Top Cop Flashes Badge of Biz Cred

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INSIDE WHICH NY COMPANIES TOP STORIES HAVE THE Run, Forest, run: BIGGEST CASH Feds, Icahn take CUSHIONS? aim at pharma firm ® PAGE 15 PAGE 3 Stalled building VOL. XXVII, NO. 31 WWW.CRAINSNEWYORK.COM AUGUST 1-7, 2011 PRICE: $3.00 sites linger across Top cop city flashes PAGE 2 THE Corporate donors writing big checks badge of to charities again PAGE 4 biz cred In Flushing, a bid to RACE Schneiderman tries become the Penn Station of Queens to allay fears that he’s NEIGHBORHOODS, PAGE 4 another Spitzer Why Ray Kelly BY SHANE DIXON KAVANAUGH shouldn’t be mayor IS ON The swagger was familiar to New GREG DAVID, PAGE 11 York’s business community when state Sen. Eric Schneiderman campaigned for state attorney general last year.The Schools go all out hard-charging, labor-backed, Upper West Side liberal ran to the left to win for right to build the Democratic primary. He called for expanding the office’s powers, which applied sciences many businesspeople believed were already too extensive. campus in NYC “We thought it was the second coming of John Liu,”said one business insider, referring to the left-leaning BY DANIEL MASSEY city comptroller. Or much worse— See STATE’S TOP COP on Page 23 BUSINESS LIVES After the city’s bedrock financial sector tanked in 2008,Bloomberg administration officials met with hundreds of entrepreneurs, venture capitalists, GOTHAM GIGS chief executives and community leaders and in- Historic farmer P. 25 structed them to come up with a “game changing” Hospital ● ANNE FISHER idea for the local economy. Business advice for The result of that brainstorming is at hand:Top ads: They’re women, by women P. 25 applied sciences schools from around the world are scrambling for the city’s blessing to build a campus ● MOVERS & SHAKERS here. When Mayor Michael Bloomberg gave a everywhere You gotta sell a lot of mid-July speech about the competition at a Crain’s Italian ices to drive a conference, Cornell University sent at least 30 rep- Bentley P. 26 resentatives, including trustees and its president. Local med centers on ● GAEL GREENE Miss The mayor hopes the plan will propel New York Lily’s rainbow P. 27 past Silicon Valley as the world’s leading tech center, track to spend $80M a development that would define his legacy.City of- on bragging this year ficials call the contest an “Erie Canal moment” that could wean the city off Wall Street, transform the INDEX economy and create 22,000 jobs over 35 years. BY GALE SCOTT While that may be overstating things—the NEIGHBORHOOD JOURNAL ______4 city’s offer of land on Roosevelt Island, Governors It’s enough to make a New Yorker look THE INSIDER ______8 Island or at the Brooklyn Navy Yard and up to $100 forward to getting sick. VIEWPOINT ______10 million for infrastructure is relatively modest—the From billboards along the West

FOR THE RECORD ______18 contest has created worldwide buzz. Side Highway, to 60-second commer- Already, 27 institutions have formally expressed cials on prime-time TV, to full-page REAL ESTATE DEALS ______19 CLASSIFIEDS interest, and within two weeks of the release of the displays in newspapers and magazines, ______20 parameters for the project,several top applied sci- the city is awash in advertisements HOT JOBS ______25 ences institutions said they would submit pro- from hospitals touting their superla- EXECUTIVE MOVES ______25 posals by the October deadline. tive care, brilliant physicians and

THE WEEK AHEAD ______27 “We believe this is a once-in-a-lifetime op- grateful patients. Even a trip to the See THE RACE on Page 23 See HEALTHY on Page 23

ELECTRONIC EDITION NEWSPAPER 20110801-NEWS--0002,0003-NAT-CCI-CN_-- 7/29/2011 7:53 PM Page 1

IN BRIEF

IT TURNS OUT DIAMONDS ARE MANHATTAN’S BEST FRIEND, TOO. DIAMOND AND JEWELRY Whole lot of holes i businesses throughout the city generate more than $24 billion in economic impact annually, and diamonds rank as the state’s No. 1 export, Greenburger,chief executive of Time Eq- New York Building Congress, which re- according to a report commissioned by the Two years after uities.“We just secured the site and decid- cently reported that industry employ- 47th Street Business Improvement District. ed to wait until conditions improved.” ment was at a nearly 13-year low in the The city’s diamond district is home to 4,100 market bottom, 646 In 2009, when the city’s Department first quarter. businesses that together employ more than of Buildings began compiling a list of 22,000 people, 69% of them immigrants, the sites stuck on city’s stalled construction sites, that 13-acre lot Difficult financing report estimates. was on it. It is still on the list, one of about Banks’ unwillingness to make con- list of stalled projects 650, many of them in hot neighborhoods struction loans is a key piece of the picture. TWO LEGENDARY CITY RESTAURANTS—LE like lower Manhattan and Willamsburg, Borrowers without extensive track records BERNARDIN AND ‘21’ CLUB—WILL GET BY AMANDA FUNG Brooklyn. and their own cash to put into a project are makeovers in August. Le Bernardin closed this Restarting work requires banks to find out of luck, experts said. But even estab- past weekend and will reopen Sept. 9 after a In the spring of 2008, Time Equities be- new developers, owners to restructure lished players like Time Equities acknowl- renovation, while ‘21’ Club is building a 10-seat gan demolishing the three buildings at 50 debt, new investors to inject cash into edge that it’s tough to get funding. bar called Bar ‘21’ during its annual summer West St. to make way for a $600 million, projects—or some combination of those. “Financing markets are getting a little hiatus, Aug. 12 through Labor Day.The 62-story hotel and residential develop- Experts say the process will probably take better, but the larger the project, the more former speakeasy will have bar stools for the ment. Several months later, Lehman longer than it did after the last big real es- difficult it is,” Mr. Greenburger said. first time and serve beer on tap. Brothers—and the financial markets— tate downturn in the early 1990s. In other cases, lenders or special ser- crashed and the project was put on hold. “It’s hard to be optimistic when the list vicers—brought in to represent creditors EXTELL DEVELOPMENT CO. HAS REACHED A “Market conditions were too unstable of stalled sites is still so stubbornly high,” after a loan default—are delaying DEAL TO SECURE A $700 MILLION CON- to proceed at the time,” said Francis said Richard Anderson, president of the workouts in the hope that the struction loan from Bank of America Corp. for a $1.3 billion skyscraper already rising on West 57th Street, sources said. Extell broke ground early last year without a loan for what will be the tallest residential building in the city, a 1,005-foot tower across from Carnegie Hall that will include a Park Hyatt Hotel and about 135 apartments. Neither Extell President Gary Barnett or Bank of America commented. Ⅲ BY THE NUMBERS

Weekly shift of the city’s economy é GOLD AND DUNKIN’ DONUTS did famously last week. Almost everything else suffered amid more signs of a faltering recovery and political gridlock. 4.6% 1T 2.4% Drop in WATT-HOURS NYC RISE in weekday Bloomberg/ used in 4-day subway ridership Crain’s NY Stock heat wave; equals in March, vs. a Index over the last Vermont’s use in year earlier, to 5.4 five days 2 months million riders. Source: Consolidated Source: Metropolitan Edison Inc. Transportation Authority

GOING DOWN After rising steeply in the recession, bankruptcy filings in New York have been trending lower for nearly a year.

LARGE S. Eighth St. (multiple numbers) *From the Manhattan office of the Southern District and the Brooklyn office of the Eastern District. Source: U.S. Bankruptcy Court 95,275 ADDICTED TO NUMBERS? Lot size in sq. ft. GET A DAILY DOSE AT @STATSANDTHECITY

CORRECTIONS photos by buckphotos ennis MTR Corp. earned $1.56 billion in after-tax profits in 2010. The July 25 article “After exit of Walder, rough ride for MTA” stated the figure as pretax earnings. Alessandra DiGiusto, chief administrative officer and director for SOME HIGHLY CREATIVE PROPOSALS FOR CITY’S DORMANT SITES Deutsche Bank Americas Foundation, oversees grant-making activities. President Gary Hattem runs the foundation. Those Vishaan Chakrabarti Anne Pasternak Vin Cipolla facts were unclear in the July 25 feature “The Culture Club.” Director, real estate develop- President and artistic director, President, The Municipal Art vol. xxvii, no. 31, august 1, 2011—Crain’s New York Business (issn ment program, Columbia Creative Time Society of New York 8756-789x) is published weekly, except for double issues the weeks of University LOCAL MUSICIANS could THERE COULD be stages July Fourth, Labor Day and Christmas, by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at CREATE a virtual Museum of the compose pieces that reflect the featuring live dance New York, N.Y., and additional mailing offices. Postmaster: Send Streets of New York in empty neighborhood or the history of performances. The possibilities address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber serv- lots across the city with an art installation the site, so that when people get close they can are endless. There is so much pent-up desire on a ice: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a copy, $59.79 one series that tells a story and is managed by one be surprised and uplifted through the audio. the part of the creative community to express p year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2011 by Crain Communications Inc. entity that would program and curate all the itself. a All rights reserved. spaces.

2 | Crain’s New York Business | August 1, 2011 20110801-NEWS--0002,0003-NAT-CCI-CN_-- 7/29/2011 7:53 PM Page 2 s in the ground

market will improve. ularly gets calls from developers interest- the list has existed, he said, adding that “Special servicers are selling some ed in restarting work. His response is that “there are projects that are shaking out.” notes, but not as aggressively as anyone they must be prepared to “start from Several of the revivals are in Williams- anticipated,” said Robert Knakal, chair- scratch,” Mr. West said. burg. Condo projects such as 111 Kent man of Massey Knakal Realty Services. Since peaking at 710 in November, Ave. and 175 Kent Ave. have been re- Some projects have found new owners the number of stalled sites has been de- vived, albeit as luxury rentals. or have received equity injections but are clining steadily,a trend that is expected to Mr. LiMandri notes that it is actually still not progressing,as owners struggle to continue. a positive sign that only 20 developers adjust to new realities that can range from “There was a period when no one was have entered a 2-year-old program that zoning changes to shifts in buyer prefer- doing anything, and things were bleak,” lets them renew expired building permits ence. said Robert LiMandri, at stalled projects for up to four years if David West, commissioner of the De- they agree to follow strict safety guide- partner at Gold- partment of Buildings. lines. The commissioner had expected stein Hill & About 550 sites have more demand for the program, designed West Ar- restarted in the to help developers start building again. chitects, two years See STALLED on Page 24 reg-

LONG HAUL: Howard Solomon, 83, has led Forest Laboratories for more than 30 years. bloomberg news Bitter pill for chief of Forest Labs Long-serving CEO faces wrath of feds—and Icahn

HARD HIT: WEST WILLIAMSBURG, BROOKLYN BY AARON ELSTEIN

OLD Howard Solomon, the chairman, CEO and president On list since 4/7/09 of Forest Laboratories, began his latest annual letter to shareholders by touting the company’s line of 212 N. Ninth promising new drugs: “This year may be the most re- St. markable year in Forest’s history, or maybe in the history of any pharmaceutical company.” 7,338 It may well be that, but not for the reasons Mr. Lot size in sq. ft. Solomon suggested as Forest faces pressure from both outraged federal regulators and a famous corporate raider. NEW Mr. Solomon, 83, is one of New York’s most On list since 8/3/10 durable and successful CEOs. Over his 34-year tenure, he’s transformed Forest from a tiny company 205 N. Seventh into a giant valued at $11 billion. Along the way, he St. has generated average annual shareholder returns of 23%—just a hair below Warren Buffett’s 24%. But now, Washington could force Mr. Solomon to abdi- 3,519 cate his throne. Lot size in sq. ft. Uncle Sam plays hardball The government,fed up with Forest’s encouraging doctors to prescribe for children antidepressants approved only for adults, has demanded that Mr. NUMBER OF STALLED CONSTRUCTION BROOKLYN 299 QUEENS 135 MANHATTAN 128 STATEN ISLAND 52 BRONX 32 TOTAL 646 Solomon be sent packing.If the company fails to com- SITES AS OF JULY 24 Source: NYC Department of Buildings ply, Washington will effectively bar Medicare and Medicaid from buying its drugs. Such a move “could amount to a corporate death sentence,” according to a James Crispino Brad Lander Stephen Yablon memo co-authored by Kenneth Breen, a partner at President, Francis Cauffman City Councilman, Principal, Stephen Yablon Paul Hastings, a law firm that has represented Forest Architects Brooklyn Architect in the past. ON THE LOT at East 33rd and A PROJECT at 23 Caton Place in THESE SPOTS could be Uncle Sam’s hardball approach,coming six months Madison, build a distinctly New Kensington that stopped at campsites for tourists who don’t after the Justice Department extracted three guilty York version of the London Eye: seven stories should be turned have a lot of money for a hotel. pleas from the company and more than $300 million n a 60-story Ferris wheel that has enclosed glass into a haunted house that would illustrate the It would be cool to look up at the stars from a in fines and penalties, has some people on Wall Street pods seating eight to 10 [for lunch or cocktails] horrors of the economic crash. hole. If there’s a building frame, put up some crying foul. and that does a full rotation every 60 minutes. protective railings. “What the government is doing to Solomon is un- fair,” said Ronny Gal, a health care analyst at Sanford See A BITTER PILL on Page 24

August 1, 2011 | Crain’s New York Business | 3 20110801-NEWS--0004-NAT-CCI-CN_-- 7/29/2011 3:17 PM Page 1

Surge in corporate cash NEIGHBORHOOD JOURNAL fills charities’ coffers Flushing-Main St. Nonprofits nervous TOP LOCAL GIVERS subway cracks that uncertainty will Companies headquartered here gave cash and product donations. again restrict giving COMPANY 2009 2010 10-busiest list Pfizer $2.35B $3.11B BY MIRIAM KREININ SOUCCAR Bristol-Myers Squibb $283.6M $473.4M Boosters push for Goldman Sachs $69.6M $315.4M Corporations are once again writing $105.2M $216.5M upgrade as 18.6M big checks to charities, in many cas- JPMorgan Chase es for the same or even larger Citigroup $94.7M $109.8M riders flow through amounts than before the recession. Source: Chronicle of Philanthropy Cash gifts rose 13% last year BY HILARY POTKEWITZ from 2009, a huge relief to nonprofits, which had weathered a decline hen people think of 7.5%,according to a survey of 180 of the most companies by the Chronicle of Phil- heavily used FOOT TRAFFIC is heavy around the station. anthropy, released last week. With subway stations, the inclusion of product donations, hubs like Times corporate giving rose nearly 20%. Square,W Penn Station and Union “On a Sunday night around 9 p.m., “There is a rebound,”said Alison Square quickly come to mind. you’d think it was Saturday.” Rose, manager of standards and Flushing-Main Street definitely Flushing’s popularity as a food measurement at the Committee does not, but it should. destination has boosted traffic, too. Encouraging Corporate Philan- In fact, it ranked among the 10 “People know that if you love thropy. “Even amidst ongoing eco- busiest stations in the city last year, Chinese food, you should go to

nomic uncertainty, companies rec- istockphoto according to data released in June by Flushing at least once—if not 10 ognize the importance of investing the Metropolitan Transportation times,” said Alex Van Buren, con- in their communities.” moved into the No. 2 spot for cash “We’ve seen an incremental re- Authority. It was the only non- tributing editor for Chow.com. She With the fragile economic re- donations—just below Wal-Mart bound in our total giving in 2010, Manhattan stop to do so. has noticed a steady increase in covery, though, fundraising experts Stores Inc.—with a 353% rise, to and we expect 2011 will show a sub- That’s impressive for a station readers venturing to the neighbor- worry that corporate money will $315.4 million,a record for the firm. stantial increase,” said Pam Flaher- served by just one line, the No. 7, hood, with 69 postings with Flush- again stop flowing. In fact, most JPMorgan Chase & Co. gave ty,president of the Citi Foundation. which begins and ends there.Flush- ing in the title on the popular site companies in the Chronicle’s survey $216.4 million, 106% more than in Though Goldman Sachs was a ing-Main Street handled more than last month alone. expect their giving to be flat this 2009. And Citigroup gave away target of blame for the financial cri- 18.6 million riders last year, 2% year. $109.8 million, a 16% increase. sis and many suspect that its extra more than in 2009 and about a third Making the trek A number of the companies with Executives said Citigroup is giving is an attempt to blunt criti- of the number of passengers as No. Jason Wang knows about the the biggest jumps last year are based working to get its philanthropy back cism, a spokesman said that the 1 Times Square, which is served by trend first-hand. He and his father in New York. Goldman Sachs to pre-recession levels. See CORPORATIONS on Page 24 11 subway lines. started Xi’an Famous Foods five “It’s a very busy station with a years ago as a stall in a food court near huge ridership,” said Chuck the station. Xi’an’s signature spicy Apelian,a Flushing resident and the lamb and hand-pulled noodles were vice chairman and land-use chair- featured on celebrity chef Anthony man of Queens Community Board Bourdain’s No Reservations, and its 7, which includes the station. status grew among foodies willing to In fact, the last time a non-Man- trek to Flushing.The Wangs opened hattan subway station breached the three Manhattan locations last year. MTA’s Top 10 was 2003—and the “The subway definitely helped stop was Flushing-Main Street. increase overall awareness of our Some community leaders are de- business and helped us expand,”Mr. termined to capitalize on their sta- Wang said. tion’s exalted status.The communi- But despite its megastation po- ty board and other local groups are tential,Flushing-Main Street is still trying to persuade the MTA to en- small-time in some important re- large the mezzanine level,add bath- spects.Its millions of passengers an- rooms and renovate the Flushing- nually move through just six street Main Street Long Island Rail Road exits. Penn Station boasts 26, ac- station a block away—all with a cording to the MTA. grander goal in mind. And though the subway station “We have the potential to be- was renovated 12 years ago,the LIRR come the Penn Station of Queens,” station has gone virtually untouched boasts City Councilman Peter Koo, for decades.It’s an elevated train plat- whose district includes Flushing. form with no elevator, so it’s not handicap-accessible. And although Trains, buses, feet the stations are only a block apart, In the heart of Queens’ China- they are not connected. Locals are town, Flushing-Main Street has 23 hoping this year’s rankings will give bus routes radiating out to the rest of them more attention from the MTA. Queens and to Nassau County.That “The [Main Street] station can explains much of the foot traffic,says barely hold the current amount of Sarah Wyss, director of short–range passengers as it is, and as the com- bus service planning for the MTA. munity evolves we’re only going to “More people transfer between bring more people,” said Dian Yu, buses and subways in Flushing than executive director of the Flushing anywhere else in the city,”Ms.Wyss Business Improvement District. said. “We deserve attention, and we have That traffic is a boon for local the ridership to prove it. I’m just not businesses, which report strong sure the city has the money.” Ⅲ sales, even with other areas feeling the downturn’s effects. IN THE MARKETS Aaron Elstein’s “There seems to be no lull in Wall Street column returns next week. pedestrian action,” Mr. Koo said.

