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TOP STORIES BUSINESS LIVES Once-red-hot art Pumping market is catching it up at Wall Street’s cold the office PAGE 3 ® PAGE 47 Unions mobilize to oppose zoning plans unless they VOL. XXIV, NO. 9 WWW.CRAINSNEWYORK.COM MARCH 3-9, 2008 PRICE: $3.00 get wage rules PAGE 3 CREDIT CRISIS FALLOUT Will country radio hit NYC? WNBC feels ratings pain PAINFUL CHOICES: Banks put Ending dividend, NEW YORK, NEW YORK, P. 6 selling units loom as options for Citigroup brakes on Financial fireman head Vikram Pandit. takes charge at key branching industry group CORPORATE LADDER, P. 49 out in NYC Market saturation, credit crunch are factors; retail rents could come down

BY ELISABETH TAKE IT TO BUTLER CORDOVA THE LIMIT the great Man- Manhattan branches. hattan bank branch bloomberg news Chase boom is over. 127 CRAIN’s ANNUAL Financial players that paid top dollar to Citibank LOOK AT 64 NEW YORK’s rent hundreds of re- PANDIT’S DEADLINE tail locations, push- HSBC RISING STARS 47 Page F1 ing out neighbor- Fledgling CEO needs to dig deeper to counter rising losses hood coffee shops, Washington florists and fashion Mutual SEE VIDEO the vast institution have fallen far short. To date, boutiques, are end- 46 BY AARON ELSTEIN INTERVIEWS WITH he has halted a big U.S. branch expansion plan, ing their shopping Bank of 2008’s WINNERS @ sold off the company’s Japanese headquarters and spree, real estate America www.crainsnewyork.com/40under40 nearly three months ago, Vikram Pandit appointed a new chief risk officer. sources say. 43 stepped in as chief executive at what looked to be Clearly,far more will be required.In fact,there’s “All bank leasing Citigroup Inc.’s darkest hour. a growing consensus that by the time Mr. Pandit has stopped,” says Commerce Since then, Citi’s stock has fallen another 25%. takes the stage at Carnegie Hall for Citi’s annual Steven Durels,direc- Bank 27 AT DEADLINE It has written off an additional $20 billion of mort- shareholder meeting on April 22, he will need to tor of leasing at SL gage-related losses and has been forced to raise have fashioned a sweeping new vision for the Green Realty Corp., Wachovia SEEKING TO BOOST A nearly $30 billion in cash at punishingly high in- world’s largest bank. one of the city’s 24 LAGGING ECONOMY, QUEENS terest rates. “Citi has not yet come to grips with reality,”says biggest real estate Sources: Companies mall owner Damon Meanwhile,Mr.Pandit’s efforts to turn around See PANDIT on Page 9 See BANKS on Page 8 Hemmerdinger planned to pass out $100 bills to patrons at his Shops at Atlas Park in Glendale last weekend.The son of MTA Chairman H. CNN rides elections to victory over Fox Dale Hemmerdinger was going to give out $20,000 and is hoping other mall owners finally produced an unexpected ic primary season that has drawn The boost gave the Time Warner- will follow suit. Mr. Key ratings surge winner. new voters—and new viewers— owned channel its first victory over Hemmerdinger says a national on political coverage; That’s right: There’s a new CNN’s prime-time audience of 25- the Fox News Channel in six years. effort could infuse $340 front-runner in the cable news race. to 54-year-olds soared 150% in MSNBC, perennially a distant million into the economy. will the gains last? Buoyed by a historic Democrat- February over year-earlier levels. See CNN on Page 8 PACE UNIVERSITY IS CONSIDERING CLOSING ITS BY MATTHEW FLAMM FEBRUARY FERVOR Prime-time viewers aged 25 to 54. four-year-old incubator in I Viewers I 1-year percent change* downtown Manhattan.The for the past few months, peo- school says that its new ple across the United States have See AT DEADLINE on Page 2 taken part in a closely fought con- 614,000 +150% 454,000 +10% test,full of twists and turns,that has 326,000 +71% 09 5

ELECTRONIC EDITION NEWSPAPER

71486 01068 *Jan. 28 to Feb. 24, 2008, versus Jan. 29 to Feb. 25, 2007, during prime time, Monday to Sunday, 8 p.m. to 11 p.m. Source: Nielsen Media Research istockphoto 0 CNYB 03-03-08 A 2 2/29/2008 8:25 PM Page 1

AT DEADLINE Continued from Page 1 VERIZON COMMUNICATIONS Revamped AOL just president is reviewing many INC. HOPES THAT THE CITY WILL ventures but that no final issue a solicitation for new cable decisions have been made.The TV providers by the end of incubator was originally March, so that it can apply for a designed for all types of franchise. If everything goes as can’t get any respect startups, but technology became planned, Verizon says it could its focus. Stephen Friedman, start offering TV service in a former dean at Pace University number of neighborhoods in the Despite investments, company stuck in fourth place School of Law, became five boroughs late this year. A president in June amid declines spokesperson for the city’s in enrollment and a financial Department of Information BY AMANDA FUNG squeeze. Technology and Telecommunications, which when a microsoft corp. executive didn’t acknowledge AOL as an online advertising A GROUP COMMITTED TO A handles cable franchises, says competitor in a recent industry conference, AOL Chief Executive Randy Falco was miffed. LARGER CONVENTION CENTER that “negotiations are ongoing, He said the software giant made a mistake by overlooking the Time Warner unit. for New York is disappointed in and it is premature to speculate a decision to appoint a task force as to when the city will issue the But there is good reason to take AOL lightly. Advertising revenue from AOL-owned and to study the issue. Under solicitation.” -operated sites last year grew just 15% from the previous year, to $1.6 billion, compared with pressure from the group— 27% from 2005 to 2006. Friends of Javits—and city TAKING A PAGE OUT OF APPLE’S officials, the Spitzer BOOK, 1800MATTRESS.COM IS “AOL is still in fourth place,” far behind Google, Yahoo and Microsoft, says Roger Kay, administration dropped a plan switching to an all-hours format president of research firm Endpoint Technologies Associates. to sell land and went back to the at three of its Manhattan stores See REVAMPED on Page 8 drawing board.The move will and its warehouse in Long just further “delay a decision on Island City, Queens. Starting at how to proceed with Javits,” says 5 a.m. on March 6, the locations Ken McAvoy, vice president of will operate 24/7, 365 days a Reed Exhibitions and a group year.The company plans to roll BILL WILSON says that member. out the concept to other cities AOL plans to launch soon. more sites this year. THE METROPOLITAN OPERA IS ABOUT TO GET SOME FRESHDIRECT HAS BEGUN competition in movie theaters. WAIVING DELIVERY FEES TO WIN The San Francisco Opera will back customers who stopped launch live broadcasts in 121 using the online grocer because theaters nationwide on March 8 of delivery problems that began with Giacomo Puccini’s La in late December.The Rondine. New York screenings exemption lasts three months. will be at the Clearview FreshDirect lost 150 workers at Ziegfeld in Manhattan and year-end as a result of an AIX-Parkside Pavilion Theatre immigration audit.The in Brooklyn.The Met is company initially focused on broadcasting eight operas this maintaining its most loyal year in more than 600 theaters customers, giving them worldwide. discounts on certain products.

CLARIFICATION Massivemedia Inc., a company that projects ads on the sides of buildings, says it pays the owners of those properties for hosting the ads. A Feb. 25 story inadvertently implied that Massivemedia is among the companies that do not pay building owners.

THIS WEEK IN CRAIN’S buck ennis

NEW YORK, NEW YORK------6 ALAIR TOWNSEND ------13 Rudy, private practitioner THE INSIDER------14 Giuliani says. “In litigation, you ar- 15 from 20, according to published SMALL BUSINESS ------15 Legal, consulting gue rational positions; you structure reports. WEEK IN REVIEW ------16 practices changed some kind of settlement. It’s one of As he did before his leave of ab- the last places where you can actual- sence, Mr. Giuliani will split his FORTY UNDER 40------F1 since his departure ly have a truly logical argument.” time equally between both prac- 49 NEIGHBORHOOD Mr. Giuliani will also return to tices. the eponymous consulting practice He insists that his failed presi- JOURNAL------43 BY HILARY POTKEWITZ that he founded six years ago. The dential campaign will not hurt his two firms have changed dramatical- businesses.“If anything, running for CLASSIFIEDS ------44 former new york mayor and ly in his absence. office has broadened me and made REAL ESTATE DEALS------46 presidential wannabe Rudy Giu- me better known,”Mr.Giuliani says. liani returns to work this week at his Law firm is growing The foray into the national polit- THE WEEKS AHEAD ------46 law firm, Bracewell & Giuliani. bracewell & giuliani, based in ical scene hasn’t diminished his legal The man whose commanding Houston, has grown globally, ambitions. He says he still loves ar- BUSINESS LIVES------47 early lead in the polls quickly evap- adding outposts in Dubai and else- guing cases in front of an appel- CORPORATE LADDER------49 orated as primaries began,is looking where. Its New York office, which late—or higher—court and looks forward to being back in a world opened with three lawyers in 2005, forward to getting back in the ring. EXECUTIVE MOVES------50 51 that makes sense to him. now boasts 50. Mr. Giuliani’s own The last time Mr.Giuliani faced the BOB LAPE ------51 “I miss solving problems in a ra- office there remains untouched, ac- U.S. Supreme Court was in a 1983 tional way,” Mr. Giuliani says. cording to New York Managing case involving a bank robbery,which vol. xxiv, no. 9, march 3, 2008—Crain’s New York Business (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals His political strategies and judg- Partner Daniel Connolly. he recalls winning by a vote of 8-1. postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address ment along the campaign trail took On the other hand, the consult- “I would like to argue appeals 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 heavy fire from pundits, and the ex- ing firm has shrunk. Although Mr. again,” Mr. Giuliani says. “If there’s copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents perience has left a mark. Giuliani calls it “more streamlined,” a good one around, let me know.” copyright 2008 by Crain Communications Inc. All rights reserved. “My plans are that I have no the practice has suffered without its plans to go into government,” Mr. namesake, its client list dropping to COMMENTS? [email protected]

2 | Crain’s New York Business | March 3, 2008 CNYB 03-03-08 A 3 2/29/2008 8:06 PM Page 1 Hot art market cools Ms. Allen this past fall over the pre- down from last year’s 15,000. Still, Sales slowdown vious year and sales in certain seg- MICHEL ALLEN, according to Linda Blumberg,exec- jeopardizes galleries ments of her business, like photog- owner of a Chelsea utive director of the ADAA,a num- raphy, have stopped altogether. gallery, says that each ber of the participating galleries sold as collectors shun art sale has become Sundaram Tagore, whose more difficult. out their booths. younger artists Chelsea gallery represents hot inter- Dealers who exhibited at both national artists like Hiroshi Senju the Palm Beach 3 contemporary art and Natvar Bhavsar, says sales in fair and Art Basel in Miami this year BY MIRIAM KREININ SOUCCAR January fell around 25% from the say times have definitely changed. same time last year. And David Mr.Tagore says he didn’t make a sale the art market frenzy that Maupin, of the Lehmann Maupin until the last afternoon at Palm made art students into stars gallery in Chelsea and the Lower Beach.“Last year there was a frenzy. overnight, spawned scores of fairs East Side, has reported a 50% drop This year people were dragging around the world and turned young in sales of work by younger artists their feet,” he says. investment bankers into major col- whose pieces sell for less than Michael Sellinger, a principal at lectors may be coming to an end. $20,000, and a decline in sales of Cottelston Advisors who produces a R For the first works priced at less than $100,000. show in conjunction with Art Basel EC E time in years, New “Things just aren’t selling in a cer- called Mash, says clients wanted to S York dealers are re- tain range,” Mr. Maupin says. “Last delay payments on works. S I porting weaker year was very different at this time.” To stay afloat during the uncer- O

N sales, hesitant buy- tainty, some gallery owners are cut- ers and difficulty Cold feet ting costs and even sharing their keeping up with collectors have cold feet for a space.Kathleen Cullen started rent- the high rents in number of reasons, dealers say. But ing out a room in her 2,000-square-

WATCH buck ennis Chelsea,the center the most prevalent factor is the over- foot Chelsea gallery last October, of the New York all economic downturn, especially most expensive pieces.There are now The Armory Show,the city’s biggest shaving a third off of her $6,500-a- art scene. A few galleries in the on Wall Street, where a lot of the so many collectors around the world contemporary art fair, which runs month rent. Ms. Cullen is consider- bustling neighborhood are already new buyers have been coming from. that losses from Wall Street collec- March 27 through March 30. ing taking on a second tenant. subletting space to make ends meet, Those newly minted millionaires, tors can easily be replaced by sales to She predicts that galleries in and insiders are concerned that some who now face shrinking bonuses or entrepreneurs in Hong Kong. Mixed results Chelsea will close if the downturn of the 400 galleries there could fail. layoffs, were the ones spending “While the American popula- other recent fairs have had continues. “The number will be ed- “Everyone is feeling a slow- wildly for emerging or midrange art. tion is holding back from acquiring mixed results.The Art Show,a pres- ited down,” Ms. Cullen says. “Be- down,” says Michel Allen, owner of To be sure, there is still a lot of more artwork,a lot of our clients liv- tigious, 20-year-old fair sponsored fore, everyone wanted to be a gal- an eponymous gallery in Chelsea. money circulating in the art market. ing in Asia are acquiring more,” Mr. by the Art Dealers Association of lerist because it was considered a “People are still buying, but it’s a Many dealers say that though the Tagore says. America, which ran in Manhattan glamorous profession.” much more difficult sale.” frenzied buying has died down, they Still, many gallery owners are from Feb. 21 through Feb. 25, at- Sales were down 10% overall for are having no trouble selling their anxiously awaiting sales results from tracted only 10,000 visitors this year, COMMENTS? [email protected] Unions tackle rezoning Dropout rate

