nb24p01.qxp 6/8/2007 7:22 PM Page 1

TOP STORIES REPORT Dubai owners SMALL revamp Essex BUSINESS House, hope to join Brooklyn B&B’s cash ranks of the elite in on tourist boom PAGE 2 ® PAGE 19 ESPN is no longer the doormat in war VOL. XXIII, NO. 24 WWW.NEWYORKBUSINESS.COM JUNE 11-17, 2007 PRICE: $3.00 PAGE 3 Tavern on the “ The Richmond Global Green branches order desk features the Columbia latest in ‘state of the art’ out with sauces computer equipment, for sale online staffed by experienced, , NEW YORK, P. 6 professional traders.” fireworks From Scranton to — Richmond Global sales pitch Avignon, Met’s new set to begin boss wins friends ALAIR TOWNSEND, P. 13 Foes mobilize as are stirring up rumors that chemi- Brothers insist on cal and biological weapons could university prepares be studied. staying close, The rancor is symptomatic of search city for FUTURES SHOCK to submit expansion the culture clash that has charac- plan for approval terized Columbia University’s re- adjacent condos lations with its neighbors since the LIVING LARGE, PAGE 36 1960s. Critics paint the politically BY ANNE MICHAUD connected university as Goliath, The swindle and it’s true that the current ap- BUSINESS LIVES after a three-year drumroll, proval process is stacked in Co- PARENTAL BURDEN Columbia University’s plan to de- lumbia’s favor. But the university’s velop 17 acres in West Harlem as a foes will not yield without a fight. Immigrants’ kids on Staten Island satellite campus will go be- “The moment has ar- balance careers, fore city officials next week. rived,” says caretaking How a gang of wannabe traders Now the fight begins. 70% Borough President Scott PAGE 35 Many in the neighbor- PERCENTAGE Stringer. “Columbia’s ex- of land that duped investors; fraud in foreign- hood are worried about the Columbia has pansion will greatly benefit displacement of 160 low- amassed in the city of New York.At the exchange futures on the rise income families and some project area same time, we have an ob- artists and businesses, as ligation to protect the sur- BY AARON ELSTEIN well as the 25-story height of pro- rounding community, and that’s posed buildings and the type of re- what this process is all about.” growing up on staten island, Joseph Pappalardo would search Columbia might conduct. On June 18, the Department of look across the bay at the gleaming towers of Manhattan’s While the university says there is City Planning is scheduled to pub- no basis for such talk, opponents See COLUMBIA on Page 8 AT DEADLINE financial district and think that one day he would make it on Wall Street. NEARLY 100 BUSINESS “I was seeing people who had a lot of success in the mar- LEADERS WILL JOIN Chief kets on TV,” says Mr. Pappalardo, 29. “It made me want to Judge Judith Kaye Tuesday at be a part of it.” He got his start four years ago, landing a job NY economy booms, a breakfast rally designed to at a brokerage firm called Richmond Global Ltd., where win pay raises for judges. he sold futures contracts tied to foreign exchange rates. Scheduled speakers include defying U.S. trend Viacom general counsel “Richmond Global takes advantage of the market regard- Michael Fricklas, Partnership less of what direction it is going,” the firm boasted. Brokers for President told clients, many of whom were See FOREIGN on Page 10 Self-employed push Kathryn Wylde, and Zagat Survey publisher Tim Zagat. CRY FOR HELP Beseiged regulator needs more funding P. 10 city to new heights; The business leaders believe widespread job gains that low judicial pay negatively affects commercial litigation in the state. State BY TOM FREDRICKSON legislators have refused to increase judges’ pay, which new york city’s economy is turn- hasn’t been raised in a decade, ing in a star performance in 2007. unless they, too, get a raise. The city should add about 30,000 new jobs in the first six THE TIFFANY & CO. FOUNDATION, months, Crain’s New York Business IN ITS LARGEST GIFT ever, is estimates, and is on track to gain giving $2 million to the about 50,000 for the full year. Museum of Arts & Design to New York’s economy is defying See AT DEADLINE on Page 2 the national economic slowdown.

getty images Nearly all sectors—from Wall larry ford Street to construction to retail— KIM FRACZEK, a jewelry maker, works for

24 are booming. herself in a loft residence in Bushwick.

5 COMINGNEXT WEEK Not only have payroll gains New York emerges as the center of made up for virtually all of the jobs action in GLOBAL HEALTH ISSUES. A look lost in the last recession,but the ad- above where it was in 2000, before ELECTRONIC EDITION at the money, the institutions and the dition in recent years of hundreds the last recession and the World idealists who flock to the field. of thousands of self-employed Trade Center attack.

NEWSPAPER workers has lifted the economy See NEW YORK CITY on Page 8 71486 01068 0 CNYB 06-11-07 A 2 6/8/2007 6:32 PM Page 1

AT DEADLINE

Continued from Page 1 SPACE NK, AN UPSCALE BEAUTY construct a new center for CHAIN BASED IN LONDON,is contemporary jewelry in the looking for five more sites in the museum’s future new home at city as it opens its first U.S. store 2 .The Tiffany at 99 Greene St., between Jewelry Gallery will be the Prince and Spring streets, on country’s first resource center for Thursday.The chain will target the study of jewelry styles, customers who frequent C.O. materials, techniques and history. Bigelow, Kiehl’s and Bath & The museum is scheduled to Body Works. open in mid-2008. PARADE SIGNED A DEAL WITH THE WORLD TRADE CENTER THE MCCLATCHY CO. that will MEMORIAL FOUNDATION has increase its weekly circulation by hired Joan Gerner as executive 500,000 copies. Starting July 1, vice president for design, all 31 McClatchy dailies, one construction and capital weekly and one twice-weekly NICHE FILLER: planning. Ms. Gerner, a former paper will carry the Sunday ”We believe executive at Bovis Lend Lease, newspaper supplement owned we’re moving into a space is trained as an architect, by Advance Publications.The that’s vacant construction manager and boost comes at a welcome time right now,” says historic preservationist. She will for the magazine, whose circul- GM Scott manage the design and ation has dropped 10% in the Dawson. construction of the memorial, past two years to 32 million museum and museum pavilion, because of newspaper declines. working with the Port

Authority of New York & New NEW YORK PROFESSORS WANT levinekarjean Jersey, which is overseeing TIAA-CREF to screen the firms in construction on behalf of the which it invests based on their foundation. records on issues like civil and labor rights, and then put more TECH FIRM MEETMOI HAS RAISED pressure on them to improve ITS FIRST ROUND OF Fixing up the House funding— their performance on such issues. $1.5 million from Acadia The movement was started with Woods Partners, an investment a group of City University of firm that focuses on startups. New York professors and has Lagging Essex House looks to join its elite rivals MeetMoi, founded by Silicon been taken up by New York State Alley veteran Andrew United Teachers, which has BY LISA FICKENSCHER Weinreich, allows registered 100,000 members who users to locate and meet with participate in TIAA-CREF the ’s exorbitant renovation has dominated headlines, but it isn’t the only potential dates by text plans.The firm says it offers its messaging from their mobile clients a choice of screened New York grande dame planning to unveil a new look this fall. devices. funds. I The Jumeirah Essex House will step out after completing the city’s second-most expensive hotel makeover. CORRECTIONS The septuagenarian on South, which has languished for more than a decade, is Alain Ducasse’s new restaurant will be called Adour. The name was misstated in a June 4 “New York, New York” item. hoping to stage a dramatic comeback.The strategy is to break through the barrier that Connecticut congressional candidate Jim Himes was an investment banker at Goldman separates the Essex House from the city’s most elite hotels and to surpass its closest four-star Sachs. His former employer was misidentified in “The Insider” in the June 4 issue. competition, and New York Palace hotels, on its way to five-star status. Tom Corson is the general manager of RCA Music Group. His name was misstated in “Corporate Ladder” in the June 4 issue. One measure of progress so far: The Essex House now commands nightly room rates of $400 to $500, nearly the same as its two rivals, according to General Manager Scott Dawson. See ESSEX HOUSE on Page 9 THIS WEEK IN CRAIN’S

37 ALAIR TOWNSEND ------13 THE INSIDER------14 High Line tab at $117M

WEEK IN REVIEW ------16 right to develop the site and thus of retail space, resulting in $20 mil- THE WEEKS AHEAD ------17 Report for Durst drive down the MTA’s proceeds. lion of lost revenue, according to the NEIGHBORHOOD says railway would The Durst Organization, which report. It will also compromise retail is partnering with Vornado Realty space, storage and parking spots and JOURNAL------18 stymie development Trust, is one of a handful of compa- cost a developer $26 million in low- nies expected to bid for the develop- er rents.The cost of tearing down the REPORT: SMALL ment rights. High Line and replacing it with a BUSINESS ------19 BY JULIE SATOW raised park would be $38 million. Foundation questions The MTA has said that it sup- CLASSIFIEDS ------29 restoring the northern portion of durst organization President ports the presence of the High Line, the High Line, the elevated railway Douglas Durst, a vocal opponent of but only if it does not drive down bids REAL ESTATE DEALS------32 that runs along the rail yards on Man- retaining the northern section of the for the site by more than $25 million. hattan’s West Side,will cost $117 mil- High Line,which snakes west along Advocacy group Friends of the High BUSINESS LIVES------35 lion, according to a new report that is 30th Street and north on 12th Av- Line has previously argued that the LIVING LARGE------36 likely to embolden developers seek- enue to 34th Street, says the price cost of maintaining the structure is CORPORATE LADDER------37 ing to tear down the railway. tag is due mostly to the cost of un- under $1 million. The report, prepared by Tish- derpinning the section that runs “Our study also found addition- EXECUTIVE MOVES------39 38 man Construction for The Durst along 12th Avenue. al cost savings by maintaining the BOB LAPE ------39 Organization, comes as the Metro- “The wood is destroyed from existing High Line structure at the politan Transportation Authority, decades of getting wet, then dry and rail yards because demolition costs vol. xxiii, no. 24, june 11, 2007—Crain’s New York Business (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals which owns the 13-acre rail yard, is then wet again—the worst possible and the costs of building the plat- postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address expected to issue a request for devel- condition,” says Mr. Durst. The form in that area would be eliminat- changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a opment proposals on Monday. High Line also contains lead paint ed,” says Joshua David, co-founder copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents The cost of the High Line is cru- that must be abated, he says. of Friends of the High Line. copyright 2007 by Crain Communications Inc. All rights reserved. cial because it will lower the price The High Line will prevent the developers are willing to bid for the development of 13,000 square feet COMMENTS? [email protected]

2 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 3 6/8/2007 6:51 PM Page 1 ESPN Radio gets in game

nancial Network. WFAN’s all-sports lineup, could be Sports station gains Radio observers a good thing for the station in the with hit morning show say that WFAN has end. “If the FAN goes to sports in an advantage in the the morning, Mike & Mike will lose as Imus’ absence local nature of its pro- audience,” predicts Mark Lefko- hurts rival WFAN gramming, par- witz, media director at Furman ticularly with Roth Advertising. homegrown BY MATTHEW FLAMM personalities Local flavor Mike Francesa but executivesat 1050 say that the has long been the Yankees of and Chris increased investment in marketing sports media—the old Yankees,that Russo. The and promotion that began after Dis- is—with its powerhouse cable net- hosts of after- ney spun off its other radio holdings works and dominant Web site. Its noon drive is already paying off. The station is radio division, however, has tended show Mike also more closely integrated now to look like the old, last-place Mets. and the Mad with the rest of ESPN, which has That’s starting to change. The Dog are also given it access to the brand’s on-air flagship station, WEPN-AM in doing fill- talent and marketing expertise. New York, better known as 1050 DYNAMIC DUO: WEPN’s Mike Greenberg (left) and have scored “We were like cousins before,” ESPN, has a hit with Mike & Mike big among male listeners after the firing of WFAN’s (right). says Mr. McCarthy.“Now we’re im- in the Morning—just as archrival mediate family.” WFAN is figuring out how to fill its He adds that the station has be- morning drive-time hole following ings increased significantly. Revenues for the come more local, most notably with the firing of Don Imus. The affable morning duo of New York radio market- the addition of popular longtime Posting the best numbers in its Mike Golic and Mike Greenberg place were flat for the Yankees announcer Michael Kay in six-year history, 1050 has seen dou- scored a 3.4 share among the key au- same period. evening drive. Only Mike & Mike ble-digit growth in its target audi- dience of men 25 to 54 years old—a “Finally, ESPN is [pro- ap images and Dan Patrick’s show do not orig- ences. What’s more, parent compa- 62% jump over the fall survey’s fig- viding] formidable competition,” in duty in the morning. A spokes- inate in New York. ny Disney, having spun off its ABC ure,according to Arbitron.WFAN’s says Tricia Pickering, senior media woman for parent company CBS And while WFAN has the Mets, Radio Network, is putting more fo- ,meanwhile,fell buyer at Carat USA, who places Radio says the pair will stay in the 1050 has spent the last few years cus on its remaining properties, 22% to a 2.9 share. clients on both 1050 and WFAN. slot at least through June. building its sports programming ESPN Radio and Radio Disney. For weekdays from 6 a.m. to 7 “In sports, local is definitely and now airs the Jets,the Knicks and WFAN pretty much invented p.m. among the same demographic, Long way to go king,” says Robert Unmacht, a part- the Rangers. the sports-talk genre 20 years ago 1050’s share spiked 50% over the espn still has a long way to go, of ner in media consulting firm iN3 Media observers say the trends do and is hardly about to lose its first- previous survey’s, to a 2.4. WFAN course. While it’s up in the male Partners Inc. “ESPN doesn’t have look good.But 1050 still has to prove place spot. But 1050 is scoring runs. fell 30% to a 3.5. demos, its overall share of the audi- the perception that it’s in New York it’s in the game. “They had an excel- “A lot of things are hitting at The improved ratings are already ence is still just 0.9% of listeners the way the FAN does.” lent winter [survey], and they are fi- once,” says ESPN General Manag- pumping up the bottom line. Total ages 12 and over. WFAN’s share is WFAN also has a strong signal at nally putting marketing dollars be- er Tim McCarthy.“And lucky for us, billings for 1050 rose 16%, to $4.1 more than double that, at 2.1. a key spot on the dial, and a contract hind the station,” says Stan Gerber, timing wise, there’s change across million, for the first four months of And 1050’s revenue growth is with the New York Mets.Local base- chief strategy officer at JL Media Inc. the street.” the year, according to an industry from a small base.Last year,WFAN ball is the premier sport for radio. “They’ve just got to keep it up.” The good news began for 1050 source, and revenue from local spot billed $51 million against ESPN’s Furthermore, the loss of Mr. this winter, when its Arbitron rat- advertising was up 33%. $10 million, according to BIA Fi- Imus, who was the exception to COMMENTS? [email protected]

BY THE NUMBERS Korean music mogul REACHING NEW HEIGHTS new york city construction spending sets up shop in NYC rose 18.3% last year from 2005, led by sharp gains in commercial building. But Creates “Gateway to Rain,Asia’s first crossover star,who purposes here: to strike deals with government projects still account for half had $20 million in sales last year. U.S. labels and producers and to of all spending. Asia” to develop Mr.Park’s name is now tripping off develop the next global music stars the tongues of U.S. record execu- by teaching his artists the Ameri- istockphoto talent here, but tives who want to work with him. can way to make hits. China is real prize “He’s a hustla,”says Kevin Liles, New York’s music giants, which executive vice president of Warner have been struggling to find new Music Group. “It’s amazing what business models as they deal with BY SAMANTHA MARSHALL he’s done with Rain.” plummeting CD sales (See Crain’s, June 4), are watching the new ar- when music-label owner Jin- rival closely. According to digital Young Park first started sending Korea’s digital music analysts, Korea’s market is at demo tapes of his songs to hip-hop least five years ahead of the United artists in the , he music market is States’—making JYP a case study called himself “JYP.” on how to survive and turn a profit “I didn’t want them to know I at least 5 years in the digital age. was Asian, and Park was a dead The company has been growing giveaway,” says the 35-year-old ahead of U.S. 20% a year since 2002, partly be- Korean entrepreneur, who feared cause 90% of its sales are via digital geography would make American platforms.With just $15 million in artists and producers assume his revenues last year, JYP is still rela- work was mediocre. tively small, but SK Telecom is a Three years later, Mr. Park is To capitalize on his success, Mr. deep-pocketed partner. The behe- helping to close the gap in quality Park will open JYP’s U.S. head- moth has more than 20 million between Asian- and Western-pro- quarters in Manhattan next week. subscribers—60% of the Korean duced music through JYP Enter- The firm, a joint venture with SK mobile market—and revenues of tainment. After creating hits for Telecom, paid $5 million for a $11.5 billion. And it gives JYP rappers Will Smith and Mase, Mr. townhouse on East 31st Street that built-in distribution for its music.

Park discovered and marketed will be the base for his two major See KOREAN MUSIC on Page 8 lindström bekka

June 11, 2007 | Crain’s New York Business | 3 CNYB 06-11-07 A 4 6/8/2007 7:17 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL Hovnanian gets crushed -2.3% The by slumping home sales Bloomberg/ Crain’s New

➡ York Index but hasn’t invested in Hovnanian. “Even on revenue of $6.1 billion. That was a fell 2.3%, to Steer clear of shares; with all the troubles, quite a few builders huge drop from 2005’s record net income end the no sign of a bottom are still profitable. Hovnanian isn’t.” of $472 million on $5.3 billion of rev- week at Earnings at the enue. For the current 398. The for debt-heavy builder company, located in year, analysts forecast S&P 500 Red Bank, N.J., have a net loss of about Index fell indeed collapsed. For $100 million on $4.8 1.9%, BY AARON ELSTEIN the first half of the fis- billion of revenue. closing at cal year, Hovnanian But even those 1508. n old wall street axiom reported a net loss of gloomy estimates warns investors against try- $88 million, com- could prove opti- ing to catch a falling knife. If pared with a $182 mistic, considering a stock is in free fall, stand million profit a year that Hovnanian has back. Do not grab it. earlier. Despite heavy reported nearly $90 RISERS AThat wisdom applies in spades to price-cutting, sales million in net losses so 5-DAY 1-MONTH 3-MONTH CLOSING shares of home builder Hovnanian En- plummeted by a fifth far this year and has % CHANGE % CHANGE % CHANGE PRICE terprises Inc. in the period. What’s doubled its forecasted Warnaco +7.0% +15.3% +35.6% $36.66 Even though the stock closed Friday more, Hovnanian’s drop in closings, to 36% below where it stood Jan.1,this is no cancellation rates, at 24%. Quest Diagnostic +5.1% +5.1% +3.4% $51.50 time for vulture investing. Just listen to 32% of all orders, are Another factor Liz Claiborne +2.0% +3.3% -16.2% $36.05 Hovnanian’s management team, which high even by industry weighing heavily on Market cap $1.3 billion New York Times +1.8% +4.0% +10.2% $26.55 late last month revealed a brutal 29% de- standards. such builders is Dun & Bradstreet +1.4% +7.7% +16.0% $102.31 cline in quarterly sales and admitted, The outlook dark- Profit margin -2.2% lenders’ growing re- “We are not confident that we’ve seen a ened further late last 2-year price change -65% luctance to finance bottom.” month,when Moody’s houses for people with SINKERS How bad will it get? Don’t ask Hov- Investors Service tarnished credit 5-DAY 1-MONTH 3-MONTH CLOSING nanian. It recently withdrew its estimates nudged Hovnanian’s records. Chief Execu- % CHANGE % CHANGE % CHANGE PRICE for the rest of the year. credit rating further into junk territory, a tive Ara K. Hovnanian told investors last G-III -14.4% +5.3% -10.9% $18.63 Hope that its results may begin to sta- move that will raise its borrowing costs. month that fewer mortgage applicants Take-Two Interactive -10.5% -6.6% -4.2% $18.65 bilize, a development that looked so like- Moody’s warned that more downgrades are qualifying. He added that “a further ly just months ago, has all but vanished. are possible and noted that debt levels re- pullback in home buyers’ psychology to- Lazard -8.2% -6.2% -0.7% $50.04 “The company seems to be in worse main “unacceptably high.” Hovnanian ward making a purchase” has had an even Bed Bath & Beyond -7.1% -7.7% -5.2% $37.62 shape than a lot of its rivals,” says Doug carries $2.5 billion of debt. bigger effect. New York & Co. -6.8% -14.9% -25.8% $11.45 Pratt, a portfolio manager at hedge fund Last year, the company reported net Mesa Capital who follows home builders income of $150 million, or $2.14 a share, COMMENTS? [email protected]

STOCKS TO WATCH by Erik Ipsen Hedge fund named Goldman Sachs gets a quick clipping in the market THESE ARE TRICKY TIMES to bet on the markets. Just ask Goldman Sachs, which until recently did so very well wagering pots of its own money that the firm was said to be more hedge fund than investment bank. That identity got Goldman into trouble last week as investors panicked, pushing the shares down 3% on Thursday. They had snapped back nicely from a 15% late-winter stumble, but investors may tire of all this volatility. Tortoises win races, too. Case in point, a little-noticed midsize company called Pall that makes filtration devices for everything from water to blood. The products are hardly exciting, but the firm, which is opening a research lab in India, posted a 43% jump in quarterly profit last month. Its stock has soared from $15 in 2003 to an all-time high of nearly $46 early last week. The shares ended the week down 2%. Last week, Morgan Stanley gave Sirius Satellite Radio a $250 million loan as it adds subscribers and shrinks its losses. Still, many think Sirius’ only hope is for regulators to bless its planned purchase of rival XM. With the head of the Federal Communications Commission saying that the merger faces “high hurdles,” it’s no wonder the stock took another bath last week, falling 5%. The shares have plummeted 36% in the past year. charts: lindström bekka

4 | Crain’s New York Business | June 11, 2007

CNYB 06-11-07 A 6 6/8/2007 3:40 PM Page 1

NEW YORK,NEW YORK edited by Valerie Block invites you to

THE 42ND ANNUAL encoreawards A taste of Tavern online TUESDAY, JUNE 19, 2007 onsumers can finally get a taste of Tavern on the Green without leaving home. The popular tourist destination will announce today that it’s selling a line of sauces, Cipriani oils and marinades at TavernDirect.com, a site that quietly went live on May 15. 110 East 42nd Street, New York, NY C Twelve products, including Central Park Signature Dipping Oil and Chandelier 11:00 a.m.–12:00 p.m. Chardonnay Marinade are available for about $10 a bottle. Reception It’s not the first time the restaurant has tried selling condiments. 12:00 p.m.–2:00 p.m. More than a decade ago, it offered sauces and salad dressings in its Seated Luncheon and Awards Presentation gift shop but discontinued the effort to focus on other business For tickets, call 212.279.5910, ext. 29. matters. The renewed retail strategy will help Tavern build awareness for For more information and a list of this year’s honorees, visit www.artsandbusiness-ny.org/sc/encore. its brand as it opens restaurants around the country, says owner Jennifer LeRoy (right). A Tavern opened in Wellington, Fla., last 2007 UNDERWRITER year, and deals in Las Vegas and Atlantic City are in negotiations. “Maybe there will be a state where our sauces are popular, and we’ll consider opening a restaurant there,” says Ms. 2007 SPONSORS LeRoy, daughter of the late Warner LeRoy, who ran Tavern for 27 years. A number of supermarket chains are selling the products as

2007 Media Sponsor well, including Wegmans and Wilson Farms/Sugarcreek.

June 30. Cares’ budget will increase 11% to Dow Jones vet The film with the most votes $5.1 million in fiscal 2007/2008. on the move will win a red carpet premiere next month at the Tribeca Cinemas in paul ingrassia, one of the stars lower Manhattan, where the top Highlighting of Dow Jones & Co., is planning 20 films will be screened over NY attractions to move on. And it has nothing to three days in front of an audience do with Rupert Murdoch’s bid to buy of 3,200.The most popular film at nyc & company has a new the company. A Pulitzer Prize- the screening will be awarded a formula for drawing suburbanites winning journalist who ran Dow nationwide debut at about a dozen to the city. For the past eight Jones newswires from 1998 until theaters on Sept. 5. weeks, the tourism bureau has 2006, Mr. Ingrassia was named to been featured on WNBC’s News 4 the new position of vice president You with Perri Peltz at 5:30 p.m. of news strategy for Dow Jones last Corporations The 3-minute segment airs on Long established July. At the time, he was show they care Thursdays, plugging venues like considered a front-runner in the Lorenzo’s Restaurant Bar & commitment contest to replace Paul Steiger as volunteerism is hip these days, Cabaret on Staten Island. managing editor of The Wall Street and here’s proof. New York Cares After being mentioned as one Weiser LLP Journal. But in April, the job went says 2007 will be a banner year, of the most romantic restaurants in Certified Public Accountants to the Journal’s deputy managing with 12,000 corporate volunteers the borough, Lorenzo’s saw its editor, Marcus Brauchli. serving, versus last year’s 6,000 business jump on a Saturday in According to a newspaper do-gooders. And that’s just early April. insider, Mr. Ingrassia is leaving in participants in corporate Now the partners are planning a response to being passed over. He programs. Some 335,000 feature at the end of June high- to the did not return a call. individual New Yorkers lighting 100-block walks in the city. New York City New York A Dow Jones spokesman says volunteered last year. “If we can just get families that 135 West New York, NY 10020 business community that “nothing has been decided “A [recent] body of research come in three or four times a year, Tel 212.812.7000 about [Mr. Ingrassia’s] future.” shows that corporate volunteering that means millions of dollars of Fax 212.375.6888 For nearly a century,Weiser has provided is good for business,” says extra revenue for the city,” says an Ariel Zwang Long Island accounting, tax, and consulting services, such Executive Director . NYC & Company spokeswoman. 3000 Marcus Avenue as state and local tax planning, internal audit A cyber path “Employees derive great The show is also free Lake Success, NY 11042 outsourcing, and business restructuring, to the screen satisfaction working for an advertising for the bureau. Tel 516.488.1200 to private clients and business enterprises, employer that cares about the Fax 516.488.1238 including closely-held and emerging entities, it ain’t sundance, but community, and consumers want Contributors: Lisa Fickenscher, Matthew Westchester in a variety of industries including: Independent Features Film to buy from socially responsible Flamm, Amanda Fung 660 White Plains Road Festival, a new Web-based companies.” Suite 430 • Real estate contest, may give aspiring indie Last week, Tarrytown, NY 10591 • Manufacturing and distribution Tel 914.333.0555 filmmakers their big break. employees from • Auto dealerships “The response from filmmakers accounting giant RADIO RELAUNCH Fax 914.333.0556 • Media and communication has been great,” says Phil Nelson, Deloitte & Touche • Banking AIR AMERICA RADIO celebrated its New Jersey Independent Features’ founder, helped low-level 399 Thornall Street • Food and dairy relaunch under new management who spent about $150,000 in offenders at Mid- Edison, NJ 08837 • Health care last Thursday at CEO Mark Green’s private investment to launch the town Community Tel 732.549.2800 • Financial services Manhattan loft. Surprise guest for- Fax 732.549.2898 event. About 200 full-length films Court hone job- • Professional services mer President Bill Clinton (right) and shorts have been uploaded to seeking skills. www.weiserLLP.com • Not-for-Profit wowed the liberal crowd, which included former www.independentfeatures.com Corporations pay Mayor David Dinkins and WABC radio host Ron since the contest began on June 1. a minimum of For more information, contact Douglas Phillips at 212.375.6701. Kuby. Mr. Green said the company has signed on The site is attracting 1,000 daily $5,000 for the several new affiliates, “the first growth in a year.” page views, according to Mr. specially designed

Nelson.The deadline for entries is programs. New York bloomberg news

6 | Crain’s New York Business | June 11, 2007 Project3 6/4/07 12:29 PM Page 1

Knows his catastrophe plan should be as fresh as his bread. Knows free seminars on disaster preparedness can help reduce costly property damage.