4 | Crain’s New York Business | August 1, 2011 CN014474 6/22/11 12:11 PM Page 1

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NEW YORK,NEW YORK edited by Valerie Block

Advertisers married to gay paper he marriage equality act is expected to bring plenty Tof economic benefits to New York state, but the new law has already proved to be a windfall for Gay City News. ¶ Advertisers ranging from local caterers to Macy’s Wedding and Gift Registry have flocked to the Manhattan-based fortnightly, which launched a special section, Love & Marriage, for its July 20 issue. Altogether, the paper carried 60 pages of ads, versus 28 in the year-earlier issue. More than 30 of its 57 advertisers were new to the publication. ¶ “There would have been way more [ads], but we had to put a cap on it,” said Troy Masters, Gay City News’ founder and associate publisher. He added that the next issue, out Aug. 3, will be the same size, and that he’ll publish the special section through the early fall. ¶ In addition to new local clients, several new national advertisers signed on. “That bodes well for the future,” said Todd Evans, president of Rivendell Media, a rep firm that books national advertising for gay and lesbian publications. ¶ Mr. Evans has seen a 25% jump in requests for proposals for New York publications since the gay marriage bill passed.That’s important, he said, because the new advertisers “become part of your base.” —matthew flamm

Mr. Merchant said, though he Butler, Amy Poehler and Donna Karan, Downtown eateries declined to give details.The operates three other locations in are really cooking majority of the company’s the city. But it’s not done marking restaurants are located downtown, its spot in New York.The firm SouthWest NY will close on Sept. where “landlords were willing to plans to open more than a dozen 26, due to the World Financial offer good deals,” he added. new centers here over the next Center renovation.The next day, —lisa fickenscher year, with further expansion into customers can walk one block other major U.S. cities, including west to Albany Street and have Los Angeles. lunch at its new home. Mr. Marrow said there’s a great Owner Abraham Merchant didn’t need for the kind of upscale pet want the successful eatery—which care Spot offers. “It’s like having generates more than 150 delivery children,” said Mr. Marrow, who orders each day and attracts a has a St. Bernard named Reggie power lunch crowd—to end its and a bullmastiff named Hank the 12-year run. Tank.“My life revolves around my In fact, Merchants Hospitality dogs.” Inc. is on a tear, despite the ailing —ian thomas economy.“We are definitely in expansion mode,” said the restaurateur, who runs the firm Where models with longtime partners Andy Emmet A HIT WITH can pedal and Richard Cohn. CELEBS: The company has opened four Donna Karan is Strutting the catwalk is one way a client of dog new restaurants over the past year, care company Fashion Week’s skinny models including Neely’s Barbecue Parlor, Spot. will get their exercise this fall. Or

a joint venture with Food Network getty images they can ride a designer bike. stars Pat and Gina Neely that opened A host of the industry’s top last month, and Merchants River Luxury digs designers, including Diane von House (below), which took over for dogs Furstenberg, Isaac Mizrahi and Nicole the former Steamers Landing Miller, have agreed to decorate space on the Hudson River The pampered pooches of the some 30 bicycles provided by Esplanade in January. Upper West Side just got new Bowery Lane Bicycles for the The company, which operates digs. Spot, a Manhattan-based event. 10 eateries, has another doggie day care company, opened “We wanted to marry the idea downtown project in the works “as the largest such facility in the city of who we are with the serious close to the water as you can get,” at 105 W. 72nd St. last week.The issue of transportation and con- location, with a 5,000-square-foot gestion in the city,” said Barbara interior, also features a 5,000- Randall, president of the Fashion square-foot, split-level outdoor Center Business Improvement space with cushioned turf and a District, which is sponsoring the pool. “It’s nicer than some of the program. “We’re celebrating eco- rooms I’ve stayed in,” said Mitch transportation and the American Marrow, a former NFL player fashion design community that turned hedge fund executive who makes its home here.” is now Spot’s chief executive. Fashion Week runs from The company, a hit with Sept. 7 through Sept. 15. celebrity pet owners like Gerard —jermaine taylor

6 | Crain’s New York Business | August 1, 2011

20110801-NEWS--0008-NAT-CCI-CN_-- 7/29/2011 7:51 PM Page 1

Transportation and a former aide to Sens. Charles Schumer and the late Daniel Patrick Moynihan. DEBT DEBACLE Democrats’ dilemma THE INSIDER Ms. Trottenberg headed Build- WHILE THE FOCUS of the debt-ceiling story in Washington, ing America’s Future, a nonprofit D.C., last week was on House Republicans’ struggles to Michael by Jeremy Smerd and Shane Dixon Kavanaugh created by Mayor unite behind a plan, their Democratic counterparts in the Bloomberg. But while the mayor has city faced their own dilemma. Any legislation to resolve the four appointees on the MTA crisis that reached them for a vote would undoubtedly board, the pick to run the world’s include cuts to the entitlements and other programs they largest mass-transit system will be cherish. At the same time, they viewed raising the debt Eliot Engel made by Gov. Andrew Cuomo, who ceiling as imperative. Public sector eyed has six. On the floor of the House, Rep. Edolphus Towns said, “I want to be sure we don’t try to solve our spending problem REBNY favors on the backs of the poor, the backs of children and on the backs of our senior citizens.” But his spokesman later for next MTA chief independent Dems acknowledged that if the choice “is between bad and terrible, the congressman will support the bad.”

The Real Estate Board of New newscom To avoid that, the city’s Democrats pushed instead for ay Walder (left) will parlay York contributed a mere $6,000 to Joseph Crowley the 26 members of the Senate President Barack Obama to raise the debt ceiling his two-year stint as Democratic conference in the past unilaterally by invoking the 14th Amendment. The idea Metropolitan Transportation six months, according to an analy- came from Bronx Rep. Eliot Engel. Authority chairman and chief sis by the New York State Public “I’ve always called it an option of last resort,” he said. “If executive into a seven-figure Interest Research Group. progress is not made, the president should invoke it and let Meanwhile, the well-heeled real the courts decide.” Jjob running Hong Kong’s estate group gave $30,900 to Bronx Mr. Engel floated the idea to Democratic House leaders, Jeff Klein who went public with it, saying the president could use the privately funded transit Sen. and each of the other Jerrold Nadler system. But insiders said that won’t three members of the Independent amendment because it guarantees U.S. debt. By the time necessarily persuade private-sector Democratic Conference. Mr. Engel held a press conference—on the corner of 14th Street and “We support people who are in- Constitution Avenue in Washington—the White House had already rejected transportation executives to leave terested in a pro-development the tactic. their lucrative posts for the headaches point of view and take a responsi- If nothing else, with the GOP lacking the votes in its conference to pass a of an MTA job that pays only about ble approach to budgeting,” said a compromise plan, House Democrats became relevant for the first time in $350,000. real estate insider. 2011, which they have spent as the chamber’s minority party. But they were Real estate interests contributed not eager to cut spending without raising taxes on high earners and buck ennis Mr. Walder was previously in $87,000 of the $813,000 raised by corporations. charge of London’s public transit system, and his successor in the independent conference in the “One side is saying we want the poor and middle class to pay a tax while New York is likely to come from the public sector as well. One last filing period. the rich and powerful don’t,” said Queens Rep. Joseph Crowley. “I can go transit insider cited two New Yorkers in government who back to my constituents and say, ‘We all have to take some hits here,’ but Karen Rae there has to be skin in the game on all sides. That’s what a bargain is.” would make good candidates: , a deputy Bill would stop Manhattan Rep. Jerrold Nadler said Republicans were only using the administrator at the Federal Railroad Administration who bike-lane projects debt ceiling to bully Democrats into cutting entitlements. His prepared worked at the state transportation agencies of New York, remarks called the debate “more like a bad gangster movie than a The proposal by House responsible discussion.” Pennsylvania and Virginia; and Polly Trottenberg, the assistant Republicans to cut 30% from the secretary for transportation policy at the U.S. Department of main federal transportation Mr. Engel’s plan drew criticism for envisioning an end-run around Congress, but the Bronx representative said, “I would support the president invoking the 14th Amendment only because the majority in the House is being so irresponsible. The greater good is the republic.”

funding bill would eliminate money date in 2009 before it became clear for bicycle-related projects. Because that the mayor would run for re- about 80% of the city’s bike-lane election. funding comes from Washington, Mr. Kelly led the field of poten- D.C., the bill would drastically tial candidates in two independent curtail bike-lane construction here. polls released last week. Pro-biking group Transportation Alternatives is trying to rally opposi- tion to the measure. New bike City to enforce lanes have helped boost bike com- energy reports muting 62% since the spring of 2008, the city announced last On Aug. 1, the city will begin week. enforcing a law established under PlaNYC that requires all buildings larger than 50,000 square feet to Supermarket baron report energy and water usage to supports Kelly the Department of Buildings. Failure to do so will cost John Catsimatidis will rule out property owners $500. running for mayor in 2013 if The city plans to use the Police Commissioner Raymond data to establish new ener- Kelly (right) throws his hat in gy-efficiency the ring. “My preference is that benchmarks, we get a qualified person for the which it hopes job,” said the billionaire will save New owner of Gristedes Yorkers $700 Foods and Red million a Apple Group. year by Mr. Catsi- 2030. Ⅲ matidis was planning to run as a Republi-

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

8 | Crain’s New York Business | August 1, 2011 CN014493 7/7/11 2:43 PM Page 1

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VIEWPOINT Putting the electorate first editor in chief Rance Crain publisher, vp Jill R. Kaplan eptember primary elections won’t be around in effective date, now 2013, should be 2012, obviating the need EDITORIAL editor Xana Antunes New York much longer.The 2009 Military for a waiver from the Department of Justice. managing editor Glenn Coleman deputy managing editors Valerie Block, and Overseas Voter Empowerment Act Legislators will again whine about being in Albany while Erik Ipsen requires that absentee ballots be mailed to rivals are wooing voters in their districts. Spare us the sob assistant managing editor Erik Engquist Americans overseas at least 45 days prior to story. Incumbents are in session for only half the year and senior producer, projects Kira Bindrim senior producer, news Elisabeth Butler Cordova federal elections, which means primaries must will continue to enjoy numerous other advantages over contributing editor be held in August or earlier. primary challengers, such as fundraising power and Elaine Pofeldt columnists Greg David, Michael Gross, The law, designed to give military members a fair taxpayer-funded mailings. Here is a chance to put voters Alair Townsend opportunity to vote, could be a blessing for all New Yorkers. first. Lawmakers should pass the measure in the fall, when pulse editor Barbara Benson S Theresa Agovino, senior reporters Although the legislation pertains to federal elections, state and they are expected back for a special session. Aaron Elstein, Lisa Fickenscher, local primaries will be moved with them for efficiency’s sake. Matthew Flamm, Miriam Kreinin Souccar reporters Amanda Fung, Shane Dixon Kavanaugh, September primaries are an anachronism designed to Daniel Massey, Adrianne Pasquarelli, benefit politicians, not voters. Until the early 1970s, Jeremy Smerd Solar warming art director Steven Krupinski primaries in New York were held in June. State legislators deputy art directors Carolyn McClain, back then were in session until Memorial Day weekend, Even those who think global warming is a myth cannot deny Daniel Mednick staff photographer Buck Ennis and disliked being stuck in Albany while challengers that we’ve had scorching-hot weather this summer, pushing copy desk chief Wendy Zuckerman campaigned in their districts. So they pushed the primary our electrical grid to the brink. Wouldn’t it be nice to have a copy editor Thaddeus Rutkowski research editor Dana Gordon into September. power source that increases in supply when it’s needed most? assistant research editor Suzanne Panara Voter turnout has since dropped substantially. Having the In fact, we do—it rises in the east every morning. While research assistant Suzanne Bernard research intern Jonas Altman-Kurosaki election at the end of summer was surely a factor. It also converting the sun’s energy to electricity is expensive, editorial interns Irvin Ibarguen, meant that disputed results were often not resolved until improvements in technology and economies of scale are Eliza Ronalds-Hannon, Jermaine Taylor, Ian Thomas days before the November election. lowering costs every year. Adding solar power will improve EDITORIAL AND ADVERTISING OFFICES State legislators, however, have since enjoyed re-election system reliability without producing the greenhouse gases 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 rates of well over 90%. Apart from retirement or death, the that make our weather more extreme. But the state is falling advertising: 212.210.0259 most common cause of incumbents’ removal from office is behind: Last year alone, New Jersey installed twice as much Cable craincom nyk malfeasance. Challengers deserve a better shot. solar photovoltaic capacity as exists in New York, where less Fax 212.210.0499 Entire contents ©copyright 2011 Crain Compelled by the federal law, both houses of the than 0.1% of electricity comes from the sun. Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP Legislature have introduced bills to move the primary.The A state bill called the Solar Jobs Act promises to boost Inc., used under license agreement.

Senate bill, however, would hold it in the dog days of that figure to 1.5% by 2020 while creating jobs in design, TO SUBSCRIBE: August, when voters are vacationing or otherwise paying manufacturing and installation—more than offsetting the For subscription information and delivery concerns, please e-mail [email protected] little attention to politics. Rather than put their own economic drag caused by a tiny projected increase in rates. or call 877-824-9379 (in the U.S. and Canada) or 313- interests before voters’, lawmakers should back the Assembly The legislation has support in Albany but needs a push from 446-0450 (all other locations.) $3.00 a copy, $59.79 one year, $109.79 two years. bill, which moves the primary to June. And that bill’s Gov. Andrew Cuomo. www.crainsnewyork.com ADVERTISING AND MARKETING advertising director Trish Henry senior account managers Irene Bar-Am, Courtney McCombs, Sheryl Rose, OMENTS CRAIN’S ONLINE POLL C Suzanne Wilson sales manager, classified print & online John Gallagher DO YOU PAY ATTENTION newsletter product manager TO RESTAURANT LETTER Alexis Sinclair A power trip, indeed credit Todd J. Masura 313.446.6097 GRADES? marketing director Amy Crossman READER: SHE SHOULD’VE BEEN LISTED seaport on John Street, and we have plenty of assistant marketing manager Date of poll: July 25 Sabra Harrison restaurants and bars and, even more important, director, audience development 161 votes Sometimes. I don’t I loved your “The 50 Most three supermarkets, two hardware stores, a Michael O’Connor plan my meals Powerful Women in New bunch of Duane Reades and two decent wine around them. director of e-commerce strategy York” ( June 27-July 10 and liquor stores. Kristi Serrano issue). It was such an The East River Park and dog run just web developer, interactive interesting read. opened. I can stroll to Chinatown or TriBeCa. Chris O’Donnell Absolutely. But how could you have Work is an easy 20-minute walk over to the . NEW YORK PRODUCTION I eat only 37% left Lynda D. Curtis, chief World Trade Center complex, and when

. 44% production and pre-press director at places executive of Bellevue construction is finally finished there (distant that earn Michael Corsi

an A or a B. Hospital, off the list? future, no doubt), this will be widely seen as a advertising production manager

The flagship of the city’s really nice area. Suzanne Fleischman Wies 19%. Lynda D. Curtis Health and Hospitals —kevin dowd PUBLISHED BY CRAIN COMMUNICATIONS INC. Corp., Bellevue handles chairman Keith E. Crain half a million outpatient BELOW-GRADE EATS? NO THANKS president Rance Crain Nope. I choose visits a year. And because the majority of the secretary Merrilee Crain restaurants for patients lack the resources to pay for their care, For a restaurant to get a letter grade lower than treasurer Mary Kay Crain their flavors, not many come to Bellevue as the hospital of last a B is simply willful disregard for the executive vp, operations William Morrow the city’s stamp resort with chronic, multiple illnesses. customer. To the commenters on the Crain’s senior vp, group publisher Gloria Scoby of approval. group vp, technology, circulation, —leo v. stimmler online poll who think the grading system is a E. coli manufacturing Robert C. Adams government conspiracy, enjoy a plate of ! vice president/production & DIGGING DOWNTOWN —daniel polowetzky manufacturing David Kamis chief information officer Paul Dalpiaz

“Vibrant … sustainable … family-friendly … CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) an urban model.” I completely agree with your pages. Send letters to [email protected]. chairman Mrs. G.D. Crain Jr. (1911-1996) For this week’s questions: Go to description of lower Manhattan 10 years after Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. 9/11 (“The New New Downtown,” July 18). [email protected]. Please include the writer’s I am so glad I moved here. I live by the name, company, address and telephone number.

10 | Crain’s New York Business | August 1, 2011 20110801-NEWS--0011-NAT-CCI-CN_-- 7/28/2011 7:21 PM Page 1

OPINION

permanent industrial jobs and 400 new construction jobs—a shining Industrial revival example of economic renewal. In largely immigrant neighbor- Powered by hoods like Sunset Park,such opportunities are essential. Sunset Park is in Brooklyn a walk-to-work community, so many of these new jobs will be filled Introducing Crain’sCrain’s VIP Event AcceAccess Program: by local residents. Insider access to New York’s premier events. As a reader, BY REP. JERROLD NADLER, REP. NYDIA VELÁZQUEZ AND SETH PINSKY Supporting projects that create you are entitled to use of Crain’s Concierge services, to buy stable, good-paying industrial jobs the best tickets to the best events in New York. ne of the city’s most underutilized economic re- is critical to our city’s economic sources is the Sunset Park waterfront in Brook- health.The industrial sector still accounts for 16.4% of the city’s private GRAND lyn,a historic stretch with tremendous potential employment. 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This By 1937, the terminal handled 16% enormous step toward the reinven- project, along with other important ACT NOW FOR BEST TICKET SELECTION. of all imports and exports in New tion of Federal Building 2. After projects in Sunset Park, will serve as York. several false starts, this cornerstone an example of how public-private However, in the 1960s the rise of of Brooklyn’s industrial waterfront cooperation can encourage indus- GRAND SLAM PACKAGES containerization shifted shipping is at last set for a full-scale redevel- trial rebirth,strengthening our city’s activity to New Jersey. 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Seth Private sedan transportation to/from the tennis center* Brooklyn began a dramatic decline. be primarily devoted to industrial Pinsky is president of the city Economic Event concierge available and on-call to facilitate all aspects of the Federal Building 1 became a deten- purposes, generating up to 1,300 Development Corp. package All taxes and gratuities BONUS: Full access to the exclusive ACES and Champions Bar & paign, polls showed him with less Grill at the U.S. Open (not available to the general public) than 50% of the vote.The media ig- Bloomberg, Kelly nored that important fact to focus PRICES STARTING AT $1,500 PER PACKAGE on the big lead he held over chal- * Eight hours of paid transportation. Destination start/end point must be within 40 miles of tennis center lenger William Thompson. 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Consider that simply too old to consider a run for 2 loge box tickets in Rows A-C to session of tennis to climb out from under in June 2001, amid dai- president in 2012. his administration’s in- ly coverage of Rudy The mayor is knowledgeable Exclusive tennis gift package ept response to the De- Giuliani’s nasty divorce about most of the issues that would Event concierge available and on-call to facilitate all aspects of the cember snowstorm and and after seven years of be important in a presidential cam- package his disastrous appoint- confrontation and divi- paign. Mr. Kelly has never shown All taxes and gratuities ment of Cathie Black as sive leadership, a simi- the slightest interest or understand- schools chancellor. Me- lar poll found that 55% ing of issues beyond public safety— BONUS: Full access to the exclusive ACES and Champions Bar & dia reports claimed the of New Yorkers still be- education, the economy, the budg- Grill at the U.S. Open (not available to the general public) improvement was treat- lieved in Rudy. It is a et, social welfare or snow removal. PRICES STARTING AT $300 PER PACKAGE ed with “relief ” at City GREG myth that New Yorkers Both Mr. Bloomberg and Mr. Giu- Hall. DAVID couldn’t wait to see him liani before him had spent years The mayor’s politi- leave office until the prepping for their mayoral races; OR…CUSTOMIZE YOUR OWN PACKAGE OR SIMPLY PURCHASE INDIVIDUAL TICKETS. cal people are too smart terrorist attacks. The Rudy was in his 40s and Mike in his to really think that. Mr. Bloom- difference also shows how weak this 50s. berg’s popularity is far below the mayor is. The moral of the story: Don’t ex- PLEASE CONTACT OUR CONCIERGES at level required to mobilize support In fact, the mayor has been less pect the mayor to become popular [email protected] or CALL 877-323-7759 for his policies, one reason he caved than popular for some time. again, and don’t expect Ray Kelly to in the final negotiations with the Throughout his re-election cam- run for mayor.

