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TOP STORIES BUSINESS OF FASHION Amid condo glut, Pleasing women owners cut prices, over 35 is tough; convert to rentals 2 firms eye a runway splash PAGE 2 ® PAGE 13 McCain hopes to make a bigger splash on the Web VOL. XXIV, NO. 35 WWW.CRAINSNEWYORK.COM SEPTEMBER 1-7, 2008 PRICE: $3.00 with social network NEW YORK, NEW YORK, P. 6 Here’s a vote Lawyers lose for Mike for a third term as mayor jobs; Wall St. ALAIR TOWNSEND, PAGE 11

Music maven FINDING INNOVATIVE HELPING THE MOST DIPPING INTO ways to raise money at-risk populations endowment funds is to tune up MSG on the Web has taken now involves making one way to stave off the culprit Entertainment on new urgency. excruciating choices. painful program cuts. CHILDREN’S AID SOCIETY METROPOLITAN COUNCIL BIG BROTHERS BIG SISTERS PAGE 23 C. Warren Moses ON JEWISH POVERTY OF NYC to save money, since their salaries Chief executive William Rapfogel Michael Corriero Firms dependent now hover at about $160,000. Chief executive Executive director on waning financial “This has not been a great year for law firms,”says Aniello Bianco, deals shed attorneys; senior vice president at legal con- chance to cherry-pick sulting firm Hildebrandt Interna- HARD TIMES AT tional. “When you have people who are not busy and you don’t an- BY HILARY POTKEWITZ ticipate them becoming busy, law firms have to trim.” NONPROFITS lawyers are following Law firms’ Manhattan offices bankers, as usual—right out the are feeling a disproportionate im- door. pact because of the Wall Street- Gifts dwindle, costs increase In the wake of massive layoffs heavy origins of this economic on Wall Street,law firms have been slowdown. and further cuts loom quietly letting go of staffers whose Just last month, for example, BUSINESS LIVES services are no longer Manhattan-based Fried the most vital charities in New York—those that Finding a better needed now that financial Frank Harris Shriver & Ja- provide food, shelter and other services to the city’s deals have dried up. The 200 cobson laid off about 60 life away from the neediest—are facing their worst crises in memory. targeted layoffs that began LAWYERS administrative employees bright lights late last year have turned have lost their here, or nearly 10% of its Because of the economic downturn,such nonprofits have jobs in NYC; PAGE 21 into a torrent that will like- more layoffs staff. lost millions in funding, forcing them to cut their ly continue into 2009. expected London-based Clifford programs and scramble to develop new fundraising Up to 200 New York- Chance jump-started the strategies when the need for their services is greater than based attorneys from a dozen of layoffs last November when it cut AT DEADLINE the country’s top law firms have a handful of its New York struc- ever. An in-depth look at the problem and the efforts to lost their jobs in the past year. An tured-finance associates. A few THE FUTURE OF THE PARKWAY solve it begins on Page 3. even higher number of paralegals, weeks later, Manhattan-based HOSPITAL SHOULD BECOME secretaries and other support per- Thacher Proffitt & Wood sent a clear soon.The Queens TAKING A PAGE FROM OBAMA Children’s Aid Society Page 3 sonnel have also been axed. Some chill down everyone’s spine with its hospital, slated to close by firms are postponing the start announcement that it was laying Sept. 30 as a result of a Berger STAR IMMUNITY Prestige arts groups aren’t hurting Page 3 dates of new associates in an effort See LAWYERS on Page 7 commission mandate, has been lobbying fiercely to remain open. If the hospital does close, it has to give employees who are members Verizon searches for new horizons of 1199 SEIU 30 days’ notice that they will be losing their jobs.The state refuses to The potential partnership high- disclose Parkway’s fate. “The Wireless carrier lights Verizon’s efforts to dethrone CLOSING THE GAP Department of Health is opens platform; AT&T Wireless as the nation’s Verizon added 1.5 million new customers in 2Q 2008. reviewing a proposal from leading wireless carrier.To position Parkway for proposed exclusive deal with itself for future growth,Verizon has alternate services at the site,” a Google on the way acquired rural wireless carrier Alltel spokeswoman for the agency and has embarked on a major says. strategic shift that is opening doors BY AMANDA FUNG to new opportunities. DESPITE STRONG OCCUPANCY “Verizon is catching up to the RATES OVER THE SUMMER, verizon wireless and Google winds of change,” says David New York City hotels report a Inc. could seal a deal that would Danon, founder of Sonic Boom, a worrisome drop in corporate make the tech giant’s search engine Manhattan-based developer of See AT DEADLINE on Page 2 a featured service on all Verizon cell mobile applications sold by all the phones by year end. major wireless carriers including AT&T WIRELESS VERIZON WIRELESS Verizon. “Like any big company, they have a lot to lose, so they are Subscribers

35 71.4 Million 68.7 Million taking small steps to figure out what 5 works.” Revenue Earlier this year,Verizon bought $12 Billion $12 billion ELECTRONIC EDITION Alltel for $28.1 billion.If the acqui- sition receives regulatory approval, 1.6% Churn rate 1.1%

NEWSPAPER See VERIZON on Page 8 71486 01068 0 CNYB 09-01-08 A 2 8/29/2008 7:27 PM Page 1

AT DEADLINE

Continued from Page 1 large-scale projects in Brooklyn account business from Wall and Manhattan. Street firms. Sean Hennessey, chief executive of Lodging FOR THE FIRST TIME, THE Investment Advisors, put the METROPOLITAN OPERA WILL decline at 15% at a minimum. transmit its Sept. 22 opening- To compensate for that likely night gala performance live to reduction in business, hotels are 600 theaters in North and now locking in more group South America.The perform- bookings with less troubled ance, which stars Renee Fleming, industries and more marks the opera’s first event of international and domestic its 125th anniversary year. Last leisure travelers. season, more than 935,000 people worldwide attended the COLUMBIA BUSINESS eight operas transmitted by the SCHOOL’S SENIOR EXECUTIVE Met live in high definition into Program is teaming up with movie theaters.This season, the New York-based nonprofit Met will broadcast 11 operas. Humpty Dumpty Institute to The gala includes acts from help survivors of unexploded Verdi’s La Traviata and Richard ordnance in Vietnam. Executive Strauss’s Capriccio. teams will help train amputees in Quang Tri province, the most SHARES OF TEEN CLOTHING heavily bombed area of COMPANY DELIA’S INC. FOR RENT: Bridges Vietnam, to grow and sell jumped sharply Friday after the NYC North on Third Avenue switched to a mushrooms to a processing retailer reported strong sales in rental after condo factory. Some of the proceeds the second quarter.The stock sales foundered. will go toward clearing land closed at $2.49, up 35% for the mines.The partnership is the week. Late Thursday, the BIG POSITIVE: first of a series of initiatives in clothing retailer, which targets Columbia U. purchase removes inventory which senior executives in a teenage girls, announced from an oversaturated four-week leadership program revenues of $58.1 million for the Riverdale market.

will work on global aid and quarter ended Aug. 2, up 10.8% buck ennis development projects. from the same period last year. Same-store sales increased 5.2% ONLY 185 RESIDENTIAL in the quarter.The clothing BUILDING PERMITS WERE company still lost $5 million in issued in the city in July, a 50% the quarter, compared with a Condo glut builds decline over July 2007.The loss of $5.1 million in the number of housing units second quarter of last year. covered by the permits fell 44%, Some analysts upgraded their to 2,005. Permits surged in June rating on Delia’s stock. Mark Owners cut prices, switch to rentals; impact uneven as developers rushed to meet Montagna of C.L. King & deadlines for changes in the Associates upgraded Delia’s to construction code and 421-a “strong buy” from “neutral,” BY THERESA AGOVINO subsidies. For the first seven citing impressive merchandise months of the year, permits gains of more denim products, when columbia university announced last week that it had bought a brand-new condo- dropped 24%, compared with currently popular among the minium building in Riverdale to house faculty and students, Vasco Da Silva cheered. It’s not the same period a year ago. teen crowd. He also said Delia’s that he has any particular affection for Ivy Leaguers. Units covered by the permits is starting to show improve- were up 47%, fueled by a few ments in operations. As a real estate broker in the wealthy Bronx enclave, Mr. Da Silva simply has an abiding fear of oversupply in a market where empty condos are plentiful and buyers are anything but that. Over a half dozen condo developments have sprouted in the neighborhood over the past THIS WEEK IN CRAIN’S two years. Columbia’s timely purchase takes a 127-unit building off the market in a single stroke. “We have too much inventory on the market right now,” says Mr. Da Silva, director of sales NEIGHBORHOOD at Halstead Property Riverdale. “I think this is positive for the market.” 22 See DEVELOPERS on Page 5 JOURNAL------4

THE INSIDER------9

ALAIR TOWNSEND ------11 WEEK IN REVIEW ------12 Buyers pooling resources REPORT: BUSINESS

OF FASHION------13 lion worth of office buildings. approach to buying.” Joint ventures allow When Harry Macklowe un- Some office building owners are REAL ESTATE DEALS------17 purchasers to put loaded the GM building and three limiting their risk by taking on part- other properties earlier this year for ners.The Paramount Group bought SMALL BUSINESS ------17 more money down $3.95 billion, it was to a joint ven- the 800,000-square-foot building at CLASSIFIEDS ------18 on building deals ture among Boston Properties, 31 W.52nd St.in December and last Goldman Sachs and a Dubai-based week sold part of it to JP Morgan THE WEEKS AHEAD ------20 investment firm. Asset Management for an undis- BY THERESA AGOVINO closed sum. BUSINESS LIVES------21 Limiting debt Steve Kohn, president of Cush- BOB LAPE ------22 with financing still expensive and jeffrey katz, chief executive of man & Wakefield Sonnenblick difficult to obtain,Manhattan office Sherwood, says that by pooling re- Goldman, which advised Para- CORPORATE LADDER------23 23 buyers are increasingly creating sources, buyers can put up more mount, says instead of taking a big EXECUTIVE MOVES------23 joint ventures to acquire properties. money and thus limit the debt need- chunk of cash and putting it in one Last week, a partnership be- ed to buy a property, which is espe- building, investors would rather own vol. xxiv, no. 35, september 1, 2008—Crain’s New York Business (issn 8756-789x) is pub- lished weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Period- tween Sherwood Equities and an cially attractive now that lenders are smaller pieces of several buildings. icals postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address unnamed institutional investor requiring larger down payments and “Even people that have equity 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 bought 370 Lexington Ave. for financing is more expensive. want to spread it around,” says Mr. copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents $155 million. Last month, L&L “Joint ventures are an ideal ap- Kohn. copyright 2008 by Crain Communications Inc. All rights reserved. Holding Co. and Prudential Real proach for times like these,”Mr.Katz Estate Investors bought $500 mil- says. “This is a more conservative COMMENTS? [email protected]

2 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 3 8/29/2008 7:28 PM Page 1

HARD TIMES FOR NONPROFITS Those serving now in need

for a meal that doesn’t come.” Agencies face worst The most vital charities in New York— those that provide food, shelter and other crunch in decades, services to the city’s neediest residents—are facing their worst crises in memory. Non- scramble for ideas profits have lost millions in funding in this economic downturn, which has forced them to cut programs and scramble to develop new BY DANIEL MASSEY fundraising strategies when the need for AND MIRIAM KREININ SOUCCAR their services has never been greater.

in may, the trustees and top executives of Rising costs and demand Citymeals-on-Wheels gathered to make the “this is the worst we’ve experienced in my toughest decision in the agency’s 28-year 16 years here,” says William Rapfogel, chief history. executive of the Metropolitan Council on The organization has lost nearly Jewish Poverty. “After 9/11, things were $800,000 in donations and is grappling with rough, but this is rougher.” steep increases in operating expenses.For the The reason for the distress is that groups first time ever, the officials determined that are being hit simultaneously with a loss in in- they had no other choice but to eliminate a come and escalating costs for food and gas. meal—the second of two provided daily to At the same time, they are being deluged CUPBOARD BARE: 1,400 of its poorest, frailest clients. with record numbers of clients seeking help. “This is the worst we’ve “Deciding to cut the second meal was the Mr. Rapfogel says the Metropolitan experienced,” says most painful and heated discussion I remem- Council now serves 1,000 more people a Metropolitan Council ber among board members,” says Executive month—largely as a result of unemployment CEO William Rapfogel. Director Marcia Stein. “It’s not a wing on a and the mortgage crisis.The food pantry and

museum or something. It’s a person waiting See AGENCIES on Page 8 buck ennis Children’s Aid Society STARS ATTRACT THE MOST MONEY

WHILE MANY OF THE CITY’S 25,000 nonprofits A page from Obama’s playbook are finding it tougher than ever to raise money, high-profile arts institutions and major universities seem immune to the economic downturn. In fact, $2.5M shortfall and cuts time positions, cut two schools from its The group’s Web site, childrensaidsoci- some organizations are breaking fundraising highly regarded community schools pro- ety.org, has been redesigned with a focus on records. spur marketing blitz, gram, and deferred most capital spending. multimedia, which has led to more traffic When figures for the fiscal year that ended June “In a climate where we should be expand- and donations. 30 are audited, Lincoln Center officials expect to Web revamp and ing our work, we’ve frozen and trimmed it,” A YouTube channel and e-mail alerts and report a nearly 10% increase in annual operations microgiving pilot says Chief Executive C. Warren Moses. follow-ups to direct mailings have helped gifts over the previous year’s record $53.3 million. page views rise 30%, to 1.7 million. Visitors In addition, the A multimedia success are spending 26% more time on the site, and performing arts BY DANIEL MASSEY children’s aid has partnered with online donations have increased 45%, to center has raised minyanville.com, a business infotainment $260,000. about two-thirds n each of the past few years, the site for which Mr. Moses writes a periodic The agency will roll out banner ads soon of its $1.2 billion Children’s Aid Society spent only a column called “The business of giving.” and plans to buy 10 million impressions. It is capital campaign fraction of the $100,000 budgeted for also working to launch Google text ads. goal. marketing. But this year, faced with a An Obama-style microgiving pilot is “We haven’t $2.5 million fundraising shortfall, the BY THE NUMBERS on tap to raise money for specific pro- seen any group is spending more than grams. softening so far,” says Reynold I Levy, president of Lincoln $400,000 to recruit new ESTABLISHED 1853 Offline, ads will appear on the Center. “We are reaching out 10% donors. backs of buses and on elevator video LINCOLN CENTER’S SERVES 150,000 children at 45 sites to new corporations, projected rise in Though a decline in monitors. The society also intends to foundations and individuals, donations for individual gifts is re- build dioramas at the area’s three ma- OPERATING BUDGET $110 million and at the same time annual operations sponsible for much of jor airports. renewing gifts at significantly the problem, at least % OF BUDGET FROM PUBLIC FUNDS 60 higher levels of support.” seven corporate donors Help from board members New York University, whose fiscal year ended have told the society to ENDOWMENT $250 million board members have rolled up their Aug. 31, broke its previous fundraising record, expect less. It has elimi- sleeves, establishing a marketing com- raking in more than $698 million—an eye-popping nated 25 full- DRAWN FROM mittee and making special pleas to 70% increase. ENDOWMENT friends and associates. Yeshiva University set a record for total cash THIS YEAR $13 Members have opened their homes donations received in the fiscal year ended June 30, bringing in $104 million and an additional million for events that give the organization a chance to highlight programs and their $42.8 million in pledges. The university garnered benefits. 30 new gifts of $1 million or more—the most in its DONATION history—and the percentage of alumni giving cash SHORTFALL $2.5 And the agency is making sure that donors know they’re appreciated.Some gifts last year nearly doubled from 2006-07. million Yeshiva officials say the upswing was inspired 5,000 donors have received thank-you in part by the previous year’s $100 million gift from CUTS 25 staff phone calls. former board Chairman Ronald P. Stanton. “Mr. positions, 2 school That included 50 that Mr. Moses Stanton’s gift clearly has helped to motivate other roger hagadone programs made personally. supporters,” says President Richard Joel. “We have to reach not just the audi- The story is expected to be similar at the city’s OUTREACH CENTRAL: ence we are used to reaching, who are most prestigious institutions. “The large arts CEO C. Warren Moses aware of what we do, but people across organizations and universities are still able to raise has phoned donors the spectrum who might not be famil- money,” says Henry Goldstein, president of The personally to iar with us,” says Assistant Executive Oram Group, a fundraising consulting firm. “Their thank them. Director Patricia Grayson. base of donors is high-income and is unlikely to be so affected [by the downturn].” COMMENTS? [email protected] —MIRIAM KREININ SOUCCAR bloomberg news

September 1, 2008 | Crain’s New York Business | 3 CNYB 09-01-08 A 4 8/29/2008 8:52 PM Page 1

NEIGHBORHOOD JOURNAL Brooklyn Bridge Park draws IN THE MARKETS protest from local politician edited by Erik Ipsen Insists area residents Bond insurer worth avoiding get shortchanged; hen a stock is beaten too late to turn back down as far as that of bond Winsurer MBIA Inc., any BY MATTHEW SOLLARS good word can touch off an explosion. Sure enough, its shares rooklynites have been have soared 231% in the past month waiting patiently for on the news that the company was bloomberg news over two decades for a out of danger of having its credit park to be built on the abandoned docks below rating downgraded again, as well as Bthe Brooklyn Heights Promenade. its bold move to take over $184 billion Now that work on the park has ac- of bond guarantees managed by an tually begun—in the form of demo- even weaker rival. lition work on piers that started in LATE BLOOMER: Site preparation work has finally begun for the 85-acre waterfront oasis. January—a local politician is won- Sounds good, but the fact is that dering if residents are getting all MBIA still faces towering problems. they should. parks, including Governors Island ager at Community Board No. 2, That’s why its shares are 72% cheaper Daniel Squadron,a candidate for and the East River Park in Manhat- says most area residents “have made the state Senate, floated his own tan, that would create what he calls their peace with the idea that hous- than they were a year ago—and why proposal for the 85-acre Brooklyn a Central Park around the harbor. ing will provide the greatest amount investors should avoid them at all costs. Bridge Park late last month. Mr. “The potential there is phenom- of income for the park with the Even though MBIA has taken $3 billion in net losses over Squadron, who is running against enal,” he says. smallest possible footprint.” the past 12 months and written down the value of its longtime state Sen. Martin Connor Be that as it may, state officials The same goes for Mr. Connor, in next week’s Democratic primary, insist that the park—including res- the incumbent, who says he doesn’t says the state should scrap its plans idential development—will move much like the state’s housing idea ei- mortgage-related assets dramati- some other luxury brands,Ralph is to allow residential development. forward, with the first half expected ther, but doesn’t believe it is worth cally, plenty of issues remain. For something of a stay-at-home. U.S. The state has long said that the res- to be completed by 2012. They also killing the park over. He insists that openers, its $16 billion of claims- operations contribute more than idential towers are key to funding point to a $600,000 payment re- the plan should move forward as is, paying resources pale in compari- three quarters of the firm’s rev- operations and maintenance on the ceived last week from developers of without delay. son to its $125 billion of exposure enues, a reliance that has held back park. a converted warehouse at 360 Fur- “We will get there.We’re making to collateralized debt obligations, the company’s shares of late. They Mr. Squadron wants more recre- man St. as proof that the plan is al- progress,” he says. $8 billion of home-equity loans are up 1% in the last year. That ational outlets. He also thinks the ready working. and billions more of other esoteric compares with the 46% jump area should be a part of a ribbon of Robert Perris, the district man- COMMENTS? [email protected] debt. logged by the shares of Warnaco— Meanwhile,the firm’s loss three another apparel maker (and months ago of its AAA credit rat- prominent Olympic sponsor)— ing makes it awfully hard for but one that rings up half its sales MBIA to grow by writing new in fast-growing overseas markets. US Open Tickets guarantees. Others boasting a top credit rating, including Warren Buffett’s new bond insurer, now Sinking oil prices enjoy a huge edge in the market. buoy JetBlue Unsurprisingly,analysts see at least a few more years of losses. by year end, JetBlue will have —aaron elstein added several new routes, 20 new planes to its fleet—including 12 A320s—and sold off nine older gas-guzzlers and opened a new terminal at JFK. That’s all good,but what has lifted the carrier’s getty images Lauren-outfitted U.S. Olympians shares by 46% in the past three The 2008 US Open is here! Homebody Ralph months is nothing more than a good old-fashioned tailwind—a rides U.S. rebound 13% fall in the price of oil. The news of surprisingly strong shares are up 3% this year, despite Order your tickets now! If you would like to U.S. economic growth in the sec- predictions that the company will purchase tickets for any session, our Event ond quarter helped to push Ralph post per-share losses of about 50 Specialists are standing by ready to assist you. www.admitone.com Lauren’s shares up 3% last week. cents for 2008 and will continue And with good reason. Unlike flying in the red next year. If you are a season ticket holder and would 646-307-4239 like to sell any of your tickets, call Admit One today! Our Market Makers are ready to make you an o er. HARD-HIT FINANCIALS REBOUND STRONGLY When purchasing US Open Tennis tickets from With anxiety levels Admit One, you will receive a full refund for ebbing, investors embraced at-risk +12% Ocial USTA cancelled sessions. financials as broad +10% +9% market indexes swung wildly on thin trading. Merrill Lynch Lehman Bros. AIG

