails On Long Island This event will feature a relaxed RECRUITER NOTICE OF FORMATION OF ZNTAI Notice of Qualification of Far View NOTICE OF FORMATION OF Hybrid relationship building networking event Records LLC. Articles of Organization Capital Management, LLC. Authority Capital Management, LLC. Articles with key players in middle market growth filed with the Secretary of State of NY filed with NY Dept. of State on of Organization filed with the Secretary on Long Island and the New York Metro POSITION AVAILABLE (SSNY) on 4/26/11. Office location: 6/29/11. Office location: NY County. of State of NY (SSNY) on March 17, Area and of course featuring a good old NEW YORK County. SSNY has been LLC formed in DE on 3/10/11. NY Sec. 2011. Office location: NEW YORK fashioned Clambake. When: Thursday, Sales Acct Exec for well-est mdtwn comp designated as agent upon whom of State designated agent of LLC County. SSNY has been designated July 28, 2011 4:30 p.m. - 8:00 p.m. Where: - 5 yrs exp req; Manage accts; Generate process against it may be served. The upon whom process against it may be as agent upon whom process against The Crescent Beach Club 333 Bayville Ave new business; Oversee Acct Mgrs; Post Office address to which the served and shall mail process to the it may be served. The Post Office Bayville, NY 11709 General Price : $125 Develop sales leads; Analyze cust. data. SSNY shall mail a copy of any process principal business addr.: 575 Madison address to which the SSNY shall Member Price : $95 Prices Members: Proven sales record, strong negotiating & against the LLC served upon him/her Ave., 10th Fl., NY, NY 10022-2511, mail a copy of any process against $95.00, Non Members: $125.00 Member is: c/o Mario Larrea, 166 First Ave. #1, Attn: David B. Hathaway, regd. agent the LLC served upon him/her is: 126 On-Site Registration Price: $125.00 Non- strategic-planning skills req. Initiative & New York, NY 10009. The principal upon whom process may be served. East 24th Street, Suite 1B, NY, NY Member On-Site Registration Price: follow-through & priority setting skills business address of the LLC is: 166 DE addr. of LLC: Corporation Trust 10010. The principal business $150.00 Register @ www.acgnyc.org req. Resumes:[email protected] First Ave. #1, New York, NY 10009. Co., 1209 Orange St., Wilmington, DE address of the LLC is: 126 East 24th Purpose: any lawful act or activity. 19801. Cert. of Form. filed with DE Street, Suite 1B, NY, NY 10010. Sec. of State, Federal & Duke of York Purpose: any lawful act or activity. LAFORCE & COMPANY, LLC, a Sts., Dover, DE 19901. Purpose: all REAL ESTATE domestic Limited Liability Company lawful purposes. NOTICE OF FORMATION OF GREEN (LLC), filed with the Sec of State of TAO, LLC. Articles of Organization OFFICE SPACE RETAIL SPACE NY on 6/24/11. NY Office location: Notice of Qualification of Vintage Fund filed with the Secretary of State of NY BROOKLYN New York County. SSNY is desig- GSVA, L.P. App. for Auth. filed with (SSNY) on January 25, 2011. Office Hoboken, N.J. nated as agent upon whom process Secy. of State of NY (SSNY) on 5/17/11. Location: New York County. SSNY Prime Retail Location against the LLC may be served. Office location: NY County. LP formed has been designated as agent upon Modern Office Space Washington St. - b/w 1st & 2nd St. SSNY shall mail a copy of any in Delaware (DE) on 3/16/11. SSNY whom process against it may be For Lease 2,500 sq. ft. ground floor process against the LLC served designated as agent of LP upon whom served. SSNY shall mail process to: 850 sq. ft. mezzanine upon him/her to Marglo Associates process against it may be served. Caroline Angoorly, 212 East 48th 2275 Coleman Street Full basement for storage Ltd., 46 Woodbine Ave., Northport, SSNY shall mail process to: 200 West Street, Ste 5A, New York, NY 10017. Ideal for bank, chain, franchise NY 11768. General Purposes. St., NY, NY 10282. DE address of LP: Purpose: Any lawful act or activity. Marine Park Call owner (917) 750-5353 2711 Centerville Rd., Ste. 400, Notice of Formation of INK MARK Wilmington, DE 19808. Name/address Notice of Formation of HID 960 LLC, Brooklyn, NY 11234 ENTERTAINMENT, LLC. Arts. of Org. of each genl. ptr. available from Art. of Org. filed Sec’y of State (SSNY) Unique opportunity to access up filed with Secy. of State of NY SSNY. Cert. of LP filed with DE Secy. 9/11/09. Office location: NY County. LUXURY PROPERTY (SSNY) on 05/17/07. Office location: SSNY designated as agent of LLC to 38,000 sf, divisions considered of State, P.O. Box 898, Dover, DE FOR SALE NY County. Princ. office of LLC: 200 19903. Purpose: any lawful activity. upon whom process against it may •Modern Building, Abundant Easy Parking W. 57th St., Ste. 1300, NY, NY 10019. be served. SSNY shall mail copy of •Suburban-style setting EAST HAMPTON SSNY designated as agent of LLC process to c/o Hidrock Realty, Att: Notice of Qual. of 1180 AOA Funding •Easy Parking upon whom process against it may be Abie Hidary, 65 W. 36th St., Ste. LLC, Auth. filed Sec’y of State (SSNY) •2 Blocks to Kings Plaza served. SSNY shall mail process to 1200, NY, NY 10018, the Reg. Agt. 4/28/11. Office loc.: NY County. LLC •Tenant controlled utilities Kevin Foster, 7 Emory Rd., Highland upon whom proc. may be served. org. in DE 4/26/11. SSNY desig. as •Competitive Rent Mills, NY 10930, regd. agent upon Purpose: any lawful activities. agent of LLC upon whom process whom and at which process may be Contact Exclusive Agent: against it may be served. SSNY served. As amended by Cert. of Notice of Formation of CHENG MENG shall mail copy of proc. to NRAI, M. C. O’BRIEN, INC. Amendment filed with SSNY on FURNITURE LLC. Arts. of Org. filed 875 Ave of the Americas, NY, NY 08/03/10, the name was changed to: with Secy. of State of NY (SSNY) on 10001, the Reg. Agt. upon whom 718-252-9191 PROJECT TWENTY ONE, LLC. 06/17/11. Office location: NY County. proc. may be served. DE off. addr.: William P. O’Brien, SIOR xtn110 STUNNING BEACH HOUSE Purpose: Any lawful activity. Princ. office of LLC: Daniel Ryan, 195 IN THE DUNES 160 Greentree Dr., Ste. 101, Dover, Chrystie St., #501C, NY, NY 10002. [email protected] DE 19904. Cert. of Form. on file: NOTICE OF FORMATION OF LIMITED SSNY designated as agent of LLC Amagansett SSDE, Townsend Bldg., Dover, DE LIABILITY COMPANY. NAME: SIMCON upon whom process against it may 19901. Purp.: any lawful activities. OFFICE SPACE Impeccable 6,000 SF+/- sq. ft. GROUP LLC. Articles of Organization be served. SSNY shall mail process summer cottage next to reserve. to the LLC at the addr. of its princ. were filed with the Secretary of State Notice of Qualification of Morgan TRIBECA FILM CENTER Exclusive $11.8M office. Purpose: Any lawful activity. of New York (SSNY) on 06/09/11. Stanley & Co. LLC. Authority filed with Executive & Production Office Space Available WEB# 35028 Office location: New York County. NY Dept. of State on 6/2/11. Office NOTICE OF FORMATION OF LIMITED 24 Hour Security SSNY has been designated as agent Joseph DeCristofaro, location: NY County. Princ. bus. addr.: LIABILITY COMPANY. NAME: 2589 Conference Room of the LLC upon whom process Reception Area Salesperson 1585 Broadway, NY, NY 10036. LLC WESTSIDE ENTERPRISES LLC. against it may be served. SSNY shall Screening Room 631.873.5362 formed in DE on 5/31/11. NY Sec. of Articles of Organization were filed with mail a copy of process to the LLC, State designated agent of LLC upon the Secretary of State of New York LONG & SHORT TERM RENTALS 688 Avenue of the Americas, #3, New whom process against it may be (SSNY) on 05/19/11. Office location: 212.941.2000 York, New York 10010. Purpose: For served and shall mail process to: c/o New York County. SSNY has been des- any lawful purpose. CT Corporation System, 111 8th Ave., ignated as agent of the LLC upon whom Notice of Formation of EHT HRPN NY, NY 10011, regd. agent upon whom process against it may be served. MEMBER LLC. Arts. of Org. filed process may be served. DE addr. of SSNY shall mail a copy of process to PUBLIC & LEGAL NOTICES with Secy. of State of N.Y. (SSNY) on LLC: 1209 Orange St., Wilmington, DE the LLC, 253 West 72nd Street, Suite 6/27/11. Office location: New York 19801. Cert. of Form. filed with DE Sec. 211, New York, New York 10023. of State, 401 Federal St., Dover, DE Purpose: For any lawful purpose. Notice of Qualification of TriPointe NOTICE OF FORMATION OF Optimum County. SSNY designated as agent of LLC upon whom process against 19901. Purpose: all lawful purposes. Capital Partners, LLC. Fictitious name: Media Services LLC. Articles of NOTICE OF FORMATION OF: Nano TCP, LLC. Authority filed with Secy. Organization filed with the Secretary it may be served. SSNY shall mail process to: The LLC, 145 East 126th Notice of Qualification of 200 WE Endeavour LLC. Articles of of State of NY (SSNY) on 7/7/11. of State of NY (SSNY) on 04/22/2011. OWNER LLC. App. for Auth. filed Organization filed with the Secretary Office location: NY County. LLC Office location: NEW YORK County. Street, New York, NY 10035. Purpose: any lawful activity. with Secy. of State of NY (SSNY) on of State of NY (SSNY) on 4/20/2011. formed in Delaware (DE) on 12/22/10. SSNY has been designated as agent 6/17/11. Office location: NY County. Office location: NEW YORK County. SSNY designated as agent of LLC upon whom process against it may Notice of Formation of BRP NMTC LLC formed in Delaware (DE) on SSNY has been designated as agent upon whom process against it may be served. The Post Office address FUND MANAGER LLC. Arts. of Org. 5/12/11. SSNY designated as agent upon whom process against it may be served. SSNY shall mail process to which the SSNY shall mail a copy filed with Secy. of State of NY (SSNY) of LLC upon whom process against be served. The Post Office address to: The LLC, 237 Layfayette St., NY, of any process against the LLC served on 6/17/11. Office location: NY it may be served. SSNY shall mail to which the SSNY shall mail a copy NY 10012, also the principal office upon him/her is: United States County. SSNY designated as agent process to: c/o The Klein Group, 25B of any process against the LLC address. Address to be maintained in Corporation Agents, Inc., 7014 13th of LLC upon whom process against Hanover Road, Ste. 130, Florham served upon him/her is: 345 West 50 DE: 2711 Centerville Rd., Ste. 400, Avenue, Suite 202, Brooklyn, NY it may be served. SSNY shall mail Park, NJ 07932. DE address of LLC: Street, #7Z, New York, NY 10019. Wilmington, DE 19808. Arts of Org. 11228. The principal business process to: 18 E. 41st St., NY, NY c/o United Corporate Services, Inc., Purpose: any lawful act or activity. filed with DE Secy. Of State, 401 address of the LLC is: 33 West 19th 10017, Attn: Steve Smith. Purpose: 874 Walker Road, Ste. C, Dover, DE Notice of Qualification of BLACKSTONE Federal St., Ste. 4, Dover, DE 19901. Street, Floor 4, New York, NY 10011 any lawful business purpose. 19904. Arts. of Org. filed with DE Secy. Purpose: any lawful activities. Purpose: media buys. of State, Townsend Bldg., Dover, DE STRATEGIC ALLIANCE MASTER Notice of Qualification of Parks 19901. Purpose: any lawful activity. FUND X L.P. Authority filed with Secy. Notice of Qualification of Acquisition Notice of Qualification of CreditSights Holdings Acquisition Sub LLC. of State of NY (SSNY) on 06/07/11. Office location: NY County. LP Funds GP - L.P. Authority filed with Analytics, LLC. Authority filed with Authority filed with NY Dept. of State Notice of Qualification of AG-Metropolitan formed in Delaware (DE) on 06/01/11. NY Dept. of State on 6/21/11. Office Secy. of State of NY (SSNY) on on 6/24/11. Office location: NY Riverdale Crossing, L.L.C. Authority Princ. office of LP: 345 Park Ave., 28th location: NY County. Princ. bus. 07/01/11. Office location: NY County. County. Princ. bus. addr.: 100 filed with NY Dept. of State on 4/21/11. Fl., NY, NY 10154. SSNY designated addr.: 375 Park Ave., NY, NY 10152. LLC formed in Delaware (DE) on Universal City Plz., Universal City, CA Office location: NY County. Princ. bus. as agent of LP upon whom process LP formed in DE on 6/2/11. NY Sec. 05/23/11. Princ. office of LLC: 470 91608. LLC formed in DE on 6/3/11. addr.: 245 Park Ave., 26th Fl., NY, NY against it may be served. SSNY shall of State designated agent of LP Park Ave. South, 12th Fl., NY, NY NY Sec. of State designated agent 10167. LLC formed in DE on 4/14/11. mail process to Blackstone Strategic upon whom process against it may 10016. SSNY designated as agent of of LLC upon whom process against NY Sec. of State designated agent of Alliance Associates II L.L.C. at the be served and shall mail process to: LLC upon whom process against it may it may be served and shall mail LLC upon whom process against it princ. office of the LP. Name and c/o CT Corporation System, 111 8th be served. SSNY shall mail process to process to: c/o CT Corporation may be served and shall mail process addr. of each general partner are Ave., NY, NY 10011, regd. agent the LLC at the addr. of its princ. office. System, 111 8th Ave., NY, NY 10011, to: c/o CT Corporation System, 111 8th available from SSNY. DE addr. of LP: upon whom process may be served. DE addr. of LLC: Corporation Service regd. agent upon whom process may Ave., NY, NY 10011, regd. agent upon Corporation Service Co., 2711 DE addr. of LP: 1209 Orange St., Co., 2711 Centreville Rd., Ste. 400, be served. DE addr. of LLC: c/o The whom process may be served. DE Centerville Rd., Ste. 400, Wilmington, Wilmington, DE 19801. Name/addr. Wilmington, DE 19808. Cert. of Form. Corporation Trust Co., 1209 Orange addr. of LLC: The Corporation Trust New Castle Cnty., DE 19808. Cert. of of genl. ptr. available from NY Sec. of filed with Jeffrey W. Bullock, Secy. of St., Wilmington, DE 19801. Cert. of Co., 1209 Orange St., Wilmington, DE Form. filed with DE Secy. of State, State. Cert. of LP filed with DE Sec. State of the State of DE, 401 Federal Form. filed with DE Sec. of State, 19801. Cert. of Form. filed with DE Sec. Div. of Corps., John G. Townsend of State, 401 Federal St., Dover, DE St., Dover, DE 19901-3639. Purpose: 401 Federal St., Dover, DE 19901. of State, 401 Federal St., Dover, DE Bldg., 401 Federal St., Ste. 4, Dover, 19901. Purpose: any lawful activity. Any lawful activity. Purpose: all lawful purposes. 19901. Purpose: any lawful activity. DE 19901. Purpose: Investments.

