In No Hurry to Drop Gas Surcharges

CNYB 09-08-08 A 1 9/5/2008 8:15 PM Page 1

TOPSTORIES SMALL BUSINESS Crain’s names A handful of Antunes editor; economic sectors David becomes offer havens during editorial director ® a downturn PAGE 3 PAGE 19 The unintended consequences of a VOL. XXIV, NO. 36 WWW.CRAINSNEWYORK.COM SEPTEMBER 8-14, 2008 PRICE: $3.00 third term for Mike GREG DAVID, PAGE 13 Lawsuits will delay In no hurry Nets arena beyond target date to drop gas THE INSIDER, PAGE 14 NO LONGER SECOND FIDDLE surcharges Businesses wary CEO’s tech focus helps of cutting add-ons exchange make inroads for fuel costs; some pad profits BY AARON ELSTEIN BUSINESS LIVES BY MATTHEW SOLLARS in mid-july, Chief Executive Robert Greifeld claimed a big Taking time off victory in Nasdaq’s long-standing war with the New York to work the tents many new york businesses are in for Fashion Week Stock Exchange: His marketplace surpassed the exchange as no rush to roll back surcharges they PAGE 39 the place where the NYSE’s blue-chip listings are most- imposed when fuel costs skyrocket- traded.To rub it in, Mr. Greifeld paid about $125,000 for an ed earlier this summer,even though ad in The Wall Street Journal. prices have dropped more than 10% CRAIN’S The NYSE shot right back, dashing off a letter to cus- since peaking in mid-July. FASHION See NASDAQ on Page 9 The companies insist that it is too early for them to pass along WEEK savings because prices could rise BLOG again with little notice in this buck ennis Adrianne volatile energy market. Addition- AHEAD OF THE PACK: Robert Wyatt’s Pasquarelli reports ally, they say they are still trying to delivery company has cut fuel surcharges. from the shows on recoup expenses incurred before crainsnewyork.com they raised prices or instituted surcharges. for his customers, which are pri- Warren Kremin, president of marily high-end restaurants and Fathers Fish Co. in the Bronx, specialty food stores,in a month or AT DEADLINE thinks he will be able to cut prices See GAS on Page 8 GFI CAPITAL RESOURCES GROUP AND THE CARLYLE Group are forming a $300 million joint venture to buy Crunch derails distressed residential apartment buildings.The venture will leverage that cash to buy $1.2 billion worth of Spanish developer properties. GFI, a Manhattan- based diversified real estate one deal and is trying to sell that company, owns 20,000 Newcomer closes building even though it hasn’t been apartments in five states, refurbished. It has forfeited de- including New York. Joint only one of 6 deals, posits on three of the buildings be- ventures have become loses 3 deposits cause partners backed out and fi- increasingly popular as TECH SAVVY: CEO nancing wasn’t unavailable. Now financing remains difficult and Robert Greifeld has Renta is struggling to purchase the made computer BY THERESA AGOVINO expensive to obtain. technology a priority remaining two or sell the contracts. at Nasdaq. “It’s like a guerrilla war. It is a WORKS BY MORE THAN 200 executives at Renta Corporación face-to-face fight every day,” says FAMOUS ARTISTS, INCLUDING Real Estate SA thought its strate- Eduardo Rabassa, Renta’s U.S. Chuck Close and Kara gy of flipping buildings would managing director. “We probably Walker, will be auctioned off work perfectly in Manhattan, a selected the worst moment to Tuesday to raise money for market overflowing with buyers come here.” See AT DEADLINE on Page 2 and capital. Since setting up shop As the credit crisis enters its

buck ennis here about a year ago, the second year, Renta is emblematic Barcelona-based firm has signed of the many buyers who overpaid

36 contracts agreeing to pay top dollar for properties and are now trying

5 COMINGNEXT WEEK for six buildings it planned to ren- to close deals in an inhospitable A year after the credit crisis began, the ovate or reposition before selling. market. But Renta has another city’s commercial real estate market Renta’s timing couldn’t have problem: It is a newcomer that’s CONTINUES TO TRY TO COPE with the been worse. The company’s debut failing to finalize transactions, so ELECTRONIC EDITION fallout. Also, NY’s largest REITs. here coincided with the start of the its reliability is being questioned.

NEWSPAPER credit crunch.Renta has closed just See CRUNCH on Page 8 71486 01068 0 CNYB 09-08-08 A 2 9/5/2008 8:16 PM Page 1

CHANGE AGENT: Dentsu’s U.S. unit, run by Tim Andree, needs to AT DEADLINE earn a big client without help from its Continued from Page 1 has already launched an Japanese parent. social activist organizations in interactive Web site to advance of the presidential showcase the stadium, election. Artists for Change, the www.newjetsstadium.com, and group organizing the event, was unveiled a new tag line, “Finally, formed this summer to support we’re the home team.’’The tag organizations with a progressive line refers to the fact that the agenda in 2008 and beyond. Jets have been a visitor in every The auction will take place at venue they’ve played in. the Phillips de Pury Gallery at 8 However, the team will share p.m. It is expected to bring in the facility with the New York $1.5 million, with proceeds Giants NFL team. Fly declined going to a number of groups to disclose the amount spent on including USAction, the the campaign. nation’s largest grassroots organization fighting for HOME SHOPPING NETWORK affordable health care and other QVC IS BROADCASTING FROM issues.The political arm of the third-base dugout of Yankee Planned Parenthood of America Stadium for five hours today, and the Brennan Center running live segments from Strategic Fund, which focuses midnight to 2 a.m., 10 a.m. to on fair voting practices, will also 11 a.m., and 6 p.m. to 8 p.m.The receive funds. West Chester, Pa.-based company plans to boost its $6.5 ALVIN AILEY AMERICAN DANCE billion revenues by selling limited- THEATER WILL HOLD A ONE-DAY edition card sets, autographed ticket sale on Sept. 13 for the stadium memorabilia, apparel

first night of its New York and collectibles. Baseball greats neff david season, to be held at New York Reggie Jackson, Whitey Ford, City Center on Dec. 4. In honor Don Larsen and Goose Gossage of the dance company’s 50th will appear. anniversary, ticket prices during the sale will drop to $19.58— CIRCLE LINE DOWNTOWN IS the year the company was REDUCING ITS BOAT TOURS TO Dentsu’s ad campaign founded—from the usual $70 to The New York City Waterfalls $100.Target Corp. is due to the Public Art Fund’s subsidizing the sale. decision to cut back on the art Agency uses parent’s power but aims to leave its shadow project’s operating hours. Olafur THE NEW YORK JETS HIRED A Eliasson’s $15.5 million project BY AMANDA FUNG MANHATTAN BOUTIQUE AD will pump cascades of East agency to help promote the River water to the top of four team’s new stadium as the man-made waterfalls for only when tim andree took the helm of the U.S. operations of Dentsu Inc. two years ago, the organization tries to convince about 50 hours a week instead of Manhattan-based ad agency was a small, relatively unknown shop, and it was facing huge season ticket holders to pay 100 beginning Sept. 8 after expenses. It was also lost in the shadow of its parent company in Japan—the largest agency in between $4,000 and $25,000 for complaints that the salt water the world. personal seat licenses. Fly was damaging trees in Communications will develop Brooklyn. Circle Line will To change that, Mr. Andree restructured staff, snapped up talent to rejuvenate the rank and the messaging, direct mail and adjust its 30-minute tours file, and slashed costs by moving the agency from midtown to cheaper office space in TriBeCa. collateral across all media for the starting the same date to Also, instead of ignoring the business’s Japanese roots, he leveraged the power of its parent new 82,500-seat stadium, correspond with the reduced scheduled to open in 2010. It hours. global brand and renamed the agency from DCA to Dentsu America Inc. “It was certainly important to set a new vibe for the agency,” says Mr. Andree, 47, who was recently named the first non-Japanese executive officer of Dentsu in Japan. “It’s nice to have accomplished that.” THIS WEEK IN CRAIN’S Now that Dentsu America has established a sound footing in the U.S.—it has become one of the fastest-growing ad agencies in the nation—it has its eye on winning at least one major IN THE MARKETS ------4 See DENTSU on Page 10 NEIGHBORHOOD

JOURNAL------11

GREG DAVID ------13 THE INSIDER------14 Little fallout for Rangel WEEK IN REVIEW ------16 41 REPORT: rent from his Dominican Republic man of the committee that oversees Criminal charges, villa,four days after the New York Post the U.S. tax code. SMALL BUSINESS------19 censure unlikely reported the omission of the income “It certainly lends itself to the from his financial disclosure forms. question, if he can’t manage his own REAL ESTATE DEALS------35 for congressman taxes, how can he manage the Ways No harm from apartment controversy CLASSIFIEDS ------36 after tax revelation and Means committee?” says Susan the implications for Mr. Rangel Del Percio, a Manhattan-based BUSINESS LIVES------39 personally will be minimal because consultant who has worked with BY ERIK ENGQUIST criminal charges are not likely to be Republican candidates. THE WEEKS AHEAD ------40 filed,and even a formal censure seems Mr. Rangel has held his Harlem CORPORATE LADDER------41 the revelation that Rep. Charles like a long shot. Democrats snuffed seat for 38 years and faces minimal Rangel failed to declare rental in- out a censure motion made by Re- opposition in the upcoming elec- EXECUTIVE MOVES------42 43 come from his vacation property publicans when Mr. Rangel’s use of tion. BOB LAPE ------43 won’t cost him his seat in Congress or four below-market-rent apartments But Republican operatives say chairmanship of the House Ways came to light earlier this summer,and the tax story will be used against vul- vol. xxiv, no. 36, september 8, 2008—Crain’s New York Business (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Period- and Means Committee, but it does House Majority Leader Nancy Pelosi nerable Democrats whose cam- icals postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address provide ammunition for Republi- is not expected to strip the congress- paigns have benefited from Mr. changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a cans, political observers say. man of his powerful chairmanship. Rangel’s prodigious fundraising. copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents The Harlem Democrat’s lawyer Still, Republicans pounced to- copyright 2008 by Crain Communications Inc. All rights reserved. acknowledged Thursday that Mr. day, noting the irony of incomplete COMMENTS? Rangel had not declared $75,000 in tax returns being filed by the chair- [email protected]

2 | Crain’s New York Business | September 8, 2008 CNYB 09-08-08 A 3 9/5/2008 7:54 PM Page 1

Delia’s finds new color Kids’ hospital ment changes, result- Clothing company RETAILER’S UPS AND DOWNS ing in shifting target joins ‘in’ crowd demographics—from younger tweens to on tap? with trendier styles; older college stu- plans 2 new stores dents—a headquarters move, and mer- 2 Brooklyn facilities chandise that failed may join forces; could BY ADRIANNE PASQUARELLI to deliver. “While we be- rival city’s major sites a little color goes a long way in lieve there is today’s gray economy. Retail and growth ahead for direct-marketing company Delia’s Delia’s in terms BY ELIZABETH MACBRIDE Inc., long lacking appealing duds of adding more for 12- to 19-year-olds, has added stores and im- maimonides Infants and Children’s brights to its whites, and its proving profit Hospital and SUNY Downstate prospects are much sunnier, too. margin, we Medical Center in Brooklyn are ex- The company surprised the would like to ploring the idea of creating a bor-

market two weeks ago by posting lindström bekka gain greater oughwide pediatric hospital. second-quarter revenue growth confidence Discussions have been “very pre- and a smaller net loss.The stock has ders. All three brands are offered in its ability liminary,” says Dr. Steven Shelov, soared by 50% in the past two through catalog mailings, which to grow its retail vice president of the Maimonides months, although it trades at only account for about 59% of the firm’s segment prof- pediatric facility. A SUNY Down- about $2.40 a share. overall revenues. Delia’s also boasts itably,” wrote state spokesman confirms that there With a new president in charge retail locations, all in shopping Samantha Panella, have been talks but says that it would of its main brand, Delia’s is ramp- malls.Since the spinoff,the compa- an analyst at Ray- be premature to disclose details. ing up product lines,improving op- ny has struggled to get back onto mond James, in a Maimonides is the smallest of erations and increasing its store its feet and turn a profit. recent research the four children’s hospitals in the base—currently at 94 and count- report. Addition- city.Pooling its resources with those Showing her flair ing. This season, retail insiders SHARE OF OVERALL ally, all of the of SUNY Downstate’s pediatrics were surprised to see shelves a new president for the REVENUES that come company’s stores department could create a children’s stocked with trendier back-to- Delia’s brand, Michelle Don- from sales of items are in malls, a retail hospital on par with the other special- school offerings, instead of the nan Martin, is helping in the 59% through catalogs segment that is per- ized centers: Mor- same me-too products displayed in effort.With a résumé boasting forming poorly. gan Stanley Chil- prior years. employment at retail giants To cut costs, Delia’s be- dren’s Hospital in “On one of my mall tours, I took Abercrombie & Fitch and J. gan co-mailing its Delia’s Manhattan, which 40%DECLINE in hospitalizations special note of the freshness and Crew, Ms. Martin came on board and Alloy catalogs, and is making is affiliated with of children particularly the color content of last January. The current back-to- other cutbacks. It is ordering 25% New York-Presby- over the past their fall offerings—they were very school offerings—full of violet less inventory—except for denim, terian; The Chil- decade crisp and fresh,” says Bob Grayson, sweaters, turquoise stripes and flu- which remains popular—to avoid dren’s Hospital at co-president of retail consultancy orescent T’s—are the first exhibits pared with the same period last overstock and markdowns. The Montefiore in the Bronx;and Schnei- Grayson/Hughes. of her flair. year, to $58.1 million. Significant- clothier also plans to open two ad- der Children’s Hospital in Queens, Yet the teenybopper retailer has “What I bring to the table is to ly, same-store sales increased 5.2% ditional stores within the next six which is part of the North Shore- been here before. Time after time, continue to refine our focus and to in the quarter. months, both of which will be in Long Island Jewish Health System. the company has put forth what push for an assortment that’s con- California, a market teeming with Children’s hospitals typically are seemed to be an appealing product sistent across all classifications in Posting losses teens. not big moneymakers, but they do mix, but it has continually disap- use of color, fabric, trend, silhou- despite its revenue gains, The question is whether Delia’s attract donors and bring prestige. pointed investors. ette, proportion,” said Ms. Martin Delia’s lost $5 million in the second can keep moving ahead in this Having at least 140 to 150 beds al- Three years ago, Delia’s parent, during a recent conference call with quarter, compared with a loss of tough retail climate. “I don’t see lows a hospital to attract patients media marketing firm Alloy Inc., investors.The company did not re- $5.1 million in the second quarter dominance yet, but I see them as a and subspecialists from a wide area. spun off the unit, which is now turn calls for comment. of last year, due to high operational contender,” says Mr. Grayson. Larger facilities also can better af- made up of three brands—Delia’s For sales, the strategy seems to costs and 14 new store openings. ford expensive equipment. and Alloy, both for teen girls, and be working. For the quarter ended Over the years,the company has COMMENTS? CCS, a skater brand for both gen- Aug. 2, sales grew by 10.8%, com- suffered through multiple manage- [email protected] Health care transformation the growth of specialized hospitals stems from changes in children’s health care. Because many illnesses that once required long hospital stays can now be treated on an outpatient basis, hospitalizations of kids are de- Antunes named clining: They have fallen 40% over the past decade, says the National Association of Children’s Hospitals and Related Institutions.As a result, general hospitals have been paring editor of Crain’s back or closing their pediatrics units. Children who do require hospital- edition and Web site. Ms. An- found the best ization need more complex care, and CNNMoney.com tunes, 44, assumes the position person to do so, the specialized hospitals are grab- vet joins on Oct. 6; from longtime editor Greg David, because of her bing a growing share of that market. 58, who, as previously announced, powerful combi- Xana Antunes Greg David A larger children’s hospital in David becomes will assume the position of edito- nation of online Brooklyn could be a decade away, editorial director rial director. and business print experience.” “The business of New York City Dr. Shelov says, even if the current In the past year,Crain’s print edi- is the business of the world, and discussions bear fruit. xana antunes, formerly executive Several major awards tion has been honored for general Crain’s has the rare privilege and Dr. Shelov has been in the van- editor of CNNMoney.com and ed- “crain’s new york business has a excellence for weeklies by the Soci- challenge of covering the city’s guard of opening specialized facilities itor of the New York Post, has been great team of journalists,and the ad- ety of American Business Editors moneyed and powerful elite on a here. At Montefiore, he chaired the named editor of Crain’s New York dition of Xana will make us even and Writers and won the coveted daily basis,” says Ms. Antunes. “I’m group whose work led to the creation Business. stronger,”says Publisher Jill Kaplan. General Excellence Award from thrilled to have the opportunity to of its children’s unit.After moving to Ms. Antunes’ appointment is “The search has taken some time the Alliance of Area Business Pub- lead this talented team and to con- Maimonides, Dr. Shelov helped es- effective Oct. 6, when she will take because we all knew it wouldn’t be lications. Its Web site continues to tinue to grow and develop Crain’s as tablish its children’s hospital. charge of the paper’s 33-person easy to find someone to succeed show sharp increases in visitors and a multiplatform must-read.” editorial staff and both the print Greg.But we are convinced we have page views. See CRAIN’S on Page 10 COMMENTS? [email protected]

September 8, 2008 | Crain’s New York Business | 3 CNYB 09-08-08 A 4 9/5/2008 8:17 PM Page 1

NY Sun’s prospects for money IN THE MARKETS to save paper cloudy at best edited by Robert Hordt

Backers hard to find er than the $1 million a month the Henry Scott, managing director of Sun is reported to be losing now. consulting firm Gansevoort Media. in bad climate; But Mr. Murdoch has also The seven-year-old Sun comes One Wall Street firm worth a look a small audience gained political power and influence out five days a week, making it far from owning the Post, a newspaper more expensive to run than a week- hares in Lazard Ltd. sank 11% far larger than the Sun, with a circu- ly like The New York Observer,which last week on news that some BY MATTHEW FLAMM lation of more than 700,000. The last year found a savior in real estate executives were selling stock Sun has a daily circulation of just scion Jared Kushner.The Observer is S they inherited from the firm’s initial the new york sun will not set 85,000 copies, and only 12,000 of said to lose $2 million dollars a year. quietly. those copies are paid, according to a The Sun, which has 110 employ- public offering three years ago.That Executives from the money-los- spokesman. ees, has looked into other business provides a perfect entry point for ing broadsheet continued to search Though the Sun has broken im- models, including turning itself into investors to jump in and grab one of for new investors last week after an- portant stories and is often cited for a weekly. None seemed viable, ac- Wall Street’s last remaining healthy nouncing in a front-page letter on the quality of its writing and report- cording to executives at the paper. Thursday that the Sun would cease It is not the only local newspaper institutions on the cheap. publishing without additional fi- in trouble. The free daily Lazard, which focuses on BUYING OP nancing. The Sun is tabloid Metro has been on managing money and advising The paper’s backers, including the block for months, and Roger Hertog,Tom Tisch, Michael reported to Per Mikael Jensen, chief ex- corporations on mergers and Steinhardt and Bruce Kovner, have ecutive of parent company acquisitions, has deftly sidestepped given the Sun until the end of Sep- be losing Metro International,has said the subprime mess that has so tember to bring in new investors to he was looking at “all options” damaged many of its competitors. share the costs. $1 million for the paper. Despite the efforts of the paper’s Ironically for the conser- There are no massive write-downs founders, Editor Seth Lipsky and a month vative-leaning Sun, the need of collateralized debt obligations or Managing Editor Ira Stoll, industry for new investment comes at a toxic mortgages looming at Lazard. insiders questioned the chances of time when losses have been re- finding investors willing to help duced and advertising is grow- True, the slowdown in M&A is that he can fashion a turnaround fund a newspaper in a difficult cli- ing.The Sun is expected to have to- hurting Lazard for now. Global on the scale of his performance at mate for print media. ing, its influence couldn’t have tal revenue of around $6 million this deal volume is off 27% so far this Target, where he designed stylish “As a business operation, it was measured up to its costs to its in- year, according to another source. year, and Lazard’s earnings are ex- clothes for the masses. never an encouraging proposition,” vestors. Executives at the paper were also pected to slump accordingly to says newspaper analyst John Mor- cheered by the extensive reader re- $1.93 per share, compared with ton. “They’ve got to find their Ru- ‘A very good paper’ action to Thursday’s front page let- $2.79 per share last year, according Pru looks better pert Murdoch.” “it’s a very good newspaper,but I ter by Mr. Lipsky. They remain to Reuters Estimates.But earnings than its peers The News Corp. chairman is fa- think they’ve got to be asking, what’s hopeful they will find new backers. are forecast to rebound nicely next mous for covering losses at the New the point, if they continue to lose year, to $2.92 a share, which would like almost every other compa- York Post that are said to be far larg- money and don’t gain influence,”says [email protected] exceed 2007’s robust levels. ny in the financial sector, Pruden- Chief Executive Bruce Wasser- tial Financial has taken its lumps stein (top right) has been bulking this year.The stock of the country’s up on bankers who specialize in second-largest life insurance com- smaller “middle-market” deals, an pany is down 15% year-to-date, Equal Opportunity Lender area that remains busy while com- but lately it has been showing signs panies take an extended break from of life. After bottoming out at striking big mergers. around $56 a share in July, it has —aaron elstein been trending up and is now trad- At Atlantic Bank... ing in the mid-$70s range. Yes, Prudential lost money in Experience comes with Fashion buzz the second a price. Zero. Zip. Zilch. lifts Liz Claiborne quarter, but analysts It takes sincere dedication to your craft to gain real experience. At Atlantic liz claiborne’s decision to hire don’t see its Isaac Mizrahi as its creative director future expo- Bank, our team of professionals is passionate about what they do. Over earlier this year looks like it is pay- sure as be- time, that passion has paid off in experience. And now, you benefit from ing dividends, even though his de- ing in the that experience...at zero cost. For all your business banking needs, visit but collection won’t hit stores until same league a branch today. Our combination of service, convenience, and a February. The stock is down 16% as that of complete line of financial products can help ensure the ultimate success this year, but shares companies of your business. rose to a nearly three- like AIG. In fact, the Newark- month high last based company may be taking ad- • Avoid Checking Account Fees • Financing Options†† week after sketches vantage of its competitors,pushing • EARN Premium Money Market Rates • Telephone Banking of the designer’s col- hard into the global insurance • Free Internet Banking* • Plus, much more! lection were leaked market while they’re nursing their • No Application Fees to the fashion press wounds. and received rave reviews. The firm is also extending its For additional information call: 1.800.535.2269 • www.abny.com Liz Claiborne is consolidating lead in private-placement invest- its business around a handful of ing. Because the credit crisis has brands, including its namesake la- narrowed choices for borrowers, *For your online security, information provided will be verified by the Bank. Once the verification process is bel. That’s where Mr. Mizrahi Prudential can command higher complete, your Free Online Banking and Bill Payment Account will be activated and ready for your use. No comes in. The company is betting rates of interest on its loans. monthly service charges apply. A separate fee applies for optional services such as Money HQ®. Please talk to a branch representative or ask for our fee schedule for more details. ††Subject to credit approval. ENERGY STOCKS RUN OUT OF GAS

Energy stocks took it on the chin last week on -15% -7% -10% the one-two punch of Your partner for success falling oil prices and a slowing economy. Oil Nineteen convenient locations • Brooklyn • Manhattan • Queens • Westchester companies, shippers and utilities got hit hard. Hess Corp. Overseas Public Service Shipholding Group Enterprise Group