4 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 5 8/29/2008 8:53 PM Page 1

Developers seeking remedies amid condo glut

Continued from Page 2 the meantime, developers face an Lowering prices is no guarantee area was drawing mostly singles and pick up in the next few years. In the wake of a building boom uphill struggle to sell what they’ve of success, as North Manhattan childless couples. Ron Moelis, CEO of L&M Eq- that has added thousands of condos built—especially in Brooklyn and Construction—the developer of “There wasn’t a niche for this uity Participants, considered turning to the New York market over the upper Manhattan. As of last week, Bridges NYC North—recently dis- kind of a project, and then the mar- the project he sold to Columbia into past five years, many projects are according to the real estate Web site covered. Earlier this year, it cut ket also changed,” says Mr. Bak. a rental.But he says he wasn’t sure that foundering as the local economy StreetEasy.com,14% of the new de- prices on some of its units and hired his creditors would go along or that cools. Brokers report that develop- velopments in Brooklyn have low- a new broker. After those moves fell Settling for less the units could command rents high ers in some areas of the city are ered their prices,while only 8% have flat, about four months ago, the de- the rub is that in most cases, the enough to bring adequate returns. struggling to sell units as consumers increased them.The results were the veloper of the 18-unit project cash flow from rentals is not enough In the end,he sold out to Colum- and lenders grow increasingly skit- same in upper Manhattan;14% of turned the property into a rental. to pay off construction loans, forc- bia,even though it means settling for tish. Hardest hit are developments developers have cut their prices, Yoni Bak, a project manager at ing developers to go back to their a price 20% below what he had orig- now seen as inappropriate for their while only 8% have raised them. the company, blames the softening lenders for relief. Faced with the inally hoped to make. neighborhoods or those located in In contrast, on the Upper East residential market and the build- choice of stretching out the loan or “Selling to Columbia was just the peripheral parts of the city that are Side, 20% of new developments ac- ing’s large units which were de- foreclosing on the property, many better option,” says Mr. Moelis. still gentrifying. tually hoisted their prices, while signed for families. Only in hind- bankers are opting for the former, “A lot of guys are scrambling out only 7% lowered them. sight did the company realize the hoping that the condo market will COMMENTS? [email protected] there,” says Eric Anton, executive managing director at Eastern Con- solidated, a real estate investment services firm. “A lot of them are go- ing to lose their shirts if they don’t think of something to do.” The problem is that easy solutions are few. Buyers for entire buildings Don’t Push Your Luck are scarce—as are banks willing to fi- nance them. Instead, many develop- ers are targeting buyers of individual With Your Push To Talk. units by cutting prices or offering to pay closing costs. A few others are taking more MAKE THE SWITCH TO VERIZON WIRELESS. drastic action. Unable to sell their units,they are converting their proj- Make your business instantly more productive by switching to the only Push to Talk service ects to rentals—typically taking a that comes with the Network. And right now you can get a great deal on one of our hardest- major financial hit in the process. The owners of 99 Gold St. in Dum- working phones. Verizon Wireless. The smart choice for Push to Talk. bo and 192 Spencer St. in Clinton Hill, Brooklyn have converted their projects, as has the owner of the Bridges NYC North on Third Av- enue in Harlem. Sea change Add Push to Talkk to any just a few years ago, such steps Nationwide voice plan were unimaginable. Back then, the $ booming economy and a bountiful for only 5 a month. supply of credit fueled an explosion Plus, activate Push to Talk service in residential construction. In the on 5 or more new business lines peak year of 2006, 659 condo plans and get these great deals. were submitted to the Attorney G’zOne BoulderTM General’s office for approval, nearly triple the number from just four $ 99 years earlier. This year, developers 79 With new 2-yr. activation on any Nationwide voice plan have scaled back drastically,submit- when you activate 5 or more business lines. ting just 312 plans to date. • Meets military standard 810F for Down the road, those cuts will water, shock and dust resistance take pressure off the market, but in Motorola AdventureTM V750 $ 99 EXPLORING CAREERS 49 With new 2-yr. activation on any Nationwide voice plan GROUP SEEKS when you activate 5 or more business lines. HOST BUSINESSES • Turn- by-turn directions with VZ NavigatorSM THE GREATER NEW YORK COUNCILS’ Exploring program seeks businesses to host sessions offering high school students the chance to explore various industries and make better decisions about career choices. Exploring puts together groups of 15 to 25 students. For Push to TalkTaalkk solutionssolutu ions forfor youryo small business, let Verizon Wireless be your “go-to” guy. They meet at the host busi- nesses after school for four or more sessions, learning about Call 1.800.VZW.4BIZ Clickk verizonwireless.com/pushtotalk Visit a Verizon Wireless store educational requirements, VERIZON WIRELESS COMMUNICATIONS STORES See store for Return/Exchange Policy. salaries and what people in MANHATTAN Union Square 57 W. 57th St. 134 W. 34th St. 100 Wall St. & Water NASSAU Westbury SUFFOLK Smith Haven WESTCHESTER their selected fields actually do. 342 Madison Ave. 859 Broadway btwn. 5th & 6th Ave. btwn. 6th & 7th Ave. (Closed Sat. & Sun.) Massapequa 49 Old Country Rd. East Northport 1 Smith Haven Mall Hartsdale @ 43rd St. 212-206-7587 212-980-4860 917-351-8000 212-510-6160 5070 Sunrise Hwy. 516-937-2960 4000 Jericho Tpke. 631-382-3720 355 N. Central Ave. For more information, call 212-856-6100 516-797-3880 631-499-1820 914-286-4120 Exploring Director Nicholas Hablamos Español Bogeatjes at (212) 651-2808, or visit www.nyexploring.org. Activation fee/line: $35. IMPORTANT CONSUMER INFORMATION: Subject to your Major Account Agreement or Customer Agreement, Calling Plan and credit approval. Offer available for corporate-liable customers only. Up to $175 early termination fee and other charges per line. Push to Talk requires compatible phone and is available only with other Verizon Wireless Push to Talk subscribers. Push to Talk phones are not eligible for $50 Red Hot Summer Sale promotion. Offers and coverage, varying by service, not available everywhere. Network details and coverage maps at verizonwireless.com. While supplies last. Shipping charges may apply. Limited-time offer. © 2008 Verizon Wireless.

59207-07.indd 1 8/4/08 8:29:49 PM September 1, 2008 | Crain’s New York Business | 5 CNYB 09-01-08 A 6 8/29/2008 7:30 PM Page 1

Newmark Knight Frank is pleased to have represented NEW YORK,NEW YORK edited by Valerie Block

in the leasing of the also “chasing” celebrities.They entire 20th and 21st floors Poker champ starts include comedian Richard Belzer,“a dressing the part big dog fanatic,” and Howard Stern’s totaling fiancée, model Beth Ostrosky, “who brooklyn resident Ylon Schwartz showed initial interest but hasn’t 70,070 rentable square feet won $990,000 during the World responded [to interview requests] Series of Poker in Las Vegas this yet.” at summer, making him a celebrity 199 Water Street among gamblers. He’ll compete for $9 million during the final J. Crew’s look New York, NY round in November. not good online It’s heady stuff for the 38-year- old Manhattan native, a Borough the web may be the future of of Manhattan Community retail, but J. Crew is still trying to Merrill L. Roth of Newmark Knight Frank College dropout who now lives in figure it out.The apparel company represented SCOR U.S. Corporation. Park Slope, Brooklyn. “I haven’t has yet another embarrassment to done much differently since add to its list of Web failures this winning,” Mr. Schwartz says. “I summer. We gratefully acknowledge the participation of bought some new Birkenstocks.” Though J. Crew introduced Henry Klecan Jr., Esq., Steven Z. Desner, Esq., But he has hired an agent, Madewell two years ago, custo- Maxine H. Verne, Esq. and Ronald D. Micallef of who’s lining up sponsors willing to mers still can’t buy the casual pay to outfit him in style for his chain’s colorful scarves, cardigans SCOR U.S. Corporation and Jonathan Dean and appearance at the tournament’s and stiletto-slim jeans at Dennis Brady of Jack Resnick & Sons, Inc. Final Table, which will be Madewell1937.com.The

bloomberg news televised on ESPN. He will most e-commerce platform portion of likely be wearing a $200 shirt from the site, which was set to launch in The Internet is Manhattan-based Arbitrage, a August, has been delayed until purveyor of designer duds to the next year. a series of tubes likes of Leonardo DiCaprio.The Though Madewell stores are company made him a generous popular, retail experts can’t predict en. john mccain offer, he says. Logos of other firms how the e-commerce side will do admits that he’s not slapped on the shirt could bring in once it gets going. particularly computer- additional cash. “J. Crew announced that this is S an important new business for savvy. He’s not the most them, so I think they’ll be com- popular presidential Publisher bites mitted to making it work,” says candidate on the Web, into canine title Michael Appel, a managing director at Quest Turnaround Advisors. either, with fewer than why should pedigrees gobble 250,000 friends on up the spotlight? A new magazine Facebook versus 1.4 million gives props to mixed breeds. Doing right thing for Democratic rival Sen. Bone-A-Fide Mutts, which hits by Obama Barack Obama newsstands on Sept. 16, will target Long established . “the blue-collar reader,” says director and noted Sen. Barack But Mr. McCain’s people Publisher Tony Obama supporter Spike Lee, seen commitment hope that a revved-up DeStefano. hanging out near the McCainSpace.com might Investing New York delegation Weiser LLP $10,000, he and during the Democratic Certified Public Accountants change his virtual status. Creative Director National Convention last The social network quietly Don Hailer spent a week, says he’s willing to relaunched last week just in year developing stump for the candidate the bimonthly. this fall.The filmmaker time for the Republican The pair’s other campaigned for Mr. to the National Convention this magazines Obama during the primary New York City New York include season. 135 West 50th Street week.The first version New York, NY 10020 business community launched last year with little International His loyalty goes only so Tel 212.812.7000 Tattoo. far, though. Mr. Lee says fanfare. Fax 212.375.6888 For nearly a century,Weiser has provided Mr. he’ll go where he’s needed, Long Island accounting, tax, and consulting services, such “They tried to develop it DeStefano says but only “if I’m not busy. I’ve 3000 Marcus Avenue as state and local tax planning, internal audit on their own, but it didn’t go “elitist” titles like Dog Fancy and got a movie coming out—Miracle Lake Success, NY 11042 outsourcing, and business restructuring, so well,” says Alex Blum, Dog World cover Chihuahuas, at St. Ann.” Tel 516.488.1200 to private clients and business enterprises, Chows and Collies, but Mutts is Other celebs at the convention Fax 516.488.1238 including closely-held and emerging entities, chief executive of Kick- about “real dogs for real people.” included Oscar winner and Westchester in a variety of industries including: Apps, the Manhattan-based With a focus on pet adoption longtime liberal activist Susan 660 White Plains Road tech firm hired to rebuild and animal rescue organizations Sarandon and actress Anne Hathaway. Suite 430 • Real estate like Broadway Barks, founded by Tarrytown, NY 10591 • Manufacturing and distribution the site. Mary Tyler Moore and Bernadette Contributors: Amanda Fung, Adrianne Tel 914.333.0555 • Auto dealerships Fax 914.333.0556 McCainSpace.com is Peters, Mr. DeStefano says he is Pasquarelli, Gale Scott • Media and communication packed with videos, blogs, New Jersey • Banking 399 Thornall Street • Food and dairy forums and other user- HAVE A DRANK Edison, NJ 08837 • Health care generated content, Tel 732.549.2800 • Financial services RED BULL, take a rest. Drank is here to help New Yorkers Fax 732.549.2898 including 2,620 profiles. But • Professional services relax. The grape-flavored beverage, which hit Big Apple www.weiserLLP.com • Not-for-Profit as of Friday, the “Hillary bodegas and corner delis last month, is chock-full of herbal Supporters for McCain” sleep aids like Valerian root and melatonin. It sells for about For more information, contact Douglas Phillips at 212.375.6701. group had attracted only 19 $2.50 a can. members.

6 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 7 8/29/2008 8:54 PM Page 1

Lawyers lose jobs Times Square - The Ultimate Continued from Page 1 cherry-picking talent that competi- off 24 local associates from the same tors are losing. Mr. Burch, for one, group. just hired eight partners away from New York Location Manhattan’s Cadwalader Wick- Thelen Reid last week, including ersham & Taft let go of 35 lawyers at the real estate department chair. the beginning of the year and elim- inated dozens more over the follow- Job opportunities ing few months, ultimately shed- “new york is the most competitive ding 131 of its 720 attorneys.Thelen legal market in the world,” warns Reid Brown Raysman & Steiner Jack Zaremski,president of legal re- followed suit, dropping 26 associ- cruiting firm Hanover Legal. “For a ates and 85 staffers. The New York law firm, either you’re swimming office was hit the hardest, because it well or you’re sinking.” housed much of There are job the firm’s litiga- opportunities for tion, construction ‘We didn’t laid-off attorneys and finance prac- willing to relocate, tices. anticipate that says Margie Some firms are Grossberg, a part- delaying new hires’ things would ner at legal staffing start dates in order spiral down to firm Major Lind- • Entire 5th floor 13,800 sf to save money on sey & Africa and • Available December 2008 salaries. WolfBlock this extent’ co-leader of the • Work letter available to qualified tenants told its incoming firm’s associate • 100% commission paid on signing class of associates practice. • Across from the new New York Times Building that instead of “If people are starting this week, willing to go to • 24/7 building access and building security they should report other cities, plenty • Convenient to all transportation for work in No- of law firms are vember. To discourage them from happy to talk to lawyers with New FOR LEASING INFORMATION PLEASE CONTACT: seeking employment elsewhere, the York ‘Big Law’ experience,” she Grant Greenspan firm is paying them a modest stipend notes. 212-471-4340 • [email protected] of $2,500 per month. Attorney Eric Storz was among the lucky ones. One of the batch of Problems not foreseen first-year associates laid off from THE KAUFMAN ORGANIZATION the magnitude of the economic Thelen Reid in March, the former WWW.KAUFMANORGANIZATION.COM slowdown caught many firms’ man- CPA spent four months job hunt- aging partners by surprise. ing, eventually landing a job at the “We just didn’t anticipate that New York office of Sullivan & things would spiral down to the ex- Worcester.The midsize Boston firm tent that they have,” says Frank was not battered by the credit crisis. Burch, joint chief executive of DLA When Mr. Storz first started Piper. looking several months ago, the “I don’t think you’re going to see landscape seemed bleak. a lot of aggressive expansion of legal “I was able to garner interviews professionals anytime in the near fu- because I had past experience as a ture,” he adds, “though there will be CPA,” he says. “But I’ve heard oth- a small number of smart firms that er people have had a harder time.” will get the timing right.” To that end,firms whose success COMMENTS? is not tied to high finance are [email protected]

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CRAIN’S OFFERS READERS FREE two-week trial subscriptions to its online newsletters, Crain’s Health Pulse and The Crain’s Insider. Pulse deals with the business of health care. It gives details on mergers, contracts, companies’ executive appointments, regulatory actions and legislative developments in the metropolitan New York area. An annual subscription is $319. The one-page newsletter is available by 6 a.m., Monday through Friday. Subscribers receive Pulse Extra, an additional page, on Wednesday mornings. The Crain’s Insider covers political gossip and government and political issues of importance to executives, lobbyists and others interested in the inner workings of city and state government. The one-page newsletter is available by 6 a.m., Tuesday through Friday. An annual subscription costs $269. To request your free trial, go to www.crainsnewyork.com and click on the Health Pulse or Insider headline under “Newsletters” on the right side of the page. Under “Health Pulse Tools” or “Insider Tools,” click on “Request a Free Trial.” After registering, you will receive an e-mail with instructions on accessing the trial issues.

September 1, 2008 | Crain’s New York Business | 7 CNYB 09-01-08 A 8 8/29/2008 7:31 PM Page 1

HARD TIMES FOR NONPROFITS

wide cut that eliminated 58 slots in its full-day universal prekinder- Agencies serving others are now in need garten program. Other organiza- tions have started fitness centers or Continued from Page 3 apportioned. computer classes to attract paying career counseling programs it runs The city implemented a VICIOUS CYCLE: The clientele. are being particularly taxed. 3% across-the-board cut, needs of Big Brothers’ Some groups are dipping into kids are exacerbated by The real trouble for these organ- eliminating more than $75 the downturn, says their endowments to avoid cutting izations began with Wall Street’s million used to support Michael Corriero of Big programs. Children’s Aid is spend- meltdown this past spring. The de- community programs, ac- Brothers with Timeek ing $13 million this year from its mise of Bear Stearns—the firm re- cording to United Neigh- (below left) and Derek $250 million fund to cover costs for quired many of its employees to give borhood Houses. The City (right). program operations. 4% of their annual compensation to Council, typically able to charity—and layoffs at other finan- restore the mayor’s cuts, Scouring budgets cial services companies meant a dis- didn’t this time. Instead, big brothers big sisters Execu- mal spring social season,when many members opted to stave off tive Director Michael Corriero is nonprofits hold their annual galas. cuts to the Department of scouring the operating budget and Education, leaving non- looking for new grants to make up Juggling act profits vulnerable. an expected $1 million shortfall.But spring fundraising events for Vo- Big Brothers Big Sisters he also intends to ask his board to cational Foundation Inc.,a 70-year- dip into the group’s $13 million en- old group focused on youth work- dowment, to avoid having to trim force development, brought in 40% Groups can’t the $10 million budget. less than they had last year.The loss- “We have to continue the level of es forced Chief Executive Hector make it up services for our children,” Mr. Cor- Batista to cut 13% from Vocational’s riero says.“[Their] needs are growing $3.2 million budget.He laid off staff ‘by reducing because of the financial downturn.” and is jettisoning certain benefits the number Groups are also trying to lure that kids in the program receive, gibbons catherine hedge fund managers and venture such as free MetroCards. capitalists, who might not be so af- “It’s a juggling act to make pay- of paper reducing the number of paper clips year, but few in the general public fected by the downturn, to their roll,” Mr. Batista says. clips you use’ you use,” says Stephan Russo, God- have ever heard of the group. It is boards. But that’s not easy for serv- Since the spring, the city and dard’s executive director.“You’re go- changing everything—from its mis- ice groups, which tend not to have state have leveled cuts on agencies ing to have to reduce staff, who are sion statement to its Web site. the cachet of large arts institutions. funding human service nonprofits. working to help other people.” The Children’s Aid Society “In the social service sector,we’re The governor reduced agency All agencies are slashing pro- hopes to raise millions by selling not attracting the super-rich,” says spending by 2% in his initial budget grams and laying off workers. In an property in areas where demand for Nancy Wackstein, executive direc- and by an additional 6% in the spe- effort to keep the bloodletting to a its services isn’t high. Chief Execu- tor of United Neighborhood Hous- cial legislative session held last of New York City lost $650,000 in minimum, groups are scrambling tive C. Warren Moses is already in es. “We don’t have the same kind of month. Lawmakers’ discretionary government funding, and the God- for new fundraising strategies. talks with the city to sell 35 acres on donors as the Metropolitan Muse- funds, much of which go to non- dard Riverside Community Center For example, Vocational Foun- Staten Island. um and Metropolitan Opera.” profits, will be trimmed by $50 mil- was out $135,000. dation is remaking its image. The Riverdale Neighborhood Hous- lion, although the Legislature has “You’re not going to be able to nonprofit helps 1,000 at-risk kids es is now charging parents to help COMMENTS? [email protected] yet to decide how those cuts will be make up for these kinds of cuts by get their G.E.D. and find jobs each compensate for a $2.4 million city- and [email protected]