Yes, there’s a Property insurer that’s as responsible as you are.

Whether it’s a fire, a theft, or wind damage, Liberty Mutual doesn’t just help you recover. We can help you prepare — with practical strategies that help you improve your disaster preparedness plan or develop one from scratch. We’re relentless when it comes to loss prevention strategies that can help you reduce costly property damage. And about raising your expectations of what an insurance company can do.

For more information on insuring your business, visit libertymutual.com/business.

WORKERS COMP COMMERCIAL AUTO PROPERTY GENERAL LIABILITY UMBRELLA GROUP BENEFITS

© 2007 Liberty Mutual Group. CNYB 06-11-07 A 8 6/8/2007 7:20 PM Page 1

permit 18 towers and Planning Commission—which has an underground net- scheduled hearings for July 9 and Columbia fireworks work six stories deep July 23—will consider two compet- for tunnels, two power ing plans in Ulurp: Columbia’s doc- Continued from Page 1 about $1.5 million since 2004, has plants, parking areas ument and a community vision lish Columbia’s application for a retained influential African-Amer- and loading docks.The known as 197A drafted by Mr. zoning change online, certifying it ican lobbyist Bill Lynch. target date for comple- Shiffman and other professional as complete and starting the seven- Lobbyist Richard Lipsky is rep- tion is 2030. planners. month land-use review process resenting Nicholas Sprayregen,who Mr.Kasdin says that conforming known as Ulurp. owns five warehouses in the area and Community outreach to the neighborhood’s proposal Community Board 9, Mr. doesn’t want to leave. Civil liberties opponents say that would accomplish only a third of Stringer and the City Planning lawyer Norman Siegel is tracking Columbia is trying to what Columbia needs. “If it’s piece- Commission will review the plan the eminent domain issues on behalf force its project on the meal, we won’t be able to move a lot and recommend changes. The City of a handful of private landowners. community.They want of functions underground,” he says, Council will have the final vote. And high-profile development at- to work with the uni- adding that open space and a clear torney Jesse Masyr is representing versity to preserve resi- passage to the Hudson River would State’s role key the principal community organiza- dences, historic build- be sacrificed. A piecemeal approach at the same time, Columbia is tion,the West Harlem Local Devel- ings, businesses and would also undermine their effort to pursuing a state process to take some opment Corp. more than 1,200 jobs. create a campus atmosphere. “We properties by eminent domain. A Columbia says that its ability to Ron Shiffman, a have found that there are intellectu- handful of business owners have re- compete for the world’s best stu- planner working on al benefits by having students and fused to sell to the university, which dents and faculty is at stake.It argues behalf of the commu- faculty in close proximity,”Mr.Kas-

has amassed nearly 70% of the land that it has fallen behind its peers in lindström bekka nity board, says Co- din says. in the project area. space available for academic re- lumbia could make its Sources say that the West Gov. Eliot Spitzer and the two search,particularly science research. year and be completed by 2015. neighbors happy and still get 85% of Harlem Local Development Corp. legislative leaders,Assembly Speak- Columbia plans to move its business The university is less specific what it wants. might be willing to give Columbia er Sheldon Silver and Senate Ma- and arts schools to the West Harlem about its plans for later phases of the State Sen. Bill Perkins, who rep- rights to build underground in ex- jority Leader Joseph Bruno, will campus and build a neuroscience re- $7 billion project. Robert Kasdin, resents Harlem, says the university change for some community bene- have the ultimate say as appointers search center, as well as a nearby Columbia’s senior executive vice doesn’t seem to have any interest in fits, such as the relocation of the of the Public Authorities Control public high school for math, science president, says those decisions will compromise. “I don’t know if they families and artists who will lose Board. and engineering. That’s all part of be made as university departments care, frankly, because they realize their homes in public housing. Hired guns are lining up. Co- the first phase of construction, outgrow their facilities. they have the upper hand,” he says. lumbia, which has paid lobbyists which could begin as early as next The school’s application would For the first time ever, the City COMMENTS? [email protected]

Street sector. ing the nation’s,” says Jason Bram, But for now, Wall Street contin- an economist with the Federal Re- New York City economy booms ues to be the city’s economic engine. serve Bank of New York, “but it’s a With jobs that pay an average of huge factor.” Continued from Page 1 en up her apartment in midtown $340,000—up 40% since 2000— Self-employed people are “driv- STACKING UP Manhattan and moved into a loft the local securities industry added Bonuses help retail ing the city’s economic growth,”says residence and workspace in Bush- 4,900 positions through April of hefty wall street bonuses—as Sarah Horowitz, executive director 2007 unemployment rates.* wick, Brooklyn, where she makes this year.The hiring took place amid well as overseas tourists armed with of the Freelancers Union.“All of the MONTH NYC U.S. glass jewelry she sells in boutiques a surge in mergers and acquisitions cheap greenbacks—are also boost- city’s key industries rely on them.” and art museum stores around the and initial public offerings. ing the retail industry. Retail, which January The payroll job count, which 4.9% 4.6% country. Revenue from trading, a particu- has an average annual wage of doesn’t include the self-employed,is February 5.0% 4.6% She is earning about half her pre- lar focus of New York investment $33,000, grew more than any other forecast to reach 3.7 million at the vious salary but expects to do at least banks, nearly doubled last year, sector in the first four months of this March 4.3% 4.4% end of 2007. That number is ahead as well on her own eventually. helping drive net income up about year, tacking on 5,300 jobs, of where job levels were in 2000 and April 4.4% 4.5% “I have been given a couple of job 19% in the U.S. securities industry In the same period, construction excludes thousands of census takers *Seasonally adjusted offers,” she says. “But now I realize in 2006, a record year. added 3,900 jobs, which pay an av- hired that year. Sources: Bureau of Labor Statistics, it’s nice to set my own schedule and “A lot of the areas that were driv- erage of about $58,000. Looking Over the last eight months for NYS Department of Labor fulfill my own destiny.” ing growth in the last couple of years ahead at construction in the city, a which data are available,the city’s un- continue to power the industry,” recent report from the New York employment rate stood below the na- Some weaknesses says Michael Decker, research di- Building Congress said, “The eco- tion’s four times. Before last year, Ms. Fraczek, 32, was laid off a amid the good times, a few in- rector of the Securities Industry and nomic indicators for construction such a situation almost never existed. year ago from a $75,000-per-year dustries are weak. Manufacturing is Financial Markets Association. activity and employment through The economy’s hidden source of job as creative director at an interna- in a long-term decline, which is The party on Wall Street is 2008 are so strong as to preclude a strength has been its scrappy, entre- tional jewelry company.She says her dragging down wholesale trade. spilling over into other sectors, such significant decline in the forecast preneurial self-employed workers. employer sent her to India to train More worrisome, investors are sud- as law and accounting, that do a period.” They numbered 760,000 in 2005, people who she thought were to be denly jittery about the prospects for large volume of business with finan- The same might be said for the up 37% from 2000. Their ranks are on her team. But one of the people inflation and higher interest rates, cial firms. rest of the city’s economy. continuing to grow, thanks to New turned out to be her replacement. which could hurt stocks and take the “Wall Street isn’t the only reason Yorkers like Kim Fraczek. Since then, Ms. Fraczek has giv- wind out of the city’s crucial Wall for the city’s economy outperform- COMMENTS? [email protected]

not having 23-year-old Rain learn English before he had his debut. Korean music mogul to NYC Though the pop sensation was the highest-grossing artist on the plan- Continued from Page 3 ly futuristic,it’s taking an old-school are teens—dance and recording stu- et last year, being able to sing in and South Korea is the only market approach to creating content. dios and offices for the label’s eight speak the language would have ex- where digital sales have overtaken Insiders characterize JYP’s staffers. panded his reach. physical sales. townhouse as a contemporary ver- The kids—all Korean and Chi- “These guys are on to something,” sion of Hitsville USA, the Detroit nese, whom Mr. Park refers to as October surprise says Paul Verna,a senior analyst at re- residence where Motown’s Berry “students”until their first albums are mr. park won’t make that mistake search firm eMarketer.com.“It’s def- Gordy managed and developed in- released—will be enrolled in private with his next protégé, Min, whose initely a signpost.” dividual singers and groups 40 years schools. They will spend the rest of first single is expected to drop in Oc- Mr. Park has no great ambitions ago. Others compare Mr. Park with the time under strict supervision tober.The petite,fresh-faced Korean, to conquer the U.S. market, which Lou Pearlman, the Orlando, Fla., studying English as well as music 15, now speaks English fluently and he sees as mature and limited. In- mogul who created boy bands New theory, composition and arrange- is learning Chinese.Mr.Park is team- stead,his main goal is to create a star Kids on , ’N Sync and the ment. They will learn how to play ing up on producing her first album that China can love, and he will use Backstreet Boys. instruments, and will receive voice with an unlikely collaborator:Lil Jon, any success he has here to lend his and acting lessons. the Dirty South rapper-producer artists credibility in Asia. Music academy “Even when a kid has got talent, I who helped popularize crunk music. “At the end of the day,America is mr. park, who renovated the home want to make sure they are truly ready “Min’s style mixed with Lil Jon’s just a symbolic market,” Mr. Park in a sleek Japanese style, calls it the for success,”says Mr.Park,a classical- grimy beats is gonna be hot,” Mr.

says. “There are only 300 million Gateway to Asia and describes it as ly trained pianist who was a hip-hop Park says. roger hagadone people here.” an academy.It will house eight dorm performer in Korea until 2001. PARK HERE: Jin-Young Park will debut his Though his company is decided- rooms for artists—most of whom The urban-music mogul regrets COMMENTS? [email protected] Gateway to Asia on June 20 with a party.

8 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 9 6/8/2007 2:19 PM Page 1

travelers.The New York property is already far more modern and less TOP LEASES, SALES Essex House looking for 5 stars complicated to sell than it was be- fore work began. Starwood operat- COSTAR SEEKS Continued from Page 2 ed it as both a Westin and a St. Reg- INFO ON REAL The cost of the revamp, sched- is, booking 104 rooms as the St. uled to be finished in October, will Regis Club at the Essex House. ESTATE DEALS reach $90 million (the Plaza’s price Jumeirah is reducing the number COSTAR GROUP INC. is compiling tag is estimated at $400 million- of guest rooms, bringing the Essex data for two lists covering the plus). The refurbished property, House closer in size to New York’s New York real estate market in which has remained open,will boast five-star hotels—the Four Seasons, the first half of 2007. The first is a 30 brand-new condominiums sell- Mandarin Oriental, Peninsula, St. list of the largest office leasing ing for $1.5 million to $5 million, a Regis and both Ritz-Carltons. But deals in Manhattan, ranked by new restaurant and lounge, and 515 with 515 rooms,it’s still large by lux- redesigned guest rooms to match ROOMS TO MOVE ury standards. square feet; the second is a list of the most luxurious in the city. The property’s accommodation mix pre- and To counter this, Jumeirah is im- the largest commercial property post-renovation. proving service and hiring more sales in the five boroughs, ranked Low profile by deal price. The list of sales will BEFORE AFTER staff, for a ratio of 1.4 employees per dubai-based Jumeirah Interna- guest room. Mr. Dawson says that include office building, tional took over management of the Total rooms 605 515 the property had 0.7 per guest room apartment building, hotel and 75-year-old property from Star- Suites 100 105 under Starwood’s management. In development site transactions. Both rankings will be wood Hotels & Resorts in 2005, Condos 130 160 Dubai, where labor costs are lower, when Dubai Investment Group some of Jumeirah’s properties have published in Crain’s New York bought it for $440 million.Jumeirah as many 10 employees per room. Business on July 30. has deliberately kept the transfor- The company’s approach in- Brokers and others with mation low-profile. aging director of Cushman Wake- took over, the Essex House lost a cludes undercutting the top brands information on transactions that “We kept our gunpowder dry field’s hotel financial services group. number of customers who valued in price while offering comparable could qualify for either list should when we first came into town, but Ten-year-old Jumeirah also op- Starwood’s frequent-guest pro- services.If booked now,for instance, phone Marcie Wallis of CoStar at now we are beginning to tell our sto- erates six luxury properties in the gram, which lets them redeem a suite at Jumeirah Essex House in (866) 398-9381, or e-mail her at ry,” Mr. Dawson says. United Arab Emirates and two in points at any of Starwood’s eight October would cost $750, com- [email protected], by Friday, But becoming a top brand here London. Though the group is well- chains worldwide. pared with $900 at one of the city’s June 29. takes a lot more than redecorating known in the Middle East, it must “It’s been very difficult to grow five-stars. and plumping pillows.Additionally, build awareness in the United the brand,” Mr. Dawson says. “We have carefully analyzed our New York hasn’t been that hos- States. The group plans to open “We’ve had to explain what it is.” place at the table, and we believe we pitable to foreign hoteliers; only a about eight hotels in this country are moving into a space that is va- at PKF Consulting, says, “There’s handful have made a go of it here. over the next five years,with the aim Established name cant,” Mr. Dawson says. probably half the number of hotel “Americans have been more suc- of better competing with chains that still, the essex house’s estab- One advantage the hotel will al- rooms facing Central Park than cessful in moving their hotel brands have corporate relationships and lished name helps further ways have is its location and views— there were just a few years ago.” overseas than vice versa,” says vast reservation systems. Jumeirah’s goals, one of which is to more now than ever before. Thomas McConnell, senior man- For instance, when Jumeirah be top-of-mind for the wealthiest John Fox, a senior vice president COMMENTS? [email protected]

Contact us at 1-800-PORSCHE or porscheusa.com. ©2007 Porsche Cars North America, Inc. Porsche recommends seat belt usage and observance of all traf fic laws at all times.

Few things in life are more gratifying than the responsive nature of the Porsche Cayman. Translating your every instinct into action with its 245-hp, 2.7-liter, mid-mounted flat-six engine, it provides compelling compensation for your purchase decision. See your local Porsche dealer for details. Porsche. There is no substitute. A dream come true. How’s that for a return on investment? The Cayman. Leases starting at $589 per month.

2007 CAYMAN LEASE Manhattan Pepe Porsche Prestige Porsche $ /MONTH Motorcars (914) 397-0100 (845) 627-0002 589 48MOS (888) 810-7419 White Plains, NY Nanuet, NY $4,334 due at lease signing Excludes tax, title, and license fees. New York, NY No security deposit required.

Actual lease price determined by your Authorized Porsche Dealer, your payments may vary. Closed-end lease offered to qualified lessees with approved credit by Porsche Financial Services, Inc. through participating dealers through 6/30/2007. Estimated payments based upon MSRP of $50,195 (includes destina- tion charge). Price excludes title, taxes, registration, license fees, insurance, and maintenance. Lease payments of $589 for 48 months = $28,272 based on capitalized cost of $44,395 (includes dealer participation). Total due at signing $4,334 (first month’s payment, acquisition fee of $745, and capitalized cost reduction of $3,000). At lease end, lessee pays excess wear, $.30/mile over 40,000 miles and $350 termination fee. Purchase option at lease end $27,105.30 plus taxes. Specific vehicles and options are subject to availability and your price may vary. See participating dealers for details. For your nearest dealer, call 1-800-PORSCHE or visit www.porscheusa.com.

June 11, 2007 | Crain’s New York Business | 9 CNYB 06-11-07 A 10 6/8/2007 1:44 PM Page 1

Foreign exchange fraud rising REGULATOR DOES MORE WITH LESS WITH MORE INVESTORS DABBLING in the futures markets, the industry’s chief Continued from Page 1 futures fraud. regulator is overmatched as it tries to police its fast-growing beat. unsophisticated investors, to expect Mr. Pappalardo, the son of a Staffing levels at the Commodity Futures Trading Commission’s annual returns of 45%. About 160 pharmacist, entered the business in enforcement division have declined to 110 people, compared with about 170 people swallowed the bait and sent a roundabout way. He dropped out in 1998. The CFTC employs fewer people than at any time since the agency in $3.5 million. of the College of Staten Island after was created in 1974. The decrease has come even as futures have exploded. It was all a sham. Richmond a year to work in construction. His Last year, traders moved 2.4 billion futures contracts, or more than double Global had no idea how to make friend and co-worker, Daniel Surgi, 2002’s level, according to the CFTC. money in the futures markets.In Feb- says the two liked to leave the job site “The drop in staff is a real concern,” says Geoffrey Aronow, a CFTC ruary 2005, the feds intervened and sometimes early to watch movies. enforcement chief during the Clinton administration who is now a partner at shut the firm down, but not before The Rocky series was their favorite. law firm Heller Ehrman. Indeed, the CFTC filed only 38 fraud cases of any sort Mr. Pappalardo and his associates buck ennis In March 2003, Mr. Pappalardo last year, well below its target of 60. Officials acknowledge the problem, and stuffed about $1 million of their cus- was hired as vice president at Rich- the Bush administration is seeking a $17.9 million increase in next year’s tomers’ cash into their own pockets. The firm was mond Global, where his wife’s budget, to $116 million. For Mr. Pappalardo, the denoue- brother was president. Despite its But even a budget of that size ment comes at 2 p.m. today,when he merely phones lofty name, the firm was merely a wouldn’t come close to addressing reports to federal authorities to begin bank of phones and desks in a sec- SHRINKING FORCE a two-year prison sentence for con- and desks above ond-floor office suite at 106 New Embattled regulator is filing fewer the CFTC’s needs. “The entire agency spiracy to commit mail and wire Dorp Plaza on Staten Island. Rich- civil actions alleging forex fraud. is being asked to do more with less, given our funding situation,” says fraud.When he looks at the mess he’s a catering firm mond Global was a typical “boiler Fiscal Total Forex made of his life, he feels humiliated. room,” where brokers relied on sales year cases cases Gregory Mocek, CFTC’s director of enforcement. “I wish I never did it,” he says. “If scripts, threats and outright lies to 2001 44 7 I could do it all over again,I’d have my get money from people. Democrats who now control head cut off to examine it. I regret “From the get-go, the firm was 2002 40 13 Congress say they will seek to boost the CFTC’s budget beyond that people lost money. I regret that ment actions represent a tiny drop in operated in a manner to defraud the 2003 64 34 people around me have to suffer.” a huge bucket. Regulators say that public,” says CFTC attorney David the administration’s request. Fraud in the futures market is ex- currency trading is an easy way to MacGregor. 2004 83 15 At a Senate appropriations ploding. The most popular form of lure naive investors. One investor who got duped was 2005 69 17 subcommittee hearing in March, Sen. fleecing is what Richmond Global “Anyone who ever changed Eli Sadownick, a 70-year-old resi- Dick Durbin, D-Ill., observed that the 2006 38 6 did. It fraudulently sold foreign ex- money overseas on vacation has an dent of Rye Brook, N.Y., who lost chief stock market regulator, the change, or forex, futures.The Com- idea what forex is about,” says about $10,000. He says Richmond 2007* 24 5 Securities and Exchange modity Futures Trading Commis- CFTC attorney Karin Roth. Global called and told him that fu- *Through June 6. Commission, employs 73% more sion, the chief regulator of the tures trading was “the closest thing Source: Commodity Futures Trading Commission people than in the mid-1970s, while futures business, calls the practice a Phantom sales to a sure thing” because the firm’s CFTC has 10% fewer. “growing epidemic.” of course, scoundrels have always brokers were so experienced. Rich- “Is the $17.9 million increase in funding that the president seeks Even with limited resources, the been a part of Wall Street. A centu- mond Global’s Web site declared adequate to meet your responsibility to protect those involved in this agency has filed 97 forex fraud cases ry ago, they sold shares in nonexist- that its traders had “over a decade of marketplace?” Mr. Durbin asked the CFTC’s chairman, Reuben Jeffery III. since 2000,imposing $460 million in ent gold mines or railroads. During experience” and adhered to all gov- Not really, replied Mr. Jeffery, a former Goldman Sachs partner. “It should monetary penalties and another the 1990s bull market, firms such as ernment rules and regulations. In be viewed as a beginning—not an endpoint—of addressing a steady erosion in $257 million in restitution. The Long Island’s Sterling Foster or fact, regulators say,they had no such our capabilities over the course of the past several years.” CFTC’s investigations have resulted Stratton Oakmont touted worthless experience and never even regis- in 70 criminal indictments. penny stocks. tered with the CFTC. Still, $1.9 trillion worth of cur- The corruption at Richmond “They kept calling me to say I rencies trade daily. So the enforce- Global is a classic example of today’s had to invest more, more, more,” Mr. Sadownick recalls. “I wouldn’t charged with one count of criminal do it,and when I tried to reach them conspiracy and five counts of fraud. to close my account, I couldn’t get So was Vincenzo Danio, who regu- anyone on the phone.” lators believe founded Richmond. A client in Michigan says that All pleaded guilty to the conspiracy when he fended off a Richmond charge except Mr.Turner,whose case The Global employee’s relentless pitch, is pending. Mr. Danio, 31, is serving the broker screamed that he couldn’t a 30-month sentence at a federal back away from a commitment. penitentiary in Pennsylvania, and Then the broker came back with an- Mr. Vinokur, 27, was released April Neighborhood’s Changing. other offer: Anytime the client’s ac- 11 after serving a year and a day. count fell by 3%, the firm would sell Mr.Pappalardo says he knew that to minimize losses.The customer in- what he was doing at Richmond Get In Early. vested $50,000. Richmond Global Global was wrong, but that he didn’t didn’t keep its promise—the client’s dwell on the possible ramifications account lost 44% in a single month because he was busy taking care of and had only $7,314.20 left when it his dying father. To settle a civil suit We’re going to need a great new restaurant. was finally closed. with the CFTC,he has been ordered Richmond Global not only ag- to pay $720,000 in penalties, dis- gressively pushed clients to invest, it gorgement and restitution. At least solicited them for loans. Mr. Pap- 25% of his income will be garnished palardo told a Pennsylvania cus- from his future paychecks. His mar- tomer that he would get a 15% in- riage recently ended in divorce. terest rate if he lent the firm money. People who knew Mr. Pappalar- The man sent $10,000. He received do as a youth say they’re stunned by one $375 interest payment and nev- the direction his life took. Jeanne er got another. White, headmistress at Richmond- town Prep, his high school, remem- PENN Undone by sting bers him as an exemplary student. the scheme at Richmond Global “He cared about fellow students,did 21PLAZA went on for more than three years and his work,wasn’t conceited,”she says. didn’t end until three FBI agents pos- “He was not at all a troublemaker.” ing as a hedge fund manager and re- Before heading to prison, Mr. tail customers opened accounts. The Pappalardo served as an usher at the 2 Outstanding Retail Opportunities: 4,620 rsf & 2,440 rsf agents turned over their evidence to June 1 wedding of Mr. Surgi, the federal prosecutors, who shut down buddy who watched Rocky movies • Directly across from the new Penn Station • Ideal for restaurant & apparel the firm and arrested its top officers at with him.Mr.Surgi says that people • ½ block from FIT’s new dorms • Millions of feet of proposed office space 6 a.m. on Feb. 17, 2005. Richmond are heartbroken—especially Mr. Global’s former office is now used as Pappalardo’s mother, who is about • Thousands of new apartments a dining hall by a catering company to lose her only child for two years. located on the first floor. “It’s killing her,” he says. “It’s Gary M. Rosen • 212-216-1687 • [email protected] Mr. Pappalardo; his brother-in- killing everyone.” law, Ronald Turner; and Senior Vice Howard J. Tenenbaum • 212-216-1685 • [email protected] SLGREEN.COM President Miron Vinokur were COMMENTS? [email protected]

10 | Crain’s New York Business | June 11, 2007 Project6 5/24/07 4:12 PM Page 1

WORK LOCALLY. AND GLOBALLY.

INTRODUCING THE NEW BLACKBERRY® 8830 WORLD EDITION.

Sleek, stylish and complete with the latest features. The new BlackBerry 8830 World Edition has all the tools you need to keep in touch. • Provides access to voice, data, e-mail and downloads around the globe. • Lets you use one local number that can be reached abroad. • Equipped with voice recognition, trackball navigation, media player and more. • Bluetooth® capable for certain profiles.*

LIMITED-TIME OFFER: GET THE BLACKBERRY 8830 WORLD EDITION FOR ONLY $399.99 2-year price less $100 advanced device credit, less $100 mail-in rebate = $199.99 with new 2 year activation on any voice 99 plan of $39.99 monthly access or higher and a data feature of $ $44.99 monthly access, or any new Voice and Data Choice after SM 199 rebate Bundles Plan starting at $79.99 monthly access, or higher.