August 1, 2011 | Crain’s New York Business | 11 20110801-NEWS--0012-NAT-CCI-CN_-- 7/28/2011 6:25 PM Page 1

SMALL BUSINESS Off the Street, into the incubator

ments for families, according to are fledgling online Downturn, innovative atmosphere combine Mr. Aiello. firms stoking the hopes to make entrepreneurs of financial techies Despite the financial sector’s re- of those who want to see cent recovery, young people who a vigorous financial tech LAUNCH-READY: security with Goldman Sachs.But it might have gone into—or stayed sector here. Mike Aiello was BY ALEC FOEGE took just a few years for the entre- in—traditional Wall Street careers “Wall Street had with Goldman Sachs preneurial urge to kick in. are instead pursuing ventures in been a huge brain drain before heading out fter graduating from Mr.Aiello,27,founded LifeEn- which they can leverage their skills in in terms of engineers,” on his own. Polytechnic Institute of sured, which allows for the disposi- financial research and services. said Nate Westheimer, buck ennis New York University tion of online accounts and other A good chunk of the 20 tenants at executive director of the with a computer sci- stored data after a person’s death,in 160 Varick St., the site of an incuba- nonprofit NY Tech Meetup. periences of those at 160 Varick of- ence degree in 2006, August 2010. Its clients are typi- tor funded through a partnership of What will it take to lure more fer insight into some factors, from AMike Aiello took a job in computer cally law firms making arrange- NYU-Poly and the city of New York, banking talent to startups? The ex- intangibles like being part of a vibrant community, to basics like cheap rents ($300 a cubicle). Michael Chuang, 35, left a nine- year career as a salesman for bonds and mortgage-backed securities— at Lehman Brothers and, most recently, UBS—to found an online brokerage dealing exclusively with bonds. Mr. Chuang launched iTB Holdings in March 2008 with $3 million from savings,as well as from family, friends and angel investors. He now has five full-time employees at the incubator and 10 more in Eastern Europe. Watching New York become a center of innovation was an added impetus for departing Wall Street, according to Mr. Chuang. Disenchanted Anand Sanwal, 37, credits the Varick Street incubator with help- ing him take CB Insights to the next level. A graduate of Wharton and former business strategist at Amer- ican Express, Mr. Sanwal started up in January 2008 and sublet 120 square feet of space in downtown Manhattan to house the business, which provides customized analyses of private companies to venture capital firms and other investors. Mulling an expansion move to Jer- sey City, he instead scored a spot at 160 Varick in July 2009. Some at the incubator became disenchanted with Wall Street careers during the recession and have been drawn by the opportunity to run firms their own way. Raj Udeshi, 34, a self-described “sales and trading guy,” was laid off from a Latin American derivatives broker in late 2008. He invested about $40,000 of his savings shortly after to co-found HiddenLevers as a “virtual” resident at the incubator,

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12 | Crain’s New York Business | August 1, 2011 Project8:fp template.qxd7/5/111:39PMPage1

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CORPORATE FINANCE INSIDE New York area’s top-paid chief financial officers PAGE 17 ‘[Those] with the highest reinvestment rates have the best returns.’ —Gregory Milano, chief executive, Fortuna, Page 16

Ah, what to do with all that moola NY companies have $200B in cash for deals, dividends or just sitting tight

BY FRAN HAWTHORNE

Finding itself with $2.8 billion in excess cash this spring, money management giant BlackRock decided to expand. It launched private-equity and renewable- energy investment vehicles, and it hired three new managing directors. BlackRock still had cash to spare,though,so it paid $500 million and borrowed $2 billion more at ultralow interest rates to buy back shares held by Bank of miller lloyd America. It then spent another $300 million to boost its dividend by 37.5 cents a share. “We have meaningful oppor- The Never-ending Budget tunities for organic growth and to reward shareholders,” said Ann Marie Petach, chief financial of- comes an almost daily part of doing business. ficer at BlackRock. “We have Once-a-year ritual morphs into a perpetual notion “We’re definitely seeing more demand for enough cash that we’re not companies to improve their ability to forecast,” choosing between them.” BY HILARY JOHNSON adopted what is known as a rolling budget. Exec- said Scott Brennan,director of the enterprise per- Though not every company has utives of other companies now regularly approach formance management practice at Accenture, a that luxury, U.S. corporations as a Ditching Unilever’s creaky budgeting approach Mr. Vorchheimer and his colleagues at Unilever global consulting firm. group are sitting on record-high couldn’t happen fast enough for Neal Vorch- to ask about how the new system works. Traditional annual budgets typically address a piles of cash—about $1 trillion, by heimer, the company’s senior vice president of fi- Although a few big corporate names, includ- full fiscal year in advance and consume a senior most published estimates—as a re- nance for North America. ing General Electric and Electrolux, have long manager’s time from September (early drafts) sult of deep cost cuts made during “Everyone was frustrated with the annual employed rolling budgets instead of the “static” through November (sign-offs).Rolling budgets can the recession and prolonged bor- budget process—how much time we put into it, 12-month variety, they remain the exception at cover an even longer period—as long as eight quar- rowing at next-to-nothing rates. and how out-of-date” the budget was as soon as U.S. companies. Management experts say more ters—but are continually updated and adjusted. The total cash stash for public it was finished, Mr. Vorchheimer said. businesses are now adopting them, however, as A sudden change in costs (oil prices have re- See WHAT TO DO on Page 16 Three years ago, the consumer products giant global economic and financial uncertainty be- See NEVER-ENDING on Page 17

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August 1, 2011 | Crain’s New York Business | 15 20110801-NEWS--0015,0016-NAT-CCI-CN_-- 7/28/2011 12:42 PM Page 2

REPORT CORPORATE FINANCE What to do with all that dough

Continued from Page 15 CASH BALANCED: CFO Ann CASH KINGS committed to dealmaking as a path Marie Petach says BlackRock companies in the metro area stands for growth are employing approach- has been able to use its cash at $206 billion, up 90% since 2007, New York-area companies es that effectively hedge their bets.A both to develop business lines according to New York-based For- (excluding banks) with the largest spokeswoman for drugmaker Bris- and reward shareholders. tuna Advisors. Among the flushest cash holdings as of March 31. tol-Myers Squibb, which has one of of the flush are MetLife, with In billions. the 10 largest cash hoards in New around $30.6 billion; Pfizer, with MetLife $30.57 York, notes that its strategic priori- $26.9 billion; and American Ex- ties include not just acquisitions but press, with $22 billion, according to Pfizer $26.87 also licensing and joint ventures. research by Standard & Poor’s. American Express $22.03 Some companies do not see the Such sizable stakes can present a MF Global Holdings $21.52 M&A route as an option because puzzler for CFOs and other top they are absorbing a previous ac- Verizon $14.73 brass. What should they do with all quisition. That’s the case at Black- that money? Use it to buy another News Corp. $11.78 Rock, which Ms. Petach said is still company? Invest it in new machin- Loews Corp. $8.61 integrating Barclays Global In- ery and employees? Repurchase Nasdaq OMX Group $7.44 vestors, which it bought for $13.5 stock? Increase dividends? Pay billion in 2009. $6.79 down debt? Sit on it awhile longer, Bristol-Myers Squibb in case there’s another recession or Icahn Enterprises $6.56 Reinvesting (and it feels so good) financial crisis? S&P defines cash more broadly than Bristol- Some management experts insist The decisions are not as easy as Myers and Loews do. that plowing extra cash back into a they might appear. Some options Source: Standard & Poor’s company to boost production or to carry risk—maintaining outsize cash expand research and development holdings might attract a corporate offers the optimum outcome. raider, for instance. What’s more, “Far worse than leaving cash to “Companies with a higher rein- ever-changing economic or interest- idle in [safe but low-interest invest- vestment rate—companies that in- rate conditions might suddenly make ments] would be to substantially vest in plant equipment and re- a strong option look weak. overpay for an acquisition,”says De- search—produce better shareholder

nis Gagnon Jr., who runs the New returns, without question,” said buck ennis Don’t sit there—buy something York practice of consultancy B2B Gregory Milano, CEO of Fortuna, A popular but often-maligned CFO. a New York-based advisory firm. nications Holdings, for example, stock index last year and has predict- use for excess cash is making acqui- Yet optimism apparently springs In an analysis of the largest 1,000 reinvested an average of 135% of ed nearly 300 for this year. Bristol- sitions.Skeptics point to overpriced, eternal. Merger and acquisition ac- nonfinancial U.S. public companies cash flow each year over the decade Myers, which raised its dividend by ill-considered deals such as News tivity has been increasing, with over the 10 years ending in 2009, and delivered a cumulative total 3% last December, is again a typical Corp.’s 2005 purchase of Myspace 1,276 transactions totaling $454 Fortuna found that those with the shareholder return of 318%. local example. for $580 million. In June, just before billion in the first five months of highest rates of reinvested cash flow Express Scripts Inc. had even Another high-profile dividend- its phone-hacking scandal erupted, 2011—a 39% rise in value from the in their businesses also had the more impressive results. The St. raiser in the city: JPMorgan Chase News Corp. took the humbling step year-earlier period, according to highest compound annual growth Louis, Mo.-based company rein- & Co. The bank hiked its dividend of unloading the site for a mere $35 PricewaterhouseCoopers. and total shareholder returns. vested 120% of cash flow and post- by 20 cents in March, to 25 cents a million. In some cases,companies that are New York-based L-3 Commu- ed a cumulative total shareholder re- share, after getting the go-ahead turn of 980%. from federal regulators. CEO Jamie The key, of course, is that there Dimon told an investor conference must be demand for what a compa- last September, that his first choice ny makes or develops. If not, it may for deploying cash is to “ultimately simply end up with unused capacity. return” to a dividend of between 30 and 40 cents. Baby got buyback But richer dividends don’t make Repurchasing stock from share- sense for all companies, Mr. Milano holders is a classic move meant to in- said. Though they may be the only crease share prices by decreasing the way stockholders see substantial number of outstanding shares—ef- gains at “low-growth, low-return fectively un-diluting the share pool. companies,” at companies with In June, Standard & Poor’s re- higher-performing stocks, “divi- ported the seventh straight quarter- dends don’t matter,” he said. ly increase in such buybacks.Among the major repurchasers in the New Stay safe on the sidelines York area is Bristol-Myers, which With the global economy in a announced a $3 billion, multiyear tenuous state, a company can never buyback in April 2010. have too big a cushion, right? Some observers are skeptical of Loews Corp.—a holding com- this approach and point out that pany whose interests range from ho- companies too often make the clas- tels to insurance to offshore sic mistake of buying stock when its drilling—has $4.6 billion in tradi- price is high. tionally safe instruments such as Mr. Milano believes that there Treasury bills but did spend $200 are often better ways for firms to million in a share buyback earlier spend their greenbacks. “Compa- this year. nies that buy back stock are throw- CEO James Tisch isn’t thrilled ing their hands up and saying they with the T-bill strategy. “If you can’t find anything very good to in- round Treasury bill rates off to the vest in,” he said. nearest 10 basis points, the yield is Buybacks can serve other pur- zero,” he said. poses, however, such as bolstering Still, Loews can’t justify most an organization’s image with share- other uses—including acquisi- holders. After News Corp.’s trou- tions—for its cash right now. “We bles sank its stock price last month, are very particular about what we in- the company announced that it vest in,”Mr.Tisch said.He sees cor- would nearly triple its buyback pro- porate America’s growing cash gram, to $5 billion. horde as “a real measure of the uncertainty that a lot of CEOs have,” Dividend shields he added. “Notwithstanding how S&P reported 255 dividend in- low interest rates are,they’re just not creases among companies in its 500- spending.” Ⅲ

16 | Crain’s New York Business | August 1, 2011 20110801-NEWS--0017-NAT-CCI-CN_-- 7/28/2011 6:22 PM Page 1

REPORT CORPORATE FINANCE New York Area’s Highest-Paid CFOs Ranked by 2010 compensation (figures in thousands, unless otherwise noted) Company 2010 revenue 2010 net income Total Salary/ Nonequity Stock awards/ Other (in millions)/ (in millions)/ One-year Executive (age)/ compensation bonus incentive plan option awards compensation % change % change shareholder Rank company (ticker) in 2010 in 2010 in 2010 in 2010 in 2010 from 2009 from 2009 return Thomas E. Dooley (54) $64,610.21 $1,875.0 $8,906.3 $32,344.7 $12.2 $13,356.0 3 $1,548.0 +29.6% 3 1 Viacom Inc. (VIA.B)2 $0.0 $21,472.0 -0.9% +30.1% Douglas L. Braunstein 4 (49) $15,237.4 $383.3 $0.0 $10,080.0 $0.0 $115,475.0 $17,370.0 +2.3% 2 JPMorgan Chase & Co. ( JPM) $3,840.0 $934.1 -0.1% +48.1% David A. Viniar (55) $13,953.3 $600.0 $0.0 $7,650.0 $303.3 $45,967.0 $8,354.0 +0.4% 3 Goldman Sachs Group Inc. (GS) $5,400.0 $0.0 -11.0% -37.6% Ruth Porat (53) $11,367.4 $750.0 $0.0 $6,911.3 $6.1 $38,036.0 $4,703.0 -7.4% 4 Morgan Stanley (MS) $3,700.0 $0.0 +26.2% +249.4% Laurence A. Tosi (43) $10,747.9 $350.0 $0.0 $5,441.1 $306.8 $3,119.3 -$370.0 +12.4% 5 Blackstone Group (BX) $4,650.0 $0.0 +75.9% n/m Joseph R. Ianniello (43) $10,694.1 $1,505.8 $0.0 $1,800.0 $188.3 $14,059.8 $724.2 +37.0% 6 CBS Corp. (CBS) $6,000.0 $1,200.0 +8.0% +219.7% Daniel T. Henry (61) $10,140.7 $838.5 $1,212.0 $3,437.5 $362.5 $30,242.0 $4,057.0 +7.7% 7 American Express Co. (AXP) $2,350.0 $1,940.2 +13.1% +90.5% John K. Martin Jr. (43) $10,128.7 $1,500.0 $5,450.0 $1,973.8 $13.7 $26,888.0 $2,578.0 +13.3% 8 Time Warner Inc. (TWX) $0.0 $1,191.2 +5.9% +4.1% Kathryn F. Fagan (44) $9,459.9 $1,086.0 $0.0 $0.0 $10.0 $2,634.9 $1,267.3 +18.6% 9 Annaly Capital Management Inc. (NLY) $8,363.9 $0.0 -23.0% -35.4% David L. Herzog (51) $7,159.8 $492.8 $0.0 $5,656.6 $10.4 $77,301.0 $7,786.0 +92.2% 10 American International Group Inc. (AIG) $1,000.0 $0.0 +2.6% n/m Hermann Waldemer (53) $6,856.1 $1,064.8 $2,566.3 $3,189.9 $35.1 $67,713.0 $7,259.0 +26.5% 11 Philip Morris International (PM) $0.0 $0.0 +9.1% +14.5% David F. DeVoe (63) $6,468.5 $2,853.8 $2,000.0 $1,426.9 $187.8 $32,778.0 $2,539.0 +32.8% 12 News Corp. (NWS.A) $0.0 $0.0 +7.7% n/m Thomas P. Gibbons (54) $6,135.3 $650.0 $2,050.0 $1,641.2 $170.7 $14,483.0 $2,518.0 +9.3% 13 Bank of New York Mellon Corp. (BK) $0.0 $1,623.4 +75.6% n/m Ian G. H. Ashken (50) $6,035.1 $939.1 $939.1 $2,918.4 $299.4 $6,022.7 $106.7 +0.9% 14 Jarden Corp. ( JAH) $939.1 $0.0 +16.9% -17.1% Robert D. Marcus 5 (45) $6,000.2 $904.9 $2,059.0 $1,262.1 $31.2 $18,868.0 $1,308.0 +63.4% 15 Time Warner Cable Inc. (TWC) $0.0 $1,743.0 +5.6% +22.2% Frank A. D’Amelio (53) $5,969.7 $1,090.0 $1,175.0 $2,673.3 $193.8 $67,809.0 $8,257.0 +0.2% 16 Pfizer Inc. (PFE) $0.0 $837.6 +35.6% -4.4% Mark Loughridge (57) $5,917.5 $720.0 $1,482.0 $3,567.7 $147.8 $99,870.0 $14,833.0 +14.0% 17 International Business Machines Corp. (IBM) $0.0 $0.0 +4.3% +10.5% Gordon J. Coburn (47) $5,901.7 $485.2 $735.3 $4,600.6 $80.6 $4,592.4 $733.5 +61.7% 18 Cognizant Technology Solutions Corp. (CTSH) $0.0 $0.0 +40.1% +37.1% Randall J. Weisenburger (52) $5,843.0 $975.0 $4,800.0 $0.0 6 $68.0 $12,542.5 $827.7 +19.0% 19 Omnicom Group Inc. (OMC) $0.0 $0.0 +7.0% +4.4% Jay S. Benet (58) $5,655.3 $687.5 $2,550.0 $1,360.0 $157.8 $25,112.0 $3,216.0 +14.6% 20 Travelers Cos. (TRV) $0.0 $900.0 +1.8% -11.2% Joseph Macnow (65) $5,635.6 $1,000.0 $0.0 $2,344.0 $284.3 $2,779.7 $647.9 +22.9% 21 Vornado Realty Trust (VNO) $505.7 $1,501.6 +3.1% +510.2% John F. Killian 7 (56) $5,592.2 $825.0 $928.1 $3,681.6 $157.5 8 $106,565.0 $2,549.0 +19.3% 22 Verizon Communications Inc. (VZ) $0.0 $0.0 -1.2% -47.9% Michael J. Peninger (56) $5,440.8 $550.0 $852.0 $3,952.4 $86.4 $8,527.7 $279.2 +32.8% 23 Assurant Inc. (AIZ) $0.0 $0.0 -2.0% -35.2% Charles D. McLane Jr. (57) $5,256.3 $600.0 $820.0 $3,800.4 $35.9 $21,013.0 $254.0 -3.8% 24 Alcoa Inc. (AA) $0.0 $0.0 +14.0% n/m Jacqualyn A. Fouse 9 (50) $5,065.5 $185.8 $506.6 $958.7 $1,000.0 $3,625.7 $880.5 +6.2% 25 Celgene Corp. (CELG) $0.0 $2,414.4 +34.8% +13.4% Compensation and shareholder return data provided by Equilar Inc., www.equilar.com. Company data provided by Compustat, www.compustat.com and Capital IQ, www.capitaliq.com. Additional research by Dana Gordon, Suzanne Panara and Irvin Ibarguen. New York area includes New York City and Nassau, Suffolk and Westchester counties in New York, and Bergen, Essex, Hudson and Union counties in New Jersey. Executives may have additional titles. Executives’ ages are derived from information in company proxy statements and may not reflect recent birthdays. Base salaries are taken from the Summary Compensation Table and are not annualized for executives employed for less than a full fiscal year. All financial data derived from the most recent 10-K’s available as of May 2, 2011. The most recent data for companies with fiscal years ending in March through December are for the year ended in 2010; the most recent data for companies with fiscal years ending in January and February are for the year ended in 2011. Compensation data derived from filings available from the SEC as of May 2, 2011. Compensation and financial figures have been rounded to one decimal place. Total compensation represents sum of base salary, bonus, nonequity incentive plan, grant date fair value of option and stock awards, and other compensation. Salary may be paid for a full or partial year, if employment commenced during the year. Non- equity incentive plan represents cash awards earned in connection with short- and long-term incentive plan awards given in the last year. Stock and option awards represent the aggregate grant date fair value of service- and performance-based option awards given in the last year. Other compensation represents the value of benefits and perquisites given in the last year. One-year shareholder return represents the change in stock price plus any dividends paid over the most recent fiscal year. n/m Not meaningful. 1-Mr. Dooley ended his term as CFO on Sept. 30, 2010. Compen- sation includes a one-time equity grant valued at $24, 201,887 and a one-time stock option grant of $16,672,000, both of which were for his promotion to chief operating officer and the extension of his employment agreement. 2-For the nine months ended Sept. 30, 2010, except where noted. 3-Fiscal year changed to Sept. 30 from Dec. 31. For the 12 months ended Sept. 30, 2010. 4-Appointed CFO on June 22, 2010. 5-Acting CFO, as of Dec. 14, 2010. Had been the CFO since Jan. 1, 2008. 6-Excludes performance-based restricted stock units with a value of $2,400,000 granted in fiscal 2011 based on performance in 2010. 7-Served as CFO until Nov. 1, 2010, and left the company on Dec. 31, 2010. 8-Excludes $1,783,141 in severance-related payments. 9-Joined the company as CFO on Sept. 27, 2010.