Verizon searches new horizons CONTACT INFORMATION THE CRAIN’S BEAT SHEET Continued from Page 1 The company needs to act fast. proach has paid off. During the sec- Verizon will have 81 million sub- The wireless market is saturated— ond quarter, Verizon added 1.5 mil- REPORTERS DANIEL MASSEY scribers nationwide, knocking about 89% of adults in the U.S. al- lion new customers, to reach 68.7 REPORTER AT&T, with 71.4 million, off its ready own a cell phone,according to million subscribers. It reported rev- THERESA AGOVINO e-mail: [email protected] pedestal. a recent Harris Interactive poll, and enues of $12.1 billion, up 11.8%. SENIOR REPORTER Covers the New York economy, In addition, after years of fiercely competition is heating up with the AT&T Wireless reported $12 billion e-mail: [email protected] including labor and immigration. guarding a closed network, Verizon emergence of AT&T’s Apple in revenue for the quarter, up 15.8% Covers commercial real estate. announced late last year an ambitious ADRIANNE PASQUARELLI iPhone and Google Android, a new from the same period of 2007. AARON ELSTEIN REPORTER open development initiative and put mobile platform that allows con- Furthermore, the company has SENIOR REPORTER e-mail: [email protected] longtime company executive Antho- sumers to download all sorts of ap- become more amenable to working e-mail: [email protected] Covers apparel and retail. ny Lewis in charge of the effort. plications onto their cell phones. with companies to offer subscribers Covers Wall Street. The project allows customers to For current Verizon subscribers, enhanced services. For instance, in HILARY POTKEWITZ ERIK ENGQUIST hook up more devices to its mobile getting the latest ring tone is still a June,Verizon partnered with Rhap- REPORTER SENIOR REPORTER e-mail: [email protected] network and eventually allow soft- challenge as Verizon limits the de- sody, the MTV Networks and Real e-mail: [email protected] Covers legal issues, transportation and ware developers to create more ap- vices and software programs offered Networks online music store, to al- Covers politics and government, and sports. plications for its phones,a move that on its network to guarantee phone low wireless subscribers the ability works on Crain’s Insider newsletter. would make it more comparable to connections. The carrier, a joint to download music to phones for a GALE SCOTT LISA FICKENSCHER Apple iPhone’s App Store. venture between Verizon Commu- monthly fee of $15. REPORTER SENIOR REPORTER e-mail: [email protected] Verizon expects the initiative to nications and Vodafone Group, has In addition, Verizon joined the e-mail: [email protected] Covers hospitals and insurers, and bring in additional revenue by at- spent more than $42 billion on LiMo Foundation, a consortium Covers tourism, restaurants, hotels. works on Health Pulse newsletter. tracting customers who want to use building its network since 2000. working on a new mobile operating new phones that are not sold direct- system which developers can build MATTHEW FLAMM MATTHEW SOLLARS Saving millions SENIOR REPORTER REPORTER ly by Verizon in its retail stores. De- applications for. Verizon plans to e-mail: [email protected] vices are approved by Verizon’s test while verizon will continue to ap- launch a device next year that will e-mail: [email protected] Covers media and entertainment. Covers politics and government, and lab in Bedminster, N.J., for compat- prove new cell phones, such as the support the new operating system. works on Crain’s Insider newsletter. ibility with its mobile network. So LG Voyager and LG Dare for its The effort has been seen as a com- MIRIAM KREININ SOUCCAR Contributes to “Neighborhood far, Verizon has approved one de- stores, the new open initiative will petitor to Google Android; howev- SENIOR REPORTER Journal” column. vice, but did not provide further save the company millions of dollars. er, Verizon said it may also support e-mail: [email protected] Covers the business of arts and culture. details on it. Verizon says one of its biggest ex- Google’s efforts. “Giving customers a second way penses is subsidizing handsets,which “Today, new software applica- BARBARA BENSON WEB STAFF to connect to the nation’s most reli- allows subscribers to buy phones at a tions are not a burning require- REPORTER able wireless network, while meeting discount from the retail price. ment,” says Mr. Golvin. “It will be e-mail: [email protected] KIRA BINDRIM Works on Health Pulse newsletter. WEB PRODUCER their unique device and application “Going forward, the more hand- more of an issue as people continue e-mail: [email protected]. needs, just makes good business sets that come through the open de- to use their phones in other ways AMANDA FUNG sense,”Patrick Devlin,the company’s velopment path, the greater savings [besides phone calls].This is a good REPORTER ELISABETH BUTLER CORDOVA New York metro region president, for Verizon,” says Charles Golvin, a move for Verizon.” e-mail: [email protected] WEB PRODUCER said in an e-mail. “It’s the right thing senior analyst at Forrester Research. Covers technology and telecom. e-mail: [email protected] to do and the right time to do it.” So far, Verizon’s closed-off ap- COMMENTS? [email protected]

8 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 9 8/29/2008 1:59 PM Page 1

commission, which achieved the same goal, says Manhattan IT’S CONSIDERED A GIVEN in political circles Assemblyman Jonathan Bing,a that Michael Bloomberg will still be Clinton backer. mayor on Jan. 1, 2010, if he decides he THE INSIDER “The commission might not 2008 wants to be. It’s almost certain that the City have happened without those Council will agree to revise the term limits by Erik Engquist and Matthew Sollars Clinton supporters pushing for WATCH law to allow him a third term if he asks, and change,” Mr. Bing says. there are court rulings that say such a move is legal—even though voters have twice voted to restrict city officials to Deutsch scotched two terms in office. Hillary becomes The fate of other politicians, however, is much murkier. as ESDC prez Members of the City Council will find themselves in a tough spot. Dems’ Rules girl “Some of them are going to have a tough time getting re-elected,” says insiders were surprised that Eric campaign strategist Hank Sheinkopf. Hillary Deutsch was not named downstate any of Sen. If council members extend their own terms, Mr. Sheinkopf says, they would Clinton’s supporters, president of the Empire State Development Corp. late last month be vulnerable to negative ads that say: “The people still smarting from when Gov. David Paterson have spoken, but council members think we don’t M matter. They get paid $112,000 a year, plus benefits. their candidate’s narrow defeat, introduced ESDC’s new chief have won a partial victory in an executive, Marisa Lago, and the And have they done a good job? Scandal after upstate president, Dennis Mullen. scandal after scandal. …” effort to ensure that no one The appointment had been And while Comptroller William Thompson would else suffers a similar fate.The thought to be a done deal. likely win re-election if he abandoned his own Rules Committee of the Mr. Deutsch was president mayoral plans, the same can’t be said for Public Democratic Party has of the Alliance for Downtown Advocate Betsy Gotbaum. “She’s vulnerable,” one New York before leaving in 2007 politico says. “She could have a real race on her appointed a commission to to become managing director hands if the right person ran against her.”

study the rules governing at The Clarett Group, a landov primaries and caucuses for developer. Mr. Deutsch pre- viously ran the Brooklyn Navy ‘donate’ to schools,” the foundation traffic levels were flat elsewhere in bloomberg news 2012.The report is due in 2009. Yard. He could not be reached for writes. “Apparently educating the city. comment. children is not important enough to Truck traffic either fell or In meetings that preceded last Of course, the caucus system New Yorkers to fully fund through increased by less than 1% last year week’s Democratic National clearly favored the grassroots taxes.They must be bribed into across the Hudson River, to and from Convention, supporters of Mrs. organization that Sen. Barack Obama Group throws book donating.” Staten Island, and on the New York Clinton had submitted res- put together. Of the 13 states that at school tax plan The bills stalled in committee State Thruway, the New Jersey olutions to the committee that use a caucus, Nevada was the only last session for the second Turnpike, the Garden State essentially would have done state that Mrs. Clinton won. Even bills by state Sen. Serphin Maltese, consecutive year. Parkway and the South Shore away with the caucus system. in Texas, which has both a primary R-Queens, and Assemblyman Dov bridges, newly compiled data show. Clinton supporters are out- and a caucus, she lost the caucus Hikind, D-Brooklyn, to provide a tax The Brooklyn Battery Tunnel saw the raged at the “undemocratic” portion, although she won the credit for donations to public City traffic biggest gain, 12.1%—perhaps nature of caucuses.They com- primary. schools have drawn the ire of the keeps on truckin’ because of construction in lower plain especially about the length While the Clinton supporters’ Tax Foundation, a nonpartisan Manhattan. of the meetings, which dis- resolutions were voted down, the research group. truck traffic across the East Comparable data are not courages voters from showing up, recommendations have been “By claiming the tax credit, you River climbed 3.6% last year, available for the free East River they say. absorbed into the scope of the are forcing other taxpayers to according to 2007 toll records, but crossings. Malcolm in middle moves Willets Point

Development Robert Lieber has al- State senator gets ways been willing to meet with own- parties together; ers, his spokesman contends. “The deputy mayor has said repeatedly deals expected soon that he is not just willing but eager to meet with the businesses,” the spokesman says. “Their reluctance BY DANIEL MASSEY to meet seems to have waned of late, and that’s a good thing.” the icy relationship between The city wants to rezone the grit- the city and landowners in Willets ty industrial area for a development Point, Queens, is beginning to that would include housing, a hotel, thaw, leading some to believe that a convention center, and retail and WWW.11WEST19STREET.COM the pace of property acquisitions in office space. But the landowners CHELSEA • FLATIRON • UNION SQUARE the area, slated for redevelopment, have been afraid that the city will will pick up. seize their properties through emi- Landowners and city officials nent domain. Four months after the FOR LEASING INFORMATION point to state Sen.Malcolm Smith’s project was certified into the land • 26,000 sf intervention as the catalyst leading use process, the city has acquired PLEASE CONTACT: to more meaningful talks.The law- only five properties. That leaves 15 • Full floor identity maker arranged a key meeting be- large landowners with which the Michael Kaufman tween top city development offi- city must make deals. • Newly renovated lobby 212-471-4320 cials and landowners that led to an Mr. Smith’s involvement has al- easing of tensions between the two ready produced results. Jerry An- [email protected] sides. tonacci, one of the most outspoken • NBI for qualified Tenants “Since Malcolm Smith was critics of the plan to transform Wil- Grant Greenspan brought into the picture, it seems lets Point, has signed the fifth land • Close Proximity to 212-471-4340 like the city’s making a good attempt deal, agreeing to sell the 23,000- Transportation [email protected] to reach out to business owners,” square-foot site of his Crown Con- says Thomas Mina,vice president of tainer waste transfer company.Busi- T. Mina Supply. “At least we don’t ness owners say progress has also feel like they’re just going to steam- been made on other deals. THE KAUFMAN ORGANIZATION roll over us anymore.” WWW.KAUFMANORGANIZATION.COM Deputy Mayor for Economic COMMENTS? [email protected]

September 1, 2008 | Crain’s New York Business | 9 CNYB 09-01-08 A 10 8/29/2008 12:50 PM Page 1 Reminder: rag right text

VIEWPOINT Selling ticket licenses adds up editor in chief Rance Crain publisher, vp Jill R. Kaplan olders of season tickets for the The teams are showing concern for less-affluent fans. EDITORIAL New York Giants and New York Because football attracts the most upscale attendees of any editor Greg David managing editor Robert Hordt Jets—or at least those quoted in the pro sport, many season ticket holders can afford the licenses. deputy managing editors Valerie Block, press in recent weeks—are outraged For those who can’t, the Giants are offering PSLs for as little Erik Ipsen contributing editor that they are being forced to buy as $1,000, and the Jets will sell 27,000 seats without fees. Elizabeth MacBride personal seat licenses to keep their True, Jets owner Woody Johnson and the Tisch family, columnist Alair Townsend senior reporters Theresa Agovino, tickets. Here’s an economics lesson for co-owner of the Giants, are rich.The other co-owner, the Aaron Elstein, Erik Engquist, Lisa Fickenscher, Matthew Flamm, Samantha Marshall, fans, as well as for the journalists covering the story. Mara family, is comfortable but not in the same league. No Miriam Kreinin Souccar This is an expensive project. The cost of the new facility matter how wealthy the owners are, though, NFL teams are reporters Barbara Benson, Amanda Fung, H Daniel Massey, Adrianne Pasquarelli, the teams will share in New Jersey is $1.6 billion—the most businesses and must Hilary Potkewitz, Gale Scott, Matthew Sollars ever spent on a football stadium. No one should be provide some return, restaurant critic Bob Lape No matter how art director Steven Krupinski surprised, as every project built in the New York area costs either in annual profit deputy art directors Carolyn McClain, more than it would anywhere else. or in appreciation of Daniel Mednick rich the owners, staff photographer Buck Ennis The teams are footing the bill. The public and media their underlying value. copy desk chief Wendy Zuckerman usually raise a stink because taxpayers get stuck paying for teams are The appropriate copy editors Michele Arboit, Thaddeus Rutkowski stadiums. In this case, the owners of the Jets and Giants are businesses question is what the research editor Denise Southwood alternatives are. Would www.crainsnewyork.com spending their own money for the arena, and the state of web producers Kira Bindrim, New Jersey is putting $300 million into infrastructure public financing be Elisabeth Butler Cordova improvements.The teams are borrowing enormous sums to preferred? No. Would EDITORIAL AND ADVERTISING OFFICES do this and simply can’t carry the burden by themselves. fans be happy if the 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 New York fans are not being singled out. Sixteen NFL teams cut their spending on players to make their debt advertising: 212.210.0259 Cable craincom nyk teams have imposed seat licenses for the same reasons the payments? No. Fax 212.210.0499 Giants and the Jets have—economic necessity. In fact, if the teams perform well on the field, fans might Entire contents ©copyright 2008 Crain Communications Inc. All rights reserved. The licenses are an investment. In effect, these licenses find the licenses the best investment they have ever made. ®CityBusiness is a registered trademark of MCP transfer ownership of the seats from the teams to ticket Inc., used under license agreement. COMMENTS? TO SUBSCRIBE: holders. Fans can sell their PSLs on the open market. [email protected] Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. www.crainsnewyork.com

ADVERTISING AND MARKETING advertising director Jeff Adler LETTERS TO THE EDITOR senior account managers Cornelius P. Gore, William E. Squitieri commercial real estate sales manager Cory Marks account executives Irene Irvill, Courtney McCombs, Anthony Mowad New York: a tech innovation hub western account manager Ellen Mazen (Los Angeles) 323.370.2477 TOP ENGINEERING SCHOOLS, NYC WEB ENTREPRENEUR wealth channel but no institutional sales manager, classified BUT ANTI-BUSINESS FACULTY BATTLING FOR RESPECT investors just yet. print & online John Gallagher jacob l. slevin newsletter product manager Catherine Evans Gittens the statement that one as a web technology Founder sales coordinator, print & online principal reason for the entrepreneur in New York City, I Really Simple Lulé Haznedari disappointing status of technology found Crain’s story entirely on sales coordinator Anita Perrino development in New York lies in point. I co-founded Designer ROCK: FORGET THE ANNEX; credit Todd J. Masura 313.446.6097 the absence of “strong engineering Pages—a user-generated product marketing director Amy Crossman FIX THE SONG marketing manager Jill H. Bottomley schools” (“Tech community wants catalog for architecture and marketing coordinator Jenny Mashberg some respect,’’ Aug. 18) is way off design—in partnership with four i must ask why the Rock and Roll circulation manager Andrea Richardson the mark. highly regarded architecture, Hall of Fame is planning to open assistant circulation manager As CEO of an organization design and engineering firms in an annex in SoHo this fall (Crain’s, Rosalie Ford that has employed many New New York City. Aug. 18). What is the historical general manager, interactive York-educated engineers over the We raised seed capital of significance of this specific site? Marc Minardo web developer, interactive

years, I can assure Crain’s that neff david approximately $500,000 in mid- Downtown Brooklyn near the old Chris O’Donnell there are numerous first-rate and DAVID ROSE, a Manhattan entrepreneur, 2007, launched our Web Brooklyn Paramount or Dion’s highly respected engineering built an incubator to house tech firms. application in October 2007, and Bronx street corner would have NEW YORK PRODUCTION schools in the area, including the after some exciting growth these been more fitting locations. production and pre-press director Michael Corsi ones at City College, Manhattan past nine months have decided to More work must be done to advertising production manager College, Columbia University, affordable housing and work raise Series A Capital. But I too preserve rock ’n’ roll. For starters, a Marilyn DeMilta Polytechnic Institute, Stevens spaces and a faculty attitude that have been advised to either move development program to cultivate Institute of Technology and reveres innovation and new to Boston or the West Coast in the next generation of performers, PUBLISHED BY CRAIN COMMUNICATIONS INC. chairman Keith E. Crain several others. business creation as highly as order to complete the financing. supporting professionals, and president Rance Crain Analysts who have studied the academic achievement. But I am going to hold strong audience members is needed. secretary Merrilee Crain success of Silicon Valley and marvin king, engscd and continue this battle locally. jerry jaworski treasurer Mary Kay Crain Route 128 have suggested that President and chief executive We’ve received commitments for Executive producer executive vp, operations William Morrow what New York lacks are Riverside Research nearly $1 million from the private Minor League Productions senior vp, group publisher Gloria Scoby group vp, technology, circulation, manufacturing Robert C. Adams vice president/production & manufacturing David Kamis WHAT’S COMING UP IN CRAIN’S? chief information officer Paul Dalpiaz corporate circulation director Small Real Executive New Real Small Patrick Sheposh business estate travel Influentials estate business founder G.D. Crain Jr. (1885-1973) report report report report report report chairman Mrs. G.D. Crain Jr. (1911-1996) Sept. 8 Sept. 15 Sept. 22 Sept. 29 Oct. 6 Oct. 13

10 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 11 8/29/2008 1:21 PM Page 1

fourth time.Voters tire of their may- ors and retire them, voluntarily or involuntarily. Finally,I worried that special in- terests would have an outsize influ- ence on Council elections. With a number of candidates contesting each seat and the difficulty most have in raising money, municipal unions could call the shots by select- ing candidates and throwing their manpower and money behind them. That, too, has happened. What I did not expect, and what has not happened, is that term lim- its would entice different kinds of candidates for the City Council. It seemed that some supporters of term limits thought that business- people would throw down their fig- urative plows and seek to do their civic duty. In 2001, when term limits were taking effect on many members of the Council, there were more than john h.john howard 100 candidates vying for 38 open seats. I reviewed their biographies, and found that most were relatives of outgoing members, members of the state Legislature,government work- The limitations ers and some lawyers. The largest group was comprised of so-called community activists—grassroots of term limits workers on behalf of tenants’ rights, low-income housing, women’s is- sues, gay rights and the like. There ike bloomberg appears to want a third term was one businessperson. He lost. as mayor.It’s causing a kerfuffle in some quar- The candidates for the district that encompassed Wall Street in- ters because the city voters twice said they cluded a labor organizer, a civil wanted local officials limited to two terms, a rights attorney, a community board maximum of eight years. I’m with the mayor manager and the directors of organ- on this one. izations for Asian-Americans and M for gay and lesbian Democrats. I voted against term limits. I thought two terms was too Would more businesspeople run if they could hope for 12 years in office? short a time, especially were elected. That has I doubt it, but I’m willing to hope. I for members of the City happened. do believe the extra years would im- Council. I believed that I also had some con- prove the quality of the Council. too much institutional fidence in the voters to I think Mike Bloomberg has been knowledge would be throw out the bad guys, a good mayor and merits four more lost as newcomers although there was years. Those seeking his job don’t struggled to master the scant confirmation of measure up. They may well be the complexities of the is- this fact regarding the candidates in 2013 if Mr.Bloomberg sues facing them. That City Council. The is allowed to run for a third term and has happened. strongest piece of evi- wins. I hope the City Council pass- I also thought that dence is that, since the es legislation enabling local officials for people who are ca- ALAIR city was consolidated in to have three terms. Then let the reer politicians—and TOWNSEND 1898, only three may- voters decide whether Mr. Bloom- most of them are—a ors were elected three berg earns their vote again. two-term limit would times (Fiorello H. La mean they would be running for Guardia, Robert F. Wagner and COMMENTS? their next office as soon as they Edward I. Koch), and none for a [email protected]

CRAIN’S ONLINE POLL Should the Jets and the Giants sell stadium seat licenses? 189 VOTES No. It’s pure greed. Yes. The fans will benefit Date of poll: Aug. 26 They have fans over a from a new stadium; why barrel because . shouldn’t they pay? demand for season 4% .47% 8%. Yes. Given the high tickets is so high cost of stadium construction, it’s the only way teams can No. Fans aren’t cover the cost owners; why should they shell out money .41% up front to pay for the stadium? ap images For this week’s questions: Go to www.crainsnewyork.com/poll to have your say.