SO YOU CAN WORK AT HOME AND ABROAD. CALL 1.800.670.0222 OR VISIT VZW.COM/BLACKBERRY

VERIZON WIRELESS COMMUNICATIONS STORES See store for Return/Exchange Policy. MANHATTAN 57 W. 57th St. 100 Wall St. & Water  Westbury Smith Haven Visit the Verizon Wireless Store 342 Madison Ave. btwn. 5th & 6th Ave. (Closed Sat & Sun) 49 Old Country Rd.  1 Smith Haven Mall & 43rd St. 212-980-4860 212-510-6160 516-937-2960 631-382-3720 inside Circuit City and BJ’s. 212-856-6100 581 NASSAU SUFFOLK WESTCHESTER Staffed with Verizon Wireless employees. Union Square  1/2 block south of Houston Rockville Centre  Bay Shore White Plains Verizon Wireless 859 Broadway 212-431-4613 265 Sunrise Hwy. South Shore Mall  The Westchester Mall in select locations. 212-206-7587 516-594-0346 631-968-5432 914-286-4100  Hablamos Español

Activation fee/line $35. IMPORTANT CONSUMER INFORMATION: Subject to Customer Agmt, Calling Plan, rebate form and credit approval. Up to $175 early termination fee and other charges. Offers not available everywhere. While supplies last. Shipping charges may apply. Rebate takes up to six weeks. *BlackBerry 8830 supports Bluetooth profiles for wireless headset, hands-free profiles and serial port profiles. The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties of and trademarks or registered trademarks of Research In Motion Limited — used by permission. © 2007 Verizon Wireless. CNYB 06-11-07 A 12 6/7/2007 7:57 PM Page 1

VIEWPOINT 3 measures good for business editor in chief Rance Crain publisher Jill R. Kaplan here is a new sheriff in albany, and it It is indisputable that the downstate region needs additional EDITORIAL is just possible that he will force action on plants to meet rising energy demands. Even if a new emphasis editor Greg David three important issues that have on conservation by city and state officials curtails demand, managing editor Richard Barbieri deputy managing editors Valerie Block, languished because of the Byzantine ways New York will still need cleaner power plants to replace aging, Erik Ipsen of state government. All three went dirty generators. A bill that restores a workable approval assistant managing editors Carmen Fleetwood, Robert Hordt nowhere in the Pataki era, but Gov. Eliot process is badly needed, but it must not impose such high columnist Alair Townsend Spitzer is determined to prove that he is a environmental burdens that no new plants are built. senior reporters Aaron Elstein, Lisa Fickenscher, Matthew Flamm, different sort of governor. New York business interests would Tom Fredrickson, Samantha Marshall, be well served by enactment of all three measures: reform of FAMILY LEAVE Anne Michaud, Julie Satow, T Miriam Kreinin Souccar the Wicks law, new rules for siting power plants and a plan federal law requires that companies with more than 50 reporters Barbara Benson, Elisabeth Butler, to provide paid time off for those who care for close relatives. employees provide up to 12 weeks of unpaid leave for illness Erik Engquist, Amanda Fung, Hilary Potkewitz, Gale Scott or to care for newborns or other close relatives. Few people restaurant critic Bob Lape WICKS LAW take advantage of the law, however, in part because lower- art director Steven Krupinski deputy art directors Carolyn McClain, fixing the wicks law is the most important.The statute, paid workers can’t Daniel Mednick which hasn’t been updated in years, requires virtually all afford to take time off. staff photographer Buck Ennis Spitzer wants copy desk chief Wendy Zuckerman public construction projects to be divided into four separate Labor and advocacy copy editors Michele Arboit, contracts. In the private sector, builders hire general to prove he can groups have long tried Thaddeus Rutkowski research editor Denise Southwood contractors to coordinate construction and control pass long- to mandate paid leave, associate research editor Adrianne Pasquarelli subcontractor costs.The result of Wicks is that public which would be www.NewYorkBusiness.com projects cost at least 25% more than they should. stymied bills burdensome for many online editor Catherine Tymkiw In an ideal world, Wicks would be abolished. But the businesses.The Spitzer online reporter David Jones Spitzer era is a work in progress. Being considered is a plan provides a cost- EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 compromise that would exempt from the four-contractor effective alternative. editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 rule upstate projects costing less than $500,000, suburban The state disability fund Cable craincom nyk projects under $1.5 million and city projects under $3 would provide $170 a week for up to 12 weeks for the care of Fax 212.210.0499 Entire contents ©copyright 2007 Crain million.The only bill worth passing is one that sets those newborns or ill relatives financed by a 45-cent a week Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP thresholds or higher ones. Hopefully, showing the true cost deduction from workers’ checks. (This mirrors the system that Inc., used under license agreement.

of Wicks will spark momentum for erasing the law. provides state benefits when workers become ill.) TO SUBSCRIBE: True, the law would be a hardship for businesses with Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. POWER PLANTS fewer than 50 employees, because they would be forced to www.NewYorkBusiness.com

the second-most-important issue is a new law on power grant leaves. But it would provide an important benefit to ADVERTISING AND MARKETING plant siting. For many years, construction of plants was lower-income workers. Besides, it’s likely that the option advertising director Vanessa Cognard business development manager authorized under Article X, which provided a streamlined, would be used sparingly and only for important family needs. Robert N. Grossman state-controlled approval process to sidestep NIMBY local It is a fair way to balance the needs of employers and workers. senior account manager William E. Squitieri opposition. Since that law expired in 2002, a standoff Business groups strongly back Wicks reform and passage account executives between business and environmental groups has stymied of a power plant law. Executives should get behind Mr. Andrew Carlin, Lisa Pearly, Derek Reese, Jennifer Siniscalchi, Brigitte Stieglitz legislation, and no new power plants have been undertaken. Spitzer’s paid-leave plan and lobby for all three measures. western account manager Ellen Mazen (Los Angeles) 323.370.2477 sales manager, classified print & online John Gallagher newsletter product manager LETTERS TO THE EDITOR Catherine Evans Gittens sales coordinator, print & online Lulé Haznedari sales coordinator Anita Perrino credit Pat Grondziak 313.446.6082 marketing manager Jill H. Bottomley Finally seeing the light on ferries circulation manager Andrea Richardson general manager, interactive AHA! MOMENT borough commuters clears away KEEP THE FUNKY GOOD IDEA Marc Minardo ON FERRY SERVICE years of indefensible thinking on IN THE HOOD FROM LONDON the part of city leaders. Ferries, like NEW YORK PRODUCTION production and pre-press director there is only one appropriate buses and trains, need some subsidy the les doesn’t need to look like congratulations to Crain’s on Michael Corsi response to Deputy Mayor Daniel to run at reasonable cost to users. (“Lower East your support of a Manhattan advertising production manager Doctoroff ’s statement, “It’s no Moreover, the focus needs to be Side an uppermost target,” June 4). congestion charge (“Yes on Marilyn DeMilta secret that every other mode of on service to Manhattan for the Has anyone asked residents what congestion pricing,” June 4). PUBLISHED BY CRAIN COMMUNICATIONS INC. mass transit requires subsidies” outer boroughs, not on bringing they feel about plans to remake I think it is a fantastic chairman Keith E. Crain (“NY opening way for ferries,” Jerseyites to the city to work. Bay their neighborhood? A small development. president Rance Crain May 28): Wow, finally. Ridge to lower Manhattan in 12 amount of change is OK, but too As a Londoner who has secretary Merrilee Crain The city’s new willingness to minutes anyone? much will destroy the character of recently moved to New York City, treasurer Mary Kay Crain commit to expanding and vincent j. gentile the area by sanitizing it. I appreciate the necessity of such a executive vp, operations William Morrow subsidizing ferry service for outer City Councilman sybil ward system and have seen the benefits senior vp, group publisher Gloria Scoby group vp, technology, circulation, of it first-hand. manufacturing Robert C. Adams ed grattan vice president/production & manufacturing David Kamis WHAT’S COMING UP IN CRAIN’S? chief information officer Paul Dalpiaz WRITE TO US corporate circulation director Patrick Sheposh Area’s largest Executive Annual Small Letters to the Editor: Crain’s New York Business, benefits pay Market Facts business 711 Third Ave., New York, NY 10017. Fax letters to founder G.D. Crain Jr. (1885-1973) consulting firms report issue report (212) 210-0799. Send e-mail to Crain’s staffers chairman Mrs. G.D. Crain Jr. (1911-1996) by using their first initial, their last name and June 18 June 25 July 2 July 9 @Crain.com. All letters are subject to publication, provided they are signed.

12 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 13 6/8/2007 11:27 AM Page 1

IT'S YOUR CHOICE PREVENTION TREATMENT ble and Encompass New Opera Theatre, as well as occasional pro- ductions at the Brooklyn Academy of Music. Most people aren’t so lucky. Looking at their aging patrons, most opera companies worry great- ly about where their new,young au- diences—and financial support— 50% OF PEOPLE WITH HEART DISEASE will come from. Music education HAVE NORMAL CHOLESTEROL LEVELS typically gets short shrift in public ON ROUTINE BLOOD TESTS schools, so most young adults have had no exposure to opera and fine singing. Could You Be at Risk? Organizations also struggle with how they can keep the art form WE CAN PREVENT HEART ATTACKS fresh and vital by introducing audi- ences to new work.Mr.Gelb’s inno- vations should help with both. THE NEW YORK CENTER FOR The most groundbreaking ven- THE PREVENTION OF HEART DISEASE ture has been the Met’s decision to 212-717-0666 www.thenyheartcenter.com broadcast live matinee performanc- es in theaters across North Ameri- ca, Europe and Japan. People have the opportunity to john h.john howard see the best in the world for as low as $15 a ticket. Next season, the met will broadcast eight productions ,up from six this first season. There are now 230 participating Bravo for opera’s theaters, a number that is likely to grow because most performances have been sold out, with an estimat- new innovator ed audience of more than half a mil- lion viewers. In the Scranton area, where hile checking out a winery recently near Mike and Marie attended, Mike Avignon, France, I bumped into Mike and says tickets must be ordered well in advance. And opera companies in Marie of Scranton,Pa.When they learned I cities with participating venues re- was vacationing from New York,they had an port an uptick in interest in their earnest favor to ask. Would I please shake own programs, according to the the hand of the Metropolitan Opera’s general manager, Peter Metropolitan Opera. W It is also doing its part to pro- Gelb, and thank him for Sirius Radio broadcasts of Met mote novel work. Among the six presentations this year was Tan productions and the live saw a live performance. Dun’s new work, The First Emperor. performances from the New Yorkers enjoy Marie was so intrigued by the Met shown in HD in such an abundance of broadcast that she traveled into the theaters near them—in opera options that it city to experience a performance of Dolby Digital 5.1 sur- may be difficult to the opera in person. round sound, no less? imagine not having Mike is a huge fan of the Sirius I understand the choices to suit every radio programming, which carries couple’s excitement. I taste and budget. up to four live performances a week grew up in Elmira, In addition to the during the season and airs archival N.Y., a long way from Metropolitan, there’s recordings the rest of the time. He the stage of the Met. City Opera, the Opera speaks passionately about the rela- My access to the high ALAIR Orchestra of New York, tive merits of current and former art of opera was limited TOWNSEND the Opera Company stars. to records and the Tex- of Brooklyn,the Regina Mr. Gelb has given the public a aco radio broadcasts Opera Company, New wonderful gift. On behalf of Mike, from the Met. The broadcasts were York Grand Opera Company, Am- Marie and youngsters in places like a lifeline, but it was years before I ato Opera,Riverside Opera Ensem- Elmira, I thank him.

CRAIN’S ONLINE POLL DO YOU SUPPORT PAID-LEAVE LEGISLATION IN NEW YORK? MOST OF THE 625 RESPONDENTS back legislation that would grant workers paid No, it could disrupt leave for up to 12 weeks to care for ill operations at Yes, it would help family members or newborns. Nearly small companies .38% workers 47% take half say it would benefit employees who . advantage couldn’t afford to take unpaid time off of federally Yes, it would be mandated under federal law, while 15% like the leave financed by 15% idea because workers would foot the workers, not . bill; 38% are against it. employers

For this week’s question: Go to www.NewYorkBusiness.com/poll to have your say.

June 11, 2007 | Crain’s New York Business | 13 CNYB 06-11-07 A 14 6/8/2007 1:54 PM Page 1

push for legislation to give it prior approval for health insurance rate hikes. But Albany insiders believe MTA CHIEF SPEAKS Project alert THE INSIDER the issue is dead for this session.The TENSIONS BETWEEN the Metropolitan Transportation Authority and the matter was not on a priority list at Bloomberg administration over two crucial projects are easing as top officials by Erik Engquist and Anne Michaud two recent meetings between work on compromises. health plans and department staff. MTA Chief Executive Elliot “Lee” Sander (below) told more than 350 executives at a Crain’s forum last week that the city and the MTA have deferred making a decision on who would pay for cost overruns to the No. 7 Greenhouse gas extension to the West Side until bids are received. Real estate group moves proposal imminent “The state of those discussions are in a very positive place, after some initial bumpiness,” Mr. Sander said. Bids on the $2 billion project are on 421-a legislation the state department of expected June 20, though one firm has asked for more time. Environmental Conservation’s Mr. Sander also softened his opposition to a proposed JFK Airport- he real estate board of New formal regional greenhouse gas downtown Manhattan rail link. Though he said the rail line would “not carry proposal will be released next York is trying to derail proposals the kind of ridership that an $8 billion investment should carry,” he added month. It will set the terms for an that it is not appropriate to kill the project. Instead, the MTA is studying that would dramatically overhaul auction of carbon emission T whether the line would be justifiable if it were connected to more subways, the city’s 421-a property tax abatement allowances that could generate program. Instead, REBNY is asking the $250 million or more annually. including the proposed Second Avenue line or if only parts were built. Essentially, power plants would buy On other issues, Mr. Sander: Legislature to grant most new apartment G allowances to match their ANNOUNCED NEW, one-ticket plans for 10 Giants and Jets football projects another year under the current contributions to global warming. games in 2009. Passengers on Metro-North, the Long Island Rail Road, program. Environmental groups are pushing a subways and city buses will be able to transfer to New Jersey Transit using a Projects needing special permits, Ulurp bill to channel auction revenue into single ticket for the Meadowlands Sports Complex. The pilot program is conservation efforts rather than into intended to signal that the system’s operations are approval or environmental remediation the “black hole” of the state’s becoming seamless. would continue to get automatic tax breaks general fund, one advocate says. G SAID THE MTA IS also studying a call center, except in Manhattan’s exclusion zone, where The bill has majority-party similar to the city’s 311 service, that would

daily news daily builders must set aside 20% of their units for sponsors in both houses. provide information for customers of all seven of its agencies. affordable housing to qualify for the tax G EXPECTS TO ANNOUNCE by mid-July break. Projects with foundation permits Dems break ranks plans to close the MTA’s projected would get a six-month extension under on schools budget deficits and whether fare the current 421-a. increases will be needed. Mr. Sander democrats for Education Reform said the agency faces an $800 million The group is unhappy with the 421-a bill passed will try to broaden support for gap in 2008, $1.5 billion in 2009 and $1.8 charter schools, tax credits for billion in 2010. by the City Council, which expand- isn’t passed by year-end. private tuition and other ideas. ed the exclusion zone and limited The group, backed primarily by Go to newyorkbusiness.com, click on video to view excerpts of the forum.

the tax break. It opposes a plan by Wall Street executives, held a M

Assembly Housing Committee Prior approval launch party last week and has buck ennis Chair Vito Lopez (above) to require dead for now organized fund-raisers for affordable housing in all 421-a Brooklyn Democratic boss Vito events are planned for leaders in $100 fines, which hasn’t worked. projects. the state department of Lopez and Senate Democratic Queens and the Bronx. Councilman Michael McMahon has The program will lapse if a bill Insurance says it is continuing to Leader Malcolm Smith. Similar “Parents in Hunts Point and introduced a bill to raise the fine to East New York can’t go to big- $1,000 and allow seizure of ticket fund-raising luncheons and offending vehicles. ask local, state and national Mr. McMahon was moved to politicians hard questions about act by the Uniformed Sanitationmen’s education politics,” says DER Association, whose membership lobbyist Michael Tobman. “We can, ranks depend on how much and we will.” garbage they collect. B’klyn party hangs Arts funding helps on surrogate budget process in a highly unusual move, the insiders predict that the City Brooklyn Democratic Party won’t Council will adopt a budget before endorse a candidate in the the June 30 deadline, partly because contentious Surrogate Court judge the new process for doling out race, insiders say. County leader money for cultural institutions is Vito Lopez says he’s personally going smoothly. backing Civil Court Judge This year the council has ShawnDya Simpson. But the handed funding decisions over to a organization’s screening committee peer-review panel. Smaller doesn’t have time to interview all organizations are expected to the candidates, a prerequisite for a benefit, as are those outside of the county endorsement. Cultural Institutions Group, whose A contingent of African- members receive part of their American leaders is behind operating funds from the city. CIG Supreme Court Justice Diana members are expected to receive Johnson. Robert Miller has dropped the same level of funding they did out. Leo Beitner is also running. last year. I Ms. Simpson or Ms. Johnson would be the first black surrogate in New York state history. Harsher fines for trash pilferers since october, private, out-of- state vans have been increasingly stealing recyclables before city

trucks can collect them, according ap images to Department of Sanitation CHAMBER MADE: New cultural funding officials.The agency can only levy protocol is helping the budget process.

14 | Crain’s New York Business | June 11, 2007 Project2 6/6/07 1:23 PM Page 1 CNYB 06-11-07 A 16 6/8/2007 11:29 AM Page 1

WEEK IN REVIEW

ECONOMIC SPOTLIGHT and other premier sports events. Warner Music signs with Lala warner music group signed a deal with startup Lala.com to offer most of its music for free through streaming audio. Lala.com will pay a fee to Warner each time a user listens to a song. Customers will not be able to download songs. Pepsi stake pepsico inc. and its largest bottler, PepsiAmericas Inc., agreed to pay $542 million for an 80% stake in Ukrainian juice maker Sandora. Murdoch meets Bancroft clan The American companies plan to buy Sandora’s remaining stake by MEMBERS OF THE BANCROFT FAMILY, which owns a November. controlling interest in Dow Jones & Co., sat down for the first time with News Corp.’s RUPERT MURDOCH (center), who is Same-sex unions offering $5 billion to buy the company. The two sides would boost NYC discussed arrangements to preserve editorial integrity of The Wall Street Journal. No agreement was reached, but the two legalizing same-sex marriage in New York state would generate Economy Watch sides agreed to keep talking. Separately, the union $142 million in economic benefits April marked the ninth straight month in which New York City’s jobless representing Dow Jones employees launched a campaign for the city, according to a study by rate was below 5%. The city has added 70,700 jobs since December 2005. aimed at producing a rival bid. Billionaire investor RON city Comptroller William Thompson. MARCH ’07 APRIL ’07 COMPARISON BURKLE and Inquirer owner BRIAN TIERNEY have NYC jobless rate 4.3% 4.4% 4.5%1 expressed interest. Hearst content 2 NYC employment change +100 -700 +22,600 ap images NY area inflation change +0.5% 3 hearst-argyle television inc. +0.7% +2.5% Battery Park as part of a larger signed a revenue-sharing deal with 1-U.S. unemployment rate. 2-Change since December 2006. 3-Inflation rate for the latest LIRR names first redevelopment plan for the area. Google Inc. and its YouTube unit 12-month period. woman president The project, the first of its kind for to distribute television content. Mr. Gehry, includes a restoration Hearst-Argyle, which owns ABC, NYC Hotel Stats Broadway’s New Record the long island rail road of Castle Clinton, a town green NBC and CBS affiliates, will post named Helena Williams president, and a bike route connecting the local video content on dedicated Average room rates and occupancy Attendance and box-office grosses making her the first woman to east and west sides of Manhattan. YouTube channels. levels rose again in March, PKF dropped in the week ended 6/3— hold the commuter railroad’s top Consulting data show. The averages right after Broadway posted record position. Ms. Williams will take for the year to date were $258.97 ticket revenues for the season ended over the LIRR on June 18 from Philharmonic Rite-Aid to sell and 82.0%, topping year-earlier 5/27. The figures for attendance and acting president Raymond Kenny. levels of $228.98 and 81.0%. gross edged out year-earlier levels. gets sponsor eight NY stores She will focus on customer safety and service reliability. credit suisse will be the exclusive rite aid corp. agreed to sell 26 global sponsor of the New York stores, including eight in New Philharmonic. A three-year deal, York state, to settle a multistate Loews, XTO buy valued at between $1.5 million and antitrust investigation led by New offshore stake $2 million, starts Sept. 1. York state Attorney General Andrew Cuomo.The settlement loews corp., the cleared the way for Rite Aid to conglomerate Topps sued complete its acquisition of Brooks run by New by rival firm Eckerd. York’s Tisch family and CEO topps co. was sued by rival Upper NYC business taxes James Tisch Deck Co., which is trying to halt a (right), and June 28 shareholder vote on Topps’ business taxes in New York City

XTO Energy bloomberg news impending sale to a private equity are much higher than those in Inc. agreed to buy the majority of group led by Michael Eisner. other major metropolitan areas, Capital IQ’s Weekly Deals Report Dominion Resource Inc.’s Upper Deck accused the baseball with an average effective tax rate offshore oil and gas business for card and bubble gum maker of of 7.5%, according to a study by TRANSACTION SIZE COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE $6.5 billion.The deal includes breaching a confidentiality the Citizens Budget Commission. reserves equaling 3.5 trillion cubic agreement signed by the two The study praises efforts by city BGC Partners $1,220.0 eSpeed Inc. SB M&A Manhattan feet of primarily natural gas. companies. A hearing is scheduled and state officials to cut taxes, but for Monday. calls for a commission to study the Bradley Pharmaceuticals Inc. $418.0 One Equity Partners, SB M&A Fairfield, N.J. Credit Suisse Securities (USA) Citigroup fine matter further. Bioenvision Inc. $345.0 Genzyme Corp. SB M&A CBS buys stake —from staff reports and Manhattan citigroup inc. agreed to pay $15.2 bloomberg news reports Gizmoz Inc. $6.3 Columbia Capital, GCI million in fines and restitution to cbs corp. invested in Manhattan Benchmark Capital settle charges by NASD that it TicketReserve, an TAXES tower AXS-One Inc. $5.0 Blueline Partners GCI used misleading documents in online marketplace for above those in Rutherford, N.J. retirement seminars for 200-plus hard-to-get sports other cities. TransTech Services Partners Inc. $1.4 Not disclosed GCI employees of BellSouth Corp. game tickets. The Manhattan Web site of - TraceGuard Technologies Inc. $0.5 Not disclosed GCI based TicketReserve Manhattan Gehry to design allows users to buy Selected deals announced during the week of May 27 for companies headquartered in metro New and trade the rights to York. GCI: Growth capital investment represents new money invested in a company for a minori- NYC playground ty stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing obtain at face value shares of a company without the participation of a financial buyer. renowned architect Frank tickets for the World bekka lindström bekka Gehry will design a playground at Series, istockphoto

16 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 17 6/7/2007 7:16 PM Page 1

THE WEEKS AHEAD

THIS WEEK’S EVENTS 7:00 p.m. to 10:00 p.m., Chiam Chinese running a healthy business. 7:45 a.m. to Deutsche Bank, 60 Wall St. Fee: $10 Empire State Development Corp. JUNE 12 Cuisine, 160 E. 48th St. Fee: $70. 10:00 a.m., Club 101, 101 Park Ave. members, $25 nonmembers. downstate chairman. 8:00 a.m. to 9:45 Action Coach New York holds (718) 512-2610 or Free. (212) 315-7024 or (212) 982-7371 or a.m., Mandarin Oriental New York, workshop on accelerating business [email protected]. [email protected]. [email protected]. 80 Columbus Circle, Ballroom. Fee: $60 growth. 6:00 p.m. to 7:00 p.m., JUNE 15 JUNE 19 members, $80 nonmembers. 989 Sixth Ave., fourth floor. Free. CenterPoint Solution holds seminar on JUNE 18-24 Crain’s New York Business holds (212) 481-9230. (646) 862-1710 or reducing stress at work. 8:00 a.m. to JUNE 18 economic forecast breakfast. 8:00 a.m. to JUNE 22 www.actioncoachnyc.com. 10:00 a.m., Microsoft Office, 1290 Sixth New York Society of Security Analysts 9:30 a.m., Waldorf-Astoria, 301 Park Pace University’s Small Business JUNE 12 Ave., sixth floor. Free. (973) 325-0307 or holds program on liability-driven Ave. Fee: $60. (212) 210-0739 or Development Center holds workshop Camba Small Business Services holds [email protected]. investing: from theory to action. 5:30 www.newyorkbusiness.com. on QuickBooks and basic bookkeeping. workshop on credit repair and money JUNE 15 p.m. to 8:00 p.m., 1177 Sixth Ave., JUNE 19 9:00 a.m. to 5:00 p.m., 1 Pace Plaza, management. 10:00 a.m. to 4:00 p.m., Invision holds seminar on building a second floor. Fee: $50 members, $75 Bedford Stuyvesant Restoration Corp. room W-404. Fee: $149. 884 Flatbush Ave., second floor, portal solution. 8:30 a.m. to 11:00 a.m., nonmembers. (646) 871-3405 or holds seminar on understanding the (212) 618-6655 or [email protected]. Brooklyn. Free. (718) 282-2500, ext. 242 Microsoft, 1290 Sixth Ave., sixth floor. [email protected]. mortgage process. 6:00 p.m. to 8:30 —adrianne pasquarelli or [email protected]. Free. (631) 543-1000. JUNE 19 p.m., 1368 Fulton St., Brooklyn. Free. JUNE 12 JUNE 16 American Society of Training & (718) 636-6924. More meetings online at Mastermind Business Alliance holds 1010 WINS, Aetna Small Business Development, metro New York chapter, JUNE 19 www.newyorkbusiness.com seminar on running a business. 6:15 p.m. Solutions and Manhattan Chamber of holds meeting on the relevance of New York Building Congress holds Click on “Events” to 8:00 p.m., 352 Seventh Ave., Commerce hold breakfast program on training. 5:30 p.m. to 8:00 p.m., breakfast forum with Patrick Foye, 16th floor. Free. Registration required. (212) 564-7584 or www.themba-group.com. JUNE 12-JULY 10 New York Designs, a program of CUNY, holds course on business planning for designers and artists. Tuesdays, 6:00 p.m. to 9:00 p.m., LaGuardia Community College, 45-50 30th St., seventh floor, Long Island City, Queens. Fee: $160. (718) 663-8403. JUNE 13 SJF Ventures holds conference on clean technology companies in mainstream markets. 8:00 a.m. to 1:00 p.m., Deutsche Bank, 60 Wall St. Fee: $125. Registration required. (919) 530-1177 or www.sjfund.com. JUNE 13 New York Public Library’s Science, Industry and Business Library holds workshop on marketing a business on and off the Web. 5:30 p.m. to 7:00 p.m., 188 Madison Ave., room 018. Free. (212) 592-7000. JUNE 13 International Federation of Business, Manhattan chapter, and Professional Women of New York hold networking reception and program on creating a buzz for your business. 5:30 p.m. to 7:30 p.m., Architects & Designers Building, 150 E. 58th St., 22nd floor. Fee: free for members, $5 nonmembers. (212) 299-5749 or [email protected]. JUNE 13 Score NYC holds seminar on e- commerce for small businesses. 2:00 p.m. to 5:00 p.m., American Management Association, 1601 Broadway, eighth floor. Fee: $40 in advance, $50 at door. (212) 264-4507 or [email protected]. JUNE 13 U.S. Chamber of Commerce, Citigroup Oxford. Health care coverage that comes fully loaded. What sets and the Partnership for Lebanon hold networking reception and program on an Oxford product apart from the ordinary are the little extras – as well as the big extras. business opportunities in Lebanon. 5:30 p.m. to 7:30 p.m., Citigroup, Starting with the large number of plan designs we offer to help meet the needs of your 388 Greenwich St., 35th floor, TriBeCa business. And our localized customer service. You’ll notice our strong relationships Room. Free. (212) 233-3010 or [email protected]. with local physicians and hospitals, in addition to a renowned national network. We JUNE 14 have an intelligent approach to medical management that helps keep our members New York Software Industry Association holds seminar on digital healthy, while also helping to keep costs down. There’s also our popular and practical media. 6:00 p.m. to 8:00 p.m., 55 Broad St., 10th floor. Fee: free for all with wellness programs, where our members get extras like discounts on gym memberships. advance registration; $5 at door for At UnitedHealthcare, we’re proud to be able to offer Oxford products to you. nonmembers. (212) 475-4503. JUNE 14 Chinese American Real Estate To find out more about what makes Oxford right for your business, call your broker. Association holds networking reception. Or call 800-642-6877, or go to uhctoday.com/oxfordhealth.