Threaten to oppose ZONED FOR BATTLE sets off alarms measures without a Pending rezonings that are the promise of livable target of a union coalition. City, nonprofits try academic year. That figure, called the “event” dropout rate, refers to wages;key plans at risk new programs the number of high school dropouts in a given year. The latest number to stem the problem represents a rise of almost 2,000 BY DANIEL MASSEY from 2003-04. BY SAMANTHA MARSHALL To address the problem, experts at first glance, the city’s complex are pushing for legislation that land-use regulations might seem far on a recent wintry Friday morn- would raise the legal age students are removed from the bread-and-butter ing in the Bronx, a group of teens allowed to leave school to 18 from issues affecting workers.Look again. from Youth Voice and the Smith 16, which they say would help stop A coalition of unions is threaten- High School step team took the the thousands who fall just short of ing to oppose rezoning measures stage to dance and rap to a graduating each year from NO DIPLOMA citywide and potentially derail some rendition of James drifting out of the system. of the Bloomberg administration’s Brown’s “Don’t Be a Educators are also urging largest redevelopment projects if Dropout.” investment in a computer demands for livable wages, job They were performing 22K system that tracks at-risk training and affordable housing are for about 300 educators Number of students and the creation not met. and dozens of politicians, dropouts in of a dropout research cen- The group will fight signature including Rep. Charles 2005-06 ter, something California

projects in all five boroughs,includ- lindström bekka Rangel and City Comp- academic year has already done. ing Willets Point, 125th Street and G KINGSBRIDGE ARMORY, the Bronx river-to-river development troller William Thomp- “We need to find Coney Island, unless it wins a blan- son, who convened in the Bronx re- sharply focused solutions and Pave the way for redeveloping the G HUNTERS POINT SOUTH, Queens ket agreement mandating that de- landmarked 575,000-square-foot site Allow a mixed-use, middle-income cently to discuss a growing crisis in muster the political will to fix this,” velopers, owners and commercial G CONEY ISLAND, Brooklyn housing development on 30 acres of New York City: the rising dropout says Cary Goodman, executive di- tenants pay livable wages at all proj- Remake the area as a year-round waterfront in Long Island City rate. rector of nonprofit Directions for ects that require rezoning. entertainment destination with a G WILLETS POINT, Queens Despite Mayor Michael Our Youth,which organized the re- “When we’ve looked at econom- strong residential component Jump-start a $3 billion transformation Bloomberg’s best efforts to improve cent summit. ic development in the past, there’s G GOWANUS CANAL, Brooklyn that includes housing, retail and the city’s education system, New About 68,000 young people have been a notion that creating jobs is an Add residential and mixed-use office space, and a hotel York still boasts one of the nation’s dropped out over the past four years, end in itself,” says Stuart Appel- properties to the existing industrial G STAPLETON, Staten Island worst records for keeping kids in and another 70,000 are considered baum, president of the Retail, component along the waterway Allow mixed-use development and a school, just behind Detroit and Bal- at-risk by experts. This growing Wholesale and Department Store G 125th STREET, Manhattan 12-acre park on the site of the former timore.Close to 22,000 kids in New army—unqualified for even the Union. “But if they’re jobs that are Create incentives for mixed-use, Navy Homeport York City’s public high schools left most entry-level jobs—further ex- See UNIONS on Page 10 without a diploma in the 2005-06 See DROPOUT on Page 10

March 3, 2008 | Crain’s New York Business | 3 CNYB 03-03-08 A 4 2/29/2008 8:07 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL Astoria Financial poised -1.4% The Bloomberg/ to reap wages of thrift Crain’s New York Index

➡ fell 1.4% to Last year, Astoria increased its assets, ferred shares in Freddie Mac. Revenues, end the Conservative lender largely its outstanding loans, by just meanwhile, managed to rise slightly to week at dodges subprime bullet; $165 million, to $21.7 billion.This year, $1.2 billion,versus $1.1 billion a year ear- 323. The with many of its com- lier. S&P 500 rate cuts fatten margins petitors feeling the ill Despite the credit Index fell effects of the sub- crisis,this year looks to 1.7%, prime meltdown, As- be significantly better. closing at BY HILARY POTKEWITZ toria should be able to “Deposit costs are now 1331. do better as it pumps coming down faster or years, Astoria Financial out loans from its 89 than loan yields are,” has been derided as old-fash- New York area explains Mr. Kelley. ioned, plain-vanilla or even branches. That growing gap worse. Now, its very conser- Analysts are also promises good things vatism is being cited as the predicting that Lake for Astoria’s earnings RISERS Fthrift’s greatest asset—as the reason why Success, L.I.-based this year. 5-DAY 1-MONTH 3-MONTH CLOSING its shares have risen 14% this year while Astoria will benefit If the housing mar- % CHANGE % CHANGE % CHANGE PRICE those of larger, glitzier financial firms from the aggressive ket falls far and fast Take-Two Interactive +52.6% +61.2% +76.9% $26.50 have crashed and burned. efforts of the Federal enough, even old-line Warnaco Group +8.6% +4.6% +1.8% $37.56 True,the shares are down slightly over Reserve to lower in- lenders like Astoria the past 12 months, but that compares terest rates. The will feel the pinch of Atlas Air +7.4% +1.3% -3.9% $50.60 with declines of 52% for Citigroup and bank’s interest mar- mortgage defaults. MBIA +6.5% -16.3% -64.5% $12.97 17% for J.P.Morgan Chase over the same gin—the spread be- Market cap $2.6 billion Last year, it recorded IBM +5.4% +6.3% +8.2% $113.86 period. More important, with its balance tween what it charges Assets $21.7 billion $3.5 million in net sheet still in excellent repair and with loan customers for loans P/E trailing 12 months 19.7 loan charge-offs, up losses under control, Astoria is well posi- and what it pays cus- from $1.2 million the SINKERS tioned to gain market share in the com- tomers for their de- prior year, but still tiny 5-DAY 1-MONTH 3-MONTH CLOSING ing months,which makes its shares worth posits—shrank to by any standard. % CHANGE % CHANGE % CHANGE PRICE owning. 1.57 percentage points last year from 1.87 Those losses were in line with manage- Medco Health -12.0% -11.3% -11.4% $44.31 “They stuck to their knitting for the percentage points in 2006. ment’s expectations. JetBlue Airways -10.1% -21.1% -22.1% $5.45 last 20 years, making loans to high-qual- That decline limited Astoria’s profits “Will there be some customers de- ity customers,” says Matthew Kelley, re- CBS -8.0% -9.6% -16.9% $22.80 last year to $19.7 million, or 22 cents per faulting on their mortgages? Yes,” says gional bank analyst with Sterne Agee & share,compared with $37.1 million,or 39 Mr.Kelley.“But we don’t expect the over- Hertz Global -7.7% -19.8% -37.5% $11.93 Leach. “The loans they make are conser- cents per share, in 2006. The bank was all losses to be meaningful.” J.P. Morgan Chase -7.5% -14.2% -10.9% $40.65 vative, and they have a strong asset qual- also hit last year by a one-time charge of ity history.” He rates the shares a “buy.” $13 million relating to its holdings of pre- COMMENTS? [email protected]

THIS IS OUR MARKET... STOCKS TO WATCH by Erik Ipsen Free-falling dollar injects fresh vigor into Becton-Dickinson’s export earnings TALK ABOUT aging stars performing like youngsters. Becton-Dickinson, the 111-year-old medical equipment maker, sets the standard. Its shares have risen 19% in the past year and are still rated as a “buy” by most analysts. A weak dollar has given overseas sales of hypodermic needles and other products a big boost. And recent acquisitions of a pair of diagnostics companies look like they will pay off handsomely. Maybe it’s a case of guilt by association. Despite assertions by Bowne that business is good and that it will post full-year results next week in the top half Admit One, the trusted source for the acquisition and sale of live event tickets for over 20 years… of the previous-estimate range, the stock has become a dog. It has fallen by On the Buy side and Sell side — we offer our clients true market value, secure transactions 25% since the start of the year, to $13.27 on Friday. The company is not just and dependable service. Let Admit One connect you and your clients to the events a printer but a financial printer—a modifier that is now anathema to many that matter. Call today, our market makers are standing ready to investors. BUY or SELL all NBA and NCAA tickets. Investors just can’t get a charge out of owning Con Ed. While most utilities shined last year, Con Ed flickered, its stock rising less than 2%. The utility hit a 52-week low last week and is down 16% so far this year. Per-share BigBig East East and and earnings are widely forecast to fall •C•CONCERTSONCERTS this year owing to the dilutive impact (646) 307-4239 FinalFinal Four Four Tickets Tickets of a new share issue and lower power www.admitone.com • email: [email protected] NowNow Available Available•T•THEATERHEATER demand from a cooling economy. On the bright side: The shares now offer a 1412 Broadway, New York, NY PORTSPORTS SS dividend yield of over 5%. On the Bloomberg Terminal: Type TIXX or email [email protected] charts: lindström bekka

4 | Crain’s New York Business | March 3, 2008 Project1 9/7/07 5:09 PM Page 1

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©2007. Troutman Sanders LLP CNYB 03-03-08 A 6 2/29/2008 5:20 PM Page 1

NEW YORK,NEW YORK edited by Valerie Block

Lotta shakin’at K-Rock azz station cd 101.9 has flipped to rock. Now, rumors are swirling that rock station WXRK- JFM might go country. Dismal ratings and word that the contract for morning hosts Opie and Anthony (right) will be up in April are spurring talk about the CBS Radio station known as K-Rock. Whoa, says a CBS Radio spokeswoman. “That rumor is older than I am.” Indeed, country music fans have been let down before. New York hasn’t had a country station since 1996 because corporate programmers believe the format can’t grab big ratings in this market. But industry insiders insist that some change is due at WXRK, which ranked 22nd in the fall Arbitron survey.“They’ve got to do something,” says Mark Lefkowitz, media director at Furman Roth Advertising. Maire Mason, K-Rock’s general manager, says that portable people meter ratings—which won’t be official until the fall and favor rock formats—show that the station increased its share of listeners among key male audiences in each of the past three months. “K-Rock has tremendous brand recognition in the market,” Ms. Mason says. “There are no plans to change the format.”

West 42nd Street location.The Viewers tune out Discount first two events attracted 130 WNBC news harbor cruise onlookers who got to nibble, while learning how to cure salmon and february sweeps month was in april, Statue Cruises will spot the differences between wild Trattoria Dopo Teatro unkind to WNBC news, launch a New York harbor trip and farm-raised salmon. according to Nielsen.The local that seriously undercuts the The next demo, on March 20, station’s 6 p.m. news competition. For just $12, tourists will focus on how to braise short program, anchored by will be able to tool around lower ribs. Lynda Baquero and David Manhattan from the Brooklyn “I’ve seen a lot of these Ushery, dropped to fifth Bridge to the north end tastings, where a high-profile chef place from third among of Battery Park to see the comes in. It costs a lot of money, 25- to 54-year-old sights. Companies like and the average person can’t afford viewers—the Circle Line charge at least it,” says Starwich Chief Executive demographic most $20 for similar service. Spiro Baltas. “This is our way of important to advertisers. The new tour giving back to our customers.” Only 66,000 viewers tuned will also boast the Escape the hectic work day with a relaxing lunch at in, down from 122,000 a closest views of Contributors: Lisa Fickenscher,

Trattoria Dopo Teatro. year earlier. s Lady Liberty and Matthew Flamm Daily lunch and dinner o t

At 11 p.m., the story o Ellis Island. Statue

h p

specials. Party rooms available. isn’t much better.The k Cruises, which

c KEYPAD GOURMET o

newscast lost 49,000 t recently won the s

www.dopoteatro.com i 125 W. 44th Street viewers and dropped to National Park Service LAST WEEK, Tabla and FreshDi- 212.869.2849 [email protected] third place from second. Even its contract to ferry passengers to rect launched the latest in the 7 p.m. show, the only news those landmarks, can motor online grocer’s line of microwav- program on the air at that hour, within 50 yards of the islands. able haute cuisine. Restaurateur fared badly. Just 91,000 viewers Other harbor boats must remain Danny Meyer, Tabla Chef Floyd Happy Hour M-F 5-8pm watched Chuck Scarborough. outside the security zone of Cardoz and FreshDirect Chief Entertainment show Extra several hundred yards. Drink Specials, Free Appetizers & Group Discounts Executive Steve Michaelson attracted 164,000 viewers in the “You won’t need a telephoto hosted a coterie of guests, who Terry same time period a year ago. lens to see the statue,” says feasted on halibut in Bengali MacRae Such numbers might be the , Statue Cruises’ chief mustard-seed curry and Goan reason for WNBC’s executive. shrimp chili fry right out of the announcement last week that nuker. Tabla follows upscale news director Dan Foreman is stepping down. Free demos eateries Picholine and Rosa Mex- “Dan is not leaving because of on the menu icano into the microwave. Next ratings. It was a decision he made up for FreshDirect: four-minute to move on. He’s been at the cooking lessons and tastings vegetarian fare in partnership Zanzibar station for 15 years, and he wants may conjure up thoughts of with Eating Well magazine. Restaurant Bar to look at new opportunities,” says upscale restaurants and celebrity a WNBC spokeswoman. chefs, but casual eatery Starwich 645 Ninth Ave. at 45th St. Meanwhile, Spanish-language Salads & Sandwiches just joined 212.957.9197 WXTV was a winner at 11 p.m., the club. www.zanzibarnyc.com jumping to second place from The five-restaurant chain [email protected] fourth, while WABC remains the recently began holding free

news leader among all stations. cooking demonstrations at its istockphotos

6 | Crain’s New York Business | March 3, 2008 Project5 2/25/08 11:14 AM Page 1

It’s pretty green at the Big Apple’s core. Fortunately, so is our power plan.

It’s called and it’s all about investing in New York’s future.

At Con Edison, we have an exciting plan for the future of New York. From gas and electricity to renewable sources of energy, we prepare for tomorrow while delivering the energy New Yorkers need today.

EnergyNY encourages New Yorkers to use energy ef!ciently for the good of the environment. We promote EnergyStar appliances and offer green tips online at www.conEd.com. All of New York needs to come together for a better energy future.

EnergyNY supports investment in our city’s energy future—continuing to maintain and expand a strong, ef!cient, reliable infrastructure to power New York today and tomorrow. We want New York to hold us accountable to our plan. We invite you to !nd out more at www.conEd.com/EnergyNY.