20 | Crain’s New York Business | July 25, 2011 nb30p20-22cl.qxp 7/22/11 3:05 PM Page 21

PUBLIC & LEGAL NOTICES

Notice of Qualification of VCRK Notice of Qualification of 200/300 Notice of Qualification of Morgan Notice of Formation of STUART KLODA, Notice of Qual. of 1552 Broadway Holdings LLC. Authority filed with NY North End Avenue Capital LLC. Stanley HedgePremier/York Credit MD, PLLC. Arts. of Org. filed with Secy. Retail Owner LLC, Auth. filed Sec’y of Dept. of State on 6/15/11. Office Authority filed with Secy. of State of Opportunities Fund LP. Authority filed of State of NY (SSNY) on 05/31/11. State (SSNY) 5/4/11. Office loc.: NY location: NY County. Princ. bus. addr.: NY (SSNY) on 06/23/11. Office loca- with NY Dept. of State on 4/6/11. Office location: NY County. Princ. County. LLC org. in DE 4/29/11. SSNY 411 W. Putnam Ave., Greenwich, CT tion: NY County. LLC formed in Office location: NY County. Princ. bus. office of PLLC: Stuart Kloda, MD, 500 desig. as agent of LLC upon whom 06830. LLC formed in DE on 6/9/11. Delaware (DE) on 06/20/11. SSNY addr.: 522 Fifth Ave., 13th Fl., NY, NY W. 56th St., Apt. 524, NY, NY 10019. process against it may be served. NY Sec. of State designated agent of designated as agent of LLC upon 10036. LP formed in DE on 4/5/11. NY SSNY designated as agent of PLLC SSNY shall mail copy of proc. to LLC upon whom process against it may whom process against it may be Sec. of State designated agent of LP upon whom process against it may NRAI, 875 Ave of the Americas, NY, be served and shall mail process to: served. SSNY shall mail process to upon whom process against it may be be served. SSNY shall mail process NY 10001, the Reg. Agt. upon whom c/o CT Corporation System, 111 8th c/o Corporation Service Co. (CSC), served and shall mail process to: c/o to the PLLC at the addr. of its princ. proc. may be served. DE off. addr.: Ave., NY, NY 10011, regd. agent upon 80 State St., Albany, NY 12207-2543. CT Corporation System, 111 8th Ave., office. Purpose: Any lawful activity. 160 Greentree Dr., Ste. 101, Dover, whom process may be served. DE DE addr. of LLC: c/o CSC, 2711 NY, NY 10011, regd. agent upon whom DE 19904. Cert. of Form. on file: addr. of LLC: The Corporation Trust Centerville Rd., Ste. 400, Wilmington, process may be served. DE addr. of NOTICE OF FORMATION OF Jojotalk SSDE, Townsend Bldg., Dover, DE Co., 1209 Orange St., Wilmington, DE DE 19808. Cert. of Form. filed with LP: 1209 Orange St., Wilmington, DE LLC. Arts of Org filed with the Secy 19901. Purp.: any lawful activities. 19801. Cert. of Form. filed with DE Sec. State of DE, Secy. of State, Div. of 19801. Name/addr. of genl. ptr. of State of NY (SSNY) on 04/05/11. of State, 401 Federal St., Dover, DE Corps., John G. Townsend Bldg., available from NY Sec. of State. Office location: NY County. SSNY Notice of Formation of FLATIRON 19901. Purpose: any lawful activity. 401 Federal St., Ste. #4, Dover, DE Cert. of LP filed with DE Sec. of has been designated as agent upon ARCHITECTS LLC. Arts. of Org. filed 19901. Purpose: Any lawful activity. State, 401 Federal St., Dover, DE whom process may be served and with Secy. of State of NY (SSNY) on Notice of Formation of Special Event 19901. Purpose: any lawful activity. shall mail a copy of any process to 06/20/11. Office location: NY County. Consulting LLC. Arts. of Org. filed Notice of Formation of LOWLAND the principal business address: SSNY designated as agent of PLLC with Secy. of State of NY (SSNY) on PRODUCTIONS LLC. Arts. of Org. Notice of Formation of AC Hocek 1173A 2nd Avenue #134, NY, NY upon whom process against it may 5/16/06. Office location: NY Co. filed with Secy. of State of NY Architecture LLC. Articles of Org. filed 10065. Purpose: any lawful acts. be served. SSNY shall mail process SSNY designated as agent of LLC (SSNY) on 06/09/11. Office location: with Secy. of State of NY (SSNY) on to the LLC, 6 W. 18th St., NY, NY upon whom process against it may NY County. SSNY designated as 03/30/11. Office loc.: New York Co. Notice of Formation of Bowtie 10011. Purpose: Architecture. be served. SSNY shall mail process agent of LLC upon whom process SSNY designated as agent of LLC Properties LLC. Art. Of Org. filed with to: Louis Rose, 19 East 95th St., Apt. against it may be served. SSNY shall upon whom process against it may be SSNY on 5/20/11. Office Location: Notice of Formation of Donzoola LLC. 3F, NY, NY 10128. Purpose: any law- mail process to Jason Ludman, 124 served. SSNY shall mail process to the NY County. SSNY designated as Articles of Org. filed with Secy. of State ful activities. E. 24th St., Apt. 4H, NY, NY 10010. LLC, 285 Lafayette Street, 4B, NY, NY agent for process. SSNY shall mail a of NY (SSNY) on 05/19/11. Office Purpose: Any lawful activity. 10012. Purpose: any lawful activity. copy of any process to: c/o Robert loc.: New York Co. SSNY designated Notice of Formation of PETE THE C. Susser, Esq., 270 Madison Ave., as agent of LLC upon whom process DOG, LLC. Arts. of Org. filed with Secy. Name: 5th AVE DOLLAR LLC Art. Of NOTICE OF FORMATION of FIELDSTONE 15th Fl NY, NY 10016. Purpose: To against it may be served. SSNY shall of State of N.Y. (SSNY) on 6/29/11. Org. Filed Sec. of State of NY WORLD LLC. Article of Organization engage in any lawful act or activity. mail process to the LLC, 49 E 21st Office location: New York County. 03/22/2011. Off Loc.: New York Co. filed with the Secretary of State of NY ST APT 2D, New York, NY 10010. SSNY designated as agent of LLC SSNY designated as agent upon (SSNY) on 01/26/11. Office location: NY OPPCAP GROUP LLC, a domestic Purpose: any lawful act or activity. upon whom process against it may whom process against it may be County. SSNY has been designated Limited Liability Company (LLC), filed be served. SSNY shall mail process served. SSNY to mail copy of process as agent upon whom process against with the Sec of State of NY on 4/15/11. Notice of Formation of Troop 41 to: The LLC, 101 West 12th Street, to THE LLC, C/O Muhammad Abbasi, it may be served. SSNY shall mail a NY Office location: New York County. Productions, LLC. Arts. of Org. filed Apt. 7Z, New York, NY 10011-8114. 128 Keswick Drive, Piscataway, NJ copy of any process against the LLC SSNY is designated as agent upon with Secy. of State of NY (SSNY) on Purpose: any lawful activity. 08854. Purpose: Any lawful act. served to: The LLC, 200-210 East whom process against the LLC may 6/23/11. Office location: NY Co. SSNY 65th St., Suite 9M, NY, NY 10065. Notice of Formation of Diana Daimwood be served. SSNY shall mail a copy of designated as agent of LLC upon whom Notice of Formation of BALANCE Purpose of LLC: to engage in any any process against the LLC served process against it may be served. Consulting, LLC. Arts. of Org. filed APPMAKER, LLC, a domestic LLC. lawful act or activity. with Secy. of State of NY (SSNY) on upon him/her to Francis Hager, 14 SSNY shall mail process to: The LLC, Arts. of Org. filed with the SSNY on Deer Path Ln., Berkeley Heights, NJ 41 Great Jones St., 5th Fl., NY, NY 4/28/11. Office location: NY County. AAF HOLDINGS LLC, a domestic 06/01/2011. Office location: NY 07922. General Purposes. 10012. Purpose: any lawful activities. SSNY designated as agent of LLC County. SSNY has been designated as Limited Liability Company (LLC), filed upon whom process against it may be agent upon whom process against the with the Sec of State of NY on served. SSNY shall mail process to: PROFITNESS COLLECTIVE LLC, a Notice of Formation of SHEROW LLC may be served. SSNY shall mail 3/2/2011. NY Office location: New domestic Limited Liability Company United Corporate Services, Inc., 10 York County. SSNY is designated as MANAGEMENT, LLC. Arts. of Org. a copy of process to: C/O Balance (LLC), filed with the Sec of State of NY filed with Secy. of State of NY (SSNY) Bank St., Ste. 560, White Plains, NY Media, 34 W 27th St. 6th Fl, NY, NY agent upon whom process against 10606. Purpose: any lawful activity. on 6/17/11. NY Office location: New on 6/8/2011. Office location: NY 10010. Purpose: Any Lawful Purpose. the LLC may be served. SSNY shall York County. SSNY is designated as mail a copy of any process against County. SSNY designated as agent of agent upon whom process against LLC upon whom process against it may Notice of Qualification of El Toro NAKEDPIZZA NYC 14TH STREET, the LLC served upon him/her to The the LLC may be served. SSNY shall be served. SSNY shall mail process Carmesi, LLC. Application for LLC; Arts., of Org., filed with NY Sec. LLC, c/o Elisabeth M. Kovac, Esq., mail a copy of any process against to: c/o Vaslas, Lepowsky, Hauss & Authority filed with Secy. of State of of State (“SSNY”) 2/28/2011. Office 90 Park Ave., Ste. 1710, NY, NY the LLC served upon him/her to The Danke, LLP, 630 Third Ave., 5th Fl., NY, NY (SSNY) on 05/06/11. Office loc.: in New York County; SSNY designated 10016. General Purposes. LLC, 52 ST. NICHOLAS PLACE, #54, NY 10017. Term: until 12/31/2061. New York Co.; orig. juris.: Texas. SSNY agent for service of process with copy NY, NY 10031. General Purposes. Purpose: any lawful activity. designated as agent of LLC upon whom mailed to Pryor Cashman LLP, 7 Times CAMPRODON INVESTORS LLC, a process against it may be served. SSNY Square, Attn: Richard S. Frazer, Esq., domestic Limited Liability Company shall mail process to the LLC, 6904 (LLC), filed with the Sec of State of NY NOTICE IS HEREBY GIVEN that a Notice of Formation of HUDSON As amended by Cert. of Amend., filed license number 1255696 for an on STREET SOUPS LLC. Arts. of Org. Hideaway Hollow, Austin, TX 78750. with SSNY on 4/21/11, the name of on 3/7/11. NY Office location: New Purpose: any lawful act or activity. York County. SSNY is designated as premises liquor license has been filed with Secy. of State of NY (SSNY) LLC is NP NYC 14TH STREET, LLC., applied for by Vargomez Corp. to sell on 05/26/11. Office location: NY All lawful business purposes. agent upon whom process against Notice of Formation of SoCreo the LLC may be served. SSNY shall liquor at retail in a restaurant under the County. Princ. office of LLC: Hale and Fashion House, LLC. Arts. of Org. Notice of Formation of NS MEDICAL mail a copy of any process against Alcoholic Beverage Control Law at Hearty Soups LLC, 75 Ninth Ave., NY, filed with NY Dept. of State on PLLC. Arts. of Org. filed with Secy. of the LLC served upon him/her to 300 East 5th Street, New York, N.Y. NY 10011. SSNY designated as agent 5/31/11. Office location: NY County. State of NY (SSNY) on 5/26/11. Office Blumberg Excelsior Corporate 10003 for on premises consumption. of LLC upon whom process against it Sec. of State designated agent of location: NY County. SSNY designated Services, Inc., 62 White St., NY, NY may be served. SSNY shall mail LLC upon whom process against it as agent of PLLC upon whom process 10013. General Purposes. NOTICE OF FORMATION of Peasant process to c/o Corporation Service may be served and shall mail against it may be served. SSNY shall Prince Productions LLC. Article of Co., 80 State St., Albany, NY 12207. process to the principal business mail process to: The PLLC, 73 Spring Notice of Formation of Betty Rose Organization filed with the Secretary Purpose: Any lawful activity. address: 183 Hester St., #4R, NY, NY St., Ste. 601, NY, NY 10012. Purpose: Properties LLC. Arts. of Org. filed of State of NY (SSNY) on 04/11/2011. 10013. Purpose: all lawful purposes. practice the profession of medicine. with Secy. of State of NY (SSNY) on Office location: NY County. SSNY has GG CLINICAL RESEARCH CONSUL- 6/1/11. Office location: NY Co. SSNY been designated as agent upon whom TANTS, LLC, a domestic Limited Notice of Formation of BLDG 123 THIRD Notice of Formation of CUMULUS designated as agent of LLC upon process against it may be served. Liability Company (LLC), filed with the AVENUE LLC amended to BLDG 123 HR, LLC. Arts. Of Org. filed with Secy whom process against it may be The Post Office address to which the Sec of State of NY on 5/10/11. NY THIRD AVE LLC. Arts. of Org. filed of State of NY (SSNY) on 05/31/2011. served. SSNY shall mail process to: SSNY shall mail a copy of any process Office location: New York County. with Secy. of State of NY (SSNY) on Office location: New York County. c/o Eric W. Rubinstein, Esq., Kaufman against the LLC served upon him is SSNY is designated as agent upon 6/17/11. Office location: NY County. SSNY designated as agent of LLC Friedman Plotnicki & Grun, LLP, 300 C/O the LLC 265 East 66th Street, whom process against the LLC may SSNY designated as agent of LLC upon whom process against it may East 42nd St., 8th Fl., NY, NY 10017, Apt 35G, NY, NY, 10065. Purpose of be served. SSNY shall mail a copy upon whom process against it may be served. SSNY shall mail process also the registered agent. Purpose: LLC: to engage in any lawful act or of any process against the LLC be served. SSNY shall mail process to: c/o Harry Feinberg, 489 Fifth any lawful activities. activity. Street address of Principal served upon him/her to The LLC, to: c/o BLDG Management Co., Inc., Avenue, Second Fl., New York, N.Y. Business location is: 265 East 66th 455 Main St., Apt. 4P, NY, NY 10044. 417 Fifth Ave., 4th Fl., NY, NY 10016. 10017 Purpose: any lawful activities. Notice of Qualification of MILLENNIUM Street, Apt 35G, NY, NY, 10065. General Purposes. Purpose: any lawful activity. TECHNOLOGY VALUE PARTNERS II Notice of Qualification of GIAS FIXED (GP), L.P. Authority filed with Secy. of Notice of Qualification of 180 Orchard INCOME: OPPORTUNISTIC TAX- State of NY (SSNY) on 06/03/11. Place your business card in Crain’s Business Owner LLC. App for Auth. filed with EXEMPT FUND LLC. Authority filed Office location: NY County. LP formed Connection and reach New York City’s Secy. of State of NY (SSNY) on with Secy. of State of NY (SSNY) on in Delaware (DE) on 10/14/08. Princ. 4/27/11. Office location: NY County. 06/23/11. Office location: NY County. office of LP: Millennium TVP II (UGP), Top Level Executives LLC formed in Delaware (DE) on LLC formed in Delaware (DE) on LLC, 747 Third Ave., 38th Fl., NY, NY 4/18/11. SSNY designated as agent 06/16/11. SSNY designated as agent 10017. SSNY designated as agent of of LLC upon whom process against of LLC upon whom process against LP upon whom process against it may it may be served. SSNY shall mail it may be served. SSNY shall mail be served. SSNY shall mail process process to: c/o Brack Capital Real process to c/o Corporation Service to the LP at the addr. of its princ. office. Estate Ltd., 885 Third Ave., NY, NY Co., 80 State St., Albany, NY 12207, Name and addr. of each general 10022, Attn: Issac Hera. DE address regd. agent upon whom and at which partner are available from SSNY. DE of LLC: c/o Diversified Corporate process may be served. DE addr. of addr. of LP: c/o Corporation Service Services Int’l, Inc., 508 Main St., LLC: 2711 Centerville Rd., Ste. 400, Co., 2711 Centerville Rd., Ste. 400, Wilmington, DE 19804. Cert. of Form. Wilmington, DE 19808. Cert. of Form. Wilmington, DE 19808. Cert. of Form. filed with DE Secy. of State, 401 filed with Secy. of State of DE, filed with Secy. of State of DE, Div. of Let Crain’s New York Business Federal St., Ste. 4, Dover, DE 19901. Townsend Bldg., Federal & York, Dover, Corps., 401 Federal St., Ste. 4, Dover, help you secure new clients in 2011. Purpose: any lawful activity. DE 19901. Purpose: Any lawful activity. DE 19901. Purpose: Any lawful activity.