TO LIST YOUR EVENT

Crain’s lists business meetings online and includes them in the print edition on a space-available basis. Events in New York City with admission fees of less than $300 are considered for the print publication. Listings can be submitted only through the Crain’s Web site. To submit a calendar listing, go to www.newyorkbusiness.com and click on “Events.” Sponsors have a choice of several free or paid list- ing options. All business events will be posted online within two business days. © 2006 United HealthCare Services, Inc. Insurance coverage provided by or through United HealthCare Insurance Company of New York. Oxford’s HMO products are underwritten by Oxford Health Plans (NY), Inc., Crain’s can neither confirm receipt of listings nor say Oxford Health Plans (NJ), Inc. and Oxford Health Plans (CT), Inc. and Oxford’s insurance products are underwritten by Oxford Health Insurance, Inc. if or when event listings will appear in the print edition.

June 11, 2007 | Crain’s New York Business | 17 CNYB 06-11-07 A 18 6/7/2007 6:16 PM Page 1

NEIGHBORHOOD JOURNAL Plaza in, car park out in Dumbo

government. No wonder, then, that descript plot, currently used for hope it will also spur Brooklyn site will the city Department of Transporta- parking, will be cleared and repopu- more foot traffic be- host markets, parties; tion’s plan to create a modest pedes- lated with folding chairs and tables, tween the two halves of trian plaza on a 5,000-square-foot plantings and other amenities. the neighborhood and housing rises near triangle of land is being hailed as a “In the heart of the neighbor- become part of a “green- Yankee Stadium breakthrough by local advocates. hood,there’s no space like this,”says way” between Dumbo’s The plaza will open later this Tucker Reed, executive director of lone subway station (the n its long and largely suc- month along Pearl Street, between the Dumbo Improvement District. F train stop at York MORE GREENERY: A rendering of the new space in Dumbo. cessful shift from gritty in- Water and Front streets, roughly at “We’re really excited about creating Street) and Brooklyn dustrial area to up-and-com- the border between the eastern and a town center.” Bridge Park along the ing office and residential western halves of Dumbo, which Backers say the plaza will host East River. Mr. Reed’s BID will Reed’s invitation to Pratt Institute community, Dumbo has re- stands for Down Under the Man- public markets, concerts, block par- maintain the new plaza space. graduate students to reinvent dead Iceived little investment from the hattan Bridge Overpass. The non- ties and other special events. They The project grew out of Mr. spaces in Dumbo. Manuel Mansyl- la, an architect from Guatemala and an intern at the Dumbo BID, came up with the idea for the plaza, and DOT agreed to try it. Though much improved, the neighborhood remains largely in- dustrial. Its population is just 4,000, though that will grow by 50% when two large apartment projects under construction are finished in the next year or so. Mr. Reed believes that the new plaza—officially a pilot project—will inspire larger public investments. —erik engquist Mott Haven gains apartments the new yankee stadium is not the only big project rising around the Mott Haven section of the Bronx these days. Early this month, Borough President Adolfo Carrión cut the ribbon on a new 120-unit af- fordable-housing apartment build- ing on East 152nd Street. The 129,000-square-foot build- ing, known as the Abeken Apart- ments, is the first affordable-hous- ing project in the area for Rockland County-based developer Bergstol Enterprises Inc. But the apartment block, which was built on the for- mer site of several manufacturing plants, won’t be the last.The devel- oper is eyeing an abandoned gas sta- tion on nearby East 149th Street as the site for its next project: a 350,000-square-foot mixed-use development. The development is still in the approval process with the city, but initial plans call for 139 affordable- housing units, about 230 affordable co-op units, approximately 40,000 square feet of retail and 20,000 square feet of community service space. The company hopes to break ground “as soon as possible,”accord- ing to Bruce Katona, director of de- velopment for Bergstol Enterpris- es/Abeken Management. “We were attracted to Mott Haven specifically,and the Bronx in general,because the market is head- ing in the right direction,” he says. Mott Haven has long been one of the poorest areas in the borough, with a poverty rate at nearly 47%,ac- cording to a 2006 report by NYU’s MAKING A CASE FOR TEAMWORK. Ellen L. Shapiro One Chase Manhattan Plaza, 35th Floor Furman Center for Real Estate and Urban Policy. New York, NY 10005-1417 “Mott Haven is a prime example T 212.440.4400 F 212.440.4401 of a district that has not enjoyed the many gains the city has seen over CALIFORNIA :: DELAWARE :: FLORIDA :: NEW JERSEY :: NEW YORK :: PENNSYLVANIA :: VIRGINIA :: WASHINGTON, DC the past decade,” the Furman study concludes. —hilary potkewitz

18 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 19 6/7/2007 2:19 PM Page 1

SMALL BUSINESS INSIDE Importers of novel spirits aim to raise a glass to fortune PAGE 26 “We thought being green would be our strongest selling point, but it’s not.” —Miguel Zabludovsky, Slate NYC laundry and dry cleaner, Page 27

Cork flooring gets new bounce Globus uses Web to gain customers across nation; tiles in dozens of hues

Elizabeth Kennick Page 22 Johanna Spoerri Page 22 Sue Fishkin Page 22 BY VICTORIA RIVKIN

many high-end flooring stores sell tiles made of every- thing from Carrara marble to Portuguese ceramics, and that’s B&Bs become inn thing the problem. Competition is intense. No wonder Kenneth Bol- Brooklyn homeowners become hoteliers to seize on tourist boom lella was so excited when he discovered a BY WENDY DAVIS different kind of flooring ma- GREENING with a shuttered pizza parlor, a supersized Popeyes chicken outlet and a NEW YORK terial, one that also offered handful of tiny local shops, the retail landscape near the intersection of Fulton A series about big ecological environmentally Street and Franklin Avenue in Bedford-Stuyvesant seems an unlikely locale for a conscious benefits—tiles bed-and-breakfast. companies made from cork. But don’t tell that to Paul DiMartino and his wife, Nancye Good.They Grown primarily in Portu- rechristened their three-story brownstone just around the corner at 15 Spencer gal and Spain,the cork oak tree Place last year. Spencer Place Bed and Breakfast boasts three rooms, continental is not damaged in the process of peeling off its bark, making breakfasts and rates as high as $125 a night.” center of a thriving gaggle of businesses. it a classic renewable natural “There really aren’t any hotel options around Once largely associated with small towns in resource. here,” Mr. DiMartino says. quaint places like New England, beds-and- Mr. Bollella was so im- He is one of over a dozen Brooklyn entrepre- breakfasts today are appearing in urban areas pressed that six years ago he neurs who have converted all or part of their throughout the United States as alternatives to opened a factory in the Bronx to homes to B&Bs in recent years in an effort to pricey and impersonal hotels. And with 44 mil- manufacture cork tiles. When cash in on the wave of tourists and business trav- lion tourists flocking to New York City last the terrorist attacks of Sept. 11 elers flooding the city. Most do it to add a sec- year—up from 36 million in 2000, according to ruined his 11-year-old down- ond income or improve their standard of living official statistics—it figures that some of that town flooring store, he focused in retirement. But at least one veteran B&B crowd would fan out into the boroughs. Brook- Nancye Good, Paul DiMartino all his energy on his new ven- owner has managed to parlay her inn into the Continued on Page 22 Page 23

See CORK on Page 20 photos: buck ennis

GetGet thethe CreditCredit YourYour BusinessBusiness DeservesDeserves

I Local Loans by Local People I Quick Leasing Decisions I No Financial Statements for Loans Under $100,000

Find out how Commerce can help your business grow. Call Greg Braca at 1-888-751-9000 or visit your local store.

Member FDIC

June 11, 2007 | Crain’s New York Business | 19 CNYB 06-11-07 A 20 6/7/2007 2:27 PM Page 1

REPORT SMALL BUSINESS IN A NUTSHELL thing from the history of cork (be- FOUNDED 2001 ginning with the Egyptians 3,000 Cork flooring gets new bounce years ago), to cork harvesting (once EMPLOYEES every nine years from trees that live 12 full-time Continued from Page 19 New York the market for a new more equipment and hired two for 200 years or more),to its process- TILE SIZES 20, ture, dubbed Globus Cork. green product like cork was just too more full-time employees. ing by Globus (using “pigments, plus custom While cork has been used for small. “Because we have a small To help put Globus Cork on the varnishes and adhesives that … are MOST POPULAR COLORS flooring and wall coverings for company,we found that the Internet U.S. map in 2001, Mr. Bollella water-based, solvent-free and have decades, Mr. Bollella brought three is the only way to achieve a nation- signed on consultant Jennifer Bis- no volatile organic compounds”). Whitewashed, red mahogany and new ingredients to the party: the wide reach.” coe as marketing director and his Since launching the site in June sable (gray-brown) idea of billing cork as a green prod- first employee. Working on a shoe- 2001, Ms. Biscoe has spent much of PRICE $7 to $8 per square foot uct, the concept of expanding its Making changes string budget,the duo created a Web her time—and budget—making for average home product market by offering it not just in ba- the strategy worked. Last year, site geared to both designers and sure that Globus appears high up in MARKET 65% homeowners, sic brown but in 37 colors,and a plan Globus’ revenue soared 40% to homeowners. searches for green flooring. Since 35% trade to sell it over the Internet. nearly $1 million. In response, Mr. Mr. Bollella’s goal was to keep few companies work with cork, and “I had no other choice,” says Mr. Bollella doubled the size of his fac- the site simple,and to use embedded even fewer with cork tiles that come Bollella,who concluded that even in tory to 5,000 square feet,invested in links to offer information on every- in different colors and sizes, that task is relatively easy. Mr. Bollella also reached out to architects he knew through a previ- ous business and started attending trade shows.As orders began to come in, he started advertising in national design and architecture magazines. But the Internet has remained the fo- cus of Globus’ marketing. “The Internet opened up the whole country to me,” says Mr. Bollella. His focus has paid off. Shortly after www.corkfloor.com was launched, it won an award for best Web site design from Floor- Biz.com. And in the past few years, Globus Cork has been getting a lot of notice. Its products have received a mention in a Washington Post arti- cle and a Most Valuable Building Product Award from Hanley-Wood publications, and a Globus floor ap- peared on the cover of General Electric’s 2007 appliance catalog. It is no longer just the hard-core envi- ronmentalists who are taking a sec- ond look. In favor of cork “the only method I have used to do research in the past five years is the Internet,”says Matthew Arnold, an architect in Virginia, who found Globus Cork on the Web and has redone his own kitchen floor as well as his clients’ with the company’s products. “I don’t waste my time with catalogs, and I can find any information I need day or night,”he says.“I’m a big advocate of cork. It’s a sustainable resource, it performs well and it looks good.” In less than six years, Globus has captured a national audience via the Internet. Sales are especially strong in California, Chicago and , all areas that have instituted green initiatives that encourage the use of environmentally sensitive products. Ironically, success in the firm’s home market, New York City, is a more recent phenomenon. Here, it was spurred by the recent passage of Local Law 86, which requires building projects to achieve a LEED rating. That law came almost a decade after Mr. Bollella began experi- menting with cork tiles in different colors and sizes, using environmen- tally friendly solvents and dyes. Unbridled optimism is a powerful asset to every small business owner.Visa Business BUSINESS “He was ahead of the curve,”says can not only help you reach your lofty goals, but surpass them. For more information Adam Friedman, executive director TAKES of the New York Industrial Reten- about our smart, simple and secure payment options, go to Visa.com/smallbusiness. tion Network. “He has positioned himself well to capitalize on this ©2007 Visa U.S.A. Inc. emerging market.”

COMMENTS? [email protected]

20 | Crain’s New York Business | June 11, 2007 Project2 3/19/07 10:49 AM Page 1

My son graduated from Harvard. Now he’s a GHI doctor.

And he’s an integral part of a health plan that’s bringing quality insurance coverage to New York companies. More than half of New York Magazine’s “Best Doctors” are GHI physicians and are affiliated with the best hospitals in New York. With over 140,000 provider locations ready to serve your needs, why not call 1-800-COVERAGE or visit us at ghi.com for more information.

Specializing in Great Doctors

75315r1_01_GHI90 CreativeA_v4.in1 1 3/16/07 11:56:16 AM CNYB 06-11-07 A 22 6/7/2007 2:30 PM Page 1

REPORT SMALL BUSINESS

Continued from Page 19 card, she stepped up her marketing ri.“The guests were just furious with lyn, with its vast stock of handsome ESCAPE GUEST efforts. She paid a few hundred dol- UNION STREET BED me and wrote this nasty review.” 19th Century homes and interna- HOUSE lars to join an online directory serv- AND BREAKFAST Ms. Spoerri and her husband, tional reputation, leads the pack. ice, printed up business cards and Robert Turner, have part-time help “There’s definitely a market for 168 Bergen St., even postcards,and listed her inn on 405 Union St., but no full-time staff. Keeping up Cobble Hill B&Bs,” says Lalia Rach, associate Google Maps. Carroll Gardens with the laundry and cleaning for a dean and director of the Tisch Cen- OPENED 2006 ROOMS 5 The response was so good that at OPENED 2004 six-room inn with as many 15 guests ter for Hospitality, Tourism and the end of November she quit her can be daunting. And it can be ex- JULY RATES $150 single, $200 ROOMS 6 Sports Management at New York double job. In March, she expanded to five pensive.Laundry bills alone come to JULY RATES $100 single, $165 University. “Some people are look- BEST THING ABOUT RUNNING A rooms after her remaining tenants around $2,000 a year. Breakfast to- ing for something more personal, B&B It’s mine. I answer to moved out. Recently, her daughter double tals at least $200 a week, while cable smaller, more intimate—an experi- nobody except myself. came on board full-time to help. BEST THING ABOUT RUNNING A TV and electricity bills add another ence closer to home.” couple hundred dollars each week. HARDEST THING ABOUT B&B Absolutely fascinating RUNNING A B&B Having to get guests. up every single morning and pick Daunting tasks HARDEST THING ABOUT RUN- up breakfast. Empty nest: Online directory are no obstacle NING A B&B Some people who brings in guests HIGHEST MOMENT Listening to stay here and want us to be more perfect setting our guests, a Dutch band, unning a b&b is a demand- luxurious and have private bath- or many people, retirement practice in the morning. ing business, seven days a rooms and cooked breakfasts. aving the children go off is financially little short of LOWEST MOMENT Going into Rweek, 24 hours a day. Johan- HIGHEST MOMENT Paying my to college can be traumatic suicidal. That thought was January without a single na Spoerri knows that better than for many parents. For Sue F bills. H much on Elizabeth Kennick’s mind reservation. January and February most. She managed her mother’s Fishkin, the experience was hard, as she contemplated leaving her job were bad. B&B,Angelique,before taking over LOWEST MOMENT Reading but it was also an opportunity. in the tech department of a Wall the place three years ago and re- horrible reviews when we’re trying Shortly after their two eldest Street firm last year. launching it as the Union Street Bed our best. children left home, she and her hus- Then she read a newspaper article opened for business—all for a total and Breakfast. band, Michael Hurwitz, spent that pointed out that Brooklyn had up-front investment, including ad- Even with all of her experience, $10,000 on new beds and linens, just a handful of hotels—not nearly vertising, of around $17,000. Ms.Spoerri admits it can be difficult pectations can be disastrous, espe- flat-screen TVs, DVD players and enough to accommodate the growing “It seemed like a good thing to to keep up with her endless stream cially in an era when many Web sites area rugs (which alone cost $1,000 number of visitors to the borough. try,” she says. of guests. give guests the opportunity to rate each) and converted their children’s Bingo. Ms. Kennick quickly Or maybe not. At first, the going “God forbid that the hallways are their B&B experience for all the rooms into guest quarters for Rugby seized her opportunity, converting was rocky: Absolutely no one con- a tad dusty,”she says.“People can get world to see. Gardens Bed and Breakfast. the three extra rooms in her duplex tacted her. very upset.” The Union Street B&B suffered “We thought it would be a good into a bed-and-breakfast. In Au- “It took me two weeks to say, Many B&B guests arrive with just such a blow recently,when serv- way to get some extra income,” says gust,she bought some new bedroom ‘This isn’t working,’ ” she recalls. high expectations about personal ice levels did fall.“I was sick,and my Ms. Fishkin, adding that she knew furniture, created a Web site and Rather than throw in the room rate service.Failure to live up to those ex- husband was sick,” says Ms. Spoer- several other people in the neigh-

WaMu® Small Business Banking As a business owner, you’ll appreciate this: we’re running a promotion.

Sign up today for Free Business Checking and become eligible for a rate bonus on a WaMu® Business Money Market account. Take advantage now, while this deal is greater than great. To learn more, talk to one of our Small Business Specialists at a WaMu near you, call 1-800-374-4646 or log onto wamu.com.

Business Money Market

Up to % 4.75 interest rate with rate bonus For balances of $50,000 - $99,999 See details below

Business Money Market interest rate bonus of 1.86% is available when you open a Free Business Checking account with an initial balance of $1000 with a Business Debit MasterCard® or already have both at the time you open your Business Money Market account. Once your Business Money Market account is opened with $10,000 not presently with Washington Mutual, the rate bonus is locked in for the fi rst three months (90 days) for balances of $10,000 and above. The Business Money Market interest rate as of 5/29/07 for balances of $50,000 - $99,999 is 4.75% with rate bonus, 2.89% without rate bonus. Ask Financial Center or call 1-800-374-4646 for current tiers/rates. At the end of 90 days and on any day that the daily ending collected balance is less than $10,000, the standard applicable base interest rate will apply to your Business Money Market with no rate bonus. Base interest rates are variable, may change daily at our discretion and are not set for the 90-day rate bonus period.Offer available only at our Financial Centers, not over the phone or the Internet. Minimum balance to open Free Business Checking is $100. Minimum balance to open Business Money Market is $1000. Certain restrictions apply. Offer available for a limited time and is subject to change. Access to funds is subject to funds availability and transaction limits. Enrollment required for Business Online Banking and Business Bill Pay. Available in CA, FL, NY, NJ, CT, OR, TX and WA. Deposits at Washington Mutual are FDIC Insured.

22 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 23 6/7/2007 2:34 PM Page 1

REPORT Nestlé found the perfect coffee mate. bekka lindström bekka

borhood who had B&Bs. family members who are visiting To get the inn on tourists’ radar, area residents,and tourists from Eu- she took all the usual steps. She got rope. Next, the couple wants to tar- an online listing and dropped busi- get Japan, a market that both know ness cards off at neighborhood well,having spent five years produc- restaurants in return for posting ing their weekly TV show,Astonishing their menus on her bulletin board. News. She also scoured the Web, look- Mr. DiMartino says his goal is ing for opportunities to tout the 50% occupancy year-round, which inn. Recently, for example, she would translate to around $1,050 a managed to get Rugby Gardens week in revenue. Last year, some listed in the online directory of weeks saw more than 50% occupan- cy,but January and February the inn was nearly empty, he says. RUGBY GARDENS To make their revenue go further, 317 Rugby Road, the duo does all of the work them- Ditmas Park selves. “We clean the rooms and the kitchen and put the breakfast out OPENED 2006 every morning,” Mr. DiMartino “While we considered several potential locations for our new facility, ROOMS 2 JULY RATE $150 says. Like many B&B owners, the Anderson, Ind., was an obvious choice for Nestlé. From the very BEST THING ABOUT RUNNING A couple doesn’t have a license to cook beginning, it was evident to us that Indiana is a very business-friendly for guests, so they buy fruits, cereals, B&B The guests. state. Its central location and established transportation infrastructure pastries and coffee. HARDEST THING ABOUT Visitors come via the inn’s Web will be great assets for our distribution center. Also, we were pleased RUNNING A B&B Always having page and through online directory with Indiana’s talented and diverse workforce.” to make up the rooms is a pain. BedandBreakfast.com. Many fire —Rob Case, President, Beverage Division, Nestlé USA HIGHEST MOMENT Formed off a few questions about the inn close friendship with a couple and the neighborhood by e-mail be- fore booking. Despite that ground- of guests from North Carolina. work, many visitors arrive unpre- LOWEST MOMENT None. pared for the grittiness of Bedford- Stuyvesant. “We’re not Park Slope here,” he lodgings for the Brooklyn Interna- says. “But usually by the time they tional Film Festival. “There’s a lot leave—whatever fear they had— of free advertising available in the they’ve gotten over it.” world,” she says. One of Ms. Fishkin’s biggest ex- COMMENTS? [email protected] penses is the cleaner who comes in on Tuesday each week.But she is al- ready thinking about upping that SPENCER PLACE BED schedule. “We’re a lot busier than I AND BREAKFAST thought we would be,” she says. 15 Spencer Place, Ms. Fishkin devotes most of her Bedford-Stuyvesant time to running her B&B. The in- come is welcome, but the couple OPENED 2006 still relies mostly on Mr. Hur- ROOMS 3 witz’s income as a criminal defense lawyer. JULY RATES $75 single, $125 double BEST THING ABOUT RUNNING A Couple’s big plans B&B Being able to cut back on our home-based TV production include Japan business. fter paul dimartino and HARDEST THING ABOUT his wife, Nancye Good, re- RUNNING A B&B Having to be Acently stopped producing a here. We don’t always know what television program that aired in time guests are coming. Some- Japan,they knew they needed an in- times we feel stuck. come stream to fill the gap. Inspired HIGHEST MOMENT Getting the by friends who own a bed-and- occupancy level over 50% some breakfast, last year the couple con- months. verted the third floor of their brownstone—previously a home LOWEST MOMENT February, office—into a three-bedroom inn. when we were empty. The couple’s guests are a mix of www.iedc.in.gov CNYB 06-11-07 A 24 6/7/2007 2:37 PM Page 1

REPORT

HOW-TO

HELPING HANDS: Mushi Bhuiyan of GETTING BAD RESUMES Synesis IT says matching assignments with FROM THE OTHER GUYS? skills is critical. (There’s a use for them after all.)

Get the quality New York candidates you really want from CareerBuilder.com.

CareerBuilder.com not only results in 10 times more applicants than comparable recruiting resources*, it also has the outstanding performers you need. And no other source brings you more New York results. When you’re ready to find the perfect candidate, you’re ready for CareerBuilder.com. To place an ad today, call 1-877-Fill-A-Job or visit www.hiring.careerbuilder.com/nyc. buck ennis Tips for making

Qualifi ed Talent Pool Most Extensive Reach Value Delivered internships work *Source: NewOffice.com. business accounting software. Summer programs He has since changed his ap- pay big dividends; proach to interns and last summer RightRight where where YourYour SmallSmall BusinessBusiness needsneeds us.us. put 10 of them to work on public re- small firms face lations, marketing, event coordina- tough competition tion and database management. “These were reasonable skill sets for students, so the program was a BY TINA TRASTER great success,” Mr. Bhuiyan says. Interns provide businesses with ive years ago, Mushi energetic help at low or no cost. Bhuiyan hired college These ambitious, enthusiastic, interns to help out with readily available workers can be har- some computer program- nessed for all sorts of tasks and as- ming. It was a disaster. signments. Just as important, an in- Growing a business takes hard work – and a bank that works with you. F“The learning curve for that kind ternship program can be a way for a North Fork Bank has the solutions Your Small Business needs to succeed: of work was too steep,” says Mr. firm to develop future employees. I Loans, lines of credit, merchant processing and other banking services Bhuiyan, president of Manhattan- Here are some tips for hiring and based Synesis IT, a developer of making the best use of interns. I Checking, money market and savings accounts I Cash management services – including an online cash management suite I Investments, insurance and retirement services* TO PAY OR NOT TO PAY I Equipment finance services PARTNERS – NOT JUST BANKERS. THOUGH INTERNS may be more interested in Working with North Fork also gives you something more – the services of a North Fork banker who’s committed to learning than earning, more and more small finding out where you want your business to go, and then developing a strategy for getting you there. businesses are paying at least minimum wage. * Securities are offered through NFB Investment Services Corp., a registered broker/dealer, member NASD/SIPC. Annuities and other types of insurance are Even if interns are getting college credit, reward- offered through NFB Agency Corp. Both are non-banking affiliates of North Fork Bank. ing them for their work boosts morale and offers Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by any Federal Government Agency more real-world experience. “AN EMPLOYER, according to the Fair Labor Stan- punchstock dards Act, is not required to pay student interns if their employment satisfies certain criteria, but that doesn’t mean they shouldn’t,” says Marc Zimmerman, a partner at law firm Phillips Nizer. THE LAW REQUIRES THAT an internship provide training and benefits for Right where Your Small Business needs us. the intern; an intern doesn’t displace any worker and is closely To learn more, speak to a North Fork Bank representative today. supervised; the firm derives no immediate advantage from the intern- ship; interns aren’t entitled to a job when they complete their internship. Stop by any North Fork Bank branch, visit www.northforkbank.com or call 877-694-9111. CNYB 06-11-07 A 25 6/7/2007 2:39 PM Page 1

REPORT SMALL BUSINESS

STEP 5 and pop culture can help a company Don’t abandon interns. reach the youth market. Involving Crafting plans that work for all interns in specific projects is the best start with an orientation session, way to chart their progress and per- STEP 1 basic workplace etiquette. If they and end dates, and specify any time and follow up with day-to-day man- formance. Interns are also efficient- Craft an attractive offer. have no prior professional experi- off granted for midterms or finals. aging, coaching and mentoring. ly used for innovative initiatives that ence, ask to see a completed school Bear in mind that programs may Designate a point person to oversee have been on the back burner. because many students want to project. vary in length from three weeks to interns’ activities. That supervisor dress up their résumé with a big six months; some students will be should spend at least 15 minutes to COMMENTS? [email protected] corporate name, small firms are at a STEP 4 able to work full-time and others 30 minutes a day reviewing work disadvantage when it comes to re- only part-time. If the internship is and offering feedback. Make it official. COMING UP cruiting the best interns.To be com- paid, be clear about whether the petitive,smaller operations must of- ask interns to sign a letter of company will cover any sick days for STEP 6 This year’s How-To columns focus on the theme of fer a well-conceived program with agreement that spells out the com- participants. Include a paragraph Staying Ahead of the Competition. To suggest a Tap their strengths. topic for a future column or to share an experience solid rewards. pany’s expectations of them, out- stating that either party can end the on the topic of August’s column—how to sell to the Make it clear that interns won’t lines their duties and clarifies any fi- relationship according to terms that interns bring a fresh perspective. government—send an e-mail to Small Business edi- just be filing but will have an oppor- nancial arrangements. Include start are mutually agreed-upon. Their understanding of new media tor Erik Ipsen at [email protected]. tunity to make real contributions. Alan Ibbotson,founding partner of UKNY Consulting, a New York management consultant, says,“I in- terview candidates to get a sense of who they are and give them projects geared toward their interests.” For example, one intern wanted to make movies. “I sent him with a video camera to interview people for a documentary, and the project was a total success because he was doing something that motivated him,” Mr. Ibbotson says.