September 1, 2008 | Crain’s New York Business | 11

For readers’ comments see Letters to the Editor on Page 12 CNYB 09-01-08 A 12 8/29/2008 2:41 PM Page 1

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

Marvel-inspired characters for the ECONOMIC SPOTLIGHT Japanese market. Madhouse will Property titan’s produce the first of four new series, scheduled to launch in $17M fraud spring 2010.The deal is meant to help extend Marvel’s reach REAL ESTATE MOGUL Paul internationally. Hochfelder, founder and former chairman of Max NY State AG Capital Management Corp., was arrested on charges that eyes Goldman he cheated banks, family new york attorney general Andrew Cuomo is investigating members and other victims whether brokers at Fidelity out of more than $17 Investments sold auction-rate million. Mr. Hoch- securities underwritten by Goldman Sachs Group Inc. in felder, who could face exchange for incentives and other up to 25 years in services.The investigation is part prison, allegedly of Mr. Cuomo’s widening probe of secured loans from the $330 billion auction-rate securities market, which collapsed banks, business in February. partners and relatives by forging signatures Fight for flights and claiming he had a the port authority of New stake in property he York and New Jersey joined a never owned. lawsuit against the federal Economy Watch government’s plan to auction buck ennis takeoff and landing slots at New With the first of the Wall Street layoffs showing up, the city’s jobless rate 2003 Staten Island ferry crash. York area airports.The suit, filed rose in June, and the total number of jobs declined. Lehman boosted The agreement comes six months earlier this month by the Air MAY ’08 JUNE ’08 COMPARISON by buyout chatter after a $9 million settlement Transport Association, follows the NY area inflation change +1.0% +1.0% +4.5%1 between the city and a victim who authority’s proposal earlier this shares of lehman brothers lost both of his legs in the same month to bar the recipients of any NYC unemployment rate 5.2% 5.4% 5.5%2 Holdings Inc. were buoyed by crash. slots that carriers receive through NYC employment change -300 -1,000 +12,7003 rumors that the bank is narrowing the FAA auctions.The FAA 1-NY area inflation change for the latest 12-month period. 2-U.S. unemployment rate for the down possible buyers for its delayed plans to implement the latest month. 3-NYC employment change year to date. Neuberger Berman investment Rolling Stone system at Newark’s airport. management unit. ... State-run taps publisher NYC Hotel Stats Broadway Stats Korea Development Bank said it was eyeing a stake in Lehman, wenner media named Men’s City planners Occupancy and room rate declined Attendance and box-office gross which is expected to lay off Journal publisher Will OK 125th Street in July, PKF Consulting data show. both dropped during the week 1,500 employees soon in Schenck to take over as Year-to-date averages—at 85.5% ended 8/24 after several weeks of what would be its fourth publisher of Rolling the city’s Planning Commission and $296.80, respectively—topped flat results, according to The Broad- round of job eliminations. Stone. Mr. Schenck voted in favor of rezoning the those for the same period in ’07, way League. Figures did top those succeeds Stone eastern portion of Harlem’s 125th which were 84.4% and $275.36. for the comparable week last season. Jets’ pricey publisher Ray Street, moving one step closer to Chelstowski, who will the development of a 1.7 million- seat plan leave to pursue other square-foot, mixed-use complex opportunities. there. A developer for the project the new york jets will be chosen before the City announced a personal seat Phelps’ latest gold Council takes a final vote on license plan that will charge rezoning in October. season ticket holders between michael phelps snagged an —from staff reports and $4,000 and $25,000 for seats at estimated $1.6 million advance bloomberg news reports the 82,500-seat stadium the Jets from the Free Press imprint of will share with the New York Simon & Schuster for his second Giants.The Jets will not charge and latest book, Built to Succeed. fees for the stadium’s 27,000 Waxman Literary Agency, upper-level seats, which will run working with Mr. Phelps’ Giants fans $1,000. longtime talent manager Peter Carlisle, brokered the deal, which Capital IQ’s Weekly Deals Report Rubin loses had a $1 million floor price. TRANSACTION SIZE COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE Citigroup post Potter predicament Evercore Partners Inc. $120.0 Mizuho Corporate Bank, GCI former treasury secretary time warner inc.-owned Warner Manhattan investment arm Robert Rubin took on the title of Bros. sued an Indian production Gentiva|CareCentrix Inc. $109.0 Water Street Healthcare Partners FB M&A Melville, L.I. “senior counselor” at Citigroup company over its Hari Puttar: A Inc. and gave up his chairmanship Comedy of Terrors, claiming the Verified Identity Pass Inc. $44.4 Baker Capital, Lehman Brothers GCI Manhattan private equity division, Syncom of the bank’s newly dissolved movie’s title is too similar to Management Co., Lockheed Martin Corp., executive committee. Citi Warner’s Harry Potter franchise. GE Security Inc., Spark Capital, Management spokespeople said Mr. Rubin’s role Puttar’s producers say the film’s of Verified Identity Pass Inc. at the bank will remain plot bears no resemblance to the Marks USA Inc. $26.0 Napco Security Systems Inc. SB M&A unchanged, though insiders Harry Potter series. Amityville, L.I. speculate the committee’s ZocDoc Inc. $3.0 Khosla Ventures GCI dissolution indicates a demotion. Manhattan Marvel inks Selected deals announced during the week of Aug. 17 for companies headquartered in metro New York. FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing Ferry fight settled Japanese deal shares of a company with the participation of a financial buyer. GCI: Growth capital investment represents new money invested in a company for a minority stake. SB M&A: Strategic buyer the city will pay $8.7 million marvel entertainment inc. is ap images M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. to settle a wrongful death suit filed partnering with Japanese anime HARLEM REZONING moves forward as the NYC Planning Commission OKs project. paul grange paul by the widow of a victim of the studio Madhouse Inc. to create

12 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 13 8/28/2008 7:48 PM Page 1

BUSINESS OF FASHION INSIDE Accessories come to fore as quick fashion fixes PAGE 15 “Rachel Roy’s investors are not dumb. Look at the potential.” —Jennifer Black, apparel and retail analyst, Page 16 The puzzle of pleasing over-35s Hipper approach needed to lure turned-off, time-starved group

BY YLONDA GAULT CAVINESS

all across the country, Lloyd Boston keeps meeting the same woman. Whether she’s an at- FASHION home mom or a career woman, she is juggling half WEEK a dozen roles. She has confidence, she has money and she has sex appeal, whatever the date of birth LUCA LUCA, printed on her driver’s license. bolstered by new owner, But she has precious little time. Buying stylish pulls out all clothes, still a favorite indulgence, has become a the stops chore. For her, shopping is “the fashion equivalent of speed dating,” observes Mr. Boston, the author of Be- fore You Put That On, who conducts dozens of in-store fashion clinics a year.“She is willing to spend,but she wants fresh, hip and age-appropriate, and she needs to make it happen fast.” However, as tanking sales figures show, it’s just not happening. Through June, female shoppers 35 and over cut purchases of personal apparel by 7% versus the same period in 2007, according to research istockphoto from NPD Group. Specialty chains such as Talbots and Ann Taylor will close hundreds RACHEL ROY keeps it of stores through the fourth quarter.Recent reports from Jones Appar- intimate, even el and Liz Claiborne, which own dominant department-store with a big brands,show continuing sales erosion; sales fell by a combined $100 backer million in the second quarter alone. Page 16 Nicole Miller’s president,Bud Konheim,notes that the majority of executives—most of whom are men, by the way—miss the essence of this shopper as they “analyze and focus-group her to death.” This in- dividual may be 35-plus on paper, but she believes the age-defying zeitgeist that hails “40 as the new 30” and dubs her “fabulous at 50.” In other words, she thinks younger—and looks younger, too. See PUZZLING on Page 15

the fashion set is a notoriously hookup—high-end designer and Oldham and Old Navy will appear chemistry produces a potent market biting clique. So early this year, mass-marketer—in the face of a at stores. force. Increased when news of a partnership be- steady economic slowdown during Five years after Target set off A strong label can lure new cus- tween luxury designer Norma Ka- which apparel is being hit especial- a fashion revolution by landing tomers and reinvigorate the en- mali and Wal-Mart Stores hit the ly hard. This fall alone, mixed mar- Isaac Mizrahi, not even the most thusiasm of existing shoppers. The designer- blogosphere, the posts were less riages between the likes of Kim- hoity-toity of Seventh Avenue bottom line? Premium fashion, than charitable toward the dis- ora Lee Simmons and JCPenney, denizens dare look down their noses which can rake in higher margins— counting giant. Dana Buchman and Kohl’s, Pat- at the popular partnership game. 10% and up, some experts esti- retailer They shuddered at the thought rick Robinson and Gap, and Todd The incentive is clear: The right See DESIGNER on Page 14 of mixing with the masses. They hookups sniped about Wal-Mart’s “dingy” MASS-CLASS stores. Yet TheBudgetBabe.com, for COMBOS defy results one,concluded that the startling col- SEEK CHAIN laboration “will have effectively se- REACTION duced this frugal fashionista to cross Norma Kimora Lee Dana Patrick Todd Isaac Mizrahi-Target that murky consumer threshold and A number of designers Kamali Simmons Buchman Robinson Oldham Mizrahi shop their depressing big-box once are partnering with the collection hits the racks.” retailers to launch synergy sought, but sportswear lines this fall. Ka-ching? Stores hope for new sales may not spark Not so fast. enthusiasm among Everyone in the fashion indus- shoppers; designers look BY CATHERINE CURAN try wants to be in on the hottest to gain credibility.

September 1, 2008 | Crain’s New York Business | 13 CNYB 09-01-08 A 14 8/28/2008 7:50 PM Page 1

REPORT

YOU CAN’T GET THE FASHION DISTRICT Designer-retailer ties Times Square MORE Port 42nd Street MIDTOWN Authority Bryant Park Continued from Page 13 customer in mind in terms of price THAN THIS! mate—boosts profitability. and style.” Before Isaac Mizrahi jumped to This time around, Wal-Mart When it comes to location, the Fashion District Liz Claiborne earlier this year, his will play trendy with far more cau- 5th Avenue has it all: a midtown Manhattan address, premiere Avenue 8th label reportedly accounted for about tion:Norma Kamali,a ’70s icon,will $400 million of Target’s annual ap- start out in only 350 stores. tenants, convenient transportation, restaurants, parel and accessories sales, or 3%. theaters, shopping, galleries and more! Penn Station 34th Street But while the fashion industry en- Wal-Mart’s year? joys the steak,it also needs the sizzle. some analysts predict that Wal- In addition to bolstering sales, Mart—a fashion stepchild, de- Mr. Mizrahi burnished the reputa- spite its many attempts—just might LOOK WHO’S HERE! tion of the Minneapolis-based re- find its inner princess this sea- WHO tailer—known with wry affection as son and best its fairer rival, Tar- C.A.R.E. is a leading Tar-zhay—among jaded New get. The bull’s-eye chain is seeing humanitarian Yorkers. The marketing coup same-store sales sputter as its sol- organization, with 12,000 branded Target as a hip style center, idly middle-class following sticks employees worldwide, empowering women and not merely a place to find deals on to the basics, where price, not families in the fight bulk toilet paper. The cur- style, rules. Conversely, economic- against global poverty. rent crop of copycats stimulus checks and belt-tighten- hopes that the formula is ing appear to be bracing Wal- WHAT WHERE a winning one. Mart’s sales. 7,900 sq. ft. 32 West 39th Street “With Fred Astaire “The weak economy could and Ginger Rogers, he play out in discounters’favor,”says gave her class and she Marie Driscoll, a senior re- BROKERS gave him sex appeal,” search analyst at Standard Michael Berger, GVA Williams observes David & Poor’s in Manhattan. Cynthia Wasserberger & Randy Abend, Wolfe, the cre- “The middle is where the Jones Lange LaSalle ative director of pinch will be the most The Doneger painful.” Group. “It’s the With retailers’ love same kind of of designer brands no ® www.fashioncenter.com synergy: longer unrequited, the ® Stores get to industry may see even elevate a fash- more fashionable ion image,and hookups before the designers gain end of the year. credibility.” The stigma is It remains to be long gone, given seen how image and sex the tough times. appeal will play this season And, unlike tradi- amid consumer concerns tional vendor rela- such as high food prices, in- tionships, these creased energy gettyimages partnerships pose costs and mount- minimal risks for ing home foreclo- Isaac Mizrahi fashion companies. sures. When The stores actual- Mizrahi launched burnished ly own the brands, at Target, the col- so apparel firms lection was a novel the reputation needn’t worry about concept, and the returned goods or economy was in of ‘Tar-zhay’ reimbursements high gear. Now the for marked-down field is swarming, merchandise. and consumers are “When you hurting. make a bet on it,it’s “Right now, we see Americans yours,” points out Jim Rice, a senior paring expenses altogether,” says analyst at credit advisory group Pam Goodfellow, senior analyst at Creditntell, speaking of the retail- consumer research firm BIGresearch ers’ stake. in Columbus, Ohio. But the biggest advantage for the designers is one that few of them Marital problems will discuss openly: The pacts are even if consumers opt to follow usually no more than glorified li- their fashion passions, mass-class censing transactions—a name game, unions are risky. After all, strange essentially. bedfellows can be, well, strange. Sure, Norma Kamali officially In 2006, George, a trumpeted says:“My life dream has been to pro- partnership between Wal-Mart and mote self-esteem for women. … designer Mark Eisen, met with Now I have the opportunity with resounding failure. Seemingly Wal-Mart to … fulfill this dream.” blind to its customer base—who But it’s improbable that she will ac- wouldn’t know Mark Eisen unless tually take sketchpad in hand to fill they also shop at Bergdorf—the Wal-Mart’s racks. She will likely Bentonville, Ark.-based discounter just approve designs. rolled out his line of sportswear, “The bottom line is, these deals priced between $22 and $70, to spread your name to middle Amer- about 3,000 stores. ica on a big retailer’s back,” says one “You have to stick to your knit- apparel executive. “Then you take ting,” says Dana Telsey,chief execu- the revenue and plow it into your tive of research firm Telsey Adviso- high-end line.” ry Group. “What George taught us is that it’s about keeping your core COMMENTS? [email protected]

14 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 15 8/28/2008 7:52 PM Page 1

REPORT BUSINESS OF FASHION

tio than the industry standard. Last quarter, the Philadelphia- Puzzling over-35s based company saw same-store sales ACCESSORIES ADORN THE RACKS increase by 10%.S&P’s Ms.Driscoll HENRI BENDEL IS NOT HOLDING BACK. Crossing the threshold of the gracious says one of the reasons that Anthro- Continued from Page 13 ble women’s retailer last year and pologie can post such healthy sales Fifth Avenue specialty store, shoppers find a larger-than-life assortment of “It’s been a complete disconnect quickly pronounced that “dowdy is is that women actually enjoy them- bright beaded necklaces, vividly colored handbags and chunky cuff bracelets. between women and the industry dead” as she initiated her three-year selves there. An Anthropologie In case you miss the not-so-subtle hints, this season is all about for a while now,” says Marie Dris- turnaround plan for the brand. shopper spends roughly an hour in accessories. “I’m noticing a lot more scarf and handbag offerings this year,” coll, who follows fashion for Stan- This fall’s collection is filled with the store,she says.Most retailers are says Sara Hearn, an urban planner at Parsons Brinckerhoff who shops at dard & Poor’s research. “Now that decidedly unfrumpy shaped slacks lucky to get 15 minutes. several Manhattan specialty boutiques. the troubles are clear, what’s not and sleek sheaths. It marks the first Eileen Kamson typifies the cus- In the face of weak apparel sales, bold accessories will be the must- clear is how to fix it. You can’t keep season of a style vision for women tomer whom designers and retailers haves. Handbags, jewelry, shoes and other quick fashion fixes raked in more pushing women umpteen versions who are best understood not by age want to reach. The 35-year-old than $70 billion in sales last year nationwide; that figure may climb by as of the same black suit.” but by stage, she says.“We will nev- Brooklynite was just promoted to vice much as 10% this season, experts say. Unless that black suit is a track er be a trendy brand,” says Ms. Sul- president of a European media con- Manufacturers have scrambled this summer to get a bigger slice of the suit. Juicy Couture began as a mak- livan. “We’re sticking to a classic glomerate. Ms. Kamson, the mom of growing accessories business. G-III Apparel Group inked a deal to produce a er of pricey sweats. Since its acqui- timelessness. But that can mean fun twin sons, needs to look fashionable. new Andrew Marc-branded line of shoes. Through its New York subsidiary, Li & sition by Liz Claiborne in 2000, the and easy—not staid, not so serious.” But she has just about abandoned Fung of Hong Kong paid $330 million for Manhattan-based Kathy Van company has grown dramatically. store shopping altogether.“Earlier in Zeeland, a company that designs handbags carried by department stores Sales have risen to $422 million What goes around comes around my career, it was Banana Republic. such as Macy’s and Dillard’s. Hat Attack, a high-end milliner in the Bronx, from $50 million, with second- companies that are succeeding are Then I got tired of seeing everyone in plans to hike production of its berets and fedoras by 20% to meet soaring quarter sales growth of 48% versus a tapping into something bigger than my outfit,” she says. demand, says co-founder B.J. Gedney. year earlier. Comparable-store sales fashionable clothes.Anthropologie, This season,Nordstrom.com is a Not all accessories will be on solid footing. Big-statement jewelry, large rose 13%. And Juicy has grown far a division of Urban Outfitters that particular favorite. “It does a great totes and satchel handbags will outpace more classic beyond its one-note product line, caters to women 30 to 45, gets it. job organizing its dress site; pants pieces, such as stud earrings and small clutches. expanding into jeans, dresses, The largely mall-based stores sell can be problematic, but you can’t To bolster sales, retailers need to create more sportswear and accessories. ethnic, preppy, and frilly clothing in lose with a dress,”Ms.Kamson says. value in items by “adding a point of Juicy could sell women almost an environment that evokes an exot- In short, style and connection differentiation from last season,” says anything,because the founders’phi- ic vacation spot or an intriguing with the youthful shopper are key. Roseanne Cumella, senior vice president of losophy appeals to women of a cer- roadside antique shop; its fanciful “When you give her an emotion- merchandising at fashion consulting firm The tain age who enjoy life and see their home products are sprinkled al connection,” says Shaun Kearney, Doneger Group. —ADRIANNE PASQUARELLI clothes as a way to express that. throughout the mix, not relegated to creative director at contemporary That ethos is also guiding Tal- a separate department. Of course, brand Cynthia Steffe, “she just has bots, now under the stewardship of close attention to details doesn’t hurt. to have it; it’s worth the splurge.” GLITTER TURNS TO GOLD: Firms like Nine West new President Trudy Sullivan. The A line of private-label pants, for ex- are hitting the jackpot as apparel sales weaken. industry veteran joined the venera- ample, has a higher hip-to-waist ra- COMMENTS? [email protected]

JOE TORRE ON THE ART OF MANAGING “Believe me, a team mentality improves your odds.”