July 25, 2011 | Crain’s New York Business | 21 nb30p20-22cl.qxp 7/22/11 3:05 PM Page 22

PUBLIC & LEGAL NOTICES

Notice of Qualification of GERSON NOTICE OF FORMATION OF Exquity Name of For. LLC: Perella Weinberg Notice of Qualification of MHR INSTI- Notice of Qualification of Eiger GLOBAL CAPITAL ADVISORS LLC. Realty LLC. Articles of Organization Partners ABV Opportunity Delaware TUTIONAL ADVISORS LLC. Authority International Financial Management LLC Authority filed with Secy. of State of filed with the Secretary of State of Intermediate Fund III LLC. App. for filed with Secy. of State of NY (SSNY) App. for Auth. filed Sec’y of State (SSNY) NY (SSNY) on 06/21/11. Office NY (SSNY) on 05/09/11. Office Auth. filed NY Dept. of State: 5/10/11. on 06/07/11. Office location: NY on 6/6/11. Office location: New York location: NY County. LLC formed in location: NEW YORK County. SSNY Jurisd. and date of org.: DE 1/7/11 County. LLC formed in Delaware (DE) County. LLC org. in DE 2/7/11. SSNY Delaware (DE) on 06/17/11. Princ. has been designated as agent upon Cty off. loc.: NY Cty. Sec. of State on 01/26/98. SSNY designated as designated as agent of LLC upon whom office of LLC: c/o Gerson Global whom process against it may be designated as agent of foreign LLC agent of LLC upon whom process process against it may be served. SSNY Advisors, LLC, 70 E. 55th St., 21st served. The Post Office address to upon whom process against it may be against it may be served. SSNY shall shall mail copy of process to 19 West Fl., NY, NY 10022. SSNY designated which the SSNY shall mail a copy of served. Sec. of State shall mail copy mail process to c/o Corporation 44th St., Suite 312, New York, NY 10036. as agent of LLC upon whom process any process against the LLC served of process to: 767 Fifth Ave., NY, NY Service Co. (CSC), 80 State St., Office address in DE 40 E. Division St, against it may be served. SSNY shall upon him/her is: 120 E 34th St Apt 10153. Addr. of foreign LLC in DE is: Albany, NY 12207-2543, regd. agent Suite A, Dover, DE 19901. Cert. of Form. mail process to the LLC at the addr. 10J, New York NY 10016. The Corporation Service Company, 2711 upon whom and at which process on file: SSDE, Div. of Corporations, of its princ. office. DE addr. of LLC: principal business address of the Centerville Rd., Ste. 400, Wilmington, may be served. DE addr. of LLC: c/o John G. Townsend Bldg., 401 Federal c/o Corporation Service Co., 2711 LLC is: 120 E 34th St Apt 10J, DE 19808. Auth. officer in DE where CSC, 2711 Centerville Rd., Ste. 400, St., Suite 4, Dover, DE 19901. Purpose: Centerville Rd., Ste. 400, Wilmington, New York NY 10016. Purpose: any Cert. of Form. filed: DE Secy. of Wilmington, New Castle Cnty., DE any lawful activities. DE 19808. Cert. of Form. filed with lawful act or activity. State, Duke & York St., Dover, DE 19808. Cert. of Form. filed with Secy. Secy. of State of the State of DE, Div. 19901. Purpose: any lawful activity. of State of the State of DE, 401 Notice of Formation of DIEPPA of Corps., P.O. Box 898, Dover, DE NOTICE OF FORMATION OF Farley Federal St., Dover, DE 19901. RESTREPO LLC, a domestic LLC. 19903. Purpose: Any lawful activity. Realty Group LLC filed with the NOTICE OF FORMATION of Anna Purpose: Any lawful activity. Arts. of Org. filed with the SSNY on Secretary of State of NY (SSNY) on Seibert LLC. Arts. of Org. filed w/ Sec 05/09/2011. Office location: NY County. Notice of Qualification of Fillmore East 2/25/11. Office loc: NEW YORK Cty. of State of NY (SSNY) on 4/29/11. HIDDEN VALLEY FILMS LLC, a SSNY has been designated as agent BS Finance Subsidiary, LLC. Authority SSNY designated as agent upon whom Office location: NY County. Principal domestic Limited Liability Company upon whom process against the LLC filed with NY Dept. of State on 4/8/11. process may be served. SSNY shall Business address: 330 3rd Ave, 4H, (LLC), filed with the Sec of State of NY may be served. SSNY shall mail a copy Office location: NY County. LLC formed mail process to the LLC: 60 E 42nd NY, NY 10010. SSNY has been desig- on 5/27/11. NY Office location: New of process to: 29 Essex St., NY, NY in DE on 1/19/06. NY Sec. of State Street, Suite 1841, New York, New nated as agent upon whom process York County. SSNY is designated as 10002. Purpose: Any Lawful Purpose. designated agent of LLC upon whom York 10165. Purpose: any lawful acts. against it may be served and shall agent upon whom process against the process against it may be served and mail process to: c/o Anna Seibert LLC, LLC may be served. SSNY shall mail 116 AVENUE C, LLC, a domestic NOTICE OF FORMATION of shall mail process to the principal 330 3rd Ave, 4H, NY, NY 10010. Date a copy of any process against the LLC Limited Liability Company (LLC), filed McKane-Lins, LLC. Arts. of Org. filed business addr.: c/o Windels Marx Lane for Dissolution: None. Purpose of served upon him/her to The LLC, 242 with the Sec of State of NY on with Secy. of State of NY (SSNY) on & Mittendorf LLP, 156 W. 56th St., 23rd LLC: any lawful activity. West 38th St., P.O. Box 905, NY, NY 4/26/11. NY Office location: New York Fl., NY, NY 10019, Attn: Tina Gagliano. 4/26/11. Office location: NY County. County. SSNY is designated as RESOURCE FURNITURE LICENSING, 10018. General Purposes. DE addr. of LLC: c/o Corporation SSNY designated as agent of LLC agent upon whom process against the LLC, a domestic Limited Liability Service Co., 2711 Centerville Rd., upon whom process against it may LLC may be served. SSNY shall mail Company (LLC), filed with the Sec of Notice of Formation of 254 W10TH Ste. 400, Wilmington, DE 19808. be served. SSNY shall mail process a copy of any process against the State of NY on 3/17/11. NY Office STREET P/L LLC. Arts. of Org. filed Cert. of Form. filed with DE Sec. of to: 520 E. 90th St., 2A, NY, NY LLC served upon him/her to Marolda location: New York County. SSNY is with Secy. of State of NY (SSNY) on State, 401 Federal St., Dover, DE 10128. Purpose: any lawful activity. Properties, Inc., 46 Trinity Pl., 3rd Fl., designated as agent upon whom 06/15/11. Office location: NY County. 19901. Purpose: any lawful activity. Princ. office of LLC: 7 Times Sq., NY, NY 10006. General Purposes. Infrared Capital Partners (US) LLC; process against the LLC may be Latest date to dissolve 5/1/2041. App., for Auth., filed with NY Sec. of served. SSNY shall mail a copy of NY, NY 10036-7311. SSNY Notice of Qualification of IRG 38 LLC. designated as agent of LLC upon Authority filed with Secy. of State of NY State (“SSNY”) 5/09/2011. Office in any process against the LLC served ALPHA JETS, LLC, a domestic New York County; LLC formed in DE upon him/her to The LLC, 969 Third whom process against it may be Limited Liability Company (LLC), filed (SSNY) on 06/06/11. Office location: served. SSNY shall mail process to NY County. LLC formed in Delaware on 1/12/2011, SSNY designated Ave., NY, NY 10022. General Purposes. with the Sec of State of NY on agent for service of process with c/o G. Warren Whitaker, Esq., Day 5/19/11. NY Office location: New (DE) on 06/03/11. Princ. office of LLC: NOTICE OF FORMATION of limited copy mailed to c/o HSBC Capital Pitney LLP at the princ. office of the York County. SSNY is designated as ELB Holdings c/o Eric L. Birnbaum, liability company (LLC). Name: ZCAM, (USA) Inc., 452 Fifth Ave, NY, NY LLC. Purpose: Any lawful activity. agent upon whom process against 745 5th Ave., NY, NY 10151. SSNY LLC. Articles of Organization filed 10018. All lawful business purposes. the LLC may be served. SSNY shall designated as agent of LLC upon with Sec. of State of NY (SSNY) on Notice of Formation of Harlem Dowling mail a copy of any process against whom process against it may be 6/6/11. Office location: New York Co. NAKEDPIZZA NYC 57TH STREET, LLC; Managers LLC, Art. of Org. filed the LLC served upon him/her to The served. SSNY shall mail process to SSNY designated as agent of LLC Arts., of Org., filed with NY Sec. of Sec’y of State (SSNY) 4/27/11. Office LLC, 400 E. 54th St., Ste. 6G, NY, NY the LLC at the addr. of its princ. office. upon whom process against it may be State (“SSNY”) 2/28/2011. Office in location: NY County. SSNY desig- 10022. General Purposes. DE addr. of LLC: 2711 Centerville New York County; SSNY designated served and address SSNY shall mail nated as agent of LLC upon whom Rd., Ste. 400, Wilmington, DE 19808. agent for service of process with a copy of process is 54 West 39th process against it may be served. Cert. of Form. filed with Secy. of Name: AMERIGO A LLC Art Of Org. copy mailed to Pryor Cashman LLP, 7 Street, 15th Floor, New York, New York SSNY shall mail copy of process to Filed Sec. Of State of NY 05/04/2011. State, 401 Federal St., Dover, DE Times Square, Attn: Richard S. Frazer, 10018. Purpose: any lawful purpose. 37 W. 20th St., Ste. 603, NY, NY 19901. Purpose: Any lawful activity. Off. Loc.: New York Co. SSNY desig- Esq., As amended by Cert. of Amend., 10011. Purpose: any lawful activities. nated as agent upon whom process filed with SSNY on 4/21/11, the name NOTICE OF FORMATION of TOLM Notice of Formation of F. Afrique Media, against it may be served. SSNY to of LLC is NP NYC 57th STREET, LLC., ENTERPRISES LLC. Arts of Org filed LLC. Arts. of Org. filed with Secy. of Notice of Formation of 4 CHELSEA mail copy of process to THE LLC All lawful business purposes. with the Secy of State of New York SQUARE, LLC. Arts. of Org. filed with State of NY (SSNY) on 6/21/11. (SSNY) on 03/25/2009. Office location: C/O, Sau Lan Moi, 158 Hester Street, Secy. of State of NY (SSNY) on #5G, New York, NY10013. Purpose: Office location: NY County. SSNY Notice of Formation of 400 PROPERTY, NY County. SSNY has been designated designated as agent of LLC upon 07/13/11. Office location: NY County. Any lawful act or activity. LLC. Arts. of Org. filed with Secy. of as an agent upon whom process may Princ. office of LLC: 400 W. 59th St., whom process against it may be State of NY (SSNY) on 07/06/11. be served and shall mail a copy of any NY, NY 10019-8200. SSNY designated Name: TradeSense LLC. Art. Of Org. served. SSNY shall mail process to: Office location: NY County. Princ. process against to the principal busi- as agent of LLC upon whom process Filed Sec. Of State of NY on 12/23/10. c/o The LLC, 60 5th Avenue, NY, NY office of LLC: 667 Madison Ave., 24th ness address:425 5th Ave, #59B NY, against it may be served. SSNY shall Off. Loc.: New York Co. SSNY 10011. Purpose: any lawful activity. Fl., NY, NY 10065. SSNY designated NY 10016. Purpose: any lawful acts. mail process to the LLC, c/o J. Dean designated as agent upon whom as agent of LLC upon whom process Amro at the princ. office of the LLC. process against it may be served. NOTICE OF FORMATION OF GENIUS against it may be served. SSNY shall Notice of Qualification of Miller Pipeline, Purpose: Any lawful activity. SSNY to mail copy of process to BRANDS LLC. Filed with Sec’y of mail process to Timothy P. Terry at LLC. Authority filed with NY Dept. of TradeSense LLC , 301 E. 79th St. State of NY (SSNY) on 5/17/11. Office the princ. office of the LLC. Purpose: State on 6/2/11. Office location: NY THIRTEEN LIMITED PARTNERSHIP, 24F, New York, NY 10075. Purpose: loc: NY County. SSNY designated as Any lawful activity. County. LLC formed in IN on 12/31/10. agent upon whom process may be NY Sec. of State designated agent of a domestic Limited Partnership (LP), Any lawful act or activity. served. Mail copy of process to: USCA, Notice of Formation of ICS Manager LLC upon whom process against it filed with the Sec of State of NY on 7014 13th Ave, Ste 202, Bklyn, NY 1501 86th Street, LLC. Arts. of Org. may be served and shall mail process 5/19/11. NY Office location: New Notice of Formation of 306 WEST 97 11228. LLC business address is: 350 filed with Secy. of State of NY (SSNY) to: c/o CT Corporation System, 111 York County. SSNY is designated as COVE CLUB EQUITIES LLC. Arts. of 5th Ave, FL 4, NY, NY 10118. on 4/5/11. Office location: NY Co. 8th Ave., NY, NY 10011, regd. agent agent upon whom process against Org. filed with Secy. of State of NY Purpose: Any lawful acts. SSNY designated as agent of LLC upon whom process may be served. the LP may be served. SSNY shall (SSNY) on 06/01/11. Office location: upon whom process against it may IN and principal business addr.: mail a copy of any process against NY County. Princ. office of LLC: 55 ROTHSCHILD REALTY ASSOCIATES, be served. SSNY shall mail process 8850 Crawfordsville Rd., Indianapolis, the LP served upon him/her to Stones Fifth Ave., 15th Fl., NY, NY 10003- LLC; Arts., of Org., filed with NY Sec. to: c/o Crown Acquisitions, Inc., Attn: IN 46234. Cert. of Form. filed with IN Throw Partners Limited Liability 4398. SSNY designated as agent of of State (“SSNY”) 5/16/2011. Office in Richard Chera, 362 Fifth Ave., Ste. Sec. of State, 302 W. Washington St., Company, Attn: Evan Bell, Managing LLC upon whom process against it New York County; SSNY designated 1201, NY, NY 10001. Purpose: any Indianapolis, IN 46204. Purpose: all Member, 380 Lexington Ave., NY, NY may be served. SSNY shall mail agent for service of process with copy lawful activities. lawful purposes. 10168. Latest date to dissolve process to Robert Kantor at the princ. mailed to The LLC, 265 E. 66th Street, 12/31/2099. General Purposes. office of the LLC, regd. agent upon NY, NY 10065, Attn: Marc Rothschild, Notice of Qualification of ALVAREZ & Notice of Qualification of BAYRIDGE whom and at which process may be All lawful business purposes. MARSAL GLOBAL ASSET ADVISORY SECURITIES, LLC. Authority filed Notice of Qualification of SAVANNA served. Purpose: Any lawful activity. SERVICES, LLC. Authority filed with with Secy. of State of NY (SSNY) on SERVICES HOLDINGS, LLC. Authority Notice of Qualification of HHLP Union Secy. of State of NY (SSNY) on 5/5/11. Office location: NY County. filed with Secy. of State of NY (SSNY) Notice of Qualification of Fillmore East Square Associates, LLC. Authority 06/02/11. Office location: NY County. LLC formed in Delaware (DE) on on 05/25/11. Office location: NY MS Finance Subsidiary, LLC. Authority filed with NY Dept. of State on 6/15/11. LLC formed in Delaware (DE) on 10/7/10. SSNY designated as agent County. LLC formed in Delaware (DE) filed with NY Dept. of State on 3/30/11. Office location: NY County. Princ. bus. 06/03/10. Princ. office of LLC: Joel of LLC upon whom process against on 05/24/11. Princ. office of LLC: 10 Office location: NY County. LLC addr.: 44 Hersha Dr., Harrisburg, PA A. Poretsky, Esq., Alvarez & Marsal, it may be served. SSNY shall mail E. 53rd St., 37th Fl., NY, NY 10022- formed in DE on 2/24/06. NY Sec. of 17102. LLC formed in DE on 6/14/11. 600 Lexington Ave., NY, NY 10022. process to: National Registered Agents, 5056. SSNY designated as agent of State designated agent of LLC upon NY Sec. of State designated agent of SSNY designated as agent of LLC Inc., 875 Ave. of The Americas, Ste. LLC upon whom process against it whom process against it may be served LLC upon whom process against it upon whom process against it may 501, NY, NY 10001. Principal office may be served. SSNY shall mail and shall mail process to the principal may be served and shall mail process be served. SSNY shall mail process address: The LLC, 825 Third Ave, 6th process to c/o Corporation Service business addr.: c/o Windels Marx Lane to: c/o CT Corporation System, 111 to c/o Corporation Service Co. Floor, NY, NY 10022. Address to be Co., 80 State St., Albany, NY 12207- & Mittendorf LLP, 156 W. 56th St., 23rd 8th Ave., NY, NY 10011, regd. agent (CSC), 80 State St., Albany, NY maintained in DE: c/o National 2543. DE addr. of LLC: 2711 Fl., NY, NY 10019, Attn: Tina Gagliano. upon whom process may be served. 12207-2453. DE addr. of LLC: c/o Registered Agents, Inc., 160 Greentree Centerville Rd., Ste. 400, Wilmington, DE addr. of LLC: c/o Corporation DE addr. of LLC: 1209 Orange St., CSC, 2711 Centerville Rd., Ste. 400, Dr., Ste. 101, Dover, DE 19904. Arts DE 19808. Cert. of Form. filed with Service Co., 2711 Centerville Rd., Wilmington, DE 19801. Cert. of Form. Wilmington, DE 19808. Cert. of of Org. filed with DE Secy. Of State, Secy. of State of DE, Div. of Corps., Ste. 400, Wilmington, DE 19808. filed with DE Sec. of State, 401 Form. filed with Secy. of State of John G. Townsend Bldg., 401 John G. Townsend Bldg., 401 Federal Cert. of Form. filed with DE Sec. of Federal St., Dover, DE 19901. DE, 401 Federal St., Dover, DE Federal St., Ste. 4, Dover, DE 19901. St., Ste. 4, Dover, DE 19901. State, 401 Federal St., Dover, DE Purpose: any lawful activity. 19901. Purpose: Any lawful activity. Purpose: any lawful activities. Purpose: Any lawful activity. 19901. Purpose: any lawful activity.

22 | Crain’s New York Business | July 25, 2011 CN014517 7/21/11 10:54 AM Page 1

DATE MEET CRAIN’S MONDAY, SEPTEMBER 19, 2011

PLACE MOST 2011 583 PARK AVENUE TIME POWERFUL 12:00-2:00 PM PURCHASE TICKETS in INDIVIDUALS: $299 WOMEN TABLES OF TEN: $3,000 For tickets, go to NEW YORK CITY www.crainsnewyork.com/events-women

Crain’s New York Business recognizes what it means to command incredible power in this city. On September 19th, Crain’s will honor The 50 Most Powerful Women in New York City—an authoritative list of the most important female leaders running businesses and organizations that drive New York’s economy. Meet these elite women and join Crain’s in commemorating their accomplishments at an exclusive luncheon.

For more information about sponsorship and advertising opportunities, contact Trish Henry at 212.210.0711 or [email protected] 20110725-NEWS--0024-NAT-CCI-CN_-- 7/22/2011 4:13 PM Page 1