STEP 2 Go fishing. finding the best interns takes time. Check with career offices, stu- dent placement centers and intern- ship directors at local colleges and universities to become involved in their programs. Contact schools that specialize in fields of study that correspond with the firm’s business needs. Nur- ture relationships with career coun- selors, and sign up as a guest lectur- er. Take part in campus career fairs Internships can allow firms to develop employees

and host brown-bag lunches with students and professors. Consider posting internships on dedicated job boards or on Craigslist.com, a popular site for young job hunters. Business is about offering the best choices. Jasmine Mele, human resources ® assistant at Massey Knakal Realty SO WHY DOESN’T YOUR BROKER OFFER STATE FARM ? Services in Queens,says the firm got a good response from highly quali- A broker can’t offer you State Farm® insurance for one simple reason: they don’t provide you with the dedicated fied intern prospects on Selectlead- personal service of a State Farm agent. You’ll always have a strong relationship to count on when you need help. This ers.com,a free job site for the real es- tate industry. higher level of support doesn’t carry a higher price, though–we offer very competitive rates on the particular types “Candidates who respond to our of coverage your business needs. Make the right choice. Call your agent today or visit statefarm.com® ads are looking for a very specific ex- perience,” Ms. Mele says. “It’s a good way to find a match.”

STEP 3 Set high standards. interview candidates as if they were applying for a permanent job. Ask for transcripts, and check refer- State Farm Fire and Casualty Company • State Farm General Insurance Company • Bloomington, IL • State Farm Florida Insurance Company • Winter Haven, FL • State Farm Lloyds • , TX ences.Inquire about skills and goals. Avoid students who lack maturity or

June 11, 2007 | Crain’s New York Business | 25 CNYB 06-11-07 A 26 6/7/2007 2:42 PM Page 1

REPORT SMALL BUSINESS

studded collar wrapped around its KINDRED SPIRITS thick neck; the label announces it as 2 entrepreneurs aiming “a brazen breed.” BULLDOG GIN Mr.Vohra acknowledges that his Launched January 2007 marketing is “skewed toward Expected first-year males”—young males, more pre- to find riches in a bottle revenues $2 million cisely,which is why one of his prior- Product price $28/750 ities is to counter gin’s image as a milliliters stodgy, harsh-tasting spirit. category,Mr. Antilla seeks to popu- has something of a toehold here be- Proof 80 To help achieve that, Mr. Vohra One tries to make larize a Brazilian rum, cachaça, that cause it’s used in the caipirinha, Popular drinks Dirty brought in David Kanbar, the pres- a market, one to roil is just beginning to catch on in this Brazil’s signature cocktail and a sta- martini, Brindle Bulldog ident of liquor seller Bambu Im- country. ple of Brazilian restaurants. ports and former executive vice sedate category; “It really is one of the last un- To buttress his brand’s claim of CABANA CACHAÇA president of Skyy Spirits, as nonex- Launched June 2006 rough slog either way tapped categories in the United trendiness, Mr. Antilla sprinkles ecutive chairman. States,” Mr. Antilla says. press releases with boldface names, Expected first-year Both young men dream of be- such as Damon Dash and Tinsley revenues $2 million Softer edge BY STEVE GARMHAUSEN coming the next Sidney Frank, who Mortimer, who have “developed a Product price “this is not your grandpa’s gin, founded Grey Goose vodka a taste for caipirinhas and mojitos” $34.99/750 milliliters the one that punched you in the face at first glance, the freshly mint- decade ago and sold the company in made with Cabana Cachaça. Proof 80 when you drank it,” Mr. Vohra says. ed entrepreneurs appear to be 2004 for $2.2 billion. Mr. Antilla also relies heavily on Popular drinks The softer-edged Bulldog, which is clones. Both are 28, worked as in- co-branding and “on-premise Caipirinhas, mojitos quadruple-distilled and flavored vestment bankers at J.P. Morgan The unvodka events.” For instance, Cabana with botanicals like poppy and drag- and are betting that imported spir- but they face an uphill battle, ac- Cachaça will be the featured alcohol on eye,has a scent of fruit and citrus. its cleverly marketed as hip alterna- cording to liquor marketing expert at the opening of a SoHo outlet of is double-distilled and mellowed for Messrs. Antilla and Vohra envi- tives to vodka can make them a for- Seymour Leikind. Vodka is simply Brazilian clothing designer Osklen. six months. The process eliminates sion their spirits soaring. The for- tune. more versatile than gin, which lacks Cabana Cachaça,with three em- the somewhat grassy taste typical of mer anticipates revenues of $20 mil- “The younger consumer is a lit- “that pizzazz,” he says. As for ployees,focuses its wholesale efforts inferior renditions. lion by 2011, and the latter is tle bit tired of vodka,” says Anshu- cachaça, “Who needs it?” he asks. on upscale liquor stores and stylish As Mr. Antilla works to raise shooting for $75 million by then. man Vohra, whose Bulldog Gin hit Mr.Antilla has an answer: young lounges. The company has devel- cachaça’s profile here, Mr. Vohra One reason for the optimism is store shelves—and bars—in Janu- people eager for something new and oped 1,000 accounts in half a dozen faces a vastly different set of circum- that they figure they know the ary. “How much vodka can you different. Accordingly, he bills his states and aims to start selling in the stances: Gin is not just well-estab- wealthy socialite market they are drink?” product, Cabana Cachaça, as an ex- United Kingdom this summer. lished but positively common. pitching inside out. Fellow J.P. Morgan alumnus otic,high-end drink for “trendsetter One thing that helps is that, un- To set his product apart from the “We ourselves are right in that Matti Antilla agrees, to a point. types focused on discovering hot like the cachaça Mr. Antilla discov- pack, Mr. Vohra has given it an ag- core demographic,”Mr.Antilla says. While Mr. Vohra’s challenge lies in categories.” ered while traveling in Brazil on gressively macho image. Bulldog blowing the dust off the sleepy gin He points out that the beverage business a few years ago, his version comes in a dark-gray bottle with a COMMENTS? [email protected]

Equal Opportunity Lender

Advantage: You

Introducing ADVANTAGE BANKING from Atlantic Bank.

Now you can create a Business Advantage Relationship by linking your Business or Commercial Checking to a Business Money Market Account. The combined balances make it easier to avoid monthly fees,reward you with preferred rates on your Business Money Market Account,and provide a host of value-added services.

• Avoid Checking Account Fees • No Application Fees • EARN Premium Money Market Rates • Financing Options • Cash Reserve for Business • Telephone Banking • Free Internet Banking • Plus, much more!

For additional information call: 1.800.535.2269 • www.abny.com

Your partner for success

Sixteen convenient locations • Brooklyn • Manhattan • Queens • Westchester

26 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 27 6/7/2007 2:52 PM Page 1

REPORT SMALL BUSINESS HITS & MISSES Fledgling firms’ key moves by Lisa Goff

Discovering love in the laundry iguel zabludovsky was recovering after the end of a long-term relationship when his laundry came Traditional cereal Mback from the cleaners wrinkled, discolored and gets spiced up wrapped in brown paper emblazoned with the message, “We Love Our Customers.” our years ago, Gaby “Love was a particularly painful topic for me at the time,” Sherrow had an organic says Mr. Zabludovsky, who decided to start a laundry that Fbaker’s dream job, running the baking really did love its customers—or at least their clothes. department at the Chelsea In 2005, he quit his job in the garment district and outpost of an upscale grocery rethought the laundry business from the consumer’s point of chain. But the dream soured when Ms. Sherrow lost view. His West Village control of her cookie recipes establishment, Slate NYC because she misunderstood (as in “clean slate”), her contract. coddles clothes in She responded by starting her own company in 2004. a specially “I took my talent for designed plant. coming up with unique dessert flavors and applied it Slate is also a green cleaner, and consulting businesses worth to granola,” Ms. Sherrow using only eco-friendly detergents $500 million. Five years ago, he says. Gaby’s Gourmet Granola is and solvents. In less than two years, brought the same sharp eye to now available at more than Slate has grown to 15 employees building his house and was frus- 20 local stores, including and just under $1 million in annual trated by the lack of quality and Fairway Market, and at revenues. flair of most architectural hardware. www.gabysgranola.com.The “I had to get my own window business had revenues of HITS levers cast, machined and finished $27,300 last year. Flat fee and no wrinkles by three different companies,” says slate charges a monthly fee of Mr. Baxter, who favors a classic HITS $299 for couples and $189 for contemporary style largely ignored Secret recipes singles “no matter how many by manufacturers. “Everything ms. sherrow isn’t taking any clothes” are sent in for laundry or available was either very ornate or chances this time. Although dry cleaning, Mr. Zabludovsky says. very modern.” Spotting a niche, he she outsources production to Many laundries use net bags to launched his architectural hardware a Bronx co-packer, “I toast wash clothes, which emerge a company in February. and grind all the spices myself wrinkled mess. Slate puts bar codes SA Baxter supplies window, door and bring them to the on items, folds them after drying and cabinet hardware for high-end kitchen,” she says. Her first and puts them into one of 45 canvas residential and commercial two blends, Chai Spice and “cubicles” that hang from the ceiling buildings, selling only to the trades. Pine Nut Anise, will soon be and move on metal rods. “It’s like a Sales are projected at more than $1 joined by Banana Chocolate postal-sorting system for clothes,” million this year. and Pineapple Coconut Mr. Zabludovsky says. Ginger. HITS Her company has MISSES Control over output benefited from Ms. Sherrow’s Eco-friendly marketing the ultimate in-sourcer, SA insatiable appetite for free slate offers service all over Baxter has its own design staff in business-building services. Manhattan, which initially Manhattan and a brand-new, She can rattle off a dozen that overtaxed pickup and delivery 10,000-square-foot foundry in she has used, including Score, capabilities. Also, pricing was Chester, N.Y.The result is Project Enterprise and Count Please join us set by ZIP code, with affluent quick turnaround for even Me In. zones charged more for what large orders. Mr. Baxter hopes The Subprime Market: Looking to the Future Mr. Zabludovsky assumed to begin exporting in 2009. MISSES Not enough research would be extra-finicky care. Good thing, because he has Douglas Duncan But, he says, “areas we received a big order from a outsourcing production Keynote Speaker: thought would be mostly SA Baxter knob Beijing hotel and inquiries has given Ms. Sherrow—the SVP & Chief Economist, Mortgage Bankers Association jeans and T-shirts ended up from Berlin, Hong Kong and only staffer—more time for having pretty complicated clothes.” the United Kingdom. marketing and development. Slate now has uniform pricing. But she could have found a June 20, 2007 / 10 am - 12 pm / lunch to follow But the biggest miscalculation MISSES cheaper packer with more Arent Fox LLP / 1675 Broadway / 34th Fl. / New York, NY was marketing Slate as eco-friendly. Good help hard to find research. “Local labor rates A recent survey showed that only the company had to delay its are very expensive,” she says. RSVP for this complimentary program to 30% of customers listed it as launch for three months because She has also had trouble 212.457.5520 or www.arentfox.net/rsvp important to them.“We thought Mr. Baxter couldn’t find anyone targeting the market’s taste the green aspect would be our who knew how to implement the buds. Buyers used to strongest selling point, but it’s not,” lost-wax process he uses for casting traditional granola are Mr. Zabludovsky says. at an industrial scale. sometimes put off by Gaby’s “None of this stuff is written assertive spices. Ms. Sherrow down in books, and the people who recently added “Gourmet” to Building a home used to do it in this country are all the brand name and hired a spawns a business retired,” he says. “I finally found a professional packager to www.arentfox.com couple of old-timers.” create a design that signals her Attorney Advertising attention to detail helped Scott products’ bold, exotic flavors. Baxter build technology, investment COMMENTS? [email protected]

June 11, 2007 | Crain’s New York Business | 27 Project4 12/15/06 11:35 AM Page 1

Business Priorities.

Making hard decisions is a tough and We provide the hard news you can count on rigorous process. You get information from to make hard choices. We give you information all sides, much of it confl icting and less then that’s fast and dependable, so you can take unequivocal. Your competitor seems to be action –now. We’re Crain Communications and putting up record numbers, but how can you we publish 30 newspapers and magazines, in a make counter moves without knowing for half-dozen key industries, dedicated to helping sure how they did it. You need an edge, from you make the diffi cult calls. Hard news for hard a source you can depend on. choices. That’s why we’re here – and why we have been for 90 years. That’s where we come in.

Publishing 30 Magazines and Newspapers Worldwide

Advertising Age American Coin-Op American Drycleaner American Laundry News Automobilwoche Automotive News Automotive News Europe AutoWeek BtoB Business Insurance Business Insurance Europe Creativity Crain’s Chicago Business Crain’s Cleveland Business Crain’s Detroit Business Crain’s New York Business Crain’s Mexico Crain’s Monterrey European Rubber Journal FinancialWeek InvestmentNews Modern Healthcare Pensions & Investments Plastics News RCR Wireless News Rubber & Plastics News TelevisionWeek Tire Business Urethanes Technology Waste News Workforce Management nb24p29_30_31cls.qxp 6/7/07 12:34 PM Page 29

BOOKKEEPING SERVICES BUSINESS SERVICES PUBLIC & LEGAL NOTICES

Notice of Qualification of Digital Laundry Notice of Qualification of CT Asia Fund Notice of Appl. for Auth. 325 Savanna LLC a LLC. Authority filed with Secy of State on Manager, LLC. Authority filed with Secy. of foreign limited liability company (LLC). 4/26/07. Office location: NY County. LLC State of N.Y. (SSNY) on 4/30/07. Office Appl. for Auth. filed with Secy. of State of formed in Delaware (DE) on 12/7/06. SSNY location: NY County. LLC formed in Delaware NY (SSNY) on 12/18/06. LLC organized in designated as agent of LLC, upon whom (DE) on 4/30/07. SSNY designated as agent of DE on 11/16/00. NY office location: New process against it may be served. SSNY LLC upon whom process against it may be York County. SSNY designated as agent of shall mail process to 173 E. 120th St., NY, served. SSNY shall mail process to: Geoffrey the LLC upon whom process against it may NY 10035, the principal business office of G. Jervis, Capital Trust, Inc., 410 Park Ave., be served. SSNY shall mail copy of process TECHNOLOGY SERVICES LLC. Address required to be maintained in 14th Fl., NY, NY 10022. DE address of LLC: to: c/o The LLC, 10 East , 37th DE: c/o Harvard Business Services, Inc., c/o Corporation Service Company, 2711 Flr., New York, NY 10022. Office address of 16192 Coastal Hwy, Lewes, DE 19958-9776. Centerville Road, Ste. 400, Wilmington, DE LLC in jurisdiction of organization: c/o Art. Of Org. filed with DE Secy of State, 401 19808. Cert. of Form. filed with DE Secy. of National Registered Agents, Inc., 160 TECHNICAL OPERATIONS, INC. Federal St., Dover, DE 19901. Purpose: any State, 401 Federal St., Ste. 4, Dover, DE 19901. Greentree Drive Suite 101, Dover, DE 19904. lawful activities. Purpose: any lawful activity. A copy of the Cert. of Form. is on file with State of Delaware, Division of Corporation, • Maintenance Services for • Multimedia Services/ Notice of Qualification of Tiger Partners Notice of Qualification of Porthault NA, LLC. 401 Federal Street, Ste. 4, Dover, DE 19901. Trading LLC. Authority filed with Secy. of State Authority filed with Secy. of State of NY Purpose: Any lawful act or activity. Broadcast and Industrial Manpower of N.Y. (SSNY) on 4/24/07. Office location: NY (SSNY) on 4/30/02. Office location: NY A/V Equipment County. Principal business location: 101 County. LLC formed in Delaware (DE) on NOTICE OF FORMATION of limited liability • Audio/Video Rentals , NY, NY 10178. LLC formed in 10/23/01. SSNY designated as agent of company (LLC). Name: Seed Represents LLC. • Free Pickup & Delivery, Delaware (DE) on 3/7/07. SSNY designated LLC upon whom process against it may be Articles of Organization filed with Secretary of Loaners Available • System Integration as agent of LLC upon whom process against served. SSNY shall mail process to: c/o State of New York (SSNY) on 5/1/07. Office it may be served. SSNY shall mail process National Registered Agents, Inc., 875 Ave location: New York County. SSNY designated to: c/o Corporation Service Company (CSC), of the Americas, Ste 501, NY, NY 10001, TECHNICAL OPERATIONS, INC. • 454 West 41st Street • New York, NY 10036 as agent of LLC upon whom service of process 80 State St., Albany, NY 12207. DE address also registered agent. Address of principal against it may be served. SSNY shall mail Phone (212) 465-1318 • Fax (212) 465-2318 • Email: [email protected] of LLC: CSC, 2711 Centerville Road, Ste. office: 18 East 69th St., NY, NY 10021. copy of process to the LLC, 23 East 4th Street, visit us at: www.tech-ops.com 400, Wilmington, DE 19808. Arts. of Org. Arts. of Org. filed with DE Secy. Of State, New York, NY 10003. Purpose any lawful act. filed with DE Secy. of State, 401 Federal St., 401 Federal St., Ste 4., Dover, DE 19901. Ste. 4, Dover, DE 19901. Purpose: any Purpose: any lawful activities. lawful activity. Notice of Formation of Carnegie Hill Cardiology, PLLC. Arts. of Org. filed with LUXURY Coming Up Notice of Formation of Stackpole Partners, Secy. of State of NY (SSNY) on 10/11/06. Notice of Qualification of Goldman Sachs LLC. Arts. of Org. filed with Secy. of State of Office location: NY Co. SSNY designated as on the Calendar Distressed Opportunities III Employee Fund, NY (SSNY) on 4/25/07. Office location: NY Co. agent of LLC upon whom process against it PROPERTIES L.P. Authority filed with Secy. of State of N.Y. SSNY designated as agent of LLC upon whom may be served. SSNY shall mail process to: (SSNY) on 4/16/07. Office location: NY process against it may be served. SSNY shall The LLC, 162 East 95th Street, NY, NY 10128. County. LP formed in Delaware (DE) on mail process to: National Registered Agents, Purpose: any lawful activities. MIAMI BEACH/FLORIDA June 18th 2/2/06. SSNY designated as agent of LP upon Inc., 875 Ave of the Americas, Ste 501, NY, NY Health Care whom process against it may be served. 10001, also registered agent. Purpose: any Notice of Formation of MV Designs, LLC. TRUMP OCEANFRONT CONDOS SSNY shall mail process to: 85 Broad St., NY, lawful activities. NY 10004. DE address of LP: 1209 Orange Arts. of Org. filed with NY Dept. of State on OWN YOUR LUXURY CONDO TODAY! St., Wilmington, DE 19801. Name/address of 4/6/07. Office location: NY County. Secy. of TRUMP GRANDE & TRUMP TOWERS Notice of Formation of DIGGIN 4 BROWN June 25th each genl. ptr. available from SSNY. Cert. of State designated as agent of LLC upon whom Buy directly from the Developer & Save $$ LLC. Arts. of Org. filed with Secy. of State of process against it may be served. Secy. of Executive Pay LP filed with DE Secy. of State, P.O. Box 898, N.Y. (SSNY) on 1/19/07. Office location: NY Furnished Condo Hotel units from $325k Dover, DE 19903. Purpose: any lawful activity. State shall mail process to: Starr & Company, 1-4 Bedrm Residential Condos from $875k County. SSNY designated as agent of LLC LLC, 850 3rd Ave., 15th Fl., NY, NY 10022, Ask for details on our FLY-BUY Program upon whom process against it may be served. principal business address of the LLC. Call Exclusively Baronoff 305.213.3606 NOTICE OF FORMATION OF LIMITED LIABILITY SSNY shall mail process to: Will Roberson, Purpose: any lawful activity. July 2nd COMPANY. NAME: 1700 PARK STREET LLC. 142 E. 98th St., Ste. 26, NY, NY 10029. Market Facts Articles of Organization were filed with the Purpose: any lawful activity. Secretary of State of New York (SSNY) on Notice of Qualification of Axton Owner LLC. Advertise on 12/20/06. Office location: New York County. Notice of Formation of LEOPOLD PRODUCTIONS Authority filed with Secy. of State of NY www.newyorkbusiness.com SSNY has been designated as agent of the LLC. Arts. of Org. filed with Secy. of State (SSNY) on 1/22/07. Office location: NY July 9th LLC upon whom process against it may be of N.Y. (SSNY) on 8/24/06. Office location: County. LLC formed in Delaware (DE) on Call John Gallagher Small Business served. SSNY shall mail a copy of process to NY County. SSNY designated as agent of 1/3/07. SSNY designated as agent of LLC the LLC, c/o Gabrielle Schein, 145 East 15th LLC upon whom process against it may be upon whom process against it may be @ 212-210-0189 Street, New York, New York 10003. Purpose: served. SSNY shall mail process to: served. SSNY shall mail process to: c/o For any lawful purpose. Corporation Service Company, 80 State National Registered Agents, Inc., 875 Ave of Street, Albany, NY 12207, registered agent the Americas, Ste 501, NY, NY 10001, also registered agent. Address required to be Notice of Qualification of Screen Media Films, upon whom process may be served. Purpose: any lawful activity. maintained in DE: 160 Greentree Dr., Ste 101, REAL ESTATE LLC. Authority filed with NY Sec. of State Dover, DE 19904. Arts. of Org. filed with DE (SSNY) 6/25/04.Juris. of org: Delaware (DE) Secy. Of State, 401 Federal St., Ste 4., Dover, filed: 1/15/02 NY off. loc. in NY Co. SSNY LINEN CHATEAU, LLC Articles of Org. filed NY DE 19901. Purpose: any lawful activities. OFFICE SPACE designated as agent of LLC upon whom Sec. of State (SSNY) 5/2/07. Office in New process may be served. SSNY shall mail copy York Co. SSNY desig. agent of LLC upon of process to: c/o Pavia & Harcourt LLP, Attn: whom process may be served. SSNY shall Notice of Qualification of Block by Block, IMMEDIATE OFFICE SPACE John R. Firestone, Esq., 600 Madison Ave, 12 mail copy of process to c/o Lazarus & Lazarus, LLC., fict name of Brantley Block by Block, Space by the day, week, month, year and even virtual. Fl. NY, NY 10022. LLC address in DE: 2711 P.C., 240 Madison Ave., 8th Fl., NY, NY 10016. LLC Authority filed with Secy. of State of Centerville Rd., Ste. 400, Wilmington, DE Purpose: Any lawful purpose. NY (SSNY) on 2/27/07. Office location: NY 212.573.0909 19808. Arts of org. on file with SSDE, Div of County. LLC formed in Kentucky (KY) on VornadoFurnishedOffices.com Corps, 401 Federal St. Ste 4, Dover, DE 19901 Notice of Formation of M&M Pictures, LLC. 12/27/06. SSNY designated as agent of LLC A Purpose: Any lawful purpose. Arts. of Org. filed with NY Dept. of State on upon whom process against it may be served. 90 Park 909 Third 330 Madison 770 Broadway SSNY shall mail process to: the LLC, 875 Ave. COMPANY 5/14/07. Office location: NY County. Secy. of Notice of Qualification of Envirotech State designated as agent of LLC upon of the Americas, Ste. 501, NY, NY 10001. OFFICE SPACE REAL ESTATE INVESTMENTS Consultants LLC. Authority filed with Secy. whom process against it may be served and Address of LLC in jurisdiction of formation: of State of N.Y. (SSNY) on 4/26/07. Office shall mail process to: 19 Greenwich St., #5B, 1325 S. 4th St, Louisville, KY 40208. Arts. of location: NY County. LLC formed in New NY, NY 10014, principal business address of Org. filed with Secy. of State of KY, 700 Jersey (NJ) on 12/21/06. SSNY designated the LLC. Purpose: any lawful activity. Capital Ave, Ste 152, Frankfort, KY 40601. 15-YR ABSOLUTE Purpose: any lawful activities. 212-947-5500 as agent of LLC upon whom process against FOR ALL OFFICE, RETAIL & LOFT SPACES NNN INVESTMENTS it may be served. SSNY shall mail process Notice of Qualification of Hanover Group to: 201 S. First St., Elizabeth, NJ 07206, NJ New York City, Brooklyn, Queens US, LLC. Authority filed with Secy. of State Notice of Qualification of Blue Opportunity 500–50,000 SF address of LLC. Arts. of Org. filed with NJ of NY (SSNY) on 4/03/07. Office location: Fund, L.P. Authority filed with Secy. of State UNDER MARKET SUBLETS – NO FEE! • C-Store Gas Station Portfolios Secy. of State, PO Box 300, Trenton, NJ NY County. LLC formed in Delaware (DE) of NY (SSNY) on 3/12/07. Office location: NY Search our listings @ www.midcomre.com • $6M to $130M throughout US 08625. Purpose: any lawful activity. on 3/8/06. SSNY designated as agent of County. LP formed in Delaware (DE) on 2/7/07. Call Paul 212 947-5500 x 100 • Publicly Traded Credit Rated Tenant LLC upon whom process against it may be SSNY designated as agent of LP upon whom Notice of Formation of MEDPREP CONSULTING served. SSNY shall mail process to: c/o process against it may be served. SSNY shall • Financing Available 54th & Park – Beautiful Suite GROUP, LLC. Arts. of Org. filed with Secy. National Registered Agents, Inc., 875 Ave mail process to: c/o National Registered Agents, 1 windowed office, 10 x 12, lg. conf. room, • 1031 Exchange Replacements of State of N.Y. (SSNY) on 1/25/07 as of the Americas, Ste 501, NY, NY 10001. Inc., 875 Avenue of the Americas., Ste. 501, NY, internet access. $1600 per month. amended. Office location: NY County. SSNY Address required to be maintained in DE: NY 10001, also registered agent. DE address of Call Sharon 212-754-4050 www.c-storeportfolios.com designated as agent of LLC upon whom 160 Greentree Dr., Ste 101, Dover, DE LP: 160 Greentree Dr., St 101, Dover, DE process against it may be served. SSNY 19904. Arts. of Org. filed with DE Secy. Of 19901. Name/address of genl. ptr. available shall mail process to: Stuart B. Weiss, 160 State, 401 Federal St., Ste 4., Dover, DE from SSNY. Cert. of LP filed with DE Secy. www.newyorkbusiness.com W. 71st St., #8E, NY, NY 10023. Purpose: 19901. Purpose: any lawful activities. of State, Federal & Duke of York Sts., Dover, any lawful activity. DE 19901. Purpose: any lawful activities. Notice of Qualification of AIMCO 204-206 Notice of App. for Auth. for LLC. Name: West 133 Net Lessee, LLC. Authority filed with Notice of Qualification of Tiedemann/Moross PUBLIC & LEGAL NOTICES EMPIRE 33RD ST. LLC Filed Sec. of State of Secy. of State of N.Y. (SSNY) on 5/11/07. Partners, LLC, App. for Auth. filed Sec'y of NY (SSNY) 3/13/07. Juris.: DE. Org: 3/8/07. Office location: NY County. LLC formed in State (SSNY) 2/16/06. Office location: NY Off. Loc: NY. SSNY is designated as agent of Delaware (DE) on 5/10/07. SSNY designated County. LLC org. in DE 1/19/06. SSNY Notice of Formation of Electric Media Name of LLC: Securities Acquisition Company LLC upon process against it may be served. as agent of LLC upon whom process against it designated as agent of LLC upon whom Solutions, LLC. Arts. of Org. filed with Secy. LLC. Arts. of Org. filed NY Sec. of State SSNY shall mail copy of process to THE LLC may be served. SSNY shall mail process to: process against it may be served. SSNY of State of N.Y. (SSNY) on 2/23/07. Office 3/21/07. Princ. off. loc.: New York Cty. Sec. of C/O Nyre Associates, 58 East 79th. St., 5th c/o Corporation Service Company (CSC), 80 shall mail copy of process to 535 Madison location: NY County. SSNY designated as State designated as agent of LLC upon whom Flr., NY, NY 10021. Juris. Off 508 Main Street, State St., Albany, NY 12207. DE address of Ave., 37th Fl., NY, NY 10022. DE office addr.: agent of LLC upon whom process against it process against it may be served. Sec. of State Wilmington, DE 19804. Copy of the art. filed LLC: c/o CSC, 2711 Centerville Road, Ste. 400, c/o CSC, 2711 Centerville Rd., Wilmington, may be served. SSNY shall mail process to: shall mail a copy of process to Gersten Savage with DE Secretary of State, Townsend Build., Wilmington, DE 19808. Arts. of Org. filed with DE 19808. Cert. of Form. on file: SSDE, 230 W. 41st St., #1100, NY, NY 10036, Attn: LLP, 600 Lexington Ave., 9th Fl., NY, NY 10022. Federal Street Dover, DE 19901. Purpose: Any DE Secy. of State, 401 Federal St., Dover, DE Townsend Bldg., Dover, DE 19901. Purpose: Marc Schiller. Purpose: any lawful activity. Purpose: any lawful activity. lawful act or activity. 19901. Purpose: any lawful activity. any lawful activities.