4 | Crain’s New York Business | September 8, 2008 Project16 2/25/081:24PMPage1

© 2008 United Parcel Service of America, Inc. UPS, the UPS Brandmark and the color brown are trademarks of United Parcel Service of America, Inc. All rights reserved. Avery, Marks-A-Lot, the Crown Cap Design, and all other Avery brands are trademarks of, and used here under license from, Avery Dennison Corporation. CNYB 09-08-08 A 6 9/5/2008 7:27 PM Page 1

We are pleased to announce the NEW YORK,NEW YORK following transactions:

Buchanan Capital edited by Valerie Block Promenade Real Estate Corporation Stephen Pressler

The Kefﬁ Group PBS Real Estate, LLC Stephen Gordon Robert Emden

Execustay Radio DJ turns TV star CBRE Michael Liss he angie martinez show took a big step closer Georgetown University to becoming a reality.“New York, New Colliers ABR, Inc. Wendy Miller TYork” wrote in June that the Hot 97 disc jockey (right) was shopping a show. Well, BET just ICICI Bank Grubb & Ellis agreed to run six episodes this fall to test its Joseph Hilton popularity.The first installment, featuring Jay-Z, FlightAware Brentler, Inc. tapes on Wednesday at EUE/Screen Gems studios Paul Bostick in midtown. Computer Design & Integration Flavor Unit, a company owned by Queen Latifah Coldwell Banker Commercial Nicholas Poshkus and her partner Shakim Compere, will produce the

Field Street Capital show with United Entertainment Group. Muray Hill Properties Roxanna Girand “With the great guests’ lineup and Angie’s talent, we’ll definitely be picked up,” says Mr. Caris & Company GVA Williams Compere. “I feel very good about it.” Other guests Jared Freede Leon Manoff could include Mariah Carey and Mary J. Blige. Ms. Martinez is following in the footsteps of WBLS shock jock Wendy Williams, whose For leasing information contact: television talk show was recently picked up for national syndication. But Ms. Martinez Harry F. Blair boasts her own TV track record, including a stint as a judge on American Idol 2. 212.716.3741 [email protected] (www.nyfa.org/jobs) Mumbai”). Sean Kearns Ring tones 212.716.3715 says 5,273 listings FOOD FEST If that fails to [email protected] made at home have been posted so inspire, writers can far in 2008, EDIBLE MANHATTAN, a post cries for help downloading ring tones is so compared with glossy bimonthly, launches like this one from last week. On Monday, the Apple 4,218 for all of 2007. Sept. 8, joining Edible Brook- RiSkyBiz13: “I’ve iTunes App Store will start selling A total of more than lyn and 50 other editions. had writer’s block ToneMaker, an application that 17,000 jobs have The first issue will feature [for a year]. I’ve allows users to create their own been advertised on stories on Isaac Mizrahi’s even gone as far as personal jingle. the site since it kitchen and the city’s best to try to use alcohol Developed launched in 2003. cookbook store, as well as to break it. Hell, it by Man- The quality of blogger Ed Levine on break- worked for hattan- listings has also fast sandwiches and chef Hemingway and based Son- improved, with Dan Barber on the birth of Stephen King; why ic Boom, openings at Blue Hill’s cheese plate. not me?” ToneMaker al- such Melissa Jones,a Long established lows users to institutions as writer and commitment record voices and the Metropolitan Brooklyn native sounds that can be mixed Museum of Art, who recently with original tracks to make ring Blue Man completed the Weiser LLP tones. The application—already Productions and the M.F.A. program at Certified Public Accountants sold on most cell phones—will New York City Columbia cost about $9 at the App Store. Ballet appearing University, tries to “There are a lot of applications recently. answer them all. in the App Store that let you cre- Job seeker Jan The WEbook ate music, but none that let you Marie Descartes, who employee came up to the create your own ring tone,” says in July landed a with the concept New York City New York David Danon 135 West 50th Street , founder of Sonic painter’s assistant for 911 Writers New York, NY 10020 business community Boom. He says the five-year-old position at Takashi Murakami’s Block, which she insists isn’t Tel 212.812.7000 firm expects to make $12 million studio, Kaikai Kiki, finds this site cheating. “It’s a way to get out of Fax 212.375.6888 For nearly a century,Weiser has provided in revenues this year through sales more professional than the bulletin your own head for a minute,” she Long Island accounting, tax, and consulting services, such of software like ToneMaker, boards at the local theater or arts says. Since it launched in late 3000 Marcus Avenue as state and local tax planning, internal audit which already boasts more than supply store. “It’s kind of like a May, the site has attracted Lake Success, NY 11042 outsourcing, and business restructuring, 150,000 subscribers. “It’s pretty Craigslist for the arts, but more 119,200 unique visitors. Tel 516.488.1200 to private clients and business enterprises, powerful,” Mr. Danon says. trustworthy,” Ms. Descartes says. Fax 516.488.1238 including closely-held and emerging entities, Next, Sonic Boom plans to Contributors: Amanda Fung, Westchester in a variety of industries including: launch its Name That Movie and Samantha Marshall 660 White Plains Road Name That Music video games Tips to break Suite 430 • Real estate on the iPhone. Tarrytown, NY 10591 • Manufacturing and distribution writer’s block Tel 914.333.0555 • Auto dealerships Fax 914.333.0556 • Media and communication writers staring at blank pages The art and desperate to type their first New Jersey • Banking 399 Thornall Street • Food and dairy of listing jobs lines need despair no more. 911 Edison, NJ 08837 • Health care Writers Block, a Web help line Tel 732.549.2800 • Financial services unemployed ballerinas and from WEbook.com, offers tips on Fax 732.549.2898 • Professional services oboists, rejoice. A Web site that’s everything from scene setters (“A www.weiserLLP.com • Not-for-Profit fast becoming the Monster.com quiet suburban cul-de-sac. A for arts job seekers is helping child’s bicycle lies on its side, one For more information, contact Douglas Phillips at 212.375.6701. thousands find paying gigs. wheel slowly turning”) to how to The New York Foundation for kill a character (“Deep-vein the Arts’ jobs Web site thrombosis on a 22-hour flight to BLOCKBUSTER: Site assists writers.

6 | Crain’s New York Business | September 8, 2008 CN012305 8/15/08 4:10 PM Page 1

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Gas surcharges stay in place

Continued from Page 1 state had fallen to $4.36 from $4.91, LightSpeed Express Delivery Sys- so if prices don’t re-escalate. according to state estimates. tems in Manhattan has pulled back “I don’t think it has eased far Gary Weiss, executive vice pres- on the 16% surcharge on each order enough or long enough,” says Mr. ident of global operations for trans- that it imposed in July. Kremin,who estimates he has raised portation planning firm Choice Lo- “We’ve lowered it twice, the lat- prices about 10% in the past year. gistics, says that some companies est time being a week ago,” says “After only two or three weeks,there have used fuel hikes as a way to pad Chief Executive Robert Wyatt. isn’t enough of a benefit yet.” profit margins. They have been Now 12%, the surcharge applies only to one parcel in an order. Economically justified “If fuel continues to come down, mr. kremin is one of many owners ‘After only 2 or 3 we’ll continue to lower our sur- who tried to make up for the spike charge,” Mr. Wyatt vows. by increasing prices or adding fuel weeks of lower surcharges. Even though fuel costs Fees are in have dropped, most businesses are costs, there isn’t valera global inc., an executive taking a cautious approach to paring limousine company, enforced a 5% their prices. Whether they want to enough of a surcharge in June. CEO Robert make up for fuel-related losses or Mackasek aims to cut it to 3% by fear a return to higher costs, many benefit yet’ October if current fuel prices hold are reluctant to do away with add- and to print a list of surcharges based GAS COMPLAINTS: Taxi cab drivers’ calls ons they imposed just a few months on a range of gas prices. Mr. Mack- for a surcharge back or weeks ago. asek would prefer to build fuel costs in July were rejected. James Parrott,chief economist at into his base fare but can do that

the Fiscal Policy Institute, says adding hefty surcharges—some be- only if they stabilize. getty images maintaining surcharges could be tween 15% and 30%—since Hurri- “I don’t think people like sur- economically justified because fuel cane Katrina, and their customers charges,” he says. “But I don’t want over the spring and summer. could even consider undoing the prices are still significantly higher have become used to paying them, to have to redo my rate structure Ned Raynolds, a spokesman for cost-saving measures we’ve put in than they were a year ago. he adds. constantly either.” American Airlines, says customers place,” Mr. Raynolds says.“The bag At the end of August, gas cost “It’s almost turned into a revenue Such add-ons will probably be should expect to pay the fees for the fee is still in.” $3.82 a gallon in New York City ver- opportunity,” Mr. Weiss says. the norm in the airline industry for near future. sus $4.31 in mid-July, and the price At least one New York company a while. For example, most carriers “Oil prices would have to come COMMENTS? [email protected] of a gallon of diesel in New York has begun sharing its fuel savings. instituted luggage handling fees down a whole lot more before we Elisabeth Cordova contributed to this story.

CONTACT INFORMATION Crunch hits Spanish newcomer THE CRAIN’S BEAT SHEET

Continued from Page 1 between 10% and 15% EDITORS Covers media and entertainment. “When a purchaser defaults on a OVERVALUED: The since the contract was GREG DAVID MIRIAM KREININ SOUCCAR deposit, their credibility is all but firm still hopes signed last year, say to close on the EDITOR SENIOR REPORTER wiped out,” says Eric Anton, execu- Mercantile Renta is most likely e-mail: [email protected] e-mail: [email protected] tive managing director at Eastern Library. seeking financing based In charge of all editorial operations Covers the business of arts and Consolidated, a real estate invest- on terms that overvalue for the paper and related products. culture. ment services firm. the asset. ROBERT HORDT BARBARA BENSON Mr. Rabassa says that some of The company has MANAGING EDITOR REPORTER the lost deposits reflect Renta’s already extended the e-mail: [email protected] e-mail: [email protected] growing pains in a market that’s closing twice, and Oversees daily news operations, with Works on Health Pulse newsletter. emphasis on crainsnewyork.com. more complicated and sophisticated sources say it is now set AMANDA FUNG than others where the firm operates. for October. Mr. Ra- VALERIE BLOCK REPORTER He insists,however,that it will be in bassa says the property DEPUTY MANAGING EDITOR e-mail: [email protected] New York “for centuries.” could become a bou- e-mail: [email protected] Covers technology and telecom. Edits “New York, New York” tique hotel or office column and other stories. DANIEL MASSEY Not alone building and eventually REPORTER “we are not the only ones seeking fetch a high price, but ERIK IPSEN e-mail: [email protected] extensions,”Mr.Rabassa says.“Very he will sell the contract DEPUTY MANAGING EDITOR Covers the New York economy, e-mail: [email protected] including labor and immigration. big local players are leaving behind if he can find a buyer. Edits small business columns deposits. The situation is not just He is also seeking fi- and special reports. ADRIANNE PASQUARELLI tough for Renta.” nancing or a purchaser REPORTER ELIZABETH MACBRIDE e-mail: [email protected] Harry Macklowe, who couldn’t for 396 Broadway, an CONTRIBUTING EDITOR—REPORTS Covers apparel and retail. find the money to salvage his $7 office building that e-mail: [email protected] billion deal for seven office build- Renta wanted to con- Edits special reports and Crain’s Health HILARY POTKEWITZ ings, had to return them to lenders vert into a hotel. Pulse. REPORTER e-mail: [email protected] and sell his beloved General Mo- REPORTERS Covers legal issues, transportation and tors building. Other established Still hoping sports. players are also finding it hard.Ear- additionally, the THERESA AGOVINO buck ennis SENIOR REPORTER GALE SCOTT lier this year, Time Equities lost a company is trying to sell REPORTER $4 million deposit on an Upper into a tailspin.The company attrib- the one property it has closed on: e-mail: [email protected] Covers commercial real estate. e-mail: [email protected] West Side apartment building uted a net loss of 25.7 million euros 12-14 Warren St.,an office building Covers hospitals and insurers, and when affordable funding didn’t in the first half of 2008 to slow sales that Mr. Rabassa had intended to AARON ELSTEIN works on Health Pulse newsletter. SENIOR REPORTER materialize. and extraordinary items,including a develop into a condo complex. MATTHEW SOLLARS Still, Renta’s situation is ironic, restructuring charge. Renta’s stock Sources say Renta lost a deposit e-mail: [email protected] Covers Wall Street. REPORTER given how many other foreign buy- is down 82% from its 52-week high. of about $500,000 on 276 Fifth e-mail: [email protected] ers have been taking advantage of Mr. Rabassa is confident that a Ave.,as well as $5 million to $8 mil- ERIK ENGQUIST Covers politics and government, and the weak dollar to scoop up Man- 500 million-euro loan procured last lion on 38 E.32nd St.It also walked SENIOR REPORTER works on Crain’s Insider newsletter. Contributes to “Neighborhood away from money it put down on the e-mail: [email protected] hattan properties. But the firm’s cir- year will help the firm close deals, Covers politics and government, and Journal” column. cumstances illustrate that some- but “we need to sell some properties Forbes Building, at 60 Fifth Ave. works on Crain’s Insider newsletter. times a purchaser’s local woes can before we can buy,” he says. Mr.Rabassa wouldn’t discuss any WEB STAFF LISA FICKENSCHER overshadow the benefits of a strong The firm hopes to close on 17 E. financial terms. SENIOR REPORTER KIRA BINDRIM currency. 47th St., the eight-story home of “Every day, I’m on the phone, e-mail: [email protected] WEB PRODUCER In Spain, Renta’s largest market, the Mercantile Library,which it had trying to learn, trying to connect to Covers tourism, restaurants, hotels. e-mail: [email protected]. real estate prices started to tank in agreed to purchase for between $16 local players,”he says.“We are com- MATTHEW FLAMM ELISABETH BUTLER CORDOVA 2007 after years of overbuilding. million and $20 million in a deal mitted to staying here. We think the SENIOR REPORTER WEB PRODUCER Buyers have become scarce for that was slated to close this summer, city will be better in the future.” e-mail: [email protected] e-mail: [email protected] properties Renta is trying to unload, according to sources. But experts, sending its results and share price pointing out that prices have fallen [email protected]

8 | Crain’s New York Business | September 8, 2008 CNYB 09-08-08 A 9 9/5/2008 3:12 PM Page 1

Nasdaq chief parlays tech edge into gains against rival

Continued from Page 1 employer, reaching executive vice lenges. For starters, just as it has tomers that dismissed the claim as a TALE OF THE TAPE president before leaving to become stolen some business from NYSE, “dramatic escapade”that blurred the head of Nasdaq in 2003. so Nasdaq has lost trades of its own lines between fantasy and reality like Stock performance over past 12 months NYSE, -45%; Nasdaq, -4% “He knows how markets work listed securities to other exchanges. Shakespeare’s A Midsummer Night’s Number of listings NYSE, 5,600; Nasdaq, 3,900 down to the micro-details,” says his And the tech edge that it enjoys Dream. The cri de coeur was just former boss, Sungard CEO Cristo- over the NYSE will probably not what Mr. Greifeld wanted. Market value of listings NYSE, $17 trillion; Nasdaq, $5 trillion bal Conde. “That makes him tough last longer than a year or two while “Best money we ever spent,” he Source: World Federation of Exchanges to work for among employees who its main rival digests the Euronext says. aren’t in command of their facts.” merger. Five years after the mailman’s What’s more, even after the son from Queens took command at The rise of Mr. Greifeld, a 51- of Bob Dylan and proclaimed his re- Technology improvements steep decline in NYSE’s share the nation’s second-largest stock year-old former computer salesman bellious streak to his disco-dancing when mr.greifeldjoined Nasdaq, price, investors still value it at $10 market, Nasdaq is at last making in- and software developer,reflects how peers by wearing a T-shirt that read it was bleeding red ink from the billion—$4 billion more than Nas- roads against the NYSE.In addition a handful of tech geeks have trans- “Third Generation Beat.” In 1979, tech-stock collapse and a number of daq. to seizing more trades from its rival, formed exchanges. They are no he went to work as a salesman at ill-conceived overseas ventures. He Meanwhile, the NYSE is step- Nasdaq is persuading some compa- longer trader-owned clubs but pub- Burroughs Corp.,partly because the cut expenses and even mulled ping up its battle on the public rela- nies—such as the Chicago Mercan- licly traded companies whose so- computer-maker was founded by pulling the exchange’s high-profile tions front and has contended that tile Exchange, DirecTV, and soft- phisticated computer networks are the grandfather of William Bur- marketing site on Times Square, Mr. Greifeld’s claims of Nasdaq’s ware giant CA—to switch their helping to create markets.The insti- roughs, author of the classic coun- which costs $20 million a year. He superiority are nothing more than a listings to Nasdaq. tutions are constantly vying to be the terculture novel Naked Lunch. ultimately decided to keep it be- salesman’s hyperbole. The NYSE He is expanding in Europe with speediest and cheapest places to The beatnik wannabe quickly cause companies like coming there did not return a phone call for com- this year’s acquisition of Swedish ex- trade everything. grasped how computers could re- to celebrate on the day of their ini- ment. change operator OMX Group and place brokers on Wall Street. In tial public offering. Mr. Greifeld says that these at- is entering new product lines do- Rebellious streak 1991, he joined Automated Securi- He then turned to Nasdaq’s sec- tacks miss a broader point: After mestically with acquisitions of ex- “the whole industry has moved ties Clearance, where he built an ond-rate technology,which was los- nearly 40 years of fierce competi- changes in Philadelphia and to being about technology, and Bob electronic trading system from the ing trading business to the type of tion, Nasdaq is setting the direction Boston. understands this intuitively,” says ground up. computer networks that Mr. for the industry. The NYSE’s em- Investors have noticed, with Glenn Hutchins, a Nasdaq director He suffered setbacks, such as Greifeld pioneered. brace of computer-driven trading Nasdaq’s stock down just 4% since and co-CEO of private equity firm when the NYSE rejected a wireless He bought Instinet in 2005 for shows that. the credit crisis began a year ago, Silver Lake. handheld device he developed for its $1.7 billion and routed Nasdaq’s “Look at CNBC broadcasting compared with more than a 45% Mr. Greifeld was an early, if un- floor traders. But Mr. Greifeld had trades onto its best-in-class systems. from the NYSE floor. There’s no drop for NYSE Euronext Inc. likely, technology adapter. After identified a powerful trend in trad- Analysts say Nasdaq’s technology one there.” Mr. Greifeld says. “Get- “Nasdaq is on a roll,” says Larry graduating from Sachem High ing and was ASC’s president when gives it an advantage over the ting to that picture has been our Tabb, CEO of consulting firm Tabb School in Lake Ronkonkoma, L.I., Sungard Data Systems bought the NYSE, which is integrating several job.” Group. “Greifeld’s strategy is play- he went to Iona College, where he company in 1999 for $270 million. different trading platforms. ing out.” majored in English, listened to a lot He rose through the ranks at his new But Mr. Greifeld faces big chal- COMMENTS? [email protected]

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September 8, 2008 | Crain’s New York Business | 9 CNYB 09-08-08 A 10 9/5/2008 3:05 PM Page 1

atmosphere in the office, he had the 45,000-square-foot space gutted Dentsu’s NY office uses parent’s power and transformed into a loftlike glass-front office overlooking Man- Continued from Page 2 company’s overall revenues of about discrimination, charging that the are increasingly seeking global ex- hattan. He even added an 800-gal- global account and making smart ac- $2.2 billion,but Mr.Andree expects CEO forced the plaintiff to visit a pertise, the company recognizes lon tank filled with koi fish. quisitions. Most of the unit’s clients, his unit to account for about 30% of brothel and a Japanese bathhouse that it has to beef up business out- In addition, Mr. Andree led including Toyota and Canon,are ac- revenues by 2012. during business trips. side of Japan in order to flourish. Dentsu America’s acquisition of San counts inherited from Japan. Though the allegations refer to While Dentsu America’s growth Francisco-based branding agency “As our client roster diversifies,” Sexual harassment lawsuit events that took place before Mr. has exploded this past year, the Attik for an undisclosed sum. The says Mr. Andree, “the industry will it hasn’t been smooth sailing so Andree’s arrival, the U.S. chief, who Japanese company’s revenues fell deal expanded Dentsu America’s stop thinking of us as a Japanese far. A salacious lawsuit overshad- terminated the plaintiff, was named 0.6% last year from 2006 levels, 16-year relationship with Toyota agency and more as a global agency.” owed the agency’s tremendous in the suit. The lawsuit was settled dropping to $2.17 billion,according and gave Dentsu a second Califor- Revenues from the U.S. opera- growth. Late last year, a former on undisclosed terms. Mr. Andree to Advertising Age. nia outpost. Mr. Andree says he is tions are on track this year to surpass Dentsu creative director sued Dent- declines comment on the matter. Dentsu jump-started its global considering other such acquisitions. $44 million, more than double last su Holdings USA,the holding com- Now that the lawsuit is behind expansion efforts by appointing Mr. year’s level. The 2007 figure repre- pany’s chief executive and Dentsu Dentsu, the 40-year-old agency is Andree, a veteran of global compa- Recruiting from other agencies sents less than 10% of the Japanese America for sexual harassment and looking to the future. Since clients nies. Mr. Andree was drafted by the meanwhile, he has recruited cre- Chicago Bulls in 1983, but decided ative talent from agencies such as to go into marketing when he real- Ogilvy & Mather and Digitas in ized that he’d never be an NBA star. New York. Half of Dentsu Ameri- Crain’s names new editor He spent 20 years in senior-level ca’s staff turned over in the past two marketing roles at multinational years, according to Mr. Andree. corporations—including top Dent- The reshuffling has paid off so Continued from Page 3 all of Fortune’s editorial operations tions and public media. She also su clients Toyota and Canon—be- far. Dentsu America has signed up “Crain Communications is com- as executive editor. holds a postgraduate diploma in fore coming to the agency. new clients such as Chandon, a mitted to journalistic quality and in- journalism from City University in “Dentsu has become more so- maker of sparkling wine;Red Vines, tegrity.Xana will become an impor- Editor of the New York Post London. phisticated,” says Steven Sturm, a a licorice company; and ExpressJet, tant part of this company,’’ says prior to that, Ms. Antunes Mr. David will continue to over- group vice president at Toyota Mo- a private charter airline. But these Rance Crain, editor in chief of served two years as a consultant to see the editorial and op-ed pages and tor North America. “Tim’s back- wins are considered small. In order Crain’s New York Business and presi- various magazines and newspapers will continue his twice-a-month ground helps the agency understand to stand out among U.S. agencies, dent, Crain Communications Inc. in New York and overseas. From column on the economy,politics and where we come from.” Dentsu America has to secure a Under the CNNMoney umbrel- 1999 to 2001, she was editor of the journalism. He will remain the host Under Mr. Andree’s leadership, blue-chip advertiser on its own, not la, Ms. Antunes was responsible for New York Post. She rose up through of the Crain’s Breakfast Forums. He Dentsu America has decreased op- through acquisition or inheritance. developing online versions of the the ranks of the paper, having been is also an adjunct professor at the erating costs by 70%, primarily by “We don’t have a mega account Time Inc. Fortune|Money maga- named deputy editor in 1998, busi- CUNY Graduate School of Journal- moving from midtown Manhattan equal in size to Toyota and Canon zines, including Fortune, Money, ness editor in 1996 and deputy busi- ism and will teach a course at Milano to the landmark AT&T Building at yet,” says Mr. Andree. “But now we Business 2.0 and Fortune Small Busi- ness editor in 1995. The New School for Management 32 Sixth Ave., where rents are in the are getting considered.” ness. From 2003, when she joined She is a graduate of Leeds Uni- and Urban Policy in the spring on low $30s per square foot. To foster Fortune, to 2005, she helped oversee versity with a B.A. in communica- the city’s economy and business. creativity and maintain the Japanese COMMENTS? [email protected]