back when sales are less brisk. proach, in which the budgets are combined Still, many finance executives are ambiva- with an overarching annual goal. The never-ending budget lent about abandoning the traditional annu- “What we’re seeing is an evolutionary al budget. path,” said Steve Player, managing partner of Continued from Page 15 year. Businesses that use them find them a The main difficulty lies in changing a cor- The Player Group, a Dallas-based consultan- cently fluctuated by double-digits in a single more efficient and effective platform. porate culture that revolves around quarterly cy. “Companies that are moving to rolling day) or a disaster (the Fukushima nuclear cri- A rolling budget is “better than an annual sales and earnings goals, and compensation budgets are [doing it] in a safer way.” sis, the Icelandic volcano eruptions) might budget for seeing where the business is today,” targets that tie bonuses to annual results, said Even Unilever still uses annual targets for knock a standard budget off course. But said Donald Stewart, chief financial officer of Scott Wallace,a director at Deloitte Consult- revenue, profit, cash flow and market share, rolling budgets give companies more ability to Spire Capital Partners, a New York private- ing in Minnesota. and compares rolling budgets against them account for such unforeseen circumstances equity firm that owns small marketing and “There’s pent-up desire to move to rolling throughout the year. If results fall short, the and emergencies. media companies. “It’s a really good tool.” forecasts,” said Mr. Wallace. “But it can be a company determines how to improve, for ex- Mr. Stewart prefers that the companies in big stretch for companies to try to change that ample, by launching a new product, offering a Easy to ramp up, scale back Spire’s portfolio use rolling budgets, espe- culture.” promotion or increasing advertising, accord- The budgets,also called rolling forecasts or cially the ones that are highly dependent on ing to Mr. Vorchheimer. flexible budgets, can reduce the time finance volatile commodities, or experiencing fast or Evolution versus revolution “You’re still reflecting back to your target,” executives spend explaining “misses” and can choppy growth. A rolling budget makes it One solution can be to phase in rolling he said. “But you’re calling it as you see it and curtail the spending that’s encouraged when easy for the latter group to ramp up spending budgets by using them first in key parts of the focusing everyone on trying to improve the departments are accorded a lump sum each in a quarter when demand is high or scale business. Some companies take a hybrid ap- drivers of better business performance.” Ⅲ

August 1, 2011 | Crain’s New York Business | 17 20110801-NEWS--0018-NAT-CCI-CN_-- 7/28/2011 1:27 PM Page 1

FOR THE RECORD

database of current procurement notices, REAL ESTATE DEALS STOCK TRANSACTIONS visit www.nyc.gov/cityrecord. Listings ABOUT THIS SECTION are alphabetical by category and Companies that would like to have details of Following are recent insider transactions at FOR THE RECORD is a weekly listing of information from the public record that department. their recent transactions appear in these New York’s largest publicly held companies listings should e-mail descriptions in this filed with the Securities and Exchange can help businesspeople in the New York area find opportunities, potential CONSTRUCTION SERVICES format to ELaermer @crainsnewyork.com, Commission by executives and major new clients and updates on competitors. ● Department of Design and Construction with “Real estate transaction” in the shareholders. Listings are in order of To ask questions or get more information on this section, contact Suzanne Seeks competitive sealed bids by 11 a.m. subject line, or enter them online at transaction value.The information was Panara at [email protected]. on Aug. 10 for the emergency crainsnewyork.com/submitadeal. Deals are obtained from Thomson Reuters. rehabilitation of sanitary and combined listed in order of square footage. sewers using the Shotcrete lining method ● MasterCard Inc. (MA) in various locations citywide. Bid COMMERCIAL The MasterCard Foundation sold documents can be downloaded from ● Oppenheimer & Co. signed a 15-year 44,520 shares of common stock at prices BANKRUPTCIES $50 million and estimated assets of www.nyc.gov/buildnyc.To make lease for 270,000 square feet at 85 Broad ranging from $306.02 to $310.85 $1,000,001 to $10 million. Among the inquiries, contact Ben Perrone at St. Cushman & Wakefield’s Matt between July 13 and July 20, in a The following listings are selected from the creditors with the largest unsecured (718) 391-2614, or Alicia Williams Astrachan, Steven Bauer, Mitch Konsker transaction worth $13,716,004. It now most recent available filings by companies claims are Areal Plus Group, owed at at (718) 391-2610 or and Jon Herman represented the tenant. directly holds 13,011,900 shares. seeking bankruptcy protection in the least $17,000,000; Solby+Westbrae [email protected]. JLL’s Peter Riguardi, Frank Doyle, Southern and Eastern Districts of New Partners, owed $15,639,375; and Cynthia Wasserberger and Alexis Tener ● C.R. Bard Inc. (BCR) York. Information was obtained from U.S. 19 SHC Corp., owed $13,249,020. ● Department of Design and Construction represented landlord MetLife.The Todd C. Schermerhorn, senior vice Bankruptcy Court records available on Seeks competitive sealed bids by 11 a.m. asking rent was in the low to mid-$50s president and chief financial officer, Public Access to Court Electronic Records. ● Party Shops Plus Inc. on Aug. 16 for the construction of storm per square foot. exercised options on 53,400 shares of Listings are in alphabetical order. 93 Central Park Ave., Scarsdale, N.Y sewers and appurtenances, including common stock at prices ranging from Filed for Chapter 11 bankruptcy water main and best management ● Bevmax Office Centers signed a lease $35.71 to $54.97 between July 8 and ● AUG Funding protection on July 14.The filing cites practice work, in various locations in for 27,384 square feet at 40 Worth St. The July 15, in a transaction worth 165 Remsen St., Brooklyn estimated liabilities of $500,001 to $1 Queens. Bid documents can be building is now 100% occupied. $2,550,031. During the same period, Filed for Chapter 11 bankruptcy million and estimated assets of $500,001 downloaded from www.nyc.gov/buildnyc. Newmark Knight Frank’s Brian he sold 53,400 shares of common stock protection on July 18.The filing cites to $1 million. Among the creditors with To make inquiries, contact Ben Perrone Steinwurtzel, Roy Lapidus and Jeff Gural at prices ranging from $111.83 to estimated liabilities of $1,000,001 to $10 the largest unsecured claims are Amscan at (718) 391-2614, or Alicia Williams at represented the tenant.The building’s $112.51, in a transaction worth million and estimated assets of Inc., owed $51,067.19; Funworld, owed (718) 391-2610 or [email protected]. owner, Newmark Holdings, was $5,984,327. He now directly holds $1,000,001 to $10 million. Among the $34,334.74; and Rubies Costume Co., represented by Mr. Steinwurtzel and Mr. 119,481 shares. creditors with the largest unsecured owed $27,120.63. GOODS AND SERVICES Lapidus.The asking rent was $34 per claims are Sabre Hospitality Solutions, ● Health and Hospitals Corp. square foot. ● CBS Corp. (CBS) owed $5,722.05; Alex Linens & Laundry, Seeks competitive sealed bids by 2 p.m. Leslie Moonves, president, chief owed $1,330.35; and City of Miami GOVERNMENT CONTRACT on Aug. 11 for the monthly delivery of RETAIL executive and director, exercised options Water Account, owed $1,036.63. OPPORTUNITIES 100 boxes of assorted Kellogg’s cereals to ● Mom + Pop Music signed a two-year on 187,500 shares of common stock at the dietary department of Sea View lease for 1,860 square feet at 1140 $13.43 on July 15, in a transaction worth ● Little Rest Twelve Inc. Following are selected contract Hospital Rehabilitation Center & Broadway. David Rose and Haim Vinik $2,518,125. On the same day, he sold 25 Little West 12th St., Manhattan opportunities recently announced by New Home on Staten Island. To make of A.C. Lawrence represented the 187,500 shares of common stock at Filed for Chapter 7 bankruptcy York City agencies.To learn how to sell inquiries, contact Pedro Irizarry at tenant, while Colliers International’s $27.49, in a transaction worth protection on July 19.The filing cites goods and services to city government, visit (718) 317-3375, or Alex Cheng at Michael Joseph represented the landlord. $5,153,438. He now directly holds estimated liabilities of $10,000,001 to www.nyc.gov/selltonyc. For a searchable (718) 317-3377 or [email protected]. The asking rent was $38 per square foot. 1,799,180 shares. Ⅲ

18 | Crain’s New York Business | August 1, 2011 20110801-NEWS--0019-NAT-CCI-CN_-- 7/28/2011 6:26 PM Page 1

REAL ESTATE DEALS BACK IN DEMAND that they wanted to stay within two Growing firm triples HQ to three blocks of their existing lo- Net absorption of industrial cation,” said Anand Melwani of space in New York City ARM Real Estate Group, who rep- (in thousands of square feet). talize on the growing number of ing’s landlord, 902 Associates. resented the tenant, as well as the 33Across finds its tech companies here.” —amanda fung two Greek brothers who own the answer in new Mr. Rotbard expects the space to building. “They are expanding, and open this fall and is investing their business is thriving.” Silicon Alley location $350,000 to $400,000 in upgrading Pilates studio The asking rent for the five-year it. Private offices will start at $1,000 in good shape lease was not disclosed, but brokers ocial targeting firm a month,while rents on cubicles will say that the asking rent for similar 33Across, which helps begin at $395 a month. A Pilates studio is stretching its space in the neighborhood is in the companies improve their The new space will offer roughly space out in Gramercy Park. high $30s per square foot. online marketing, is ramp- 70 private offices and 130 worksta- Kinespirit Inc. will double its site Kinespirit’s lease began on July 1, ing up its operations in tions for rent. to 3,000 square feet when it moves and it will be moving into the space SManhattan’s Silicon Alley, more Perry Mesmer and Martin Mey- down the street to 125 E. 23rd St.,from by the end of this month, Mr. Mel- than tripling the size of its New York er of Colliers International repre- its current home one block west. wani said. Source: Cassidy Turley headquarters in a move to a new lo- sented Micro Office and the build- “An essential part of the deal was —emily laermer cation. The tenant has signed a lease for 12,500 square feet on the top floor of 229 W. 28th St., near the High Line. The asking price for the 10- June 2011 June 2011 April 2011 April 2011 April 2011 year lease was $34 per square foot. The company will leave its current 4,000-square-foot home on West 34th Street. “The majority of the biggest and best brands are here in New $157.3 Million $87.5 Million $302.1 Million $167.4 Million $64.7 Million York,” said Eric Wheeler, Common Stock Common Stock Common Stock Common Stock Common Stock CEO and Follow-On Offering Follow-On Offering Follow-On Offering Initial Public Offering Follow-On Offering founder of 33Across. “It’s also a rapidly Joint Bookrunner Joint Bookrunner Co-Manager Co-Manager Joint Bookrunner growing innovation and technology March 2011 March 2011 March 2011 March 2011 December 2010 hub with some of the biggest Inter- net tech companies making their home here.” The company’s name alludes to ® the large horizontal word that acts as a sort of pivot point at the center of a crossword puzzle. “They needed space that would $2.1 Billion $377 Million $142.3 Million $72.8 Million $158.1 Million give them the ability to better ac- Common Stock Common Stock Common Stock Common Stock Common Stock commodate their rapid growth,”said Follow-On Offering Follow-On Offering Follow-On Offering Follow-On Offering Follow-On Offering David Danick, the Coldwell Banker and Convertible Commercial Hunter Realty broker Preferred Offering who, with Andrew Zezas of Real- Lead Manager Co-Manager Co-Manager Co-Manager Joint Bookrunner Strat Corp., represented the tenant. The company has seen its staff quadruple over the past year. Barry Bernstein of Winoker Re- alty Co. represented landlord Joss Realty Partners. —jermaine taylor Delivering results We know that successful, long-term business relationships Office suite deal depend upon delivering results for our clients. At KeyBanc Capital Markets,® more than 500 professionals for Flatiron space leverage extensive industry knowledge, equity and debt capital Micro Office Solutions has chosen markets expertise, and a leading merger and acquisition advisory the Flatiron district for the location practice to deliver strategic solutions that help our clients capitalize for its fourth Manhattan outpost, on opportunities. half of which will be set aside for tech and new media firms. The 8-year-old firm,which rents fully furnished offices to small businesses and other fledgling companies for as short as one month, has signed a 20-year lease for 33,000 square feet at 902 Broadway.The asking rent for the space was $39 per To learn more: square foot. Contact Randy Paine, Co-Head of KeyBanc Capital Markets 216-689-4119, The firm will take the entire sixth Doug Preiser, Co-Head of KeyBanc Capital Markets 216-689-5944 or and seventh floors.It will devote one David L. Gruber, Managing Director, Equity Capital Markets floor to tech and media firms inter- 216-689-0444. ested in renting affordable office Visit key.com/kbcm space and the other to small businesses from all types of industries. KeyBanc Capital Markets is a trade name under which corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., Member NYSE/ “We’re right near Union Square, FINRA/SIPC, and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities in the area called Silicon Alley,”said representatives, who may also be employees of KeyBank N.A. Banking products and services are offered by KeyBank N.A. David Rotbard, co-founder of Mi- Key.com is a federally registered service mark of KeyCorp. ©2011 KeyCorp ADL3613 cro Office. “It’s a great time to capi-

August 1, 2011 | Crain’s New York Business | 19 nb31p20-22cl.qxp 7/29/11 1:39 PM Page 20

EXECUTIVE PUBLIC & LEGAL NOTICES RECRUITER Notice of Qualification of DailyCandy, Notice of Qualification of Acquisition Notice of Qualification of RELATED NOTICE OF FORMATION OF ZNTAI POSITION AVAILABLE LLC. Authority filed with NY Dept. of Funds GP - L.P. Authority filed with RECOVERY FUND AGW LLC. Auth- Records LLC. Articles of Organization State on 7/7/11. Office location: NY NY Dept. of State on 6/21/11. Office ority filed with Secy. of State of NY filed with the Secretary of State of NY Sales Acct Exec for well-est mdtwn comp County. Princ. bus. addr.: 100 location: NY County. Princ. bus. (SSNY) on 07/18/11. Office location: (SSNY) on 4/26/11. Office location: - 5 yrs exp req; Manage accts; Generate Universal City Plz., Universal City, CA addr.: 375 Park Ave., NY, NY 10152. NY County. LLC formed in Delaware NEW YORK County. SSNY has been new business; Oversee Acct Mgrs; 91608. LLC formed in DE on 1/27/00. LP formed in DE on 6/2/11. NY Sec. (DE) on 07/15/11. Princ. office of LLC: designated as agent upon whom Develop sales leads; Analyze cust. data. NY Sec. of State designated agent of of State designated agent of LP 60 Columbus Circle, NY, NY 10023. process against it may be served. The Proven sales record, strong negotiating & LLC upon whom process against it upon whom process against it may SSNY designated as agent of LLC Post Office address to which the strategic-planning skills req. Initiative & may be served and shall mail process be served and shall mail process to: upon whom process against it may SSNY shall mail a copy of any process follow-through & priority setting skills to: c/o CT Corporation System, 111 c/o CT Corporation System, 111 8th be served. SSNY shall mail process against the LLC served upon him/her req. Resumes:[email protected] 8th Ave., NY, NY 10011, regd. agent Ave., NY, NY 10011, regd. agent to c/o Corporation Service Co. (CSC), is: c/o Mario Larrea, 166 First Ave. #1, upon whom process may be served. upon whom process may be served. 80 State St., Albany, NY 12207. DE New York, NY 10009. The principal DE addr. of LLC: c/o The Corporation DE addr. of LP: 1209 Orange St., addr. of LLC: c/o CSC, 2711 business address of the LLC is: 166 Trust Co., 1209 Orange St., Wilmington, DE 19801. Name/addr. Centerville Rd., Ste. 400, Wilmington, First Ave. #1, New York, NY 10009. REAL ESTATE Wilmington, DE 19801. Cert. of Form. of genl. ptr. available from NY Sec. of DE 19808. Cert. of Form. filed with Purpose: any lawful act or activity. filed with DE Sec. of State, 401 Federal State. Cert. of LP filed with DE Sec. Secy. of State of DE, John G. St., Dover, DE 19901. Purpose: all of State, 401 Federal St., Dover, DE Townsend Bldg., Federal and Duke NOTICE OF FORMATION OF: Nano OFFICE SPACE lawful purposes. 19901. Purpose: any lawful activity. of York Sts., Dover, DE 19901. Endeavour LLC. Articles of BROOKLYN Purpose: Any lawful activity. Organization filed with the Secretary Notice of Formation of Hilda AAF HOLDINGS LLC, a domestic of State of NY (SSNY) on 4/20/2011. Modern Office Space Chazanovitz & Company, LLC. Arts. Limited Liability Company (LLC), filed Notice of Qualification of CreditSights Office location: NEW YORK County. of Org. filed with Secy. of State of NY with the Sec of State of NY on Analytics, LLC. Authority filed with SSNY has been designated as agent For Lease (SSNY) on 6/15/11. Office location: 3/2/2011. NY Office location: New Secy. of State of NY (SSNY) on upon whom process against it may NY County. SSNY designated as York County. SSNY is designated as 07/01/11. Office location: NY County. be served. The Post Office address 2275 Coleman Street agent of LLC upon whom process agent upon whom process against LLC formed in Delaware (DE) on to which the SSNY shall mail a copy Marine Park against it may be served. SSNY shall the LLC may be served. SSNY shall 05/23/11. Princ. office of LLC: 470 of any process against the LLC Brooklyn, NY 11234 mail process to: The LLC, 755 West mail a copy of any process against Park Ave. South, 12th Fl., NY, NY served upon him/her is: 345 West 50 End Ave., NY, NY 10025. Purpose: the LLC served upon him/her to The 10016. SSNY designated as agent of Street, #7Z, New York, NY 10019. Unique opportunity to access up any lawful activity. LLC, c/o Elisabeth M. Kovac, Esq., LLC upon whom process against it may Purpose: any lawful act or activity. to 38,000 sf, divisions considered 90 Park Ave., Ste. 1710, NY, NY be served. SSNY shall mail process to ZEROCINQUEQUATTRO LLC, a •Modern Building, Abundant Easy Parking Affiliated Dermatology, PLLC. Arts of 10016. General Purposes. the LLC at the addr. of its princ. office. •Suburban-style setting Org filed w/Sec of State of NY (SSNY) DE addr. of LLC: Corporation Service domestic Limited Liability Company •Easy Parking on 6/30/11. Office location: NY County. Notice of Qualification of TriPointe Co., 2711 Centreville Rd., Ste. 400, (LLC), filed with the Sec of State of •2 Blocks to Kings Plaza Capital Partners, LLC. Fictitious name: Wilmington, DE 19808. Cert. of Form. NY on 5/13/11. NY Office location: • SSNY designated as agent for service Tenant controlled utilities of process against PLLC and shall TCP, LLC. Authority filed with Secy. filed with Jeffrey W. Bullock, Secy. of NEW YORK County. SSNY is desig- •Competitive Rent mail copy to L. Witman, Witman of State of NY (SSNY) on 7/7/11. State of the State of DE, 401 Federal nated as agent upon whom process Contact Exclusive Agent: Stadtmauer, P.A., 26 Columbia Tpke, Office location: NY County. LLC St., Dover, DE 19901-3639. Purpose: against the LLC may be served. SSNY Florham Park, NJ 07932. Purpose: any formed in Delaware (DE) on 12/22/10. Any lawful activity. shall mail a copy of any process M. C. O’BRIEN, INC. SSNY designated as agent of LLC lawful activity. Principal address: 35 against the LLC served upon him/her upon whom process against it may 718-252-9191 East 35th St. Ste. 208, NY, NY 10016. Notice of Formation of INK MARK to Richard K. Eng, Esq., 100 be served. SSNY shall mail process ENTERTAINMENT, LLC. Arts. of Org. Lafayette St., Ste. 403, New York, William P. O’Brien, SIOR xtn110 to: The LLC, 237 Layfayette St., NY, filed with Secy. of State of NY NY 10013. General Purposes. Notice of Formation of Integrity [email protected] NY 10012, also the principal office (SSNY) on 05/17/07. Office location: Management Holdings, LLC. Arts. of address. Address to be maintained in NY County. Princ. office of LLC: 200 Notice is hereby given that a license OFFICE SPACE Org. filed with Secy. of State of NY DE: 2711 Centerville Rd., Ste. 400, W. 57th St., Ste. 1300, NY, NY 10019. (#TBA) for LIQUOR has been applied (SSNY) on 07/12/11. Office location: Wilmington, DE 19808. Arts of Org. SSNY designated as agent of LLC for by AMERICA OOTOYA INC. at TRIBECA FILM CENTER NY County. SSNY designated as filed with DE Secy. Of State, 401 upon whom process against it may be retail, in a Restaurant, under the ABC Executive & Production Office Space Available agent of LLC upon whom process Federal St., Ste. 4, Dover, DE 19901. served. SSNY shall mail process to Law at 6-8 W. 18th St. NY, NY 10011 24 Hour Security against it may be served. SSNY shall Purpose: any lawful activities. Kevin Foster, 7 Emory Rd., Highland for on-premises consumption. Conference Room mail process to LLC: 15 Broad St, Reception Area Mills, NY 10930, regd. agent upon Screening Room Ste. 1400, NY, NY 10005. Purpose: NOTICE OF FORMATION OF LIMITED whom and at which process may be Entertainment Visa Consultants LLC. LONG & SHORT TERM RENTALS any lawful activity. LIABILITY COMPANY. NAME: SIMCON served. As amended by Cert. of Arts. of Org. filed with Secy. of State 212.941.2000 GROUP LLC. Articles of Organization Amendment filed with SSNY on of NY (SSNY) on 6/3/11. Office in NY NOTICE OF FORMATION of 333 Fish were filed with the Secretary of State 08/03/10, the name was changed to: County. SSNY designated agent of RETAIL SPACE Tacos NY 1, LLC, Arts of Org filed w of New York (SSNY) on 06/09/11. PROJECT TWENTY ONE, LLC. LLC upon whom process against it SSNY on 6/22/11 in NY County. Office location: New York County. Purpose: Any lawful activity. may be served. SSNY shall mail SSNY designated as agent upon Hoboken, N.J. SSNY has been designated as agent process to David King, 867 W 181st whom process may be served and Notice of Qualification of Dovir LLC. Prime Retail Location of the LLC upon whom process St 4E, NY, NY 10033. Purpose: shall mail a copy of any process to against it may be served. SSNY shall Authority filed with NY Dept. of State General. Washington St. - b/w 1st & 2nd St. Corporation Service Co., 80 State mail a copy of process to the LLC, on 7/19/11. NYS fictitious name: 2,500 sq. ft. ground floor St., Albany, NY 12207. Principal 850 sq. ft. mezzanine 688 Avenue of the Americas, #3, New Dovir Creative LLC. Office location: Notice of Qualification of Vintage Fund Full basement for storage business address: 56 W 22 St., NY, York, New York 10010. Purpose: For NY County. LLC formed in DE on GSVA, L.P. App. for Auth. filed with Ideal for bank, chain, franchise NY 10010. Purpose: any lawful act. any lawful purpose. 5/18/11. NY Sec. of State designated Secy. of State of NY (SSNY) on 5/17/11. Call owner (917) 750-5353 agent of LLC upon whom process Office location: NY County. LP formed Notice of Formation of EHT HRPN Automobile Safe Drivers Club LLC. against it may be served and shall in Delaware (DE) on 3/16/11. SSNY MEMBER LLC. Arts. of Org. filed Arts. of Org. filed with Secy. of State mail process to: c/o CT Corporation designated as agent of LP upon whom with Secy. of State of N.Y. (SSNY) on of NY (SSNY) on 5/23/11. Office in System, 111 8th Ave., NY, NY 10011, process against it may be served. TELECOMMUNICATIONS 6/27/11. Office location: New York NY County. SSNY designated agent regd. agent upon whom process may SSNY shall mail process to: 200 West County. SSNY designated as agent of LLC upon whom process against be served. DE addr. of LLC: 1209 St., NY, NY 10282. DE address of LP: of LLC upon whom process against it may be served. SSNY shall mail Orange St., Wilmington, DE 19801. 2711 Centerville Rd., Ste. 400, it may be served. SSNY shall mail process to Jack Franco, 110 W. 32nd Cert. of Form. filed with DE Sec. of Wilmington, DE 19808. Name/address process to: The LLC, 145 East 126th St - 8th Fl, NY, NY 10001. Purpose: State, 401 Federal St., Dover, DE of each genl. ptr. available from 33 East 33rd Street Street, New York, NY 10035. General. 19901. Purpose: all lawful purposes. SSNY. Cert. of LP filed with DE Secy. New York, NY 10016 Purpose: any lawful activity. of State, P.O. Box 898, Dover, DE Notice of Qualification of Parks Notice of Qualification of Morgan 19903. Purpose: any lawful activity. 212-532-7400 Notice of Qualification of Comcast Holdings Acquisition Sub LLC. Stanley HedgePremier/York Credit [email protected] Shared Services, LLC. Authority filed Authority filed with NY Dept. of State Opportunities Fund LP. Authority filed NOTICE OF FORMATION OF Optimum EMERGENCY with NY Dept. of State on 7/7/11. on 6/24/11. Office location: NY with NY Dept. of State on 4/6/11. Media Services LLC. Articles of COMMUNICATIONS Office location: NY County. Princ. County. Princ. bus. addr.: 100 Office location: NY County. Princ. bus. Organization filed with the Secretary SYSTEMS bus. addr.: 100 Universal City Plz., Universal City Plz., Universal City, CA addr.: 522 Fifth Ave., 13th Fl., NY, NY of State of NY (SSNY) on 04/22/2011. SPECIALISTS Universal City, CA 91608. LLC formed 91608. LLC formed in DE on 6/3/11. 10036. LP formed in DE on 4/5/11. NY Office location: NEW YORK County. in DE on 11/8/01. NY Sec. of State NY Sec. of State designated agent Sec. of State designated agent of LP SSNY has been designated as agent • FREE PICKUP & DELIVERY designated agent of LLC upon whom of LLC upon whom process against upon whom process against it may be upon whom process against it may • 48 HOUR TURNAROUND process against it may be served and it may be served and shall mail served and shall mail process to: c/o be served. The Post Office address ON REPAIRS shall mail process to: c/o CT process to: c/o CT Corporation CT Corporation System, 111 8th Ave., to which the SSNY shall mail a copy • FREE ENGRAVING Corporation System, 111 8th Ave., NY, System, 111 8th Ave., NY, NY 10011, NY, NY 10011, regd. agent upon whom of any process against the LLC served • SHORT & LONG TERM NY 10011, regd. agent upon whom regd. agent upon whom process may process may be served. DE addr. of upon him/her is: United States RENTALS process may be served. DE addr. of be served. DE addr. of LLC: c/o The LP: 1209 Orange St., Wilmington, DE Corporation Agents, Inc., 7014 13th LLC: c/o The Corporation Trust Co., Corporation Trust Co., 1209 Orange 19801. Name/addr. of genl. ptr. Avenue, Suite 202, Brooklyn, NY 1209 Orange St., Wilmington, DE St., Wilmington, DE 19801. Cert. of available from NY Sec. of State. 11228. The principal business 19801. Cert. of Form. filed with DE Sec. Form. filed with DE Sec. of State, Cert. of LP filed with DE Sec. of address of the LLC is: 33 West 19th of State, 401 Federal St., Dover, DE 401 Federal St., Dover, DE 19901. State, 401 Federal St., Dover, DE Street, Floor 4, New York, NY 10011 19901. Purpose: all lawful purposes. Purpose: all lawful purposes. 19901. Purpose: any lawful activity. Purpose: media buys.