FOR THE RECORD

or [email protected]. The firm will occupy the entire 10th between July 5 and July 12, in a floor. Randy Sherman of Murray Hill transaction worth $13,953,035. It now ABOUT THIS SECTION GOODS AND SERVICES Properties represented the tenant, and directly holds 13,056,400 shares. ● Board of Elections FOR THE RECORD is a weekly listing of information from the public record that Chris Wilson of Stribling & Associates Seeks competitive sealed bids by represented the landlord. The actual rent ● Estée Lauder Co. (EL) can help businesspeople in the New York area find opportunities, potential 10:20 a.m. on Aug. 4 for qualified was $52 per square foot. Fabrizio Freda, president, chief new clients and updates on competitors. vendors to provide taxis or for-hire executive and director, sold 42,227 To ask questions or get more information on this section, contact Suzanne vehicles with chauffeurs for surveyors ● NABET CWA Local 16 signed an shares of common stock at $104.47 Panara at [email protected]. to use for election operations. To 11-year lease for 3,400 square feet at 229 on July 11, in a transaction worth make inquiries, contact Gwendolyn W. 28th St. David Danick and Michael $4,411,286. He now directly holds Youngblood at (212) 487-7213 or Okun of Coldwell Banker Commercial 12,974 shares. [email protected]. Hunter Phoenix represented the broadcast employees union; Winoker ● Regeneron Pharmaceuticals Inc. BANKRUPTCIES ● Suite 2525 ● Economic Development Corp. Realty Co.’s Barry Bernstein represented (REGN) 230 Park Ave., Manhattan Requests proposals by 4 p.m. on Sept. 6 landlord Joss Realty Partners. The P.Roy Vagelos, chairman of the board, The following listings are selected Filed for Chapter 11 bankruptcy for the development and operation of asking rent was $32 per square foot. sold 74,342 shares of common stock at from the most recent available filings protection on July 11. The filing cites the New York City Fashion Fellows prices ranging from $56.69 to $59.06 by companies seeking bankruptcy protection estimated liabilities of $500,001 to program with fashion industry RETAIL between July 11 and July 13, in a trans- in the Southern and Eastern Districts $1 million and estimated assets of stakeholders. Bid documents can be ● Kate Spade signed a lease for more action worth $4,267,750. He now indi- of New York. Information was obtained $100,001 to $500,000. Among the downloaded from www.nycedc.com/rfp. than 80,000 square feet of space at 2 rectly holds 573,497 shares. from U.S. Bankruptcy Court records creditors with the largest unsecured To make inquiries, contact Maryann Park Ave. The retailer will occupy floors available on Public Access to Court claims are Ambassador Construction Catalano at (212) 312-3969 or eight and 12. Newmark Knight Frank’s Michael S. Brown, independent director, Electronic Records. Listings are in alpha- Co., owed $14,135; AKF, owed [email protected]. David Falk represented the tenant, and exercised options on 25,000 shares of betical order. $1,281.04; and Brookbridge, owed $880. Cushman & Wakefield’s Mitch Arkin common stock at prices ranging from ● Health and Hospitals Corp. and Tara Stacom represented the $15.80 to $28.81 on July 1, in a ● 243rd Street Bronx R&R ● Superior Technology Solutions Inc. Seeks competitive sealed bids by 2 p.m. landlord. The rent was in the mid-$40s transaction worth $590,150. On the 703 W. 145th St., Manhattan 110 W. 31st St., Manhattan on Aug. 10 for the monthly delivery of per square foot. same day, he sold 25,000 shares of Filed for Chapter 11 bankruptcy Filed for Chapter 11 bankruptcy approximately 100 cases of assorted common stock at prices ranging from protection on July 8. The filing cites protection on July 15. The filing cites unsweetened juices to the Sea View ● The Ivanka Trump Fine Jewelry $55.89 to $56.45, in a transaction worth estimated liabilities of $10,000,001 to estimated liabilities of $100,001 to Hospital Rehabilitation Center and Collection signed a lease for 3,100 $1,407,041. He now directly holds $50 million and estimated assets of $500,000 and estimated assets of $0 to Home on Staten Island. To make square feet at 109 Mercer St. Joseph 14,662 shares. $1,000,001 to $10 million. Among the $50,000. Among the creditors with the inquiries, contact Pedro Irizarry at Aquino and Faith Hope Consolo of creditors with the largest unsecured largest unsecured claims are Bank of (718) 317-3375 or [email protected]. Prudential Douglas Elliman’s retail ● John Wiley & Sons Inc. (JWa) claims are Tristate Realty Holdings, America, owed $229,322; 110 W. 31 St. group represented both the tenant and William J. Pesce, president, chief owed $820,000; Consolidated Edison, Realty Corp., owed $114,660; and ● Housing Authority the landlord, Continental Ventures executive and director, sold 39,098 owed $5,470; and Range Emergency Chase, owed $85,488. Seeks competitive sealed bids by 10:50 Realty.The asking rent was $400,000 shares of common stock at prices Repair, owed $4,700. a.m. on Aug. 5 for consulting services, per year. ranging from $52.09 to $52.69 between field inspections, and testing and July 7 and July 14, in a transaction worth ● Arnow Avenue Development GOVERNMENT CONTRACT analysis of paint systems at various $2,041,575. He now directly holds 1906 Arnow Ave., Bronx OPPORTUNITIES developments in the Bronx, Brooklyn, STOCK TRANSACTIONS 445,494 shares. Filed for Chapter 11 bankruptcy Manhattan and Queens. Bid protection on June 28. The filing cites Following are selected contract documents can be downloaded Following are recent insider transactions at ● Dime Community Bancshares Inc. estimated liabilities of $1,000,001 to opportunities recently announced by New from www.nyc.gov/nychabusiness. New York’s largest publicly held companies (DCOM) $10 million and estimated assets York City agencies.To learn how to sell To make inquiries, contact Sabrina filed with the Securities and Exchange Vincent F. Palagiano, chairman of the of $0 to $50,000. The listed creditor goods and services to city government, visit Steverson at (212) 306-6771 or Commission by executives and major board and chief executive, exercised with an unsecured claim is Certified www.nyc.gov/selltonyc. For a searchable [email protected]. shareholders. Listings are in order of options on 80,000 shares of common Testing Labs, owed $2,670. database of current procurement notices, transaction value.The information was stock at $10.91 between June 30 and visit www.nyc.gov/cityrecord. Listings are ● Housing Authority obtained from Thomson Reuters. July 7, in a transaction worth $872,800. ● Nemrah Realty Corp. alphabetical by category and department. Requests proposals by 4 p.m. on Aug. 5 During the same period, he sold 80,000 66-52 79th St., Queens for consultant services to conduct ● MasterCard Inc. (MA) shares of common stock at prices Filed for Chapter 11 bankruptcy CONSTRUCTION SERVICES searches for suitable candidates for The MasterCard Foundation sold ranging from $14.50 to $15.06, in a protection on June 28. The filing cites ● Department of Design and Construction various information technology 44,520 shares of common stock at prices transaction worth $1,181,683. He now estimated liabilities of $1,000,001 to Seeks competitive sealed bids by 2 p.m. positions. The RFP can be downloaded ranging from $307.09 to $319.50 directly holds 1,029,700 shares. Ⅲ $10 million and estimated assets of on Aug. 18 for asbestos abatement from www.nyc.gov/nychabusiness. $1,000,001 to $10 million. Among the within the five boroughs. Bid documents To make inquiries, contact Maria creditors with the largest unsecured can be downloaded from Manfredi at (212) 306-4666 or claims are Matthew M. Caldarella, www.nyc.gov/ddc. There will be a [email protected]. DEALS ROUNDUP owed $144,000; Anthony S. Bottitta, mandatory prebid conference at 10 a.m. owed $65,000; and the New York City on Aug. 8 in the DDC bid room at Water Board, owed $32,500. 30-30 Thomson Ave., Long Island City, REAL ESTATE DEALS TRANSACTION SIZE Queens. To make inquiries, contact Ben SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE ● Platinum Select Mortgage Corp. Perrone at (718) 391-2614. Companies that would like to have Caxton Associates, $14,955.7 BHP Billiton Group SB M&A 92 Atlantic Ave., Freeport, L.I. details of their recent transactions CastleRock Management Filed for Chapter 7 bankruptcy ● Department of Parks and Recreation appear in these listings should e-mail (Manhattan), GLG Partners Inc. protection on July 15. The filing cites Seeks competitive sealed bids by 10:30 descriptions following this format to (Manhattan), Bass Co., Ridgecrest estimated liabilities of $500,001 to a.m. on Aug. 17 for the construction of a [email protected], with “Real Investment Management $1 million and estimated assets of $0 to playground and park between West estate transaction” in the (Manhattan), Guggenheim Advisors, $50,000. Among the creditors with the 162nd and West 164th streets and the subject line, or enter them online at Global Capital Ltd., Chestnut Ridge Capital/ largest unsecured claims are Indymac reconstruction of Fort Washington Park crainsnewyork.com/submitadeal. Deals Petrohawk Energy Corp. Mortgage, owed $775,000; Bethpage between West 155th and West 168th are listed in order of square footage. Goldman Sachs Group $6,286.1 Apax Partners Worldwide, CPP FB M&A Federal Credit Union, owed $49,788.10; streets in Manhattan. Bid documents merchant banking division Investment Board, Public Sector Pension and Chase, owed $15,252. can be purchased in the Blueprint COMMERCIAL (Manhattan), Goldman Sachs Asset Investment Board ● Room, room 64, Olmsted Center, Pine River Capital Management Management (Manhattan)/ ● Royal Meadows Inc. Flushing, Queens, from 8 a.m. to signed a lease for 25,100 square feet at Kinetic Concepts Inc. 96-62 Queens Blvd., Queens 3 p.m. To make inquiries, contact 590 Madison Ave. The asset management J.P. Morgan Chase & Co. $848.0 Canadian Imperial Bank of Commerce SB M&A Filed for Chapter 11 bankruptcy Juan Alban at (718) 760-6771 or firm will move from its current 7,000 (Manhattan)/Kinetic Concepts Inc. (41%) protection on June 28. The filing [email protected]. square feet on the 37th floor to the Rivergate (Manhattan), $687.0 UDR Inc. SB M&A cites estimated liabilities of $1,000,001 entire 38th floor. Studley’s Daniel Posy 21 Chelsea (Manhattan), View 14 ● Department of Sanitation to $10 million and estimated assets of and Joe Messina represented the tenant, Fidelity National Financial $210.0 WRM America Holdings (Uniondale, L.I.) SB M&A $1,000,001 to $10 million. Among Seeks competitive sealed bids by 11 a.m. and Edward J. Minskoff Equities’ Jeffrey Inc./Fidelity National Financial the creditors with the largest unsecured on Aug. 18 for the replacement of a roll- Sussman represented the landlord in- Inc. flood business claims are Holbrook Plaza Group, up door, grille and masonry work at house. The asking rent was $130 per Tishman Speyer Properties $98.0 Allianz Real Estate Germany GmbH SB M&A owed $280,000; James Dillon, owed Central Repair Shop in Queens. To square foot. (Manhattan)/Friedrichstrasse 200 $29,255; and M&T Bank, owed make inquiries, contact Frank ● Aliph Inc. $70.0 J.P. Morgan Asset Management Inc. GCI $10,000. Mitchell at (212) 437-4542 or Orion Consultants signed a 10-year (Manhattan) [email protected]. For inquiries lease for 10,400 feet at 230 Park Ave. ● SMA Distributors Inc. Huaxia Dairy Farm Ltd. $45.0 Olympus Capital Holdings Asia (Manhattan), GCI after July 29, call (917) 237-5358. The firm doubled its space and will now Müller Milch Management AG 44 W. Jefryn Blvd., Deer Park, L.I. occupy half of the 22nd floor. Paul Filed for Chapter 7 bankruptcy ● School Construction Authority Amrich of CB Richard Ellis and SARcode Corp. $43.6 Alta Partners, Rho Capital Partners Inc. GCI (Manhattan), Sofinnova Ventures Inc., protection on July 14. The filing cites Seeks competitive sealed bids by 10:30 Jordan Berger of Monday Properties Clarus Ventures estimated liabilities of $500,001 to a.m. on Aug. 1 for a water storage tank represented the landlord, Monday $1 million and estimated assets of $0 to in Manhattan. Bid documents are Properties. The tenant was represented Selected deals announced for the week ended July 16 involving companies in metro New York. FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing $50,000. Among the creditors with the available at the window for the SCA in-house. The asking rent was in the shares of a company with the participation of a financial buyer. GCI: Growth capital investment largest unsecured claims are Al Berger, plans room, in room 1046 at 30-30 low $70s. represents new money invested in a company for a minority stake. SB M&A: Strategic buyer owed $150,000; Michael Weinstein, Thomson Ave., Long Island City, M&A represents a minority or majority acquisition of existing shares of a company without the owed $120,000; and Royal Supply Co., Queens. To make inquiries, contact ● Interactive Partners Ltd. signed a lease participation of a financial buyer. source: capitaliq owed $94,041.50. Stacia Edwards at (718) 752-5849 for 5,400 square feet at 104 Fifth Ave.

24 | Crain’s New York Business | July 25, 2011 CN014502 7/14/11 1:25 PM Page 1 20110725-NEWS--0026-NAT-CCI-CN_-- 7/22/2011 8:22 PM Page 1

NEIGHBORHOOD JOURNAL

Real Estate and Urban Policy at Historic moment near for Bed-Stuy? New York University reports. “Obviously, this is an area expe- riencing gentrification, and people ing with residents and handing out are being pushed out by higher Community rallies literature, and we’ve had several let- HOME TRUTHS: The prices,” said Sam Combs, a broker behind landmarks ter-writing and postcard cam- targeted 14-block area with Leiter Realty Group. “A his- paigns,” said Claudette Brady, who includes townhouses toric district will just make the quest; preservation dating back to the chairs the Bedford Corners Historic 1800s, some designed prices go even higher.” District Joint Block Association. by famed architects. comes with a price When Ms. Brady, a consultant, An architectural target formed her organization four years Sparked in part by changes in the BY IRVIN IBARGUEN ago,she sought guidance from grass- socioeconomic fabric, the momen- roots organizations in nearby Crown tum for seeking the historic-district early two decades after Heights,which had recently secured designation has picked up. it was first floated, a historic-district status for one area. “During the housing boom, proposal to designate a “They gave us a road map and Bedford-Stuyvesant was uniquely small slice of Bedford- told us about the Historic Districts targeted by developers [for new Stuyvesant in Brook- Council, which has been our men- projects] because surrounding Nlyn as a historic district finally ap- tor since then,” said Ms. Brady. neighborhoods were already pro- pears to be getting somewhere. The HDC was founded in 1971 tected,” said Democratic assembly- For some,the development comes expressly to promote historic pres- man Hakeem Jeffries. “The archi- not a moment too soon. ervation in the city through the ac- tectural integrity of Bed-Stuy is still