ON IT…TODAY AND TOMORROW.

www.conEd.com CNYB 03-03-08 A 8 2/29/2008 8:23 PM Page 1

any of the spaces banks abandon. greens from moving in.Now,Duane Agents are eyeing a 5,000-square- Reade is closing dud spaces and Banks put stop to branching out foot property at 150 Fifth Ave. that opening new shops more carefully. Chase leased right before it bought Continued from Page 1 Bank of America’s New York mar- two branches in the same building Bank of New York in 2006. Outbidding everyone firms. “For the past three or four ket. in some places,” says Jeffrey Rose- “A year and a half ago, we couldn’t the bank slowdown comes after months,there haven’t been any banks The deals started drying up late man, an executive vice president get anyone to respond [to our let- the firms paid as much as 50% above coming through here.” last year, says Neal Ohm, a real es- with Newmark Knight Frank Re- ters],”says Robin Abrams,a Lansco the market rate to outbid tradition- While market saturation is a cul- tate broker at CitySites Commercial Corp. broker who heads up the re- al retailers for coveted corner loca- prit in the turnabout, experts point Group. At the time, he had three tail committee for the Real Estate tions.Landlords preferred banks for to the credit crisis as another major banks making offers on a 3,000- ‘You had up to Board of New York. “Now they’re their solid credit. factor. Banks have lost billions from square-foot space on the corner of showing some interest.” “You had up to eight big banks the subprime mortgage meltdown. Grand and Center streets in NoLI- eight banks Although the landgrab has virtu- competing for every good location Citigroup alone reported write-offs ta, but “within a week, they all ally ended for financial firms, most that came open,” Ms. Abrams says. of $18.1 billion for the fourth quar- backed out,” Mr. Ohm says. bidding for every are still looking for good deals in un- Neighborhoods that turned into ter of 2007. Another major player in derbanked neighborhoods. Just last dull, bank-and-Starbucks corridors the branch bonanza, J.P. Morgan Lowering expectations good location month Wachovia opened a branch may again boast clothiers and cafés Chase, wrote off $1.3 billion. Banks he has since lowered the asking in East Harlem, and the Bank of over time. just don’t have the cash to keep rent by 15%,to $120 per square foot, that came open’ America took a space on the Upper Plenty of retailers hope to land building branches at the same fran- to lure other tenants. East Side. more space without financial firms tic pace.Without them to bid up re- Brokers and landlords expect the Overzealous retail expansion is a gumming up the bidding. Fast- tail space, rents could start drop- financial institutions to start sub- familiar tale in Manhattan. Years fashion chains such as H&M and ping, brokers say. leasing underperforming locations ago, drugstore chain Duane Reade Zara are looking for more locations Even bankers admit that the ex- soon.They may also dump spots in- tail. “Now starts the retraction.” opened dozens of stores, sometimes in Manhattan, as is Modell’s Sport- pansion days are behind them. herited through mergers. Retail brokers are jumping at the on the same block as existing shops, ing Goods. “There is an end point in sight,” Chase, which recently bought chance to get clients like Steve just to prevent national competitors says Jeff Barker, region executive for Bank of New York, “is stuck with Madden or American Apparel into such as CVS/pharmacy and Wal- COMMENTS? [email protected]

reach,” says Greg Sterling, principal analyst for Sterling Marketing In- Revamped AOL just can’t get any respect telligence.

Continued from Page 2 News and AOL Money & Fi- year. It cleaned up their layout Valuable acquisition Even AOL admits that boosting nance,to attract more eyeballs. by stacking stories in a list and even some of AOL’s newer sites are ad revenue may take some time. It AOL has also launched two adding popular features like gaining audiences. AOL launched expects first-quarter ad sales to be dozen sites, like Asylum.com, blogs and videos. Asylum.com two months ago. In flat or slightly down. its first men’s lifestyle site, and Mr. Wilson says he’s start- January, the site attracted 2.1 mil- But the company remains opti- AOL Kids. ing to see progress. Many of lion unique visitors, doubling traffic mistic and is encouraged by Time According to AOL, Janu- AOL’s sites have climbed the from December. Warner’s recent decision to separate ary page views to its sites col- rankings in categories tracked “We are focused on providing the AOL’s declining dial-up business lectively were up 31%, to 17 by research firm comScore best offering in each vertical and from its online advertising opera- billion, and unique visitors Media Metrix. For example, syndicating our content on the tions, giving AOL the green light to were up 29%, to 109 million, AOL Music, with 20 million Web,” says Mr. Wilson, adding that invest all of its resources in the on- versus the prior year. NEW SITES: AOL launched Asylum.com two months ago. unique visitors, edged out Ya- the company plans to launch more line unit. “We feel good moving into hoo Music and was the No. 1 sites this year. 2008,” says Mr. Wilson. music site in January. AOL If AOL succeeds in boosting ad Improving Web content “When you have audience and en- to its different online properties. Money & Finance, with 13.9 mil- revenue, it will become a valuable “time warner has empowered us,” gagement growth, revenue and ad- “We have multiple brands and lion unique visitors in January, is acquisition target or asset to Time says Bill Wilson, executive vice vertisers will follow.” offerings to connect with consumers gaining on leader Yahoo Finance, Warner, especially amid a possible president of AOL Programming. AOL no longer strives to become and advertisers,” says Mr. Wilson, with 18.8 million visitors, and Microsoft/Yahoo combination, an- AOL began ramping up its on- a portal or the home page on con- pointing to two of AOL’s most pop- moved up to second place from third alysts say. line advertising technology last year sumers’ Internet browsers. Aware of ular sites—entertainment site the month before. “I would not discount AOL’s sig- through $900 million worth of ac- the public’s increasing dependence TMZ.com and African-American Getting ranked in the top three nificance yet,” Mr. Sterling says. “It quisitions. At the same time, it has on search engines like Google to site AOL Black Voices. spots based on traffic in any catego- will continue to boost its appeal.” been enhancing the content on its find what they want on the Web, To attract more people to its oth- ry will eventually lead to more rev- 75-plus Web sites, such as AOL AOL relies on them to drive traffic er sites, AOL redesigned them last enue, analysts say. “Marketers want COMMENTS? [email protected] CNN triumphs over Fox News

Continued from Page 1 owned Fox News with its primary ratings partly because the political third in the cable news universe, has coverage. trends are now working against it. also been riding the wave, scoring a Of the 10 nights of election cov- The channel, launched 11 years 71% jump among 25- to 54-year- erage that started with the Iowa cau- ago by one-time Nixon television olds, the target audience for news. cuses, CNN has won eight in the strategist Roger Ailes,has long been Fox News was up only 10% during 25- to 54-year-old category. associated with the Republican Par- the same period, according to MSNBC and Fox News have each ty. The perception that Fox News DEBATES among the Nielsen Media Research. won one. leaned right was good for ratings presidential candidates, including CNN is enjoying the shift in its when conservatism and President Barack Obama and fortunes. A liberal draw George W. Bush were popular. It’s Hillary Clinton, have “It’s not that important to win younger viewers in particular not good at a time of confusion and given CNN and MSNBC one month,” says Jonathan Klein, have been drawn to MSNBC by its division among Republicans, and record ratings.

president of CNN/U.S. “What’s outspokenly liberal host, Keith Ol- enthusiasm and new blood among getty images important is the trend, which is bermann. The NBC Universal- liberals and independents. clearly going our way.” owned channel actually drew more “Fox News is the ‘old white guys’ Mayor Rudy Giuliani,who was not a when the election season is over. The ratings surge echoes what 18- to 34-year-old viewers than Fox newscast,” says Dow Smith, associ- favorite with the conservative wing. Furthermore, news, like politics, has been happening on the cam- in the month of February. ate professor of broadcast journal- “Conservative Republicans have is cyclical. paign trail. Record numbers of “The playing field has never been ism at Syracuse University. “Young tended to look to Fox News for “In February, Fox News paid the young people and minorities have closer among the three of us,” says people who are engaged in politics straight news and information— price of its successful tactics over the been flocking to the polls and to ral- NBC News Senior Vice President for the first time because [the candi- and they were getting cheerleading last decade, which were to win by lies held by Democratic front-run- Phil Griffin, the executive in charge dates are] not the same old team for certain candidates,” says Cliff ideological targeting,” says televi- ner Sen. Barack Obama. of MSNBC.“Fox doesn’t own cable would not be drawn to Fox.” Kincaid, editor of the Accuracy In sion news analyst Andrew Tyndall. This heightened interest on the news the way it did a few years ago.” Some on the right have also been Media Report. With that strategy, “you lose when Democratic side has fueled record A Fox News spokeswoman did dissatisfied with Fox News’ election Fox News does have one advan- the other side is making news. But ratings for the debates that CNN not respond to phone calls or e- coverage. Early on in the campaign tage over the other channels:Its core you win when your side is.” and MSNBC have hosted, and has mails requesting comment. season, the channel appeared to viewers tune in even when news helped CNN beat News Corp.- Fox News may have stalled in the throw its support behind former events quiet down. That will help COMMENTS? [email protected]

8 | Crain’s New York Business | March 3, 2008 CNYB 03-03-08 A 9 2/29/2008 2:51 PM Page 1

“You couldn’t pick a more difficult envi- Pandit’s big deadline ronment to start a turnaround,”says Pe- Continued from Page 1 an analysis last week by Chad ter Kovalski, a port- Whitney Tilson, co-founder of T2 Brand, president of Peridot Capital folio manager at Partners, a Manhattan-based in- Management, put the current Alpine Woods Capi- vestment firm that specializes in breakup value at no more than $41 a tal Investors, which battered stocks on the brink of re- share—a price the shares hit as re- owns about 900,000 bound,who has steered clear of Citi. cently as October. Citi shares. “Management is still playing the Mr. Kovalski, like game of trying to please Wall Street, Been there, done that many investors, con-

rather than do the tough things that “management has an argument lindström bekka cludes that Citi’s are best for the company.” that they could get Citi [back] to problems are so big Topping many people’s lists of that level without a breakup,” Mr. to rack up losses at the ruinous pace of exposure to off-balance-sheet and complex that the company is needed remedies is an aggressive Brand says. it has set since the summer. Just last vehicles known as variable interest best off being broken up. Mr. Pan- round of staff cuts. Bill Smith, chief By the time Mr. Pandit sets foot month, for example, Citi warned entities. In addition, it faces rising dit, unlike his predecessors, has de- executive of Smith Asset Manage- on the stage in Carnegie Hall,how- investors for the first time that it losses in consumer lending, com- clined to dismiss the idea. ment and a longtime Citi share- ever, the die may already have been faces as much as $152 billion in mercial real estate and leveraged holder, believes the bank needs to cast on asset sales if Citi continues potential losses on its $356 billion loans as the economy softens. COMMENTS? [email protected] shrink its ranks by about 45,000 people. Citi, which employs 374,000 worldwide, including about 27,000 in New York, said last year that it would eliminate 17,000 employees. Critics point out that Citi’s revenues per employee stand at $218,000—a third less than Bank of America’s and far lower than J.P. Morgan’s $394,000. “Citi is grossly bloated,” says Mr. Smith. He points out that the prob- lem extends all the way to the top— to a hugely unwieldy management committee that boasts 120 execu- tives, more than double J.P. Mor- gan’s 50.Citigroup declined to com- ment. Many observers also believe that Mr.Pandit will have little choice but to halt Citi’s dividend. In January, the bank slashed its quarterly payout by 40%, but that still puts it in line to write $6 billion worth of dividend checks this year. That makes little sense, given that Citi has already turned, hat in hand, to investors to raise billions in fresh capital and will need to raise still more billions if, as appears likely,it takes additional as- set write-downs. “It’s insanity at this point to be paying any dividend at all,” Mr. Tilson says.“It should be suspended Not everything in life requires teamwork. until Citi has a better sense of its li- But it sure helps with complex legal issues. abilities.” Selling the jewels many people are pushing Mr. Pandit to sell off parts of Citi to raise more cash.Oppenheimer & Co.an- alyst Meredith Whitney last week forecast that Citi will need to sell $100 billion worth of assets this year. Mr. Smith argues that logical- ly, Smith Barney should be the first to go. As a stand-alone, the asset manager could be valued at around $16 billion. The rub is that parting company with Smith Barney would be painful, considering that it ranks as Citi’s healthiest business at this point, with net income soaring 34% last year to $1.4 billion. “Under duress, [Citi] will likely be forced to sell what it can and not There can be acres of issues you face with any legal matter. And Buchanan Ingersoll & Rooney is ready to help at every turn. what it should,”warns Ms.Whitney. Not only do we offer some of the finest lawyers in the nation, but we’re adept at working together as a team. That means you The big question,though,is how have access to attorneys throughout our law firm, across every practice area, from Financial Services, Corporate Finance and much Citi can get in what the mar- kets would surely see as a fire sale. Intellectual Property to Litigation, Tax and more. So whatever challenges you face, our lawyers can help you tackle them. Some observers reckon that divid- Get to know our excellent team at buchananingersoll.com/team. You’ll see, the grass really is greener over here. ing the company’s commercial banking, investment banking and retail brokerage units into separate MAKING A CASE FOR TEAMWORK businesses is no longer the slam dunk it was once thought to be. In late 2006, Manhattan hedge fund manager Thomas Brown Ellen L. Shapiro One Chase Manhattan Plaza, 35th Floor New York, NY 10005-1417 T 212.440.4400 F 212.440.4401 pegged Citi’s breakup value at $61 a share, a level last seen in 2000. But

March 3, 2008 | Crain’s New York Business | 9 CNYB 03-03-08 A 10 2/29/2008 3:00 PM Page 1