20 | Crain’s New York Business | August 1, 2011 nb31p20-22cl.qxp 7/29/11 4:02 PM Page 21

PUBLIC & LEGAL NOTICES

Notice of Qualification of Eiger Notice of Qualification of 200/300 NOTICE OF FORMATION OF Exquity Notice of Formation of SHEROW Notice of Qualification of GIAS FIXED International Financial Management LLC North End Avenue Capital LLC. Realty LLC. Articles of Organization MANAGEMENT, LLC. Arts. of Org. INCOME: OPPORTUNISTIC TAX- App. for Auth. filed Sec’y of State (SSNY) Authority filed with Secy. of State of filed with the Secretary of State of filed with Secy. of State of NY (SSNY) EXEMPT FUND LLC. Authority filed on 6/6/11. Office location: New York NY (SSNY) on 06/23/11. Office loca- NY (SSNY) on 05/09/11. Office on 6/8/2011. Office location: NY with Secy. of State of NY (SSNY) on County. LLC org. in DE 2/7/11. SSNY tion: NY County. LLC formed in location: NEW YORK County. SSNY County. SSNY designated as agent of 06/23/11. Office location: NY County. designated as agent of LLC upon whom Delaware (DE) on 06/20/11. SSNY has been designated as agent upon LLC upon whom process against it may LLC formed in Delaware (DE) on process against it may be served. SSNY designated as agent of LLC upon whom process against it may be be served. SSNY shall mail process 06/16/11. SSNY designated as agent shall mail copy of process to 19 West whom process against it may be served. The Post Office address to to: c/o Vaslas, Lepowsky, Hauss & of LLC upon whom process against 44th St., Suite 312, New York, NY 10036. served. SSNY shall mail process to which the SSNY shall mail a copy of Danke, LLP, 630 Third Ave., 5th Fl., NY, it may be served. SSNY shall mail Office address in DE 40 E. Division St, c/o Corporation Service Co. (CSC), any process against the LLC served NY 10017. Term: until 12/31/2061. process to c/o Corporation Service 80 State St., Albany, NY 12207-2543. Co., 80 State St., Albany, NY 12207, Suite A, Dover, DE 19901. Cert. of Form. upon him/her is: 120 E 34th St Apt Purpose: any lawful activity. DE addr. of LLC: c/o CSC, 2711 regd. agent upon whom and at which on file: SSDE, Div. of Corporations, Centerville Rd., Ste. 400, Wilmington, 10J, New York NY 10016. The process may be served. DE addr. of John G. Townsend Bldg., 401 Federal DE 19808. Cert. of Form. filed with principal business address of the Name: AMERIGO A LLC Art Of Org. LLC: 2711 Centerville Rd., Ste. 400, St., Suite 4, Dover, DE 19901. Purpose: State of DE, Secy. of State, Div. of LLC is: 120 E 34th St Apt 10J, Filed Sec. Of State of NY 05/04/2011. Wilmington, DE 19808. Cert. of Form. any lawful activities. Corps., John G. Townsend Bldg., New York NY 10016. Purpose: any Off. Loc.: New York Co. SSNY desig- filed with Secy. of State of DE, 401 Federal St., Ste. #4, Dover, DE lawful act or activity. nated as agent upon whom process Townsend Bldg., Federal & York, Dover, LAFORCE & COMPANY, LLC, a 19901. Purpose: Any lawful activity. against it may be served. SSNY to DE 19901. Purpose: Any lawful activity. domestic Limited Liability Company Notice of Qual. of 371 Seventh Avenue mail copy of process to THE LLC (LLC), filed with the Sec of State of Notice of Formation of LOWLAND Co., Lessee LLC, Auth. filed Sec’y of C/O, Sau Lan Moi, 158 Hester Street, Notice of Formation of Harlem Dowling NY on 6/24/11. NY Office location: PRODUCTIONS LLC. Arts. of Org. State (SSNY) 7/13/11. Office loc.: NY #5G, New York, NY10013. Purpose: Managers LLC, Art. of Org. filed New York County. SSNY is desig- filed with Secy. of State of NY County. LLC org. in DE 7/7/11. SSNY Any lawful act or activity. Sec’y of State (SSNY) 4/27/11. Office nated as agent upon whom process (SSNY) on 06/09/11. Office location: desig. as agent of LLC upon whom location: NY County. SSNY desig- against the LLC may be served. NY County. SSNY designated as process against it may be served. NOTICE OF FORMATION of nated as agent of LLC upon whom SSNY shall mail a copy of any agent of LLC upon whom process SSNY shall mail copy of proc. to David McKane-Lins, LLC. Arts. of Org. filed process against it may be served. process against the LLC served against it may be served. SSNY shall Duncan c/o Denihan Hospitality Group, with Secy. of State of NY (SSNY) on SSNY shall mail copy of process to upon him/her to Marglo Associates mail process to Jason Ludman, 124 551 5th Ave., NY, NY 10176, the Reg. 4/26/11. Office location: NY County. 37 W. 20th St., Ste. 603, NY, NY Ltd., 46 Woodbine Ave., Northport, E. 24th St., Apt. 4H, NY, NY 10010. Agt. upon whom proc. may be served. SSNY designated as agent of LLC 10011. Purpose: any lawful activities. NY 11768. General Purposes. Purpose: Any lawful activity. DE off. addr.: 160 Greentree Dr., Ste. upon whom process against it may 101, Dover, DE 19904. Cert. of Form. be served. SSNY shall mail process Notice of Formation of F. Afrique Media, 116 AVENUE C, LLC, a domestic Notice of Formation of BALANCE on file: SSDE, Townsend Bldg., Dover, to: 520 E. 90th St., 2A, NY, NY LLC. Arts. of Org. filed with Secy. of Limited Liability Company (LLC), filed APPMAKER, LLC, a domestic LLC. DE 19901. Purp.: any lawful activities. 10128. Purpose: any lawful activity. State of NY (SSNY) on 6/21/11. with the Sec of State of NY on Arts. of Org. filed with the SSNY on Office location: NY County. SSNY 4/26/11. NY Office location: New York 06/01/2011. Office location: NY Notice of Formation of DIEPPA NOTICE OF FORMATION OF LIMITED designated as agent of LLC upon County. SSNY is designated as County. SSNY has been designated as RESTREPO LLC, a domestic LLC. LIABILITY COMPANY. NAME: 2589 whom process against it may be agent upon whom process against the agent upon whom process against the Arts. of Org. filed with the SSNY on WESTSIDE ENTERPRISES LLC. served. SSNY shall mail process to: LLC may be served. SSNY shall mail LLC may be served. SSNY shall mail 05/09/2011. Office location: NY County. Articles of Organization were filed with c/o The LLC, 60 5th Avenue, NY, NY a copy of any process against the a copy of process to: C/O Balance SSNY has been designated as agent the Secretary of State of New York 10011. Purpose: any lawful activity. LLC served upon him/her to Marolda Media, 34 W 27th St. 6th Fl, NY, NY upon whom process against the LLC (SSNY) on 05/19/11. Office location: Properties, Inc., 46 Trinity Pl., 3rd Fl., 10010. Purpose: Any Lawful Purpose. may be served. SSNY shall mail a copy New York County. SSNY has been des- HIDDEN VALLEY FILMS LLC, a NY, NY 10006. General Purposes. of process to: 29 Essex St., NY, NY ignated as agent of the LLC upon whom domestic Limited Liability Company Latest date to dissolve 5/1/2041. Notice of Formation of 400 PROPERTY, 10002. Purpose: Any Lawful Purpose. process against it may be served. (LLC), filed with the Sec of State of NY LLC. Arts. of Org. filed with Secy. of SSNY shall mail a copy of process to on 5/27/11. NY Office location: New Notice of Formation of 254 W10TH State of NY (SSNY) on 07/06/11. NOTICE OF FORMATION OF GENIUS the LLC, 253 West 72nd Street, Suite York County. SSNY is designated as STREET P/L LLC. Arts. of Org. filed Office location: NY County. Princ. BRANDS LLC. Filed with Sec’y of 211, New York, New York 10023. agent upon whom process against the with Secy. of State of NY (SSNY) on office of LLC: 667 Madison Ave., 24th State of NY (SSNY) on 5/17/11. Office Purpose: For any lawful purpose. LLC may be served. SSNY shall mail 06/15/11. Office location: NY County. Fl., NY, NY 10065. SSNY designated loc: NY County. SSNY designated as a copy of any process against the LLC Princ. office of LLC: 7 Times Sq., as agent of LLC upon whom process agent upon whom process may be NOTICE OF FORMATION OF Jojotalk served upon him/her to The LLC, 242 NY, NY 10036-7311. SSNY against it may be served. SSNY shall served. Mail copy of process to: USCA, LLC. Arts of Org filed with the Secy West 38th St., P.O. Box 905, NY, NY designated as agent of LLC upon mail process to Timothy P. Terry at 7014 13th Ave, Ste 202, Bklyn, NY of State of NY (SSNY) on 04/05/11. 10018. General Purposes. whom process against it may be the princ. office of the LLC. Purpose: 11228. LLC business address is: 350 Office location: NY County. SSNY Notice of Formation of CHENG MENG served. SSNY shall mail process to Any lawful activity. 5th Ave, FL 4, NY, NY 10118. has been designated as agent upon c/o G. Warren Whitaker, Esq., Day Purpose: Any lawful acts. whom process may be served and FURNITURE LLC. Arts. of Org. filed Pitney LLP at the princ. office of the Notice of Formation of 4 CHELSEA shall mail a copy of any process to with Secy. of State of NY (SSNY) on LLC. Purpose: Any lawful activity. SQUARE, LLC. Arts. of Org. filed with Notice of Formation of Donzoola LLC. the principal business address: 06/17/11. Office location: NY County. Secy. of State of NY (SSNY) on Articles of Org. filed with Secy. of State 1173A 2nd Avenue #134, NY, NY Princ. office of LLC: Daniel Ryan, 195 Notice of Qualification of Miller Pipeline, 07/13/11. Office location: NY County. of NY (SSNY) on 05/19/11. Office 10065. Purpose: any lawful acts. Chrystie St., #501C, NY, NY 10002. LLC. Authority filed with NY Dept. of Princ. office of LLC: 400 W. 59th St., loc.: New York Co. SSNY designated SSNY designated as agent of LLC State on 6/2/11. Office location: NY NY, NY 10019-8200. SSNY designated as agent of LLC upon whom process Notice of Qualification of GERSON upon whom process against it may County. LLC formed in IN on 12/31/10. as agent of LLC upon whom process against it may be served. SSNY shall GLOBAL CAPITAL ADVISORS LLC. be served. SSNY shall mail process NY Sec. of State designated agent of against it may be served. SSNY shall mail process to the LLC, 49 E 21st Authority filed with Secy. of State of to the LLC at the addr. of its princ. LLC upon whom process against it mail process to the LLC, c/o J. Dean ST APT 2D, New York, NY 10010. NY (SSNY) on 06/21/11. Office office. Purpose: Any lawful activity. may be served and shall mail process Amro at the princ. office of the LLC. Purpose: any lawful act or activity. location: NY County. LLC formed in Notice of Qual. of 1180 AOA Funding to: c/o CT Corporation System, 111 Purpose: Any lawful activity. Delaware (DE) on 06/17/11. Princ. 8th Ave., NY, NY 10011, regd. agent Notice of Formation of HID 960 LLC, office of LLC: c/o Gerson Global LLC, Auth. filed Sec’y of State (SSNY) upon whom process may be served. OPPCAP GROUP LLC, a domestic Art. of Org. filed Sec’y of State (SSNY) Advisors, LLC, 70 E. 55th St., 21st 4/28/11. Office loc.: NY County. LLC IN and principal business addr.: Limited Liability Company (LLC), filed 9/11/09. Office location: NY County. Fl., NY, NY 10022. SSNY designated org. in DE 4/26/11. SSNY desig. as 8850 Crawfordsville Rd., Indianapolis, with the Sec of State of NY on 4/15/11. SSNY designated as agent of LLC as agent of LLC upon whom process agent of LLC upon whom process IN 46234. Cert. of Form. filed with IN NY Office location: New York County. upon whom process against it may against it may be served. SSNY shall against it may be served. SSNY Sec. of State, 302 W. Washington St., SSNY is designated as agent upon be served. SSNY shall mail copy of mail process to the LLC at the addr. shall mail copy of proc. to NRAI, Indianapolis, IN 46204. Purpose: all whom process against the LLC may process to c/o Hidrock Realty, Att: of its princ. office. DE addr. of LLC: 875 Ave of the Americas, NY, NY lawful purposes. be served. SSNY shall mail a copy of Abie Hidary, 65 W. 36th St., Ste. c/o Corporation Service Co., 2711 10001, the Reg. Agt. upon whom any process against the LLC served 1200, NY, NY 10018, the Reg. Agt. Centerville Rd., Ste. 400, Wilmington, proc. may be served. DE off. addr.: Notice of Qualification of MILLENNIUM upon him/her to Francis Hager, 14 upon whom proc. may be served. DE 19808. Cert. of Form. filed with 160 Greentree Dr., Ste. 101, Dover, TECHNOLOGY VALUE PARTNERS II Deer Path Ln., Berkeley Heights, NJ Purpose: any lawful activities. Secy. of State of the State of DE, Div. DE 19904. Cert. of Form. on file: (GP), L.P. Authority filed with Secy. of 07922. General Purposes. of Corps., P.O. Box 898, Dover, DE SSDE, Townsend Bldg., Dover, DE State of NY (SSNY) on 06/03/11. Notice of Qualification of AG-Metropolitan 19903. Purpose: Any lawful activity. 19901. Purp.: any lawful activities. Office location: NY County. LP formed Notice of Qualification of IRG 38 LLC. Riverdale Crossing, L.L.C. Authority in Delaware (DE) on 10/14/08. Princ. Authority filed with Secy. of State of NY filed with NY Dept. of State on 4/21/11. office of LP: Millennium TVP II (UGP), (SSNY) on 06/06/11. Office location: Office location: NY County. Princ. bus. Place your business card in LLC, 747 Third Ave., 38th Fl., NY, NY NY County. LLC formed in Delaware addr.: 245 Park Ave., 26th Fl., NY, NY Crain’s Business Connection and 10017. SSNY designated as agent of (DE) on 06/03/11. Princ. office of LLC: 10167. LLC formed in DE on 4/14/11. reach New York City’s LP upon whom process against it may ELB Holdings c/o Eric L. Birnbaum, NY Sec. of State designated agent of be served. SSNY shall mail process 745 5th Ave., NY, NY 10151. SSNY LLC upon whom process against it Top Level Executives to the LP at the addr. of its princ. office. designated as agent of LLC upon may be served and shall mail process Name and addr. of each general whom process against it may be to: c/o CT Corporation System, 111 8th partner are available from SSNY. DE served. SSNY shall mail process to Ave., NY, NY 10011, regd. agent upon addr. of LP: c/o Corporation Service the LLC at the addr. of its princ. office. whom process may be served. DE Co., 2711 Centerville Rd., Ste. 400, DE addr. of LLC: 2711 Centerville addr. of LLC: The Corporation Trust Wilmington, DE 19808. Cert. of Form. Rd., Ste. 400, Wilmington, DE 19808. Co., 1209 Orange St., Wilmington, DE filed with Secy. of State of DE, Div. of Cert. of Form. filed with Secy. of 19801. Cert. of Form. filed with DE Sec. Let Crain’s New York Business Corps., 401 Federal St., Ste. 4, Dover, State, 401 Federal St., Dover, DE of State, 401 Federal St., Dover, DE DE 19901. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. 19901. Purpose: any lawful activity. help you secure new clients in 2011.