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September 1, 2008 | Crain’s New York Business | 15 CNYB 09-01-08 A 16 8/28/2008 7:43 PM Page 1

REPORT BUSINESS OF FASHION Label pairs backers’bucks with an intimate style

frey—have come to admire. On verge of big time, RACHEL ROY Her show will be up close and founder sticks to roots, personal: Ms. Roy will greet buyers and editors and walk them through keeps her cool; needs the collection, piece by piece.

ap images to build on potential Ms. Roy’s feminine touches, like luminous fabrics and girly yet clas- RACHEL ROY sic styles, appeal to women who can BY YLONDA GAULT CAVINESS afford $500 slacks and $1,400 dress- Designer drama 1998 Rachel Roy begins as an es. In a single evening last month, at some designers get by on their intern at Roca Wear an appearance at a Nordstrom in business sense; others, their fashion Chicago, her collection racked up he extravaganza that is New York Fashion sense. But often, the key to success is 2004 The designer $100,000 in sales. Week comes with high drama, high stakes— plain old common sense.That’s why launches her own Rachel Roy will not tent her col- collection of feminine Smart money and a high price. At Bryant Park, the tents lection in Bryant Park, the official dresses and separates “her investors are not dumb. alone go for about $25,000 to $50,000, and scene of Fashion Week. to rave reviews Look at the potential,” says Jennifer production costs easily triple that amount. Ms.Roy remains prudent even 2006 Rachel Roy is Black, an analyst who heads an As designers display their wares, beginning Sept. 5, the now, when her three-year-old inducted into the eponymous apparel and retail re- T firm is financially more stable Council of Fashion search firm in Portland, Ore. “Her international showcase will be about celebrity, lighting, than ever. Designers of America appeal was already growing, but this staging, models, sponsors, seat assignments and—oh, yeah, “It’s a reflection of the econ- suddenly makes her a player.” clothes. omy,but also who I am,”says Ms. 2007 TSM Capital, The Jones deal’s seismic potential co-founded by Marvin “Ego is a huge factor; designers need a hefty one,” says Roy, 33, who plans an intimate, is not lost on Ms. Roy, who is mar- off-site presentation of her col- Traub, invests in the ried to hip-hop entrepreneur Da- Michael Londrigan, chairman of the fashion department at lection,not an extravagant blow- label mon Dash. But, ever the pragmatist, the Laboratory Institute of Merchandising. “And fashion is, out.“That kind of expense is ob- 2008 Jones Apparel she also sees immediate benefits. after all, an image business. Fashion Week is the time to scene for someone like me.” Group acquires a 50% “This is a huge deal, because it partnership stake means I can pay vendors on time,get send a message.” On the brink clothes shipped when they’re sup- Luca Luca and Rachel Roy are two labels whose with estimated revenues of some posed to be, and unload some of the founders have urgent points to get across this season, and $3 million, Rachel Roy is not huge. vin Traub, acquired a 22% interest. stresses of being a small, independ- each is determined to be heard.The collections will speak But if you follow the money behind Such powerful backing can catapult ent business,”says Ms.Roy.“It’s like the small, luxurious brand, it is clear a respected talent from an atelier to I have a big brother to help me out.” volumes about their designers’ creativity and brand position. that it can reach big-time status. a world-class stage. But family ties are not panaceas. The houses are taking two distinctly different tacks: Luca This summer, $3.8 billion behe- It’s important for her to convey More than a year since Liz Clai- Luca will show in Bryant Park, with all the glamour, drama moth Jones Apparel Group bought at Fashion Week that despite her borne acquired Narciso Rodriguez’s and boldface names its tent will hold. Rachel Roy has a 50% stake in Rachel Roy.This deal new backing, she is essentially label, the company’s deep pockets came just six months after invest- the same creatively driven design- have failed to ignite the brand. chosen an intimate, off-site venue, more open house than ment firm TSM Capital,founded by er that fans of her work—including spectacle. Here are their stories. former Bloomingdale’s chief Mar- Anna Wintour and Oprah Win- COMMENTS? [email protected]

the fashion world that the brand is front, making one-of-a-kind pieces strong and better than ever. for well-heeled New Yorkers. Over Financially sound designer Luca Luca is coming back with time,his influence and his sales grew. the glitzy show under the tents that “Luca represents a dying breed of the industry is waiting for,says Pres- fashion companies,”says Constance ident Yildiz Blackstone. It will fea- White, eBay style director, who gets back in glitzy game ture 50% more ensembles than the likens the label to Valentino. “He pared-down February collection.Its burst on the scene and built his busi- expanded line of ready-to-wear ness bit by bit, with no major store “Designers want the shows to dresses, eveningwear and separates support, handbag license or corpo- Returns to world project fabulous power and energy,” LUCA ORLANDI will celebrate form-fitting glamour. rate umbrella—just growth on the stage with a bang; says Michael Londrigan, chairman Executives will not say whether strength of high-end design.” of the fashion department at the the firm will replicate the much-dis- hopes to prove its Laboratory Institute of Merchan- cussed dramatic elements of past Expansion in the works renewed prowess dising. “Fashion insiders scrutinize shows, such as its red metallic run- equitium, which aims to wake up every detail. When something isn’t way or futuristic ski wonderland. the brand, will open more stores, quite right, the speculation starts.” LUCA LUCA “We want it to be a surprise,”says beef up advertising and expand the BY TINA TRASTER Luca Luca may have a block- Ms. Blackstone, “but let’s just say line. Luca Luca is now sold through buster image but, with estimated 1992 Luca Luca launches with the show will be true Luca Luca seven of its own stores and fewer luca orlandi, an Italian textile revenues of about $15 million and a Madison Avenue boutique DNA, with a little more attention than 50 boutiques nationally and scion, built his Luca Luca brand in- no outside backing, it had to get its 1996 The firm launches its to structure and detail.” abroad. Equitium intends to double dependently and quietly. Although house in order to play in the majors. Insiders say Luca Luca is a the number of company-owned lo- wholesale operation his clothes adorn the likes of Halle throwback to a time when a lone cations over the next five years. Berry,Paris Hilton and Beyoncé, he Doing a 180 1999 Luca Luca makes its artist could ply his trade and cap- Friedrich von Tucher, an Equi- seldom seeks the limelight. when last season’s Fashion Week Fashion Week debut ture the world’s attention. tium principal who has taken over as Except at Fashion Week, that is. dawned, Mr. Orlandi was shopping 2006 The firm initiates talks Mr. Orlandi was born into a Luca Luca’s chief operating officer, Starting in the late 1990s, Luca his firm around to potential suitors. with The Astor Group to help generations-old Milanese textile says that a strategic marketing effort Luca’s runway spectacles command- This spring, he agreed to sell it to find an acquisition partner business that supplied some of will transform the business from one ed the largest of Bryant Park’s tents The Equitium Group, a Miami in- the top French and Italian fash- that has been “like a mom-and-pop with their übersexy collections and vestment firm formed by veteran 2008 The Equitium Group, an ion houses.He came to New York organization” into a sophisticated fanciful production. So last season, McKinsey & Co. consultants. investment firm for the luxury with enviable assets:family mon- operation extending to Europe, when a Chelsea loft space was the As Fashion Week rolls around market, buys Luca Luca for an ey and great production contacts. Southeast Asia and the Middle East. backdrop for about 20 ensembles, this time, management plans to use undisclosed sum He launched his firm in 1992 industry tongues wagged. the international showcase to tell out of a Madison Avenue store- COMMENTS? [email protected]

16 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 17 8/28/2008 7:46 PM Page 1

REAL ESTATE DEALS Employment firm growing in Times Square

open positions but no room for new tenants won’t be disturbed by noise New space will let employees. from the studio, according to tenant Investment bank BountyJobs Inc. hire GVA Williams brokers Harry broker Howard Poretsky of Colliers moving NYC office Blair and Sean Kearns represented ABR. 12 more workers the landlord, the Research Founda- Thomas Hettler of The investment bank Caris & Co. has tion of the City University of New Lawrence Group negotiated for the signed a three-year lease for 7,200 ountyjobs inc. is quad- York. landlord, 32-42 Broadway Owner. square feet at 500 Fifth Ave., at 42nd rupling its space with a Brian Waterman and Brent —theresa agovino Street. Asking rent was $69 a square five-year lease for a total Ozarowski of Newmark Knight foot. of almost 9,400 square Frank negotiated for BountyJobs. Headquartered in Del Mar, feet at 230 W. 41st St.,be- —theresa agovino Textile firm likes Calif., the firm is moving its New Btween Seventh and Eighth avenues. feel of new digs York office to the 16th floor of the Asking rent was $48 a square foot. 59-story Art Deco building before The company, which connects Knitwear designer soho fabrics,a supplier to garment its sublease at 1250 Broadway ex- employers and headhunters consolidating manufacturers, is moving its head- pires in November. through an online marketplace, quarters to 237 W. 35th St., between The spaces are about the same took about 8,000 square feet—the contemporary knitwear maker Seventh and Eighth avenues. Ask- size, but the new office has a more entire 14th floor—and 1,400 square QI Cashmere will more than double ing rent was $37 a square foot. The efficient layout, according to Jared feet on the 11th floor. It plans to its space with a move to 260 W. 39th St. ENGINE ROOM AUDIO got top-floor space at textile firm has Freede of GVA move from its 2,500 square feet at 12 The company recently signed a five- 42 Broadway. signed a three- Williams, who year lease for 2,500 square feet on the year lease for represented the second floor of the building, between Orbach,a managing partner at West 1,200 square feet tenant. Seventh and Eighth avenues. Asking 39-260 Realty Associates. on the 10th floor. “It’s a fantastic rent was $42 a square foot. —adrianne pasquarelli It is moving from location for them Six-year-old QI Cashmere, a nearby location because it’s close to which sells its designs at specialty to lower overhead their clients near shops and department stores, in- Space sounds good and to be in a loft- Grand Central,” cluding Olive & Bette’s, Barneys to recording studio like property with Mr. Freede says. and Bloomingdale’s, wants to com- a more relaxed at- “The landlord bine its sales, merchandising and engine room audio has signed a mosphere. 237 W. 35TH ST. is slightly off the garment had a brand-new design divisions at a single location. 13-year lease for 9,000 square feet— “It’s a little district track, which suits Soho Fabrics. prebuild, and the “Our business has grown expo- the entire 22nd floor—at 42 Broad- away from the installation was nentially,” says Jean Kolloff, QI way, between Beaver Street and Ex- heart of the gar- perfect for the Cashmere’s owner. The merchan- change Place.Asking rent was about ment center,which is perfect for us,” trading component of their busi- dising and design operations have $35 a square foot. says Soho Fabrics President Bill ness, with a large open area and been housed separately because the The recording studio,which cur- Harris. “We’re not a high-profile Bryant Park views,”Mr.Freede adds. firm’s 1,200-square-foot headquar- rently occupies 3,000 square feet at company; we don’t need the glitz Brokers Harry Blair and Sean 230 W. 41st St. will be BountyJobs’ home. ters on West 35th Street can’t ac- 245 Canal St., plans to move in ear- and glamour of top buildings.” Kearns, also of GVA Williams, ne- commodate them. ly 2009. Howard Rosenblum of the gotiated on behalf of the building’s E. 44th St. by early October. QI Cashmere plans to move in Engine Room was attracted to Kaufman Organization negotiated owner, 500 Fifth Inc. Erica Walsh, senior manager of the next few weeks. Kaufman Orga- the space because of its 20-foot ceil- for the tenant; Michael Kaufman, Caris & Co. plans to relocate in business development,says Bounty- nization broker John Schiliro han- ings and lack of columns, which also of the Kaufman Organization, September, after minor renovations Jobs needs the extra space because it dled the deal for the tenant. The makes layout design easier. Because represented the landlord. at the new space are finished. has been growing rapidly. It has 12 landlord was represented by Michael the space is on the top floor, other —adrianne pasquarelli —damian ghigliotty

SMALL BUSINESS Time marches from the terminal onto the Web

WatchBatteryCentral.com, with ment costs between $7.95 and $25. the past few days,getting everything Longtime watch some of the same qualities that have Other options for retailers in- set for our debut at the show at the shop in New York allowed the tiny, 340-square-foot clude using images of a mom-and- Javits Center,” reads one entry in Central Watch to thrive:quality,per- pop’s shop actual retail location or mid-August. landmark expands sonalized service and a no-frills style. establishing a blog, which imparts Central Watch’s site has grossed The site specializes in providing some of the personal atmosphere $40,000 so far, versus the store’s an- service online battery replacement for a wide array nual revenues of $600,000. of watches but also offers bands and “Comparing the site to the shop BY DAMIAN GHIGLIOTTY repairs. ‘Comparing the is like comparing David to Goliath Transferring the atmosphere of a right now,” Mr. Kivel says.“The site entral watch Band small shop to the Web is possible, site to the shop is lower in cost and easier to main- ON ITS FACE: The site was designed to be Stand has been in busi- says Christopher Boey, whose tain, but the shop still makes a big- easy and straightforward for customers. ness selling and repair- eponymous firm designed a Web is like comparing ger profit.” ing watches for 56 site for Grande Harvest Wines, an- “What keeps their business going AT A GLANCE years at the same loca- other Grand Central resident. David to Goliath’ is that they’re genuinely nice people Ction in Grand Central Terminal,but “You give the site a soft and easy and they really know what they’re WATCHBATTERY when it came time to expand, the feel, from the copy to the spacing doing,” says Leonard Grunstein, a CENTRAL.COM owners looked elsewhere. and navigation,”Mr.Boey says.“On lawyer and patron of the store. Not to another location, but to corporate sites,we squeeze in a lot of “That’s a rare combination these LAUNCHED 2007 the Internet. copy.” and chattiness of a physical store. days, and it carries over to the site,” With retail rents topping $200 a Andrew and Anna Hellman of says Mr. Grunstein, who now refers EMPLOYEES 2 square foot in the railroad station, Clean copy Norwalk,Conn.,started their table- his busiest friends and colleagues to REVENUES $40,000 the owners decided to set their ex- at watchbatterycentral.com, ware business, Teroforma.com, in the online operation. “It’s just more pansion sights online. customers find a uncluttered site March 2006. They blog regularly, convenient for those who prefer the PRICES $7.95 to $25 for Last July, third-generation co- that describes the business. Cus- sharing the joys and challenges of Internet to get things done.” most battery replacements owner Steven Kivel, 37, and his wife, tomers are mailed a free shipping running a small business. and other services Laura, spent $30,000 to launch box for their watch.Battery replace- “We’ve been racing around for COMMENTS? [email protected]

September 1, 2008 | Crain’s New York Business | 17 nb35p18-20cls.qxp 8/28/08 12:16 PM Page 18