Dropout problem plagues city

Continued from Page 3 dropout rate—a measure that ac- at least another year for the bill to get acerbates the problems businesses counts for those who have re-en- through Congress. face because of New York’s shrink- rolled to get either a diploma or Meanwhile, additional parental ing talent pool. Dropouts could also GED—shrank slightly, to 14.6% in involvement and teacher mentoring cost the city tens of billions in lost 2005-06 from 16.3% in 2003-04. make students feel more engaged, tax revenues and increased social While the cohort figure suggests and getting them to participate in service expenses. that the city’s Department of Edu- the community allows them to see a “If we don’t deal with them cation is making progress with ex- role for themselves if they graduate, through more programs, we are go- isting dropouts, the event number education experts say. ing to deal with them through the indicates that it has been less suc- Take Ariana Giorgio,16,a soph- justice system,” says Hector Batista, cessful at reducing the flow of new omore at the Wings Academy in the executive director of Vocational ones. Bronx. She was already shaky in her Foundation Inc., a nonprofit that studies, but her mother’s death in helps youngsters get job training Calling Congress December sent her over the edge. A and GEDs. nonprofits hope for more federal teacher noticed her distress and be- The Bloomberg administration funds to get ahead of the problem as gan talking to her after class. After has been spending in an effort to well as assist those who have already learning that Ms.Giorgio was inter- solve the problem. In 2005, the city left school.For example,the amount ested in becoming a police detective, established the Office of Multiple of government funding that Voca- school officials got her into a police Pathways to Graduation to help tional Foundation receives has cadet training program that requires troubled teens obtain diplomas. It shrunk from $1.6 million to about she stay in school. Her grades are budgeted $31.4 million this year, $200,000 since 2003. now improving. “WE NEED to muster the political and it plans to add $14.5 million Last year,Mr.Rangel introduced “When you see how all the will to fix this,” says over the next two years for targeted the National Dropout Prevention teachers care about you and support Cary Goodman of services such as transfer and night Act, which would earmark $2.5 bil- you,it makes all the difference,”Ms. Directions for Our schools and GED programs. lion for the neediest schools; a siz- Giorgio says. Youth. As a result of these initiatives, able portion of the money would go

what the city calls the “cohort” to New York City. But it could take COMMENTS? [email protected] larry ford

knock on doors and attend meetings Unions tie rezoning issues to wage rules in an effort to block the rezonings. There are signs that the union message may be gaining traction. Continued from Page 3 to reform the state’s industrial de- Talks late last week between labor entire community,” says Mike Fish- Last month, City Councilman keeping people in poverty, then I velopment agencies. The state As- and city officials produced little man,president of Local 32BJ,which Hiram Monserrate, D-East question what benefit is being pro- sembly passed a bill that requires progress, but both the union coali- represents building service workers, Elmhurst, withdrew his support for duced for the community.” companies receiving IDA subsidies tion and opposition groups are con- and a CLC executive board member. the mayor’s $3 billion plan to trans- The campaign—spearheaded by to pay fair wages, but the Republi- tinuing to seek Mayor Michael Opponents of the union drive form hardscrabble Willets Point the umbrella New York City Cen- can-controlled state Senate rejected Bloomberg’s support. have told the mayor that the city into a mixed-use development with tral Labor Council and supported the idea. “There’s no reason why the city would have to accept lower bids housing, retail space and a hotel. In by most of the city’s major unions— For now, the zoning battle is be- shouldn’t require developers to en- from companies for the right to de- a letter to the city, he wrote that he comes on the heels of labor’s effort ing waged behind closed doors. sure that future projects benefit the velop projects that come with wage will back the project only if the city mandates. guarantees good jobs and affordable “[The coalition members] housing. should go out and do the tradition- A spokeswoman for the Econom- al work of unions,which is to organ- ic Development Corp. says many Equal Opportunity Lender ize,” says Steven Spinola, president past development projects have cre- of the Real Estate Board of New ated prevailing-wage jobs.A Depart- York. “Instead, they’re asking gov- ment of City Planning spokes- ernment to do this.” woman says economic questions fall Advantage: You Mr. Spinola says that developers outside the land-review process. working on large projects like the The union group is zeroing in on mixed-use Willets zoning because Point plan would unions have enor- Introducing likely pay union Labor unions mous influence in ADVANTAGE BANKING construction wages the City Council, anyway, although have amassed which has the final from Atlantic Bank. the city should not say on land-use is- mandate such rates. lots of clout sues.While zoning Now you can create a Business Advantage Relationship by linking He points out that decisions are sup- your Business or Commercial Checking to a Business Money Market the push to compel in the Council posed to be made Account. The combined balances make it easier to avoid monthly tenants to pay liv- based on land-use fees, reward you with preferred rates on your Business Money Market able wages would criteria, there is Account, and provide a host of value-added services. make it impractical plenty of room for for many retailers to council members • Avoid Checking Account Fees • No Application Fees rent space. to make it clear that their support • EARN Premium Money Market Rates • Financing Options Another opponent, Kathryn depends on other concerns. • Cash Reserve for Business* • Telephone Banking Wylde, president of the business “The land-use aspect has to be • Free Internet Banking** • Plus, much more! group Partnership for New York judged as to the land-use implica- City, says wage stipulations would tions,” says former Councilman For additional information call: 1.800.535.2269 • www.abny.com have a “chilling effect” on econom- Walter McCaffrey, now a consult- ic development. ant.“But it’s important to recognize *Subject to credit approval. **For your online security, information provided will be verified by the Bank. Once “When economic times and that legislators can look at a project the verification process is complete, your Free Online Banking and Bill Payment Account will be activated and credit availability are as difficult as and decide how they’re going to vote ready for your use. No monthly service charges apply. A separate fee applies for optional services such as they are today and are likely to be based on any number of factors.” Money HQ®. Please talk to a branch representative or ask for our fee schedule for more details. for the next few years, this is the As far as Mr. Appelbaum of the worst possible time to be taking this retail workers union is concerned,the type of action,” she says. legal niceties are beside the point. “The means isn’t as important as Mobilizing members the concept,” he says. “Economic if negotiations stall, union development needs to be more. It Your partner for success leaders are likely to take their case to needs to be equitable development the public, waging public relations and not just for the developers.” Nineteen convenient locations • Brooklyn • Manhattan • Queens • Westchester campaigns and deploying an army of members to pass out leaflets, COMMENTS? [email protected]

10 | Crain’s New York Business | March 3, 2008 Project5 2/22/08 4:11 PM Page 1

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200872 CNYB 03-03-08 A 12 2/28/2008 8:05 PM Page 1

VIEWPOINT The mayor’s next campaign editor in chief Rance Crain publisher Jill R. Kaplan

ith his long presidential clearly were laying the groundwork for a campaign. EDITORIAL flirtation put to rest, Mayor Against this backdrop comes the struggle to win approv- editor Greg David deputy managing editors Valerie Block, Michael Bloomberg faces a new al of congestion pricing, which must be voted on by the end Erik Ipsen problem: how to remain of the month. While both proponents and opponents have assistant managing editor Robert Hordt relevant in his 22 months as a jiggered polls to support their cause, it is clear there is no contributing editor–reports lame duck. His future clout may public groundswell to impose a steep fee for driving in Elizabeth MacBride columnist Alair Townsend depend entirely on whether he Manhattan. The qualified support of Mr. Thompson and senior reporters Aaron Elstein, Erik Engquist, can convince the City Council and the state Legislature to Ms. Quinn could be at risk as they take their own reading Lisa Fickenscher, Matthew Flamm, Samantha Marshall, Miriam Kreinin Souccar approve his congestion pricing plan. of public sentiment as they prepare for the 2009 race. reporters Theresa Agovino, Barbara Benson, W Elisabeth Butler Cordova, Amanda Fung, In some ways, the mayor’s problem is the inevitable result Suburban legislators remain overwhelmingly against the Daniel Massey, Hilary Potkewitz, Gale Scott, of the political calendar, and in other ways, it is the result of plan. Democratic Assembly members will be putting Matthew Sollars his decision not to run for president. restaurant critic Bob Lape pressure on Assembly art director Steven Krupinski All mayors lose clout in their last two years as the next Congestion Speaker Sheldon Silver deputy art directors Carolyn McClain, Daniel Mednick mayoral campaign gets under way and allies—this time not to back the mayor. staff photographer Buck Ennis Comptroller William Thompson and City Council pricing fight Republican senators copy desk chief Wendy Zuckerman Speaker Christine Quinn—become more independent as from Long Island, copy editors Michele Arboit, is a test of Thaddeus Rutkowski they seek to establish their own bona fides for the job. The desperate to turn back research editor Denise Southwood associate research editor best deputy mayors and commissioners drift off to private Mike’s clout Democratic challengers Adrianne Pasquarelli sector jobs, and few stars want to join an administration in this November, have www.crainsnewyork.com its waning days. every reason to stand online reporter Kira Bindrim The demise of Mr. Bloomberg’s presidential dreams will against the mayor. EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 accelerate this process. For months, his aides have insisted It will take an editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 that the speculation about a White House run at least kept aggressive effort by the mayor to push through congestion Cable craincom nyk him in the spotlight and made others wary of deserting him. pricing. Much is at stake for him as well as for the city. Fax 212.210.0499 Entire contents ©copyright 2008 Crain Now that argument gets turned on its head. Without the Doing so will convince other politicians that he remains a Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP prospect of a presidential campaign, he is just like any other force to be reckoned with. Failing to do so will endanger Inc., used under license agreement.

mayor finishing out his term. many other important initiatives. TO SUBSCRIBE: The mayor’s reputation for straight talk has been Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. tarnished by his denials that he was running while his aides COMMENTS? [email protected] www.crainsnewyork.com ADVERTISING AND MARKETING advertising director Jeff Adler senior account managers LETTERS TO THE EDITOR Robert N. Grossman, William E. Squitieri account executives Andrew Carlin, Robert Christiaanse, Irene Irvill, Courtney McCombs, Jennifer Siniscalchi western account manager Ellen Mazen (Los Angeles) 323.370.2477 Labor’s take on reform of IDA sales manager, classified print & online John Gallagher PROJECT SHAREHOLDERS newsletter product manager INCLUDE WORKERS, TOO 40-point loss to a terrible team. True, [Steve Ross and Steve Catherine Evans Gittens michael leible Roth] need to pay real attention to sales coordinator, print & online in her feb. 25 column, “The the wayward Dolan. His behavior Lulé Haznedari sales coordinator Anita Perrino hook hanging New York out to DOLAN AND THOMAS: will certainly affect their efforts at credit Pat Grondziak 313.446.6082 dry,” Alair Townsend misses the HEART OF THE MATTER revitalization. But to reduce all the marketing director Amy Crossman bigger picture on industrial issues involved with Dolan and the marketing manager Jill H. Bottomley development agency reform.The greg david’s column neglected to Garden to the effect that they have marketing coordinator Jenny Mashberg labor movement’s goal is not mention that many Knicks fans are on the two Steves’ revitalization circulation manager Andrea Richardson assistant circulation manager necessarily to reduce competition disgusted not only by the team’s plan is disrespectful to women and Rosalie Ford from nonunion operations, but to poor performance but by the Knicks fans everywhere. general manager, interactive ensure a fair return for working juvenile and arrogant behavior of the rev. pearl bates Marc Minardo men and women related to the Chief Executive James Dolan and labor they provide on these Isiah Thomas.They have BUYING FAVORS, NEW YORK PRODUCTION taxpayer-funded projects. consistently disrespected the fans, production and pre-press director SELLING OUT CITY Michael Corsi john h.howard Public policy that is designed their employees and city officials. advertising production manager to stimulate economic Moreover, since when does an greg david’s column is a good but Marilyn DeMilta development must have balance. such as living wage, transparency executive keep his job after being sad story about how to buy The workers on these projects are and accountability, and clawbacks. held liable for sexual harassment? political favors. I saw Jack Cafferty PUBLISHED BY CRAIN COMMUNICATIONS INC. chairman Keith E. Crain themselves taxpayers and should It would have been interesting if Is this a fitting example for the of MSNBC come out against the president Rance Crain be entitled to as fair a return on Ms.Townsend had addressed team to follow? Are the fans just Olympics because he did not want secretary Merrilee Crain this investment as the employers these as well. supposed to swallow Dolan’s to deal with two weeks of crowds. treasurer Mary Kay Crain receiving these grants. In fact, the denis hughes decision to keep [Thomas] in spite How selfish! executive vp, operations William Morrow state of New Jersey has had no President of his crime? eugene harrison senior vp, group publisher Gloria Scoby group vp, technology, circulation, difficulty covering IDA work New York State AFL-CIO manufacturing Robert C. Adams under prevailing wage. vice president/production & Ms.Townsend seems to PLENTY OF LOSERS WHAT’S COMING UP IN CRAIN’S? manufacturing David Kamis espouse a low-wage, low-road TO GO AROUND chief information officer Paul Dalpiaz economy that benefits only corporate circulation director Patrick Sheposh employers. bravo to Greg David for his Small Real Largest In regard to the bigger picture, Feb. 18 column on Isiah Thomas business estate hospitals in the founder G.D. Crain Jr. (1885-1973) the New York State AFL-CIO and James Dolan. How report report New York area chairman Mrs. G.D. Crain Jr. (1911-1996) has proposed a number of issues be appropriate that his column March 10 March 17 March 24 addressed regarding IDA reform, appeared the day after the Knicks’

12 | Crain’s New York Business | March 3, 2008 CNYB 03-03-08 A 13 2/28/2008 7:59 PM Page 1

which to build. The city has the largest gay population in the nation, because it is more welcoming than most places. Sheer numbers mean that gays can find more support here, in the form of gay profession- al associations,advocacy groups and companionship.They can live more open and personally fulfilling lives. There are gay employees in every sector,from financial services to real estate,from publishing and media to accounting and law.And it is impos- sible to imagine Broadway and the hugely important apparel and de- sign industries without gay workers. Many companies here recognize the needs of all their employees and offer partner benefits. That’s better than nothing, but no company can provide the full range of legal pro- tection that is required, as spelled out in the press release announcing the governor’s legislation: “Under current law, partners un- john h.john howard able to enter into a civil marriage— and their children—lack legal pro- tections taken for granted by married couples. In such areas as property ownership, inheritance, health care, Gay marriage hospital visitation, taxation, insur- ance coverage, child custody and pension benefits, married couples as a business issue receive important safeguards against the loss or injury of a spouse, and crucial insurance against legal Alair Townsend is away.This column was originally published May 14, 2007. intrusion into marital privacy.’’ Mr. Spitzer uses the term “civil ov.eliot spitzer has proposed legislation to al- marriage’’ for two reasons. First, his bill would not—could not—require low gay couples to enter into civil marriages—the religious institutions to marry gay first governor in the United States to do so.Why couples. Second, he wants to ensure should businesspeople in New York care? that all of the legal rights available They should care because it would give New under state law to married hetero- sexual couples are conferred. He G could have used the term “civil York a competitive ad- hostile territory for gays. union,’’ but that would reduce the vantage.Any edge in re- Many states fail to offer dignity and solemnity of the bond. cruiting and retaining basic legal protections, Mr.Spitzer’s bill faces intense op- top talent would re- and sexual preference is position. Senate Republican leader dound to our benefit. not a federally protected Joseph Bruno calls himself pro- The battle for the right. At least one pres- business, but he opposes this meas- best and the brightest is idential candidate,Tom- ure.Assembly Speaker Sheldon Sil- intense, and growing my Thompson, said in ver has avoided the matter thus far. more heated daily. Ask response to a question This is an issue where strong any IT administrator,ac- during a Republican de- business support could make a dif- counting recruiter or ad bate that discriminating ference. If executives aren’t com- sales manager.Desperate ALAIR against a gay employee pelled to take a stand based on the firms are posting job TOWNSEND was a private matter for belief that all their employees de- openings on Facebook a businessperson. He serve fair treatment, they should and using gym member- later said that he had consider their own self-interest. ships and iPods to lure candidates. misunderstood the question. Much of the country is extremely New York has a strong base on COMMENTS? [email protected]

CRAIN’S ONLINE POLL WILL BETTER BARISTAS FIX THE STARBUCKS BRAND? STARBUCKS CLOSED ITS stores last week for three Absolutely. The