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10 | Crain’s New York Business | September 8, 2008 CNYB 09-08-08 A 11 9/4/2008 7:53 PM Page 1

NEIGHBORHOOD JOURNAL

sponsibilities include recruiting pur- veyors, says three of the seven slots Foreclosure fallout hits businesses are still open. She hopes to fill them with vendors selling dairy, meat, honey and flowers. heart of Brooklyn’s Bedford- den, with fruit operate every Markets outside of Brooklyn’s Unable to tap home Stuyvesant. from an or- Friday after- affluent neighborhoods often strug- equity, Jamaica The Rev. Robert Jackson, who chard out of noon through gle to attract business. But Rev. runs Brooklyn Rescue Mission, the town. Other November, is Jackson believes that the Utica Av- owners turn to main sponsor of the market, says it vendors in- in Jackie Ro- enue subway station—just steps forgotten program will fill a yawning gap in the neigh- clude a baker, binson Park. away—will help this one blossom. borhood. a fresh fish Response He vows to keep selling the mis- he high rate of fore- “We have bodegas, but we have vendor and a BRINGING VEGGIES is part of the mission. has been strong, sion’s vegetables there. closures in Jamaica and limited supermarkets,” Mr. Jackson popular or- according to “Providing healthy food to the its surrounding neigh- says. “We need more markets and ganic veg- Sonia Alexan- community is what we do,” he says. borhoods in southeast- more vegetable stands.” etable farmer from New Jersey.The der, an AmeriCorps volunteer “This is our niche as a community ern Queens is taking its Some of the greens now on offer Malcolm X Boulevard market, brought in to run the venture for the organization.” Ttoll on small business owners, many come from the mission’s urban gar- which opened in mid-July and will first year. Ms. Alexander, whose re- —matthew sollars of whom use home equity loans for funding. With property values in the area slipping and banks dialing back on home equity lines of credit, that avenue has been largely shut off. “Whenever there’s one foreclosure, at least two or three more homes are affected by it,” says Who Just Carlisle Towery, president of the Greater Jamaica Development Corp. “A vacant house being auc- Moved 6 Miles tioned is not good for the neighbors, or for the neighbors’ businesses.” That linkage is being felt at the And Saved Greater Jamaica Development Corp., where inquiries about the semi-dormant Capital Access loan program have soared, according to Director of Business Services $100 Million? Richard Werber. Set up in the 1980s, the $2 million fund occupied a corner of Mr. Werber’s office. In recent years, Capital Access made just two or three loans annually, ranging from $10,000 to $300,000, to local firms trying to get established in the district. With interest rates pegged at prime, the program’s loans are now much cheaper than the common alternative—credit cards or short- term lenders imposing charges that often exceed 25%. Capital Access has been swamped this year, receiving more than 50 loan applications—more than it logged in the previous four years combined. “What we’re seeing is the combi- TENANT “X” nation of tight credit markets from Some Businesses Make a Fortune in NY traditional lenders at the same time Manhattan Meadowlands these people’s [home] equity is be- Others Waste One Rent per sq. ft $90 $27 ing reduced,” Mr. Werber says. He Usable sq. ft. 52,000 52,000 has approved four loans so far this year and has two more pending. Our new tenant, an internationally renowned ﬁ rm, wants us Term of Lease 15 15 The average recipient has five to Rentable Sq. Ft 69,160 61,100 to keep it a secret that they’ve moved from Manhattan to the 10 staffers and falls just short of Total Rent $115,767,080 $30,281,160 qualifying for traditional loans.One Meadowlands. But you’d be smiling, too, if you saved $100 such business, Toscano Clements Occupancy Tax $4,514,916 $0 Taylor Cost Consultants, just got million, reduced commuting costs for your employees and Total Electricity $3,537,327 $2,045,509 $300,000 from Capital Access. Workletter $2,766,400 $0 After years with a construction- increased their productivity. cost estimator, Kimberlee Toscano Total Parking $514,520 $0 went out on her own in 2007. She Visit www.HartzMountain.com to calculate your savings. Total Commercial $2,489,009 $714,654 had two solid clients and 10 em- RE Tax Escalation ployees but couldn’t qualify for a Common Area $4,978,018 $1,704,176 PS -- we won’t tell anyone if you don’t want us to. Maintenance loan—especially in Queens,the epi- Escalation center of the credit crisis. Ms. Cost $134,567,270 $34,745,499 Toscano preferred to locate her business in the area because many of her workers live nearby. NJ Savings $99,821,771 —hilary potkewitz CONTACT HARTZ MOUNTAIN INDUSTRIES, INC. Bed-Stuy gets Hartz Mountain Industries, Inc. Leasing Dept. Ernie Christoph Tel: 201-272-5201 400 Plaza Drive Secaucus, New Jersey 07096-1515 [email protected] much-needed greens 0HONEs&AX Charlie Reese Tel: 201-272-5202 www.hartzmountain.com [email protected] a fledgling farmers’ market is hoping to flourish where several earlier attempts have failed—in the

September 8, 2008 | Crain’s New York Business | 11 CNYB 09-08-08 A 12 9/4/2008 7:49 PM Page 1

VIEWPOINT The GOP’s New York fantasy editor in chief Rance Crain publisher, vp Jill R. Kaplan

nly days before the Democrats met in Republican. Polls show Mr. Bush to be more unpopular here EDITORIAL Denver, a Siena College poll reported than virtually anywhere else. editor Greg David managing editor Robert Hordt that Sen. John McCain trailed Sen. Whatever doubts may exist about Mr. Obama, it’s hard to deputy managing editors Valerie Block, Barack Obama in New York by the see how he won’t at least equal the performances of Messrs. Erik Ipsen contributing editor surprisingly narrow margin of 8 Gore and Kerry. Elizabeth MacBride percentage points. Last week, following The election campaign here will play out this way: The columnist Alair Townsend senior reporters Theresa Agovino, their boisterous confab in St. Paul, local two candidates will be in town Sept. 11 for a Columbia Aaron Elstein, Erik Engquist, Lisa Fickenscher, Republicans convinced themselves they actually have a University seminar and will be back in October for a foreign Matthew Flamm, Miriam Kreinin Souccar reporters Barbara Benson, Amanda Fung, chance of winning the state. policy debate at Hofstra University on Long Island. Unless Daniel Massey, Adrianne Pasquarelli, O Hilary Potkewitz, Gale Scott, Matthew Sollars Don’t believe it, and don’t expect the top leadership of the they need to raise money from wealthy donors, don’t expect restaurant critic Bob Lape McCain camp to buy into this fantasy, either.They will to see them in between. New Yorkers will also find them- art director Steven Krupinski deputy art directors Carolyn McClain, consider New York a lost cause, the Democrats will take the selves reading about the Daniel Mednick state for granted, and New Yorkers will yet again be New York is political ads, since they staff photographer Buck Ennis copy desk chief Wendy Zuckerman bystanders in a presidential election.The only way that is will run only in the copy editors Michele Arboit, likely to change is if there is electoral reform. hardly alone states up for grabs. Thaddeus Rutkowski A history lesson is in order. In 2000, Democrat Al Gore research editor Denise Southwood in being New York is hardly www.crainsnewyork.com took on then-Texas Gov. George W. Bush. Mr. Gore was alone in being margin- web producers Kira Bindrim, saddled with enormous burdens.The Clinton scandals marginalized alized. Most states are Elisabeth Butler Cordova dogged the vice president, as did voter fatigue with the securely in one camp or EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 Democrats. Mr. Gore’s own leadership qualities were in the other, with the editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 doubt.The New York Republican Party was entrenched in election hinging on Cable craincom nyk the governor’s mansion, City Hall and the state Senate. results in select battle- Fax 212.210.0499 Entire contents ©copyright 2008 Crain And Al Gore swept the state with 57% of the vote. grounds, such as Michigan, Ohio and Florida.This will Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP Four years later, it was much the same story. George Bush continue as long as elections are decided by giving all of a Inc., used under license agreement.

had won many friends in the state by coming to New York state’s electoral votes (the combined representatives in the TO SUBSCRIBE: City’s aid after the Sept. 11 terrorist attacks. Many House and Senate) to candidates who win by even one vote. Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. Democrats were far from happy with their candidate, Many prefer to junk the system in favor of deciding the www.crainsnewyork.com Massachusetts Sen. John Kerry. Republicans held the same presidency by the popular vote, but such an overhaul seems ADVERTISING AND MARKETING prominent elected positions they had in 2000. politically difficult because it is so radical. It would be more advertising director Jeff Adler senior account managers And John Kerry carried New York with 57% of the vote. realistic to keep the College, and award electoral votes pro- Cornelius P. Gore, William E. Squitieri This time around, the Republican Party in the state is in portionately, based on the vote in each state. If that occurred, commercial real estate sales manager Cory Marks rapid decline.The state GOP is likely to lose most of its New Yorkers would have a role in electing a president. account executives remaining congressional seats, Democrats control the Irene Irvill, Courtney McCombs, Anthony Mowad western account manager governor’ office, and Michael Bloomberg is no longer a COMMENTS? [email protected] Ellen Mazen (Los Angeles) 323.370.2477 sales manager, classified print & online John Gallagher newsletter product manager Catherine Evans Gittens sales coordinator, print & online LETTERS TO THE EDITOR Lulé Haznedari sales coordinator Anita Perrino credit Todd J. Masura 313.446.6097 marketing director Amy Crossman marketing manager Jill H. Bottomley marketing coordinator Jenny Mashberg Volunteers give YWCA a boost circulation manager Andrea Richardson assistant circulation manager Rosalie Ford NONPROFIT WORKS committed to delivering high- midsize firms, like Pryor THROUGH HARD TIMES quality services to New York City Cashman, are flourishing in this general manager, interactive women and their families. Necessity changing economy. Our record Marc Minardo web developer, interactive we at the ywca of the City of is the mother of invention; we and revenues and profits since July Chris O’Donnell New York can relate fully to your our nonprofit peers must use our 2007 stand in stark contrast to the assessment of the troubles facing ingenuity, business acumen and many large firms that have laid off NEW YORK PRODUCTION production and pre-press director the nonprofit sector (“Hard times mission focus to develop new personnel in recent months. Michael Corsi at nonprofits,” Sept. 1). We can streams of income, partners and The midsize firm, recently advertising production manager also see the creative and can-do advocates to keep our programs considered a dinosaur in the New Marilyn DeMilta response of not-for-profits as they working for the millions of New York legal market, remains a viable istockphoto PUBLISHED BY CRAIN COMMUNICATIONS INC. face adversity and take action. Yorkers who need our services. alternative to clients driven from chairman Keith E. Crain Our YWCA has taken a hit rennie roberts larger firms whose rate structures president Rance Crain this year in fundraising. But while Chief executive and leveraged staffing make them secretary Merrilee Crain volunteers may not be able to write YWCA of the City of New York noncompetitive. the public will than that. treasurer Mary Kay Crain a check, their generous donation of ronald h. shechtman Second, term limits are in executive vp, operations William Morrow senior vp, group publisher Gloria Scoby time helps us control costs and MIDSIZE LAW FIRMS Managing partner practice the only effective group vp, technology, circulation, make new friends to support our A VIABLE ALTERNATIVE Pryor Cashman mechanism the public has for manufacturing Robert C. Adams mission. Corporate partners are breaking up the entrenched vice president/production & tightening their belts but the sept. 1 article “Lawyers lose WHY TERM LIMITS fiefdoms local politicians build manufacturing David Kamis maintaining relationships that will jobs; Wall Street the culprit” left around themselves. chief information officer Paul Dalpiaz SHOULD REMAIN corporate circulation director bring us increased support in the impression that the entire New Third, able public servants are Patrick Sheposh better times. And our dedicated York legal profession is suffering alair townsend is wrong on in short supply at higher levels, YWCA-NYC staffers take on because of Wall Street woes and the term limits (Crain’s, Sept. 1).Term and term limits are an added founder G.D. Crain Jr. (1885-1973) Mrs. G.D. Crain Jr. additional responsibilities. related decrease in financial deals. limits should remain because incentive for those at the city level chairman (1911-1996) While we work through the We know this is simply not voters have approved them twice; to seek higher office. uncertain times ahead, we remain true. We suspect that some you can’t get a clearer expression of scott powell

12 | Crain’s New York Business | September 8, 2008 CNYB 09-08-08 A 13 9/5/2008 12:30 PM Page 1

Companies large and small rely on Amper, and millions they have raised and run for you can too. re-election. Expect few changes on the council. Speaker Christine Quinn would stay put and—despite recent grum- bling—be able to suppress any in- surrection. Of the borough presidents, three would certainly remain in place— Marty Markowitz in Brooklyn, Adolfo Carrión in the Bronx and Scott Stringer in Manhattan. Public Advocate Betsy Got- baum probably would face a serious challenge and might retire rather than lose. The age issue might lead to a similar scenarios with borough presidents James Molinaro on Stat- en Island and Helen Marshall in Queens. As for the mayor himself,the un- precedented loyalty of his key advis- ers would fade. Virtually all would follow Daniel Doctoroff, the architect of so much the mayor has un- john h.john howard dertaken, out the door. Their jobs are too demanding on families, and not everyone can accept relatively low salaries forever. Mr. Bloomberg might not need Distasteful truths Kevin Sheekey’s political acumen, “Seeing Beyond the Numbers...” but he will miss Joel Klein, Ray www.amper-pc.com Kelly, Patti Harris and Amanda and consequences Burden as much as he misses Doc- toroff.The mayor is unlikely to be as close to their replacements or to usinesspeople in New York long for a third term trust them as implicitly. It is also unrealistic to expect Mr. for Michael Bloomberg. With the possible ex- Bloomberg to come up with a new ceptions of entrepreneurs in Willets Point, ciga- agenda for the city.Oh,there will be rette vendors and restaurateurs who don’t want an effort at slogans or window dress- to disclose the number of calories that their ing,but the mayor has spent the past two years trying to complete what Bmeals contain, businesspeople believe that Mr. Bloomberg he started in the first term. It would is good for the city. be more of the same after Jan. 1, 2010. Meet NYC Comptroller If the mayor asks the would be two: the clog- Some time ago, Mr. Bloomberg City Council to amend ging of the city’s politi- installed a clock in the bullpen at WILLIAM THOMPSON the term-limit law to let cal arteries and the City Hall counting down the days of officials have 12 years in thinning of the Bloom- his term, an effort to inspire the office, the council will berg administration. troops to complete the goals he had With the New York economy sliding and the outlook do so unless the courts Begin with this set for them.The mayor recently put for the city budget worsening by the day, come hear intervene. simple fact: Michael similar clocks in the city’s major comptroller William Thompson tackle the questions of Mr. Bloomberg will Bloomberg will not be agencies. what needs to be done. He’ll be questioned by Crain’s go on, without signifi- the only one getting a What will he do about those editor Greg David and another journalist on a wide cant opposition, to a third term.Comptroller clocks if he seeks another term? range of issues in expectation of his announcement that smashing victory. He William Thompson he is a candidate for mayor. won’t even have to GREG would almost certainly Greg David’s columns on politics, the spend $86 million this DAVID seek re-election and economy and journalism alternate on this DATE: TUESDAY, OCTOBER 21, 2008 time. would win. page with Alair Townsend’s commentaries TIME: 8:00-8:30A.M. NETWORKING BREAKFAST But journalists need In turn,Mr.Thomp- on city and state government, and Valerie 8:30-9:30 A.M. PROGRAM to consider unintended conse- son’s many potential successors on Block’s columns on the media. VENUE: HILTON NEW YORK quences, and in this case there the City Council would keep the COMMENTS? [email protected] 1335 Avenue of the Americas between 53rd and 54th Streets

COST TO ATTEND: CRAIN’S ONLINE POLL $70 for individual tickets if prepaid by October 14; $75 thereafter. $650 for tables of ten if prepaid by October 14; Should Bloomberg clarify his position on term limits? $750 thereafter. Yes. Elected officials 180 votes To register go to crainsnewyork.com, or fax your business Date of poll: Sept. 3 need to know if the law is going to be card and credit card information to “Thompson Breakfast” changed so they can .40% No. Any move at 212-210-0499 make plans about to change the running for law has to re-election. start in the City Council. Why Yes. Mayoral 40%. should the candidates in mayor take a particular need to stand now and know, because if .20% risk criticism? Mr. Bloomberg runs, they may decide not to.

For this week’s questions: Go to www.crainsnewyork.com/poll to have your say. bloomberg news

September 8, 2008 | Crain’s New York Business | 13 CNYB 09-08-08 A 14 9/5/2008 2:44 PM Page 1

in Manhattan is giving us great pause to question the sincerity of TERM LIMITS the supermarket initiative,” says Local 1500 official Pat Purcell.“It THE INSIDER ONE WOULD THINK the debate over term limits would be low-hanging fruit for seems to completely contradict the good-government groups. Well, think again. stated priorities”—reducing “The situation is ambiguous from a good-government point of view,” says by Erik Engquist and Matthew Sollars congestion and aiding Susan Lerner supermarkets. , executive director of Common Cause New York. A spokesman for the mayor The Citizens Budget Commission has no position on says, “Given the immense benefits whether the City Council should change the law, and Citizens Arena to miss of the project, we are confident Union, which has long opposed term limits, announced Friday UFCW will continue to support that no change should be made without voters’ consent. its start date it.” “Most of our members would love to keep Michael Bloomberg as mayor, but we will not take a orest city position on extending term limits until there is a Ratner still insists Plan to revitalize specific proposal on the table,” says Kathryn that it can break trash plant Wylde, president of the Partnership for New York F City, a business group. ground on its Brooklyn the u.s. army corps of Engineers Former Public Advocate Mark Green, basketball arena this year. will hold a public hearing Sept. 16 who lost to Mr. Bloomberg in 2001, says Reality says otherwise. It on Mayor Michael Bloomberg’s plan he should oppose a legislative extension will be at least 2009 to reopen the East 91st Street waste of term limits.

before state courts stomp zuma press station. Local elected officials “If he chooses to flip-flop and reverse seven oppose the proposal, which the years of denials, and enacts a law to benefit out two lawsuits challenging the project’s environmental administration describes as personally, he would ruin a good mayoral legacy,” impact statement and use of eminent domain. essential to achieving environ- Mr. Green says. “I hope he doesn’t cross a line that The EIS case will be argued Sept. 17; a decision is probably mental justice. Assemblymen he can’t cross back.” Jonathan Bing Micah Kellner months away.The eminent domain case won’t even be heard and are rallying opponents to flood the bloomberg news until January. Both decisions will be appealed to the state’s hearing. high court. York, saying, “Its anti-corruption ESDC will vote this winter on As the legal case has dragged on, the arena’s estimated cost strategies within government and condemning a warehouse and two Corruption units the police have been inspirational gas stations in the expansion’s has risen to $950 million, from $637 million when it was for many cities.” footprint. approved by the state in December 2006. Financing projects is compared “almost impossible” while litigation is pending, Forest City an anti-corruption primer Columbia hearings Housing credits Chief Executive Bruce Ratner has said. unveiled in the Netherlands last week finds that the city Department go the distance offset AMT of Investigation’s 300 employees Willets Point the union now questions whether outnumber the combined total at thirteen hours of hearings last a housing bill passed by union snag the Bloomberg administration will the public integrity units of week on Columbia University’s Congress this summer could boost push for supermarkets there. Amsterdam, Antwerp, Hamburg, proposed expansion weren’t enough the affordable-housing credit market, the united food and A Costco proposed for the West London and Sydney but are just a for state Sen. Bill Perkins, which has been battered by the Commercial Workers Local 1500 is Side infuriated the union, which quarter the size of Hong Kong’s D-Manhattan, who has scheduled mortgage crisis. reconsidering its support for the represents supermarket workers. commission. a Sept. 17 hearing on the school’s It allows more individuals to use city’s Willets Point project because “The mayor’s support of the Costco The text generally praises New use of eminent domain. credits to offset alternative There’s no word on whether the minimum tax liability.The change Empire State Development Corp. applies to credits for work that or Columbia will participate. Mr. started after Dec. 31, 2007. Perkins is a critic of the project, but Tax specialists say this opens up Times Square - The Ultimate the Legislature has no formal role. a new outlet for the credits. New York Location ELECTIONS Insurgents struggle A NUMBER OF LOCAL SEATS are being contested Tuesday, and though no incumbents are expected to lose, the political cognoscenti will be watching closely. Here’s a snapshot of some key races. Congress Rep. Ed Towns, D-Brooklyn, vs. Kevin Powell. If nothing else, this race has reinforced the perception that Towns is vulnerable. A credible showing by Mr. Powell—say, 40% of the vote—would virtually ensure that someone will come after Towns in 2010. But the septuagenarian might then step aside for his son Darryl, an assemblyman. Councilman Mike McMahon, D-Staten Island, vs. Steve Harrison. For months, Mr. Harrison has tried to sell the notion that Mr. McMahon is weak. Voters will lay his argument bare, and Mr. McMahon will compete in November for the seat being vacated by Republican Vito Fossella. Bob Straniere vs. Jamshad “Jim” Wyne. This Republican battle to succeed Mr. Fossella will prove that an Italian-American surname and voter familiarity—Mr. Straniere is a former Staten Island assemblyman—carries far • Entire 5th floor 13,800 sf more weight than loyalty to the borough. He moved to Manhattan years ago • Available December 2008 and only recently returned to the island. • Work letter available to qualified tenants State Senate • 100% commission paid on signing State Sen. Martin Connor vs. Daniel Squadron. Critics say Mr. Connor, in • Across from the new New York Times Building office since 1978, lacks energy. Squadron boasts a big bank account and • 24/7 building access and building security endorsements from Sen. Charles Schumer and The New York Times. But • Convenient to all transportation incumbency is powerful, and Mr. Connor is better known than Mr. Squadron in brownstone Brooklyn and lower Manhattan. FOR LEASING INFORMATION PLEASE CONTACT: State Sen. Shirley Huntley vs. Allan Jennings. The black sheep of Queens Grant Greenspan politics, Mr. Jennings hopes to crash the party, but the Democratic machine 212-471-4340 • [email protected] will protect the inexperienced Huntley. Assembly Assembly Speaker Sheldon Silver vs. Luke Henry and Paul Newell. The THE KAUFMAN ORGANIZATION speaker has been beaten up by editorial boards and former Assembly aides, WWW.KAUFMANORGANIZATION.COM but he is likely to win comfortably.