June 11, 2007 | Crain’s New York Business | 29 nb24p29_30_31cls.qxp 6/6/07 4:24 PM Page 30

PUBLIC & LEGAL NOTICES

Notice of Formation of Brilliant Trading Notice of Formation of BETAVILLE, LLC, a 15TH STREET LLC Articles of Org. filed NY Notice of Qualification of ETI Partners, LLC, Notice of formation of Molly Picu, LLC. Company, LLC. Arts. of Org. filed with Secy. of domestic Limited Liability Company. Arts. of Sec. of State (SSNY) 9/12/03. Office in New App. for Auth. filed Sec'y of State (SSNY) Arts. of Org filed with Secty. Of State of NY State of N.Y. (SSNY) on 5/27/2004. Office Org. filed with the SSNY on 02/01/07. Office York Co. SSNY desig. agent of LLC upon 7/22/04. Office location: NY County. LLC org. (SSNY) on 5/9/2007. Office location: New location: NY County. Principal business location: New York County. SSNY has been whom process may be served. SSNY shall in DE 7/21/04. SSNY designated as agent of York County. SSNY designated as agent of location: 580 Fifth Ave., Ste. 800, NY, NY designated as agent upon whom process mail copy of process to c/o Leahy & LLC upon whom process against it may be LLC upon whom process against it may be 10036. SSNY designated as agent of LLC against the LLC may be served. SSNY shall Johnson, P.C., 120 Wall St., NY, NY 10005. served. SSNY shall mail copy of process to served. SSNY shall mail process to: c/o CRM upon whom process against it may be served. mail a copy of process to: Andrew Leitch, 337 Purpose: Any lawful purpose. 535 Madison Ave., NY, NY 10022, the principal Management, 430 W. 14th St., NY, NY 10014. SSNY shall mail process to: One Rockefeller West 14th St., Apt. 64, New York, NY 10014. office addr. of LLC. Cert. of Form. on file: Purpose: any lawful activity. Plaza, 28th Fl., NY, NY 10020. Term: until Purpose: Any Lawful Purpose. Notice of Qualification of Lee Equity Partners SSDE, Townsend Bldg., Dover, DE 19901. 12/31/2024. Purpose: any lawful activity. Fund, L.P. Authority filed with Secy. of State of Purpose: any lawful activities. Notice of Qualification of FS Private Notice of Formation of Argot Partners, LLC. N.Y. (SSNY) on 5/3/07. Office location: NY Investments III LLC. Authority filed with Secy. Notice of Qualification of 85 Tenth First Mezz Arts. of Org. filed with Secy. of State of NY County. LP formed in Delaware (DE) on Notice of Formation of Gramercy Flatiron, of State of NY (SSNY) on 5/25/00. Office Associates, L.L.C. Authority filed with NY Dept. (SSNY) on 2/07/07. Office location: NY Co. 4/27/07. SSNY designated as agent of LP LLC. Arts. of Org. filed with NY Dept. of location: NY County. LLC formed in Delaware of State on 5/10/07. Office location: NY SSNY designated as agent of LLC upon whom upon whom process against it may be served. State on 5/15/07. Office location: NY (DE) on 3/1/00. SSNY designated as agent of County. Principal business address: 60 process against it may be served. SSNY shall SSNY shall mail process to principal business County. Secy. of State designated as agent LLC upon whom process against it may be Columbus Circle, NY, NY 10023. LLC formed mail process to: National Registered Agents, location: c/o Lee Equity Partners, LLC, 767 of LLC upon whom process against it may served. SSNY shall mail process to: c/o CT in Delaware (DE) on 5/9/07. NY Secy. of State Inc., 875 Avenue of the Americas, Ste. 501, Fifth Ave., NY, NY 10153. DE address of LP: be served and shall mail process to: Ebert Corporation System, 111 8th Ave., NY, NY designated as agent of LLC upon whom NY, NY 10001, also registered agent. Purpose: c/o Corporation Service Company, 2711 & Associates, LLC, 350 5th Ave., Ste. 4011, 10011. DE address of LLC: The Corporation process against it may be served and shall any lawful activities. Centerville Road, Ste. 400, Wilmington, DE NY, NY 10118, Attn: Steven Ebert, Esq., Trust Co., 1209 Orange St., Wilmington, DE mail process to: c/o Corporation Service Co. 19808. Name/address of each genl. ptr. registered agent upon whom process may 19801. Cert. of Form. filed with DE Secy. of (CSC), 80 State St., Albany, NY 12207. DE available from SSNY. Cert. of LP filed with DE be served. Purpose: any lawful activity. State, Townsend Bldg., Dover, DE 19901. Notice of Formation of The Motion Picture address of LLC: c/o CSC, 2711 Centerville Rd., Secy. of State, P.O. Box 898, Dover, DE 19903. Purpose: any lawful activity. Card Co., LLC. Arts. of Org. filed with NY Wilmington, DE 19808. Arts. of Org. filed with Purpose: any lawful activity. Dept. of State on 4/17/07. Office location: NY Notice of Qualification of Blackstone T Fund DE Secy. of State, Federal & Duke of York Sts., County. Principal business address: 137 L.P., App. for Auth. filed Sec'y of State (SSNY) Notice of Qualification of Lusman Capital Dover, DE 19901. Purpose: any lawful activity. Varick St., 5th Fl., NY, NY 10013. Secy. of Notice of Formation of RW Holdings LLC. 12/21/06. Office location: NY County. LP org. Management, LLC, filed under the original State designated as agent of LLC upon Arts. of Org. filed with Secy. of State of NY in DE 12/20/06. SSNY designated as agent of name Magnum Opus Management, LLC, App. Notice of Formation of 240 Seaman Realty whom process against it may be served. (SSNY) on 3/5/03. Office location: NY County. LP upon whom process against it may be for Auth. filed Sec'y of State (SSNY) 5/15/06. LLC. Arts. of Org. filed with Secy. of State Secy. of State shall mail process to: c/o Mark SSNY designated as agent of LLC upon whom served. SSNY shall mail copy of process to Office loc.: NY County. LLC org. in DE of N.Y. (SSNY) on 9/16/03. Office location: Rosenblum, 37 Brighton 11th St., Brooklyn, process against it may be served. SSNY shall Attn: J. Tomilson Hill, 345 Park Ave., NY, 5/11/06. SSNY designated as agent of LLC NY County. SSNY designated as agent of NY 11235. Purpose: any lawful activity. mail process to: c/o Rinzler & Rinzler, 200 NY 10154. DE office addr.: c/o CSC, 2711 upon whom process against it may be served. LLC upon whom process against it may be Madison Ave., 24th Fl., NY, NY 10016. Centerville Rd., Wilmington, DE 19808. Cert. SSNY shall mail copy of process to Attn: Joel served. SSNY shall mail process to: Purpose: any lawful activity. of LP on file: SSDE, Townsend Bldg., Dover, Lusman, 45 W. 67th St., #26A, NY, NY 10023. Corporation Service Co., 80 State St., Albany, Notice of Qualification of 1330 Mezz II LLC. DE 19901. Name/addr. of each gen. ptr. avail. Authority filed with Secy. Of State of NY DE office addr.: CSC, 2711 Centerville Rd., NY 12207, registered agent upon whom process Notice of Formation of 234 E. 84th Street, at SSNY. Purpose: any lawful activities. (SSNY) on 12/19/2006. Office location: New Wilmington, DE 19808. Cert. of Form. on file: may be served. Purpose: any lawful activity. LLC. Arts. of Org. filed with Secy. of State of York County. LLC formed in Delaware(DE) on SSDE, Townsend Bldg., Dover, DE 19901. NY (SSNY) on 5/6/05. Office location: NY Notice of Formation of 384 Broome Street, 12/18/2006. SSNY designated as agent of LLC Purpose: any lawful activities. Notice of Formation of JEH Ventures LLC. County. SSNY designated as agent of LLC LLC. Arts. of Org. filed with Secy. of State upon whom process against it may be served. Arts. of Org. filed with NY Dept. of State on upon whom process against it may be served. of NY (SSNY) on 2/3/06. Office location: NY SSNY shall mail process to: c/o Macklowe Notice of Formation of BDL 147 Mercer Street, 4/20/07. Office location: NY County. Secy. SSNY shall mail process to: c/o James Rinzler County. SSNY designated as agent of LLC Properties, 767 , 21st Flr., NY, NY LLC. Arts. of Org. filed with Secy. of State of of State designated as agent of LLC upon at Dominion Management, 200 Madison Ave., upon whom process against it may be 10153. Address required to be maintained in N.Y. (SSNY) on 5/10/2007. Office location: NY whom process against it may be served. NY, NY 10016. Purpose: any lawful activity. served. SSNY shall mail process to: 270 County. Principal business location: 147 Secy. of State shall mail process to: 345 W. home jurisdiction: National Registered Agents, Lafayette St., 4th Fl., NY, NY 10012. Inc.,160 Greentree Drive, Ste 101, Dover, Kent Mercer St., NY, NY 10012. SSNY designated 58th St., Ste. #9W, NY, NY 10019, principal Notice of Formation of Saint Jane Jazz, LLC. Purpose: any lawful activity. as agent of LLC upon whom process against it business address of the LLC. Purpose: any County, DE 19904. Arts. Of Org. filed with DE Secy. of State, Townsend Building, Dover, DE Arts. of Org. filed with NY Dept. of State on may be served. SSNY shall mail process to: lawful activity. Notice of Formation of ProVisual Advertising 19901. Purpose: any lawful activities. 4/30/07. Office location: NY County. Secy. of Holland & Knight LLP, 195 Broadway, NY, NY State designated as agent of LLC upon whom LLC Filed with the NY Dept. of State on 6/10/04. 10007, Attn: M. James Spitzer, Jr. Term: until Notice of Formation of Mid City Gym and process against it may be served. Secy. of Office Location: NY County. Secy. of State 12/31/2055. Purpose: any lawful activity. Tanning LLC (limited liability company) Art. Notice of Qualification of Pelagic Capital State shall mail process to: 329 W. 101st St., designated as agent of LLC upon whom Advisors LP. Authority filed with Secy. of State process against it may be served. Secy. of State of Or. filed with Sec. of State NY (SSNY) on Ste. 3E, NY, NY 10025, principal business Notice of Qualification of BS DVB Debt LLC. 4/10/2007, office located in the County of of N.Y. (SSNY) on 4/9/07. Office location: NY address of the LLC. Purpose: any lawful activity. shall mail process to the LLC Jeffry R. Moore, County. Principal business location: 101 Park 192 Avenue of the Americas Ste 5F. New York, Authority filed with NY Dept. of State on New York. SSNY designated agent for service 5/23/07. Office location: NY County. Principal and shall mail a copy of any process to Avenue, 21st Fl., NY, NY 10178. LP formed in NY. 10013. Purpose, Any lawful Activity. Delaware (DE) on 12/5/06. SSNY designated NOTICE OF FORMATION OF LIMITED LIABILITY business address: 383 Madison Ave., NY, NY Howard W. Segal P.C., 845 3rd Ave., #1740 COMPANY. NAME: KIDVILLE FRANCHISE 10179. LLC formed in Delaware (DE) on NYC 10022. Latest date to dissolve as agent of LP upon whom process against it Notice of Formation of Sands Brothers may be served. SSNY shall mail process to: COMPANY, LLC. Articles of Organization were 5/18/07. NY Secy. of State designated as 12/31/2087. Purpose: any lawful activity. filed with the Secretary of State of New York Venture Capital II LLC. Arts. of Org. filed with agent of LLC upon whom process against c/o Corporation Service Company (CSC), 80 Secy. of State of NY (SSNY) on 3/28/2000. State St., Albany, NY 12207. DE address of (SSNY) on 04/03/07. Office location: New it may be served and shall mail process to: Notice of Qualification of Clark Wamberg, York County. SSNY has been designated as Office location: NY County. SSNY designated c/o CT Corporation System, 111 8th Ave., LP: c/o CSC, 2711 Centerville Road, Ste. 400, as agent of LLC upon whom process against LLC. Authority filed with Secy. of State of Wilmington, DE 19808. Name/address of agent of the LLC upon whom process against NY, NY 10011, registered agent upon whom NY (SSNY) on 3/01/07. Office location: NY it may be served. SSNY shall mail a copy of it may be served. SSNY shall mail process to: process may be served. DE address of LLC: each genl. ptr. available from SSNY. Cert. of c/o Steven B. Sands, 90 Park Ave., NY, NY County. LLC formed in Delaware (DE) on LP filed with DE Secy. of State, 401 Federal process to the LLC, 163 East 84th Street, c/o Corporation Trust Co., 1209 Orange St., 10/24/06. SSNY designated as agent of LLC New York, New York 10028. Purpose: For 10016. Term: until 12/31/2030. Purpose: any Wilmington, DE 19801. Arts. of Org. filed St., Ste. 4, Dover, DE 19901. Purpose: any lawful activity. upon whom process against it may be lawful activity. any lawful purpose. with DE Secy. of State, Div. of Corps., served. SSNY shall mail process to: c/o Townsend Bldg., Dover, DE 19901. Purpose: Notice of Qualification of Primacy Relocation, National Registered Agents, Inc., 875 Ave Notice of Qualification of 81 Main Realty LLC. any lawful activity. Notice of Qualification of CAM-NMP GP, LLC. LLC. Authority filed with Secy. of State of of the Americas, Ste 501, NY, NY 10001. Authority filed with Secy. of State of N.Y. Authority filed with Secy. of State of N.Y. NY (SSNY) on 1/23/07. Office location: NY Address required to be maintained in DE: (SSNY) on 5/8/07. Office location: NY County. Notice of Qualification of Lederer, Levine & (SSNY) on 4/10/07. Office location: NY County. LLC formed in Tennessee (TN) on 160 Greentree Dr., Ste 101, Dover, DE LLC formed in Delaware (DE) on 5/1/07. SSNY Associates, L.L.C., App. for Auth. filed Sec'y of County. Principal business location: 2853 12/13/96. SSNY designated as agent of LLC 19904. Arts. of Org. filed with DE Secy. Of designated as agent of LLC upon whom State (SSNY) 4/13/04. Office loc.: NY County. Brandywine St., NW, Washington, DC 20008. upon whom process against it may be State, 401 Federal St., Ste 4., Dover, DE process against it may be served. SSNY shall LLC org. in NJ 1/3/01. SSNY designated as LLC formed in Delaware (DE) on 3/22/07. served. SSNY shall mail process to: c/o 19901. Purpose: any lawful activities. mail process to principal business location: agent of LLC upon whom process against it SSNY designated as agent of LLC upon whom National Registered Agents, Inc., 875 Ave of c/o Winter Management Corp., 730 Fifth Ave., may be served. SSNY shall mail copy of process against it may be served. SSNY shall the Americas, Ste 501, NY, NY 10001. Notice of Formation of 176 East 3 Realty LLC. 12th Fl., NY, NY 10019. DE address of LLC: process to c/o Ken Lederer, 20 E. 35th St., mail process to: c/o Corporation Service Address required to be maintained in TN: Arts. of Org. filed with Secy. of State of NY c/o Corporation Service Company, 2711 #3M, NY, NY 10016. NJ office addr.: 1099 Company (CSC), 80 State St., Albany, NY 6077 Primacy Pkwy, Ste 300, Memphis, TN (SSNY) on 3/23/07. Office location: NY Co. Centerville Road, Ste. 400, Wilmington, DE Wall Street W., Lyndhurst, NJ 07071. Cert. of 12207. DE address of LLC: c/o CSC, 2711 38119. Arts. of Org. filed with TN Secy. Of SSNY designated as agent of LLC upon whom 19808. Arts. of Org. filed with DE Secy. of State, Form. on file: NJ Div. of Revenue, PO Box 308, Centerville Road, Ste. 400, Wilmington, DE State, 312 Eighth Ave N., 6th Fl, William process against it may be served. SSNY shall Townsend Bldg., Dover, DE 19901. Purpose: Trenton, NJ 08646. Purpose: to practice the 19808. Arts. of Org. filed with DE Secy. of Snodgrass Tower, Nashville, TN 37243. mail process to: c/o The Icon Group, 433 owning and managing real estate and any profession of Certified Public Accountancy. State, 401 Federal St., Dover, DE 19901. Purpose: any lawful activities. W.14th St., Ste 429 3R, NY, NY 10014. Purpose: investment management services. other purposes permitted by applicable law. Purpose: any lawful activities. Notice of Formation 496 Broadway Realty, LLC Notice of App. of Auth. of Lime Brokerage Notice of Qualification of The Chalice Fund L.P. Notice of Qualification of Blackstone FS Fund art. of org. filed Secy. of State NY (SSNY) Holdings LLC, filed NY Secy of State (SSNY) Notice of Formation of 420 East 66 Realty Authority filed with Secy. of State of N.Y. L.P., App. for Auth. filed Sec'y of State (SSNY) 11/9/06. Off. loc. in NY Co. SSNY designated 4-30-07; Organized DE 4-23-07; NY office: LLC. Arts. of Org. filed with Secy. of State of (SSNY) on 12/21/06. Office location: NY 10/18/06. Office location: NY County. LP org. as agent of LLC upon whom process may be NY Cty, 377 Broadway, NY, NY 10013; SSNY NY (SSNY) on 4/20/07. Office location: NY Co. County. LP formed in Delaware (DE) on in DE 10/17/06. SSNY designated as agent of served. SSNY shall mail copy of process to: Designated Agent For Service of Process, SSNY designated as agent of LLC upon whom 10/12/06. SSNY designated as agent of LP LP upon whom process against it may be c/o Mark D. Mermel, Esq., 98 Cuttermill Rd, copy to Lime Brokerage Holdings LLC, 377 process against it may be served. SSNY shall upon whom process against it may be served. served. SSNY shall mail copy of process to Ste. 234, Great Neck, NY 11201. Purpose: Any Broadway, NY, NY 10013; Registered office mail process to: : c/o The Icon Group, 433 SSNY shall mail process to: c/o Grail Partners Attn: J. Tomilson Hill, 345 Park Ave., NY, NY lawful purpose, managed by members, DE: Corporation Service Company, 2711 West 14th St., Ste 429 3R, NY, NY 10014. LLC, One Post Office Square, Boston, MA 10154. DE office addr.: c/o CSC, 2711 latest date: 11/6/2105. Centerville Rd., Ste. 400, Wilmington, DE Purpose: any lawful activities. 02109. DE address of LP: The Corporation Centerville Rd., Wilmington, DE 19808. Cert. 19808; Cert. Formation filed DE Secy State, 401 Federal St., Ste. 4, Dover, DE 19901; Trust Company, 1209 Orange St., Wilmington, of LP on file: SSDE, Townsend Bldg., Dover, Notice of Formation of NYC FILM PARTNERS, Purpose: any lawful activity. Name: PRHC LLC Art. of Org. Filed Sec. of DE 19801. Name/address of each genl. ptr. DE 19901. Name/addr. of each gen. ptr. avail. LLC. Arts. of Org. filed with Secy. of State of State of NY 2/11/02 Off. Loc.: New York Co. available from SSNY. Cert. of LP filed with DE at SSNY. Purpose: any lawful activities. N.Y. (SSNY) on 3/8/07. Office location: NY SSNY designated as Agent upon whom process Secy. of State, P.O. Box 898, Dover, DE 19903. County. SSNY designated as agent of LLC Notice of Qualification of SLG 48E43 LLC. against it may be served. SSNY to mail copy Purpose: all lawful purposes. NOTICE OF FORMATION of MAURIEL & upon whom process against it may be served. Authority filed with Secy. of State of NY of process to THE LLC, James S. Klein, KAPOUYTIAN LLP, domestic Limited Liability SSNY shall mail process to: c/o Frankfurt (SSNY) on 3/21/07. Office location: NY Herzfeld & Rubin, P.C., 40 Wall Street, 54th NOTICE OF FORMATION OF LIMITED LIABILITY Partnership (LLP). Cert. of Registration filed Kurnit Klein & Selz, P.C., 488 Madison Ave., County. LLC formed in Delaware (DE) on Flr., NY, NY 10005. Purpose: Any lawful act. COMPANY. NAME: KIDVILLE FRANCHISE with Secy. of State of NY (SSNY) on 3/28/07. NY, NY 10022, Attn: Thomas D. Selz, Esq. 3/20/07. SSNY designated as agent of LLC PARTNERS, LLC. Articles of Organization NY Office location: 168 Second Avenue, Box Purpose: any lawful activity. upon whom process against it may be Notice of Formation of Added Opportunity were filed with the Secretary of State of New 352, New York, NY 10003, NEW YORK served. SSNY shall mail process to: c/o LLC. Arts. of Org. filed with Secy. of State of York (SSNY) on 04/03/07. Office location: County. SSNY designated as agent upon Notice of formation: Mark's Bookkeeping National Registered Agents, Inc., 875 Ave of NY (SSNY) on 10/10/2006. Office location: NY New York County. SSNY has been designated whom process against the LLP may be Services LLC a NYS LLC filed with SSNY on the Americas, Ste 501, NY, NY 10001, also County. SSNY designated as agent of LLC as agent of the LLC upon whom process served. SSNY shall mail a copy of any 06/05/02. Off. Loc Co. SSNY designated as registered agent. Address required to be upon whom process against it may be served. against it may be served. SSNY shall mail a process against the LLP served upon him/her agent of LLC, upon whom process may be maintained in DE: 160 Greentree Dr., Ste 101, SSNY shall mail process to: c/o Corporate copy of process to the LLC, 163 East 84th to the LLP at 168 Second Avenue, Box 352, served. SSNY shall mail copy of process to: Dover, DE 19904. Arts. of Org. filed with DE Service Company, 80 State Street, NY, NY Street, New York, New York 10028. Purpose: New York, NY 10003. Purpose: To practice the The LLC, 40 W 24 St #3F, NY, NY 10010. Secy. Of State, 401 Federal St., Ste 4., Dover, 12207-2543. Purpose: any lawful activities. For any lawful purpose. profession of law. Purpose: Any Lawful Activities. DE 19901. Purpose: any lawful activities.