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March 3, 2008 | Crain’s New York Business | 13 CNYB 03-03-08 A 14 2/29/2008 1:29 PM Page 1

Hillary Clinton’s presidential campaign. Reached in Ohio, where he’s stumping for her, Mr. Hochberg INSURANCE REFORM Money talks THE INSIDER says that he hasn’t plotted his next INSURANCE SUPERINTENDENT ERIC step and that rumors about a run Dinallo says he has found the key to by Erik Engquist and Matthew Sollars for city comptroller—a move he winning trial lawyers’ support for considered in 2001—are untrue. comprehensive medical malpractice reform and says he doubts that Attorney General Andrew Cuomo’s Council calls lawsuit against health insurers will Search for tourism for OTB rescue actually help consumers. Speaking last week at the Crain’s chief takes detour the city council will pressure Eric Dinallo breakfast forum, Mr. Dinallo said his Albany to save the city’s Off-Track proposals for malpractice insurance David inding a new chairman Betting sites. Councilman reform won’t be ready until midyear; he declined to discuss what specific Weprin, D-Queens, submitted a for NYC & Company, steps are being considered. resolution in January calling on But Mr. Dinallo said that a big premium hike he approved last year and the city’s visitor and Albany to change the OTB payout F the prospect of an even larger one this year have increased the pressure on tourism agency, might be more formula “so it’s based on net profit the lawyers. difficult than first thought. rather than gross profit.” As Finance Committee Doctors are informing their patients that big jury awards are driving up the According to sources, former cost of care, he noted, and “the patients go from the examination room in the ap images chairman, Mr. Weprin can Deputy Mayor Daniel Doctoroff determine when the resolution goes morning to the jury room in the afternoon.” and restaurateur Danny Meyer, both widely mentioned as to the full council for a vote; he He also took issue with Mr. Cuomo’s suit, announced in mid-February, possible successors to Loews Hotel Chief Executive Jonathan promises to move it as quickly as against UnitedHealth Group and its Ingenix unit over reimbursement for possible. out-of-network providers. Tisch as chairman of NYC & Company’s board, have too His resolution also has the Mr. Cuomo contends that Ingenix, whose data is used by many big many commitments to take on the position. backing of Speaker Christine Quinn, insurers to set physicians’ payments, was keeping reimbursements artificially The recruitment task has fallen to Tim Zagat (above), the who says she supports changes to low and forcing consumers to pay a larger portion of their bills for out-of- head of the guidebook company, who assumed the role of the state law. network services. Mr. Weprin says that if Mr. Dinallo says that even if the allegation is true, the only likely remedy is interim chairman late last month. He is also working to profitable OTBs close, “it’s not more disclosure, as forcing insurers to pay more for out-of-network coverage smooth relations between the board and NYC & Company going to help racing [or] the 1,500 could raise costs dramatically. CEO George Fertitta, who was appointed by City Hall after it OTB employees; it’s not going to He reiterated that he’s moving forward on reinstating prior state approval gave the organization a major funding boost. be helpful to anybody.” of health insurance rate increases. But he rejected the contention of health care providers that insurer profits were the cause of soaring health Board members derailed a plan to make Mr. Fertitta care costs. He said that the most effective thing the state could do to make interim chairman after Mr.Tisch’s unexpected resignation. Another Queens care more affordable would be to find a way to cover the more than 2.5 council contender million uninsured residents.

Management and Urban Policy, has ruben wills, chief of staff for steve raddock New School dean announced that he will resign Aug. state Sen. Shirley Huntley, D-Queens, departing 31. Mr. Hochberg served as head of will run for the seat that City for four years and founded New the Small Business Administration Councilman Leroy Comrie, York 4 Life, a community-based Changing horses; fred hochberg, dean of The New in the Clinton administration and D-Queens, is vacating in 2009. Mr. group that promotes financial staying the course School’s Milano School for has been a major fundraiser for Sen. Wills volunteered for Mr. Comrie literacy and civic responsibility. Several candidates are jostling with crucial democratic for the post. primaries in Ohio and Texas scheduled for Tuesday, fallout from the presidential campaign Business Council continues to roil local politics. on Broadway New York staff members from 32BJ and 1199 spent last week in the business council of New Texas and Ohio stumping for Sen. York State has signed a lease at 150 Barack Obama, even though they had Broadway, where the Albany-based previously backed Sen. Hillary Clinton group will open a satellite office (below). this month. Both locals, members of SEIU, “Wakefern Food Corporation/ShopRite relies on the port of Our region’s businesses rely on the port. The site’s staff will recruit campaigned for Mrs. Clinton New York and New Jersey to effectively remain the largest Without it there’d be no bananas for breakfast or members and provide services to before the Feb. 5 primary; SEIU retailer-owned cooperative in the United States. other products we take for granted. Think of it — downstate council members; Presi- announced its endorsement of Mr. As the region’s leading supermarket retailer, the port is responsible for: dent Kenneth Adams will work there Obama last month.The locals’ one or two days a week. switch is one of the first cracks in all of us at Wakefern Food Corp./ShopRite • More than $150 billion in cargo each year Mrs. Clinton’s New York support. understand the benefits of the distribution Assemblyman Vito Lopez, the • 236,000 full time jobs in the efficiencies that the port provides. With Mojo suggestions Brooklyn Democratic boss, is metropolitan area $9.9 billion in retail sales and nearly 50,000 for the governor sticking with Mrs. Clinton, despite • Serving 35% of the entire her campaign’s loss of 11 straight associates, we know what it takes to remain U.S. population gov. eliot spitzer’s best chance at state primaries and caucuses. competitive.Our customers depend on us for regaining his momentum is to Mr. Lopez organized volunteers The port of New York and New Jersey fresh products and low prices — we depend tackle the bond insurance crisis, to call voters in Ohio and Texas. is the cornerstone of the supply says Bill Cunningham, former They are working from a teachers on the port to help us keep that promise chain that we depend on. spokesman for Mayor Michael union phone bank in Brooklyn. to our customers.” Bloomberg. Mr. Spitzer needs a seemingly intractable problem to fight, says Joseph Colalillo Mr. Cunningham, who points to Chairman and CEO the governor’s way with thorny Wakefern Food Corporation issues when he was attorney general. Bond insurance affects everything Mr. Spitzer wants to The men and women of the port of New York and New Jersey... do—from improving mass transit to developing Hudson Yards. The governor needs to follow a story line that people care about, Mr. Cunningham says. “Instead, he New York Shipping Association, Inc. © 2008 frittered away a year [attacking] Joe

Bruno.” bloomberg news

14 | Crain’s New York Business | March 3, 2008 CNYB 03-03-08 A 15 2/28/2008 7:14 PM Page 1

SMALL BUSINESS

town friends—who contribute from Koreans shift eastward from Flushing $1,000 to $5,000 each a month. The arrangement has its down- side, though, such as limited loan their peers, as well as Korean banks, size and occasional fraud.As a result, Expand along churches and civic groups. owners increasingly rely on Korean Northern Blvd.; “The Korean community gets a financial institutions, including lot of support from their own people Nara Bank and Shinhan Bank,or on helped by networks to grow their businesses,” says Ed- branches of U.S. banks. Flushing that offer support ward Chu, manager of the Flushing Savings Bank offers brochures in Savings Bank on Roosevelt Avenue. several Asian languages, including Do Ri Kim and her husband, Korean, and has many multilingual BY CARA S. TRAGER Seung Tea Kim,are classic examples. employees. In 2003, just a year after coming to “We have actively taken part in purred by soaring retail the United States,the couple bought the growth of the Korean business rents in its longtime enclave Little Neck Meat Market, on community along Northern Boule- in downtown Flushing and Northern Boulevard in Douglaston. vard,” says A.J. Jin, Flushing Sav- by a steady migration of With their bilingual daughter, then ings’ senior vice president of loan

Koreans toward the Long a high school student, doing the pa- lindström bekka origination. SIsland border, the Korean small perwork, they financed the purchase In May 2006, Philadelphia na- business community in Queens has with a Chase Bank loan. of Flushing holds seminars on sub- five years, he has co-signed Korean tive Patrick S. Kim opened his vet- expanded eastward in recent years. jects ranging from commercial law American Catholic Credit Union erinary practice on the boulevard in Along a five-mile stretch of Right at home to immigration. loans ranging from $10,000 to Little Neck. A loan from Wachovia Northern Boulevard ending at the they still speak little English, The Korean Association of Cen- $20,000 for eight members of his National Bank and help from his fa- city line, the retail landscape is dot- but the Kims feel right at home. tral Queens, based in Woodside and congregation. ther, also a vet, let him outfit his of- ted with well-tended Korean- “Ninety percent of our customers founded in 1984, operates a hotline “If you say no, you feel guilty,” fice with more than $60,000 in owned businesses, from restaurants are Korean,” Ms. Kim says through that among other things directs Mr. Park says. equipment, including X-ray ma- to insurance brokers.Many trumpet a translator. businesses to city services. The chinery and a heated surgical table. their names only in Korean, a testa- Several groups offer guidance group’s long-running Smile cam- Traditional bonds “There was a need for a Korean- ment to the size of the community. and help. The eight-year-old Kore- paign encouraged proprietors to a commingling of guilt and a de- speaking veterinarian,” says Dr. But the growing Korean popula- an American Community Empow- smile at customers—a practice that sire to help peers also plays a part in Kim, whose practice bears English tion—which the 2000 census put at erment Council in Jackson Heights Korean shopkeepers would normal- one other key element in Korean and Korean signage.“I wanted to be 62,130—an increase of more than conducts voter registration drives ly regard as a sign of lunacy. life, geh: an agreement in which a in an area where I could serve not 26% from 1990—is only part of the and encourages businesspeople to John Y. Park, president of the group of entrepreneurs pool their just [the greater] community but the reason so many ethnic businesses are forge relationships with local gov- empowerment council, notes the money and rotate its distribution. Korean community.” thriving in Queens. Local entrepre- ernment officials. And the 33-year- supportive connections that can be Gehs typically involve 12 to 20 par- neurs are also drawing strength from old Korean American Association made through churches. In the past ticipants—usually family or home- COMMENTS? [email protected]

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

Times said it plans to launch a ECONOMIC SPOTLIGHT search for his replacement both inside and outside the company. Stony Brook gift adds up stony brook university received a $60 million donation from hedge fund manager James Simons to construct and endow a new math center on its Long Island campus.The largest gift in Stony Brook’s history, $60 million is also the most money ever donated to a public university in New York. Stylish seizure the new york police Department seized more than Playing both sides $1 million in counterfeit Gucci, Prada, Fendi, Rolex and Coach THE NEW YORK PHILHARMONIC gave performances in NORTH merchandise during a Chinatown AND SOUTH KOREA last week, a move that many hope will raid.The seizure was the result of a two-month probe by Mayor ease tensions between the longtime Cold War rivals. The Michael Bloomberg’s Office of Philharmonic opened each show with the host country’s Special Enforcement. Economy Watch national anthem, as well as the United States’, and received Area prices held steady in December, as lower shelter and apparel costs offset standing ovations in both countries for its performance of New home other categories. The NYC and U.S. jobless rates rose by 0.3 percentage points. “Arirang,” an unofficial anthem for reunification regularly for Smackdown NOVEMBER ’07 DECEMBER ’07 COMPARISON played at friendly events between the rival Koreas. NY area inflation change +0.4% 0.0% +3.7%1 news corp.’s MyNetworkTV will getty images be the new home of World NYC unemployment rate 5.1% 5.4% 5.0%2 Wrestling Entertainment’s WWE 3 DECEMBER JOB TOTAL 12-MONTH CHANGE Take-Two won’t Guggenheim Smackdown this fall.The show, NYC employment 3,650,700 +52,900 take $2 billion director departs which will air on the CW 1-Inflation rate for the latest 12-month period. 2-U.S. unemployment rate. 3-End-month figure, Network through the end of this not seasonally adjusted. take-two interactive Software after two decades at the helm, season, will continue as a two- Inc. rejected an unsolicited Thomas Krens will step down as hour cable program on Thursday NYC Hotel Stats Broadway Stats $2 billion, or $26-per-share, director of the Solomon R. or Friday night. takeover offer from Electronic Guggenheim Foundation later Occupancy dipped in December, Attendance and gross slipped in the Arts Inc.Take-Two Chairman this year. Mr. Krens will leave as but room rates held steady, says PKF week ended 2/24, according to The Strauss Zelnick said the company soon as a replacement is found, but Penguin launches Consulting. The full-year figure for League of American Theatres and would be willing to talk takeover, plans to continue advising the Hispanic imprint occupancy was 86.5%, versus 85.6% Producers. Through week 39 of the but only after its lucrative Grand foundation on international in 2006; the average room rate was season, the figures were 8.5 million Theft Auto IV hits stores in April. affairs, including its Abu Dhabi the penguin group launched $303.99, compared with $269.97. and $651.8 million, respectively. project. Celebra, an imprint for mainstream Hispanic New York Life Marking the Times personalities. Celebra has already picks new CEO signed authors that include an investor group led by hedge Geraldo Rivera, Perez Hilton and new york life insurance co. fund Harbinger Capital Partners Gloria Estefan, and about one- President and Chief Operating and investment firm Firebrand third of the imprint’s titles will be Officer Theodore Mathas (below) Partners increased its stake in The translated into Spanish. will assume New York Times Co. to 15.6% the role of from about 12%.The Times will Pfizer drops Jarvik chief meet this week with four potential executive on board members nominated by the pfizer inc. withdrew July 1, when dissident group. advertisements for cholesterol pill current Lipitor that featured Dr. Robert CEO Sy Jarvik (below), an artificial-heart Sternberg S&P, Moody’s pioneer, after members of Capital IQ’s Weekly Deals Report retires. Mr. ratings results Congress said the ads could be Mathas will misleading because Dr. Jarvik is TRANSACTION SIZE retain the buck ennis standard & poor’s and Moody’s not licensed to practice medicine. COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE role of president, and Mr. Investors Service affirmed their Pfizer spent over $100 million on HLTH Corp. $3,074.3 WebMD Health Corp. SB M&A Sternberg will stay on as chairman AAA credit ratings on bond the commercials last year. Elmwood Park, N.J. to aid in the transition. insurer MBIA Inc. S&P also —from staff reports and Nasdaq Stock Market Inc. $425.0 Not disclosed GCI affirmed its AAA rating on bloomberg news reports Manhattan MTA plans ahead Ambac Financial Group Inc., but Tender Loving Care $395.0 Amedisys Inc. SB M&A kept the insurer on credit watch. A Health Care Services Inc. Lake Success, L.I. the metropolitan Goldman Sachs Group Inc. unit Transportation Authority unveiled lowered its stake in Ambac from Byram Healthcare Inc. $132.0 OPG Groep NV SB M&A White Plains a $30 billion, five-year capital plan 7.8% to 2.3%. Angioblast Systems Inc. $5.0 Not disclosed GCI that includes infrastructure and Manhattan technology upgrades, as well as CEO out at About Familybuilder Inc. $1.5 DN Capital GCI work on the Second Avenue Manhattan Subway project.The plan includes about.com Chief Executive Scott Selected deals announced during the week of Feb. 17 for companies headquartered in metro New an expected $4.5 billion in Meyer will resign from the online York. GCI: Growth capital investment represents new money invested in a company for a minority funding from Mayor Michael reference guide on March 6, after stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. Bloomberg’s congestion pricing heading The New York Times Co. bekka lindström bekka getty images proposal. subsidiary for three years.The bloomberg news