14 | Crain’s New York Business | September 8, 2008 Project2 7/21/08 10:09 AM Page 1

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

leveraged $7 billion purchase of ECONOMIC SPOTLIGHT them fell apart. Astroland no more the owners of Astroland amusement park in Coney Island gave up negotiating a new lease with property owner Thor Equities and set Sunday, Sept. 7, as the park’s final day of operation.The historic park’s future has been the source of strife between Astroland’s owners,Thor Equities, and city officials for years. Firm puts $10B

landov on real estate morgan stanley is raising $10 Feds charge Credit Suisse billion for a global property fund, despite concerns about a ‘auction’ brokers weakening real estate market.The FEDERAL PROSECUTORS FILED the first criminal charges into Morgan Stanley Real Estate Fund the auction-rate securities debacle, accusing two CREDIT VII Global will invest at least $1.5 billion of that in China, with a SUISSE brokers of conspiracy and fraud for selling securities focus on big cities such as backed by subprime mortgages and other toxic assets. The Shanghai. SECURITIES AND EXCHANGE COMMISSION said Julian Tzolov Economy Watch and Eric Butler (above) misled clients by claiming that their Murdoch’s Star TV With the first of the Wall Street layoffs showing up, the city’s jobless rate securities were backed by student loans. takes N. Virginia rose in June, and the total number of jobs declined. media mogul Rupert Murdoch MAY ’08 JUNE ’08 COMPARISON likely to buy Lehman time to work inked the first deal to distribute 1 NY area inflation change +1.0% +1.0% +4.5% Pfizer bets $775M out problems stemming from the shows from his Indian television NYC unemployment rate 5.2% 5.4% 5.5%2 on drug Dimebon rocky mortgage market—which unit on cable in the U.S.. Cox NYC employment change -300 -1,000 +12,7003 may include segregating its bad Communications will offer Star pfizer inc. partnered with loans in a separate company. TV to customers in northern 1-NY area inflation change for the latest 12-month period. 2-U.S. unemployment rate for the latest month. 3-NYC employment change year to date. Medivation Inc. to develop and Lehman is expected to post a $2 Virginia, home to one of the promote Dimebon, a drug billion quarterly loss this month. largest South Asian enclaves in candidate designed to treat the United States. NYC Hotel Stats Broadway Stats Alzheimer’s disease and Gristedes bagged Huntington’s disease. Pfizer will Queso con E. coli Occupancy and room rate declined Attendance and box-office gross pay $225 million up front and u.s. district judge Paul Crotty in July, PKF Consulting data show. slipped during the week ended $500 million more if Dimebon ruled that Gristedes violated new york-based Queseria La Year-to-date averages—at 85.5% 8/31, The Broadway League says. receives regulatory approval. It will federal and state labor laws by Poblanita Inc. voluntarily recalled and $296.80, respectively—topped Attendance hit its lowest level since also market the drug and reap a failing to pay some 400 current a brand of cheese used in Mexican those for the same period in ’07, mid-February; gross fell to levels majority of the profits. and former food after an inspection found E. which were 84.4% and $275.36. not seen since early March. workers coli bacteria in a sample of its La overtime Clarita Queseria Queso Fresco Judge upholds gay wages. He will late last month.The cheese was marriage decree now determine sold primarily in the New York how much the metro area. a state supreme court judge grocer owes in threw out the first direct legal back pay, Museums hire challenge to Gov. David Paterson’s interest and punitive damages. move to recognize out-of-state gay The workers are seeking $25 the solomon r. guggenheim marriages.The judge said the million. Foundation is poised to name policy is a permissible step toward Richard Armstrong director, equality for gays. A Christian legal NYers to NYPD: replacing Thomas Krens. He is group filed the suit, saying the seen as a conservative choice—an issue should be decided by the Bunk elsewhere industry veteran who most state Legislature, not the governor. recently directed the Carnegie three lower manhattan Museum of Art in Pittsburgh.The Landlord unloads residential cooperatives are suing Museum of Modern Art also Capital IQ’s Weekly Deals Report the New York Police Department tapped in-house curator Ann africa israel investments to stop construction of a high-tech Temkin to succeed John TRANSACTION SIZE COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE Ltd. is selling half of its equity command bunker at its downtown Elderfield as chief curator of stake in the former New York headquarters.They say the painting and sculpture. Asset Management Finance Corp. $384.0 Credit Suisse Group SB M&A Manhattan Times Building for $50 million complex should undergo —from staff reports and Hermitage Insurance Co. $135.0 CastlePoint Reinsurance Co. SB M&A and a $360 million debt load. It is environmental and land-use bloomberg news reports White Plains also selling a 50% stake in the reviews.The NYPD maintains that Wilhelmina International Ltd. $30.0 New Century Equity Holdings Corp. SB M&A Clock Tower Building at Madison the construction project is legal. Manhattan Square Park and all of 23 Wall St. DigiMeld Inc. $2.0 Individual investors GCI for $150 million each. Manhattan Mitsui on Madison American Interactive Media Inc. n/a Zealous Trading Group Inc. SB M&A japanese real estate company Manhattan Koreans eye stake Mitsui Fudosan signed a deal to Global Music Group Inc. n/a Mediatechnics Corp. SB M&A in Lehman Bros. purchase 527 Madison Ave. for Manhattan about $225 million in an all-cash Selected deals announced during the week of Aug. 24 for companies headquartered in metro New korea development bank transaction.The building is one of York. GCI: Growth capital investment represents new money invested in a company for a minority stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing confirmed its intent to buy a stake the seven towers that Harry bloomberg news shares of a company without the participation of a financial buyer. in investment bank Lehman Macklowe returned to lenders THE GUGGENHEIM FOUNDATION is set

bekka lindström bekka Brothers Holdings Inc. A deal is earlier this year when his highly to name Richard Armstrong director.

16 | Crain’s New York Business | September 8, 2008 CN012283 8/25/08 11:46 AM Page 1

4041816_Mag_4C_A_Copier_ven.indd 1 7/10/08 6:46:02 AM CN012302 8/29/08 2:56 PM Page 1 CNYB 09-08-08 A 19 9/4/2008 2:36 PM Page 1

SMALL BUSINESS INSIDE Hits & Misses An artful wedding photographer, an executive-turned- baker and a posh florist PAGE 23 How-To Suggestions for finding affordable employee health coverage PAGE 26

SILVER LININGS THE DOCTOR IS IN: Morris Stemp is having trouble keeping up with demand at his medical-practice technology firm.

NONPROFITS Levien & Co. built a strong foundation in education and the arts.

Firms thrive WALL STREET Green investments NICHES have turned out to be in bright spots Ardour’s brass ring. david neff david

Stemp, who e-mailed a reporter a Small businesses operating in Health care, tourism, education job description “in case you know those areas or nimble enough to ex- anyone who may be interested.” pand into them should be more among sectors likely to keep growing Though the outlook for the successful during the downturn. city’s economy over the next year is In particular, economists are grim, with layoffs and lower Wall looking for strong performances BY STEVE GARMHAUSEN Street bonuses taking a toll, Stemp from education and health care, Systems Group Inc. and other which together account for about morris stemp barely has time to notice that the city’s small firms engaged in health care, 695,000 jobs in New York.The two economy is sputtering. He’s too busy searching for more education,tourism and some kinds sectors added a combined 7,300 employees for his growing business providing technology to of investment banking are upbeat. jobs in the city in the 12 months HEALTH EquipSystems cleans medical practices. Those sectors are expected to through July. CARE up by providing continue thriving because of non- “Education and health are the services to hospitals. “We’re looking for people who are very smart, and willing cyclical spending, a steady flow of most resilient sectors, historically to travel and to work night and morning hours,” says Mr. tax dollars or just good timing. See FIRMS THRIVE on Page 20 See stories, Page 22

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September 8, 2008 | Crain’s New York Business | 19 CNYB 09-08-08 A 20 9/4/2008 2:42 PM Page 1

REPORT SMALL BUSINESS TIPS FOR FINDING NEW MARKETS WHEN THE ECONOMY TAKES A NOSEDIVE, Richard Laermer, president of RLM PR in Manhattan, knows where to turn. Most of his clients have been hard hit Firms thrive in bright spots by the downturn, so Mr. Laermer recently invested $15,000 to upgrade RLM’s Web site to attract pharmaceutical and other health care-related companies. Continued from Page 19 demand for schools at all levels is in- well right now,” says President Ken shift Experts say small businesses can better weather a recession if they speaking,” says Jeff Weisenstein, an creasing.In both sectors,big institu- Levien. “The economy has not hit resources to sectors that are still fairly vigorous. Here are some steps: analyst with the state’s Department tions have already budgeted for cap- us at all.” •Survey the market to match products or services to needs. of Labor.“If there’s less tax revenue, ital projects, which are often funded The need for primary and sec- •Retarget marketing to vigorous industries. these institutions may not hire as by donations or public money, or a ondary schools is also growing, ac- •Concentrate on the Web. Online retail sales rose 21% last year, from many people as they did in the past, mixture of both. cording to Barbara Byrne Denham, 2006, to $165.9 billion, compared with total retail sales growth of just 3.9%. but the general trend is that they are chief economist at real estate invest- •Build on expertise. For instance, a real estate sales business can still going to add jobs.” Immunity zones ment firm Eastern Consolidated. expand into appraisals. In addition to a dependable flow construction project manager “Considering … the ever-tighter •A business already operating in a sound sector can’t rest on its laurels. of tax dollars,the two industries also Levien & Co. is one of the firms market for private schools and A shifting market might provide the right time to expand. benefit from a few long-term demo- working on Columbia University’s preschools, [the city] could open —KERRY MURTHA graphic trends:An aging population 17-acre expansion. four schools a year and they would requires more health care, and the “We really are doing extremely still fill up,” Ms. Denham says. Stemp Systems is profiting as private medical practices become more sophisticated. The company installs and manages electronic systems for storing and tracking med- RELATIONSHIPS MATTER! ical records, billing and lab results. “Doctors cannot practice medi- cine without technology these days,” says Mr. Stemp. He projects revenue growth of 40% this year, to $3.5 million. Tourism also offers fertile ground. Though its future is some- what less certain, it has held up well in the current downturn.The industry accounts for 308,000 jobs in the city, adding almost 9,000 positions in the 12 months through July. Domestic travel has softened,but Europeans have compensated for it, according to Lalia Rach, divisional dean at New York University’s Tisch Center for Hospitality,Tourism and Sports Management. Thomas Berton, chief executive of Manhattan By Sail, which specializes in cruises of New York Har- bor,has noted the large influx of Eu- ropean tourists this summer. Mr. Berton says that the new source of business has allowed his company to keep pace with last year’s revenue generation—despite a decline in corporate spending and a plague of inaccurate weather fore- casts in May and June that kept customers away. Long-term bookings yes no My Banker visits my business regularly. if not for the declines in local business, revenues at the seven- yes no My Banker understands my business. year-old business would probably be up rather than flat for the year, Mr. yes no My Banker helps me grow my business. Berton says. Even so, staff was boosted to 25 from 18 last summer. Ms. Rach points out that meet- If you answered ‘no’ to any of the above, it might ing and convention venues are be time for a new business banking partner. booked for years into the future. “New York City is still the financial capital of the world,” she says. Another bright spot are thriving niches on Wall Street, such as alternative energy. Most big investment Find out what makes us different. Call today! banks have built a range of capabil- ities around it, ranging from analysis to venture capital. 1-800-250-6968 Lehman Brothers formalized its alternative energy investment banking group earlier this year, notes Todd Guenther, the firm’s co-head of alternative energy banking. As bright as the renewable energy field appears,its growth hinges on the extension of investment tax credits beyond this year.“A lot of these alternative energy businesses require them to compete with other energy options,” Mr. Guenther says. © 2008 Banco Popular North America. Member FDIC. COMMENTS? [email protected]

20 | Crain’s New York Business | September 8, 2008 Project1 8/6/08 1:31 PM Page 1

HEALTH DENTAL VISION LIFE DISABILITY CNYB 09-08-08 A 22 9/4/2008 2:45 PM Page 1

REPORT SMALL BUSINESS

“OUR CLIENTS Tilting funds at windmills build for need. It’s not a cyclical thing,” Ken Levien says. Ardour Capital’s business in alternative energy allows it to thrive as most of Wall Street languishes YOU MAY NOT FIND windmills in New York City— knowledge. Ardour staff members perform yet—but you will find Ardour Capital Investments, complicated evaluations of companies, then which is prospering as an investment bank for the explain the mysteries of ultracapacitors and nickel green revolution. metal hydride batteries to investors in plain WALL STREET The five-year-old firm specializes English. Employees hold advanced degrees in NICHES in research, advisory services and areas such as microbiology and geophysics. funding for renewable energy and Layoffs in the broader financial services sustainable technology companies. Ardour’s industry have been a boon for Ardour. It has narrow focus has been rewarding: Revenues added three senior employees over the past year, surged to $8.4 million in 2007 from $3.9 million for a total of 25 staff members, and is scouting for the year before. They are expected to reach $10 more, Mr. Greenstein says. million this year and are projected to double in The company has helped raise $1 billion for buck ennis 2009. 30 businesses. This spring, it assisted Colorep The company’s concentration, green energy, is Inc., an eco-friendly printing and dyeing one of the few niches that is thriving on Wall technology firm in California, in landing a $24 Building on diplomacy Street, even as big investment banks lay off million private placement. thousands of workers. Ardour also produces alternative energy the Leon Levy Foundation. The foundation funded “There’s a recognition that this sector is going indexes that track dozens of companies worldwide Forging consensus, the transformation of a townhouse near the to be one of the ones that grow,” says Brian and are licensed by investment firms. For soothing egos falls to Metropolitan Museum of Art into NYU’s Institute Greenstein, a managing partner and co-founder of instance, Van Eck Global uses one of the indexes for the Study of the Ancient World, a project that Ardour. for its Global Alternative Energy ETF. manager Levien & Co. Levien supervised. Investors worldwide poured nearly $150 Kerry Dukes, co-founder and managing A focus on not-for-profits might seem a simple billion last year into clean energy companies, partner at Ardour, met Mr. Greenstein in 1990, MOST OF NEW YORK CITY’S businesses are subject way to render a construction business recession- notes Ethan Zindler, head of North American when they worked at the boutique firm Bluestone to the ebb and flow of the economy, but a lucky proof, but not every firm is capable of the level of research at New Energy Finance. He says that Capital. “There are a lot of very smart people on high-priced oil “is good news for clean energy—it’s Wall Street, and good firms,” Mr. Dukes says. “But NONPROFITS few, including construction project diplomacy required, Mr. Levien says. manager Levien & Co., can swim For example, a typical private school project that simple.” we’ve yet to come across anyone who focuses all against the tide in tough times. requires forging consensus among trustees, But getting in on the ground floor of alternative their energies on this sector.” Three-quarters of the firm’s business comes administrators, faculty, parents, students, donors energy and sustainable production takes rarefied —STEVE GARMHAUSEN from not-for-profit clients, who plan capital and the surrounding neighborhood. Meetings are projects years in advance and fund them from large—and so are some of the egos involved. reserves of cash donated during the flush times. In several instances, a client has become “Our clients build for need,” President Ken dissatisfied with its architectural firm, Mr. Levien Levien says. “It’s not a cyclical thing.” says. His company must break the news to the TURBOCHARGED: Business at Levien, which oversees armies of firm that it’s being replaced or that another Investors recognize that architect is being hired. The original designer, the industry will grow, contractors to ensure that developments come in says Ardour co-founders on budget and on schedule, is humming along. whose feelings are likely to be bruised, is Kerry Dukes (left) and Mr. Levien projects revenue growth of almost 28% expected to continue alongside the new favorite. Brian Greenstein. this year from 2007, to about $5.8 million. The In such cases, Levien & Co.’s responsibility is firm has added three staff members this year, for keeping “everyone whole and getting the new a total of 18. team invigorated and moving forward,” says Levien & Co. has handled jobs for clients as Denise Ferris, project manager at the firm. diverse as Carnegie Hall, American Red Cross in Operating in this particular area also means Greater New York and the Lesbian, Gay, Bisexual meeting the needs of a broad array of clients. and Transgender Community Center. Most of “We build science labs, apartment buildings, Levien’s clients are within 75 miles of the city. performance venues and churches and The 16-year-old company has courted its synagogues,” Mr. Levien says. “You have to know market segment for a decade, steadily winning all the architectural vernaculars.” respect, according to John Bernstein, president of —STEVE GARMHAUSEN buck ennis Cleaning up through war against germs

busiest hours. EquipSystems disinfects, maintains inventory “We make sure our teams are prepared and on facilities’ odd schedules; looking to wider market flexible, and we complete whatever we commit to,” says Mr. Wilkerson, who has expanded the STAFF MORALE ROSE noticeably after of infections you get in hospitals,” says company’s market from the New York-Boston EquipSystems cleaned and refurbished President Chris Wilkerson, who took over the corridor to include the mid-Atlantic states and equipment at Atlanta Medical Center earlier 20-year-old company from its founders four California. HEALTH this summer. Among other years ago. “Hospitals are taking a very He also reminds facilities of the science CARE things, the company degunked aggressive and proactive approach.” behind his company’s services. Organizations the wheels on I.V. poles. EquipSystems’ revenues have grown 80% including the Joint Commission, a national “When a nurse doesn’t have to struggle to over the past year and are forecast to come in health care industry accreditation body, have MR. CLEAN: push a sluggish pole, it makes a difference,” at $1.5 million for 2008. Six employees have recognized the critical importance of basic Awareness of hospital-acquired says P. Roxane Armfield, infection control been added this year, for a total of 16. cleanliness in health care settings. infections has manager at the medical center. Success in serving health care institutions Meanwhile, a public that is increasingly risen, says Chris A growing number of hospitals, nursing hinges on being able to work around hectic aware of the risks is apt to steer clear of a Wilkerson. homes and dialysis centers are turning to schedules and in unpredictable environments, hospital that doesn’t have clean wheelchairs Brooklyn-based EquipSystems in an effort to Mr. Wilkerson says. and stretchers. reduce facility-acquired infections and keep For example, he points out that it’s not “My challenge is to continue to stay in the better track of their inventory. unusual for his employees to work from 4 a.m. ‘have-to-have’ category versus the ‘nice-to- “There has been an increased focus on to noon in an emergency room, to avoid have’ one,” Mr. Wilkerson says.

buck ennis patient safety and a growing public awareness disrupting staff during the department’s —STEVE GARMHAUSEN

22 | Crain’s New York Business | September 8, 2008 CNYB 09-08-08 A 23 9/4/2008 2:50 PM Page 1

REPORT HITS & MISSES Does being a woman or minority entrepreneur make a difference? by Tina Traster Picture-perfect career uring china’s Cultural DRevolution, Jen Huang’s parents were forced to leave college and work as farmers. The Huangs came to America in 1989, envisioning a better life for their children—an GOT IT: Ms. Huang specializes in candidly shot weddings. image that didn’t include their daughter becoming an artist. “My parents were not happy when I told them I planned to become a photographer,” says Ms. Huang, 23. “All of my Asian-American friends have gone corporate. My parents expected me to do the same so that I would have health insurance and a 401(k).”

In January 2007, Ms. Huang she says. founded Jen Huang Photography with Ms. Huang had to stop helping $12,000 in savings in a rented live- brides plan every detail of their big work space in the Bronx. She raked day. In addition, she hired a in revenues of $180,000 last year business manager for 10 hours a and expects the figure to rise to week to handle accounting and $220,000 this year.The payroll. entrepreneur is now buying a condo Initially selling herself short, at The Langston, in Harlem, which Ms. Huang charged just $200 per will also function as her personal event. “Because my parents were so office. down on the whole idea, I lacked Ms. Huang, with the help of six confidence ,” she says. When her employees, including two staff Web site went up and business photographers, specializes in boomed, Ms. Huang revised her weddings and other special events. pricing in line with industry rates. Using photojournalism techniques, She’s now considering boosting her she produces candid, natural fee to $6,000. pictures. Her fee is $5,500, plus travel expenses if she’s booked for a destination wedding. She has shot From office nuptials in China, Mexico and to baking oven Puerto Rico. Her ethnicity has helped her or her 40th birthday in business, Ms. Huang says. “I’ve 2004, Debbie Bonner gave received many client remarks along F herself a birthday present: the lines of ‘Meeting an Asian- permission to leave a cushy American female entrepreneur is corporate marketing job to really inspiring to me.’ ” become a professional baker. After years of making pies, cobblers and HITS cakes for friends, family and The right contacts Harlem community groups, Ms. ms. huang sent her portfolio to top Bonner finally scraped together New York photographers, including financing to create Debbie’s Soulful Brooklyn-based Karen Wise, who Sweets. also shoots weddings. “I wanted to It has been a slow, uphill climb. align myself with the best talent,” But this African-American, who says Ms. Huang, who gets referrals grew up in the South Bronx, has a from Ms. Wise and sometimes strong support network of other freelances for her. women who have helped her along Another partner is Linden the way. Ms. Bonner says that Travel in Manhattan. An agent being black has been a neutral there refers clients planning factor in her success, but adds, destination weddings. “It’s better “If I were Italian, I might have a than working with a wedding harder time selling red velvet cake.” planner because they take a cut,” The baker, who produces about Ms. Huang says. a dozen cakes a day in MISSES rented Sleep-deprived during the first four months, CAKES define Ms. Huang skipped meals, went Debbie’s without sleep and developed a Soulful Sweets. lingering flu. “I was overextended,” Continued on Page 24

September 8, 2008 | Crain’s New York Business | 23 CNYB 09-08-08 A 24 9/4/2008 2:53 PM Page 1

REPORT SMALL BUSINESS

commercial space, has found a HITS visibility and helped her build a closely held family secrets, but this demand for Southern-style sweets The right contacts clientele without a retail storefront. woman saved my company,” Ms. from corporate headquarters to getting rejected by a handful of Bonner says. farmers’ markets. Web site sales are banks led Ms. Bonner to Project MISSES When Debbie’s Soulful Sweets also picking up. Her Really Red Enterprise, a microlender in Conversion problems launched in late 2004, Ms. Bonner Velvet, Gran’ma’s Coconut Harlem. Borrowing $5,000 helped ms. bonner was perplexed when was selling only about 15 cakes a Pineapple and Ma’s Hummingbird jump-start the operation with she moved to a professional kitchen month.Then she got 250 orders

cakes cost $35. Individual-size equipment, her Web site, and silk- and her recipes weren’t right. “I just the week before Thanksgiving matthew hanlon fried-apple pies and bread pudding, screened promotional tote bags. thought if I scaled everything up, 2005. “I underestimated the and sage sausage-cheddar cheese Project Enterprise also opened the baked goods would taste the effectiveness of all those business Bloom boom buttermilk biscuits, are $1 to $3.50. doors. “They put me in touch with same,” she says. “They were awful.” cards I’d been handing out,” Ms. andra de ovando has “It was not easy to walk away corporate contacts like NBC, Bear Ms. Bonner spent $2,000 to hire a Bonner says. Rounding up family never advertised Ovando, from a steady paycheck,” says Ms. Stearns and WBLS, a black-owned professional scaler—a food scientist members and working three days Sthe chic flower shop on Bonner, who has one full-time radio station.” Selling at the who converts home recipes to without a break, she filled the Bleecker Street that she employee and uses several part- Harlem Green Market every commercial formulas. orders. opened in 2003. Ms. Ovando timers during holidays. Revenues Tuesday from July through “I was afraid to let someone see grabbed the attention of were $95,000 last year. November has given Ms. Bonner the recipes because they had been COMMENTS? [email protected] celebrities and the media with artistic arrangements displayed against a dramatic black interior and strong lighting. The West Village store, which employs 14, had revenues of $3 million last year. Its clients include the Central Park Boathouse, Nobu and many top hotels. A native of Mexico, Ms. Ovando, 40, says that being Hispanic hasn’t helped or hindered her. She concedes, however, that customers sometimes say,“ ‘It’s nice to give business to a woman.’ ” Ms. Ovando arrived in New York in 1991 with almost no money. She worked her way up through hotel management and eventually co-owned a flower shop. When her partner bought her out in 2001, she had $150,000 to start her own business. HITS Thrifty moves taking on the general contractor role for the $90,000 renovation of her store shaved Ms. Ovando’s launch costs. “It would have been double if I had not overseen the work and shopped for materials,” she says.Two members of Donna Karan’s visual team stumbled on the store about 10 months after it opened. “They were excited to find orchids, succulents and other exotics,” Ms. Ovando says. MISSES Artful distractions ms. ovando grossly underestimated her need for space—twice. Used initially as a work studio, the shop “was losing retail business because we were too busy creating arrangements and not catering to customers,” she says. In 2004, she rented a 700-square-foot production space nearby, but it still wasn’t enough. A year later, she left that for 2,200 square feet in the flower district. The owner has also discovered that a sparkling résumé and good interview don’t necessarily translate into a successful hire. Ms. Ovando now tests candidates with a bridal estimate to assess how well they work with numbers.