30 | Crain’s New York Business | June 11, 2007 nb24p29_30_31cls.qxp 6/6/07 4:33 PM Page 31

PUBLIC & LEGAL NOTICES

NOTICE OF FORMATION OF LIMITED LIABILITY Notice of Qualification of Cardinal Point Fund I Name: ROKARA, LLC Art. of Org. Filed Sec. Notice of formation of Fluid Editorial & Design, Notice of Formation of Spring Valley Site III COMPANY. NAME: JJ49 REALTY LLC. LP, App. for Auth. filed Sec'y of State (SSNY) Of State of NY 1/10/07. Off. Loc. New York. LLC. Arts. of Org. filed Sec. of State NY (SSNY) Developer LLC. Arts. of Org. filed with Secy. of Articles of Organization were filed with the 1/22/04. Office location: NY County. LP org. in Co. SSNY designated as agent upon whom 5/10/07. Off. Loc.: New York Co. SSNY State of N.Y. (SSNY) on 3/26/07. Office Secretary of State of New York (SSNY) on DE 1/20/04. SSNY designated as agent of LP process against it may be served. SSNY to designated as agent upon whom process location: NY County. SSNY designated as 04/09/07. The latest date of dissolution is upon whom process against it may be served. mail copy of process to The LLC, 122 First against it may be served. SSNY to mail copy of agent of LLC upon whom process against it 12/31/2050. Office location: New York SSNY shall mail copy of process to Attn: Greg Avenue, NY, NY 10009. Purpose: Any lawful process to The LLC, 95 Horatio Street, Suite may be served. SSNY shall mail process to: County. SSNY has been designated as agent Elmlinger, 767 Third Ave., 14th Fl., NY, NY activity. 409, NY, NY 10014. Purpose: Any lawful act. c/o CPC Resources, Inc., 28 E. 28th St., 9th Fl., of the LLC upon whom process against it 10017, the principal office addr. of LP. Cert. of NY, NY 10016. Purpose: any lawful activity. may be served. SSNY shall mail a copy of LP on file: SSDE, Townsend Bldg., Dover, DE Notice of Qualification of Old Square Capital Notice of Formation of Colen MD Plastic process to the LLC, c/o John Kaufman c/o 19901. Name/addr. of each gen. ptr. avail. at Advisors, LLC, filed under the original name Surgery Suite, P.L.L.C. Arts. of Org. filed Notice of Qualification of FrontPoint Partners Canavan & Kaufman, Esqs., One Barker SSNY. Purpose: any lawful activities. Old Square Advisers, LLC, App. for Auth. filed with Secy. of State of NY (SSNY) on 3/26/07. LLC. Authority filed with NY Dept. of State on Avenue, White Plains, New York 10601. Sec'y of State (SSNY) 2/10/06. Office location: Office location: NY Co. SSNY designated as 4/25/07. Office location: NY County. Principal Purpose: For any lawful purpose. Notice of Qualification of POLYNOMA LLC. NY County. LLC org. in DE 2/7/06. SSNY agent of LLC upon whom process against it business address: 2 Greenwich Plaza, Authority filed with Secy. of State of N.Y. designated as agent of LLC upon whom may be served. SSNY shall mail process to: Greenwich, CT 06830. LLC formed in Notice of Qualification of Protégé (SSNY) on 4/10/07. Office location: NY process against it may be served. SSNY shall The LLC, 742 Park Ave., NY, NY 10021. Delaware (DE) on 10/12/00. NY Secy. of State Opportunistic Fund, LP, filed under the County. LLC formed in Delaware (DE) on mail copy of process to Attn: Kemal Ahmed, Purpose: any lawful activities. designated as agent of LLC upon whom original name Protege Strategic Fund, LP, 4/4/07. SSNY designated as agent of LLC 880 Third Ave., 3rd Fl., NY, NY 10022. DE process against it may be served and shall App. For Auth. filed Sec'y of State (SSNY) upon whom process against it may be served. office addr.: c/o CSC, 2711 Centerville Rd., Notice of Qualification of Goldman Sachs mail process to: c/o CT Corporation System, 2/20/07. Office loc.: NY County. LP org. in SSNY shall mail process to: c/o Jack Gray, Wilmington, DE 19808. Cert. of Form. on file: Global Trading Advisors, LLC. Authority filed 111 8th Ave., NY, NY 10011, registered agent DE 2/14/07. SSNY designated as agent of LP 201 W. 52nd St., 3rd Fl., NY, NY 10019. DE SSDE, Townsend Bldg., Dover, DE 19901. with Secy. of State of N.Y. (SSNY) on 5/2/07. upon whom process may be served. DE upon whom process against it may be address of LLC: c/o Corporation Service Purpose: any lawful activities. Office location: NY County. LLC formed in address of LLC: CT Corporation, 1209 Orange served. SSNY shall mail copy of process to Company, 2711 Centerville Road, Ste. 400, Delaware (DE) on 11/26/02. SSNY designated St., Wilmington, DE 19801. Arts. of Org. filed as agent of LLC upon whom process against with DE Secy. of State, 401 Federal St., Ste. 4, Attn: Jeffrey Tarrant, 25 W. 53rd St., NY, NY Wilmington, DE 19808. Arts. of Org. filed with Notice of Qualification of Tailwind Capital it may be served. SSNY shall mail process to Dover, DE 19901. Purpose: any lawful activity. 10019. DE office addr.: CSC, 2711 Centerville DE Secy. of State, 401 Federal St., Dover, DE Partners (TE), L.P. Authority filed with NY principal business location: Goldman Sachs Rd., Wilmington, DE 19808. Cert. of LP on 19901. Purpose: any lawful activity. Dept. of State on 5/3/07. Office location: NY Hedge Fund Strategies LLC, 1 New York Notice of Registration of Thompson Wigdor & file: SSDE, Townsend Bldg., Dover, DE 19901. County. Principal business address: 390 Park Plaza, NY, NY 10004. DE address of LLC: Gilly LLP. Cert. filed with Secy. of State of NY Name/addr. of each gen. ptr. avail. at SSNY. Notice of Qualification of Cardinal Point Ave., NY, NY 10022. LP formed in Delaware 1209 Orange St., Wilmington, DE 19801. (SSNY) on 2/3/03. Office location: NY County. Purpose: any lawful activities. Associates LLC, App. for Auth. filed Sec'y of (DE) on 10/23/06. NY Secy. of State designated Arts. of Org. filed with DE Secy. of State, P.O. SSNY designated as agent of LLP upon whom State (SSNY) 1/21/04. Office location: NY as agent of LP upon whom process against it Box 898, Dover, DE 19903. Purpose: any process against it may be served. SSNY shall Name: ORIGINAL SAINT MARK’S PIZZA, County. LLC org. in DE 10/9/03. SSNY may be served and shall mail process to: c/o lawful activity. mail process to: c/o CT Corporation System, LLC Art. of Org. Filed Sec. Of State of NY designated as agent of LLC upon whom CT Corporation System, 111 8th Ave., NY, NY 111 8th Ave., NY, NY 10011, registered agent 3/1/07. Off. Loc. New York. Co. SSNY process against it may be served. SSNY shall 10011. DE address of LP: c/o Corporation upon whom process may be served. Purpose: designated as agent upon whom process mail copy of process to Attn: Greg Elmlinger, Service Co., 2711 Centerville Rd., Ste. 400, Notice of Qualification of Goldman Sachs EP practice the profession of law. against it may be served. SSNY to mail 767 Third Ave., 14th Fl., NY, NY 10017, the Wilmington, DE 19808. Name/address of Partners, LLC. Authority filed with Secy. of copy of process to The LLC C/O Morwin principal office addr. of LLC. Cert. of Form. on genl. ptr. available from Secy. of State. State of N.Y. (SSNY) on 5/2/07. Office location: Schmookler, P.O. Box 1568, FDR Station, file: SSDE, Townsend Bldg., Dover, DE 19901. Cert. of LP filed with DE Secy. of State, NY County. LLC formed in Delaware (DE) on Notice of Formation of 1540 Second Realty NY, NY 10150. Purpose: Any lawful activity. Purpose: any lawful activities. Townsend Bldg., Dover, DE 19901. Purpose: any 11/15/05. SSNY designated as agent of LLC LLC. Arts. of Org. filed with Secy. of State of lawful activity. upon whom process against it may be served. NY (SSNY) on 4/20/07. Office location: NY Co. Notice of Formation of 158 West 23 LLC. Arts. Notice of Formation of CYBERLAWSTUDIO, SSNY shall mail process to principal business SSNY designated as agent of LLC upon whom location: Goldman Sachs Hedge Fund Strategies process against it may be served. SSNY shall of Org. filed with Secy. of State of NY (SSNY) PLLC, a professional service limited liability Notice of Formation of Sprocket Films, LLC. on 4/20/04. Office location: NY Co. SSNY company (PLLC). Arts. of Org. filed with LLC, 1 New York Plaza, NY, NY 10004. DE mail process to: c/o The Icon Group, 433 West Art. of Org. filed with the Secy. of St. of New address of LLC: 1209 Orange St., Wilmington, 14th St., Ste 429 3R, NY, NY 10014. Purpose: designated as agent of LLC upon whom Secy. of State of N.Y. (SSNY) on 3/15/04. York (SSNY) on 09/23/05. N.Y. Off. Loc.: NY process against it may be served. SSNY shall Office location: NY County. SSNY designated DE 19801. Arts. of Org. filed with DE Secy. of any lawful activities. County. SSNY has been designated as agent State, P.O. Box 898, Dover, DE 19903. mail process to: c/o Rossrock LLC, Attn: as agent of PLLC upon whom process of LLC upon process against it may be served. Purpose: any lawful activity. Notice of Formation of Hudson Third LLC. Mr.James Ross, 150 East 52nd St., 27th Fl, against it may be served. SSNY shall mail The P.O. address to which the SSNY shall mail Arts. of Org. filed with Secy. of State of N.Y. NY, NY 10022. Purpose: any lawful activities. process to: The LLC, 106 Bedford St., Apt. a copy of any process against the LLC served (SSNY) on 5/11/07. Office location: NY 6E, NY, NY 10014, Attn: Julia Cheng, registered upon him/her is C/O the LLC: 536 East Fifth St., Notice of Qualification of Goldman Sachs County. SSNY designated as agent of LLC Notice of Qualification of CIP Europe, L.P. agent upon whom process may be served. New York, NY, 10009. Purpose of the LLC: Princeton Fund, LLC. Authority filed with upon whom process against it may be served. Authority filed with Secy. of State of N.Y. Purpose: provision of legal services. any lawful act. Secy. of State of N.Y. (SSNY) on 5/2/07. SSNY shall mail process to principal business (SSNY) on 3/1/07. Office location: NY County. Office location: NY County. LLC formed in location: 826 Broadway, NY, NY 10003. LP formed in Cayman Islands (CI) on Notice of Qualification of CPC NY 58 Delaware (DE) on 2/25/05. SSNY designated Notice of Qualification of Millenco, L.L.C. Purpose: any lawful activity. 10/18/06. SSNY designated as agent of LP Mortimer Realty, LLC. Authority filed with as agent of LLC upon whom process against Authority filed with Secy. of State of N.Y. it may be served. SSNY shall mail process to upon whom process against it may be served. Secy. of State of N.Y. (SSNY) on 5/9/07. (SSNY) on 10/16/2006. Office location: NY SSNY shall mail process to: Co-Investment Office location: NY County. LLC formed in principal business location: Goldman Sachs Name of For. LLC: Kramer Design Group County. LLC formed in Delaware (DE) on Hedge Fund Strategies LLC, 1 New York LLC. Appl. for Auth. filed with Sec. of State Partners Europe, L.P., c/o Lexington Advisors Delaware (DE) on 5/4/07. SSNY designated 6/1/1989. SSNY designated as agent of LLC Inc., 660 Madison Ave., NY, NY 10022. as agent of LLC upon whom process against Plaza, NY, NY 10004. DE address of LLC: of NY: 7/30/01. Jurisd. and date of org.: DE upon whom process against it may be 1209 Orange St., Wilmington, DE 19801. 7/27/01. NY State office loc.: NY Cty. Sec. of Registered agent upon whom process may be it may be served. SSNY shall mail process to: served. SSNY shall mail process to principal served: CT Corporation System, 111 8th Ave., c/o Corporation Service Company, 80 State Arts. of Org. filed with DE Secy. of State, P.O. State of NY designated as agent of LLC business location: The LLC, 666 Fifth Box 898, Dover, DE 19903. Purpose: any upon whom process may be served. Sec. of NY, NY 10011. CI address of LP: Walker St., Albany, NY 12207. DE address of LLC: Avenue, 8th Fl., NY, NY 10103. DE address House, 87 Mary St., P.O. Box 908 GT, George 1105 N. Market St., Ste. 1026, Wilmington, lawful activity. State shall mail copy of process to the LLC: of LLC: Corporation Service Company, 2711 601 W. 26th St., NY, NY 10001. Addr. of LLC Town, Grand Cayman, KY1-9002 CI. DE 19801. Arts. of Org. filed with DE Secy. of Centerville Road, Ste. 400, Wilmington, DE Notice of Qualification of Thermo Fisher in DE is: 2711 Centerville Road, Ste. 400, Name/address of each genl. ptr. available from State, 401 Federal St., Dover, DE 19901. 19808. Cert. of Form. filed with DE Secy. of Scientific (Asheville) LLC. Authority filed with Wilmington, DE 19808. Authorized office in SSNY. Cert. of LP filed with Walkers, Walker Purpose: any lawful activity. State, Townsend Bldg., Dover, DE 19901. Secy. of State of N.Y. (SSNY) on 4/16/2007. DE where Cert. of Form. is filed: DE Sec. of House, 87 May St., P.O. Box 265 GT, George Purpose: any lawful activity. Town, Grand Cayman, KY1-9002, CI. Purpose: 2904 ATLANTIC AVE LLC Articles of Org. Office location: NY County. LLC formed in State, Townsend Bldg., Dover, DE 19901. all lawful purposes. filed NY Sec. of State (SSNY) 12/18/06. Delaware (DE) on 6/3/1996. SSNY designated Purpose: any lawful activity. Office in NY Co. SSNY desig. agent of LLC NOTICE OF FORMATION OF R&B Bradhurst, as agent of LLC upon whom process against it LLC. Art. of Org. filed with the Secy of St. of Notice of Formation of Crosby Roamann, upon whom process may be served. SSNY may be served. SSNY shall mail process to: Notice of Formation of Spring Valley Site III shall mail copy of process to PO Box 20700, New York (SSNY) on 02/24/06. N.Y. Off. c/o CT Corporation System, 111 8th Ave., NY, Manager LLC. Arts. of Org. filed with Secy. of LLC. Arts. of Org. filed with Secy. of State of Loc.: NY County. SSNY has been designated N.Y. (SSNY) on 1/27/06. Office location: NY NY, NY 10009. Purpose: Any lawful purpose. NY 10011, registered agent upon whom State of N.Y. (SSNY) on 3/26/07. Office location: as agent of LLC upon whom process against process may be served. DE address of LLC: NY County. SSNY designated as agent of County. SSNY designated as agent of LLC it may be served. The P.O. address to which upon whom process against it may be Notice of Qualification of Solas Capital, LLC, The Corporation Trust Company, 1209 Orange LLC upon whom process against it may be App. for Auth. filed Sec'y of State (SSNY) the SSNY shall mail a copy of any process St., Wilmington, DE 19801. Arts. of Org. filed served. SSNY shall mail process to: c/o CPC served. SSNY shall mail process to principal against the LLC served upon him/her is C/O business location: Anne McBride Schreiber, 9/17/04. Office location: NY County. LLC org. with DE Secy. of State, 401 Federal St., Ste. 4, Resources, Inc., 28 E. 28th St., 9th Fl., NY, in DE 9/15/04. SSNY designated as agent of the LLC: Abrams Garfinkel Margolis Bergson, Dover, DE 19901. Purpose: all lawful purposes. NY 10016. Purpose: any lawful activity. 124 E 79th St., Apt. 19B, NY, NY 10021. LLP 237 West 35th St., 4th Fl., NY, NY, 10001. Purpose: any lawful activity. LLC upon whom process against it may be served. SSNY shall mail copy of process to Purpose of LLC: any lawful act. REQUESTS FOR PROPOSALS Notice of formation of MRAJ Spring Street, Attn: Frederick Tucker Golden, 237 Park LLC. Art. Of Org. filed with Secy. Of State of Ave., 8th Fl., NY, NY 10017. DE office addr.: Notice of Qualification of RepEvent, LLC. NY (SSNY) on 1/10/07. Office location: New c/o CSC, 2711 Centerville Rd., Wilmington, Authority filed with NY Dept. of State on York County. SSNY designated as agent of DE 19808. Cert. of Form. on file: SSDE, 5/25/07. Office location: NY County. Principal the LLC upon whom process against it may Townsend Bldg., Dover, DE 19901. Purpose: business address: 75 9th Ave., 4th Fl., NY, be served. SSNY shall mail a copy of any any lawful activities. NY 10011. LLC formed in Delaware (DE) on process to: c/o The LLC, 199 Duane Street, 3/7/07. NY Secy. of State designated as 5th Floor New York, NY 10013 Purpose: To NOTICE OF FORMATION of Tender Creative agent of LLC upon whom process against it REQUEST FOR PROPOSALS FOR REAL ESTATE engage in any lawful act or activity. LLC. Article of Org. filed with the Sec'y of may be served and shall mail process to: c/o State NY (SSNY) 01/03/2006, address Corporation Service Co., 80 State St., Albany, BROKERAGE SERVICES FOR THE FREEDOM TOWER Notice of Formation of Donaghy Family LLC. change filed SSNY 04/06/2007. Office location: NY 12207. DE address of LLC: 2711 Arts. of Org. filed with Secy. of State of N.Y. NY County. SSNY designated as agent of Centerville Rd., Ste. 400, Wilmington, DE (TOWER 1) AT THE WORLD TRADE CENTER (SSNY) on 2/1/07. Office location: NY County. LLC upon whom process against it may be 19808. Arts. of Org. filed with DE Secy. of SSNY designated as agent of LLC upon whom served. SSNY shall mail copy of process to: State, 401 Federal St., Ste. 4, Dover, DE 19901. The specific information and qualifications are in RFP Number 12797, process against it may be served. SSNY shall Tender, 188 Bowery, Floor 2, NY, NY 10012 Purpose: any lawful activity. mail process to: Anderson Kill & Olick, P.C., (principal business location). Purpose: any “Request for Proposals for Expert Professional Real Estate Brokerage 1251 Avenue of the Americas, NY, NY 10020, lawful activity. NOTICE OF FORMATION OF LIMITED Services for the Freedom Tower,” listed on the Port Authority’s Attn: James G. Clements, Esq. Purpose: all LIABILITY COMPANY. NAME: SEARCHING lawful purposes. NOTICE OF FORMATION of limited liability FOR SMILES, LLC. Articles of Organization Web site: www.panynj.gov. It can be downloaded directly, or to request company (LLC). Name: NBE CONSULTING were filed with the Secretary of State of Notice of Formation of Eastern Capital Group LLC. Articles of Organization filed with New York (SSNY) on 04/19/07. The latest a copy, please e-mail [email protected], and include the LLC. Arts. of Org. filed with Secy. of State of Secretary of State of New York (SSNY) on date of dissolution is 05/31/2030. Office following information in your e-mail: RFP number, firm name, e-mail N.Y. (SSNY) on 7/12/02. Office location: NY 5/9/07. Office location: New York County. location: New York County. SSNY has been County. SSNY designated as agent of LLC SSNY designated as agent of LLC upon whom designated as agent of the LLC upon whom address, contact person, mailing address and telephone number. upon whom process against it may be process against it may be served. SSNY shall process against it may be served. SSNY served. SSNY shall mail process to: c/o CT mail process to: c/o National Registered shall mail a copy of process to the LLC, c/o Proposals are due on July 9, 2007. Joint Ventures/Teams are Corporation System, 111 8th Ave., NY, NY Agents, Inc., 875 Avenue of the Americas, Ste Jay R. Viders, PLLC, One Old Country Road, 10011, registered agent upon whom process 501, NY, NY 10001, also registered agent. Carle Place, New York 11514. Purpose: For acceptable. may be served. Purpose: any lawful activity. Purpose: any lawful activities. any lawful purpose

June 11, 2007 | Crain’s New York Business | 31 CNYB 06-11-07 A 32 6/7/2007 1:52 PM Page 1

REAL ESTATE DEALS Bank’s N.J. move sparks leasing

al leasing deals at one of its Manhat- Third Ave., is expanding into the Will vacate large tan locations. 88,000 square feet, or the entire space on Third Ave.; In January, BNP Paribas leased third and fourth floors, for a total of nearly 150,000 square feet at 525 more than 250,000 square feet in the Japanese retailer Washington Blvd. in Jersey City. In building. turn, it is subleasing out 88,000 Schulte Roth “will make a seri- expands downtown square feet at 919 Third Ave., between ous investment in building out the East 55th and East 56th streets.The space for its attorneys, as well as for he decision by Euro- bank plans to vacate the space in the some operations usages,” says Scott pean bank BNP Paribas third quarter.The asking rent at the Pudalov, the broker at CB Richard to expand its offices in building is $85 a square foot. Ellis who represented Schulte Roth. New Jersey has opened Law firm Schulte Roth & Zabel, The firm will use a direct elevator to Tthe floodgates for sever- which was already a tenant at 919 connect its new space with its exist-

919 THIRD: Schulte Roth’s expansion site.

ing offices in the building. As part of its expansion, Schulte Roth will vacate the building’s 11th floor. The other 11th-floor tenant, Fairfield Greenwich Partners,is also leaving, relocating to larger offices a few blocks away at 55 E. 52nd St. New York Marine and General Insurance Co. is gobbling up the 11th floor. It signed a 10-year lease for 30,600 square feet, for a total of 65,000 square feet at the building. “We have been looking for more space in the building for years, liter- ally calling every tenant to see if they were leaving,”says Erik Schmall,the broker at Studley who represented New York Marine and General In- surance Co. “If we hadn’t been able to expand, we would have moved a division of the company out of the building.” “This was a complicated transac- tion that was two years in the mak- ing,” says Steven Durels, head of leasing for the landlord, SL Green Realty Corp. Other tenants in the building in- clude law firm Debevoise & Plimp- ton, marketing firm DraftWorld- wide and financial advisory firm Sandler O’Neill & Partners. WHY SHOULD YOU BE QUOTING HIP? —julie satow ASK THE BROKER WHO TOOK YOUR SALE. Growing Uniqlo If you’re not quoting HIP, you can rest assured that your competition is. finds bigger site

* a year after entering the U.S. • 6% Commission on HIP Select EPO/PPO market,Japanese retailer Uniqlo has • 4% Commission on HIP Classic HMO outgrown its local headquarters. The company is relocating its offices and design studios to a 14,300- • Plans starting as low as $223/mo. • Free eyeglasses, massage therapy, $200 gym square-foot space at 101 Sixth Ave., • Leading facilities like Montefiore Medical Center, reimbursement and alternative medicine.** North Shore / Long Island Jewish and Lenox Hill Hospital. • Rated “excellent” by the National Committee for • 25,000 physicians in neighborhoods where your Quality Assurance for Commercial HMO & POS plans. clients live and work. • Flexible cost-sharing options available. • A broad range of products to suit your client’s needs for both slice or full replacement.

Call for more Visit HIPUSA.COM UNIQLO is moving its offices to . information: 1-888-447-7864

* For new business on Select EPO/PPO only. Accredited by the National Committee for Quality Assurance (NCQA). A nationally recognized between Grand and Watts streets. ** Only applies to HIP Classic and Small Group HIP Select EPO/PPO products. evaluation that purchasers, regulators, and consumers can use to assess managed care plans. Uniqlo will decamp from a ® 2007 HIP Health Plan of New York. Commercial HMO and Commercial Point-of-Service plans. 3,400-square-foot space at 155 Spring St. by the end of the month. The new site, located within walk-

32 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 33 6/7/2007 1:54 PM Page 1

REAL ESTATE Demo M5 business phone service and get a free iPod + 2 more free iPods when you become a customer! (Offer is for 3 iPod Nanos. Offer expires June 30, 2007. Serious inquiries from management only.) ing distance of its U.S.flagship store on Broadway, will feature plenty of REAL ESTATE • Get more sales with outbound real-time sales call tracking room for growth. • Increase marketing ROI by dynamically assigning phone numbers to “They regularly have a group of AND MORE ONLINE With M5, your business can marketing campaigns to track results designers visit from Japan, and they AT CRAIN’S SITE have Fortune 500 phone • Seasonally increase and decrease the number of phones needed to be able to accommodate service without buying • Telecommute with full functionality office phones at home them,” says Michelle Stone, the phone system hardware Sinvin Realty broker who negotiat- and without hiring staff • Give enterprise class phone service to your mid-sized business ed the two-year deal for Uniqlo. to manage the phone Ms. Stone says that executives system. signed a relatively short lease in case As featured on: Uniqlo outgrows the location. The 1.866.873.4074 lease comes with one three-year op- tion. The asking rent was $27 per square foot. Tuesday e-mail Sign up today for Uniqlo operates four permanent Crain’s Real Estate Insider, a new stores and several temporary “pop- weekly e-mail newsletter featuring up” shops in the United States. The the latest deals, events and per- company is aggressively seeking sonnel moves in one of the hot- new locations around the country. Mark Weiss, a principal at New- test industries. To register, go to mark Knight Frank, represented www.NewYorkBusiness.com/ sublessor SEIU Local 32BJ in the signup. deal. Breaking news E-mail alerts —elisabeth butler keep you up-to-date on developments as they happen. Architects have Company alerts Visitors to Crain’s Web site can sign up for downtown designs e-mail alerts that provide news an architecture and design firm about a particular brokerage. is moving from Union Square to Residential real estate Coming lower Manhattan. NBBJ has signed soon: an interactive Crain’s guide a 10-year lease for 16,000 square with the inside scoop on feet,or the entire 25th floor,at 2 Rec- available properties. tor St., between Greenwich Street Resources Get easy links to government agencies and industry groups. Events View a current listing of local meetings, seminars and other networking events. Back issues Use the archives to find Crain’s stories in any previous WORKING TOGETHER. edition of the paper. Subscribe Use the “Subscribe now” button to get the weekly print edition of Crain’s and GETTING IT DONE. digital subscriptions to the newspaper.

2 RECTOR ST. will house architects NBBJ.

and Trinity Place.The asking rent at the building is $42 a square foot. NBBJ, which designed the Si- mon Wiesenthal Center’s New York Tolerance Center at 226 E. 42nd ERNEST KLEIN St.,is relocating from 85 Fifth Ave., between East 16th and East 17th streets. & CO. The firm “was thrilled by the tremendous views and light offered  FINE FOODS  by the 25th floor,” says Cynthia Wasserberger, the broker at Jones  Same Day Delivery Lang LaSalle who represented the  Phone Orders tenant. In addition, the building’s floor plate fits well with the compa-  Corporate Accounts ny’s plans for its new space,she adds. Mitchell Konsker and Frank  Catered Luncheons WWW.CWCAPITAL.COM Cento, brokers at Cushman & Located at: Wakefield Inc., represented land- lord Stellar Management. Sixth Ave. and 55th St. For more information or to discuss your specific financing needs, contact: Other tenants in the building in- 212.245.7720 MICHAEL COTLER | 646.253.8809 | [email protected] clude ABN Amro Bank and Merrill Lynch. A FULL SERVICE SUPERMARKET MARC YOUNG | 646.253.8838 | [email protected] —julie satow

June 11, 2007 | Crain’s New York Business | 33 Project4 6/5/07 1:58 PM Page 1

England. Just one of over 190 countries where we’re raising the bar.

Introducing the BlackBerry® Curve™

> Callers can easily reach you abroad on your wireless AT&T number. > Calling and data plans with low international rates. Wireless from AT&T. Formerly Cingular.

Call 1-866-246-4852 to activate international roaming. ©2007 AT&T Knowledge Ventures. All rights reserved. AT&T, AT&T logo, Cingular, and Cingular logos are trademarks of AT&T Knowledge Ventures and/or AT&T affiliated companies. CNYB 06-11-07 A 35 6/7/2007 7:18 PM Page 1

BUSINESS INSIDE Living Large Two condos for two brothers PAGE 36 Corporate Ladder Small is beautiful for cosmetics exec PAGE 37 buck ennis

GOTHAM GIGS Bird’s-eye view YVETTA POKORNY, 54, is a senior wild-animal keeper at the Bronx Zoo, in charge of large birds. She prepares their food, designs their exhibits and helps keep them healthy. WHERE THE BUFFALO ROAM In the late 1980s, Ms. Pokorny fled Communist Czecho- slovakia, where she had worked for a large-animal vet. Walking down a Bronx street one day, she smelled bison, followed the scent to the zoo and applied for a job. STORKS DELIVER BABIES Her pet project is the endangered Lesser Adjutant Stork, which had never bred in captivity. But under the care of Ms. Pokorny’s team, the zoo’s pair has produced nine healthy chicks in the past 15 years. “Sometimes I like to stay here after the zoo closes—that’s when you really see the relationships develop,” she says. Last year, she studied the species in its native Cambodia. LEAN ON ME When the male stork was found to have bone cancer, Ms. Pokorny helped him stand and walk after his CHILD AS PARENT: surgery.That’s no small task, Richard Rodriguez as the birds are about 5 feet has been translating tall. She even researched menus for his prosthetic limbs. He has since mother, Marcolina, since he was a boy. fathered three chicks.