“Many people stop me on the tion of community-based groups. ibarguen irvin extremely vulnerable.” streets and ask, ‘What’s taking so Despite such concerns,some res- long?’” said Morgan Munsey,an ar- Out of the starting blocks signed by famed architects Montrose of African-Americans dropped to idents oppose the designation. chitectural historian who moved to Not long after Ms. Brady Morris and by firms such as McKim 59% from 75%, while the percent- “If people want to change some- the area four years ago and has been launched her group,local politicians Mead & White. Under the regula- age of whites climbed to 13% from thing about their house,they should actively involved in a campaign to began to take notice of its preserva- tions governing historic districts, a mere 2%. Median income rose be able to do it without asking some- win the designation. tion effort,which seeks historic-dis- the owners of all houses would be re- 18%, to $30,159, still far below the one for permission,” argued Albert Back in 1993, when the city’s trict status for a 14-block section of quired to get Landmarks’ approval city’s average. Dockery,who has lived in the neigh- Landmarks Preservation Commis- southern Bedford-Stuyvesant. before making exterior alterations. Meanwhile, both rents and the borhood for six years. “Sure, these sion initially gave Bedford-Stuyve- The proposed district—extend- In recent years, the area’s hand- median home price have soared— buildings look good, but we’re still sant the thumbs-down, it cited in- ing roughly from Monroe Street some housing stock and falling crime reflecting the changes in population, living in a free country, no?” sufficient community support. This south to Macon Street,and Bedford rate have brought a growing stream and accelerating those changes as Both sides still have plenty of time around, the results could be Avenue east to Tompkins Avenue— of new faces to Bedford-Stuyvesant. well.The cost of a home hit $232,403 time to be heard. The push for his- different, thanks in part to the mul- is home to more than 600 Renais- According to the latest census data, in 2008, up from $131,980 nine toric designation is now at the third tiyear campaign by several local sance, Greek Revival and Queen as of 2008,an astounding 87% of the years earlier. Since reaching that of eight long steps in the process. leaders and organizations. Anne townhouses dating as far back population had moved in within the peak, the median price has tailed off Supporters of the drive say historic “We’ve gone door-to-door speak- as the late 1800s. Some were de- previous nine years.The proportion to $161,667, the Furman Center for designation is two years off at best. Ⅲ

court date on July 26 to fight for an Radio’s bad boy Eateries crave an ‘A’ A. In a May inspection, Beacon qualified only for a B. “In the public’s view, you must Continued from Page 3 most radio guys follow is that he’s Continued from Page 1 the number of food-borne illnesses. have vermin or you’re serving bad have responded that the AM-FM this brilliant rascal. And then there on July 28, New Yorkers have come “By putting information about food if you have anything but an A,” strategy is one that they’re using in are others who find him reckless, ir- to rely on the prominently displayed inspection results on public display, the veteran restaurateur said. “The several markets. responsible and immature.” signs. And many say the grades in- we give diners the information they reality is that you can get points for Born Benjamin Homel (he re- Private-equity firm GTCR would fluence their decision whether to want while also encouraging restau- a lot of other things.” named himself in his early days as a be in the first camp. According to a dine at an establishment. rants to improve their food-prepa- According to its inspection re- shock jock), Mr. Michaels devel- person familiar with the situation, This week, Health Commission- ration practices,” Dr. Farley said last port, Beacon’s violations—none of oped a reputation as an aggressive the investor did its due diligence on er Dr. Thomas Farley will mark the July, when an unassuming deli in which involved vermin—included operator while at Jacor Communi- how Mr.Michaels managed Tribune system’s first year by releasing results Long Island City, Queens, became having a hot food item at the wrong cations in the 1990s. Co. and came away impressed with of the program. And if the agency’s the first business to earn an A. temperature, a worker who handled He also faced a sexual harass- the numbers. GTCR has a 74% previous findings are an indication, food with bare hands and improper ment suit that ended up the subject stake in Merlin Media, Mr. Mi- the majority of New York’s 24,000- Cleaner restaurants ventilation in the restroom. of a Barbara Walters broadcast. Mr. chaels 1% and Emmis the rest. plus restaurants will have earned an A. The strategy is having an impact. Mr. Malouf said he also faces at Michaels denied any wrongdoing, Neither Mr. Michaels nor Mer- According to a department study, “We are more vigilant and dili- least $2,000 in fines. and the case was settled out of court. lin Media would comment. during the first six months of the gent,” said Andrew Schnipper, co- “The letter-grade system has in- Under Mr. Michaels, Jacor was program, 57% of inspected restau- owner of Schnipper’s Quality creased the number of inspections sold to Clear Channel in 1998—the Good timing rants earned an A (0 to 13 violation Kitchen, a cafeteria-style American conducted at restaurants, which in height of the consolidation wave— New Yorker listeners will decide points), 30% a B (14 to 27 points) food joint in Times Square that was turn has increased the amount of for $4.4 billion. Named chief exec- how they like his latest endeavor and 12% a C (28 points or more). A recently awarded a top grade. fines levied,”said Andrew Rigie,ex- utive of the radio division, he when 101.9 FM introduces the new “Grade Pending” sign must be dis- To gain his stripes, Mr. Schnip- ecutive vice president of the city helped Clear Channel solidify its format. It recently replaced WRXP’s played while owners contest viola- per ramped up efforts to keep his chapter of the New York State position but also encouraged a bad- alt-rock programming with soft rock. tions in cases decided by a judge at an place immaculate and in compliance Restaurant Association. boy culture that contributed to his One thing that most industry administrative tribunal. with the health code. That meant a The Health Department collect- exit in 2002. observers agree Mr. Michaels has The grades are “something the checklist with items ranging from ed $32.8 million in fines in fiscal Some experts say that the good gotten right is his decision to public wants,” said Anthony Dell’ ensuring that refrigerators are 2010—before the grade system was far outweighs the bad in Mr. launch talk on FM rather than on Orto, owner of Manganaro’s Hero equipped with thermometers to implemented—and an estimated Michaels’ career. its usual AM location.Though pre- Boy. “You’d be antagonizing your checking that bathrooms always $44 million in fiscal 2011. “What he tried to do was main- vious attempts at FM talk in New own customers” to oppose the sys- have soap and paper towels. In response to industry com- tain the best programming while York have failed, experts think the tem, said Mr. Dell’Orto, whose Though forced to abide by the plaints, Mayor Michael Bloomberg satisfying the needs of Wall Street timing is better now,especially for a Hell’s Kitchen eatery received an A. rules, most owners view the system in January announced a new policy and investors,” said radio consult- format that targets men and women The city has hailed the grades as as unfair.They argue that it is a cash eliminating fines for restaurants ant Robert Unmacht. “And he be- in their 30s and 40s. a success by several measures. Offi- cow for a revenue-starved city—in scoring an A. lieves in news, which is something “The potential for talk on FM is cials point out that though just 27% addition to a flawed snapshot of Fighting fines has become a big a lot of radio people don’t anymore.” enormous,” said Michael Harrison, of restaurants earned an A on the their businesses. Even operators part of Kevin O’Donoghue’s law Critics,however,argue that there publisher of trade magazine Talk- first inspection,in a second round for who boast an A are skeptical about practice. A partner in Helbraun & are times when Mr. Michaels’ wild- ers. “It’s like opening up a store in a those with lower grades, a majority the grades’ effectiveness as an ap- Levey, he has represented several man approach disrupts business. mall that has traffic, versus one that had improved enough to earn an A. propriate measure. hundred restaurant owners at tri- “There are two camps,” said doesn’t.” Ⅲ The Health Department con- “It’s given people a false sense of bunals over the past year.Ⅲ Robert Feder, the Chicago media tends that the public shame of a B or security when they go to a place that writer who has covered Mr. LISTEN to a discussion at C grade compels restaurants to raise has an A,” Mr. Schnipper said. LISTEN to a discussion at Michaels for 30 years. “The one CrainsNewYork.com/podcasts their standards,which in turn reduces Meanwhile, Mr. Malouf has a CrainsNewYork.com/podcasts

26 | Crain’s New York Business | July 25, 2011 CN014526 7/21/11 4:37 PM Page 1

MEETING THE GROWTH CHALLENGE

Thank You To All Who and to the sponsors whose support was integral to the Participated success of this event.

CO-HOST: PRESENTING SPONSORS:

CITY SPONSORS: 20110725-NEWS--0028-NAT-CCI-CN_-- 7/22/2011 8:47 PM Page 1

Ironically, that is how part of on the roof, that Mr. Bluestone be- Rough ride for MTA New York’s transportation system Bronx tale gan renting in 2009. was built more than a century ago. “Affordability, that’s what it was,” August Belmont Jr. financed con- said Ms. Gore, who pays $782 a Continued from Page 1 gains would not offset the need for struction of a subway line up Broad- Continued from Page 1 month for a one-bedroom in the York’s global competitiveness. Now greater investment. way with revenue from soaring Up- more than 40% of the jobs created in Melrose building, which is the first they are saying that the departure of “The challenge, I think, is: How per West Side real estate values that the borough in the past decade were affordable LEED Platinum building Mr. Walder not only marks the loss are we going to do that in an envi- the system spurred. in the low-paying fields of retail and in the state. She said “the building is of a talented technocrat who slashed ronment where public resources are These days, the MTA appears to home health care,data from the Bu- run beautifully and the block is a bloated bureaucracy and had be- so limited?”he said.Federal funding be heading in the opposite direc- reau of Labor Statistics show. clean,” but she’d love a more upscale gun to find billions of dollars in sav- has already been cut by $1 billion, tion. While it makes money leasing But prospects are brighter than mix of local retail and restaurants. ings, but also stands as a measure of and there exists “no appetite” for tax retail space at Grand Central Ter- they have been for many years. It might be just a matter of time. just how far the city’s competitive- or fare increases, or service cuts, he minal and will rake in $1 billion as Fueled by its relative affordability, The borough’s new housing has al- ness has already slipped. said. part of a 99-year lease for the Hud- its proximity to Manhattan and its ready opened the door to other devel- “The fact that Hong Kong is Mr. Walder offered few answers, son rail yards west of Penn Station, transportation links,the Bronx is “the