24 | Crain’s New York Business | September 8, 2008 Project8 8/28/08 2:15 PM Page 1

The plan that works for all New Yorkers.

We won’t be making speeches this year. We’ll just be working hard to get the fundamentals of health care right. Giving New Yorkers the great doctors they want at premiums they can afford. Isn’t that a plan we can all agree on?

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emblemhealth.com CNYB 09-08-08 A 26 9/4/2008 2:58 PM Page 1

REPORT

HOW-TO

GROWING DREAD: Doreen Zayer wants to expand, but it will mean moving more of her business’s health coverage costs to employees. buck ennis Tips for getting health insurance

digit cost increases for health care, Carefully select many of them have dropped the carriers and plans, benefit. Health care benefits are neces- and let workers sary for companies to hire and retain know the score quality staff. What choices do firms have that want to remain competitive? Here are some suggestions for We believe in small business. BY TINA TRASTER finding affordable health care. he math doesn’t work TIP 1 out for Doreen Zayer, Do the homework. owner of two day spas in Staten Island. She cov- construct a basic framework by ers up to half of her surveying employees.Do most need Tworkers’ health care premiums but a single or family plan? Are they wants to grow her business and can’t willing to go to in-network doctors, afford to maintain that level of cost- or do they want access to other sharing. physicians? “If I go from five to 15 employ- Get a general assessment of ees,I will need to reduce the compa- workforce health. Involve employ- ny’s contribution to 25% per em- ees in the selection process so that ployee,” says Ms. Zayer, owner of they will be more agreeable to pay- Relax on Cloud Nine Inc. “It’s an ing their share. impossible situation. It’s not fair to ask employees to keep shouldering TIP 2 the burden,but I want to expand my Shop around. workforce, and I can’t.” Nationally, the percentage of scan the web and get an online small businesses—those with fewer quote from ehealthinsurance.com than 200 employees—offering before beginning the search for an health coverage last year was 59%, insurance broker. Ask other owners Each year, hundreds of certified minority, women-owned, and small business compared with 66% in 2002, ac- for broker recommendations. enterprises (M/W/SBE) play a major role in delivering critical services and products cording to the Kaiser Family Foun- Get referrals from industry and that fuel the world’s largest airport system, the East Coast’s biggest seaport, and the dation. Less than half of the small- trade groups;some offer their mem- region’s most active tunnels, bridges, and terminals. est companies—those with fewer bers discounts on health plans. Now more than ever before – the Port Authority needs regional businesses to than 10 employees—provided cov- Contact the Small Business Ad- erage in 2007. ministration and local chambers of help it complete its $29.5 billion 10-year capital investment plan. In New York state, 52% of work- commerce, and check the Web site At the Port Authority, we believe in small business; we believe in you. Become ers in small firms didn’t have access of the National Association of a certified M/W/SBE firm today. to health insurance through their Health Underwriters. employers in 2005, according to the Interview at least three brokers. panynj.info/doingbusinesswith United Hospital Fund. Make sure they work with multiple The low numbers will not sur- carriers, and ask them to present prise small business owners in New several options. Though fees vary, York City. Hit with annual double- most brokers offer free estimates. CNYB 09-08-08 A 27 9/4/2008 3:02 PM Page 1

REPORT SMALL BUSINESS

TIP 3 health care benefits as an incen- rein on costs when it launched in meaningful benefit,” he says. mammograms, drugs and doctor Get a blessing. tive,” says H2O Associates Presi- April 2007. It signed up with visits for chronic conditions. dent Jason Dodd. Healthy New York through Empire TIP 8 before narrowing down plan BlueCross, which kept monthly Investigate a newer solution. TIP 9 choices, visit ambest.com to get rat- TIP 7 premiums at less than $230 per em- Consider the last resort. ings for carriers.New York state’s In- Offer a smorgasbord. ployee but was restrictive. health savings accounts are surance Department publishes rat- “We could have requalified for funded with pretax dollars to cover look at a reimbursement arrange- ings based on services and customer include both in-network and out- the program this year, but we want- medical expenses. These portable ment covering qualified expenses satisfaction.Make sure a carrier is it- of-network options, and provide ed to give our employees a richer accounts, which are becoming more following IRS guidelines.For exam- self properly insured. Moody’s and more options. Have the broker ex- plan,” says Rodney Byrd, Roasting readily available, carry low premi- ple, an employer could agree to con- Standard & Poor’s are also good re- plain plans using videos, charts and Plant’s vice president of human re- ums but high deductibles; they can tribute $500 toward allowable ex- sources for investigating plans. Go- other visual aids so that employees sources. reduce employers’ share of premi- penses. Employees submit their ing with a company that isn’t stable can make informed choices. Though the company’s health ums by 8%. Most HSAs include invoices to be paid back. or a plan that isn’t well-designed can Roasting Plant, a Manhattan care costs have tripled, “we feel it’s 100% coverage for preventative mean trouble down the road. coffee company, had to keep a tight important for employees to have a care, including annual physicals, COMMENTS? [email protected]

TIP 4 Keep it lean. options include health maintenance organizations, preferred provider organizations and point- of-service plans, the last two being Why did he ask about my more flexible. But HMOs reduce administrative and paperwork expenses, as well as premiums, and of- clients’ escrow accounts? ten cost 15% less than traditional plans. Other cost-saving measures include raising copayments or elim- inating coverage for name-brand Because he completes me. medications. The state subsidizes coverage for small businesses through a program called Healthy New York. Monthly premiums average $250.31 in the city for a basic single package, including pharmacy benefits. Owners are required to contribute half of the premiums. Brooklyn HealthWorks lets companies with up to 50 workers offer plans with individual premiums starting at $221; it might be expanded to other boroughs.

TIP 5 Beware of hooks.

avoid policies with such come-ons Michael Ashley as “discount cards” offering 25% off family law attorney doctors’ visits and prescriptions, as New York, NY well as those covering a specific disease, like cancer or diabetes. Trade group plans are better than nothing but are often limited.

TIP 6 Share costs. rising costs have made distribut- ing the burden unavoidable for small businesses. At Manhattan- based branding firm H2O Associ- ates, employees pay 40% of premiums their first year,30% after a year and 20% at 18 months. “We use

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HAVING unhealthy At HSBC Business Banking, we build our relationship workers can mean paying with you on Rarely Asked Questions (RAQs). higher The better your HSBC relationship manager understands your business, the better he premiums. or she can tap into our global ﬁnancial network to give you a competitive advantage. Take such That’s why our ﬁrst conversation together is going to be about you — not us. When preventative steps as offering smoking cessation was the last time your bank asked you the right questions about your business? Visit a programs, a workplace Weight branch or call 1-866-909-1267 to talk to a relationship manager. us.hsbc.com/business Watchers, health club access, free flu shots and online health assessments from a site such as www.sparkpeople.com. Products in the United States offered by HSBC Bank USA, N.A. or HSBC National Bank USA. Both banks are Member FDIC. ©2008 HSBC Bank USA, N.A.

September 8, 2008 | Crain’s New York Business | 27 CNYB 09-08-08 A 28 9/4/2008 7:42 PM Page 1

Open source lab open for business 1251 Joint venture facility will be developed, that people Avenue of the Americas should be properly trained to use it at CUNY for city, and made aware of it.” state departments The open source approach to software development allows different programmers to freely create BY AMANDA FUNG and enhance Web technologies. It High Floors. has become an important part of the Rare 2-Floor Tower Availability new york’s technology geeks got business model at a number of firms, a new playground last week: the including Microsoft Corp. and on the 42nd and 43rd Floors New York City Open Source Solu- Facebook. Red Hat, based in tions Lab, launched by the City Raleigh, N.C., is a pioneer of open University of New source software. York and giants ‘Open source The lab took High End. Red Hat Inc. and two years to real- Intel, the first such is growing ize, according to 88,000 Contiguous SF with facility in town. Mr. Brown. New City and state across the York City and Dramatic City Views on All Sides agencies’ informa- state IT staff have David A. Falk tion technology already shown in- 212.372.2271 professionals will public sector’ terest in making [email protected] be able to develop appointments to cost-effective and use the lab. Peter T. Shimkin High Profile. flexible systems at “The Solutions 212.372.2150 Prime Rockefeller Center Location the state-of-the- Lab provides the [email protected] art facility, located ideal environment Prestigious Tenant Roster at CUNY Graduate Center’s Insti- for New York-based agencies and tute for Software Design and De- departments to see the benefits for Exclusive Leasing Agent: velopment in midtown. themselves,” Paul Smith, vice pres- Red Hat and Intel donated the ident of government sales opera- hardware and software for the lab, tions at Red Hat, said in a state- and CUNY will train students to as- ment. MITSUI FUDOSAN AMERICA sist with work being conducted “Adoption of open source is there. Costs were not disclosed. growing rapidly across the public MIT-1005 1251 Crains6x6.indd 1 8/28/08 11:03:35 AM “The new lab is important to the sector, and with this lab, New York city because open source is a trend,” has put itself in the forefront of ... says Ted Brown, the institute’s exec- innovation,” the statement said. utive director. “There is so much software that is being developed and COMMENTS? [email protected] Jobs up in Harlem, Jack Resnick & Sons outer boroughs is pleased to announce Gains over past losses,”says Jonathan Bowles,direc- the following lease renewal tor of the nonpartisan Center for an decade are outside Urban Future. “It highlights that there are still a lot of problems re- Manhattan; losses maining down there.” ONE SEAPORT PLAZA posted downtown Other parts of the city are taking up the slack by creating new jobs. ZIP code 10027, which includes 199 Water Street BY ELISABETH BUTLER CORDOVA Morningside Heights and West Harlem, showed a 187% gain in South Street Seaport new york city gained 256,000 jobs jobs during the decade, and two during the past decade, primarily other Harlem neighborhoods re- because of growth in Harlem and ported a doubling. SCOR U.S. Corporation neighborhoods outside The outer boroughs Manhattan. also contributed signifi- A report issued by the cantly to the city’s growth. Entire 20th & 21st floor Center for an Urban Fu- 10005 On Staten Island, 83.3% ture notes that four ZIP of the ZIP codes showed 70,070 Sq. Ft. codes in the southern tip 10007 gains in employment, and of Manhattan—10005, 83.1% of Queens areas 10007, 10038 and improved. 10048—were among the 10038 In Brooklyn, 80.5% of five ZIP codes in the city the ZIP codes generated with the most jobs lost. 10048 more jobs, while 76% did ZIP CODES among Employment in those the five in the city in the Bronx and 65.9% Jack Resnick & Sons four downtown areas that lost the most did in Manhattan. Owners and Builders Since 1928 dropped by nearly 79,000 jobs “We do not just have a 110 East 59th Street, New York, NY 10022 jobs between 1997 and Manhattan economy any- 212-421-1300 • www.resnicknyc.com 2007. more,” Mr. Bowles says. “Sadly, it’s not a huge surprise that lower Manhattan had a number COMMENTS? of ZIP codes that were leaders in job [email protected]

28 | Crain’s New York Business | September 8, 2008 advertorial1.ai 8/27/08 7:16:39 PM

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Planning an Office Holiday Party continued

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et’s face it: it’s hard to paper at the table. At the most, for three hundred, only to have the L transform a relatively include one menu per table planner say, “I don’t like it, can you bland meeting room setting and one program or do something else?” half an hour into a space that looks like a vision. agenda placed on the chair. before the function was scheduled Here are nine simple rules to Anything more makes the tabletop to begin. remember when designing a look crowded and messy. Rule #7 Always order extra tablescape. Rule #5 Don’t go overboard linens. Far too often, planners and Rule #1 The ideal number of on the centerpiece. Maximum conference services staff forget to guests at a 60” banquet round is 8; width should be no greater than order extra linens. Cocktail rounds a 72” round is 10. six inches; maximum height and buffet tables need love, too. Rule #2 A 60” banquet round should be ten inches. What many Rule #8 Buffet tables should will hold 10 people maximum; a 72” don’t realize is that the space always have the following elements: round maxes at 12. between the centerpiece and the elevation, texture and color. Rule #3 There is a finite top of the place setting is vital. If Rule #9 Don’t be afraid to have amount of space on the tabletop, so it’s minimized for a large center- fun. You really can’t go wrong if you don’t over do it. Keep in mind that a piece, we struggle to keep the have fun and keep in mind the basic table setting for a 3 course table looking good while setting “rules” above. meal with white and red wines bread and butter plates, salt and includes 10 pieces of serviceware pepper, table numbers, etc. Kelly Rush has worked in banquet, (7 pieces of flatware, 1 B&B plate, 2 Rule #6 Napkin folding takes catering, and conference services wine glasses) and the plate itself. At time. I mention this one because positions with upscale restaurants, the capacities listed above, the place several times, we’ve had no hotels, and resorts, planning and setting can be set out to 3 courses indication of how the group contact executing events for groups of 10 for Rule #1, 4 courses for #2. would like to have the napkin folded, to 200. He can be reached at Rule #4 Limit the amount of so we made a choice, set the room [email protected].

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pest control CNYB 09-08-08 A 35 9/4/2008 6:00 PM Page 1

REAL ESTATE DEALS

Restaurant corners Legal education provider Amsterdam locale mike’s italian kitchen will soon occupy the corner of Amsterdam wins case for more space Avenue and West 92nd Street. The Kosher à la carte restaurant, which already operates Mike’s Bistro on 11th floor was in the low $40s a tive Todd Kenig, Ricky’s is looking West 72nd Street and Broadway,re- Practising Law square foot. The company plans to into a third Brooklyn store in Park cently signed a 10-year lease for Institute expands on move from its current location at 28 Slope and plans to open the Wil- 1,000 square feet on the ground W. 21st St. early next year. liamsburg shop by the middle of floor of 654 Amsterdam Ave. The lease 7th Ave.; building’s Numerous 2009, after construction. includes a storage basement. The other architec- “Ricky’s is the definition of cool asking rent for the ground floor was largest tenant tural and engi- when it comes to retail in New York $180 a square foot. neering firms City,”says Ben Bernstein of RedSky “I believe in the corner location ractising Law Insti- have offices in Capital, which owns the Bedford and the evolution of Amsterdam tute, the largest tenant at Spacesmith’s Avenue location. “They add a lot to Avenue,”says Neal Ohm,a broker at 810 Seventh Ave., just new home. the community.”The new space was 1400 BROADWAY, which is being upgraded, CitySites Commercial Group who signed a five-year lease That was part formerly occupied by a Tasti D-Lite has attracted Central Mills as a tenant. represented the landlord, citing the for an additional 11,000 of the site’s al- and a small café. oversaturation of Broadway. “That Psquare feet, bringing its total in the lure, according Mr. Bernstein was represented entire area has an underserved pop- building to almost 90,000 square to Nicola by Steven Rock of the Carlton the 16th floor,was $55 a square foot. ulation. If you’re providing a basic feet. Heryet, a bro- Group and David Rosenberg of Located between West 38th service,it’s needed in that neighbor- The provider of continuing edu- ker at Colliers Robert K. Futterman & Associates. and West 39th streets,the building hood.” cation courses for attorneys rented ABR Inc. who Adam Stupak,a broker with Winick is in the midst of an $81 million David Kevelson of Manhattes more than two-thirds of the 22nd represented the Realty Group, negotiated on behalf overhaul. Its lobby has already Group negotiated on behalf of floor of the tower between West 31 W. 27TH ST. will company along of Ricky’s. been restored, and future improve- Mike’s Italian Kitchen.The eatery is 52nd and West 53rd streets. The house Spacesmith. with her col- —adrianne pasquarelli ments will include upgrading the tentatively scheduled to open for asking rent for the space was $85 a league Mark restrooms and installing new win- business this fall. square foot. The company plans to Furst. She dows. —adrianne pasquarelli move in by the end of October, ac- added that the new space is light and 1400 Broadway The renovation was one of the cording Chris Gulden, a vice presi- airy and provides room for Space- draws T-shirt maker factors that drew the firm to the dent at SL Green Realty Corp., smith to grow. building, according to its brokers, which owns the building. Robert Galluccia and Mitchell central mills inc. signed a 10- Marc Kritzer and Ari Waldman of The institute was represented by Konsker, brokers at Cushman & year lease for roughly 17,000 square Millennium Realty Group. Colliers ABR Inc. Chairman Mark Wakefield Inc., represented the feet at 1400 Broadway. Brian Waterman and Michael Boisi and broker Nicola Heryet. landlord, The Witkoff Group. The company, which does busi- Frantz, brokers at Newmark Knight Ms. Heryet says the deal was at- —theresa agovino ness under the name Freeze and Frank, represented the landlord, tractive because it allowed the insti- makes novelty T-shirts, plans to 1400 Broadway Associates, a part- tute to expand in space accessed by move from its current home at 1407 nership led by Peter Malkin. The the same elevator banks as its exist- Williamsburg Broadway by the beginning of next building is part of the W&H Prop- ing offices. She adds that the com- gets a Ricky’s year. The asking rent for the deal, erties portfolio. pany plans to sublease part of the which represents more than half of —theresa agovino 654 AMSTERDAM AVE. is the site for Mike’s. space. halloween is coming early for —theresa agovino Williamsburg hipsters. Ricky’s, the trendy beauty-supply chain that also sells costumes, recently signed a 12- Architect joins flock year lease for 2,000 square feet at 191-193 Bedford Ave., between North on West 27th St. Sixth and North Seventh streets. architectural firm Spacesmith The asking rent was $150 a square inked a 10-year deal for nearly foot. 10,400 square feet at 31 W. 27th St., This will be the retailer’s second between Fifth and Sixth avenues. Brooklyn location and 23rd shop The asking rent for the entire overall. According to Chief Execu- is pleased to announce the following transaction at 280 Park Avenue REAL ESTATE AND MORE ON CRAIN’S WEB SITE particular real estate brokerage or firm. Resources Get easy links to government agencies and industry Ares Capital Corporation groups involved in New York real estate. Back issues Use the archives to find has leased an additional 8,526 RSF, Crain’s encompassing the entire 28th ﬂ oor of the East Tower Tuesday e-mail Sign up today for stories in any and bringing its total occupancy to 24,000 RSF. Crain’s Real Estate Insider, a previous weekly e-mail newsletter featuring edition of the Joel Wechsler of Grubb & Ellis the latest deals, events and paper. represented the tenant in this transaction. personnel moves in one of the Subscribe hottest industries. To register, go to Use the www.crainsnewyork.com/ “Subscribe signup. now” button Breaking news E-mail alerts keep to get the For information on current availabilities you up-to-date on developments in weekly print edition of Crain’s and from 4,000 to 8,000 RSF please contact: the local real estate business as digital subscriptions to the they happen. newspaper. Peter Turchin | 984.8364 | [email protected] Paul Amrich Company alerts Visitors to Crain’s Events View a listing of meetings | 984.8122 | [email protected] Exclusive Leasing Agent: Web site can sign up for e-mail and other networking events of Gregg Rothkin | 984.8192 | [email protected] alerts that provide news about a interest to real estate professionals. Sloane Rhulen | 984.8299 | [email protected]

BWP-1014 ARES Capital Tombstone.indd 1 8/28/08 11:03:06 AM September 8, 2008 | Crain’s New York Business | 35 nb36p36-38cls.qxp 9/4/08 5:10 PM Page 36