16 | Crain’s New York Business | March 3, 2008 Project1 2/15/08 11:10 AM Page 1

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2008

Forunder t y

www.crainsnewyork.com/40under40

Photography by Buck Ennis

Michael Aiello Charissa L. Fernandez Jason Hirschhorn Dylan Lauren Michelle Peluso Maryam Banikarim Evgeny Freidman Asunción C. Hostin Chris Lighty Mark Pitts John Caplan James Gersten Jesse Itzler Michael MacDougall Sara Queen Kathryn Carter Shoshanna Lonstein Gruss Sarumathi Jayaraman Dionne Mack-Harvin Celine Rattray Joe Chan Pilar Guzmán OMikael Johnson Mark Mason Carley Roney 4Ken Davenport Scott Hagedorn Khajak Keledjian Maurizio Miglietta Phil Shawe Frédéric de Narp Robert Hammond Maggie Kwan Susan Moss Michael Steib Nancy Dubuc Matthew Higgins Ian Laird Evgeny Nudler Jane Wheeler CNYB 03-03-08 A 20 2/27/2008 6:02 PM Page 1

NEW YORK’S RISING STARS Editor’s note 40s symbolize MICHAEL AIELLO F16 MIKAEL JOHNSON F16 New York spirit MARYAM BANIKARIM F17 KHAJAK KELEDJIAN F6 JOHN CAPLAN F6 MAGGIE KWAN F13 hat makes a Crain’s “Forty under 40”? Every year, Crain’s reporters and KATHRYN CARTER F14 IAN LAIRD F20 editors ask ourselves that question, and every year, we find a remarkable group of businessmen and JOE CHAN F8 DYLAN LAUREN F20 businesswomenW working in the most competitive city in the nation who answer it. KEN DAVENPORT F11 CHRIS LIGHTY F18 Nearly 1,000 nominations were submitted at www.crainsnewyork.com, which made choosing the finalists for this year’s class of 40s harder than ever. We FRÉDÉRIC DE NARP F4 MICHAEL MACDOUGALL F20 sought out the best and brightest candidates, ensuring that we represented the vast variety of industries that NANCY DUBUC F16 DIONNE MACK-HARVIN F12 make up New York’s vibrant business community. The following pages are filled with stories of executives who have risen through CHARISSA L. FERNANDEZ F4 MARK MASON F14 the corporate ranks, entrepreneurs who’ve created their own fortunes, EVGENY FREIDMAN F21 MAURIZIO MIGLIETTA F19 leaders who use their talents to run nonprofits, and brilliant minds who serve in the medical profession. JAMES GERSTEN F12 SUSAN MOSS F10 The diverse group of individuals in these pages also represent the SHOSHANNA LONSTEIN GRUSS F18 EVGENY NUDLER F18 fashion, arts, finance and culinary professions. These women and men, who PILAR GUZMÁN F8 MICHELLE PELUSO F13 have succeeded in business at a young age, highlight the challenges and opportunities inherent in the city in SCOTT HAGEDORN F4 MARK PITTS F8 which they work.They’re tough, smart and driven. And they make New York a better place—by volunteering, by creating new products and services, and by making ROBERT HAMMOND F15 SARA QUEEN F16 opportunities for others as they forge their own paths. Read their stories here and go to MATTHEW HIGGINS F14 CELINE RATTRAY F21 www.crainsnewyork.com/40under40 to see video interviews with the honorees, in which they provide further details about their lives and explain how others JASON HIRSCHHORN F13 CARLEY RONEY F14 can follow in their footsteps. ASUNCIÓN C. HOSTIN F10 PHIL SHAWE F10

JESSE ITZLER F12 MICHAEL STEIB F11 Valerie Block Deputy Managing Editor SARUMATHI JAYARAMAN F6 JANE WHEELER F19

PSSST ... FORTY UNDER 40 VIDEOS 40S’ TRUE CONFESSIONS In their own words Who beat up an opponent during TO LEARN even more about this year’s 40s, check out their a high school video interviews at www.crainsnewyork.com/40under40. basketball game? In concise, informative clips, our 40s tell their own stories Who had to stare and offer some surprising details about their hopes, down a lion while dreams and plans. on a safari? At the same time, please browse our archives for Honorees share profiles of past 40s, dating from 1991 to 2007. See what deep, dark secrets Crain’s had to say about Kate Spade, Brian Williams, Philip and fun facts. Seymour Hoffman, Jeff Zucker and other honorees before Page F22 they made it big.

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NEW YORK’S RISING STARS FRÉDÉRIC DE NARP, 38 Chief executive, CARTIER NORTH AMERICA rédéric de narp is one of those handsome, confident people who unabashedly go after what they want and usually get it. His successful career track Fstarted when he paused briefly, at age 17, to choose between becoming an antiques dealer or an international businessman.The Brit- tany native picked the latter and got a mas- ter’s degree in international business from Le Havre University in France. At 21, with just $400 in his pocket, he moved to Tokyo with plans of selling either oil, airplanes or pre- cious stones. He chose Japan because of its team-oriented business culture. “In Japan, they don’t speak much; they listen,” says Mr. de Narp, a married father of six. “They teach you to learn from people above you and below you.” CHARISSA L. An entry-level sales post at Cartier Japan led to managing a store there in just three FERNANDEZ, years. Mr. de Narp went on to hold top jobs 33 with Cartier in Switzerland and Italy. In Chief operating officer, 2005, he conquered North America, where THE AFTER-SCHOOL CORP. he now manages 35 stores, including the Fifth Avenue flagship. harissa fernandez had a To reinforce Cartier’s reputation as a nerdy dream in high school: luxury brand while wooing a younger She and two girlfriends wanted clientele, the executive has paired Cartier with to open their own accounting projects such as the Art Basel fair in Miami firm. and has made sure celebs such as Scarlett CShe laughs now, thinking back on her teenage passion for math, but she’s grateful that she has been able to put it to work for Marginal slacker In Japan, they New York City’s schoolchildren. Ms. Fernandez is COO of The After-School don’t speak Corp., which has a budget of $30 million and a staff of 90. makes ad splash much; they Launched in 1998, the organization helped build a citywide system of after- listen’ —Frédéric de Narp school programs, and it supports 193 SCOTT HAGEDORN, community-based and cultural groups in their 37 work. Its mission is to blend academics, arts Managing director, East Coast, and sports to make time outside the classroom enriching for all students. OMD Johansson wear its baubles on the red carpet. Ms. Fernandez, who earned a master’s ‘‘Since 2005, the jewelry division of degree in education from Harvard, thought hen scott hagedorn graduated from Cartier’s parent company, Compagnie for a while that she should work directly the University of Florida with a degree Financière Richemont, has grown 25% to with children. She began her career running reach annual revenue of $2.4 billion. an after-school program in Washington in advertising during the recession of Mr. de Narp also uses his position to raise Heights, but her talents led her into 1992,there were no jobs.To make a quick administration, where she buck,he started The Famous Flying Bar- plays a valued supporting role. racuda Co., selling self-made, fiberglass “What’s so barracudas with fake owl wings for $400 extraordinary about Charissa is that she has a each through fishing suppliers like Orvis. passion for advancing WTo promote the company,he created and starred in television com- social justice for kids, mercials, which got the Miami native where he wanted to be. Ben while getting a thrill out of producing an elegant West,founder of Atlanta agency WestWayne,spotted Mr.Hagedorn budget,” says Lucy and offered him a job as a brand planner. all of OMD’s East Coast business, which Friedman, executive Seven years later, with the action mov- represents the bulk of the agency’s director of TASC. ing to the Web, Mr. Hagedorn co-found- $10.8 billion in billings in the United Ms. Fernandez grew ed digital agency Breatheinteractive. In States. up under the care of her 2002, WestWayne bought the shop, Mr. Hagedorn never imagined he’d single mom, a Jamaican which had grown to $125 million in make such a splash on Madison Avenue. immigrant who sent her billings. Soon after, Mr. Hagedorn landed “I always thought I would be a marginal back to the island nearly an even bigger gig, moving to Manhattan- slacker,dabbling in music with a quasi-de- every summer to help based Rapp Collins as chief interactive of- cent job,” says the one-time guitarist in an her aunt run a small ficer. Atlanta techno/rock band that toured money for charities, including The Elie travel agency. His ascent didn’t stop there. In 2006, with The Crystal Method. Wiesel Foundation for Humanity.“He is a “The things that were defining in my he joined OMD, a leading Omnicom His peers are less surprised by his suc- business leader and a humanist,” says the childhood happened outside the classroom, Group media agency, and in just six cess.Says Loren Grossman,Rapp Collins’ foundation’s namesake, renowned Holocaust when I was working or doing community months took over all of OMD’s digital global chief strategy officer, “He is a vision- survivor who met Mr. de Narp four years ago service,” says Ms. Fernandez, who has two give kids opportunities efforts in the United States.This year, he ary and a dynamite person.” and has since become a friend. “He’s an sons. “Our vision is to was given a broader mandate to oversee —amanda fung important asset to the financial world and to to apply the things they learn during the our culture.” school day.” —elisabeth butler cordova —anne michaud

F4 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business Project5 2/22/08 4:06 PM Page 1

If you know Ian, you know he’s just Empire BlueCross BlueShield getting started. congratulates all the 2008 “40 under 40” honorees including our own strategy guru, Ian Laird.

5620 (2/08) Services provided by Empire HealthChoice Assurance, Inc., a licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield plans. CNYB 03-03-08 A 24 2/27/2008 4:21 PM Page 1

NEW YORK’S RISING STARS KHAJAK City’s kitchen KELEDJIAN, 35 Chief executive, crusader INTERMIX n 1993, when many of his peers were SARUMATHI JAYARAMAN, 32 perfecting their keg stands, 19-year- old Khajak Keledjian quit college to Co-director, launch a chain of fashion boutiques. RESTAURANT OPPORTUNITIES CENTER UNITED He opened his first Intermix shop on IFifth Avenue and stocked it with edgy clothes that encouraged young fashionistas eceiving hate mail is the worst part of Saru Ja- to create their own styles by mixing and matching products—regardless of brand or yaraman’s work as an advocate for low-wage restau- price. rant workers. “I sometimes feel threatened,” she Less than a week after opening day, Mr. says.“But I can take the potshots if it helps us to ad- Keledjian knew he had found success— models and stylists had picked the store’s vance.” racks clean. With customers like supermodel The Yale- and Harvard-educated lawyer co- Christy Turlington scouring the shelves, the founded Restaurant Opportunities Center of New buzz grew. Windows on the World Fifteen years later, Mr. Keledjian is still York to help former employees of get back on JOHN CAPLAN, nurturing the fashion sensation he created Rtheir feet after Sept. 11.The nonprofit is now dedicated to fighting la- with his brother Haro. With 20 stores open, bor law violations in the city’s restaurant industry. and four more on the way, the duo expects to generate sales of $100 million this year, up Ms.Jayaraman’s battles with some of the most prominent restaura- 37 fivefold during the last five years. Chief executive, As a self-made man, he doesn’t regret teurs in the city, including Daniel Boulud graduate at UCLA, Ms. Jayaraman estab- FORD MODELS INC. leaving school to try retailing. and Alan Stillman, have netted workers lished a mentoring program for women of col- “This is instinct,” he says. “It’s not $580,000 in back pay. or that is now in 11 cities and won praise t’s hard to get John Caplan to brag something you can learn from a book.” Helping the disadvantaged is more from President Bill Clinton. about his accomplishments. When He discovered his love for fashion at a than a professional calling for Ms. Jayara- The activist, who shuns fine dining asked about how he turned Ford Mod- young age. Born man, whose passion was shaped by the spots (partly because she doesn’t think she els Inc. into a global brand for fashion and raised in struggles of her parents—immi- would be welcome) now organizes and beauty, as well as a YouTube phe- FORTIES Beirut, Lebanon, grants from India who worked restaurant workers around the nomenon, he’s quick to point out that he Mr. Keledjian was hard to achieve financial suc- country.ROC United Co-direc- I “stands on the shoulders of giants.” FACTS exposed to the cess—and those of her tor Fekkak Mamdouh is confi- While it’s true that Eileen and Jerry Ford, fashions of Paris Mexican-American high dent that the national initia- and later their daughter Katie, shaped the and London after school friends in Los tive will be as successful as famous modeling agency, it’s Mr. Caplan his hometown Angeles. the local one. who saw the bigger picture and helped Ford became entangled “I didn’t find a way “Saru is a visionary,” he Models cash in on its fan base. in civil war. In to channel my anger says. “If you put some- 28 “We’re a brand that people know and those days, his at injustice until thing in her hands, she trust as an authoritative source,” Mr. Caplan are family traveled college,” she says. will make it happen.” says. “It’s a platform for innovation.” throughout Europe As an under- —lisa fickenscher Since joining the company in 2002, he married for months at a launched a media division that produces a time.They moved fashion e-newsletter, which goes to more than to Queens in 1987, 250,000 people, and makeover videos.The and Mr. Keledjian clips have become YouTube’s 11th-most- took his first retail popular subscription series. At the same 25 job at a shoe store time, the company started representing have at age 16. photographers, stylists and make-up artists He has used his in addition to models. children success at Intermix With Mr. Caplan’s changes in place, Ford to help create a generated more than $120 million in revenue better life for his last year, and that figure has increased by parents, who left everything behind when 20% annually since Mr. Caplan came aboard. they fled Beirut. “He would never tell you Next, he wants to create a broadcast television this, but I find him to be exceptionally program and a line of beauty products for honorable,” says Rodney Bell, owner of Ford. consulting firm Concise Management Inc. Mr. Caplan developed his creative flair and Mr. Keledjian’s mentor. “He’s a good, while working at About.com, where he tough businessman, but his character is also previously served as the head of marketing impeccable.” and famously changed the dot-com’s name —elisabeth butler cordova from MiningCo.com. “John is a well-trained and instinctual marketer,” says Scott Kurnit, founder and former chief executive of About.com. “He did great for us, and he’s doing big things with Ford.” He’s also a well-trained family man.Though he’s surrounded by the world’s most gorgeous people every day, Mr. Caplan insists: “I’m in love with my wife. I wouldn’t be here without her.” —elisabeth butler cordova

F6 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business Project5 2/25/08 10:51 AM Page 1

Youcanhireoneofthe40Under40today. 23 years in advance.