August 1, 2011 | Crain’s New York Business | 21 nb31p20-22cl.qxp 7/29/11 4:03 PM Page 22

PUBLIC & LEGAL NOTICES

Notice of Qualification of Far View Notice of Formation of AC Hocek Name of For. LLC: Perella Weinberg NOTICE OF FORMATION OF Hybrid Notice of Qualification of HHLP Union Capital Management, LLC. Authority Architecture LLC. Articles of Org. filed Partners ABV Opportunity Delaware Capital Management, LLC. Articles Square Associates, LLC. Authority filed with NY Dept. of State on with Secy. of State of NY (SSNY) on Intermediate Fund III LLC. App. for of Organization filed with the Secretary filed with NY Dept. of State on 6/15/11. 6/29/11. Office location: NY County. 03/30/11. Office loc.: New York Co. Auth. filed NY Dept. of State: 5/10/11. of State of NY (SSNY) on March 17, Office location: NY County. Princ. bus. LLC formed in DE on 3/10/11. NY Sec. SSNY designated as agent of LLC Jurisd. and date of org.: DE 1/7/11 2011. Office location: NEW YORK addr.: 44 Hersha Dr., Harrisburg, PA of State designated agent of LLC upon whom process against it may be Cty off. loc.: NY Cty. Sec. of State County. SSNY has been designated 17102. LLC formed in DE on 6/14/11. upon whom process against it may be served. SSNY shall mail process to the designated as agent of foreign LLC as agent upon whom process against NY Sec. of State designated agent of served and shall mail process to the LLC, 285 Lafayette Street, 4B, NY, NY upon whom process against it may be it may be served. The Post Office LLC upon whom process against it principal business addr.: 575 Madison 10012. Purpose: any lawful activity. served. Sec. of State shall mail copy address to which the SSNY shall may be served and shall mail process Ave., 10th Fl., NY, NY 10022-2511, of process to: 767 Fifth Ave., NY, NY mail a copy of any process against to: c/o CT Corporation System, 111 Attn: David B. Hathaway, regd. agent Notice of Formation of BRP NMTC 10153. Addr. of foreign LLC in DE is: the LLC served upon him/her is: 126 8th Ave., NY, NY 10011, regd. agent upon whom process may be served. East 24th Street, Suite 1B, NY, NY DE addr. of LLC: Corporation Trust FUND MANAGER LLC. Arts. of Org. Corporation Service Company, 2711 upon whom process may be served. filed with Secy. of State of NY (SSNY) Centerville Rd., Ste. 400, Wilmington, 10010. The principal business DE addr. of LLC: 1209 Orange St., Co., 1209 Orange St., Wilmington, DE address of the LLC is: 126 East 24th 19801. Cert. of Form. filed with DE on 6/17/11. Office location: NY DE 19808. Auth. officer in DE where Wilmington, DE 19801. Cert. of Form. County. SSNY designated as agent Cert. of Form. filed: DE Secy. of Street, Suite 1B, NY, NY 10010. filed with DE Sec. of State, 401 Sec. of State, Federal & Duke of York Purpose: any lawful act or activity. Sts., Dover, DE 19901. Purpose: all of LLC upon whom process against State, Duke & York St., Dover, DE Federal St., Dover, DE 19901. lawful purposes. it may be served. SSNY shall mail 19901. Purpose: any lawful activity. Purpose: any lawful activity. process to: 18 E. 41st St., NY, NY NOTICE OF FORMATION OF GREEN Infrared Capital Partners (US) LLC; 10017, Attn: Steve Smith. Purpose: CAMPRODON INVESTORS LLC, a TAO, LLC. Articles of Organization NOTICE OF FORMATION of Anna App., for Auth., filed with NY Sec. of any lawful business purpose. domestic Limited Liability Company filed with the Secretary of State of NY Seibert LLC. Arts. of Org. filed w/ Sec State (“SSNY”) 5/09/2011. Office in (LLC), filed with the Sec of State of NY (SSNY) on January 25, 2011. Office of State of NY (SSNY) on 4/29/11. New York County; LLC formed in DE Notice of Formation of Troop 41 on 3/7/11. NY Office location: New Location: New York County. SSNY Office location: NY County. Principal on 1/12/2011, SSNY designated Productions, LLC. Arts. of Org. filed York County. SSNY is designated as has been designated as agent upon Business address: 330 3rd Ave, 4H, agent for service of process with with Secy. of State of NY (SSNY) on agent upon whom process against whom process against it may be NY, NY 10010. SSNY has been desig- copy mailed to c/o HSBC Capital 6/23/11. Office location: NY Co. SSNY the LLC may be served. SSNY shall served. SSNY shall mail process to: nated as agent upon whom process (USA) Inc., 452 Fifth Ave, NY, NY designated as agent of LLC upon whom mail a copy of any process against Caroline Angoorly, 212 East 48th against it may be served and shall 10018. All lawful business purposes. process against it may be served. the LLC served upon him/her to Street, Ste 5A, New York, NY 10017. mail process to: c/o Anna Seibert LLC, SSNY shall mail process to: The LLC, Blumberg Excelsior Corporate Purpose: Any lawful act or activity. 330 3rd Ave, 4H, NY, NY 10010. Date Notice of Formation of NS MEDICAL 41 Great Jones St., 5th Fl., NY, NY Services, Inc., 62 White St., NY, NY for Dissolution: None. Purpose of PLLC. Arts. of Org. filed with Secy. of 10012. Purpose: any lawful activities. 10013. General Purposes. NAKEDPIZZA NYC 57TH STREET, LLC; LLC: any lawful activity. State of NY (SSNY) on 5/26/11. Office Arts., of Org., filed with NY Sec. of location: NY County. SSNY designated Notice of Formation of Special Event RESOURCE FURNITURE LICENSING, State (“SSNY”) 2/28/2011. Office in Notice of Qualification of Morgan as agent of PLLC upon whom process Consulting LLC. Arts. of Org. filed LLC, a domestic Limited Liability New York County; SSNY designated Stanley & Co. LLC. Authority filed with against it may be served. SSNY shall with Secy. of State of NY (SSNY) on Company (LLC), filed with the Sec of agent for service of process with NY Dept. of State on 6/2/11. Office mail process to: The PLLC, 73 Spring 5/16/06. Office location: NY Co. State of NY on 3/17/11. NY Office copy mailed to Pryor Cashman LLP, 7 location: NY County. Princ. bus. addr.: St., Ste. 601, NY, NY 10012. Purpose: SSNY designated as agent of LLC location: New York County. SSNY is Times Square, Attn: Richard S. Frazer, 1585 Broadway, NY, NY 10036. LLC practice the profession of medicine. upon whom process against it may designated as agent upon whom Esq., As amended by Cert. of Amend., formed in DE on 5/31/11. NY Sec. of be served. SSNY shall mail process process against the LLC may be filed with SSNY on 4/21/11, the name State designated agent of LLC upon Notice of Formation of FLATIRON to: Louis Rose, 19 East 95th St., Apt. served. SSNY shall mail a copy of of LLC is NP NYC 57th STREET, LLC., whom process against it may be ARCHITECTS LLC. Arts. of Org. filed 3F, NY, NY 10128. Purpose: any law- any process against the LLC served All lawful business purposes. served and shall mail process to: c/o with Secy. of State of NY (SSNY) on ful activities. upon him/her to The LLC, 969 Third CT Corporation System, 111 8th Ave., Notice of Formation of Bowtie 06/20/11. Office location: NY County. Ave., NY, NY 10022. General Purposes. NY, NY 10011, regd. agent upon whom Properties LLC. Art. Of Org. filed with SSNY designated as agent of PLLC NAKEDPIZZA NYC 14TH STREET, process may be served. DE addr. of SSNY on 5/20/11. Office Location: upon whom process against it may LLC; Arts., of Org., filed with NY Sec. Notice of Qual. of 1552 Broadway LLC: 1209 Orange St., Wilmington, DE NY County. SSNY designated as be served. SSNY shall mail process of State (“SSNY”) 2/28/2011. Office Retail Owner LLC, Auth. filed Sec’y of 19801. Cert. of Form. filed with DE Sec. agent for process. SSNY shall mail a to the LLC, 6 W. 18th St., NY, NY in New York County; SSNY designated State (SSNY) 5/4/11. Office loc.: NY of State, 401 Federal St., Dover, DE copy of any process to: c/o Robert 10011. Purpose: Architecture. agent for service of process with copy County. LLC org. in DE 4/29/11. SSNY 19901. Purpose: all lawful purposes. mailed to Pryor Cashman LLP, 7 Times desig. as agent of LLC upon whom C. Susser, Esq., 270 Madison Ave., Notice of Formation of Diana Daimwood Square, Attn: Richard S. Frazer, Esq., process against it may be served. 15th Fl NY, NY 10016. Purpose: To Notice of Qualification of 200 WE Consulting, LLC. Arts. of Org. filed As amended by Cert. of Amend., filed SSNY shall mail copy of proc. to engage in any lawful act or activity. OWNER LLC. App. for Auth. filed with Secy. of State of NY (SSNY) on with SSNY on 4/21/11, the name of NRAI, 875 Ave of the Americas, NY, with Secy. of State of NY (SSNY) on 4/28/11. Office location: NY County. LLC is NP NYC 14TH STREET, LLC., NY 10001, the Reg. Agt. upon whom ALPHA JETS, LLC, a domestic 6/17/11. Office location: NY County. SSNY designated as agent of LLC All lawful business purposes. proc. may be served. DE off. addr.: Limited Liability Company (LLC), filed LLC formed in Delaware (DE) on upon whom process against it may be 160 Greentree Dr., Ste. 101, Dover, with the Sec of State of NY on 5/12/11. SSNY designated as agent served. SSNY shall mail process to: Notice of Qualification of El Toro DE 19904. Cert. of Form. on file: 5/19/11. NY Office location: New of LLC upon whom process against United Corporate Services, Inc., 10 Carmesi, LLC. Application for SSDE, Townsend Bldg., Dover, DE York County. SSNY is designated as it may be served. SSNY shall mail Bank St., Ste. 560, White Plains, NY Authority filed with Secy. of State of 19901. Purp.: any lawful activities. agent upon whom process against process to: c/o The Klein Group, 25B 10606. Purpose: any lawful activity. NY (SSNY) on 05/06/11. Office loc.: the LLC may be served. SSNY shall Hanover Road, Ste. 130, Florham New York Co.; orig. juris.: Texas. SSNY PROFITNESS COLLECTIVE LLC, a mail a copy of any process against Park, NJ 07932. DE address of LLC: Notice of Formation of PETE THE designated as agent of LLC upon whom domestic Limited Liability Company the LLC served upon him/her to The c/o United Corporate Services, Inc., DOG, LLC. Arts. of Org. filed with Secy. process against it may be served. SSNY (LLC), filed with the Sec of State of NY LLC, 400 E. 54th St., Ste. 6G, NY, NY 874 Walker Road, Ste. C, Dover, DE of State of N.Y. (SSNY) on 6/29/11. shall mail process to the LLC, 6904 on 6/17/11. NY Office location: New 10022. General Purposes. 19904. Arts. of Org. filed with DE Secy. Office location: New York County. Hideaway Hollow, Austin, TX 78750. York County. SSNY is designated as of State, Townsend Bldg., Dover, DE SSNY designated as agent of LLC Purpose: any lawful act or activity. agent upon whom process against NOTICE IS HEREBY GIVEN that a 19901. Purpose: any lawful activity. upon whom process against it may the LLC may be served. SSNY shall license number 1255696 for an on be served. SSNY shall mail process Name: 5th AVE DOLLAR LLC Art. Of mail a copy of any process against premises liquor license has been NOTICE OF FORMATION of limited to: The LLC, 101 West 12th Street, Org. Filed Sec. of State of NY the LLC served upon him/her to The applied for by Vargomez Corp. to sell liability company (LLC). Name: ZCAM, Apt. 7Z, New York, NY 10011-8114. 03/22/2011. Off Loc.: New York Co. LLC, 52 ST. NICHOLAS PLACE, #54, liquor at retail in a restaurant under the LLC. Articles of Organization filed Purpose: any lawful activity. SSNY designated as agent upon NY, NY 10031. General Purposes. Alcoholic Beverage Control Law at with Sec. of State of NY (SSNY) on whom process against it may be 300 East 5th Street, New York, N.Y. 6/6/11. Office location: New York Co. NOTICE OF FORMATION OF Farley served. SSNY to mail copy of process Notice of Qualification of BLACKSTONE 10003 for on premises consumption. SSNY designated as agent of LLC Realty Group LLC filed with the to THE LLC, C/O Muhammad Abbasi, STRATEGIC ALLIANCE MASTER upon whom process against it may be Secretary of State of NY (SSNY) on 128 Keswick Drive, Piscataway, NJ FUND X L.P. Authority filed with Secy. Notice of Qualification of MHR INSTI- served and address SSNY shall mail 2/25/11. Office loc: NEW YORK Cty. 08854. Purpose: Any lawful act. of State of NY (SSNY) on 06/07/11. TUTIONAL ADVISORS LLC. Authority a copy of process is 54 West 39th SSNY designated as agent upon whom Office location: NY County. LP filed with Secy. of State of NY (SSNY) Street, 15th Floor, New York, New York process may be served. SSNY shall Notice of Qualification of VCRK formed in Delaware (DE) on 06/01/11. on 06/07/11. Office location: NY 10018. Purpose: any lawful purpose. mail process to the LLC: 60 E 42nd Holdings LLC. Authority filed with NY Princ. office of LP: 345 Park Ave., 28th County. LLC formed in Delaware (DE) Street, Suite 1841, New York, New Dept. of State on 6/15/11. Office Fl., NY, NY 10154. SSNY designated on 01/26/98. SSNY designated as THIRTEEN LIMITED PARTNERSHIP, location: NY County. Princ. bus. addr.: as agent of LP upon whom process York 10165. Purpose: any lawful acts. agent of LLC upon whom process a domestic Limited Partnership (LP), 411 W. Putnam Ave., Greenwich, CT against it may be served. SSNY shall against it may be served. SSNY shall filed with the Sec of State of NY on 06830. LLC formed in DE on 6/9/11. mail process to Blackstone Strategic Notice of Formation of BLDG 123 THIRD mail process to c/o Corporation 5/19/11. NY Office location: New NY Sec. of State designated agent of Alliance Associates II L.L.C. at the AVENUE LLC amended to BLDG 123 LLC upon whom process against it may princ. office of the LP. Name and Service Co. (CSC), 80 State St., York County. SSNY is designated as THIRD AVE LLC. Arts. of Org. filed be served and shall mail process to: addr. of each general partner are Albany, NY 12207-2543, regd. agent agent upon whom process against with Secy. of State of NY (SSNY) on c/o CT Corporation System, 111 8th available from SSNY. DE addr. of LP: upon whom and at which process the LP may be served. SSNY shall 6/17/11. Office location: NY County. Ave., NY, NY 10011, regd. agent upon Corporation Service Co., 2711 may be served. DE addr. of LLC: c/o mail a copy of any process against SSNY designated as agent of LLC whom process may be served. DE Centerville Rd., Ste. 400, Wilmington, CSC, 2711 Centerville Rd., Ste. 400, the LP served upon him/her to Stones upon whom process against it may addr. of LLC: The Corporation Trust New Castle Cnty., DE 19808. Cert. of Wilmington, New Castle Cnty., DE Throw Partners Limited Liability be served. SSNY shall mail process Co., 1209 Orange St., Wilmington, DE Form. filed with DE Secy. of State, 19808. Cert. of Form. filed with Secy. Company, Attn: Evan Bell, Managing to: c/o BLDG Management Co., Inc., 19801. Cert. of Form. filed with DE Sec. Div. of Corps., John G. Townsend of State of the State of DE, 401 Member, 380 Lexington Ave., NY, NY 417 Fifth Ave., 4th Fl., NY, NY 10016. of State, 401 Federal St., Dover, DE Bldg., 401 Federal St., Ste. 4, Dover, Federal St., Dover, DE 19901. 10168. Latest date to dissolve Purpose: any lawful activity. 19901. Purpose: any lawful activity. DE 19901. Purpose: Investments. Purpose: Any lawful activity. 12/31/2099. General Purposes.