REAL ESTATE PUBLIC & LEGAL NOTICES

AUCTION AUCTION Notice of Qualification of Selectinvest Notice of Qualification of KG Funds MultiStrategy Enhanced LP. Authority filed Managing Member LLC. Authority filed with Secy. of State of NY (SSNY) on with Secy. of State of N.Y. (SSNY) on Real Estate and Arcade Asset Auction 07/30/08. Office location: New York 7/24/08. Office location: NY County. LLC Auction on-site Saturday October 4th at 10am County. LP formed in Delaware (DE) on formed in Delaware (DE) on 6/18/08. Real Estate to Sell at Noon...Preview & Registration at 8am 07/09/08. Principal office of LP: 30 SSNY designated as agent of LLC upon Open Friday Oct. 3rd from Noon-7pm Rockefeller Plaza, Suite 2800, New York, whom process against it may be served. 2280 Lakeland Dr, Flowood MS, 39208 NY 10112. SSNY designated as agent of SSNY shall mail process to princ. bus. Lakeland Dr. Frontage, Traffic Light Access - Just outside of Jackson, MS LP upon whom process against it may be loc.: The LLC, c/o Kier Global LLC, 1775 Former family entertainment facility in high traffic corridor on Lakeland Drive located at a served. SSNY shall mail process to: c/o Broadway, Ste. 604, NY, NY 10019, Attn: signalized intersection. Frontage, visibility and signage on Lakeland is excellent. Property UBPAM (GP) LLC, Attn: David G. Logan, Isaac Kier. DE address of LLC: c/o United consists of the following : 20,555 SF +/- ice rink; a 20,000 SF +/- arcade with party facilities and laser tag area; go-cart track; (2) 18-hole mini. golf courses; 8 batting cages; and, additional 30 Rockefeller Plaza, Suite 2800, New Corporate Services, Inc., 874 Walker storage building. Property consists of 7.5 +/- acres with an additional 14 +/- acres available York, NY 10112, registered agent upon Road, Ste. C, Dover, DE 19904. Cert. of with Pearl River water frontage. Property lines up to possible future river development. whom process may be served. Arts. of Form. filed with DE Secy. of State, 401 Approx. 59,000 Cars per day. Call today for a brochure or visit us online for more photos! Org. filed with Harriet Smith Windsor, Federal St., Dover, DE 19901. Purpose: Rose Auction Group, LLC Rob Storment Frank Edens Secretary of State of the State of any lawful activity. 877-696-7653 Contents Auctioneer Broker, Auctioneer Delaware, Division of Corporations, John Bid online at RoseAuctionGroup.com SuperAuctions.com MS Lic# 206 G. Townsend Bldg., Federal & Duke of Notice of Qualification of CWCI Enhanced Beth Rose, CAI Auctioneer twolakesms.com Edens Auctions York Streets, Dover, DE 19901. Purpose: Yield Capital Partners LLC. Authority filed To invest in and/or trade securities and/or with Secy. of State of NY (SSNY) on other financial instruments. 07/24/08. Office location: New York COMMERCIAL RETAIL County. LLC formed in Delaware (DE) on Notice of Qualification of STRS Ohio NY 12/01/06. SSNY designated as agent of Real Estate Portfolio, LLC. Authority filed LLC upon whom process against it may with Secy. of State of NY (SSNY) on be served. SSNY shall mail process to: ARKING 08/11/08. Office location: New York c/o Corporation Service Company, 80 P County. LLC formed in Delaware (DE) on State Street, Albany, NY 12207, registered 08/07/08. Principal office of LLC: 275 E. agent upon whom process may be Broad Street, Columbus, OH 43215. SSNY served. Principal office of LLC: One 20-30,000 SQUARE FEET designated as agent of LLC upon whom Charles River Place , 63 Kendrick Street, process against it may be served. SSNY Needham, MA 02494. Arts. of Org. filed INDOOR GARAGE shall mail process to c/o Corporation with SOS, DE, Division of Corporations, Service Company, 80 State Street, Albany, John G. Townsend Bldg., 401 Federal NY 12207. Arts. of Org. filed with Delaware Street, Suite 4, Dover, DE 19901. PUBLIC & LEGAL Secretary of State, Division of Purpose: Any lawful activity. MIDTOWN MANHATTAN Corporations, John G. Townsend Bldg, 401 NOTICES Federal Street, Dover, DE 19901. Purpose: Notice of Qualification of 46th Street EAST 54TH ST Any lawful activity. Platinum Holding Company, L.L.C. Authority filed with Secy. of State of NY NOTICE OF FORMATION OF LIMITED LIA- Notice of Qualification of Maximus (SSNY) on 07/17/08. Office location: New BILITY COMPANY. NAME: E & M MEDIA Multimedia International LLC. Authority York County. LLC formed in Delaware (DE) HOLDINGS, LLC. Articles of Organization Good for fleet car user filed with NY Dept. of State on 8/19/08. on 07/15/08. SSNY designated as agent of were filed with the Secretary of State of Office location: NY County. LLC formed in LLC upon whom process against it may be New York (SSNY) on 08/06/08. Office NV on 4/23/08. NY Sec. of State designat- served. SSNY shall mail process to: c/o location: New York County. SSNY has ed as agent of LLC upon whom process SJP Properties, Morris Corporate Center Crain's ClassifiedAvailable is not for responsible forbeen corrupt designated files as submitted agent of the by LLC client upon or adsagainst run it under may be the served wrong and subheading.shall mail IV, 379 Interspace Parkway, Parsippany, NJ whom process against it may be served. process to: c/o CT Corporation System, 07054, registered agent upon whom SSNY shall mail a copy of process to the 111 8th Ave., NY, NY 10011, regd. agt. process may be served. Principal office of long term lease LLC, c/o Michael Medico, c/o Impart upon whom process may be served. LLC: 379 Corporate Center IV, Parsippany, Media Advertising, 462 7th Avenue, 8th Principal office addr.: 1520 W. Altorfer Dr., NJ 07054. Arts. of Org. filed with Secretary [not for public parking] Floor, New York, New York 10018. Peoria, IL 61615. Arts. of Org. filed with of State, State of Delaware, Division of Purpose: For any lawful purpose. NV Sec. of State, 202 N. Carson St., Corporations, John G. Townsend Building, Carson City, NV. Purpose: any lawful activity. 401 Federal Street, Dover, DE 19901. 224 REALTIES LLC, a domestic Limited Purpose: Any lawful activity. (212) 575-5335 Liability Company (LLC) filed with the Notice of Qualification of SCOA Sec of State of NY on 5-9-08. NY Office Residential, LLC. Authority filed with NY Notice of Qualification of CRESTVIEW location: New York County. SSNY is des- Dept. of State on 8/7/08. Office location: PARTNERS II (CAYMAN), L.P. Authority ignated as agent upon whom process NY County. Principal business addr.: 600 filed with Secy. of State of NY (SSNY) on To place your classified ad call against the LLC may be served. SSNY 3rd Ave., NY, NY 10016. LLC formed in DE 07/02/08. Office location: New York County. LP formed in Cayman Islands on John Gallagher @ 212-210-0189 shall mail a copy of any process against on 9/22/98. NY Sec. of State designated as the LLC served upon him/her to agent of LLC upon whom process against 10/26/07. SSNY designated as agent of Steinberg & Pokoik Management Corp., it may be served and shall mail process to: LP upon whom process against it may be 575 Madison Ave., 7th Fl., NY, NY 10022. c/o CT Corporation System, 111 8th Ave., served. SSNY shall mail process to: c/o M&C Corporate Services Limited, P.O. CAREER EVENT General purposes. NY, NY 10011, regd. agt. upon whom process may be served. DE addr. of LLC: Box 309GT, Ugland House, South Church Notice of Qualification of ELITE TIME 1209 Orange St., Wilmington, DE 19801. Street, George Town, Grand Cayman, Wall Street Business & Disability Group LEASING LLC. Authority filed with Secy. of Arts. of Org. filed with DE Sec. of State, Cayman Islands, registered agent upon National Business & Disability Council State of NY (SSNY) on 04/14/08. Office Townsend Bldg., Dover, DE 19901. whom process may be served. Arts. of www.nbdc.com location: New York County. LLC formed in Purpose: any lawful activity. Org. filed with Registrar of Exempted Limited Partnerships, Ground Floor, Citrus By Invitation Only Delaware (DE) on 03/27/07. Principal office of LLC: 801 Second Ave., NY, NY 10017. NOTICE OF FORMATION of Dalmatian Grove Building, Goring Avenue, George Career Event for SSNY designated as agent of LLC upon Consulting Group, LLC. Arts. Of Org. filed Town, Grand Cayman, Cayman Islands. Crain’swhom process Classified against is it notmay responsiblebe served. forwith corrupt Secy. Of files State submitted of N.Y. (SSNY) by on client or adsPurpose: run under Any lawful the activity. wrong subheading. College Students and Experienced Professionals with Disabilities 4/25/08. Office location: New York County. SSNY shall mail process to: c/o The LLC, Notice of Formation of Elmer Smathers, Interested in Careers in: SSNY designated as agent of LLC upon Attention: David Bernstein, 801 Second LLC. Arts. of Org. filed with NY Dept. of Avenue, New York, NY 10017. Cert. Of whom process against it may be served. • Accounting • IT Systems & State on 7/25/08. Office location: NY SSNY shall mail process to principal busi- Change filed with SSNY on 5/2/08 chang- County. Principal business addr.: c/o • Consumer Banking Technology ing name to Horluxe LLC. Arts. of Org. filed ness location: 18 Stuyvesant Oval, #9A, • Financial Services • Operations Sarah G. Rubin, JPMorgan Chase Bank, with Secretary of State of Delaware, 401 NY, NY10009. Purpose: Any lawful activity. N.A., 345 Park Ave., NY, NY 10154. Sec. • Investment Banking • Risk Management Federal Street, Suite 4, Dover, DE 19901. of State designated as agent of LLC upon Purpose: Any lawful activity. Name: PAROD’S 3303 LLC Art. Of Org. Please specify area of interest whom process against it may be served Filed Sec. Of State of NY 6/20/08. Off. and shall mail process to: CT Corporation Participating Companies will include: Notice of Formation of 362 Casanova Loc.: New York Co. SSNY designated as System, 111 8th Ave., NY, NY 10011. agent upon whom process against it may AIG, Barclays Capital, Bloomberg, Deloitte, Federal Reserve Bank of NY, Street, LLC. Arts. of Org. filed with Secy. Character: Investment, real estate devel- of State of NY (SSNY) on 7/16/08. Office be served. SSNY to mail copy of process opment and oil and gas development. Goldman Sachs, HSBC, JPMorgan Chase, KPMG, UBS, and others location: NY Co. SSNY designated as to THE LLC 100 Park Avenue, Ste. 1600, Friday, September 26, 2008 agent of LLC upon whom process against NY, NY 10017. Purpose: Any lawful act. Notice of Qualification of SOUND POINT New York City it may be served. SSNY shall mail process OPPORTUNITIES GP, LLC. Authority filed to: The LLC, 1536 Third Ave., 3rd Fl., NY, Notice of Formation of 31 West 21st Street Submit resume by September 10, 2008 at the latest to [email protected] with Secy. of State of NY (SSNY) on NY 10028. Purpose: any lawful activities. Equities LLC. Arts. of Org. filed with Secy. 08/20/08. Office location: New York of State of NY (SSNY) on 07/23/08. Office County. LLC formed in Delaware (DE) on DATA BANDWIDTH TELEPHONE EQUIPMENT NOTICE OF FORMATION OF LIMITED LIA- location: New York County. Principal busi- 07/31/08. Principal office of LLC: 623 BILITY COMPANY. NAME: STUDIO 814 ness location: 55 Fifth Ave., 15th floor, Fifth Avenue, New York, NY 10022. SSNY Need More Bandwidth? WILL BUY ALL LLC. Articles of Organization were filed New York, NY 10003-4398. SSNY desig- designated as agent of LLC upon whom OFFICE TELEPHONE EQUIPMENT with the Secretary of State of New York nated as agent of LLC upon whom process against it may be served. SSNY T-1/DS3/OCx/Ethernet - DIA/P2P Please Call: 212-Richard. (SSNY) on 04/17/08. Office Location: NY process against it may be served. SSNY shall mail process to Stephen J. Ketchum, Please Call: 212-742-4273 shall mail process to and registered agent Port pricing as low as $6/Mbps County. SSNY designated as agent of the 623 Fifth Avenue, New York, NY 10022. LLC upon whom process against it may upon whom and at which process can be Arts. of Org. filed with Delaware Secretary Major Carriers. Limited Time. be served. SSNY shall mail process to the served is: Robert Kantor, 55 Fifth Avenue, of State, Corporations Division, First and Call Yosef at 212-644-9000 x327 WWW.CRAINSNEWYORK.COM LLC, 814 Broadway, 4th Floor, NY, NY, 15th Floor, New York, NY 10003-4398. Federal Street, Wilmington, DE 19801. 10003. Purpose: Any lawful act. Purpose: Any lawful activity. Purpose: Any lawful activity.

18 | Crain’s New York Business | September 1, 2008 nb35p18-20cls.qxp 8/28/08 12:06 PM Page 19

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 Crain'sserved. SSNY Classified shall mail is process not responsible to: c/o CT forlocation: corrupt New files York submitted County. SSNY by has client or adsSSNY run shall under mail theprocess wrong to: c/o subheading. 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 Manhattan Purpose: any lawful activities Dermatology, PLLC. Arts. of Org. filed F & F 88 LLC, a domestic Limited Liability NOTICE OF QUALIFICATION OF 65TH Notice of Qualification of Rockefeller & with NY Dept. of State on 7/11/08. Office Notice of Qualification of CRESTVIEW OFF- SHORE HOLDINGS II (FF CAYMAN), L.P. Company (LLC) filed with the Sec of State PLACE, LLC. Application for Authority Co. U.S. Small Capitalization Fund, L.P. location: NY County. Secy. of State desig- Authority filed with Secy. of State of NY of NY on 3-20-08. NY Office location: New filed with the Secretary of State of New Authority filed with Secy. of State of NY nated as agent of PLLC upon whom York on June 12, 2008. N.Y. Office (SSNY) on 07/23/08. Office location: New York County. SSNY is designated as (SSNY) on 5/29/08. Office location: NY process against it may be served and Location: New York County. LLC formed York County. LP formed in Cayman Islands agent upon whom process against the County. LP formed in Delaware (DE) on shall mail process to the principal busi- in Nevada on April 8, 2008. SSNY has on 11/08/07. SSNY designated as agent of LLC may be served. SSNY shall mail a 3/28/1994. SSNY designated as agent of ness addr.: 71 Park Ave., Ste. 1A, NY, NY copy of any process against the LLC been designated as agent of LLC upon LP upon whom process against it may be LP upon whom process against it may be process against it may be served. The 10016. Purpose: practice the profession served. SSNY shall mail process to: c/o CT served upon him/her to Frederic Kantor & served. SSNY shall mail process to: c/o of medicine. Co., P.C., 45 W. 36th St., 7th Fl., NY, NY P.O. address to which the SSNY shall mail Rockefeller & Co., 30 Rockefeller Plaza, Corporation System, 111 Eighth Avenue, a copy of any process against the LLC New York, NY 10011, registered agent 10018. General purposes. NY, NY 10112. DE address of LP: c/o Notice of Formation of J.K. AGENCY LLC. Crain’sserved upon Classified him is C/O is the not LLC: responsible for corrupt files submitted by client or ads run under the wrong subheading. upon whom process may be served. Arts. Corporation Trust Center, 1209 Orange Arts. of Org. filed with Secy. of State of Notice of Qualification of BRULANT, LLC. Salvatore Favia; 6933 Exeter Street, Forest St., Wilmington, DE 19801. Name/address of Org. filed with Registrar of Exempted Hills, NY 11375. A copy of the Articles of N.Y. (SSNY) on 4/18/08. Office location: Limited Partnerships, Ground Floor, Citrus Authority filed with Secy. of State of NY of genl. ptr. available from SSNY. Cert. of NY County. SSNY designated as agent of (SSNY) on 7/15/08. Office location: NY Organization with all amendments thereto LP filed with DE Secy. of State, 401 Grove Building, Goring Avenue, George shall be provided upon request. Such LLC upon whom process against it may Town, Grand Cayman, Cayman Islands. County. LLC formed in Delaware (DE) on Federal St., Ste. 3, Dover, DE 19901. be served. SSNY shall mail process to: 6/12/08. SSNY designated as agent of request should be sent to Salvatore Favia Purpose: any lawful activities. Purpose: Any lawful activity. at the above address. The Principal Jeffrey Spielsinger, 226 W. 47th St., 3rd LLC upon whom process against it may Fl., NY, NY 10036. Purpose: any lawful Notice of Formation of Synergy Dental Business Address of the LLC is: 1645 Notice of Formation of Appena Fatto LLC. be served. SSNY shall mail process to activity. Management, LLC. Arts. of Org. filed with princ. bus. loc.: c/o Rosetta LLC, 100 Village Center Circle, Ste. 170, Las Vegas, Arts. of Org. filed with Secy. of State of Secy. of State of NY (SSNY) on 08/19/08. American Metro Blvd., Ste. 201, Hamilton, NV 89134. Purpose of LLC: Real Estate. N.Y. (SSNY) on 7/3/08. Office location: NY Notice of Formation of RT BOOKS LLC. Office location: New York County. NJ 08609, Attn: Kurt Holstein. DE address County. SSNY designated as agent of LLC Arts. of Org. filed with Secy. of State of Principal office of LLC: 18 East 50th of LLC: 2711 Centerville Rd., Ste. 400, NOTICE OF FORMATION OF REGISTERED upon whom process against it may be N.Y. (SSNY) on 5/13/08. Office location: Street, 8th Floor, New York, NY 10022. Wilmington, DE 19808. Arts. of Org. filed LIMITED LIABILITY PARTNERSHIP. Crain'sserved. SSNY Classified shall mail is notprocess responsible to princ. for corrupt files submitted by client or ads run under the wrong subheading. NY County. SSNY designated as agent of SSNY designated as agent of LLC upon with DE Secy. of State, Loockerman & NAME: DICKLER AND ROTH, LLP. bus. loc.: c/o Pasta Resources, 45 E. 20th Certificate of Registration was filed with LLC upon whom process against it may whom process against it may be served. Federal Sts., Dover, DE 19901. Purpose: St., 3rd Fl., NY, NY 10003. Purpose: any the Secretary of State of New York be served. SSNY shall mail process to: SSNY shall mail process to the LLC at the any lawful activity. lawful activity. (SSNY) on 08/01/08. Office location: New The LLC, c/o Maurice Kassimir & Assoc., address of its principal office. Purpose: York County. SSNY has been designated 1065 Ave. of the Americas, 10th Fl., NY, NOTICE OF FORMATION OF LIMITED LIA- Notice of Qualification of 73-77 West Any lawful activity. as agent of the LLP upon whom process NY 10018. Purpose: any lawful activity. BILITY COMPANY. NAME: LAND ZONE 132nd Street Holdings, LLC. Authority against it may be served. SSNY shall mail Notice of Formation of TERZETTO LLC, a LLC. Articles of Organization were filed filed with NY Dept. of State on 8/12/08. a copy of process to the LLP, 19 Fulton Notice of Formation of Spoon Foods NYC domestic LLC. Arts. of Org. filed with the with the Secretary of State of New York Office location: NY County. Principal busi- Street, Suite 402, New York, New York LLC. Arts. of Org. filed with NY Dept. of SSNY on 04/25/08. Office location: NY (SSNY) on 08/20/08. Office location: New ness addr.: 110 E. 59th St., 20th Fl., NY, State on 7/10/08. Office location: NY County. SSNY has been designated as York County. SSNY has been designated 10038, which is also the location of the Crain’s Classified is not responsible for corrupt files submitted by client or ads run under the wrong subheading. NY 10022. LLC formed in DE on 8/7/08. County. Secy. of State designated as agent agent upon whom process against the as agent of the LLC upon whom process partnership. Purpose: For the practice of NY Sec. of State designated as agent of of LLC upon whom process against it may LLC may be served. SSNY shall mail a against it may be served. SSNY shall mail the profession of Law. LLC upon whom process against it may be served and shall mail process to the copy of process to: 1627 Broadway, NY, a copy of process to the LLC, c/o Berliner Notice of Qualification of GS Mount Kellett be served and shall mail process to: CT & Pilson, Esqs., 80 Cutter Mill Road, Suite principal business address: 17 W. 20th NY 10019. Purpose: Any Lawful Purpose. Capital Partners Access Fund, L.P. Corporation System, 111 8th Ave., NY, NY 411, Great Neck, New York 11021. St., NY, NY 10011. Purpose: any lawful Authority filed with Secy. of State of N.Y. 10011, regd. agt. upon whom process Notice is hereby given that a license, Purpose: For any lawful purpose. activity. (SSNY) on 7/25/08. Office location: NY may be served. DE addr. of LLC: 1209 number 1212795 for liquor has been County. LP formed in Delaware (DE) on Orange St., Wilmington, DE 19801. Arts. NOTICE OF FORMATION of Micro Office applied for by the undersigned to sell NOTICE OF FORMATION of Marimba 7/17/08. SSNY designated as agent of LP of Org. filed with DE Sec. of State, 401 Solutions 4 LLC. Arts. Of Org. filed with liquor at retail in a restaurant under the Films LLC. Arts. Of Org. filed with Secy. upon whom process against it may be Federal St., Dover, DE 19901. Purpose: Secy. Of State of N.Y. (SSNY) on 5/8/06. Alcoholic Beverage Control Law at 403 Of State of N.Y. (SSNY) on 5/20/08. Office served. SSNY shall mail process to: 85 any lawful activity. Office location: New York County. SSNY West 43rd Street, New York, NY 10036 Crain’s Classified is not responsible forlocation: corrupt New files York submitted County SSNY by desig- client or adsBroad run St., under NY, NY the 10004. wrong DE address subheading. of designated as agent of LLC upon whom Notice of Qualification of JPMorgan U.S. for on premises consumption. Applicant- nated as agent of LLC upon whom LP: 2711 Centerville Rd., Ste. 400, process against it may be served. SSNY Direct Corporate Finance Institutional Blague Corp. process against it may be served. SSNY Wilmington, DE 19808. Name/address of shall mail process to: 122 West 27th Street, Investors IV LLC. Authority filed with shall mail process to principal business each genl. ptr. available from SSNY. Cert. 10th Fl., NY, NY 10001. Principal business Notice of Formation of SOUTH BEDFORD Secy. of State of NY (SSNY) on 7/9/08. location: 203 East 7th Street, 2nd Fl., NY, of LP filed with DE Secy. of State, location: 122 West 27th Street, 10th Fl., NY, ORAL & MAXILLOFACIAL SURGERY Office location: NY County. Princ. bus. NY 10009. Purpose: Any lawful activity. Townsend Bldg., Dover, DE 19901. PLLC, a Professional LLC. Arts. of Org. loc.: c/o Proskauer Rose LLP, 1585 NY 10001. Purpose: Any lawful activity. 1053701 w.o Purpose: any lawful activity. filed with the SSNY on 05/16/08. Office Broadway, Rm 23-78, NY, NY 10036. LLC REDBRICK VENTURES LLC Articles of location: NY County, the county was Notice of Formation of Just Intimates NOTICE OF QUALIFICATION OF 1870 formed in Delaware (DE) on 4/21/08. Org. filed NY Sec. of State (SSNY) amended to Westchester on 08/25/08. SSNY designated as agent of LLC upon LLC. Arts. of Org. filed with Secy. of State MADISON LLC. Application for Authority 7/30/08. Office in NY Co. SSNY desig. SSNY has been designated as agent upon whom process against it may be served. of NY (SSNY) on 7/2/08. Office location: filed with the Secretary of State of New agent of LLC upon whom process may be whom process against it may be served. SSNY shall mail process to: c/o NY County. Princ. bus. loc.: 1407 York on June 12, 2008. N.Y. Office served. SSNY shall mail copy of process SSNY shall mail a copy of process to: Corporation Service Company (CSC), 80 Broadway, Rm. 3701, NY, NY 10018. Location: New York County. LLC formed to 244 Madison Ave., NY, NY 10016, Jason Baker, 81 Pheasant Run, Millwood, SSNY designated as agent of LLC upon in Nevada on July 16, 2007. SSNY has State St., Albany, NY 12207. DE address NY 10546. Purpose: To Practice The of LLC: c/o CSC, 2711 Centerville Rd., which is also the principal business loca- whom process against it may be served. been designated as agent of LLC upon tion. Purpose: Any lawful purpose. Profession Of Dentistry. SSNY shall mail process to: Corporation process against it may be served. The Ste. 400, Wilmington, DE 19808. Cert. of Service Co., 80 State St., Albany, NY P.O. address to which the SSNY shall mail Form. filed with DE Secy. of State, Notice of Formation of Pure Element 12207, registered agent upon whom a copy of any process against the LLC Townsend Bldg., Dover, DE 19901. Apparel LLC, Art. of Org. filed Sec’y of process may be served. Purpose: any served upon him is C/O the LLC: Purpose: any lawful activity. State (SSNY) 6/18/08. Office location: NY Coming Up lawful activity. Salvatore Favia; 6933 Exeter Street, Forest County. SSNY designated as agent of LLC on the Calendar MIRAVOS LLC, a domestic Limited Hills, NY 11375. A copy of the Articles of upon whom process against it may be Liability Company (LLC) filed with the Sec Notice of Qualification of The Wylie Organization with all amendments thereto served. SSNY shall mail copy of process September 8th Crain's Classified is not responsible for corrupt files submitted by client or adsof State run underof NY on the 7-7-08. wrong NY subheading.Office loca- Agency LLC. Authority filed with Secy. of shall be provided upon request. Such to 32 W. 33rd St., NY, NY 10001. Small Business tion: New York County. SSNY is designat- State of NY (SSNY) on 07/21/08. Office Crain'srequest should Classified be sent is to not Salvatore responsible Favia for corrupt files submitted by client or adsPurpose: run under any lawful the activities. wrong subheading. location: New York County. LLC formed in at the above address. The Principal ed as agent upon whom process against September 15th Delaware (DE) on 07/09/08. LLC agrees Business Address of the LLC is: 1645 the LLC may be served. SSNY shall mail Notice of Qualification of CRESTVIEW Real Estate to use fictitious name of Andrew Wylie Village Center Circle, Ste. 170, Las Vegas, a copy of any process against the LLC PARTNERS II (FF CAYMAN), L.P. Authority LLC while conducting business in NY. NV 89134. Purpose of LLC: Real Estate. served upon him/her to Maud Maron/ the filed with Secy. of State of NY (SSNY) on September 22nd SSNY designated as agent of LLC upon LLC, 682 Broadway, 8D, NY, NY 10012. 07/24/08. Office location: New York Executive Travel NOTICE OF FORMATION OF LIMITED General purposes. whom process against it may be served. County. LP formed in Cayman Islands on September 29th SSNY shall mail process to: c/o LIABILITY COMPANY. NAME: GRAND 11/08/07. SSNY designated as agent of LP Corporation Service Company, 80 State BOWERY BRIGHT, LLC. Articles of JUDAH LLC, a domestic Limited Liability upon whom process against it may be New Influentials Company (LLC) filed with the Sec of State Street, Albany, NY 12207, registered Organization were filed with the Secretary served. SSNY shall mail process to: c/o CT October 6th of State of New York (SSNY) on 04/08/08. of NY on 6-18-08. NY Office location: New agent upon whom process may be Corporation System, 111 Eighth Avenue, Real Estate served. Principal office of LLC: 250 West Office location: New York County. SSNY York County. SSNY is designated as New York, NY 10011, registered agent 57th Street, Suite 2114, New York, NY has been designated as agent of the LLC agent upon whom process against the upon whom process may be served. Arts. Call John Gallagher upon whom process against it may be LLC may be served. SSNY shall mail a 10107. Arts. of Org. filed with Secretary of Org. filed with Registrar of Exempted @ 212-210-0189 of State of Delaware, Division of served. SSNY shall mail a copy of process copy of any process against the LLC Limited Partnerships, Ground Floor, Citrus Corporations, John G. Townsend Bldg., to the LLC, c/o Dr. Howard Lai, 11 East served upon him/her to The LLC, C/O Grove Building, Goring Avenue, George to place your classified 401 Federal Street, Dover, DE 19901. Broadway, #15, New York, New York Gatsby Enterprises, 347 5th Ave., 16th Fl., Town, Grand Cayman, Cayman Islands. advertisement today Purpose: Any lawful activity 10038. Purpose: For any lawful purpose. NY, NY 10016. General purposes. Purpose: Any lawful activity.