REAL ESTATE BUSINESS OPPORTUNITY PUBLIC & LEGAL NOTICES

Request for Proposals NOTICE OF FORMATION OF LIMITED LIA- AUCTION BILITY COMPANY. NAME: STUDIO 814 THE RENOVATION, OPERATION & MAINTENANCE OF A HIGH-QUALITY LLC. Articles of Organization were filed Real Estate and Arcade Asset Auction RESTAURANT & BANQUET FACILITY with the Secretary of State of New York AT 201-10 CROSS ISLAND PARKWAY, (SSNY) on 04/17/08. Office Location: NY Auction on-site Saturday October 4th at 10am BAYSIDE, NY 11360 QUEENS County. SSNY designated as agent of the LLC upon whom process against it may Real Estate to Sell at Noon...Preview & Registration at 8am All proposals must be submitted no later than Friday, 2280 Lakeland Dr, Flowood MS, 39208 Open Friday Oct. 3rd from Noon-7pm be served. SSNY shall mail process to the October 31, 2008 at 3:00 p.m. Parks will hold a LLC, 814 Broadway, 4th Floor, NY, NY, Lakeland Dr. Frontage, Traffic Light Access - Just outside of Jackson, MS proposer meeting on Monday, September 29, 2008 10003. Purpose: Any lawful act. Former family entertainment facility in high traffic corridor on Lakeland Drive located at a at 11:00 a.m. at the proposed concession site, signalized intersection. Frontage, visibility and signage on Lakeland is excellent. Property which is located at 201-10 Cross Island Parkway, Notice of Formation of PILOT NYC, LLC, a consists of the following : 20,555 SF +/- ice rink; a 20,000 SF +/- arcade with party facilities Bayside, NY 11360, off the Cross Island Parkway and laser tag area; go-cart track; (2) 18-hole mini. golf courses; 8 batting cages; and, additional domestic LLC. Arts. of Org. filed with the storage building. Property consists of 7.5 +/- acres with an additional 14 +/- acres available between 201st and 202nd Streets in the Borough of SSNY on 07/18/08. Office location: NY with Pearl River water frontage. Property lines up to possible future river development. Queens. All interested parties are urged to attend. County. SSNY has been designated as Approx. 59,000 Cars per day. Call today for a brochure or visit us online for more photos! For more information, contact: Joel Metlen, Senior agent upon whom process against the Rose Auction Group, LLC Rob Storment Frank Edens Project Manager, Parks & Recreation, Division of LLC may be served. SSNY shall mail a 877-696-7653 Contents Auctioneer Broker, Auctioneer Revenue and Concessions, 830 Fifth Avenue, the copy of process to: 45 West 45th St. 6th Bid online at RoseAuctionGroup.com SuperAuctions.com MS Lic# 206 Fl, NY, NY 10036, which is also its princi- Beth Rose, CAI Auctioneer twolakesms.com Edens Auctions Arsenal-Central Park, Room 407, New York, NY 10065 or call (212) 360-1397 or download the Request for pal place of business. Purpose: Any Proposals document at www.nyc.gov/parks. You can Lawful Purpose. also email him at [email protected]. AUCTION COMMERCIAL Notice of Formation of Three Eyed Labs, TELECOMMUNICATION DEVICE FOR THE DEAF (TDD) LLC. Arts. of Org. filed with Secy. of State AUCTION 212-504-4115 of NY (SSNY) on 08/04/08. Office location: October 5th Notice of Qualification of Selectinvest New York County. Principal office of LLC: (2) 5-Acre Mattituck Estates 309 West 99th Street, #5C, New York, NY Surrounded By Vineyards & Protected Land MultiStrategy Enhanced LP. Authority filed 10025. SSNY designated as agent of LLC #1 3,600 S/F Home-Horse Lovers Dream PARKING with Secy. of State of NY (SSNY) on 5 Beds, 3.5 Baths, Suite w/Sep Ent 07/30/08. Office location: New York upon whom process against it may be #2 7,500 S/F Home-Thru Macari Winery County. LP formed in Delaware (DE) on served. SSNY shall mail process to: Brian 5 Beds, 5.5 Baths, 2,700 S/F Htd Garage 20-30,000 SQUARE FEET 07/09/08. Principal office of LP: 30 Chirls, 309 West 99th Street, #5C, New York, 516.349.7022 www.MaltzAuctions.com Rockefeller Plaza, Suite 2800, New York, NY 10025. Purpose: Any lawful activity. INDOOR GARAGE NY 10112. SSNY designated as agent of COMMERCIAL LP upon whom process against it may be Notice of Formation of Payal Arts served. SSNY shall mail process to: c/o International, LLC. Arts. of Org. filed with MIDTOWN MANHATTAN UBPAM (GP) LLC, Attn: David G. Logan, NY Dept. of State on 8/13/08. Office loca- 30 Rockefeller Plaza, Suite 2800, New tion: NY County. Sec. of State designated EAST 54TH ST York, NY 10112, registered agent upon as agent of LLC upon whom process whom process may be served. Arts. of against it may be served and shall mail Org. filed with Harriet Smith Windsor, process to: c/o Bharati Parekh, 10 E. Lee On Premise Gas Pump Secretary of State of the State of St., Unit 809, Baltimore, MD 21202. and Car Wash Facility DATA BANDWIDTH Delaware, Division of Corporations, John Purpose: any lawful activity. G. Townsend Bldg., Federal & Duke of York Streets, Dover, DE 19901. Purpose: MIRAVOS LLC, a domestic Limited Need More Bandwidth? To invest in and/or trade securities and/or Liability Company (LLC) filed with the Sec RETAIL SPACE Good for fleet car user other financial instruments. of State of NY on 7-7-08. NY Office loca- T-1/DS3/OCx/Ethernet - DIA/P2P tion: New York County. SSNY is designat- Prime Upper East Side Port pricing as low as $6/Mbps Notice of Qualification of STRS Ohio NY ed as agent upon whom process against Retail Space Available! Available for Real Estate Portfolio, LLC. Authority filed the LLC may be served. SSNY shall mail 1000 Square Feet long term lease Major Carriers. Limited Time. with Secy. of State of NY (SSNY) on a copy of any process against the LLC By Appt. only from building owner Call Yosef at 212-644-9000 x327 08/11/08. Office location: New York served upon him/her to Maud Maron/ the [not for public parking] County. LLC formed in Delaware (DE) on LLC, 682 Broadway, 8D, NY, NY 10012. 212.614.9380 / 917.921.5934 08/07/08. Principal office of LLC: 275 E. General purposes. Broad Street, Columbus, OH 43215. SSNY To place your classified ad call TELECOMUNICATIONS designated as agent of LLC upon whom Notice of Formation of Bayrock/Jackson (212) 575-5335 process against it may be served. SSNY Jamaica LLC. Arts. of Org. filed with Secy. John Gallagher @ 212-210-0189 shall mail process to c/o Corporation of State of N.Y. (SSNY) on 8/15/08. Office Service Company, 80 State Street, Albany, location: NY County. SSNY designated as NY 12207. Arts. of Org. filed with Delaware agent of LLC upon whom process against Secretary of State, Division of it may be served. SSNY shall mail process REQUEST FOR PROPOSALS Corporations, John G. Townsend Bldg, 401 to: c/o Bayrock Real Estate Partners LLC, Federal Street, Dover, DE 19901. Purpose: 725 Fifth Ave., 24th Fl., NY, NY 10022. Any lawful activity. Purpose: any lawful activity. REAL ESTATE PLANNING Notice of Qualification of SCOA Notice of Formation of 119 Development Residential, LLC. Authority filed with NY LLC. Arts. of Org. filed with Secy. of State AND CONSULTING SERVICES Dept. of State on 8/7/08. Office location: of NY (SSNY) on 5/29/2002. Office loca- NY County. Principal business addr.: 600 tion: NY County. SSNY designated as 3rd Ave., NY, NY 10016. LLC formed in DE agent of LLC upon whom process against REQUEST FOR PROPOSALS on 9/22/98. NY Sec. of State designated as it may be served. SSNY shall mail process agent of LLC upon whom process against to: The LLC, c/o K & R Realty PROJECT NO.: RE003-08 it may be served and shall mail process to: Management, Inc., 207 E. 94th St., NY, c/o CT Corporation System, 111 8th Ave., NY 10128. Term: until 12/31/2052. NY, NY 10011, regd. agt. upon whom Purpose: any lawful activity. On behalf of the City University Construction Fund (“CUCF”), the City University process may be served. DE addr. of LLC: of New York (“CUNY”) is seeking qualified consultants to provide a broad range 1209 Orange St., Wilmington, DE 19801. NOTICE OF FORMATION of Dalmatian of real estate planning and consulting services. The purpose of this Arts. of Org. filed with DE Sec. of State, Consulting Group, LLC. Arts. Of Org. filed Request for Proposals (“RFP”) is to select several consultants who may be Townsend Bldg., Dover, DE 19901. with Secy. Of State of N.Y. (SSNY) on retained and used on an as-needed basis to assist CUNY in all aspects of real Purpose: any lawful activity. 4/25/08. Office location: New York County. SSNY designated as agent of LLC upon estate planning and associated decision-making processes relating to acquisi- Name: JDY HOME, LLC Art. Of Org. Filed whom process against it may be served. tion, development, redevelopment, and disposition of property. This offering is Sec. Of State of NY 7/9/08. Off. Loc.: New SSNY shall mail process to principal busi- York Co. SSNY designated as agent upon not intended to be a selection of a Proposer for a specific project. Consultants ness location: 18 Stuyvesant Oval, #9A, whom process against it may be served. selected through this RFP process will enter into negotiations and sign NY, NY10009. Purpose: Any lawful activity. contracts with CUNY and be eligible for selection for Projects to be defined by PUBLIC & LEGAL SSNY to mail copy of process to THE LLC, 295 5th Avenue., Ste., NY, NY 10016. CUNY at a future date. A copy of the Request for Proposals that details the NOTICES Purpose: Any lawful act or activity. Project, minimum qualification requirements, submission requirements, and timeline may be downloaded at www.cuny.edu/realestateplanningrfp. Notice of Qualification of Exquisite Notice of Formation of 31 West 21st Street Prospective Proposers are invited to submit questions via email to Planning, LLC. Authority filed with NY Equities LLC. Arts. of Org. filed with Secy. To place your [email protected]. Cite this RFP’s Title & Project Number Dept. of State on 11/7/07. Office location: of State of NY (SSNY) on 07/23/08. Office NY County. LLC formed in DE on location: New York County. Principal busi- in the Subject heading of the email. All questions must be submitted by 3:00 10/31/07. NY Sec. of State designated as ness location: 55 Fifth Ave., 15th floor, classified ad call p.m. EDT on September 15, 2008. Proposals are due October 2, 2008 at 12:00 agent of LLC upon whom process against New York, NY 10003-4398. SSNY desig- p.m. MBE sub-contracting goal: 7.25%. WBE sub-contracting goal: 4.75%. it may be served and shall mail process to nated as agent of LLC upon whom the principal business address: 2306 process against it may be served. SSNY John Gallagher @ Dabis Ct., Edgewater, NJ 07020. DE addr. shall mail process to and registered agent of LLC: 615 S. Dupont Hwy., Dover, DE upon whom and at which process can be 19901. Arts. of Org. filed with DE Sec. of served is: Robert Kantor, 55 Fifth Avenue, 212-210-0189 www.crainsnewyork.com State, 401 Federal St., Dover, DE 19901. 15th Floor, New York, NY 10003-4398. Purpose: any lawful activity. Purpose: Any lawful activity.

36 | Crain’s New York Business | September 8, 2008 nb36p36-38cls.qxp 9/4/08 5:21 PM Page 37

PUBLIC & LEGAL NOTICES

Notice of Qualification of W2007 245 Fifth Notice of Qualification of Hirschfeld Notice of Qualification of CRESTVIEW NOTICE OF FORMATION OF LIMITED Notice of Qualification of Rockefeller Tax Mezz Seller, LLC. Authority filed with Properties LLC. Authority filed with NY OFFSHORE HOLDINGS II (CAYMAN), L.P. LIABILITY COMPANY. NAME: Exempt Income Fund - NY., L.P. Authority Secy. of State of NY (SSNY) on 6/23/08. Dept. of State on 7/14/08. NYS fictitious Authority filed with Secy. of State of NY NATHANIEL ALEXANDER VENTURE filed with Secy. of State of NY (SSNY) on Office location: NY County. Princ. bus. name: Hirschfeld Properties Development (SSNY) on 07/23/08. Office location: New PARTNERS, LLC. Articles of Organization 5/29/08. Office location: NY County. LP loc.: 85 Broad St., NY, NY 10004. LLC LLC. Office location: NY County. LLC York County. LP formed in Cayman Islands were filed with the Secretary of State of formed in Delaware (DE) on 1/29/88. formed in Delaware (DE) on 2/29/08. formed in CT on 2/6/98. NY Sec. of State on 10/26/07. SSNY designated as agent of New York (SSNY) on 06/16/08. The latest SSNY designated as agent of LP upon SSNY designated as agent of LLC upon designated as agent of LLC upon whom LP upon whom process against it may be date of dissolution is 06/10/2043. Office whom process against it may be served. whom process against it may be served. process against it may be served and served. SSNY shall mail process to: c/o CT location: New York County. SSNY has SSNY shall mail process to: c/o SSNY shall mail process to: c/o CT shall mail process to: CT Corporation Corporation System, 111 Eighth Avenue, been designated as agent of the LLC upon Rockefeller & Co., 30 Rockefeller Plaza, Corporation System, 111 8th Ave., 13th System, 111 8th Ave., NY, NY 10011, New York, NY 10011, registered agent whom process against it may be served. NY, NY 10112. DE address of LP: c/o Fl., NY, NY 10011. DE address of LLC: c/o regd. agt. upon whom process may be upon whom process may be served. Arts. SSNY shall mail a copy of process to the Corporation Trust Center, 1209 Orange The Corporation Trust Co., 1209 Orange served. CT and principal business addr.: of Org. filed with Registrar of Exempted LLC, c/o Alan J. Harris, P.C., 427 Manville St., Wilmington, DE 19801. Name/address St., Wilmington, DE 19801. Arts. of Org. 1030 New Britain Ave., West Hartford, CT Limited Partnerships, Ground Floor, Citrus Road, Pleasantville, New York 10570. of genl. ptr. available from SSNY. Cert. of filed with DE Secy. of State, 401 Federal 06110. Arts. of Org. filed with CT Sec. of Grove Building, Goring Avenue, George Purpose: For any lawful purpose. LP filed with DE Secy. of State, 401 St., Ste. 4, Dover, DE 19901. Purpose: State, 30 Trinity St., Hartford, CT 06115. Town, Grand Cayman, Cayman Islands. Federal St., Ste. 3, Dover, DE 19901. any lawful activity. Purpose: any lawful activity. Purpose: Any lawful activity. Notice of Formation of J.K. AGENCY LLC. Purpose: any lawful activities Arts. of Org. filed with Secy. of State of NOTICE OF QUALIFICATION OF 65TH F & F 88 LLC, a domestic Limited Liability Notice of Qualification of Rockefeller & N.Y. (SSNY) on 4/18/08. Office location: Notice of Formation of Devil’s Playground, PLACE, LLC. Application for Authority Company (LLC) filed with the Sec of State Co. U.S. Small Capitalization Fund, L.P. NY County. SSNY designated as agent of LLC. Arts Of Org. filed with Secy. of State filed with the Secretary of State of New of NY on 3-20-08. NY Office location: New Authority filed with Secy. of State of NY LLC upon whom process against it may N.Y. (SSNY) on 07/11/2008. Office loca- York on June 12, 2008. N.Y. Office York County. SSNY is designated as (SSNY) on 5/29/08. Office location: NY tion: New York County. SSNY designated Location: New York County. LLC formed be served. SSNY shall mail process to: agent upon whom process against the County. LP formed in Delaware (DE) on as agent of LLC upon whom process in Nevada on April 8, 2008. SSNY has Jeffrey Spielsinger, 226 W. 47th St., 3rd LLC may be served. SSNY shall mail a 3/28/1994. SSNY designated as agent of against it may be served. SSNY shall mail been designated as agent of LLC upon Fl., NY, NY 10036. Purpose: any lawful copy of any process against the LLC LP upon whom process against it may be process to:c/o Cohen & Sprung, LLC, process against it may be served. The activity. served upon him/her to Frederic Kantor & served. SSNY shall mail process to: c/o 1250 Union Turnpike, New Hyde Park, NY P.O. address to which the SSNY shall mail Co., P.C., 45 W. 36th St., 7th Fl., NY, NY Rockefeller & Co., 30 Rockefeller Plaza, Notice of Formation of RT BOOKS LLC. 11040. Purpose: any lawful activity. a copy of any process against the LLC 10018. General purposes. NY, NY 10112. DE address of LP: c/o Arts. of Org. filed with Secy. of State of served upon him is C/O the LLC: Corporation Trust Center, 1209 Orange N.Y. (SSNY) on 5/13/08. Office location: Notice of Formation of The Artifice Group Salvatore Favia; 6933 Exeter Street, Forest Notice of Qualification of BRULANT, LLC. St., Wilmington, DE 19801. Name/address NY County. SSNY designated as agent of LLC. Arts. of Org. filed with NY Dept. of Hills, NY 11375. A copy of the Articles of Authority filed with Secy. of State of NY of genl. ptr. available from SSNY. Cert. of LLC upon whom process against it may State on 5/12/08. Office location: NY Organization with all amendments thereto (SSNY) on 7/15/08. Office location: NY LP filed with DE Secy. of State, 401 be served. SSNY shall mail process to: County. Sec. of State designated as agent shall be provided upon request. Such County. LLC formed in Delaware (DE) on Federal St., Ste. 3, Dover, DE 19901. The LLC, c/o Maurice Kassimir & Assoc., of LLC upon whom process against it may request should be sent to Salvatore Favia 6/12/08. SSNY designated as agent of Purpose: any lawful activities. 1065 Ave. of the Americas, 10th Fl., NY, be served and shall mail process to the at the above address. The Principal LLC upon whom process against it may NY 10018. Purpose: any lawful activity. principal business address: 236 E. 13th St., be served. SSNY shall mail process to Business Address of the LLC is: 1645 Notice of Qualification of 73-77 West #25, NY, NY 10003. Purpose: any lawful princ. bus. loc.: c/o Rosetta LLC, 100 Village Center Circle, Ste. 170, Las Vegas, 132nd Street Holdings, LLC. Authority NOTICE OF FORMATION of Micro Office purpose. American Metro Blvd., Ste. 201, Hamilton, NV 89134. Purpose of LLC: Real Estate. filed with NY Dept. of State on 8/12/08. Solutions 4 LLC. Arts. Of Org. filed with NJ 08609, Attn: Kurt Holstein. DE address NOTICE OF FORMATION OF REGISTERED Office location: NY County. Principal busi- Secy. Of State of N.Y. (SSNY) on 5/8/06. Notice of Formation of Creare, LLC. Arts. of LLC: 2711 Centerville Rd., Ste. 400, LIMITED LIABILITY PARTNERSHIP. ness addr.: 110 E. 59th St., 20th Fl., NY, Office location: New York County. SSNY of Org. filed with Secy. of State of N.Y. Wilmington, DE 19808. Arts. of Org. filed NAME: DICKLER AND ROTH, LLP. NY 10022. LLC formed in DE on 8/7/08. designated as agent of LLC upon whom (SSNY) on June 19, 2008. Office location: with DE Secy. of State, Loockerman & Certificate of Registration was filed with NY Sec. of State designated as agent of process against it may be served. SSNY New York County. SSNY designated as Federal Sts., Dover, DE 19901. Purpose: the Secretary of State of New York LLC upon whom process against it may shall mail process to: 122 West 27th Street, agent of LLC upon whom process against any lawful activity. (SSNY) on 08/01/08. Office location: New be served and shall mail process to: CT 10th Fl., NY, NY 10001. Principal business it may be served. SSNY shall mail process York County. SSNY has been designated Corporation System, 111 8th Ave., NY, NY location: 122 West 27th Street, 10th Fl., NY, to: The LLC, Rottenberg Lipman Rich, NOTICE OF FORMATION OF LIMITED LIA- as agent of the LLP upon whom process 10011, regd. agt. upon whom process NY 10001. Purpose: Any lawful activity. P.C., 369 Lexington Avenue, New York, NY BILITY COMPANY. NAME: LAND ZONE against it may be served. SSNY shall mail may be served. DE addr. of LLC: 1209 10017. Purpose: any lawful activity. LLC. Articles of Organization were filed a copy of process to the LLP, 19 Fulton Orange St., Wilmington, DE 19801. Arts. Notice of Formation of SSDS, LLC. Arts. of with the Secretary of State of New York Street, Suite 402, New York, New York of Org. filed with DE Sec. of State, 401 Org. filed with Secy. of State of N.Y. (SSNY) Notice of Qualification of CWCapital EY (SSNY) on 08/20/08. Office location: New 10038, which is also the location of the Federal St., Dover, DE 19901. Purpose: on June 10, 2008. Office location: New REIT UBS LLC. Authority filed with Secy. York County. SSNY has been designated partnership. Purpose: For the practice of any lawful activity. York County. SSNY designated as agent of of State of NY (SSNY) on 07/23/08. Office as agent of the LLC upon whom process the profession of Law. LLC upon whom process against it may be location: New York County. LLC formed in against it may be served. SSNY shall mail Notice of Qualification of Goldman Sachs served. SSNY shall mail process to: The Delaware (DE) on 05/05/08. SSNY desig- a copy of process to the LLC, c/o Berliner NOTICE OF QUALIFICATION OF 1870 Real Estate Mezzanine Partners PMD ESC LLC, 225 East 57th Street, #4A, New York, nated as agent of LLC upon whom process & Pilson, Esqs., 80 Cutter Mill Road, Suite MADISON LLC. Application for Authority Fund, L.P. Authority filed with Secy. of NY 10022. Purpose: any lawful activity . against it may be served. SSNY shall mail 411, Great Neck, New York 11021. filed with the Secretary of State of New State of N.Y. (SSNY) on 7/17/08. Office process to: c/o Corporation Service Purpose: For any lawful purpose. York on June 12, 2008. N.Y. Office location: NY County. LP formed in Notice of Formation of Pure Element Company, 80 State Street, Albany, NY Location: New York County. LLC formed Delaware (DE) on 6/2/08. SSNY designat- Apparel LLC, Art. of Org. filed Sec’y of 12207, registered agent upon whom Notice of Formation of 362 Casanova in Nevada on July 16, 2007. SSNY has ed as agent of LP upon whom process State (SSNY) 6/18/08. Office location: NY process may be served. Principal office of Street, LLC. Arts. of Org. filed with Secy. been designated as agent of LLC upon against it may be served. SSNY shall mail County. SSNY designated as agent of LLC LLC: 1540 Broadway, 23rd Floor, New of State of NY (SSNY) on 7/16/08. Office process against it may be served. The process to: 85 Broad St., NY, NY 10004. upon whom process against it may be York, NY 10036. Arts. of Org. filed with location: NY Co. SSNY designated as P.O. address to which the SSNY shall mail DE address of LP: 1209 Orange St., served. SSNY shall mail copy of process SOS, DE, Division of Corporations, John agent of LLC upon whom process against a copy of any process against the LLC Wilmington, DE 19801. Name/address of to 32 W. 33rd St., NY, NY 10001. G. Townsend Bldg., 401 Federal Street, it may be served. SSNY shall mail process served upon him is C/O the LLC: each genl. ptr. available from SSNY. Cert. Purpose: any lawful activities. Suite 4, Dover, DE 19901. Purpose: Any to: The LLC, 1536 Third Ave., 3rd Fl., NY, Salvatore Favia; 6933 Exeter Street, Forest of LP filed with DE Secy. of State, P.O. lawful activity. NY 10028. Purpose: any lawful activities. Hills, NY 11375. A copy of the Articles of Box 898, Dover, DE 19903. Purpose: any Notice of Formation of TERZETTO LLC, a Organization with all amendments thereto lawful activity. domestic LLC. Arts. of Org. filed with the Notice of Qualification of GS Mount Kellett shall be provided upon request. Such SSNY on 04/25/08. Office location: NY Capital Partners Access Fund, L.P. request should be sent to Salvatore Favia Notice of Qualification of CRESTVIEW County. SSNY has been designated as Authority filed with Secy. of State of N.Y. Coming Up at the above address. The Principal PARTNERS II (FF CAYMAN), L.P. Authority agent upon whom process against the (SSNY) on 7/25/08. Office location: NY Business Address of the LLC is: 1645 filed with Secy. of State of NY (SSNY) on LLC may be served. SSNY shall mail a County. LP formed in Delaware (DE) on on the Calendar Village Center Circle, Ste. 170, Las Vegas, 07/24/08. Office location: New York copy of process to: 1627 Broadway, NY, 7/17/08. SSNY designated as agent of LP NV 89134. Purpose of LLC: Real Estate. County. LP formed in Cayman Islands on NY 10019. Purpose: Any Lawful Purpose. upon whom process against it may be 11/08/07. SSNY designated as agent of LP September 15th served. SSNY shall mail process to: 85 Notice of Formation of Elmer Smathers, upon whom process against it may be Notice of Formation of FIFTH ON THE Broad St., NY, NY 10004. DE address of LLC. Arts. of Org. filed with NY Dept. of served. SSNY shall mail process to: c/o CT PARK LLC. Arts. of Org. filed with Secy. of Real Estate LP: 2711 Centerville Rd., Ste. 400, State on 7/25/08. Office location: NY Corporation System, 111 Eighth Avenue, Wilmington, DE 19808. Name/address of State of N.Y. (SSNY) on 6/10/04. Office County. Principal business addr.: c/o New York, NY 10011, registered agent location: NY County. SSNY designated as September 22nd each genl. ptr. available from SSNY. Cert. Sarah G. Rubin, JPMorgan Chase Bank, upon whom process may be served. Arts. of LP filed with DE Secy. of State, agent of LLC upon whom process against Executive Travel N.A., 345 Park Ave., NY, NY 10154. Sec. of Org. filed with Registrar of Exempted it may be served. SSNY shall mail process Townsend Bldg., Dover, DE 19901. of State designated as agent of LLC upon Limited Partnerships, Ground Floor, Citrus to: 37 W. 65th St., 2nd Fl., NY, NY 10023. Purpose: any lawful activity. whom process against it may be served Grove Building, Goring Avenue, George Purpose: any lawful activity. September 29th and shall mail process to: CT Corporation Town, Grand Cayman, Cayman Islands. Notice of Qualification of The Wylie System, 111 8th Ave., NY, NY 10011. Purpose: Any lawful activity. New Influentials Agency LLC. Authority filed with Secy. of Character: Investment, real estate devel- Name of Foreign LLC: UHURU CAPITAL State of NY (SSNY) on 07/21/08. Office opment and oil and gas development. Notice of Qualification of Blackstone MANAGEMENT LLC. App. for Auth. filed October 6th location: New York County. LLC formed in Management Associates VI L.L.C. NY Dept. of State: 5/8/08. Jurisd. and date Delaware (DE) on 07/09/08. LLC agrees Notice of Qualification of CRESTVIEW OFF- Authority filed with NY Dept. of State on of org.: DE 3/12/08. County off. loc.: New Real Estate to use fictitious name of Andrew Wylie SHORE HOLDINGS II (FF CAYMAN), L.P. 5/2/08. Office location: NY County. LLC York County. Princ. bus. loc.: 1350 LLC while conducting business in NY. Authority filed with Secy. of State of NY formed in DE on 12/18/07. NY Sec. of Avenue of the Americas, New York, NY October 13th SSNY designated as agent of LLC upon (SSNY) on 07/23/08. Office location: New State designated as agent of LLC upon 10019. Sec. of State designated as agent whom process against it may be served. York County. LP formed in Cayman Islands whom process against it may be served of foreign LLC upon whom process Small Business SSNY shall mail process to: c/o on 11/08/07. SSNY designated as agent of and shall mail process to the principal against it may be served. The Sec. of Corporation Service Company, 80 State LP upon whom process against it may be business address of the LLC: c/o The State shall mail copy of process to: 10 Street, Albany, NY 12207, registered served. SSNY shall mail process to: c/o CT Blackstone Group, 345 Park Ave., NY, NY East 40th Street, 10th Floor, New York, NY agent upon whom process may be Corporation System, 111 Eighth Avenue, 10154. Regd. agt. upon whom process 10016, Attn: National Corporate Research, Call John Gallagher served. Principal office of LLC: 250 West New York, NY 10011, registered agent may be served: CT Corporation System, Ltd. Addr. of foreign LLC in DE is: 615 57th Street, Suite 2114, New York, NY upon whom process may be served. Arts. 111 8th Ave., NY, NY 10011. DE addr. of South DuPont Hwy., Dover, DE 19901. @ 212-210-0189 10107. Arts. of Org. filed with Secretary of Org. filed with Registrar of Exempted LLC: c/o The Corporation Trust Co., 1209 Auth. officer in DE where Cert. of Form. of State of Delaware, Division of Limited Partnerships, Ground Floor, Citrus Orange St., Wilmington, DE 19801. Arts. filed: Harriet Smith Windsor, Sec. of State, to place your classified Corporations, John G. Townsend Bldg., Grove Building, Goring Avenue, George of Org. filed with DE Sec. of State, Div. of Corporations, John G. Townsend advertisement today 401 Federal Street, Dover, DE 19901. Town, Grand Cayman, Cayman Islands. Townsend Bldg., Dover, DE 19901. Bldg., 401 Federal Street, Suite 4, Dover, Purpose: Any lawful activity Purpose: Any lawful activity. Purpose: any lawful activity. DE 19901. Purpose: any lawful activity.