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NEW YORK’S RISING STARS PILAR Music maker- GUZMÁN, 37 Editor-in-chief, cum-peacemaker COOKIE MAGAZINE ilar guzmán’s youngest son goes MARK PITTS, 37 to bed at 7:30 p.m., and she’s al- ways there to see him fall asleep. President of urban music, The editor-in-chief of Cookie JIVE RECORDS/ZOMBA LABEL GROUP magazine makes no exceptions Pwhen it comes to putting family first. Be- sides, when you’re the brains behind a hit aking up the notorious b.i.g. after a parenting magazine, time with the family is heavy night of pot smoking was never considered research. Cookie, now in the Condé Nast family, easy. But that didn’t stop Mark Pitts, the was launched in January 2006 by Fairchild late rap legend’s manager, from once Publications, a sister unit of Advance soaking a washcloth in cold water and Publications. Looking for someone to lead a parenting magazine that focused throwing it on Biggie’s face.The enraged on style as much as strollers, Fairchild rapper swung at him, and a wrestling executives tapped Ms. Guzmán, then senior editor at Real Simple, to bring their match ensued. Mr. Pitts, half his size, won when Biggie finally sat up baby to life. andW said,“Man, you just don’t quit!” Now a toddler, Cookie hasn’t had many JOE CHAN, 36 It’s that kind of fearless dedication to the needs of his artists that growing pains. Ad pages soared 45% in 2007, while ad revenue nearly doubled. In President, has elevated the East Flatbush, Brooklyn, native to the top of one of February, the magazine’s circulation rate base DOWNTOWN BROOKLYN the most successful record labels at increased 43% to 500,000. PARTNERSHIP Sony BMG. Mr. Pitts presides Cookie will put out 10 issues in 2008, up over a division that, according to in- from six last year. s a high school wrestler, Joe dustry estimates, has annual sales of more Ms. Guzmán is now busy busting the Chan endured a grueling regi- than $200 million. myth that Cookie is only for young parents. men of diet and dehydration to The classically trained pianist Though the fledgling publication may never stay in his 119-pound class. The coaxes the best out of some of the feature articles on putting the kids through agony paid off with a state biggest names in music, regular- college, she hopes its readers will stay on past Achampionship and a spot on his college ly pulling all-nighters in the stu- preschool. team. dio with the likes of Chris Ms. Guzmán doesn’t let Cookie’s success Mr. Chan is still svelte at 170 pounds but Brown, R Kelly, T-Pain and overwhelm her. After all, the magazine is is a heavyweight in the city economy, running Usher. about maintaining a balance. “There’s its third-largest business district. In just over “His love and passion for something in this culture that suggests a a year, he has shepherded 56 projects totaling music and people give him a woman has to shed all her previous interests 23 million square feet in downtown competitive advantage to succeed,” Brooklyn.Total investment: $9 billion. says Antonio “L.A.” Reid, chief exec- “The ultimate goal is to create economic utive of Island Def Jam Music Group A woman doesn’t opportunity: jobs, affordable housing and a and mentor to Mr. Pitts. permanently strengthened local economy,” But he is best-known have to shed her Mr. Chan says. “That’s why we’re here.” as a peace broker. In Embodying Brooklyn’s diversity, Mr. 2005, Mr. Pitts interests to be a Chan lives in Fort Greene with his wife, brought about who’s of Mexican descent, and their two a truce be- good mom’—Pilar Guzmán daughters. His paternal grandfather, a high- tween rappers ranking official in Chiang Kai-shek’s China, Jay-Z and Nas, fled to the United States when Mao took who had been engaged power. His mother emigrated from Dublin in a bitter rivalry for years. in the 1960s. He had always wanted to put in order to be a good mom,” she says. “We Mr. Chan spent eight years in the Bronx an end to the feud between ‘want‘ to show that isn’t true.” and 10 in Connecticut (“against my will”), Biggie and Tupac Shakur, so Married to Details Publisher Chris returning to the city to earn an urban this opportunity was the Mitchell, Ms. Guzmán has always planning degree at NYU. He taught public next-best thing. embodied that mission, which means school in the South Bronx for three years All this devotion comes at embracing womanhood along with motherhood. before cutting his teeth in economic a price. Mr. Pitts, whose rare “Even as her boss, I always envied her development at Hunts Point and East New chances to sleep are often on style,” says Carrie Tuhy, former Real Simple York nonprofits. red-eye flights, was recently editor-in-chief. “She not only talks the talk He turned heads during a stint at the struck with Bell’s palsy, a condi- but walks the walk.” Brooklyn Chamber of Commerce and was tion that paralyzed the left side —kira bindrim snapped up by the Bloomberg of his face. administration. He saw it as a warning to take Impressed, Deputy better care of himself and is urg- Mayor Daniel Doctoroff ing friends like Kanye West and picked Mr. Chan to Sean Combs to do the same. elevate—literally— “We love this business so Brooklyn’s much, we don’t even realize what underperforming the stress is doing to our bodies,” downtown into a Mr. Pitts says. skyscraper-strewn economic —samantha marshall engine. “In a very unflashy and understated way, he has brought downtown Brooklyn to a higher level than anyone could have expected,” says Joshua Muss, who runs Muss Development. —erik engquist

F8 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business Project5 2/25/08 10:49 AM Page 1

Weiser LLP is pleased to announce that John Barone, David Casten, Howard Cohen, Mark Farber, Remi Forgeas & Steven Kops have been admitted into its partnership.

John Barone, CPA - Partner New York City provides personalized accounting and auditing services to clients in a variety of industries. 135 West 50th Street He specializes in consolidated entities and internal control analysis. Mr. Barone currently New York, NY 10020 serves as President of the Nassau Chapter of the New York State Society of Certified Public Accountants. Tel 212.812.7000 Mr. Barone can be reached at 516.620.8508. Fax 212.375.6888 David Casten, CPA - Principal Long Island brings with him over 30 years of experience, including more than 25 years as a tax 3000 Marcus Avenue partner in a Big Four firm. He has provided tax and related financial accounting services Lake Success, NY 11042 to a diverse client base across a wide variety of industries. In addition, he is an adjunct professor at the Boston University Law School Graduate Tax Program. Tel 516.488.1200 Mr. Casten can be reached at 646.315.6123. Fax 516.488.1238 Howard Cohen, CPA - Partner Westchester provides accounting and audit services, as well as tax services, to private and public 660 White Plains Road companies. He advises clients on financial management issues such as financing, completing acquisitions, and raising capital through public offerings and private placements. In addition, Tarrytown, NY 10591 he has extensive experience in auditing not-for-profit entities, as well as advising and Tel 914.333.0555 consulting with not-for-profit executives. Fax 914.333.0556 Mr. Cohen can be reached at 212.375.6587. Mark Farber, CPA - Partner New Jersey possesses more than 20 years of experience in providing accounting and tax services. He specializes in tax issues surrounding financial services companies including banks, hedge 399 Thornall Street funds, private equity firms, REITs, and foreign inbound investment related to these entities. Edison, NJ 08837 In addition, he has significant experience working with the tax implications and compliance issues of financial institutions in the bankruptcy and restructuring arena having worked on Tel 732.549.2800 some of the largest restructurings. Fax 732.549.2898 Mr. Farber can be reached at 212.375.6559. Remi Forgeas, CPA - Partner www.weiserLLP.com provides audit and transaction services to large international firms, both public and private. As an expert on cross border issues, including differences between US GAAP and International Financial Reporting Standards (“IFRS”), Mr. Forgeas is the lead liaison for the firm's IFRS desk. Mr. Forgeas can be reached at 212.375.6891.

Steven Kops, CPA - Partner provides transaction services specializing in due diligence for mergers and acquisitions on behalf of private equity groups and corporations. In addition, Mr. Kops has extensive experience providing consulting services to the lending community for various types of financing transactions. Weiser LLP Mr. Kops can be reached at 212.375.6852. Certified Public Accountants CNYB 03-03-08 A 28 2/27/2008 4:25 PM Page 1

NEW YORK’S RISING STARS SUSAN MOSS, 38 Partner, CHEMTOB MOSS FORMAN & TALBERT

ogcatcher was not on Susan Moss’ list of ambitions when she earned her law degree. Yet there she was one Saturday night last summer, taking a Dphone call from a hysterical client in the midst of a messy divorce, whose canine pal had been abducted from her yard. “She had already called the police, who did nothing,” Ms. Moss says. “What was I supposed to do? I offered to go out and capture the dog.” She tracked down the estranged husband’s lawyer and negotiated the animal’s safe return by Sunday morning. Ms. Moss has been a name partner in a boutique divorce-law firm since 2002. Splits PHIL SHAWE, involving Hollywood players and hedge 38 funders, and paternity cases ensnaring pro Co-chief executive, athletes are the bread and butter of the firm, TRANSPERFECT which generated revenues of more than $4 million in 2006. TRANSLATIONS The Manhattan native says Wall Street divorces tend to be the most challenging, as hile working at Sears, they often devolve into a game of financial Phil Shawe read all the re- hide-and-seek.That’s when her degree from views on the appliances he Wharton comes in handy.“If there’s a sold, shared his insights missing bank account, I’ll sniff it out,” Ms. with customers and even Moss says. “Nothing makes me happier than toldW them that they could phone finding money.” him at home with any questions. While at the University of Lawyer gets kick No wonder he quickly became the FORTIES Chicago Law School, Ms. top salesman in Sears’ entire Moss catapulted to national Southeast region.The surprise: He FACTS fame when her group project was still in high school at the time. succeeded in nullifying the from double duty “I developed relationships with convictions of two women in people that gave me repeat busi- prison for killing their abusive ness and referrals,” says Mr. Shawe. partners.The group’s use of the ASUNCIÓN C. HOSTIN, 39 He’s used the same technique 32 Battered Woman Syndrome ever since, whether selling houses defense made for landmark Managing director, during summer breaks while he live rulings in Illinois, and Ms. Moss KROLL INC. was in college or, in a big 1993 tri- earned an appearance on the umph, selling a multinational mining in the Oprah Winfrey Show—a hint of giant on fledgling TransPerfect’s her future success. Now, Ms. unny hostin’s life might best be summed up in small ability to translate reams of city Moss is a legal analyst on CNN numbers: two jobs, two young children, five hours of documents for a proposed project Headline News’ Nancy Grace sleep (if she’s lucky.) in Russia. Never mind the fact and Today, as well as on that the work was done in his MSNBC and Fox News. The youngest managing director in the New York graduate-school dorm room. “She’s compassionate,” says City office of security and investigations company Only months before, Mr. 29 Nancy Chemtob, founding Kroll, she spends the first five hours of each day as the Shawe and Liz Elting, a classmate own partner of their law firm, who legal analyst for CNN’s American Morning at NYU’s Stern School of Business observed Ms. Moss for months .She still makes it and a former manager at Berlitz, their before recruiting her. “Sue can to the office by 9 a.m. had created TransPerfect to deliver slowly but surely pull out A star lawyer, with high-profile government and litigation jobs on professional-grade translations on homes information from a witness, to S strict schedules.Today, the firm the point where you can her résumé, Ms. Hostin was recruited from law firm Dickstein boasts revenues of more than actually see opposing counsel Shapiro a year ago to become Kroll’s managing director of business $150 million, 700 employees and offices on cringe in their seats.” four continents. And in a recent Shawe —hilary potkewitz intelligence and investigations. She and tice Department’s antitrust division, who coup,TransPerfect landed her teams of detectives are hired by private recalls that during her time at the DOJ, Gen. Colin Powell as the clients to scour the world in search of every- Ms. Hostin thrived in an office where keynote speaker for its thing from people to corporate intelligence. everyone was working overtime. 15th anniversary event. Her job on television, which came So that she can cope with her jam- How does Mr. Shawe about after a producer saw her speaking at packed days,Ms.Hostin’s life is as careful- do it? It helps that he a conference,fulfills a long-held ambition. ly strung as the multimillion-dollar neck- sleeps little, travels constantly When she was just out of college, she lace she was once hired to find.Married to and is driven to succeed. planned to go into TV news. Her mother, a doctor,she has the welcome assistance of “He does everything one of a line of indomitable Latin matri- two nannies, a housekeeper, a network of with the same degree of archs, steered her toward a more certain friends and her mother, who lives in the competitiveness,” says path to a lucrative life: law school. Hostins’ carriage house. Brooke Christian, Mr. People who know Ms. Hostin aren’t And as for that necklace, it represents Shawe’s University of surprised she ended up reaching both her another small number in Ms.Hostin’s life: Florida roommate and mother’s goals and her own. It’s the one case on her roster that remains senior vice president of “She is a driven person,” says Dando unsolved. TransPerfect. “Phil even Cellini,a senior trial lawyer at the U.S.Jus- —elizabeth macbride plays Trivial Pursuit to win.” —erik ipsen

F10 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business CNYB 03-03-08 A 29 2/27/2008 4:26 PM Page 1