opment, including supermarkets and poaching New York’s talent to run other than to express hope that the the agency’s efforts to gin up rev- last bastion of opportunity in the a 1 million-square-foot mall. And its system speaks volumes as to what state would receive $3 billion in low- enue have fallen short elsewhere. city,”said Marlene Cintron,president Bronx officials believe that the time is is going on,” said Denise Richard- interest federal loans to pay for the Critics, for example, say its pro- of the Bronx Overall Economic De- ripe for the first full-service hotel. son, managing director of the Gen- East Side Access project, which posal earlier this year to sell its mid- velopment Corp. “The Bronx is the In the past year and a half, the eral Contractors Association of would bring the Long Island Rail town headquarters was misguided. place that is ripe for development.” city has solicited proposals for four New York. “Executives are going to Road to Grand Central Terminal. Last week,Robert Yaro,president of Housing has played a vital role in development sites in the Bronx. go to a place where they have sup- That would reduce the MTA’s cap- the Regional Plan Association, met the borough’s turnaround, attract- Multiple firms vied to develop port for the initiatives they want to ital plan deficit to $6 billion.But ob- with MTA executives to persuade ing people to a borough they once the Hub at 149th Street. Officials put in place. They’re not going to servers said his jump to MTR is in- them to develop the Madison Av- fled and setting the stage for a grad- chose Queens-based Triangle Eq- stay where their funding is getting dicative of a way forward. enue property instead, because its ual economic revitalization. uities, which will construct a $35 cut and where they’re constantly be- value is likely to increase when East The Koch administration kicked million, two-building project with ing bashed by the public.” Best of the best Side Access is completed. off the effort by pouring money into commercial and retail space and a Sadly, Mr. Walder’s replacement “If you’re into transit agencies, “Everybody in the room knew rehabbing run-down buildings and school. The company’s director of likely will operate under even more [MTR] is the Everest of them all,” that other transit agencies around constructing multifamily houses. development, Elysa Goldman, said inhospitable conditions. A key said Kevin Corbett, a vice president the world are doing joint-develop- Between 1986 and 1997,the number the area’s population density and the union contract expires in January, at transportation engineering firm ment projects,” Mr. Yaro said. of apartments in vacant buildings “significant amount of disposable just as the agency’s capital program AECOM. In areas where the MTA is shrank 78%, to 4,832—largely as the income, regardless of the fact that is scheduled to run out of money. The 31-year-old company, listed adding service,but where it does not result of city-financed gut rehabs,ac- it’s a low-income area” made the Whoever Gov. Andrew Cuomo on the Hong Kong exchange, pro- own the land, the state should levy a cording to unpublished city data cit- project attractive. A supermarket nominates will be forced to rely on vides transportation to 3.9 million tax to “recapture” the increase in ed by Alex Schwartz, an associate and a sit-down restaurant are the state’s popular chief executive to passengers daily.The company says it property values, Mr. Yaro said. professor at Milano The New School among the amenities planned. overcome opposition from subur- ended 2010 with a $1.56 billion prof- But these nettlesome problems, for Management and Urban Policy. ban Republican state senators, who it, before taxes and other payments. like the contract with union workers That investment continued Range of new businesses have called for even deeper cuts in As in New York, rider-generated that will have to be renewed early through subsequent administra- Separately, a new 35,000-square- MTA funding. revenue does not cover costs.But the next year,are no longer Mr.Walder’s tions, culminating in the last decade foot Western Beef is set to open on During last week’s Crain’s Future Hong Kong company has been able to solve. in construction of the first new co- Webster Avenue,as part of a city pro- of New York City conference, Mr. to successfully subsidize that side of “The next chairman will have to ops and condos in the Bronx in more gram to lure supermarkets to under- Walder outlined the MTA’s dilem- its business with profits it earns as a make those decisions,” Mr. Yaro than 30 years.Under Mayor Michael served areas. Atlantis Management ma. He noted that its efficiency landowner and developer. said. Ⅲ Bloomberg, the city has created or Group is slated to begin construc- preserved nearly 35,000 units of af- tion of an alternative-fuel station in fordable housing in the borough. Hunts Point by 2013.And the city is They don’t stay empty for long. offering $100 million to help revital- Mortgages elude self-employed “Some South Bronx census tracts ize the Hunts Point produce market. showed among the highest popula- “We are very active in luring pri- tion increases in the city,” said Ted vate investment to the Bronx right Continued from Page 3 expenses. While he typically earned Ms. Stevens ultimately obtained Weinstein, director of Bronx plan- now,”said a spokesman for the city’s high incomes, are simply paying between $40,000 and $65,000 annu- a 30-year, fixed-rate mortgage at ning at the city’s Department of Economic Development Corp. cash for property, rather than at- ally, he also was able to claim many 5.125% from Centex Mortgage, a Housing Preservation and Develop- “We’re working to attract new in- tempting to find financing. more deductions than his salaried subsidiary of homebuilder Centex; ment.“You look at those tracts and in dustrial facilities as well as retaining One major factor driving the counterparts. For instance, he says, she closed in March 2009. Even so, almost every case, there’s been new existing businesses, and activating heightened requirements from taking a client out for drinks or to a she was able to obtain only a “condi- housing built through our programs.” city-owned sites with dense job- banks stems from independent con- Broadway show was a legitimate tional” mortgage that didn’t become Morrisania-Melrose, for exam- creating uses, supermarkets and tractors’ fluctuations in cash flow. business expense, but such deduc- final until five days before she closed ple, gained 2,815 housing units and community facilities.” “At any point, you could go tions deflated his taxable income. on the house, preventing her from 8,068 people. Melrose South-Mott Ms.Cintron,of the Bronx Over- through a period without any in- Many self-employed people find locking in a rate early. Haven North added 2,064 occupied all Economic Development Corp., come,”said Kristie Arslan,executive themselves in the same position, ac- units and 6,019 people. Les Blue- notes that a major food company is director of the National Association cording to Jeff Appel, sales manag- Nonstop paperwork stone, principal of Blue Sea Devel- looking at a 424,000-square-foot for the Self-Employed, which has er at MetLife’s home loans division. Meanwhile, in the six-month opment, built roughly 500 of the site in Hunts Point, an electric car 650 members in New York state. “The only measure we have for period leading up to the closing, the new units in Melrose-Morrisania. company is mulling two possible lo- The result, she says, is that her income is what is filed,” Mr. Appel lender asked for three years’worth of “When we started in Melrose in cations in the borough and major organization’s members are said. “In certain instances, tax returns,copies of all invoices that 2000,2001,it looked like Dresden,” hotel chains are eyeing the Yankee often subject to more scruti- people can be very aggressive she sent to clients, monthly bank he said. “You could stand on one Stadium area. ny from banks than salaried 50% in the way they handle their statements and various deposit slips, corner and easily see the other side “Computer chips are being gener- borrowers are, even if they MINIMUM taxable income.” according to Ms. Stevens. of the neighborhood without a ated right here in the Bronx,”she said, have comparable credit his- cash portion of Kathleen Stevens, 56, a “They would look at every deposit referring to a recent expansion by home-purchase building in your way.Now you go up tories. price needed self-employed accountant I made and asked for proof of the there, and it’s just wall-to-wall G.A.L.Manufacturing Corp.,an 84- for the “no-doc” who works mainly with source of this money,” she recalled. buildings. The change is dramatic.” year-old elevator-component com- Tighter requirements mortgages that clients in Manhattan, didn’t In the past, some small propri- Mr. Bluestone attributes the pany with a 100,000-square-foot fa- are slowly Bob Donovan, a senior returning to the anticipate any problems ob- etors with good credit scores by- resurgence in part to price pressure cility in the shadows of the ballpark. vice president in the home NYC market taining a mortgage for a passed questions about their tax re- from the south, extending into Much work still needs to be done, mortgage division at Bank $160,000 three-bedroom turns by obtaining “no-doc” Harlem and driving people into the said Wilhelm Ronda, director of of America, acknowledged that townhouse in North Carolina, mortgages, notes Michael D’Alon- Bronx. The borough’s affordability planning and development in the of- banks require more paperwork from where she plans to eventually retire. zo, president of the National Asso- has helped it grow. The Bronx also fice of the Bronx borough president, self-employed borrowers, but said She was taking in $3,400 a week ciation of Mortgage Brokers, based benefited from reductions in crime but people and businesses are now that BofA does so to assure itself when she applied and, she says, her in Lanham, Md. These mortgages and an influx of immigrants—in- making the decision to call the bor- that an applicants’ income is sus- credit score exceeded 700. typically came with a slightly high- cluding large numbers of West ough home rather than leave it. tainable. But Ms. Stevens’ attempts to ob- er interest rate but didn’t require Africans, but also Dominicans “The hemorrhage stopped—the “It’s only responsible that we ver- tain financing hit a snag:For the past proof of income. priced out of Washington Heights. hemorrhage of people and institu- ify somebody’s ability to repay,” he seven years, she has worked as an in- No-doc mortgages all but disap- Lynn Gore, 60, an administra- tions and amenities,” he said. “The said. “As opposed to a W-2 [form] dependent contractor, a fact that peared from the market in 2008.But tive assistant who grew up in Man- Bronx has stabilized, giving people and two pay stubs,we may be asking didn’t go over well with bankers. some brokers say they’re slowing hattan, never thought she’d live in assurances that, ‘Wait a minute; we a sole proprietor for two years of tax “You could hear the change in their starting to return—though only for the Bronx. But when her home bor- can live and do business here.’ ” Ⅲ returns, including Schedule C’s.” attitude and voice once I said I was buyers who can put down a minimum ough became too expensive, she Mr.White says that one reason for self-employed,” she said.“It was like of 50% of the purchase price and moved into The Eltona—a 63-unit LISTEN to a discussion at his trouble centered on his business I said, ‘I’m retired; I’ve no money.’ ” have credit scores of at least 740. Ⅲ green building, with wind turbines CrainsNewYork.com/podcasts