22 | Crain’s New York Business | August 1, 2011 20110801-NEWS--0023-NAT-CCI-CN_-- 7/29/2011 8:00 PM Page 1

ranked No. 16 on the U.S. News list, and the City University of New York The race is on came up with a preliminary idea for a State’s top cop research center for the development Continued from Page 1 Abby Joseph Cohen, a partner at of information systems in areas such Continued from Page 1 portunity and a paradigm shift in Goldman Sachs. as new media and cyber security. Eliot Spitzer, despised by Wall science and engineering education,” The university envisions a Roo- CUNY was also part of a group Streeters for his headline-grabbing said Peretz Lavie,president of Tech- sevelt Island campus featuring four including New York University, investigations. nion-Israel Institute of Technology. hubs tied to industry sectors, in- Carnegie Mellon and the Universi- But the fears about Mr. Schnei- Stanford University, ranked No. cluding ones for mobile and social ty of Toronto that proposed an ur- derman have proved unfounded so 2 on U.S. News and World Report’s technology and healthier living. ban science center. Some insiders far. In his first seven months in the 2011 U.S. Graduate Engineering “Our approach is to create some- believe the administration is intent office, the Democrat has cultivated SEEKING Schools list, and No. 10 Cornell thing unprecedented not only here on choosing an institution that isn’t the image of a measured pragmatist DEFINITION: Schneiderman University have been the loudest in in New York City,but unprecedent- already here,as the perception of the rather than the lefty juggernaut he is trying to expressing their desire to team up ed anywhere,” said David Skorton, city as a tech center would be great- channeled on the campaign trail. cultivate a with the city. Cornell’s president. ly enhanced by a top school choos- Instead of brandishing scalps for pragmatic “Applied Sciences NYC is a big ing to open up shop in the city.None the camera, the unabashedly wonky image. idea,” Stanford President John Hen- International partners of the city’s schools are in U.S.News’ Mr. Schneiderman has touted initia- buck ennis nessy said, citing the name of the Carnegie Mellon University, top 15.But Seth Pinsky,president of tives to protect taxpayers and pursue Despite his bank probes, Mr. competition. “Stanford has always ranked No. 6 by U.S. News, con- the city’s Economic Development public corruption. He has backed off Schneiderman is no longer pushing been about big ideas.” In an earlier firmed it will be part of two separate Corp., said, “We’re just looking for his legislative effort to broaden the to expand the Martin Act.As a state round,the university proposed a $1.2 proposals, including one with Stein- the best proposal that will have the Martin Act, which Mr. Spitzer used senator, he tried to pass a bill allow- billion applied research and higher Studios focused on digital media most impact on the city’s economy.” as attorney general to pummel Wall ing defrauded investors to seek technology center on Roosevelt Is- technology.No.11 Purdue Universi- A Columbia spokesman said the Street. restitution under the act, which land that would eventually have 100 ty also intends to submit a proposal. applied sciences are a major compo- “He has gained a great deal of re- gives the attorney general broad faculty members and 2,200 students. The city is advising foreign nent of the university’s $7 billion spect,” said Steven Spinola, presi- powers to investigate fraud in the In April, Mr. Hennessy devoted schools to partner with U.S.-based Manhattanville expansion and that dent of the Real Estate Board of sale of securities and other assets. his annual speech to Stanford’s Aca- universities, largely because of dif- instead of using the locations of- New York,whose members met with “It’s not something I’ve been real- demic Council to the New York bid. ferences in funding and accredita- fered by the city, Columbia “will fo- the newly minted attorney general in ly engaged on since I’ve been in of- The university then publicly re- tion. Stanford and Cornell said they cus on opportunities that are consis- January.Other business leaders have fice,” Mr. Schneiderman said. leased details of its preliminary pro- would consider a foreign partner. tent with our commitment to described Mr.Schneiderman as fair- Pundits say Mr. Schneiderman posal, including how it would use Mr. Lavie, of Technion, was in long-term academic and economic minded and professional. could be looking beyond the finan- technology to extend its Palo Alto New York last week for “serious ne- growth in upper Manhattan.” The favorable perceptions are not cial sector to establish his brand. campus to the city. gotiations” with one of the U.S.- Regardless of whether an insider an accident. Since defeating Staten “This whole notion of ‘blame Cornell went even further. It based institutions that has expressed or outsider is chosen, technology Island District Attorney Daniel Wall Street’ is getting stale,” said hired the city’s top-grossing lobby- interest. A team of Technion and a companies in New York City hope Donovan in November,Mr.Schnei- Jonathan Greenspun, a lobbyist and ist, Suri Kasirer, and powerhouse top domestic engineering school the mayor’s proposal swells the pool derman has courted the groups that political consultant. “Chasing that public relations firm BerlinRosen, would be formidable. of potential employees. opposed him, hustling to meetings bogeyman would not be politically or and snatched up three tables at the “We believe that Israel can be a “Google would have grown and breakfasts of the Manhattan In- practically advantageous for Eric.” Crain’s event. It mobilized alumni model to the city of New York— faster in New York if we had found stitute, the Buffalo Niagara Partner- Some businesspeople are opti- who have tech companies here to how we turned an economy upside more talent,” said Alfred Spector, ship and Westchester business lead- mistic that Mr. Schneiderman will promote the bid. And to shape its down,” Mr. Lavie said, noting that vice president of research at the ers, among others. continue to heed that advice. Since proposal and raise funds, it estab- 60% of the 129 Israeli companies company, which has about 1,100 During his appearances, Har- January,billionaire John Catsimatidis lished a trustee task force, including listed on Nasdaq were started or are scientists and engineers in the city.Ⅲ vard-educated Mr. Schneiderman, has introduced Mr. Schneiderman to Cornellians Irwin Jacobs, a co- run by Technion graduates. 56, plays up his business bona fides. a number of his business associates founder of Qualcomm; Andrew Local universities also plan to sub- LISTEN to a discussion at He discusses how he has cut his of- and has donated $20,000 to the attor- Tisch,co-chair of Loews Corp.; and mit proposals. Columbia University, CrainsNewYork.com/podcasts fice’s costs by hiring a chief financial ney general’s campaign fund. officer and using data-driven management practices. The state’s top Not done with Wall Street cop notes that he has added resources But Mr. Schneiderman’s bank Healthy market for hospital ads to pursue corruption and established investigation proves that he’s not ex- the Taxpayer Protection Bureau. empting Wall Street. While the 50 Mr. Schneiderman also touts his state attorneys general negotiate a Continued from Page 1 attack” and a pop-up ad appears for The tagline: “Amazing things are years as a partner at Kirkpatrick & settlement with banks over their beach offers no respite—there are a hospital near you. happening here.” Lockhart, where he represented mortgage operations, he is leading ads on the Hampton Jitney. One campaign appears to trigger Taking a similar narrative ap- Merrill Lynch, J.H. Whitney & Co. his own examination of how banks Times may be tough for medical another.After New York-Presbyter- proach, NYU Langone uses black- and the New York Stock Exchange. bundled and sold mortgage securi- centers,but they are coming up with ian and other centers began recent and-white still photography for print “I’m the first attorney general in mod- ties during the boom.Delaware’s at- millions for ad campaigns. Health brand-building efforts, Montefiore, ads telling patients’ heartwarming ern history who spent more of my ca- torney general has joined his effort, care institutions in the New York in the Bronx, got into the game. stories in a campaign titled “Any Giv- reer in the private sector than in pub- and California’s and Massachusetts’ area are on track to spend more than “If you don’t play a role in defin- en Moment.” lic service,”he told an Association for offices have expressed an interest. $80 million in advertising this year, ing yourself,others will define you,” Not to be outdone,North Shore- a Better New York audience in April. “If my colleagues [in the business compared with $69.3 million last said Montefiore CEO Dr. Steve LIJ will launch an image-building Some claim he changes his em- community] think that public anger year, according to Kantar Media in Safyer, whose organization in June campaign in the fall based on the phasis with liberals and is simply pay- over the crash and the bailout is Manhattan. First-quarter spending kicked off a campaign for The Chil- slogan “Hope lives here,” said Don ing lip service to rival constituencies. gone, they are mistaken,” Mr. was $19.8 million, up 28% from the dren’s Hospital at Montefiore with Simon, vice president of marketing. An article in the New York Observer Schneiderman said. “We still have year-earlier period. the tagline, “Excellence is closer “It will make an emotional ap- last week profiled Mr.Schneiderman work to do to rehabilitate the image “We are definitely entering the than you think.” The center is also peal, build our image and show that as a champion of the left, supported of the industry.” most competitive hospital-market- about to launch a broader, $3 mil- North Shore-LIJ has widened its by long quotes from the subject. He argues that his inquiry could ing era seen in New York in years,” lion ad effort. “We need to make footprint,” Mr. Simon said. He Though he has been overshad- help restore public confidence and said Ellis Verdi, a partner in DeVi- sure the world-class stuff we are do- points out that the system’s service owed by Andrew Cuomo’s successful allow housing to rebound. But crit- to-Verdi, a Manhattan ad agency. ing in the Bronx is known else- area now includes Manhattan be- first year as governor, Mr. Schneider- ics assail that reasoning. New initiatives have been where,” he said. cause of its acquisition of Lenox Hill man turned heads when he chal- “It’s a signal that the attorney launched or announced by NYU Hospital on the Upper East Side. lenged the Defense of Marriage Act general of New York is not interest- Langone Medical Center (whose ads Investment, not expense Despite the intensity and ex- last week and sued the federal govern- ed in the economic and fiscal inter- are on the jitneys), New York-Pres- The ad binge may seem like an pense of the battles, hospitals are ment for failing to study the effects of ests that are at great potential risk by byterian Hospital,Montefiore Med- extravagance in an era of narrow op- hardly being wasteful, observes hydrofracking in the Delaware Water dragging out a settlement,” said one ical Center and North Shore-LIJ. erating margins and uncertainty David Sandman, senior vice presi- Basin several months ago.He has also financial insider. These and other institutions are not over the impact of government dent of the New York State Health gained national coverage for his in- Mr. Schneiderman’s investiga- only spending more but also promot- budget cuts. But the pressures Foundation, a policy think tank. vestigation of big banks’ peddling of tion could prove to be a fishing ex- ing themselves in new places and squeezing hospitals mean that the “In a perfect world, these dollars mortgage-backed securities during pedition—or make him the next ways, said Mr. Verdi, citing a greater competition to survive is fierce. would be spent on improving patient the housing bubble. “Sheriff of Wall Street.” dependence on television. “Sixty- “We don’t see it as an expense; we care,”Mr.Sandman said.“In the real “He’s been operating very careful- “I am hoping that he doesn’t fol- second commercials were unheard- think of it as a strategic investment,” world, empty beds don’t generate ly and very thoughtfully,” said James low that path,” said Mr. Catsima- of several years ago,” he said. said David Feinberg, vice president revenues,and advertising that results Tierney, a former attorney general tidis.“Business has suffered enough Hospitals are also taking advan- of marketing at New York-Presby- in increased patient volume can be a from Maine who runs the National already. New York has suffered tage of new media, advertising on- terian.The system is running a cam- rational investment.” Ⅲ State Attorneys General Program at enough.” Ⅲ line and buying sponsored links on paign featuring 60-second TV spots Columbia University. “He’s follow- Google and other search engines. in which actual patients recount sto- LISTEN to a discussion at ing the pattern of an AG who expects LISTEN to a discussion at Enter the words “cancer” or “heart ries of near-miraculous recovery. CrainsNewYork.com/podcasts to be there a long time.” CrainsNewYork.com/podcasts

August 1, 2011 | Crain’s New York Business | 23 20110801-NEWS--0024-NAT-CCI-CN_-- 7/29/2011 7:52 PM Page 1

Stalled construction A bitter pill for pharma CEO

Continued from Page 3 ment bank and advisory firm. Continued from Page 3 Forest only compounds the pressure an assistant inspector general said Meanwhile, two sites—in That realization is leading some C. Bernstein & Co. “I understand on the CEO, as Medicare accounted the office was determined to hold Brooklyn and Long Island City, to come up with uses for empty lots. the need to hold CEOs to account, for two-thirds of those sales, accord- more senior health care executives Queens—are back online because of but in this case you had a criminal ing to Bernstein research. accountable.“One of our concerns is the Housing Asset Renewal Pro- Ahead of its time and civil settlement struck months Forest’s difficulties date back to that we’re not protecting federal gram,also 2 years old,that uses pub- One solution—wrapping a site ago, and now the government is 1998, when a subsidiary began pro- health care programs … by contin- lic funds to turn stalled projects into with art—has been popular for coming back with more demands.” moting the company’s blockbuster uing to enter into ... settlements affordable housing. some time. The Downtown Al- At this point, though, the feds where the only result is paying mon- There are also signs of hope at a liance created a public art program aren’t the only ones breathing down ey,which is perceived as a cost of do- few prominent stalled sites. One of dubbed Re:Construction in 2006 to Mr. Solomon’s neck. Carl Icahn has Should Icahn ing business,” the official said. the city’s largest landlords, Boston make active sites less obtrusive. Five bought 7% of Forest’s stock and is HHS has forced out the chief ex- Properties, recently announced that of its 13 installations in the area now demanding that four of his candi- prevail, Forest ecutive of KV Pharmaceutical, who after signing an anchor tenant, it surround inactive sites—including dates be elected to its nine-member pleaded guilty to presiding over the could resume work on an Time Equities’ 50 West St. board at the annual meeting on Aug. would be sold to production and distribution of over- 844,000-square-foot tower Other ideas range from 18. Should Mr. Icahn prevail, the sized morphine tablets. The agency on West 50th Street. Simi- 5 classics like parking lots and new directors will probably push to a larger rival also orchestrated a coup at Purdue larly, real estate sources say NUMBER of community gardens to the sell Forest to a larger rival. Frederick after the CEO and two inactive sites in activity may begin on the downtown slightly odd.Jeffrey Holmes, Adding to the troubles, Forest’s others pleaded guilty to misbrand- long-dormant Drake Hotel Manhattan a principal at architecture earnings are expected to fall by more ing OxyContin. site,at Park Avenue and East wrapped in art firm Woods Bagot New than 50% in the next few years.The What makes the potential expul- 56th Street, by year’s end. York, has conducted feasi- cause of the projected decline is a antidepressant, Celexa, to children sion of Mr. Solomon unusual, Mr. But the length of the list and the bility studies for building temporary “patent cliff,” a drug-industry mala- and teenagers, even though it was Breen noted,is that he wasn’t charged slow rate at which it is getting short- “icebergs” at two stalled sites. The dy in which a company’s patent pro- approved only for adults. According with personal wrongdoing in the er indicate that many lots will re- structures, consisting of white plas- tections on key brand-name drugs to federal prosecutors, Forest con- criminal and civil cases against For- main vacant for a while. Last tic tents over thin steel beams, could expire. In 2013, that will happen cealed a study showing that the drug est. Mr. Solomon has challenged the month’s rise in the unemployment be rented as pop-up stores. with Lexapro, an antidepressant was not effective for minors and exclusion action, but few believe the rate to 8.7% and recent reports of “Everyone is excited about the that accounts for almost half of For- might even pose risks, including government will back down. more Wall Street layoffs contribute concept,”said Mr.Holmes.“The real est’s $4.4 billion in annual sales. making them suicidal. Forest mar- to that outlook. challenge is how to create something The company is feverishly trying keted the drug illegally for four In transition “We won’t see projects come out that will draw people but not inter- to develop new drugs and has had years, the feds alleged. “We’re kind of in this in-between of the ground this year if the econo- fere with future development.” Ⅲ some success, such as with an The company also got in trouble world,” Chief Financial Officer my continues to slow,” said Daniel Alzheimer’s treatment that had more with the Food and Drug Adminis- Frank Perier conceded during a con- Alpert founding managing partner LISTEN to a discussion at than $1 billion in sales in the last fis- tration, which in a 2003 letter ference call with analysts last month, of Westwood Capital, an invest- CrainsNewYork.com/podcasts cal year.Yet that drug’s importance to warned Forest to stop marketing an adding that Forest’s board had already unapproved new drug. Rather than identified Mr. Solomon’s successor. comply immediately, prosecutors (Candidates appear to have included said,Forest tried to move as much of Mr. Solomon’s son, David, who was Corporations fill charities’ coffers the item as possible, going so far as appointed head of corporate develop- to override computer systems, hire ment and strategy last November.) extra trucks and pay staffers over- Meanwhile, Forest must also Continued from Page 4 participated in the Chronicle’s survey the previous year. time at a St.Louis distribution facil- deal with Mr. Icahn. In the confer- timetable for the firm’s three major said that they planned to keep this Citymeals-on-Wheels’ largest ity before halting shipments a day ence call, Mr. Perier described two philanthropic initiatives had been year’s giving at 2010 levels; with a sponsors, Fiji Water and American after receiving the FDA missive. meetings between Forest officials plotted before the recession. few exceptions, the rest expected to Airlines, maintained their giving at Forest pleaded guilty last No- and the activist investor as “substan- Goldman Sachs Gives, a donor- increase donations. previous levels; and the nonprofit vember to obstructing justice, dis- tive but short.” Mr. Icahn has “real- advised fund controlled by the firm’s managed to snag several new tributing an unapproved drug and ly not offered any plan or strategy for partners and launched in 2007, gave Fragile conditions donors. Two of them, Amherst Se- distributing a misbranded drug. In the company,” he added. more than $200 million last year to “This has been a turnaround year, curities and Sprinkles Cupcakes, addition to agreeing to $313 million Mr. Icahn has pointed out that a number of select groups,including but we know how fragile that turn- gave $25,000 each. in penalties—equal to about a third Forest’s stock—priced at about $37 the Harlem Children’s Zone. The around can be,” said Marcia Stein, But individual gifts cover about of earnings in the last fiscal year— late last week—trades for about half other two programs are 10,000 executive director of Citymeals-on- 90% of Citymeals-on-Wheels’ Forest signed a Corporate Integrity as much as it did seven years ago.He Women, a five-year $100 million Wheels. “Once again,” she added, $18.5 million operating budget. Agreement with the Department of has also criticized board members commitment launched in March “corporations and individuals are With talk out of Washington about Health and Human Services’ in- for “putting their personal loyalty to 2008; and 10,000 Small Businesses, feeling uncertain about what they reducing the tax deduction for char- spector general. The matter seemed and friendship with Mr. Solomon a $500 million commitment an- will give because they are uncertain itable donations to 28% from 35%, resolved until April, when the above their fiduciary duties.” nounced in 2009. about the economy.” and President Barack Obama’s plan agency dropped the bomb and in- Mr. Icahn’s slate has a “good “We have been scaling a series of The nonprofit, which delivers to raise taxes on households earning sisted that Mr. Solomon be “exclud- chance” of getting elected because strategic initiatives for the last four meals to New York’s homebound $250,000 or more,Ms.Stein is wor- ed” from Forest. many investors want new directors years,” the Goldman spokesman elderly, just came off a record year. ried that another major downturn What triggered the action isn’t who will keep a closer eye on man- said. Citymeals-on-Wheels raised $1.43 in giving is on the horizon. clear; neither the inspector general’s agement, said Mr. Gal of Sanford The bounty could be short-lived, million in corporate gifts of more “This might have a really severe office nor Mr.Solomon would com- Bernstein, who added, “The share- however. Nearly three-quarters of than $10,000 in fiscal 2011, which impact on our individual giving,” ment. But in an interview in June holders I’ve talked to say, ‘Why the Fortune 500 companies that ended June 30, versus $1.19 million she said. Ⅲ with online publication Pharmalot, wouldn’t I want that?’ ” Ⅲ

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24 | Crain’s New York Business | August 1, 2011 20110801-NEWS--0025-NAT-CCI-CN_-- 7/28/2011 1:29 PM Page 1

8.8% New York City’s unemployment rate for June, vs. 9.4% in June 2010 BUSINESS LIVES Source: NYS Labor Dept.

HOT JOBS EXECUTIVE INBOX Anne Fisher V.P. FINANCE COMPANY Everlast Worldwide Inc. A brain trust JOB DESCRIPTION Monitor for female divisional and overall performance within budgetary business owners framework MOST IMPORTANT TASK Work MARION HINDENBURG, owner with executive committee to and president of Manhattan- keep operating costs within based paper distributor Mrs. budget Paper, recently faced a problem: CREDENTIALS NEEDED A longstanding customer Bachelor’s degree; seven to 10 stopped paying. Ms. Hindenburg years’ experience mentioned the situation at a SALARY $125,000 to meeting of the Women $150,000 Presidents’ Organization, where RECRUITER Internal the guest speaker happened to be a psychologist with expertise DOWNSIDE Possible in customer relations. involvement in significant budget cuts and layoffs The expert’s advice: Keep selling to delinquent customers, UPSIDE Power to influence “because if you cut them off, company’s course they’ll just go run up a tab with Everlast manufactures, markets some other supplier and you’ll and licenses sporting goods never see any of the money you’re and apparel. Its products are owed,” Ms. Hindenburg recalled. sold in more than 20,000 retail But, she said, “we made a locations in the U.S. and Canada. new agreement where, every time this customer ordered a new —IRVIN IBARGUEN pallet of paper, he had to pay for an old one. That approach cut GROWN HERE: A the balance owed from $45,000 EXECUTIVE MOVES former chef, David down to $12,000.” Cavagnaro never It was also typical of the KPMG: thought he’d actually Chris kind of insights WPO members Goodman, 47, joined grow food in the city. the audit, tax and glean from their monthly advisory firm as chief meetings. With six chapters in marketing officer. He the city, the nonprofit WPO, was previously GOTHAM GIGS based on East 55th Street, has executive vice gone global: About 1,800 female president and global business owners on four managing partner at Young & Rubicam. Child Mind Institute: Dr. Michael P. continents have signed up. Their Milham, 36, joined as the founding companies average $14 million director of the Center for the Staten Island Farmer in annual revenues and 93 Developing Brain at the children’s employees.

mental health care organization. He was buck ennis “When I started WPO 14 previously an associate director at the years ago, there were lots of Phyllis Green and Randolph Cowen programs for women-owned Institute for Pediatric Neuroscience at He jokes Though David Cavagnaro has always wanted people to know where the New York University Child Study their food came from, the former chef never thought he would be startups, but nothing for female Center. business owners who were well- Nickelodeon: Sergio that producing it himself. ¶ Mr. Cavagnaro, 50, manages the 11-acre established,” said WPO Cuan, 47, was Decker Farm in Staten Island, a 201-year-old working farm. It is President Marsha Firestone. promoted to senior people part of Historic Richmond Town, a 17th-century restoration village The WPO, she added, is device president and signed to “bring out the genius in creative director of that is a joint project of the Staten Island Historical Society and the often ask the group.” brand and property city of New York. ¶ “Want to see how to grow an urban farm? Come design, for the MTV if it’s a Indeed, willingness to share Networks brand. He here,” said Mr. Cavagnaro, the operation’s only paid employee. He insights is one of the criteria was most recently vice president and former arrives at work as early as 2:30 a.m. from his home six miles away. ¶ for joining the group, where creative director of brand and property Decker Farm is hardly old-fashioned. It doesn’t use chemicals but candidates must own all or part design. of a service business with at least Sidley Austin: Matthew J. Rizzo, 35, landfill harvests its herbs and vegetables, including lettuce, tomatoes and joined the law firm as partner. He was $1 million in annual sales or a previously a partner at McDermott Will zucchini, with modern equipment. Mr. Cavagnaro also raises goats, manufacturing firm with at least & Emery. chickens and other animals. He holds a market twice a week and $2 million in annual sales. “It’s KeyBanc Capital Markets Inc.: Patrick also finds time to prepare a monthly meal for those who want to all about giving, as well as Curry, 39, joined the investment getting,” said Ms. Firestone. banking arm of KeyCorp as a managing sample the output. ¶ Mr. Cavagnaro, who jokes that people often director and head of the new building ask him if the farm was once a landfill, said: “Staten Island gets a bad DO YOU EVER ask other business products practice. He was previously a owners for advice? Tell us at See EXECUTIVE MOVES on Page 26 rap, but there are a lot of gems.This is one of them.” —ian thomas www.crainsnewyork.com/execinbox.