—hilary potkewitz buck ennis

EXPERT OPINIONS BY AMANDA FUNG HOW CAN I GET ello”and “how are you?” That’s the extent of A CHEAP CAR RENTAL? Speaking the English spoken by Richard Rodriguez’s new york city prices are mother, Marcolina, who emigrated from Cuba absurd.Take the PATH train more than three decades ago. As a boy in New out of the city and rent in York, Mr. Rodriguez was her translator. He Hoboken. Or try a local for the signed leases, wrote checks and escorted her to agency like New York Rent- A-Car, which is less expensive doctor appointments. because it has older vehicles. “I missed out on being a child,” says Mr. You can also save by bidding Rodriguez, 30, whose parents divorced when he on Priceline or Hotwire. If parents you want to rack up points was in his teens. “My friends hung out and enrolled in Little League. I was with a national company like Immigrants’ adult children there to support my mom.” Hertz, make a reservation a He still fills that role. Mr. Rodriguez, who once launched a company and month in advance, then make handle the details of life is now a marketing executive at a nonprofit, and See CHILDREN on Page 36 a new one if the price drops. Another option is Zipcar, which charges membership U.S. CENSUS BUREAU SAYS fees to rent a vehicle regularly. Percentage of foreign-language- —pauline frommer 11.7% 5.8% 4.4% 0.7% Author speaking New Yorkers who are SPANISH OTHER INDO - ASIAN AND OTHER Pauline Frommer’s New York not proficient in English EUROPEAN PACIFIC ISLANDER

June 11, 2007 | Crain’s New York Business | 35 CNYB 06-11-07 A 36 6/7/2007 6:20 PM Page 1

BUSINESS LIVES LIVING LARGE HE AIN’T HEAVY: High-end appliances helped sell Bradley (left) and Evan Bailyn All-in-the-family on 10 West End Ave. condo living

Adjacent apartments The brothers, who will vacate their neighboring apartments in the a must for close Riverbank West, on 43rd Street, started their search on Corcoran’s siblings; will share Web site. After scoping out nine terrace space new condo buildings, they found a matching set of apartments at 485 Fifth Ave. BY MARGARET JAWORSKI “We didn’t love the neighbor- hood, but the building had invest- ver since they graduat- ment potential and high-end ed from college, Evan amenities,” Bradley says. Bailyn, 26, and his

brother, Bradley, 28, False start buck ennis have lived next door to in december 2006,two months af- Eeach other. The siblings, who grew ter they had made deposits, the de- VITAL STATS cluding a ghostwriting firm at end, they went to Beckenstein Fab- up on Long Island, will remain con- veloper sold the building to a hotel www.pegr.com, and Sculptor.org, ric & Interiors on West 20th Street nected by real estate when they move corporation. “Our money was re- PROPERTIES Two 1-bedroom, which sells “museum quality” work. for window treatments.Traditional- this summer into one-bedroom con- funded, but we had wasted a lot of 1-bath condos Evan says Cartoon Doll is one of the ist Bradley chose gold velvet drapes dos on the third floor of 10 West End time,” Evan says. ADDRESSES 10 West End Ave., top five online destinations for girls with sheer liners modeled on old Ave., a new, 33-story building. The brothers went back to the 3E and 3F ages 6 to 16. Plaza Hotel suites. Evan went for “We close on July 2,” says Corcoran site, where they found a blue velvet curtains to complement ASKING PRICES All about “we” Bradley, an attorney.“We’ve already building on West 60th Street. They $894,000 and $810,000 his four Disney paintings by James scheduled deliveries and workmen liked it, but the “attitude of the sales as if living in close proximity Coleman and Peter Ellenshaw. for July 3.” staff put us off,”Evan says.Still,lady PURCHASE PRICES isn’t enough together time, Bradley They also bought eye-catching Given Manhattan’s real estate luck was with them. Turning the $894,000 and $810,000 joined his brother’s company as crystal chandeliers for their living market, finding one apartment is no corner, they spied 10 West End. CLOSING DATE July 2, 2007 counsel after a brief career as a di- rooms and bedrooms. Each apart- easy task.Finding a perfect pair calls “We went in to look and walked vorce attorney.“Divorce law was too ment will have crown molding, for a double dose of luck. out as condo owners,” Evan says. depressing,” he says. wainscoting and a gel fuel fireplace The Bailyns’ quest for the ideal The brothers,who even paid the full coutrement—a built-in wine cooler. There’s a “we” in nearly every- in the living room. One difference adjacency began over a year ago.“Af- asking price, were smitten by the The residents-only, 2,300-square- thing the Bailyns do. They even between them: Evan wants a com- ter two years of living in rentals, we 284-square-foot terraces off their foot fitness center, 50-foot lap pool share a dog with baby brother Rus- fortable sofa he can sink into, while were ready to invest in real estate,” apartments, which they plan to and valet parking didn’t hurt. sell, a financial planner who choos- Bradley is leaning toward an au- says Evan, chief executive of Car- combine. Evan has already set up a blog for es to live independently. thentic Louis XIV piece. toon Doll Emporium, a popular Though the terraces cinched the owners in the building, and the The new homeowners plan to When they finish decorating,the Web site for tween girls. deal, other selling points included brothers are e-mailing with some of spend about $100,000 each to dec- Bailyns plan to go to the West Their strong preference to buy in nearly floor-to-ceiling, west-facing them. The Internet entrepreneur is orate their pads. Evan’s girlfriend, Coast. “We want to buy property a new building was also practical, as windows in the living room;kitchens the blog’s primary contributor. “It’s Cheryl, doesn’t appear to be a third there,” Evan says. Adjacent proper- the chances of finding adjoining outfitted with a Sub-Zero refrigera- what I do,” he says. wheel. She even hooked the broth- ty, of course. apartments in an established prop- tor, Viking stove and Bosch dish- His company, The Penn Group, ers up with an interior designer. erty were slim. washer;and the brothers’favorite ac- owns several Internet businesses in- Over the Memorial Day week- COMMENTS? [email protected] Children as parents’ translators MATTERS OF INTERPRETATION HAVING IN-LAWS who don’t speak English can be a burden. Continued from Page 35 tasks for their parents. Some would decided not to learn English be- “I’m embarrassed to admit it, but it’s hard for me to communicate with my his wife, Nancy, an auditor at finan- never think of taking a job outside of cause they could surround them- in-laws,” says Charles Massimo, whose wife, Stella, does a lot for her Greek cial consultant BDO Seidman, care the area and didn’t consider going selves with family and friends and parents. for Marcolina in their 1,375- away to college.Those who did end- work for Greek-speaking employ- But Mr. Massimo, a wealth management adviser in Garden City, L.I., says square-foot Washington Heights ed up making frequent visits home ers. They have always relied on her he empathizes with his wife. Some of his clients accompany their immigrant apartment. Married for three years, and often moved back in with their and her older sister, Angela. parents to his office for services, he says, and the children almost always the couple escape on weekends to parents after graduation. “Angela does their finances, and serve as translators. their house in the Poconos. “It’s an additional burden they I do the other things,”Ms.Massimo “It’s a major challenge” for them, he says. Mr. Rodriguez is not alone. have to manage that other people says. Many young professionals who are don’t,” says Marianne Yoshioka, an It is not uncommon for siblings first-generation Americans balance assistant dean at the Columbia Uni- to share such responsibilities. Win- alarm was going off. They don’t versity,in Providence,R.I.,but came their careers and lives with their versity School of Social Work. “Im- nie Siu, 39, is the youngest of six know enough English to communi- back every month to take care of continuing roles as concierges for migrant parents demand a lot of children of Chinese immigrants cate with their building super, so things. She didn’t move out of the parents who never learned English. their children’s time.” who came here 35 years ago; only Ms. Siu made the call. family home until she got married at Stella Massimo, 42, is a 20- she and one brother are bilingual. Similarly, Tatiana Wah, 45, who age 28. Getting by, with help minute drive from her folks, Greek Since Ms. Siu was 8, they have split moved to Brooklyn from Haiti over Despite the burden, many adult according to the latest data immigrants who live in Bayside, the duties of translating, check- 30 years ago with her mother, refers children of immigrants say the ex- from the U.S. Census Bureau, near- Queens. The stay-at-home mom of writing and finding bilingual doc- to herself as the “form filler.” perience helped them in many ly a quarter of the city’s almost 8 7-year-old triplets makes time al- tors for their parents. ways. million people are not English-pro- most every day to ferry her parents “I have a flexible lifestyle—that Stressful role Mr. Rodriguez attributes his ficient. Part of the reason is that on errands. is a key factor,” says Ms. Siu, who her continuing role in her business success to his mother, who New York’s established immigrant “They never learned to drive be- works for J.P.Morgan Chase out of mother’s life is stressful, she says. commuted every day to Penn Sta- communities are worlds unto cause they can’t read traffic signs,” her home in Forest Hills, Queens, “You’re in the middle of doing tion, where she worked at a flower themselves. Ms. Massimo says. They used to where she lives with her husband your own thing, and suddenly you shop until she was diagnosed with Many adult children of those take public transportation but are and two daughters. Her parents live have to drop everything for your epilepsy. “I live by a motto Mom who didn’t learn English take on a now in their 70s, which makes get- in Manhattan. parent,” says Ms. Wah, an urban taught me: What doesn’t kill you job-like responsibility in childhood ting around more difficult for them. A few weeks ago, Ms. Siu was policy professor at The New School makes you stronger.” that influences their careers. They Ms. Massimo says her parents, working when her parents phoned and mother of a 14-year-old son. use vacation days to take care of who arrived in New York in 1967, because their carbon monoxide Ms. Wah attended Brown Uni- COMMENTS? [email protected]

36 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 37 6/7/2007 7:14 PM Page 1

BUSINESS LIVES CORPORATE LADDER Jill Scalamandre Smaller is beautiful Cosmetics veteran happy. “They’re ambitious,” Ms. Scala- PERSONNEL FILE developing disparate mandre says. “But they set realistic brands for tiny firm, goals, and we will meet them.” COMPANY Chrysallis Chrysallis generated revenue of TITLE Chief marketing officer about $125 million last year,accord- with budget to match ing to industry sources. AGE 48 RÉSUMÉ BY ELISABETH BUTLER Where lines meet Senior vice president, global beauty brands, Avon Prod- ms. scalamandre needs every tool ucts Inc.; general manager, Prada he résumé of Jill Scala- in her bag to manage the varied lines. Beauty, the Prada Group mandre reads like a Frédéric Fekkai, the biggest of the who’s who of the beauty three, sells in luxury department HOBBIES Going to the movies business.During a near- stores and its own salons. READING NOW Eat, Pray, Love: ly 30-year career with Dermatologists and plastic sur- One Woman’s Search for Every- TRevlon, Prada and Avon, she has geons stock Nia 24,a brightener that thing Across Italy, India and managed some of the best-known evens out skin tone and reduces age Indonesia by Elizabeth Gilbert cosmetic and skin care lines. spots. Youthful makeup line Pout,

The Long Island native is now featuring flirty lip glosses and bold buck ennis focusing on a new trove of beauty eye shadows, has a large following in brands as chief marketing officer at Europe and sells primarily in Victo- for shelf space with major players, make Revlon the country’s biggest was responsible for global market- Chrysallis, a holding company. In ria’s Secret and Sephora stores in the including New York-based Estée cosmetics company. ing strategies,tending to business in this newly created position, Ms. United States. Lauder. A limited budget gives Ms. 143 countries. Scalamandre will guide product de- The marketing whiz, who also Scalamandre less room for error Decision maker Annette Golden, who hired Ms. velopment and advertising for three serves as chairwoman of trade group than deep-pocketed rivals. “i’m collaborative, but I’m also Scalamandre at Revlon and has re- lines,including Frédéric Fekkai hair Cosmetic Executive Women, has She has a history of betting right. very decisive,” Ms. Scalamandre mained her mentor,says her protégé products. In addition to growing been taking notes in her signature The executive, whose youthful skin says. “I want to hear everyone’s will make the most of Chrysallis’ sales globally, she’ll ferret out more black Moleskin book on how to im- belies her age, made her mark in opinion,but then I’ll make the deci- small size. acquisition targets. prove the brands since spring.That’s 1994 when she spearheaded the in- sion.”The ColorStay brand now in- “The fewer layers, the less ap- Manhattan-based Chrysallis, when Chrysallis’ new chief execu- troduction of Revlon’s ColorStay, cludes all types of makeup and re- proval you need and the closer [your part of private equity firm Catterton tive, Melisse Shaban, approached the first “kiss-proof ” lipstick. mains a best seller. products] will be to the original vi- Partners in Greenwich,Conn.,is far Ms. Scalamandre about the job. Many of her colleagues doubted A list of such successes backs up sion,” says Ms. Golden, who is now smaller than her previous employ- She jots down ideas about over- that the product—available only in her confidence. She oversaw the retired. “She can really take advan- ers. Ms. Scalamandre faces tremen- coming fierce competition and matte—would catch on. But that launch of Prada Beauty, which tage when she sees an opportunity.” dous pressure to develop the divi- adding products and vendors. Rela- didn’t stop Ms. Scalamandre from opened with skin care products and sions quickly and keep her bosses tively tiny Chrysallis must compete championing the line,which helped later added makeup. At Avon, she COMMENTS? [email protected]

Developers of Custom Solutions, En-GaugeEn-Gauge Built to Meet Your Needs YourYour People!People! Attend A Free Seminar Friday, June 22, 2007 Best Practices: Incentive Program Design Conducted by expert New York Performance Improvement Agency with client presentation by NEC America and demo of New Dashboard Incentive platform Dedicated accountants and consultants providing personalized accounting, Held at Trump National Golf Club auditing, and tax services to the Register at www.incentivegroup.com real estate industry. or by calling 914-948-0904

622 88 Froehlich Farm Boulevard For more information, contact us today at: New York, NY 10017 Woodbury, NY 11797 212 503 8846 [email protected] www.markspaneth.com

June 11, 2007 | Crain’s New York Business | 37 CNYB 06-11-07 A 38 6/7/2007 6:18 PM Page 1

BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING Ernst & Young: Patricia Pruden, 50, joined HOT JOBS as partner. She was formerly managing member and co-owner of Patterson Pruden. WANTED: CHIEF KPMG: Timothy P.Flynn, 50, was named chairman of KPMG International and FINANCIAL continues as chairman and chief executive of KPMG. OFFICER Kroll Zolfo Cooper: Robert Warshauer,49, joined as managing director. He was COMPANY Jefferies Group Inc. formerly president at Lighting Science Group Corp. JOB DESCRIPTION Managing the Morris Anderson & Associates Ltd.: more than $3 billion that the Mitchel Steiner, 52, joined as managing company oversees for its clients director. He had been vice president and field examination manager at Webster MOST IMPORTANT TASKS Main- Business Credit Corp. taining financial stability and helping Jefferies expand its asset FINANCE & INSURANCE management business Evercore Partners: Francois Maisonrouge, 48, joined as senior managing director. CREDENTIALS NEEDED Proven He was formerly managing director and financial management experi- chairman of life sciences at Credit Suisse. ence New York Life Insurance Co.: Sara Badler, 46, was promoted to senior vice SALARY Former CFO made president from first vice president and $2,688,434 in 2006 total com- continues as deputy general counsel. pensation Richard Taigue, 58, was promoted to first vice president from vice president and RECRUITER Russell Reynolds continues as deputy general counsel. Associates DOWNSIDE Dealing with the stig- HIGH TECH & NEW MEDIA SalemGlobal Internet Website Marketing: ma stemming from $10 million in Dov Weinstock, 46, was promoted to fines that Jefferies paid in 2006 president from chief marketing officer. for improper courting of Fidelity Tacoda: Lee Blickstein, 32, was promoted Investments traders to director of Eastern advertising sales from Eastern region sales manager. UPSIDE Playing a key role in managing a firm that reported at HOSPITALITY & TOURISM least 30% growth in both sales Westin New York at : Frank and net income last year Tujague, 33, joined as executive chef. He had been banquet chef at the Sheraton Former CFO Joseph Schenk, who New York Hotel & Towers. has held the job since 2000, Robert DeMaria, 49, joined as director of announced that he will retire by catering. He was formerly director of the end of the year. He will catering at the Warwick New York Hotel. remain in his position until a suc- LAW cessor is named and will assist King & Spalding: Ethan Horwitz,55, with the transition. Jefferies is a joined as partner. He had been a partner global investment bank and at Goodwin Procter. financial services firm with 25 Quinn Emanuel Urquhart Oliver & Hedges: offices around the world. Robert S. Loigman, 38, joined as partner. —KIRA BINDRIM He had been a partner at Friedman Kaplan Seiler & Adelman. Sidley Austin: Jonathan L. Freedman,50, joined as partner. He had been a partner at Dewey Ballantine. development for the eLabs division. Jonathan J. Kelly, 36, joined as partner. He had been a partner at Dewey REAL ESTATE Ballantine. Clarett Group: Eric J. Deutsch, 40, joined as Jeff S. Liebmann, 57, joined as partner. managing director. He was president of He had been a partner at Dewey the Alliance for Downtown New York. Ballantine. Marketing Directors Inc.: Jacqueline Urgo, 44, was promoted to president from MEDIA & ENTERTAINMENT executive vice president. Financial Times: Stephen Howe, 52, was Martin Brady, 46, rejoined as vice promoted to president in the Americas president of sales. He had been vice from senior vice president. president and director of sales at Baker Hearst Magazines: Stefanie Rapp, 33, was Real Estate Corp. named advertising director for Town & Staubach Co.: Paul A. Formichelli, 32, was Country, Town & Country Travel and promoted to managing director from Town & Country Weddings magazines. director. She had been beauty sales development James Wenk, 30 was promoted to director at W Magazine. managing director from director. Marvel Entertainment Inc.: Alan Fine,56, Vornado Realty Trust: Glen J. Weiss,37, was named executive vice president and was promoted to senior vice president chief marketing officer for Marvel and director of leasing from vice characters. He had been chief executive, president, leasing. publishing and toy divisions. MSG Media: Heather Pariseau,35,was TELECOMMUNICATIONS named vice president of interactive pro- RCN Corp.: Anthony Ontiveros,47,was gramming and operations. She was promoted to vice president, general director of operations at AOL Local. manager, from regional director of sales Erin Franzman, 31, was named director and marketing. of programming for MSG Interactive. —adrianne pasquarelli She had been East Coast managing editor of AOL CityGuide. Universal Music Group: Jeffrey EXECUTIVE PROMOTIONS Bronikowski, 37, was promoted to The fastest way to get an announcement into senior vice president of business Crain’s is to submit details online. Fill out the form development, global digital initiatives, at www.NewYorkBusiness.com/submit. The from vice president of business. Executive Moves column is also available online.

38 | Crain’s New York Business | June 11, 2007 CNYB 06-11-07 A 39 6/7/2007 4:45 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape Suburban spot for all seasons L.I.’s Four Food Studio offers new menu, decor for each time of year; voices carry

our food studio and Cocktail Salon conjures up boxcar numbers. One of the flashiest

and splashiest eating adler arnold Fand drinking spots to open on Long MODERNIST ATTRACTION: Four Food Studio and Cocktail Salon is one of the flashiest eating and drinking spots to open on Long Island in years. Island in years, the modernist restaurant and lounge in Melville FOUR FOOD cost $4 million to build. The four- STUDIO AND eler chef McDevitt has owned high- braised short ribs are another fine with White Plains results in the best season design is by Manhattan- COCKTAIL SALON ly rated restaurants in Arizona and dish, with fingerling potato purée Indian restaurant outside New York based Karim Rashid,an Armani and 515 Broadhollow Road (Route 110) California. He received a Best New and roasted onions. Wild king City and one of the best in America. Prada favorite. Chef award from Food and Wine salmon gets a rhubarb and sweet Melville, L.I. Lime and other greens signal the (631) 577-4444 magazine and a James Beard Foun- onion purée, and a salad of spring David Burke Fromagerie spring lounge; the summer bar is dation Rising Star nomination. onions and fava beans.Trio of rabbit 26 Ridge Road (at Avenue of Two dominated by a giant TV projection For Four, he creates a seasonal is tender perfection, done as bacon- Rivers), Rumson, N.J. screen; warm woods denote autumn menu every 13 weeks. Appetizers wrapped rack, pistachio-crusted (732) 842-8088. Mr. Burke and his in the main dining room. CUISINE Modern American ($9 to $19) are infused with zesty loin and leg confit over polenta. culinary crew celebrate the chef ’s re- The Igloo of winter is naturally WINES 130 choices, 20 by the Asian-American influences that Another fun dish to share is the turn to his rustic roots. white. It’s also the one admitted de- glass taste as good as they look. Fiery bento-like Four Way dessert ($14). sign flaw, with those rare acoustics crispy calamari is served with pa- A segmented plate holds the likes of A’Tavola Bistro 385 ½ enabling guests at some tables to DRESS No code paya, lychee and watercress on a bed caramelized sliced banana with 385 Halstead Ave., Harrison, N.Y. hear every word said at others,with- NOISE LEVEL Variable of spicy lemongrass sauce. The un- caramel ice cream, lemon-scented (914) 381-6050. An outstanding out trying. Winter also has a fire- PRICE RANGE $26-$39; derpinnings of succulent tuna sashi- polenta cake with blackberry- neighborhood spot in Westchester place where a video of a log fire plays three-course sunset dinner, mi tempura are avocado relish and cabernet sorbet,and a chocolate-ba- with very good food and a friendly, wasabi soy.Hoisin-glazed baby back nana spring roll. year-round. 4-6:30 p.m., $29 informal atmosphere. Co-owner Ray Sidhom is chief ribs, with peanuts and pickled wa- One of the best things about executive of Evo Merchant Ser- WINE MARKUP 75%-275% termelon, fall from the bone. Suave Four Food Studio is that as much Chakra ½ vices,which occupies the lion’s share CREDIT CARDS All major foie gras is marinated in miso and thought as money has gone into it. 144 W. Route 4 East (just past of the warehouse-like structure on presented with seared yellowfin Even the “medicine” of the check Loehmann’s), Paramus, N.J. Route 110 and processes $8 billion RESERVATIONS Recommended tuna and a citrus gastrique. goes down easier with a magical (201) 556-1530. Exotically romantic in credit card transactions a year. HOURS Lunch, Mon.-Fri., 11 a.m.- The business crowd comes to swirl of cotton candy. trappings for a hot meeting-and- Operating co-owner Jay Gross- 3 p.m.; Dinner, Mon.-Wed., 5-11 lunch for Kobe sliders with banana eating spot not that far from the man is a 20-year veteran of the Is- p.m., Thurs.-Sat., 5 p.m.-midnight; ketchup or to relax after work with COMMENTS? [email protected] city. New American cuisine with land’s hospitality scene,having start- Brunch, Sun., 11 a.m.-3 p.m. shared items, such as four-cheese Asian accents, 500 wines and fun ed in his teens as food runner in a fondue or chilled seafood platters. specialty cocktails. BEST OF BOB LAPE small eatery.He now directs a color- = Outstanding Pomegranate martinis are the most = Excellent ful, sleek and sophisticated 160-seat popular potable—as waiters sell the Valbella Steakhouse ½ showplace rich in attentive, intelli- = Very good antioxidant properties of the fruit. Following are other suburban 754 White Plains Road (next to Lord = Good gent service and highly appealing Now’s the season for the crunchy restaurants reviewed recently. & Taylor), Scarsdale, N.Y. (914) 725- food. thrill of New Caledonian blue soft- 0566. The latest version of the Man- Granted, the name is a bit pre- shell shrimp, entirely edible and su- Bengal Tiger hattan and Greenwich,Conn.,eater- tentious—and curb appeal is nil,due first year, Four Food Studio has a perb with spring garlic risotto. 144 East Post Road (between Court ies with everything large—prime to prolonged construction—but in- keeper in James McDevitt.The son Chanterelles, English peas, pro- Street and Mamaroneck Avenue), meats and lobsters, roomy seating, side, guests are in good hands. of an Irish-American military man sciutto and shaved parmesan fuse White Plains. (914) 948-5191.Sim- warm hospitality and fresh-baked After a couple of chef shifts in its and a Japanese mother, world-trav- flavors in a terrific gnocchi. Syrah- son Kalathara’s 31-year romance desserts. CFOs. Based on round trip purchase, excluding taxes and charges. Please see the bottom line. *

* from 30 min check-in. Flat bed. London $899 one way fly .com Call 877 FLYSILVERJET

June 11, 2007 | Crain’s New York Business | 39 Project4 5/22/07 12:34 PM Page 1

Focusing on Focusing on your your cash fl ow. growing business.

Business Line of Credit Business Installment Loan PRIME + 0% 7.65%

for the fi rst year and no annual fee for the fi rst year fi ve-year fi xed-rate loan with no fees

You have a goal to reach. We can help you get there.

Whether it’s a line of credit to cover the unexpected, or a loan to help fund your next big expansion, you’re covered either way. Just open a Citibank Business Checking Account and you’re eligible for a special low rate on our Business Line of Credit or Business Installment Loan.

Visit a Citibank branch or call 866.448.1862. citi.com/business

All applications subject to approval. Promotions subject to change or cancellation without notice. Automated debit of Line and/or Loan payment(s) from a Citibank Business Checking Account is required. Offer expires June 30, 2007. Business Line of Credit: promotion limited to line amounts up to $1,000,000. Maximum fee waiver of up to $10,000. Rate is based on Prime Rate as published in the “Money Rates” section of The Wall Street Journal plus a margin. Prime Rate is 8.25% as of 5/10/07. Margin is fi xed at 0% for fi rst 12 months from the date account is opened and is subject to change thereafter. Customer must maintain primary Business Checking Account with Citibank for the term of the account. Business Installment Loan: assumes customer makes payments as required by terms of the Loan Note; interest rate and monthly payment may increase if customer is in default under terms of the Loan Note. Loan origination fee of $250 ($300 in CA) is waived. Offer available for loan sizes from $50,000-$250,000. Customer must maintain primary business Checking Account with Citibank for the term of the loan. © 2007 Citigroup Inc. Citibank, N.A. Member FDIC. Citibank and Citi with Arc Design are registered service marks of Citigroup Inc. Let’s Get It Done i s a service mark of Citigroup Inc.