28 | Crain’s New York Business | July 25, 2011 20110725-NEWS--0029-NAT-CCI-CN_-- 7/22/2011 2:04 PM Page 1

67% of Americans plan to spend $250 or less this back-to-school season, vs. 62% last year BUSINESS LIVES Source: NPD Group HOT JOBS EXECUTIVE INBOX

DIRECTOR OF MARKETING Anne Fisher AGENCY NYC Department of Small Business Services Rx for owners JOB DESCRIPTION Develop, manage marketing efforts for NYC who neglect Business Solutions, Workforce1 their finances MOST IMPORTANT TASK Lead team of marketing managers in IT’S LIKE THE OLD SAW about the developing relationships with a shoemaker’s children going diverse customer base barefoot: Entrepreneurs who can tell you every detail of their firms’ CREDENTIALS NEEDED Master’s balance sheets often have only a degree plus two years’ experience hazy idea of their own finances. preferred “Part of my role is to provide SALARY $70,000 to $75,000 clarity, so that they can focus on RECRUITER Internal making their business great,” DOWNSIDE Must also lead public said Jonathan Satovsky of relations efforts Satovsky Asset Management. Often, that means spurring UPSIDE Help SBS improve quality business owners to address the and consistency of its brands basics, such as maintaining SBS serves small businesses, job adequate life and disability seekers and commercial districts. insurance. He also advises that NYC Business Solutions helps they set up Excel spreadsheets of firms start, operate and expand their personal income and here; Workforce1 attracts and expenses, to get a real-time view. prepares job candidates and con- Sadly, he said, many owners nects them with job opportunities. are so pressed for time that they —IRVIN IBARGUEN wait for a crisis to start planning. “An entrepreneur came to me after his business was already in an unstoppable downward spiral. EXECUTIVE MOVES GOOD POSITION: He had set aside no personal Ryan McCarthy’s savings to tide him over,” Mr. New York-Presbyterian background couldn’t Hospital: Dr. Steven J. be more different than Satovsky said. “We had to come Corwin, 55, was that of the young up with a practical way forward, women she coaches. appointed chief which meant selling his home executive, effective and all his assets and starting Sept. 6. He is over from scratch.” currently executive GOTHAM GIGS Another tough issue that Mr. vice president and Satovsky sometimes faces with chief operating officer. Dr. Robert E. Kelly, 55, was appointed entrepreneur clients: Can they president, effective Sept. 6. He is afford to retire? He recently currently group senior vice president. counseled a high-income couple The RBA Group: Neil D. Bernstein, 66, with $2 million invested that to was promoted to president and chief Proud Crew Chief do so, they needed to cut their executive. He was previously chief buck ennis annual spending to $60,000. operating officer. Rottenberg Lipman Rich: Richard E. “The rule of thumb is that you Rosberger, 50, joined as a member of the ‘I had no In preparing her rowing team for competitions, Ryan McCarthy spend just 3% of your capital law firm. He was previously of counsel must deal with more than its speed and performance. Ms. McCarthy, each year, so you don’t risk at Milbank Tweed Hadley & McCloy. outliving your money,” Mr. Roche: Dr. James idea how a program assistant with the nonprofit Row New York, coaches high Satovsky said. Cassidy, 52, joined the school girls from disadvantaged Queens neighborhoods. Some of Entrepreneurs’ tendency to pharmaceutical much I put all their financial eggs in one company as head of them lack basic math and reading skills, some haven’t yet learned to translational medicine would love swim and some don’t get enough to eat. ¶ The contrast with Ms. basket—their business—goes in the oncology McCarthy’s background is stark.The 23-year-old rowing champion against the tenet of diversifying discovery and working one’s holdings as much as translational area in graduated from Yale last year with a bachelor’s degree in religious possible. But Mr. Satovsky pharma research and early development. with the studies. She attended high school at Phillips Exeter Academy. ¶ Not understands why it happens. He was formerly at the University of “You have to believe that Glasgow, where he was professor of surprisingly, the Jersey City native is pleased with her unlikely band oncology, head of the department of girls’ of rowers. ¶ “When I look at them out on the water, they are just investing in making your own cancer research and head of the division nine girls in a boat who I am training to go fast because we have a business thrive is the best of cancer sciences and molecular investment you can make,” he pathology. race coming up,” Ms. McCarthy said. ¶ She never planned to coach said. “If you don’t believe that, Cooking Light: Michelle Lamison, 42, rowing but responded to a listing for the job after an unfulfilling buy Treasury bonds instead.” joined as associate publisher of the Time Inc. epicurean brand. She previously stint as a personal trainer. “I had no idea how much I would love DO YOU WATCH your own finances as served as executive director, integrated working with the girls,” she said. closely as your company’s? Tell us at See EXECUTIVE MOVES on Page 30 —miriam kreinin souccar www.crainsnewyork.com/execinbox.

July 25, 2011 | Crain’s New York Business | 29 20110725-NEWS--0030-NAT-CCI-CN_-- 7/22/2011 5:03 PM Page 1

RÉSUMÉ REVIEW Die-hard fan’s front-row seat Is your job search all it could be? We ask the experts. First black woman portunities for women. Second is that the league currently comprises. working for premier companies and I’ll be focused on boosting atten- NAME JEANNE FINESTONE brands, and the WNBA is the pre- dance and doing what I can to in- sports chief brings SUMMARY mier women’s basketball league, I crease sponsorships. marketing to WNBA would argue,in the world.Third,it’s Communications, marketing and fundraising an organization that values giving The WNBA has struggled financially over executive back to the community. the years. How will you make it PROFESSIONAL EXPERIENCE BY JERMAINE TAYLOR profitable?  Ananta Media, president, 2002-present Sports is very different terrain for you. The good news is that all our key Provide solutions that maximize the value of clients’ intellectual property; ith a résumé that lists What do you bring to the table? metrics are heading in the right di- clients include CDC Development Solutions and Thirteen/WNET more than 30 years in What I bring to this is a fan’s perspec- rection. For the past four years, our  McGraw-Hill Children’s Publishing, vice president, marketing and marketing and brand tive, so while I have not played the attendance has been steadily increas- communications, 2001-2002 management, Laurel game,I have been a fan of basketball ing; sponsorships and our renewal Led all consumer and b-to-b marketing initiatives; exceeded RichieW switched up her game when for many, many years. The league is rate of season-ticket holders [are direct/online sales goals by 25% she became president of the 15- celebrating its 15th season, and, at both] at an all-time high. My work  American Greetings, director, business development, 2000 year-old WNBA in May. Original- this point, I think what’s required is will be to build on that foundation. Managed integration following the acquisition of McClanahan Book Co. ly from Shaker Heights, Ohio, Ms. the marketing of the league. Given Richie developed award-winning my professional background in mar- How can you bring more attention to EDUCATION campaigns for keting and my passion for basket- women’s athletics?  Harvard University, humanitarian studies initiative, 2011 clients such as ball, I think my skills and interests One of the things I’m very interest-  Stanford University, professional publishing program, 1997 American are relevant to the league as it ap- ed in focusing on is creating oppor-  George Washington University, undergraduate Express and proaches its next 15 years. tunities for the public at large and Résumé appears in condensed form. MOVERS & Procter & our fans to get to know the players. SHAKERS Gamble while What’s your first priority? They are terrific athletes that play a EXPERT ADVICE at top adver- My first initiative is very aggressive and competitive Jeanne’s résumé has excellent content, but the formatting is dated and Laurel tising agen- to spend time get- game of basketball, and they’re as lacks visual appeal. A graphic makeover will increase a prospective cies, includ- ting to know our impressive off the court as they employer’s interest and give Jeanne’s résumé a more sophisticated look to Richie ing Ogilvy & teams,our players are on the court. match her significant experience. She should promote herself as an expert Mather. She and our spon- and focus on her leadership abilities and achievements. Key skills would most recently sors, and to use How do you feel about being the first add more value within the context of the job descriptions, rather than served as senior vice president and that perspective to African-American woman to lead a listed as stand-alone buzzwords. Jeanne should also use her LinkedIn major sports league? chief marketing officer at Girl help strength- profile to reach out to previous business contacts and gain testimonials Scouts of the USA. en the 12 I feel very honored. I did not from people who know her work and can offer insight. teams know that when I accepted — , vice president, LLoyd Staffing What made going to the WNBA exciting the job, so it was a sur- nancy schuman for you? prise,but it’s a role I em- To contact this candidate or to be featured in “Résumé Review,” e-mail us I think it combines things that are brace. And just as the at [email protected]. really important to me and things women of the WNBA that I’m passionate about. First, it are role models, I hope promotes positive images and op- to be a role model. Ⅲ nba photos nba