August 1, 2011 | Crain’s New York Business | 25 20110801-NEWS--0026-NAT-CCI-CN_-- 7/28/2011 5:06 PM Page 1

RÉSUMÉ REVIEW Yo! Go to Uncle Louie G’s Is your job search all it could be? We ask the experts. Italian ice cream 15 years ago.They got tired of doing I like the picture. You don’t? NAME MIKE NAJARIAN it. I had my own [Uncle Louie G’s] We like it, but we love the product. SUMMARY business is hot. Check store and wanted to continue. I took Disciplined and accomplished IT executive my three friends Danny, Joe and And who’s in charge of the product? out owner’s Bentley Pete.We took the company over and We have an R&D team, Rocco and PROFESSIONAL EXPERIENCE took the numbers up drastically. Mario. They’re chemists and mix Time Warner Cable flavors. We test every flavor. We Project manager, video engineering BY JEREMY SMERD I noticed you drive a Bentley with Louie bring kids in, volunteers, and get consultant, 2010-present G plates. Business must be good. their ideas. They tell us if it’s too Develop and execute project-implementation plan encompassing audio ince buying a Staten Island It’s OK.What,are you with the IRS? sweet, too bitter. My partner Joe, and video network surveillance devices designed to prevent outages ice cream maker from his he’s a little slow in the head, so he WireLine LLC, Hillsdale, NJ brother in 2009, Dino Russo No. finds the kids. We don’t let him do Founder, technology officer and network consultant, 2004-present and his three partners have Don’t worry about my Bentley. It’s anything in the factory. Draft proposals for small business owners detailing flexible, scalable Sexpanded the Uncle Louie G’s chain my dream car. wide and local area network connectivity; implemented wireless network to 50 shops from 12. Though most What was the hardest flavor to get access points concentrating on increased customer service locations—owned by license-hold- How did you grow the company so right? Reed Elsevier ers—occupy storefronts in Brooklyn quickly? Birthday Cake Surprise. That took Senior project manager, network infrastructure consultant, June 2008 - and Staten Is- We grow by word-of-mouth. We a year. It’s five flavors, but we don’t Aug. 2008 Recruited for short-term engagement to gather sponsor and land, Uncle don’t do too much advertising. We tell people what they are. That and stakeholder requirements to fast-track a data center decommissioning Louie G’s can have a license-holder’s agree- Brooklyn Cheesecake are our most EDUCATION MOVERS & now be found ment. We supply everything popular ice creams. Rainbow and SHAKERS as far away as you need and help you any cherry are the most popular ices. Saint Peter’s College, B.S., 1987 Florida and way we can; you agree to PMI PMP certified, 2009 Dino Georgia.Nine buy our ice cream. You seem like you’re having fun. Résumé appears in condensed form. employees We’re always joking. Some EXPERT ADVICE Russo work in a Who is Uncle people work to live—I live to 6,000-square- Louie G? work. I love coming here. A résumé shouldn’t be over two pages. Eliminate wasted space, such as foot factory It’s just a It’s the best thing I’ve done skipped lines between the company name and role. Also, bullets can be a few that houses 12 name my in my life. I enjoy being sentences, but eight lines is too much information for one bullet. The 40-quart machines producing up to brother here; I enjoy going to the summary and profile should be one section with a statement that Mike is an 1,400 gallons daily of Italian ices and invent- stores. I like to watch IT professional, along with three career accomplishments and his main ice cream.Mr.Russo,who has gained ed.There people eat the ice cream. strengths. The “hands-on technical, training and certifications” section should 30 pounds since he bought the busi- might be I like it when they com- be “Training and Certifications.” Last, “I” should never appear in a résumé. ness, loves to joke but turns serious an Uncle pliment us. Where can a —connie thanasoulis-cerrachio, career expert, when asked about his secret recipes. Louie G liv- family of four go out for Vault.com and SixFigureStart ing in Italy, but less than $10? Uncle Louie How did you come to buy the company? I don’t know. But G’s. What did you think To contact this candidate or to be featured in “Résumé Review,” e-mail us My brother and sister-in-law John I hope he don’t look I was going to say, at [email protected]. and Carmen Russo started it about like the picture. McDonald’s? Ⅲ

buck ennis

EXECUTIVE MOVES covering the metals and mining sector. division at JPMorgan Chase. account supervisor. He was previously the investment firm as head of He was previously a senior analyst for Paul Neuhedel, 47, joined as a managing an account supervisor at McCann institutional sales. He was previously Macquarie Securities. director. He was previously executive Erickson. director of consultant relations at Continued from Page 25 RBC Capital Markets: director of public finance at JPMorgan Donnelly Mechanical Corp.: Toni L. Corbin Capital Partners. managing director and head of building Judith Fishlow-Minter, Chase. Tallerico, 35, was promoted to vice Cowen Group Inc.: Ray Cameron, 48, products and construction at Jefferies 51, joined the Consolidated Carpet: president of construction sales for the joined the financial services firm as a & Co. corporate and Raymond Kappel, 50, mechanical contractor. She had been an managing director and head of Scott Berman, 45, joined as a managing investment banking joined as director of estimator. corporate access. He was most recently director in the mergers and acquisitions arm of RBC as co- operations for the Horizon Engineering Associates: Keith head of issuer services at LiquidNet. group. He was previously a managing head of the U.S. loan commercial floor Seda, 44, joined the building Joshua Jennings, 39, joined as a senior director at Morgan Joseph TriArtisan. capital-markets covering contractor. commissioning firm as director of research analyst in the medical The Topps Co.: Michael Bramlage, 30, investment-banking He was previously engineering. He was most recently technology sector of the research group. joined the creator and marketer of sports group. She was previously a managing director of Strategic Building Solutions’ regional He was formerly a senior medical cards and entertainment products as vice partner at North Sea Partners. information director of commissioning and energy technology analyst at Jefferies & Co. president, digital. He was most recently Harris Kretsge, 55, joined as a managing technology at Stark Carpet Corp. services. A.C. Lawrence & Co.: Dean Dunbar, 50, director and head of product for Nokia director and head of the U.S. municipal Riemer & Braunstein: Steven Fox, 50, New York/New Jersey 2014 Super Bowl joined as managing director of the real Corp. finance public power group. He was joined the law firm as partner in the Host Committee: Mark Bingham, 53, estate brokerage’s relocation division. Nomura: Curt Woodworth, 34, joined the most recently managing director and banking and finance and bankruptcy joined as executive vice president of He was previously a managing senior investment bank as a senior analyst vice president of the public finance practice areas. He was previously a sales. He was previously senior vice agent at BOND New York. partner at Epstein Becker & Green. president, premium partnerships, at the Depository Trust & Clearing Corp.: Adam Maura Russell, 44, joined as partner in New Meadowlands Stadium. Wysota, 46, joined the securities services CORPORATE LADDER the banking and finance and bankruptcy Common Ground: Brenda Rosen, 43, was firm as chief technology officer. He was practice areas. She was previously a appointed executive director of the formerly a managing director at Barclays partner at Epstein Becker & Green. homeless housing and services Capital. SPORT SALES PRO CIRCLES BACK TO NASCAR Jonathan Jacobs, 31, joined as an associate organization. She had been acting The Rosen Group: Abby SEAN DOWNES, 40, was named managing director, business development, at in the banking and finance and executive director. Berman, 28, was Kilpatrick Townsend & Stockton: Nascar. With the hire, the 63-year-old racing association welcomes Mr. bankruptcy practice areas. He was Jill K. promoted to vice previously an associate at Schulte Roth Tomlinson, 38, joined the law firm as an president at the public Downes back into the fold. He was director of partnership marketing at the & Zabel. associate. She was previously an relations firm. She was Daytona, Fla.-based organization from 2005 to 2009. Brett Nizzo, 35, joined as an associate in associate at Cowan Liebowitz & previously a senior In his new role, Mr. Downes will be located in New York and will lead the banking and finance and bankruptcy Latman. account executive. Nascar’s sales efforts by focusing on adding blue-chip sponsors to invest practice areas. He was previously an Kelley Drye & Warren: August T. Horvath, Schiff Hardin: William across the sport—from the sanctioning body to the team and track levels. associate at Epstein Becker & Green. 44, was named a partner at the law firm. B. Duff, 62, joined the Most recently, Mr. Downes was vice president, Anthony Stumbo, 36, joined as an He was most recently special counsel. law firm as a partner. He was previously associate in the banking and finance and Vme: Ariel Martinez, the chair of employee benefits and corporate hospitality sales at Madison Square bankruptcy practice areas. He was 33, joined the Spanish executive compensation at Katten Garden, where he generated $200 million in new previously an associate at Epstein television network in Muchin Rosenman. business and renewals. From 2004 to 2005, he Becker & Green. the newly created role —jonas altman-kurosaki served in a similar role as vice president at Strategic Bret Votano, 34, joined as an associate in of director of EXECUTIVE PROMOTIONS Sports Group, where he worked on securing new the banking and finance and bankruptcy integrated marketing business and managed a portfolio of brands invested practice areas. He was previously an and digital sales. He The fastest way to get an announcement into in multiple sports properties, including Nascar. associate at Paul Hastings Janofsky & was most recently Crain’s is to submit online. Fill out the form Walker. director, interactive at www.crainsnewyork.com/section/ —JONAS ALTMAN-KUROSAKI Doremus: Joey Jackson, 30, joined the media sales marketing, at Univision. executive_moves. The Executive Moves column business communications firm as an Horizon Kinetics: Steve Butler, 43, joined is also available online.

26 | Crain’s New York Business | August 1, 2011 20110801-NEWS--0027-NAT-CCI-CN_-- 7/28/2011 1:32 PM Page 1 chemex / INSATIABLE CRITIC Gael Greene monthly networking event from 8:30 flickr.com THE a.m. to 10:30 a.m. The event will feature a keynote startup story and a networking model for intergenerational mentoring, bartering and resource exchange. The WEEK event will take place at the Science, Industry and Business Library, 188 Madison Ave. The cost to attend is $20. Miss Lily’s draws AHEAD For more information and to register, visit www.greenbreakfastclub.com or call AUG. 8-14 (888) 910-9980. bloomberg news diverse crowd CULTURAL EVENTS THURSDAY, AUGUST 11 WHAT SHE’S WORKSHOPS The Young Members Circle of the READING Village eatery serves TUESDAY, AUGUST 9 Museum of the City of New York invites ASIAN WOMEN IN BUSINESS invites you to guests between the ages of 21 and 39 to up Jamaican in Anna “The Main Ingredient: Starting a the fourth annual BIG APPLE BASH NEW YORK’S junior senator, Kirsten Successful Restaurant.” A panel of benefit party.The event will feature Gillibrand, is known for her Wintour’s backyard industry professionals will address issues music, raffles, cocktails and dancing to legislative focus on women’s ranging from financing to food service benefit the museum. The benefit will issues, and that interest extends iss Lily’s sizzles with management, offering strategies for take place at the museum, 1220 Fifth to her leisure time as well. Right success. The workshop will take place at Ave., from 7 p.m. to 11 p.m. The cost to a runway of late- now, Ms. Gillibrand is reading Mika night chic-lettes Pranna Restaurant, 79 Madison Ave., attend is $40 for members, and $70 for from 6 p.m. to 9 p.m. The cost is $50 for nonmembers and members purchasing Brzezinski’s Knowing Your Value: and long-haired members and $80 for nonmembers. To tickets at the door. For more information Women, Money and Getting What bikers in ’80s thrift register, visit www.manhattancc.org. For and to purchase tickets, visit You’re Worth. The MSNBC co- shop primp.I can’t swear I am simply M martyn thompson information, call (212) 868-1368. www.mcny.org or call (212) 534-1672, host’s blunt manifesto discusses pleased by the robust goat curry and TONED DOWN? Jerk chicken ext. 3328. equal pay for women, something WEDNESDAY, AUGUST 10 savory oxtails. I might be mesmer- that Ms. Gillibrand holds close. Join the Real Estate Investors TUESDAY, AUGUST 9, TO Pick ized by immersion in a rainbow of di- MISS LILY’S “It’s an important book versity to rival Red Rooster uptown. Association of NYC for TAX LIENS AND SATURDAY, AUGUST 13 of the DEEDS INVESTING EXPOSED. JOYCE THEATER because it talks about a struggle The slim unreal fawn with heart- FAVORITE CAKES Real estate Join the in week shaped derriere in a striped evening 132 W. Houston St. investor George Fuchs will share his celebrating the return of that a lot of people have, which is (646) 588-5375 experiences and talk about how to ODC/Dance and the asking for the level of compensa- gown. The mahogany showstopper become successful.The seminar will take company’s 40th anniversary. Artistic in a bare red mini. A young Diana www.misslilysnyc.com tion that they deserve,” Ms. place at The New Yorker Hotel, 481 director and founder Brenda Way Gillibrand said. “A lot of my staff Ross in black silk cutouts. Wouldn’t Eighth Ave., third-floor meeting room, presents the New York premiere of they make a great fashion spread? from 6:30 p.m. to 10 p.m.The cost is $25 Waving Not Drowning (A Guide to members are reading this, too, And that’s just the staff. CUISINE Jamaican for members and $30 for nonmembers. Elegance). Performances begin at 7:30 and they can see themselves in To register, visit . For p.m. on Tuesday and Wednesday, and at her story.” The dazzle arrests me mid- PRICE RANGE Entrées $15-$23 www.reianyc.com chomp on the marvelous jerk-grilled more information, call (646) 278-6724. 8 p.m.Thursday through Saturday. Her other read right now is SERVING Lunch, dinner, brunch Tickets range from $19 to $49 and can corn. Its toasted coconut makes it a ETWORKING CPS N Bossypants, by Tina Fey, which be purchased by visiting www.joyce.org or she says is “just hysterical,” and strong contender in the ethnic corn RESERVATIONS A must MONDAY, AUGUST 8 calling (212) 242-0800. league. Miss Lily’s Favorite Cakes is The GREEN BREAKFAST CLUB will hold its —suzanne panara “a wonderful biography about not Anna Wintour’s worst night- NOISE LEVEL Gets noisier as how to succeed in comedy.” night goes on mare. It’s not the Serge Becker club To view Crain’s classified events listings, go to www.crainsnewyork.com/events —ELIZA RONALDS-HANNON in her Village backyard that she I can’t wait to return. protested so eloquently at the Com- I will definitely go back. munity Board 2 meeting in St. An- thony of Padua’s basement. Becker I’ll let them simmer awhile. retreated on plans for the private par- NO HATS Never again. ty room next door with a terrace that might waft jerk smells and yells into CRAIN’S PRESENTS: the landmarked MacDougal-Sulli- drag through bland ackee escapes me. van garden out back shared by just 22 As it nears 10, dim lights grow townhouses, including Wintour’s. dimmer, the music—an island mix C E & And big shock, I have no prob- of reggae and hip-hop—gets loud-   lem reserving for fabulous Thurs- er. Instead of complaining, I find day. So much for a club snub. Al- myself bouncing along. H P  ready I’m sliding on orange Amalie, our guest’s date, takes a leatherette into a narrow booth with bite of her jerk chicken warily and Crain’s New York Business’ annual Corporate Events & a down-home Formica table, defi- announces she can handle it. It’s Holiday Parties sponsored section caters to meeting nitely digging the Caribbean cute: juicy enough, even the white meat, and event professionals with tips and expert advice on dish towel napkins, checkerboard but the bird seems to have lost its es- floors, and sconces of big flowered sential jerk heat. Bradford Thomp- planning successful corporate events in New York. platters centered by lightbulbs. son, executive chef here, is married In the harrowing countdown to to a Jamaican woman whose late Timed to reach New York’s event professionals while convince the neighborhood that Miss mother was a jerk chicken legend they are gearing up to make holiday event plans, Lily would not be anything like Beck- and has followed her recipe, but ad- this feature includes must-read information for er’s bawdy nightclubs, but rather a mits it might have gotten too toned those navigating the event planning scene in the modest Jamaican restaurant,the right down after complaints. Meanwhile, city. Don’t miss this unique sponsored section to sell serious booze fell by the way- we have a spray bottle of jerk sauce appearing in Crain’s New York Business. side. So, we’re making do with $14 on the table to shoot it up. cocktails, like Champagne Bubbla Jerk is not the only way to go. (with Lillet and raspberries) and There’s a vegan Bushman plate, Pressure Drop (sake mixed with fresh steamed grouper, and my oxtails lay- lime juice and kaffir lime leaves). ered with deep flavor from three days Our India-born fire-loving friend marinating in garlic, onion, scallion, A C A eats the torrid pepper shrimp, shell ginger and carrot.The rice and beans  :   and all, but graciously peels one for don’t thrill me. Still, I’m eating the I D: S  his spice-wary date. These heads-on coleslaw alongside—ordinary, but firecrackers—named Middle Quar- freshly made.And I’d be back for the ters for the Jamaican town famed for splendid “pasture raised” curry goat www.crainsnewyork.com them—are almost too hot for me. with Irish potatoes. For more information, please contact The cod fritters are safe enough, Of course, we’ll have dessert. Irene Bar-Am at 212.850.7611 or plump so you can taste the cod, Coconut cake so rich and lush does [email protected] though their curry sauce seems bash- the trick. ful with the salty, Scotch bonnet shrimp burning on your lips.The lure Copyright © 2011 by Gael Greene. of slightly soggy plantain chips to Syndicated by www.insatiable-critic.com.

August 1, 2011 | Crain’s New York Business | 27 CN014519 7/21/11 3:19 PM Page 1

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The new Sprint Biz 360. A range of custom solutions that wear as many hats as you do, rain or shine.

With the new Sprint Biz 360, our business specialists can help you find a variety of custom solutions to grow your business, including instant hotspots, mobile payment processing and the powerful Motorola Photon™ 4G. So let’s start building solutions at sprint.com/biz360 or by calling 877-9-BIZ360 (877-924-9360).

Biz 360 offers are available to corporate-liable customers only. Additional fees or monthly recurring charges may apply. Motorola Photon 4G requires activation on a select plan and a $10 Premium Data add-on. May require up to a $36 activation fee/line, credit approval and deposit. Up to a $200 early termination fee/line applies. Service availability is dependent upon phone/device. Coverage is not available everywhere. The Nationwide Sprint Network and the Sprint 3G Network reach over 278 million and 274 million people, respectively. The Sprint 4G Network reaches over 70 markets and counting, on select devices. See sprint.com/4G for details. Not all services are available on 4G, and coverage may default to 3G/separate network where 4G is unavailable. Offers are not available in all markets/retail locations or for all phones/networks. Pricing, offer terms, fees and features may vary for existing customers not eligible for upgrade. Restrictions apply. MOTOROLA and the Stylized M Logo are registered in the U.S. Patent and Trademark Ofﬁ ce. ©2011 Sprint. All rights reserved. Sprint and the logo are trademarks of Sprint. Other marks are the property of their respective owners.