September 1, 2008 | Crain’s New York Business | 19 CNYB 09-01-08 A 20 8/28/2008 8:25 PM Page 1

THE WEEKS AHEAD

THIS WEEK’S EVENTS Greenberg Lounge, Vanderbilt Hall. 9:45 a.m., Covington & Burling, 620 networking reception. 10 a.m. to 4 p.m., Brooklyn Chamber of Commerce and SEPTEMBER 3 Free. (212) 998-6849. Eighth Ave., 46th floor. Fee: $50 Metropolitan Pavilion, 125 W. 18th St. Khenkin & Sauchik hold seminar on the New York Public Library holds SEPTEMBER 9 members, $100 nonmembers. Fee: $10. (212) 655-4505. pitfalls of commercial leases. 8:30 a.m. to information session on business startup National Association of Women (212) 751-4691. SEPTEMBER 10 10:30 a.m., 9 Bond St., fifth floor. Free. resources and services. 3:15 p.m. to 4:30 Business Owners holds breakfast for SEPTEMBER 9 Business Development Academy holds (718) 875-3400 or p.m., 188 Madison Ave., lower level. entrepreneurs. 7:30 a.m. to 9:30 a.m., Queens Economic Development Corp. networking reception. 5:45 p.m. to 7:45 [email protected]. Free. (212) 592-7800. 225 E. 86th St. Fee: Free for members; holds open house on business planning. p.m., Eaton & Van Winkle, 3 Park Ave., SEPTEMBER 3 $35 nonmembers in advance, $45 6 p.m. to 8 p.m., Queens Borough Hall, 16th floor. Fee: $25 members, $45 SEPTEMBER 15-21 Manhattan Review holds information nonmembers at the door. 120-55 Queens Blvd. Free. nonmembers. (609) 919-1895, ext. 100, SEPTEMBER 15 session on accent reduction and business (212) 252-1100 or [email protected]. (718) 263-0546 or or [email protected]. F2F Speed Networking holds English. 7 p.m. to 8:30 p.m., Graybar SEPTEMBER 9 [email protected]. SEPTEMBER 10 networking reception. 5:30 p.m. to 8 Building, 420 Lexington Ave., suite Staten Island Business Outreach Center SEPTEMBER 9 New York Investing Meetup holds p.m., OfficeFurniture.net, 10 2310. Free. (212) 997-1660 or Women’s Business Center holds 21st- Glow International Group holds lecture on the banks and brokers most Commercial St., Brooklyn. Fee: $35. [email protected]. century businesswoman conference. 8:30 seminar on financing strategies. 7 p.m. likely to fail. 6:30 p.m. to 8:30 p.m., (718) 757-6933. SEPTEMBER 4 a.m. to 2:30 p.m., Staten Island Hotel, to 8:30 p.m., Studios 353, 353 W. 48th Microsoft, 1290 Sixth Ave. Fee: $5. SEPTEMBER 16 New York Society of Security Analysts, 1415 Richmond Ave. Fee: $55. St., second floor. Fee: $10. Advance Advance registration required. Financial Career Expo holds Bloomberg and Climate Group hold (718) 816-4775 or [email protected]. registration required. (212) 255-7327. networking reception. 12 p.m. to 6 p.m., program on green portfolios and carbon SEPTEMBER 9 (201) 484-7223 or SEPTEMBER 10 Hilton New York, 1335 Sixth Ave. Free. regulation. 4 p.m. to 7 p.m., 731 Business Development Institute and PR [email protected]. Applied Retail Technologies, Retail (212) 655-4505 or Lexington Ave. Free. Advance Newswire hold breakfast on innovation SEPTEMBER 10 Systems and Services and DRC [email protected] registration required. and communications. 8:30 a.m. to 11:30 New York City Midtown Coaching Solutions hold seminar on assortment SEPTEMBER 16 (646) 747-5446. a.m., CUNY Graduate Center, 365 Center holds seminar on professional planning. 8 a.m. to 12 p.m., Marriott Foundation for Accounting Education SEPTEMBER 5 Fifth Ave. Fee: $195. (800) 830-6687. speaking. 6 p.m. to 9 p.m., SLC Center, Marquis Hotel, 1535 Broadway, O’Neil holds breakfast conference on Gold Place Network holds networking SEPTEMBER 9 352 Seventh Ave., 16th floor. Free. Room. Free. bankruptcy. 8:15 a.m. to 5 p.m., FAE reception. 6 p.m. to 8 p.m., 545 Eighth International Council of Shopping (516) 944-6454 or (603) 264-2249 or [email protected]. Conference Center, 3 Park Ave., 19th Ave., suite 18NE. Fee: $15. Centers and National Association of [email protected]. SEPTEMBER 12 floor. Fee: $100 members, $125 (212) 465-8080. Industrial and Office Properties hold SEPTEMBER 10 New York & New Jersey Minority nonmembers. conference on commercial real estate. 7 Real Estate Academy holds seminar on Supplier Development Council and (800) 537-3635. SEPTEMBER 8-14 a.m. to 6 p.m., Westin Times Square, real estate trends. 9 a.m. to 5 p.m., New New Jersey Transit hold networking —maia blume & sarah studley SEPTEMBER 8 270 W. 43rd St. Free. (646) 728-3800. York Athletic Club, 180 Central Park lunch. 10 a.m. to 5 p.m., New York Penn New York University School of Law and SEPTEMBER 9 South. Fee: $199. (212) 262-2662 or Station. Fee: $100 members, $150 More meetings online at Root-Tilden-Kern Scholarship Program Brazilian-American Chamber of [email protected]. nonmembers. (212) 502-5663. www.crainsnewyork.com hold lecture on public service. 6 p.m. to Commerce Inc. holds breakfast on SEPTEMBER 10 SEPTEMBER 12 7 p.m., 40 Washington Square South, carbon credit markets in Brazil. 8 a.m. to WWD Fashion Career Expo holds Brooklyn Business Solutions Center, Click on “Events”

PUBLIC & LEGAL NOTICES

Notice of Qualification of Blackstone Notice of Qualification of Getty Images Notice of Qualification of Central Park Notice of Qualification of Goldman Sachs NOTICE OF FORMATION OF ATG Holdings Management Associates VI L.L.C. Luxembourg S.a r.l. Authority filed with Group Lighthouse Global Long/Short Real Estate Mezzanine Partners PMD ESC LLC. Article of Organization filed with the Authority filed with NY Dept. of State on NY Dept. of State on 7/30/08. Office loca- Fund, LLC. Authority filed with Secy. of Fund, L.P. Authority filed with Secy. of Secretary of State of NY (SSNY) on April 5/2/08. Office location: NY County. LLC tion: NY County. LLC formed in The Grand State of N.Y. (SSNY) on 8/6/08. Office State of N.Y. (SSNY) on 7/17/08. Office 9, 2008 Office location NEW YORK formed in DE on 12/18/07. NY Sec. of Duchy of Luxembourg on 6/20/08. NY location: NY County. LLC formed in location: NY County. LP formed in County. SSNY has been designated as State designated as agent of LLC upon Sec. of State designated as agent of LLC Delaware (DE) on 7/21/08. SSNY desig- Delaware (DE) on 6/2/08. SSNY designat- agent upon whom process against it may whom process against it may be served upon whom process against it may be nated as agent of LLC upon whom ed as agent of LP upon whom process be served. The Post Office address to and shall mail process to the principal served and shall mail process to: CT process against it may be served. SSNY against it may be served. SSNY shall mail which the SSNY shall mail a copy of any business address of the LLC: c/o The Corporation System, 111 8th Ave., NY, NY shall mail process to: c/o Ruth Goodstein, process to: 85 Broad St., NY, NY 10004. process against the LLC served upon Blackstone Group, 345 Park Ave., NY, NY 10011, regd. agt. upon whom process 12 E. 49th St., 14th Fl., NY, NY 10017. DE DE address of LP: 1209 Orange St., him/her is C/O the LLC 350 west 42nd 10154. Regd. agt. upon whom process may be served. Luxembourg addr. of LLC: address of LLC: National Corporate Wilmington, DE 19801. Name/address of Street apt 7-G. New York, NY 10036. may be served: CT Corporation System, 8-10 rue Mathias Hardt, L-1030 Research, Ltd., 615 South DuPont Hwy., each genl. ptr. available from SSNY. Cert. Purpose of LLC: to engage in any lawful 111 8th Ave., NY, NY 10011. DE addr. of Luxembourg, Grand Duchy of Dover, DE 19901. Cert. of Form. filed with of LP filed with DE Secy. of State, P.O. act or activity. Street address of Principal LLC: c/o The Corporation Trust Co., 1209 Luxembourg. Arts. of Org. filed with Trade DE Secy. of State, Loockerman & Federal Box 898, Dover, DE 19903. Purpose: any Business location is: 350 West 42nd Orange St., Wilmington, DE 19801. Arts. and Companies Registrar, Centre adminis- St., Dover, DE 19901. Purpose: any lawful lawful activity. Street apt 7-G. New York, NY 10036. of Org. filed with DE Sec. of State, tratif Pierre Werner, Batiment F, 13, rue activity. Townsend Bldg., Dover, DE 19901. Erasme, Luxembourg-Kirchberg, Notice of Formation of Payal Arts Notice of Formation of The Artifice Group Purpose: any lawful activity. Luxembourg. Purpose: any lawful activity. Name of Foreign LLC: UHURU CAPITAL International, LLC. Arts. of Org. filed with LLC. Arts. of Org. filed with NY Dept. of MANAGEMENT LLC. App. for Auth. filed NY Dept. of State on 8/13/08. Office loca- State on 5/12/08. Office location: NY Notice of Formation of SSDS, LLC. Arts. of Notice of Qualification of Whitehall Street NY Dept. of State: 5/8/08. Jurisd. and date tion: NY County. Sec. of State designated County. Sec. of State designated as agent Org. filed with Secy. of State of N.Y. (SSNY) International PMD ESC Fund 2008, L.P. of org.: DE 3/12/08. County off. loc.: New as agent of LLC upon whom process of LLC upon whom process against it may on June 10, 2008. Office location: New Authority filed with Secy. of State of N.Y. York County. Princ. bus. loc.: 1350 against it may be served and shall mail be served and shall mail process to the York County. SSNY designated as agent of (SSNY) on 7/9/08. Office location: NY Avenue of the Americas, New York, NY process to: c/o Bharati Parekh, 10 E. Lee principal business address: 236 E. 13th St., LLC upon whom process against it may be County. LP formed in Cayman Islands (CI) 10019. Sec. of State designated as agent St., Unit 809, Baltimore, MD 21202. #25, NY, NY 10003. Purpose: any lawful served. SSNY shall mail process to: The on 3/14/08. SSNY designated as agent of of foreign LLC upon whom process Purpose: any lawful activity. purpose. LLC, 225 East 57th Street, #4A, New York, LP upon whom process against it may be against it may be served. The Sec. of NY 10022. Purpose: any lawful activity . served. SSNY shall mail process to: 85 State shall mail copy of process to: 10 Notice of Formation of PILOT NYC, LLC, a Notice of Formation of Three Eyed Labs, Broad St., NY, NY 10004. DE address of East 40th Street, 10th Floor, New York, NY domestic LLC. Arts. of Org. filed with the LLC. Arts. of Org. filed with Secy. of State Notice of Formation of CKE2, LLC. Arts. of LP: Maples Corporate Services Limited, 10016, Attn: National Corporate Research, SSNY on 07/18/08. Office location: NY of NY (SSNY) on 08/04/08. Office location: Org. filed with Secy. of State of NY (SSNY) P.O. Box 309, Ugland House, Grand Ltd. Addr. of foreign LLC in DE is: 615 County. SSNY has been designated as New York County. Principal office of LLC: on 7/8/08. Office location: NY County. Cayman, KY1-1104, CI. Name/address of South DuPont Hwy., Dover, DE 19901. agent upon whom process against the 309 West 99th Street, #5C, New York, NY SSNY designated as agent of LLC upon each genl. ptr. available from SSNY. Cert. Auth. officer in DE where Cert. of Form. LLC may be served. SSNY shall mail a 10025. SSNY designated as agent of LLC whom process against it may be served. of LP filed with Registrar of Exempted filed: Harriet Smith Windsor, Sec. of State, copy of process to: 45 West 45th St. 6th upon whom process against it may be SSNY shall mail process to: Corporation LPs, Elizabethan Sq., 4th Fl., Phase Four, Div. of Corporations, John G. Townsend Fl, NY, NY 10036, which is also its princi- served. SSNY shall mail process to: Brian Service Company, 80 State St., Albany, George Town, Grand Cayman, CI. Bldg., 401 Federal Street, Suite 4, Dover, pal place of business. Purpose: Any Chirls, 309 West 99th Street, #5C, New York, NY 12207. Purpose: any lawful activity. Purpose: any lawful activity. DE 19901. Purpose: any lawful activity. Lawful Purpose. NY 10025. Purpose: Any lawful activity.

Notice of Qualification of CWCapital EY Notice of Qualification of Whitehall Street Notice of Qualification of CWCI Enhanced Notice of Qualification of Whitehall Street Notice of Qualification of CWCapital EY REIT Greenwich LLC. Authority filed with International PMD ESC Japan Fund 2008, Yield GP LLC. Authority filed with Secy. of International REPIA Japan Fund 2008, L.P. REIT UBS LLC. Authority filed with Secy. Secy. of State of NY (SSNY) on 07/23/08. L.P. Authority filed with Secy. of State of State of NY (SSNY) on 07/24/08. Office Authority filed with Secy. of State of N.Y. of State of NY (SSNY) on 07/23/08. Office Office location: New York County. LLC N.Y. (SSNY) on 7/10/08. Office location: location: New York County. LLC formed in (SSNY) on 7/9/08. Office location: NY location: New York County. LLC formed in formed in Delaware (DE) on 12/04/07. NY County. LP formed in Cayman Islands Delaware (DE) on 12/01/06. SSNY desig- County. LP formed in Cayman Islands (CI) Delaware (DE) on 05/05/08. SSNY desig- SSNY designated as agent of LLC upon (CI) on 3/14/08. SSNY designated as nated as agent of LLC upon whom on 3/14/08. SSNY designated as agent of nated as agent of LLC upon whom process whom process against it may be served. agent of LP upon whom process against it process against it may be served. SSNY LP upon whom process against it may be against it may be served. SSNY shall mail SSNY shall mail process to: c/o may be served. SSNY shall mail process shall mail process to: c/o Corporation served. SSNY shall mail process to: 85 process to: c/o Corporation Service Corporation Service Company, 80 State to: 85 Broad St., NY, NY 10004. DE Service Company, 80 State Street, Albany, Broad St., NY, NY 10004. DE address of Company, 80 State Street, Albany, NY Street, Albany, NY 12207, registered agent address of LP: Maples Corporate Services NY 12207, registered agent upon whom LP: Maples Corporate Services Limited, 12207, registered agent upon whom upon whom process may be served. Limited, P.O. Box 309, Ugland House, process may be served. Principal office of P.O. Box 309, Ugland House, Grand process may be served. Principal office of Principal office of LLC: 1540 Broadway, Grand Cayman, KY1-1104, CI. LLC: One Charles River Place , 63 Cayman, KY1-1104, CI. Name/address of LLC: 1540 Broadway, 23rd Floor, New 23rd Floor, New York, NY 10036. Arts. of Name/address of each genl. ptr. available Kendrick Street, Needham, MA 02494. each genl. ptr. available from SSNY. Cert. York, NY 10036. Arts. of Org. filed with Org. filed with SOS, DE, Division of from SSNY. Cert. of LP filed with Registrar Arts. of Org. filed with SOS, DE, Division of LP filed with Registrar of Exempted SOS, DE, Division of Corporations, John Corporations, John G. Townsend Bldg., of Exempted LPs, Elizabethan Sq., 4th Fl., of Corporations, John G. Townsend Bldg., LPs, Elizabethan Sq., 4th Fl., Phase Four, G. Townsend Bldg., 401 Federal Street, 401 Federal Street, Suite 4, Dover, DE Phase Four, George Town, Grand Cayman, 401 Federal Street, Suite 4, Dover, DE George Town, Grand Cayman, CI. Purpose: Suite 4, Dover, DE 19901. Purpose: Any 19901. Purpose: Any lawful activity. CI. Purpose: any lawful activity. 19901. Purpose: Any lawful activity. any lawful activity. lawful activity.