Media. She was previously Oxygen’s vice publishing company as label manager of joined the financial advisory and Wormser Kiely Galef & EXECUTIVE MOVES president, digital. Krian Music Group, Royalty Network’s investment banking services provider as Jacobs: Lester D. KPMG: David Neuenhaus, 41, has joined new label partner. He was formerly a managing director. He was previously Steinman,61,was Continued from Page 29 the audit, tax and advisory firm as tax director of marketing, promotions and a managing director at CRT Capital elected partner at the marketing and business insights, for principal, mergers and acquisitions artist development for Executive Music Group. law firm. He had Time Inc.’s Real Simple. services group. He was previously a Group and owner of Greene Street Tim Meyer, 45, joined as a managing previously served as The LiRo Group: Richard Schmalz,63, principal for World Tax Service U.S. Promo. director. He was formerly a managing counsel to the firm. joined the engineering and construction The Fleischman Law Lawson Higgins, 39, was promoted to director at CRT Capital Group. While serving as management firm as vice president. He Firm: Keith M. senior creative, A&R. He was formerly Debevoise & Plimpton: Michael W. Blair, counsel, he was also was formerly vice president and New Fleischman,53, senior administrator, creative. 55, has been appointed the law firm’s the director of the Edwin G. Michaelian York civil manager for Parsons launched the firm and Anvil Knitwear Inc.: Heather Stefani, 51, presiding partner. He was previously Municipal Law Resource Center of Pace Brinckerhoff Inc. will serve as principal joined the sportswear company as partner and chair of the firm’s corporate University. NBC Universal: Jodi and managing partner. executive vice president of marketing. department. Centerview Partners: Samuel Greene, 40, Kahn,47,was He was most recently a She previously served as a small business Arent Fox: G. Michael Bellinger,59, joined the investment banking advisory promoted to the director at Grant & consultant for the Ledgemoor Group. joined the law firm as a partner. He was firm as partner and is a leader of the new newly created position Eisenhofer. Fashion Institute of Technology: Giacomo formerly a partner at Dorsey & restructuring advisory practice. He had of president of Hung G.Ta, 38, joined as a partner. He “Jack” Oliva, 61, joined as vice president Whitney. been a managing director at Miller iVillage, a digital was previously a senior counsel at Grant for academic affairs. He was previously Cozen O’Connor: Thomas Langer,64, Buckfire & Co. brand for women. She & Eisenhofer. dean and professor of music for the joined the law firm as a member. He was Marc Puntus, 44, joined as partner and is was previously June H. Park, 32, joined as an associate. Hixson-Lied College of Fine and previously an equity partner at Cohen a leader of the new restructuring executive vice She was most recently an associate at Performing Arts at the University of Pontani Lieberman & Pavane. advisory practice. He had been a president of iVillage. Milbank Tweed Hadley & McCloy. Nebraska-Lincoln. Lance Lieberman, 62, joined as a managing director at Miller Buckfire & Jennifer Kavanagh, 35, was promoted to The Royalty Network: Frank Blasucci,42, Wolff & Samson: A. Ross Pearlson, 49, member. He was previously a founding Co. senior vice president, digital, for Oxygen joined the independent music joined as a member of the law firm and partner at Cohen Pontani Lieberman & Schiff Hardin: James E. Hanft, 43, joined co-chair of its litigation group. He was Pavane. the law firm as counsel. He was formerly a partner at Sills Cummis & Martin Pavane, 60, joined as a member. previously counsel at Kane Kessler. Gross. He was previously a managing partner Benenson Capital Partners: David P. CORPORATE LADDER TD Bank: Wade C. at Cohen Pontani Lieberman & Thomas, 52, joined as chief accounting Jacobson, 51, joined as Pavane. officer for the real estate investment and HSBC’S NEW REGIONAL HEAD director in corporate Thomas Pontani, 66, joined as a member. development company. He was formerly credit management. He He was previously a founding partner at a partner at Deloitte. DEBORAH HAZELL, 47, was named regional head of HSBC was most recently Cohen Pontani Lieberman & Pavane. Paul Hastings Janofsky & Walker: Global Asset Management Inc., North America. She will managing director for Edward Weisz, 47, joined as a member. Michael Michetti, 51, joined the law firm oversee all aspects of HSBC’s asset management TD Securities. He was previously an equity partner at as partner in the leveraged finance operations in the U.S., Canada and Bermuda, and will be Edward R. Behnen, 29, Cohen Pontani Lieberman & Pavane. practice. He was previously a leveraged Schnader Harrison Segal & Lewis: responsible for increasing HSBC’s scale and presence in joined as vice president finance partner at Cahill Gordon & and relationship manager in asset-based Catherine M. McGrath, 55, joined as a Reindel. these markets. HSBC has broad global presence, with approximately $458 lending. He was previously relationship partner in the law firm’s litigation —jonas altman-kurosaki billion in worldwide assets under management as of March 2011. manager and underwriter at Israel services department. She was previously Ms. Hazell is no stranger to leading a money management firm: She Discount Bank of New York. a partner at Foley & Lardner. EXECUTIVE PROMOTIONS Brand New School: Historic Districts Council: previously served as president and chief executive at Fischer Francis Trees & Justin Fines, 35, Françoise The fastest way to get an announcement into Watts. Ms. Hazell received her B.A. in economics from New York University. joined the design production studio as Bollack, 66, was elected president of the Crain’s is to submit online. Fill out the form associate creative director. He was organization. She is as an adjunct —JONAS ALTMAN-KUROSAKI at www.crainsnewyork.com/section/ previously a principal at DEMO. associate professor of historic executive_moves. The Executive Moves column Duff & Phelps Corp.: Jim Hesburgh, 53, preservation at Columbia University. is also available online.

30 | Crain’s New York Business | July 25, 2011 20110725-NEWS--0031-NAT-CCI-CN_-- 7/22/2011 2:06 PM Page 1 chemex / INSATIABLE CRITIC individuals with developmental flickr.com Gael Greene disabilities; and the YMCA—from 5:30 THE p.m. to 7:30 p.m. The event will be held at the Immaculate Conception Center, 7200 Douglaston Parkway, Douglaston, WEEK Queens. The cost to attend is $20 for members and $25 for nonmembers with advance registration, and $30 for Filling freebies: members and $35 for nonmembers at AHEAD the door. To get more information and to register, visit www.queenschamber.org or call (718) 898-8500. no beefs here! AUG. 1-7 glassman ronald CULTURAL EVENTS CONFERENCES AND TUESDAY, AUGUST 2 WHAT HE’S BLT Steak’s generosity SEMINARS SPECIAL OLYMPICS NEW Pick WEDNESDAY, AUGUST 3 YORK hosts its third annual of the READING bowls over diners; NEW YORK PUBLIC LIBRARY invites you to Junior Committee week a résumé-writing workshop for job Summer Social. The Junior THE BUILDING TRADES shoo, calorie-counters seekers. The free lecture will take place Committee invites guests to an EMPLOYERS’ ASSOCIATION at the City Island Library, 320 City evening of cocktails, music, dancing and a represents contractors who use wo of our food-loving Island Ave., Bronx, from 10 a.m. to silent auction to benefit Special Olympics union labor. The recent book pals have been alternat- noon. Advance registration is suggested. New York. The benefit will take place at selections of its president, Louis ing between serious diet- To get more information and to register, Hudson Terrace, 621 W. 46th St., from visit www.nypl.org. 7:30 p.m. to 10:30 p.m.Tickets are $75 in Coletti, have been influenced by ing and serious econo- tense contract negotiations, all

buck ennis advance and $100 at the door. To get mizing. Their favorite THEREBY HANGS A MEAL: Hanger steak THURSDAY, AUGUST 4 more information and to buy tickets, but one of which ended in June. Tgambit when not counting calories: Join Roy Fenichel Esq. for MINIMIZE visit www.specialolympicsny.org or call “As you go through difficult heading to BLT Steak to wallow in TAXES, MAXIMIZE WEALTH,a free (212) 661-5217, ext. 220. times, you want to read about all the house’s bountiful giveaways, BLT STEAK accredited continuing legal education leadership and change,” Mr. 106 E. 57th St. class. The CLE is designed for lawyers SATURDAY, AUGUST 6 share a salad and divide a hanger Coletti said. He reread Grace steak,sipping a glass each of red wine. (212) 752-7470 who want to advise clients on the Join the City Parks Foundation for www.bltsteak.com benefits of different tax strategies when SummerStage’s SHELEBRATION!, an Palladino’s Skilled Hands, Strong “I’m filled up just eating the free- Spirits: A Century of Building bies and sharing the Caesar,” Nina selling real estate. The program will take evening celebrating the wonder and place at Bank of America, 50 Rockefeller enchantment of author and Grammy- Trades History to reacquaint confides. “But they sort of know us Plaza, fifth floor, from 8:30 a.m. to noon. winning songwriter Shel Silverstein. himself with the unions’ past, and now, and we feel we have to at least CUISINE Steakhouse To register, call (646) 695-7925 or e-mail Musicians and celebrity guests will to better understand labor’s get a steak.” [email protected]. perform Mr. Silverstein’s beloved songs I hadn’t been to BLT Steak since PRICE RANGE $26-$92 and poetry, including works from his perspective and thought process. just after it opened in 2004, when, SERVING Lunch Mon.-Fri., dinner NETWORKING RECEPTIONS forthcoming poetry collection, Mr. Coletti also read Onward: like any other raging gourmand, I seven days WEDNESDAY, AUGUST 3 Everything On It. This is a free event How Starbucks Fought for Its Life succumbed to the excess of Laurent The Roman Catholic Diocese of being held at 7 p.m. at the Mainstage in Without Losing Its Soul, by the RESERVATIONS Recommended CORPORATE GIVING Tourondel’s unparalleled amuses. Brooklyn will hold a Rumsey Playfield, Central Park. For coffee chain’s founder, Howard networking event—with representatives Actually, so much more: They were NOISE LEVEL Not bad at all information, visit www.summerstage.org, Schultz, for insight into how from the diocese; AABR, a College or call (212) 360-2777. people successfully lead an amusement park on the table. Point, Queens-based agency serving —suzanne panara The luscious chicken-liver mousse, I can’t wait to return. through challenging periods. I will definitely go back. a wooden board with prosciutto, To view Crain’s classified events listings, go to www.crainsnewyork.com/events —THERESA AGOVINO sausage and speck, and popovers as I’ll let them simmer awhile. 6x6subadcompblack.ai 1 1/18/11 3:25 PM big as a toddler’s head.By the time we NO HATS Never again. looked up from the truffle gnocchi to nibble a battered onion ring or two, our bone-in double sirloin for two ating than the eating. would arrive,raging rare,almost be- A brace of Caesars are delivered, side the point, impossible to finish. mostly interior crunch, whole baby Now, many dozens of New York leaves, and long cheese-embedded Join the steakhouses later, we’re back with crisps. I like the fact that the Par- Nina and Carl to prove we can be mesan is grated the old-fashioned world-class cheapskates,too.We slip way, not into hairy fuzz, though I into an Ultrasuede-padded booth wouldn’t mind more than an illusion Crain’s with woven mats on polished ebony, of anchovy. facing the blackboard specials of the For $26,my guy and I could share day—not exactly economy-class lemon-rosemary chicken, but we’re Community seats—and sip New York tap while here for cow. Eyes linger only briefly waiting for the giveaway goodies. on our favorite rib-eye at $47,the 12- What a teeny little dollhouse ounce filet for $43, tonight’s special Subscribe to Crain’s New York Business dish. I remember the chicken-liver New York strip with marrow butter mousse bowl as larger. Memory is at $50, and the $84 porterhouse for New York’s must-read resource for business leaders like that, I guess. It’s a little too salty two. Each couple will be sharing a under a salty gel, but I love it, and $29, 10-ounce hanger steak. memory becomes a smear on grilled I ask for ours whole, not sliced, country bread. The waiter, in his so we can divide it ourselves. It’s One year subscription $29.95 striped navy apron, is kind of a yo- meaty and chewy, as rare as we Weekly news analysis of New York’s most yo—here and gone, here again, and hoped, a cut we like. Alongside the important business issues gone. Maybe they weren’t expecting velvety Parmesan gnocchi come Print Edition such a big crowd on a sizzling sum- herb-crusted Provençal tomatoes, a In-depth reports and trend stories mer night. We ask a manager for a gift of the house. Crain’s annual Book of Lists chicken-liver-mousse encore. No Desserts are just $10,I point out. problem. Here it is. Still a bargain,given our town’s ram- “Where are the popovers?” Nina pant dessert inflation. The calorie- asks the waiter on a rebound. counters let me order lemon-blue- One year subscription $24.95 And then suddenly, I’ve been berry meringue pie.Then the house Anytime access to comprehensive and late recognized.A manager brings melt- adds a peanut-butter confection in a breaking business news ed cheese canapés and salumi,which cloak of melted chocolate, and of Digital Edition the house offers apparently on a course, we all have a taste. Crain’s Daily Alert delivered to your whim for regulars and VIPs. I pass this along to you as a find. inbox each business day The inflated Yorkshire pudding- If this column draws legions of pen- FREE unlimited access to Crain’s archives like balloons arrive.Some people are ny-pinchers, I can’t guarantee what wild about popovers. I like the first defense BLT Steak might launch. three bites, and then I can live with- Subscribe today Go to www.crainsnewyork.com/subscribe out them till next time. It’s like mo- Copyright © 2011 by Gael Greene. lecular cuisine, more about the cre- Syndicated by www.insatiable-critic.com.

July 25, 2011 | Crain’s New York Business | 31 Project1:fp template.qxd 7/1/11 5:34 PM Page 1

There’s good news and there’s good news.

To see more of what we’re up to, visit MobilizeEverything.com.

©2011 AT&T Intellectual Property. Service provided by AT&T Mobility. All rights reserved. AT&T and the AT&T logo are trademarks of AT&T Intellectual Property. All other marks contained herein are the property of their respective owners.