September 8, 2008 | Crain’s New York Business | 37 nb36p36-38cls.qxp 9/4/08 3:07 PM Page 38

PUBLIC & LEGAL NOTICES

Notice of Qualification of Whitehall Street Notice of Qualification of Getty Images Notice of Qualification of Whitehall Street Notice of Qualification of Whitehall Street Notice of Qualification of CWCI Enhanced International PMD ESC Fund 2008, L.P. Luxembourg S.a r.l. Authority filed with International REPIA Japan Fund 2008, L.P. International PMD ESC Japan Fund 2008, Yield GP LLC. Authority filed with Secy. of Authority filed with Secy. of State of N.Y. NY Dept. of State on 7/30/08. Office loca- Authority filed with Secy. of State of N.Y. L.P. Authority filed with Secy. of State of State of NY (SSNY) on 07/24/08. Office (SSNY) on 7/9/08. Office location: NY tion: NY County. LLC formed in The Grand (SSNY) on 7/9/08. Office location: NY N.Y. (SSNY) on 7/10/08. Office location: location: New York County. LLC formed in County. LP formed in Cayman Islands (CI) Duchy of Luxembourg on 6/20/08. NY County. LP formed in Cayman Islands (CI) NY County. LP formed in Cayman Islands Delaware (DE) on 12/01/06. SSNY desig- on 3/14/08. SSNY designated as agent of Sec. of State designated as agent of LLC on 3/14/08. SSNY designated as agent of (CI) on 3/14/08. SSNY designated as nated as agent of LLC upon whom LP upon whom process against it may be upon whom process against it may be LP upon whom process against it may be agent of LP upon whom process against it process against it may be served. SSNY served. SSNY shall mail process to: 85 served and shall mail process to: CT served. SSNY shall mail process to: 85 may be served. SSNY shall mail process shall mail process to: c/o Corporation Broad St., NY, NY 10004. DE address of Corporation System, 111 8th Ave., NY, NY Broad St., NY, NY 10004. DE address of to: 85 Broad St., NY, NY 10004. DE Service Company, 80 State Street, Albany, LP: Maples Corporate Services Limited, 10011, regd. agt. upon whom process LP: Maples Corporate Services Limited, address of LP: Maples Corporate Services NY 12207, registered agent upon whom P.O. Box 309, Ugland House, Grand may be served. Luxembourg addr. of LLC: P.O. Box 309, Ugland House, Grand Limited, P.O. Box 309, Ugland House, process may be served. Principal office of Cayman, KY1-1104, CI. Name/address of 8-10 rue Mathias Hardt, L-1030 Cayman, KY1-1104, CI. Name/address of Grand Cayman, KY1-1104, CI. LLC: One Charles River Place , 63 each genl. ptr. available from SSNY. Cert. Luxembourg, Grand Duchy of each genl. ptr. available from SSNY. Cert. Name/address of each genl. ptr. available Kendrick Street, Needham, MA 02494. of LP filed with Registrar of Exempted Luxembourg. Arts. of Org. filed with Trade of LP filed with Registrar of Exempted from SSNY. Cert. of LP filed with Registrar Arts. of Org. filed with SOS, DE, Division LPs, Elizabethan Sq., 4th Fl., Phase Four, and Companies Registrar, Centre adminis- LPs, Elizabethan Sq., 4th Fl., Phase Four, of Exempted LPs, Elizabethan Sq., 4th Fl., of Corporations, John G. Townsend Bldg., George Town, Grand Cayman, CI. tratif Pierre Werner, Batiment F, 13, rue George Town, Grand Cayman, CI. Purpose: Phase Four, George Town, Grand Cayman, 401 Federal Street, Suite 4, Dover, DE Purpose: any lawful activity. Erasme, Luxembourg-Kirchberg, any lawful activity. CI. Purpose: any lawful activity. 19901. Purpose: Any lawful activity. Luxembourg. Purpose: any lawful activity. Notice of Qualification of KG Funds NOTICE OF FORMATION OF LIMITED LIA- NOTICE OF FORMATION OF ATG Holdings Notice of Qualification of AG Asia Special Managing Member LLC. Authority filed Notice of Qualification of CRESTVIEW BILITY COMPANY. NAME: E & M MEDIA LLC. Article of Organization filed with the Situations Employee Investment Program, with Secy. of State of N.Y. (SSNY) on PARTNERS II (CAYMAN), L.P. Authority HOLDINGS, LLC. Articles of Organization Secretary of State of NY (SSNY) on April L.P. Authority filed with Secy. of State of 7/24/08. Office location: NY County. LLC filed with Secy. of State of NY (SSNY) on were filed with the Secretary of State of 9, 2008 Office location NEW YORK NY (SSNY) on 08/22/08. Office location: formed in Delaware (DE) on 6/18/08. 07/02/08. Office location: New York New York (SSNY) on 08/06/08. Office County. SSNY has been designated as New York County. LP formed in Delaware SSNY designated as agent of LLC upon County. LP formed in Cayman Islands on location: New York County. SSNY has agent upon whom process against it may (DE) on 05/16/08. SSNY designated as whom process against it may be served. 10/26/07. SSNY designated as agent of been designated as agent of the LLC upon be served. The Post Office address to agent of LP upon whom process against it SSNY shall mail process to princ. bus. LP upon whom process against it may be whom process against it may be served. which the SSNY shall mail a copy of any may be served. SSNY shall mail process to loc.: The LLC, c/o Kier Global LLC, 1775 served. SSNY shall mail process to: c/o SSNY shall mail a copy of process to the process against the LLC served upon c/o Corporation Service Company, 80 State Broadway, Ste. 604, NY, NY 10019, Attn: M&C Corporate Services Limited, P.O. LLC, c/o Michael Medico, c/o Impart him/her is C/O the LLC 350 west 42nd Street, Albany, NY 12207, registered agent Isaac Kier. DE address of LLC: c/o United Box 309GT, Ugland House, South Church Media Advertising, 462 7th Avenue, 8th Street apt 7-G. New York, NY 10036. upon whom and at which process may be Corporate Services, Inc., 874 Walker Street, George Town, Grand Cayman, Floor, New York, New York 10018. Purpose of LLC: to engage in any lawful served. Arts. of Org. filed with Secretary Road, Ste. C, Dover, DE 19904. Cert. of Cayman Islands, registered agent upon Purpose: For any lawful purpose. act or activity. Street address of Principal of State of Delaware, Department of Form. filed with DE Secy. of State, 401 whom process may be served. Arts. of Business location is: 350 West 42nd State, Division of Corporations, John Federal St., Dover, DE 19901. Purpose: Org. filed with Registrar of Exempted Notice of Qualification of JPMorgan U.S. Street apt 7-G. New York, NY 10036. Townsend Building, Dover, DE 19901. any lawful activity. Limited Partnerships, Ground Floor, Citrus Direct Corporate Finance Institutional Purpose: Any lawful activity. Grove Building, Goring Avenue, George Investors IV LLC. Authority filed with Notice of Qualification of ELITE TIME Notice of Qualification of CWCI Enhanced Town, Grand Cayman, Cayman Islands. Secy. of State of NY (SSNY) on 7/9/08. LEASING LLC. Authority filed with Secy. of Notice of Qualification of SOUND POINT Yield Capital Partners LLC. Authority filed Purpose: Any lawful activity. Office location: NY County. Princ. bus. State of NY (SSNY) on 04/14/08. Office OPPORTUNITIES GP, LLC. Authority filed with Secy. of State of NY (SSNY) on loc.: c/o Proskauer Rose LLP, 1585 location: New York County. LLC formed in with Secy. of State of NY (SSNY) on 07/24/08. Office location: New York Notice of Qualification of Maximus Broadway, Rm 23-78, NY, NY 10036. LLC Delaware (DE) on 03/27/07. Principal office 08/20/08. Office location: New York County. LLC formed in Delaware (DE) on Multimedia International LLC. Authority formed in Delaware (DE) on 4/21/08. of LLC: 801 Second Ave., NY, NY 10017. County. LLC formed in Delaware (DE) on 12/01/06. SSNY designated as agent of filed with NY Dept. of State on 8/19/08. SSNY designated as agent of LLC upon SSNY designated as agent of LLC upon 07/31/08. Principal office of LLC: 623 LLC upon whom process against it may Office location: NY County. LLC formed in whom process against it may be served. whom process against it may be served. Fifth Avenue, New York, NY 10022. SSNY be served. SSNY shall mail process to: NV on 4/23/08. NY Sec. of State designat- SSNY shall mail process to: c/o SSNY shall mail process to: c/o The LLC, designated as agent of LLC upon whom c/o Corporation Service Company, 80 ed as agent of LLC upon whom process Corporation Service Company (CSC), 80 Attention: David Bernstein, 801 Second process against it may be served. SSNY State Street, Albany, NY 12207, registered against it may be served and shall mail State St., Albany, NY 12207. DE address Avenue, New York, NY 10017. Cert. Of shall mail process to Stephen J. Ketchum, agent upon whom process may be process to: c/o CT Corporation System, of LLC: c/o CSC, 2711 Centerville Rd., Change filed with SSNY on 5/2/08 chang- 623 Fifth Avenue, New York, NY 10022. served. Principal office of LLC: One 111 8th Ave., NY, NY 10011, regd. agt. Ste. 400, Wilmington, DE 19808. Cert. of ing name to Horluxe LLC. Arts. of Org. filed Arts. of Org. filed with Delaware Secretary Charles River Place , 63 Kendrick Street, upon whom process may be served. Form. filed with DE Secy. of State, with Secretary of State of Delaware, 401 of State, Corporations Division, First and Needham, MA 02494. Arts. of Org. filed Principal office addr.: 1520 W. Altorfer Dr., Townsend Bldg., Dover, DE 19901. Federal Street, Suite 4, Dover, DE 19901. Federal Street, Wilmington, DE 19801. with SOS, DE, Division of Corporations, Peoria, IL 61615. Arts. of Org. filed with Purpose: any lawful activity. Purpose: Any lawful activity. Purpose: Any lawful activity. John G. Townsend Bldg., 401 Federal NV Sec. of State, 202 N. Carson St., Street, Suite 4, Dover, DE 19901. Carson City, NV. Purpose: any lawful activity. Lincoln Center Development Project, Inc. Advertisement for Bid 09/08/08 Purpose: Any lawful activity. Notice of Formation of SOUTH BEDFORD Sealed bids for Lincoln - Center Redevelopment. Package 6B - 65th Street Transportation Improvement Project (TIP) will be received by Notice of Qualification of 46th Street ORAL & MAXILLOFACIAL SURGERY the Turner Construction Company, 375 Hudson Street - 6th Floor, New York, New York, 10014, on behalf of Lincoln Center Development Platinum Holding Company, L.L.C. PLLC, a Professional LLC. Arts. of Org. Project, Inc. on November 7, 2008. Sealed bids will be publicly opened and read. Each bid must be prepared and submitted in accordance Authority filed with Secy. of State of NY filed with the SSNY on 05/16/08. Office with the Instructions to Bidders and must be accompanied by a bid bond in the amount of 5% of the bid value. (SSNY) on 07/17/08. Office location: New location: NY County, the county was Package 6B 65th Street TIP proposes to narrow the West 65th Street roadway, widen the sidewalks along with related lighting, traffic sig- York County. LLC formed in Delaware (DE) amended to Westchester on 08/25/08. nals, tree planting and utility work. on 07/15/08. SSNY designated as agent of SSNY has been designated as agent upon Prospective Bidders are advised of the following Bid Packages: LLC upon whom process against it may be whom process against it may be served. Bid Package # 6B - General Site Construction SSNY shall mail a copy of process to: served. SSNY shall mail process to: c/o The scope of work includes: demolition of sidewalks and roadway pavement, existing trees removal, construction of new sidewalks and SJP Properties, Morris Corporate Center Jason Baker, 81 Pheasant Run, Millwood, NY 10546. Purpose: To Practice The associated finishes, reconstruction of roadway, new footings for “Video” blades, relocation of catch basins and hydrants, new benches, trees IV, 379 Interspace Parkway, Parsippany, NJ with associated growing medium and elements, street signals, as well as maintenance and protection of traffic. 07054, registered agent upon whom Profession Of Dentistry. Anticipated cost: between and $3.6 M. and $ 4.4 M process may be served. Principal office of LLC: 379 Corporate Center IV, Parsippany, Notice of Formation of CKE2, LLC. Arts. of Bid Package # 6B - Electrical NJ 07054. Arts. of Org. filed with Secretary Org. filed with Secy. of State of NY (SSNY) The scope of work includes: demolition of existing and installation of new exterior street lighting fixtures and associated power, bench of State, State of Delaware, Division of on 7/8/08. Office location: NY County. lighting and power, demolition of existing and installation of new traffic signals, “Video” blades power and telecommunication conduits. Corporations, John G. Townsend Building, SSNY designated as agent of LLC upon Anticipated cost: between and $ 600 K and $ 800 K 401 Federal Street, Dover, DE 19901. whom process against it may be served. This project involves phasing and logistical considerations dictated by a fully operational performing arts campus, thus work procedures Purpose: Any lawful activity. SSNY shall mail process to: Corporation will be governed by the Rules and Regulations and supplementary general conditions included in the bidding documents. Service Company, 80 State St., Albany, The project schedule is February, 2009 through March, 2010. Notice of Formation of Synergy Dental NY 12207. Purpose: any lawful activity. Management, LLC. Arts. of Org. filed with All successful bidders will be required to provide a performance bond in the amount of 100% of the bid value and a payment bond as follows: (1) 50% of the contract price if the contract price is not more than $1,000,000 Secy. of State of NY (SSNY) on 08/19/08. REDBRICK VENTURES LLC Articles of Office location: New York County. Org. filed NY Sec. of State (SSNY) (2) 40% of the contract price if the contract price is more than $1,000,000 but not more than $5,000,000. Principal office of LLC: 18 East 50th 7/30/08. Office in NY Co. SSNY desig. (3) $2,500,000 if the contract price is more than $5,000,000 Street, 8th Floor, New York, NY 10022. agent of LLC upon whom process may be This Contract is subject to the Federal Transit Administration (FTA) requirements, including the Disadvantaged Business Enterprise (DBE) SSNY designated as agent of LLC upon served. SSNY shall mail copy of process requirements. DBE goal is 11%. whom process against it may be served. to 244 Madison Ave., NY, NY 10016, Interested bidders are strongly encouraged to submit Vendex applications to the Mayors Office of Contracts as Vendex is a contract requirement. SSNY shall mail process to the LLC at the which is also the principal business loca- There will be an optional Site Walk through and a Pre-Bid Conference, suggested but not mandatory, for all interested bidders to be held at address of its principal office. Purpose: tion. Purpose: Any lawful purpose. the field offices of Turner Construction, 175 West 62nd Street (Damrosch Park), New York, NY 10023 on October 06, 2008 from 1:30 pm Any lawful activity. to 3:00 p.m. Notice of Qualification of CWCapital EY Bid documents will be available beginning on September 29, 2008 at: Notice of Qualification of Central Park REIT Greenwich LLC. Authority filed with BPI Reprographics Group Lighthouse Global Long/Short Secy. of State of NY (SSNY) on 07/23/08. Fund, LLC. Authority filed with Secy. of Office location: New York County. LLC 11 Broadway, New York, New York 10004 State of N.Y. (SSNY) on 8/6/08. Office formed in Delaware (DE) on 12/04/07. Phone: 212-514-8010 location: NY County. LLC formed in SSNY designated as agent of LLC upon Fax: 212-514-8038 Delaware (DE) on 7/21/08. SSNY desig- whom process against it may be served. Attention: Irwin Sherman nated as agent of LLC upon whom SSNY shall mail process to: c/o Please call to place an order before pickup. The cost of the bid documents is $75.00 and is refundable in accordance with instructions process against it may be served. SSNY Corporation Service Company, 80 State included in the bid documents. shall mail process to: c/o Ruth Goodstein, Street, Albany, NY 12207, registered agent Bid Requests for Information (RFIs) shall be submitted in writing prior to the end of business on October 20, 2008 to: 12 E. 49th St., 14th Fl., NY, NY 10017. DE upon whom process may be served. Turner Construction Company address of LLC: National Corporate Principal office of LLC: 1540 Broadway, Research, Ltd., 615 South DuPont Hwy., 23rd Floor, New York, NY 10036. Arts. of 375 Hudson Street, 6th floor Dover, DE 19901. Cert. of Form. filed with Org. filed with SOS, DE, Division of New York, NY 10014 DE Secy. of State, Loockerman & Federal Corporations, John G. Townsend Bldg., Attn: Keith Finerty St., Dover, DE 19901. Purpose: any lawful 401 Federal Street, Suite 4, Dover, DE [email protected] activity. 19901. Purpose: Any lawful activity. For Assistance pertaining to this Advertisement, contact Alden Maragoto at 212-229-6457.

38 | Crain’s New York Business | September 8, 2008 CNYB 09-08-08 A 39 9/4/2008 5:49 PM Page 1

BUSINESS CORPORATE LADDER Steven Madden’s new chief has big shoes to fill PAGE 41 buck ennis

GOTHAM GIGS Caring concerts last november, JORDAN BELKIN, 30, founded Stand Up for a Cure in an attempt to bridge his interests in music and health care. As executive director of the nonprofit, he produces shows with major acts for private events to raise funds for cancer research. INSPIRATION After working briefly in entertainment, the Brooklyn native spent time as an oncology nurse at Memorial Sloan-Kettering Cancer Center.“The treatment and research was extremely underfunded,” he says. RUNNING START In October 2007, he organized a comedy show featuring Jerry Seinfeld, which raised more than $500,000 for the hospital’s lung cancer department. A month later, Stand Up for a Cure was born.To date, it has raised more than $2 million through a Bon Jovi concert and other performances. VIP This Wednesday, he produces a benefit concert by the Dave Matthews Band, PATTY HUGHES, volunteer coordinator, hosted by Julia Roberts at looked on as tents went Madison Square Garden. up for Fashion Week. Next year, Mr. Belkin hopes to book venues in other cities, and snag performers including Barry Manilow and Justin Timberlake. —sarah studley buck ennis

EXPERT OPINIONS BY ADRIANNE PASQUARELLI BACKPACK TO SCHOOL or most, September marks an end to summer’s there are a number of Putting carefree reprieve of beach weather and relaxed things to consider. First of all, vacations. For Alycia Randise, a 26-year-old Brooklyn you want to buy a kid’s resident who spends the year working behind the backpack, because kids’ backpacks are sized counter at Kiehl’s pharmacy, September marks her on the return to the glitz and glamour of Mercedes-Benz appropriately and will distribute weight better. It’s Fashion Week. best to buy something sturdy For the last five years, Ms. Randise has helped out and avoid the sling style. You behind the scenes at Bryant Park, at the shows of want two straps, and you glitz want them to be as wide popular designers including Betsey Johnson and Carolina Herrera. Initially as possible. For a smaller Nearly 1,000 fashionistas recruited by a cousin who is an alumnus of the Laboratory Institute of child, the wheeled FMerchandising, Ms. Randise now uses her vacation time to help monitor backpacks are great. pitch in for big event the press check-in desk for eight to 10 shows See FASHIONISTAS on Page 40 It’s also good to pick something the kid will be excited to carry. FASHION —alanna stang WEEK FACTS Executive editor AND FIGURES EXPECTED$233M HAUL IN DIRECT $391MEXPECTED TOTAL 116,000EXPECTED NUMBER Cookie Magazine Source: New York City Economic Development Corp. VISITOR SPENDING ECONOMIC IMPACT OF ATTENDEES istockphoto

September 8, 2008 | Crain’s New York Business | 39 CNYB 09-08-08 A 40 9/4/2008 5:51 PM Page 1

BUSINESS LIVES Fashionistas put on the glitz RUNWAY NEWCOMERS NEW DESIGNERS MAKING their runway debuts are hot Continued from Page 39 fore that year’s week of shows had favorite designer. commodities at this year’s shows, running Sept. 5 through during the week. finished, Fashion Week’s produc- A few years ago, one of Ms. Sept. 12. SoHo-based Thuy Diep, a Vietnamese-born “I love fashion, and it’s a nice ers—then the Council of Fashion Hughes’ female volunteers even designer known for her floaty fabrics, exhibited her spring line Sunday evening.