20 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 21 8/28/2008 7:37 PM Page 1

BUSINESS

TABLE TALK New Italian eateries near U.N. spread flavor and accord PAGE 22 catherine gibbons catherine

GOTHAM GIGS Hands-on hostess EAST OF EDEN: Dissatisfied in KAREN WALTUCK, 55, loves New York, James and Ellen working with people. As the Gillespie—with kids Emily, Lily and co-owner, with her husband Tom (clockwise from top)—found a David, of Chanterelle, she new life in Ketchum, Idaho. keeps everything running smoothly at the TriBeCa restaurant. PERFECT MATCH A native of New York, Ms. Waltuck has always loved foreign cultures. She dabbled in anthropology and fashion before meeting Mr. Waltuck in 1977.The two crafted the idea for Chanterelle, combining his passion for cooking and hers for art and beauty. WELCOME MAT Since the restaurant’s opening in 1979, Ms. Waltuck has become known for her front-of-the- house greeting and floral arrangements. Now, even with 50 staffers on board, she’s careful to stay true to the original vision: “We wanted it to be caring and beautiful, but completely unpretentious.” KEEPING UP The Waltucks keep things fresh by changing the menu every four weeks and updating the dining room regularly. Nearly 30 years later, Ms. Waltuck isn’t slowing down, crediting the city’s environment for her energy.“It’s a wonderful, changing and exciting place,” she says. —sarah studley

EXPERT OPINIONS seelig david HEALTHFUL TREATS THE STATS FOR THE LUNCH BOX i recommend foods that are Among the 375 high in fiber, such as Gnu best places to snack bars. Other choices, Get out of town! live in the U.S., like low-fat string cheese, NY came in … offer calcium and protein. Gothamites trade in success for simple life Even popcorn, which is a whole grain, has seven grams BY MATTHEW FLAMM of fiber per cup. Stay away 2004 from the 100-calorie snack riter and entrepreneur Penelope Trunk moved to New packs; they tend to be low in York from Los Angeles seeking fame and fortune in the world nutrients and not very filling. No.40 Now, most New York schools of Internet startups.Ten years later, she was a columnist and only serve low-fat milk.Try blogger with a national following and an annual paycheck of to limit your child to one cup more than $200,000. But she still felt that she was struggling. 2007 of juice per day. That was when she knew it was time to leave. —lauren graf, m.s., r.d. Pediatric nutritionist “Nobody feels rich in New York City,” she says, speaking No.251 from Madison, Wis., where she and her family moved from The Children’s Hospital Source: Cities Ranked & Rated, at Montefiore Park Slope, Brooklyn, two years ago. See GOTHAMITES on Page 22 second edition W September 1, 2008 | Crain’s New York Business | 21 CNYB 09-01-08 A 22 8/28/2008 8:27 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape U.N. nod to eateries Convivio, Padre Figlio was L’Impero is now Convivio, a grilled flat iron steak. great hospitality take on the sunny Desserts ($10 to $12) are the gain approval of flavors and aura of the Italian South. least exciting of Convivio’s culinary Chef White, operating partner fireworks. Blackberry compote and diplomats and nabe; Chris Cannon and designer-part- lemon yogurt sorbet elevate panna ner Vicente Wolf offer casual, yet cotta, and a honeyed nectarine tart loud when full sleek,surroundings for inspired food is pleasant. and wines and meticulous service. Beverage choices are exception- the united nations is seldom There are nibbles, called sfizi ($4 al, and the wine geeks guide guests unanimous on anything, but two to $6), such as icicle radishes with through hundreds of southern com- new Italians in the neighborhood anchovy cream, saffron risotto cro- forts with wit and wisdom. are winning great approval as de- quettes, or a medley of creamy bur- lightful dining destinations for rata, tomato and basil oil suggestive PADRE FIGLIO ## diplomats and everyone else. of the Italian flag. 310 E. 44th St. Convivio supplies splendid The $59 four-course dinner deal is (between First and Second avenues) GOOD FELLOWS: Chef southern spin in the L’Impero space. a remarkable buy at this quality level. (212) 286-4310 Michael White (left) and The other, Padre Figlio, is—as its Technically the first course,anti- www.padrefiglio.com co-partner Chris Cannon CUISINE Italian steakhouse-plus serve up inspired food at name implies—a father-son team pasti ($11 to $15) are larger items their sleek Convivio. offering Piedmont-style steak and a such as skewer-grilled quail or rich, WINES 220 choices, 33 by the glass great deal more. Reservations are rustic chicken liver mousse. The PRICE RANGE $24-$48; three- david neff david recommended at both. They also mousse has chicken hearts in it, course lunch prix fixe, $27 take plastic, have an easy dress code, too—and is slathered over a crostini WINE MARKUP 180%-400% grass-fed cattle. Porterhouse, New and can be loud when full. crowned with Marsala-steeped HOURS Open daily; Lunch, 11:30 York strip,T-bone, skirt and rib-eye onions. a.m.-3 p.m.; Dinner, 5-11 p.m. cuts are available. CONVIVIO ### Pastas are superb for classic sim- Game is always on as well, with 45 Tudor City Place (between East 41st plicity and flavor fidelity. Mac- ntonio and Mario Cerra, wild boar, ostrich, buffalo and veni- and East 42nd streets) cheroni tossed with pancetta, pec- the father-son team that son—and the ball game is usually on (212) 599-5045 orino,scallion,egg and black pepper Amade its bones (beef, lamb, in the bar adjacent to the restaurant www.convivionyc.com is among my Last Meal requests. veal) at Da Antonio, now casts a di- entrance. (under construction) The ravioli called pansoti are verse dining net within walking dis- As good as meats may be, the CUISINE Southern Italian plumped with burrata cheese,toma- tance of the U.N. kitchen scores with risotto sim- WINES 400 choices, 28 by the glass, toes and basil.Small Sardinian-style Pappa Antonio,a gifted host who mered with wild mushrooms and sommelier gnocchi play off sea urchin and crab; could sell ice to Eskimos, works side truffle sauce, smoked Scottish PRICE RANGE $21-$29; four-course and rigatoni is paired with tripe, by side with his son in a much larg- salmon from Inverness, and tender prix fixe, $59 sausage and wild fennel. er, flexible restaurant ideal for small veal scaloppine napped in gorgon- WINE MARKUP 120%-250% Fresh mint,yogurt,pine nuts and tête-à-têtes or large parties.The $27 zola sauce. CONVIVIO takes a fresh and sunny HOURS Lunch, Mon.-Fri., noon-2:30 currants dress delicate rolls of Sicil- lunch deal is a big draw with diplo- Service is professional, and approach to southern Italy’s cuisine. p.m.; Dinner, Mon.-Thurs., 5:30-10 ian-style swordfish. Lemon, ore- mats and other neighbors. wines, some with lofty markups, are p.m., Fri.-Sat., 5-11:30 p.m. gano, red peppers and olives accent Padre Figlio offers a full range of served in Robert Parker glasses with ####= Outstanding grilled octopus. Escarole and beans Italian fare prepared by chef Alber- a special diagonal indentation said ###= Excellent ith potent contribu- join salsa verde in a grilled lamb- to Argudo. Its signature is top qual- to speed aeration. ##= Very good tions from chef Michael chop dish.The ubiquitous baby egg- ity, all-natural, Piedmontese-style #= Good WWhite and partners, what plant, tomatoes and capers garnish beef, produced in America from COMMENTS? [email protected]

ed out a ship. “It was a super-inter- What’s more, Mr. Gillespie goes her children’s music album—turned esting life, but ‘interesting’ doesn’t backcountry skiing 100 days a year; out to be better-suited to the South. Gothamites get out make you happy.” he and his wife hike together many Since her return there, she’s been The need to support that life can afternoons and are able to show up successfully promoting the social Continued from Page 21 They’re showing up in articles lead to a troubling paradox at the for their kids’ ski races. network at churches and Christian Ms. Trunk—who wrote about about financial analysts turned heir- heart of the New York experience: “It’s a kind of happiness I’ve nev- youth events, and getting her CD the move on her blog, BrazenCar- loom-tomato farmers,and magazine There’s no time to enjoy it. er experienced before,” he says. into boutiques.The fact that she has eerist.com—is part of a new New editors who become gardening blog- James Gillespie found himself Not surprisingly,the city’s expatri- storage space in her lakeside house York diaspora: that of successful gers. And they aren’t leaving because facing that dilemma five years ago. ates never stop being overachievers. for CDs and promotional materi- Gothamites who decide they can’t of crime and dirt,which used to drive As a senior marketing executive for In addition to running the land- als—and a car to transport them— take it here anymore. people out, but rather because the BarnesandNoble.com, he started scaping business, Mr. Gillespie has has made a difference, too. city’s resurgence has made New York his commute to Manhattan before become a wilderness first responder “It’s the schlepping I got tired more competitive and expensive. his children awoke and returned and is Level II-certified in ava- of,” Ms. Miller says. “It’s so much home after they’d gone to sleep. His lanche assessment. easier to run a business outside New Enviable choices wife, Ellen, felt equally dissatisfied Another overachiever, Merry York.” these reverse pioneers inspire a spending her days playing tennis at Miller,who used to wrangle the likes Griping aside, most ex-New certain amount of envy: They’ve their Westchester country club, of Harrison Ford and Sean “Diddy” Yorkers say they never totally leave made the leap that others only dream while a nanny watched the kids. Combs into speaking engagements the city behind. They try to visit as of.Their example also serves as proof Determined to live a simpler life, at the Learning Annex, returned often as possible and catch up on that anyone among us could wind up they picked Ketchum, Idaho, for its home to Texas in May after 16 years theater and art. They also miss the trading culture and excitement for a mountains, good public schools and in Manhattan. shopping—and the restaurants. manageable lifestyle—if we dared. diversified economy. They moved “The food down here totally “The birthday parties were kill- there with no idea how they’d earn a Finding the inner Merry stinks,” says Barbara Kimmel, the ing us,” says Ms. Trunk, recalling a living. she’d finally decided that what former owner of a graphic design child’s party where the parents rent- “People were stunned that we’d she really wanted was year-round studio in midtown. She moved with SUPERIOR OFFICE give up this great life in Bronxville,” warm weather and a bigger home at her husband to the planned commu- AVAILABILITIES Mr. Gillespie recalls. “But we were a lower price, which she found in nity of Harmony,Fla.,two years ago. desperate to throw our hat some- Rockwall,30 minutes outside Dallas. She also misses talking to New 212.594.2700 where else.” And despite the notion that New Yorkers. “When I hear [Southern- He is now general manager of York is the enterprise capital of the ers],I want to tell them to hurry up,” Native Landscapes, working mainly world, the businesses she started Ms. Kimmel says. in the spring and summer. Ms. Gil- here—a Christian Web site called SLGREEN.COM lespie started Sun Valley Events, a God’s Social Network, and Baby- COMMENTS? corporate event-planning business. MusicToGo.com, which markets [email protected]

22 | Crain’s New York Business | September 1, 2008 CNYB 09-01-08 A 23 8/28/2008 7:41 PM Page 1

BUSINESS LIVES CORPORATE LADDER Melissa Miller Ormond Detour to the Garden MSGE charges exec Music Hall in New York. Her appointment coincides with PERSONNEL FILE to expand and export MSG Entertainment’s acquisition productions; thought tear. Last year, it bought the famed COMPANY MSG Entertainment Chicago Theater and, in July,signed TITLE Chief operating officer she’d left biz behind a deal with the Wang Theatre at the Citi Performing Arts Center in AGE 42 Boston,bringing the number of ven- RÉSUMÉ Executive vice president BY HILARY POTKEWITZ ues in Ms. Ormond’s domain to six. of bookings, MSG Entertainment; Ms. Ormond is also charged senior vice president of talent, hen melissa with finding new opportunities for Universal/House of Blues Miller Ormond MSG Entertainment’s existing was a freshly productions, including the Radio PERSONALITY Type A, minted college City Christmas Spectacular and “take-charge” grad with a de- Cirque du Soleil Wintuk, in which HOBBIES Listening to live Irish greeW in political science, she headed MSG Entertainment holds a stake. folk music to Washington, D.C., hoping to land an internship. Rockettes national tour “I told my parents I was going this year, for the first time, the ment. It was a natural for Mr. Mar- into politics,”says the Topeka,Kan., Rockettes embark on a national are- ciano to call on her as the two have

native. “And I ended up running a na tour, playing the Christmas Spec- worked together for more than 10 gibbons catherine club. Go figure.” tacular in 18 cities. She is also work- years. Prior to MSG, she was a tal- Sporting pink and red highlights ing with the producers of Cirque to ent buyer and he her boss at Univer- “Eventually you get to a point the size of this town,” she recalls. in her brown hair, Ms. Ormond is come up with another concept that sal/House of Blues. where you’ve booked the biggest Barely a year into her self-im- the newly appointed chief operating will replicate the success of Wintuk. “A lot of times, you attain a cer- venues, and there’s nothing bigger,” posed exile, she got a call from Mr. officer of Madison Square Garden “The great thing about Melissa tain position and you don’t want to Ms. Ormond says. Marciano asking her to come run Entertainment. Her career detour is that there isn’t a single job she get your hands dirty anymore,” he things at MSGE. He made her an running an indie-rock joint couldn’t hasn’t worked in this industry,and if adds. “Melissa’s not like that.” Self-imposed exile offer that she couldn’t refuse. have been more fortuitous. something’s not being done correct- As a talent buyer for Universal, in 2003, she left the music indus- “This industry is like the Hotel Turns out that filling a small stage ly, she’s not afraid to put a shoulder she booked bands at amphitheaters try—or so she thought. California,” says Mr. Marciano, re- a few nights a week was Ms. Or- in there and do it,” says Jay Mar- like the Hollywood Bowl, and went She traveled, she got married, ferring to the classic-rock anthem.“ mond’s warm-up act. Today, she is ciano,president of MSG Entertain- on to manage Lilith Fair, the multi- and she moved to a small hamlet in ‘You can check out any time you like, charged with creating and booking ment, who brought Ms. Ormond city, multiband, female rock tour. By Ireland. Some nights, she’d think but you can never leave.’” events to fill multiple venues in the into the MSG family in 2005. 2003, she was managing the tour of about the fact that there was proba- MSG empire, including the WaMu At that time, Ms. Ormond was punk-rock sensation Blink 182,sell- bly a concert on one of her old tours, COMMENTS? and Beacon theaters and Radio City tapped to run the bookings depart- ing out arenas all over the country. drawing a crowd that was “10 times [email protected]

EXECUTIVE MOVES

ACCOUNTING & CONSULTING EDUCATION partner from associate. Citrin Cooperman & Co.: F.Wayne Holton, Columbia Business School: David Michael J. Barker, 40, was promoted to HOT JOBS 65, was promoted to chief executive DeCicco, 34, was named associate dean partner from special counsel. from partner. for marketing and communications. He Murray Goldfarb, 33, was promoted to Holtz Rubenstein Reminick: John Basile, had been marketing director at New partner from associate. 46, joined as partner. He had been a York University Medical Center. Jennifer Lauren Rodburg, 32, was WANTED: DIRECTOR OF ENGINEERING partner at Hays & Co. promoted to partner from associate. James Wienclaw, 46, joined as partner. FINANCE & INSURANCE Kirkland & Ellis: Steven Cherny, 42, joined COMPANY Yodle He was formerly a partner at Marcum BNY Mellon Wealth Management: Frank as partner. He was formerly a partner at JOB DESCRIPTION Oversee and manage a team of 10 software & Kleigman. S. Levin, 49, was named senior director. Latham & Watkins. engineers at a Manhattan-based startup Marshall & Stevens Inc.: S. Douglas He had been a financial adviser at Loeb & Loeb: Giovanni Caruso, 31, was Pugliese, 42, was appointed executive Sanford C. Bernstein & Co. promoted to partner from associate. MOST IMPORTANT TASKS Recruiting talent, motivating the team and managing director. He was formerly William S. Wyman, 49, was named Mark Goldberg, 41, was promoted to leading design system architecture managing director at Bear Stearns senior director. He had been a managing partner from senior counsel. &Co. director at Integrated Wealth Services. Tahra T.Wright, 33, was promoted to CREDENTIALS NEEDED At least seven years of engineering and Houlihan Smith & Co.: Karl D’Cunha, 34, partner from associate. management experience, preferably at an Internet startup; must be ADVERTISING & COMMUNICATIONS was promoted to senior managing Reed Smith: William C. Mutterperl, 62, hands-on, with a proven ability to write software code Hanger Network: L. Jeff Jensen, 52, was director from managing director. joined as counsel. He had been vice chair- SALARY $100,000-plus appointed president of sales and man at PNC Financial Services Group. marketing. He was formerly president at HIGH TECH & NEW MEDIA Sheppard Mullin Richter & Hampton: RECRUITER Internal Adspace Networks Inc. Avenue A|Razorfish: Francis Anderson, Blaine Templeman, 42, joined as partner. Ketchum: Isaac Mark, 32, joined as vice 39, was named vice president of He had been partner at Heller Ehrman. UPSIDE Opportunity for job growth at a fast-paced company; also, there president and video/content producer of connections planning in the New York is an equity upside: stock options are part of compensation Ketchum Creative Network. He had City office. He was formerly executive MEDIA & ENTERTAINMENT Founded in March 2005, Yodle provides local search advertising been senior producer at Howard TV. manager at Fallon New York. Beach Tennis USA: James Lorenzo, 50, was RMG Connect: Mark Miller, 56, was IntraLinks: Gregory S. Kenepp, 47, was promoted to president from vice and online lead generation services to small and midsize businesses. promoted to president and chief named chief marketing officer. He had president, operations. Its investors include top venture capital firms Bessemer Venture executive, North America, a newly been chief executive at Violin Memory. Doubledown Media: Aaron Sigmond, 41, Partners and Draper Fisher Jurvetson. Currently, it has 175 created position. He had been president, was named group luxury editor, a new employees, up from just 13 a year ago. New York, Atlanta and Dallas. LAW position. He continues as editor and Chadbourne & Parke: Eli Katz, 35, joined publisher of The Cigar Report. —AMANDA FUNG APPAREL & RETAIL as counsel. He had been vice president- Weinstein Cos.: Michael Rothstein, 36, Cartier: Mercedes Abramo, 38, was named tax planning and counsel at General was promoted to executive vice boutique director of the Fifth Avenue Electric. president, international sales and flagship boutique. She was formerly Fried Frank Harris Shriver & Jacobson: distribution, from senior vice president. director, main floor and Patek Philippe Andrew B. Barkan, 32, was promoted to Jonathan Kier, 34, was promoted to REAL ESTATE Jones Lang LaSalle: Cynthia Wasserberger, Salon, at Tiffany & Co. senior vice president, international sales CORE Group Marketing: Fredrik Eklund, 37, was promoted to managing director and distribution, from vice president. 31, was promoted to managing director from senior vice president. ARCHITECTURE & DESIGN EXECUTIVE PROMOTIONS WE tv: Christina Pisano, 40, joined as vice from senior vice president. Massey Knakal Realty Services: Kyle Perkins Eastman: Steve Rosenstein, 58, The fastest way to get an announcement into president of research. She was formerly Halstead Property: Anthony DeVivio, 55, Mast, 27, was promoted to managing joined as a principal. He formerly Crain’s is to submit details online. Fill out the form vice president of research for NBC joined as director of sales, Harlem. He director of the Manhattan office, from managed his own firm, Steve Rosenstein at www.crainsnewyork.com/submit. The Universal Cable Entertainment, Oxygen had been a sales associate at The interim sales manager. Associates. Executive Moves column is also available online. and Bravo Media. Corcoran Group. —sarah studley

September 1, 2008 | Crain’s New York Business | 23 Project5 8/4/08 12:06 PM Page 1

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