change of pace from what I do dai- Designers of America—offered her subbed as a model,wearing a striped zuma press ly,” she says. “It’s always good to be a paid position each season as vol- menswear outfit at a Nautica show In menswear, Sergio Davila, a Peruvian Sergio Davila around so many creative and inter- unteer coordinator. when the design company was designer, plans to show his new line of esting people.” “They must have noticed my short-staffed. The trick worked as sporty chic spring attire today. Ms. Randise is one of 950 peo- wild enthusiasm,”says Ms.Hughes, comic relief for the audience, and Meanwhile, Leifsdottir, the new wholesale line from ple, both volunteers and paid who is in her early 30s and says that Ms. Hughes could not have been Anthropologie aimed at young female shoppers, will be staffers, who help to pull off the she loses 5 pounds on average dur- more proud. Thuy Diep featured on Thursday. Zheng Luo, who owns Omnialuo Inc., eight-day extravaganza, sponsored ing the September and February an eco-friendly Chinese fashion company, will debut her by Mercedes-Benz and produced by shows. Stylish site collection, made from organic and natural fabrics, on Friday. IMG Fashion. The week typically She now oversees an army of 450 during the off-season, the Buf- generates about $233 million for the volunteers, the majority of whom falo native runs Curvy Girl Style, a city in direct visitor spending, ac- Webzine that offers style tips and ALL NATURAL: A line of Zheng Luo’s cording to the New York City Eco- ‘It’s like building insight to women different from eco-friendly fashions nomic Development Corp. those who model on runways. will make its debut. Though many of the 950 staffers Another volunteer-turned-reg- are student volunteers, several oth- a little city ular, David Fernandez schedules ers, like Ms. Randise, use their pre- vacation time from his job in the cious time off from their regular jobs in the middle special events department at MTV to feed their love of style and slake for the September and February their thirst for new designs, while of Manhattan’ Fashion Weeks. He started volun- getting paid a nominal fee. teering in 1994, working four shows a year before the women’s Many tasks and men’s shows were combined in without such fervent fashion- 1997. For the past eight years, Mr. istas, the machinelike coordination she enlists through seminars at the Fernandez has run the information of more than 70 Bryant Park events Fashion Institute of Technology, booth, dubbed the Command would come to a grinding halt. Parsons the New School for Design, Center, in the lobby of the tents. “There’s a lot of different layers New York University and Marist His is the first face to greet all show getty images of jobs that have to be done,” says College, along with networking spectators. Fern Mallis, a senior vice president sites such as Facebook. “The most-asked question is first-time visitors can seem more eries, maintenance and the building of IMG Fashion,who founded New Ms. Hughes and her staff set up ‘Where’s the bathroom?’ ” the 34- fashion-savvy. and tearing down of each set. York’s Fashion Week 15 years ago. name tags on seats, put together year-old says. Mr. Fernandez fields Though many who assist behind “People see the glamour, but I “It’s like building a little city in the press kits and gift bags, usher guests such queries and provides show di- the scenes do so for their love of the don’t think they realize the hard middle of Manhattan.” to their seats, pick up trash and rections and restaurant recommen- trade, others work for the cama- work and effort that it takes to pro- When Patty Hughes moved move sets. Though she’s often too dations. He often coaches visitors raderie. Paul Soltys, a 50-year-old duce it,” he says. here after college a dozen years ago, busy to even watch the runways,she through the pronunciations of diffi- general contractor,has managed the she immediately started volunteer- does make a point to sneak a peek at cult designer names, like Joop, in-house production crew of 60 for COMMENTS? ing at the tents at Bryant Park. Be- the collection of Michael Kors, her which actually sounds like “yoap,”so the past decade. He handles deliv- [email protected]

THE WEEKS AHEAD

THIS WEEK’S EVENTS SEPTEMBER 16 SEPTEMBER 9 MyDealBook.com holds real estate Crain’s New York Business holds breakfast networking reception. 6 p.m. to 10 p.m., forum with Gov. David Paterson. Marquee, 289 10th Ave. Free. Hilton New York, 1335 Sixth Ave. Preregistration required. (212) 260-6321 8 a.m. to 9:30 a.m. Fee: $75. or [email protected]. Preregistration required. SEPTEMBER 17 www.crainsnewyork.com/events. Sterling National Bank holds SEPTEMBER 9 networking reception. 5:30 p.m. to American Business Women’s 7:30 p.m., 512 Seventh Ave., main Association holds networking reception. level. Free. (212) 575-3404 or 6 p.m. to 8:30 p.m., Domenico’s [email protected]. Restaurant, 120 E. 40th St. Fee: $30 SEPTEMBER 17 members and first timers, $40 repeat B’nai B’rith Real Estate Unit holds lunch visitors. (212) 387-8134 or on investment management. 12 p.m. to [email protected]. 2 p.m., Cornell Club, 6 E. 44th St., Ivy SEPTEMBER 10 Room. Fee: $60 in advance, $70 at the Five O’Clock Club holds seminar on door. (212) 885-7239 or WWW.11WEST19STREET.COM interviewing techniques. 6:30 p.m. to [email protected]. CHELSEA • FLATIRON • UNION SQUARE 8:30 p.m., 11 Penn Plaza, 5th floor. Fee: $50. (914) 788-5482 or SEPTEMBER 22-28 [email protected]. SEPTEMBER 22 SEPTEMBER 11 Score NYC holds seminar on • 26,000 sf FOR LEASING INFORMATION Chemical Marketing and Economics accounting basics. 9:30 a.m. to PLEASE CONTACT: Group holds lunch on sustainable 12:30 p.m., Science, Industry & business. 11:30 a.m. to 2 p.m., Club Business Library, 188 Madison Ave., • Full floor identity Quarters, 40 W. 45th St. Fee: $45 lower level. Fee: $45 in advance, $55 at Michael Kaufman members, $55 nonmembers. the door. (212) 264-4507 or • Newly renovated lobby 212-471-4320 (917) 684-1659 or [email protected]. [email protected]. SEPTEMBER 23 [email protected] SEPTEMBER 15-21 Northwestern Mutual Financial • NBI for qualified Tenants SEPTEMBER 16 Network holds seminar on asset Grant Greenspan Lower Manhattan Business Solutions protection. 4 p.m. to 5 p.m., 875 Third • Close Proximity to Center holds seminar on business legal Ave., 23rd floor. Free. (212) 433-1280. 212-471-4340 structures. 3 p.m. to 5 p.m., 79 John St., —maia blume Transportation [email protected] second-floor conference room. Free. (212) 618-8914 or [email protected]. TO LIST YOUR EVENT

Listings can be submitted through the Crain’s Web THE KAUFMAN ORGANIZATION More meetings online at site. Go to www.crainsnewyork.com and click on WWW.KAUFMANORGANIZATION.COM www.crainsnewyork.com “Events.” Sponsors have a choice of several free or Click on “Events” paid listing options. All business events will be posted online within two business days.

40 | Crain’s New York Business | September 8, 2008 CNYB 09-08-08 A 41 9/4/2008 5:57 PM Page 1

BUSINESS LIVES CORPORATE LADDER Ed Rosenfeld Stepping into big shoes Steven Madden chief sign role and for Eddie to run the business day-to-day,” says Mr. PERSONNEL FILE focuses on licensing Madden. Mr. Rosenfeld joined the youth- COMPANY Steven Madden Ltd. deals, sagging margins; oriented firm three years ago and has new designs needed served as interim chief executive TITLE Chief executive since March. He has already made AGE 32 some bold moves. In August, he RÉSUMÉ inked two major licensing deals— Executive vice BY ADRIANNE PASQUARELLI one with Kimora Lee Simmons, to president, strategic planning and distribute her Fabulosity brand of finance, Steven Madden; vice hen Steve Mad- footwear and accessories at JCPen- president, Peter J. Solomon Co. den returned to ney stores in early 2009, and anoth- MANAGEMENT STYLE work in 2005 af- er with Jones Apparel Group’s l.e.i. Collaborative ter more than footwear franchise.The latter will be HOBBIES Politics and tennis three years in distributed at Wal-Mart this spring. prisonW for stock fraud and money To the next tier laundering, most people expected headed by Mr.Madden,to churn out gibbons catherine him to eventually take over the helm he’s also planning a large licens- edgy shoes and handbags.The com- of his eponymous footwear and ac- ing agreement focused on the luxu- pany’s fastest-growing brand, three- Cleaning the Jackson store’s bath- “I wanted to work for a company cessories company. ry tier of merchandise to be sold at year-old Madden Girl, a lower- rooms every day after high school that really does something—that But he surprised everyone last Saks and Bergdorf Goodman, a priced line aimed at teens,is a proven was Mr. Rosenfeld’s first real job. doesn’t just advise people,” he says. month when he promoted interim market segment the company has bright spot. The line’s sales grew by Eventually, he graduated to sales. Moving forward, Mr. Rosenfeld Chief Executive Ed Rosenfeld,a for- not yet slipped onto its feet. 94% during the second quarter. plans to pursue partnerships to ex- mer investment banker who is just But Mr.Rosenfeld will now need “What we’re finding is that peo- Giving advice pand into apparel, jewelry and even 32, to head the $431 million, Long to turn his attention to the compa- ple are still buying, if you have the after college, he headed to Peter the bed-and-bath sector, and to fo- Island City, Queens-based firm. ny’s sagging margins. Profits right products,” Mr. Rosenfeld says. J. Solomon Co., an investment cus on retail expansion overseas. In- Mr. Madden had plenty of time dropped 27.4%, to $7.6 million, for “We feel pretty good about our po- banking boutique in New York spe- ternational business currently repre- to weigh his decision. He was the second quarter compared with sition right now as we go into the cializing in retail and apparel. sents 5% of the company’s sales. banned for the past three years by the year-ago quarter—due mainly second half of the year.” After eight years of advising “It’s something we’re trying to the Securities and Exchange Com- to the weak economy and wholesale Originally from Jackson, Mich., clients, including Steven Madden ramp up over the next few years,”says mission from holding an executive customers scaling back their orders. Mr. Rosenfeld’s family background Ltd., Mr. Rosenfeld decided to Mr. Rosenfeld. “We’ve really started office in the company he founded, The company operates 10 retail lo- made him ripe for the retail picking. switch games. He called up Mr. to get traction internationally.” Steven Madden Ltd. cations in Manhattan. His father owned a specialty depart- Madden and then Chief Executive “Eddie has flourished so much To win back business,Mr.Rosen- ment store with locations in Florida Jamieson Karson for a job in acqui- COMMENTS? that it’s easier for me to be in the de- feld is counting on his design team, and the Midwest called Jacobson’s. sitions and licensing. [email protected]

September 8, 2008 | Crain’s New York Business | 41 CNYB 09-08-08 A 42 9/4/2008 7:41 PM Page 1

BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING was promoted to managing director, been of counsel at Braverman & Ernst & Young: Philippe Leroy, 36, was staffing group, a new position, from Associates. HOT JOBS promoted to partner from senior assistant account executive. manager. Guardian Life Insurance Co.: Dale MEDIA & ENTERTAINMENT Michael S. Zambito, 35, was promoted to Magner, 55, joined as vice president, Chorion: Robert Traub, 44, was named partner from senior manager. retirement product sales. He had been vice president of licensing, Americas. He WANTED: CHIEF FINANCIAL OFFICER Susan Prior, 38, was promoted to regional sales manager at John Hancock was formerly senior vice president, principal from senior manager. Retirement Plan Services. global retail sales and marketing COMPANY NexCen Brands Inc. Dorian S. Swerdlow, 44, was promoted Guy Carpenter & Co.: Cory Anger, 37, was development, at Nickelodeon and to principal from senior manager. appointed senior vice president, global Viacom Consumer Products. JOB DESCRIPTION Oversee financial operations at the Manhattan Laurent Williot, 43, was promoted to structuring. She was formerly a senior Dada Entertainment: Simon Brereton, 34, company, which buys and manages global retail brands executive director from senior manager. vice president at Lehman Brothers Inc. joined as director, on-desk products. He MOST IMPORTANT TASK Help the firm manage its heavy debt. Last Getty Marcus Stern & Lehrer: Russell T. Lenox Advisors Inc.: Craig Stearns, 45, had been head of Musiwave Americas at month, the company restructured its bank credit facility. Glazer, 52, joined as partner. He was was appointed a senior vice president. Microsoft. formerly partner at DDK & Co. He was formerly senior financial planner Jennifer Press, 30, was named director of CREDENTIALS NEEDED Proven experience in financial Marcum & Kliegman: Diane Giordano, 48, at MetLife Securities Inc. communications. She was formerly management at a large global company was promoted to partner from senior Northfield Bank: Sebastian Gallitto, 29, director of communications at BMG SALARY Former chief financial officer earned $400,000 manager. joined as assistant vice president and Music Publishing Worldwide. Marni Pankin, 38, was promoted to commercial lending officer. He had been Missbehave magazine: Samantha Moeller, DOWNSIDE NexCen is struggling—the company reported a net loss partner from director. a commercial loan consultant at 29, was named editor-in-chief. She was of $4.6 million last year, compared with a $2.1 million loss in Bruce Roff, 41, was promoted to partner Washington Mutual. formerly a columnist at Vice magazine. 2006. from senior manager. Stephens Inc.: Andreas J. Dirnagl, 40, was Nickelodeon/MTVN Kids and Family Last month, NexCen promoted Kenneth Hall, the company’s former John Rushford, 56, was promoted to appointed a managing director. He was Group: Jane Gould, 36, was appointed chief financial officer, to chief executive. It owns MaggieMoo’s, Bill partner from director. formerly executive director and senior vice president, consumer insights. She Blass, The Athlete’s Foot and other well-known franchises. equity analyst at J.P.Morgan Chase & Co. was formerly director of programming, APPAREL & RETAIL content development and research, at —AMANDA FUNG Saks Fifth Avenue: Eric Jennings, 51, was HIGH TECH & NEW MEDIA Nickelodeon Australia. named vice president and fashion director Stone Technologies: Jonathan Stone, 44, Waterfront Media: Chelseah Free, 31, was of men’s, home, food and gifts. He had was appointed president and chief named director of strategic partnerships. been brand director at Hickey Freeman. executive. He was formerly vice She had been sales manager at president of sales at Gallardo Advertising.com. EDUCATION Technology. Art Institute of New York City: David REAL ESTATE Chetna Kagtada, 28, joined as search development and external relations. Warren, 56, was appointed president. He LAW Vanguard Title Agency Inc.: Marc Israel, consultant. She had been recruiting She was formerly assistant vice was formerly president-in-training at Orrick Herrington & Sutcliffe: Raniero 46, was appointed executive vice assistant at Celerity Technology president for development at East the Illinois Institute of Art. D’Aversa Jr., 43, joined as partner. He president. He was formerly vice Services. Stroudsburg University. had been a partner at Mayer Brown. president and special counsel at LECG: Peter Kyviakidis, 44, was named ORT America: Laurie A. Pine, 49, was FINANCE & INSURANCE Tarter Krinsky & Drogin: Thomas G. American Land Services. managing director. He had been a appointed national director of Access Capital Inc.: Jessica Sanchez, 29, Huszar, 41, joined as counsel. He had managing director at Kroll. communications. She was formerly SERVICES Kenneth Leissler, 52, was named director of communications at the UJA- Howard-Sloan Professional Search: Karen managing director. He had been a Federation of New York. Jackson, 49, joined as senior consultant. director at Deloitte FAS. —sarah studley She was formerly president of Celerity Roger Siefert, 55, was named managing Technology Services. director. He was formerly an executive EXECUTIVE PROMOTIONS Susanne Currivan, 46, joined as senior vice president at Aon Consulting. director. She had been senior director at Mark Winston, 49, was named managing Crain’s lists the promotion and hiring of New York Celerity Technology Services. director. He was formerly a managing area senior executives on a space-available basis, JoAnna Povlas, 41, joined as senior director at Aon Consulting. with priority given to positions in New York City. director. She had been manager, Michael K. Archibald, 30, joined as senior The fastest way to get an announcement into technical recruiting, at Celerity consultant. He was formerly a manager Crain’s is to submit details online by filling out the Technology Services. at Aon Consulting. form at www.crainsnewyork.com/submit. The Lori Seibert, 55, joined as senior director. Little Flower Children and Family Executive Moves column is also available online. She had been senior director at Celerity Services of New York: Carolyn Bolt, 47, Crain’s cannot confirm receipt of listings or say Technology Services. joined as senior director of when they will appear.

BEST OF BOB LAPE

Ammos Anthos attraction with an emphasis on www.ammosnewyork.com 36 W. 52nd St. (between Fifth and tender grilled meats, mezes and 52 Vanderbilt Ave. (between East Sixth avenues), Manhattan. salads. Try almost everything with 44th and East 45th streets), Man- (212) 582-6900. It’s Donatella the $42 Pera Tradition tasting. hattan. (212) 922-9999. Wunder- Arpaia and chef Michael Psilakis kind chef David Ogren brings real (Dona) again, as the young chef Bodrum creative fire to the handsome makes a bid to gain for modern www.bodrumnyc.com Mediterranean-Greek eatery near Greek cuisine the same respect 584 Amsterdam Ave. (between Grand Central Station. accorded French, Italian and Span- West 88th and West 89th streets), ish cooking. A remarkable effort. Manhattan. (212) 799-2806. Lively, busy, no-reservations Turk with Axia Taverna Mediterranean sidebars. Outstand- www.axiataverna.com ing adana kebab and fried calamari. 18 Piermont Road, Tenafly, N.J. (201) 569-5999. A highly appealing Ilili Greek restaurant from builder Mi- www.ililinyc.com chael Parlamis and designer Tony 236 Fifth Ave. (between West 27th Chi featuring modern cuisine and and West 28th streets), Manhattan. stylish surroundings. (212) 683-2929. Great-looking new mod Lebanese gathering place Pera Mediterranean with dips, salads, grills and Leb- Brasserie ½ anese wines for all. www.peranyc.com SUPERIOR OFFICE 303 Madison Ave. (between East Turkuaz AVAILABILITIES 41st and East 42nd streets), Man- www.turkuazrestaurant.com hattan. (212) 878-6301. Great-look- 2637 Broadway (at West 100th 212.594.2700 ing, friendly contemporary Turkish Street), Manhattan. (212) 665-9541. This Upper West Side Turkish = Outstanding treat offers authentic and full- = Excellent range Turkish fare with a stunning- SLGREEN.COM = Very good ly generous Sunday brunch: 100 = Good dishes, $18.95.

42 | Crain’s New York Business | September 8, 2008 CNYB 09-08-08 A 43 9/4/2008 5:55 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape Nomad presents slow-cooked tajines in three flavors: seafood, chicken and olive, and lamb and prune. The maritime medley of shell and finned fish was marred by iodiney shrimp. A modest splash of harissa intensifies the chicken stew’s flavor profile. Couscous options range from vegetable—carrots, butternut squash, turnips, cabbage, fava beans and raisins—to chicken, braised lamb,merguez and royal,or royale,as it often appears. I prefer royale because it has everything: vegetables, lamb and chicken slowly simmered in a seasoning broth. Spoon it over the couscous, add harissa as desired, and you have a splendid meal for $16. The menu contains traces of France’s culinary influence on North Africa, with a steak frites here and a grilled quail there, and even chocolate mousse. Other desserts ($6) include a plate of regional sweets featuring baklava and Algerian sesame cookies. The concise wine list contains seven bottles from Algeria and Mo- rocco, as well as other offbeat selec-

buck ennis tions. Chanoine Tsarine Rosé Brut NOMAD’S LAND: Proprietor Mehenni Zebentout, who also owns the nearby Belcourt, keeps Champagne is seldom spotted any- things simple and friendly in this East Village spot. It also has a garden. where in town,and even more rarely at $99. Twice that price would be more the norm. The multifaceted appeal of this East Village restaurant could make North Africa mealtime nomads out of us all. not so far away COMMENTS? [email protected] Nomad joins trend bird dinner is a veritable steal: $13.95 for soup, salad, entrée and a with flavorful dishes glass of wine. Tajines, couscous and grills— and tabs that are redolent of cumin, cinnamon, cloves, garlic and onions—best ex- easy on the wallet emplify North African cuisine. Appetizers ($6 to $12) include estaurants of diverse colorful salads and a number of such African lineage are pastry-wrapped goodies as brik,a flowering in Manhat- flaky Tunisian turnover filled with tan. Nomad, a North tuna, egg, capers and mashed pota- NOMAD Marcum & Kliegman LLP African specialist, is toes; and briwat,light pastry stuffed www.nomadny.com Certified Public Accountants & Consultants Rthriving in the East Village. Factor with chicken, almonds and honey 78 Second Ave. in hummus havens, and the move- and sprinkled with powdered sugar (near East Fourth Street) ment is clear. and cinnamon. (212) 253-5410 Nomad features foods of Mo- The latter is akin to pastille, the ## rocco, Tunisia and Algeria—the larger Moroccan potpie, which is homeland of owner Mehenni included in choices for main course, CUISINE North African Zebentout,whose Belcourt anchors with either chicken or vegetable fill- WINES 25 choices, 8 by the a corner across Second Avenue. ings. I love the seasoned minced glass The eatery’s narrow facade belies lamb bourek in spring-roll dough. its depth, which extends from four All come with perfectly dressed DRESS Casual tile-topped tables on the sidewalk green salads. NOISE LEVEL Moderate back to a handsome L-shaped gar- Crisp pita triangles frame za- Comprehensive assurance, den in the rear where parties are of- alouk, a dish of roasted eggplant PRICE RANGE $16-$23; ten held. blended with tomato, cumin and 3-course prix fixe, 4-6:30 p.m., The interior is decorated with ginger. Another popular North $13.95 advisory and tax solutions. small, prehistoric figures drawn on African vegetable side, chakchuka, WINE MARKUP 50%-250% sponge-painted walls. An intimate, combines diced peppers and toma- carved-wood bar seats five. toes in a paprika-rich sauté.The dish CREDIT CARDS All major Unparalleled personal service. An ingratiating waitstaff ex- accompanies a terrific sandwich of RESERVATIONS Suggested plains any unfamiliar terms, but the zesty merguez sausage served on a HOURS Dinner, Mon.-Thurs., That’s the bottom line. menu does a good job of spelling baguette, with spicy French fries. 4-11 p.m., Fri.-Sat., 4 p.m.-mid- them out. It also highlights No- Those house-made lamb sau- night, Sun., 3-11 p.m. mad’s big bang for the buck. Only sages take another star turn in a Visit us at Solutions.MKLLP.com two entrées top $20, and the early- straightforward grilling plated with ####= Outstanding saffron rice and an Algiers salad—a ###= Excellent ## toss of tomatoes, cucumbers, beets, = Very good NEW YORK (NY) • MELVILLE (NY) • ROSELAND (NJ) • TINTON FALLS (NJ) • GREENWICH (CT) • GRAND CAYMAN (BWI) BEST OF BOB LAPE More Middle Eastern # and Mediterranean spots PAGE 42 corn, red onion, mixed greens and = Good lemon mustard.

September 8, 2008 | Crain’s New York Business | 43 CN012320 8/29/08 3:00 PM Page 1

450 Park is pleased to welcome the following tenants:

Harbinger Capital Partners Represented by Brian Goldman and Scott Rosen, Newmark Knight Frank, and Dana Pike, George Comfort & Sons

Claret Capital Represented by Kevin Daly, Cushman & Wakeﬁeld

Citigroup Represented by Newmark Knight Frank

Zilkha & Sons Represented by Joel Burris, Brown Harris Stevens

Austrian National Bank Represented by John Cannon and Howard Rosen, Grubb & Ellis

Hanseatic Represented by Brian Waterman & Jonathan Fanuzzi, Newmark Knight Frank

Jay Gaines & Company Represented by Jon Zuckerman, CB Richard Ellis

Square Mile Capital Management Represented by Newmark Knight Frank

For full ﬂoor and pre-built ofﬁce suite leasing information, please contact:

David A. Falk, 212-372-2271 [email protected] Peter T. Shimkin, 212-372-2150 [email protected] Gregory P. Knoop, 212-825-1300 [email protected]