NEW YORK’S RISING STARS

says the Sturbridge, Mass., native. “But stars every day that that guy threw out my KEN DAVENPORT, luckily, the success of the other shows is mail,” Mr. Steib says. starting to get people interested in what I do.” At Google, he heads a new division that —miriam kreinin souccar lets advertisers buy, schedule and deliver TV 35 commercials through an online system. Founder, Before joining Google, he spent six years at DAVENPORT THEATRICAL NBC as part of a group that made more than MICHAEL STEIB, $20 billion of acquisitions, including those of ENTERPRISES Telemundo, Bravo and Universal Studios. He also started NBBC, now known as hulu.com, early 90% of all off-Broad- 31 and co-founded NBC Weather Plus. way shows close within six Director of TV advertising, Jordan Hoffner, who worked with Mr. months. Not when Ken Daven- GOOGLE Steib at NBC and helped bring him to port’s producing. Google, calls him the consummate team Not only is he the only pro- n his senior year at the University player. “He’s extremely analytical but also Nducer with three shows running off-Broad- of Pennsylvania, Michael Steib was willing to listen to other people’s ideas,’’ Mr. way at the same time—The Awesome 80s preparing to take the Law School Hoffner says. “And he’s fun to work with.” Prom, Altar Boyz and My First Time—but Admission Test when a fraternity —robert hordt they have all recouped their investment, brother threw out grossing a total of $30 million worldwide. Ian important notice, Besides creating the innovative shows, thinking it was junk mail. Mr. Davenport handles all the advertising, Mr. Steib missed the marketing and group ticket sales himself in registration deadline. But an effort to cut costs. Instead of expensive ad he turned the blunder buys, he comes up with publicity stunts like into good fortune. He the “Virgins get in free” promotion for the University. For the next 10 years, he worked says he decided to “get opening night of My First Time, which was on numerous shows as company manager, my head out of the picked up by news outlets worldwide. building his experience to become a producer. books” and work for a “Ken doesn’t just think outside the box, he A hardworking, self-described “control while before going to law smashes the box to pieces and rebuilds it bit freak,” Mr. Davenport never gives up. For six school. In the 10 years by bit,” says Robyn Goodman, co-producer years, he tried to get the theatrical rights to since, he has built an im- of Altar Boyz. “He is a real leader in figuring Somewhere in Time, a movie starring pressive résumé in new out how to keep off-Broadway alive.” Christopher Reeve and Jane Seymour, but the media—he holds two digi- A child theater actor, Mr. Davenport authors always turned him down.This year, tal patents—and realized moved behind the scenes when he was they agreed, and Mr. Davenport is developing he didn’t want to be a offered a production assistant job on a it into his first big Broadway musical. lawyer. Broadway show during college at New York “You’re only as good as your next project,” “I thank my lucky

Crain’s New York Business ❘ www.crainsnewyork.com/40under40 ❘ March 3, 2008 F11 CNYB 03-03-08 A 30 2/27/2008 4:28 PM Page 1

NEW YORK’S RISING STARS JAMES Teen rapper GERSTEN, 38 President, takes off CULINARY CONCEPTS BY JEAN-GEORGES

JESSE ITZLER, 39 ob offers come often and easily to James Gersten, whose résumé lists a Co-founder, veritable Who’s Who of the hospital- MARQUIS JET ity industry. After just one lunch meeting, JSmith & Wollensky founder Alan esse itzler makes an unlikely airline executive. As a Stillman hired Mr. Gersten a decade teenage rap artist in the 1980s,he landed two songs on MTV. ago to spearhead the steakhouse’s national After his first 15 minutes of fame,he wrote jingles for radio expansion.Then there was the two-year stint working for celebrity hotelier André Balazs, commercials and the theme song for the New York Knicks— who tapped Mr. Gersten as senior vice presi- the hip-hop ditty “Go New York Go!”It became the Knicks dent in charge of the restaurants and bars at Mr. Balasz’ super-chic hotels. anthem and inspired a multiyear ad campaign. By his early But it is Mr. Gersten’s current job as head 20s,Mr.Itzler was writing anthems for dozens of pro teams. of a joint venture between deep-pocketed He also conceived the NBA’s “I love this game” tagline. investors, Starwood Hotels & Resorts DIONNE MACK- Worldwide and acclaimed chef Jean- J Mr. Itzler soon co-founded a small record label, Alpha- Georges Vongerichten, that has catapulted bet City,with friend Kenny Dichter.They later sold it to an HARVIN, 35 him into the society of the elite and powerful. entertainment giant,and a ride on the corporate plane began the pair’s The Manhattan native certainly looks the Executive director, part transition from jingles to jets , no doubt benefiting from the fashion . BROOKLYN PUBLIC LIBRARY sensibilities of his wife, a former executive “It’s not exactly your traditional path to founding a multimillion- with Ralph Lauren, Armani and Kenneth hen dionne Mack- Cole and the mother of their two children. dollar airline company,” Mr. Itzler says.“But it works; it’s who I am.” Harvin moved to New Messrs. Itzler and Dichter started a paid cards, uses NetJets’ private fleet. York from South Carolina business selling high-end weekend pack- Behind the mop of curly blond hair and with her mother at age 11, If successful, we ages involving their celebrity contacts: blue jeans is a hardworking entrepreneur. she used the city’s libraries great seats for the NBA finals, a “The phone could ring at 11 o’clock at asW an excuse to get out of the house. will be the biggest round of golf with a play- night, and I knew it would be Jesse, bounc- Little did she know that two decades later er and private jet trans- ing around a business idea,” says Ron she would become the first African- high-end restaurant portation. Brienes, who owns a sports marketing American to hold the top job at the Clients kept call- firm and is a former colleague at Al- Brooklyn Public Library—the fifth-largest company’ —James Gersten ing back to book phabet City. “He’s both a creative system in the country—and the first black “just the jet,” Mr. guy and a leader.” woman appointed head of a major public Itzler says, and Mr. Itzler says he is more of library in New York state. Marquis Jet taxied an idea person—and Marquis Now Ms. Mack-Harvin—who started as into existence in Jet turned out to be a big idea. It an entry-level librarian at the Crown Heights Mr. Gersten clinched the deal with the 2001. The compa- had about 2,500 customers and branch 13 years ago—oversees 60 branches, ‘partners‘ over dinner at La Esquina, a highly ny, which sells flight revenues of more than $700 million 1,700 employees, and a $103 million budget. rated Mexican restaurant in Little Italy that time in 25-hour in- last year. “Dionne is this combination of he co-owns, which opened in 2004. crements on pre- —hilary potkewitz commitment and seriousness of purpose, Mr. Gersten is responsible for developing along with a level of confidence and charm,” and operating up to 50 new restaurants in says Marilyn Gelber, president of Independence Community Foundation. “All of that together is what leadership is all about.” In just one year in the top job, Ms. Mack- Harvin snagged an additional $10.3 million in city funds, allowing the library to open its doors 46 hours a week, up from 35, and hire 130 people. She started the system’s first fundraising campaign for individual branches,and a young patrons group for people in their 20s and 30s. Now she’s developing the city’s first “minibranch” library—where customers can Starwood hotels worldwide over the next go to order books from the main branch and five years. pick them up while enjoying amenities like “If we are successful,” says Mr. Gersten of story hour and Wi-Fi access.The first one Culinary Concepts by Jean-Georges, “we will open in Dumbo this summer. will be the biggest high-end restaurant Ms. Mack-Harvin, who lives in Harlem company in the world.” with her husband and 6-year-old son, is just Mr. Vongerichten was impressed with getting started. “We need to adapt so we can Mr. Gersten from the get-go. “On his first continue to be relevant to communities as week, he wanted to jump on planes and see they change,” says the executive, the first in how we open restaurants. He’s very hands-on,” her family to graduate from college. “We says the chef. “One of his best qualities is his need to make people feel that their library understanding of people. He has put branch can be that beacon of hope for them.” together a great team.” —miriam kreinin souccar —lisa fickenscher

F12 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business CNYB 03-03-08 A 31 2/27/2008 4:29 PM Page 1

NEW YORK’S RISING STARS JASON HIRSCHHORN, 36 President, SLING MEDIA ENTERTAINMENT GROUP

hree years ago, the idea of cut- ting up movies like The Godfa- ther into short scenes that could be shared on the Web seemed preposterous. Tom Freston, the Tformer chief executive of Viacom, “looked at me like I was nuts” when I suggested it, recalls Jason Hirschhorn, then chief digital officer of Viacom’s MTV Networks. Times change. Later this year, Mr. Hirschhorn expects to launch a similar service for Sling Media Entertainment Group, manufacturer of the Slingbox, a device that allows consumers to watch MICHELLE television on multiple devices at any time and place. PELUSO, “Jason is a passionate, funny opinion 35 leader,” says Judy McGrath, MTV Chief executive, Networks’ chief executive, who handpicked TRAVELOCITY Mr. Hirschhorn in 2005 to lead the cable operator’s digital businesses. “He was one of ntrepreneurship runs in the first guys to talk about Facebook and Michelle Peluso’s family. Her MySpace.” grandparents owned a motel, Mr. Hirschhorn achieved his dream of and her father ran an environ- working at MTV at age 28 when the mental engineering company. Viacom unit outbid Sony, Warner Music EWhen faced with paying for her own and BMG for his startup, Mischief New expenses as a youngster, she Media, a network of music followed suit. “I could have flipped THEIR OWN WORDS Web sites.The former club burgers for minimum wage,” says promoter helped MTV the Middletown, N.Y., native. launch a number of Instead, she started businesses— broadband sites, such as Hong Kong native her first was a swim instruction MTV Overdrive. He left for class, which earned her $30 an Sling Media in 2006. hour.Today, she still credits her Last October, Mr. employee- and customer-centric Hirschhorn played a major builds in New York management style to her father. role in Sling Media’s sale After forming a nonprofit at the to satellite provider Echostar age of 15 and dabbling in politics in Go to www.crains Communications for MAGGIE KWAN, her mid-20s, she returned to her $380 million. Revenue at 39 business roots during the height of newyork.com/ Sling Media rose 77% in the Director, structural systems, the Internet bubble and in 1999 co- 40under40 to see first six months of 2007 to founded Site59, a Web site that candid video $14.7 million, compared TISHMAN CONSTRUCTION CORP. OF NEW YORK offers last-minute travel packages. interviews with with the same period a year “I really wanted to become a great earlier. aggie kwan considered becoming a doctor businesswoman,” says the former this year’s rising The television junkie White House fellow and senior stars. learned about the company or dentist until her parents squelched the idea, adviser to Labor Secretary Alexis when his brother-in-law fearing that a successful career would intimidate Herman during the Clinton bought him a Slingbox. administration. “For the first time, someone bought a potential husbands. Travelocity bought the site for $43 gadget for me before I knew about it,” says “They wanted me to be a traditional girl,” million in 2002, and Ms. Peluso became Mr. Hirschhorn, a proud owner of several says the slim,talkative native of Hong Kong, Travelocity’s chief operating officer. A year iPod models and other gadgets that he uses later, she was promoted to lead the money- to watch endless hours of The Office and who immigrated to Albany with her family losing company, which she quickly lifted out other favorite shows. when she was 11 years old. of the red, doubling revenue to about —amanda fung Instead,Ms.Kwan is single and unconventional.Not only has she ex- $1.1 billion in 2004. She M also helped expand celled in the construction industry, a field still largely dominated by Travelocity overseas by men,she has done it on some of the city’s highest-profile construction acquiring London-based lastminute.com and assignments,including the 7 World Trade formance, says her boss, Tishman Senior Singapore-based Zuji. Center and the The Plaza Hotel. Vice President Allan Paull. Despite her hectic Such hallmark projects boosted Tish- “She finds out what makes people tick. schedule, she answers man’s revenue last year to $2.75 billion She puts people at ease,” he says. He adds every employee e-mail from $2.5 billion in 2006. that she is also incredibly resourceful. For she receives within 24 A self-described “translator,” Ms. example, he says, one of Ms. Kwan’s pred- hours. “Michelle has the Kwan says she is the link between the de- ecessors failed for months to secure a powerful ability to veloper and those working on the project. transformer needed for a job. Ms. Kwan motivate and inspire Her responsibilities include purchasing, found one in less than two weeks. everyone,” says Tracy quality control,scheduling and budgeting. The bubbly executive has even put her Weber,Travelocity’s chief Ms. Kwan has far better social skills parents’ qualms to rest:“They won’t say it, operating officer, who than a typical engineer, an asset that defi- but I can tell they’re proud,” she says. also worked for Ms. nitely contributes to her outstanding per- —theresa agovino Peluso at Site59. —amanda fung

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NEW YORK’S RISING STARS

who has been promoted twice by the Jets, KATHRYN now works to increase the team’s visibility and build fan loyalty, supervising 30 people CARTER, for the $193 million-a-year organization. 38 Mr. Higgins faced his biggest challenge Executive vice president, last year, when he beat testicular cancer. SOCCER UNITED MARKETING “Other than wanting more time with my family,” he says, “I discovered I had no great sked to describe her sales regret about how I had lived.” technique, Kathy Carter jokes —anne michaud that most of her early clients bought sponsorship deals so she would stop calling them. AMs. Carter, executive vice president of CARLEY RONEY, Soccer United Marketing, doesn’t take her- self too seriously.“But don’t let her fool you,” says Scott Guglielmino, a vice president at 39 ESPN. “She always has her eye on the ball.” Editor-in-chief, As an evangelist for the budding sport of THE KNOT INC. soccer, Ms. Carter has scored plenty of goals. Through an arm of Major League Soccer, ome may call it ironic that self- she and her staff of 25 sell sponsorships for dubbed “alternabride” Carley Roney, U.S. and Mexican teams, as well as who wore a vintage minidress to her tournaments and soccer federations. Her own wedding and booked the venue sales prowess with companies from PepsiCo at the eleventh hour, runs online MARK MASON, to Visa is in part responsible for the sport’s MATTHEW Swedding-planning sensation The Knot. growing success in the United States. Ms. Roney calls it perfect. In 1996, three “Soccer is spoken more than English,” HIGGINS, years after her nuptials—when the dot-com 38 Ms. Carter says. “It’s the easiest way to 33 industry was barely a blip on anyone’s Chief financial officer, communicate in the world.” Senior vice president radar—she and husband David Liu CITIGROUP GLOBAL WEALTH The high school all-American helped of business operations, launched The Knot. write Major League Soccer’s business plan in They knew from experience that wedding MANAGEMENT 1993-94. Except for a brief stint in tennis, she NEW YORK JETS magazines ignored couples who wanted to has worked in the sport for her entire career. host a stylish yet affordable affair, and that ark mason’s first promotion Major League Soccer’s revenues, hen matthew higgins the industry was in need of a serious upgrade. came when his grandfather, reportedly less than $200 million, are tiny graduated from high “We made a wedding resource to expose the who owned a landscaping compared with the billions brought in by school, he didn’t have the reality that is weddings,” says Ms. Roney. business, let him mow front other major-league American sports. But luxury of attending college “Most people are spending their own money, lawns after initially assigning Ms. Carter says her group’s sales have grown by full-time. He went to they don’t have perfect families and their Mhim weed-digging duty in backyards. Mr. 20% to 30% annually since she took her current QueensW College at night while working to marriages are combining different cultures.” Mason promptly screwed up, help support his ailing mother. The Knot, which began with 10 message missing a swath of grass on one She died on the day that 26-year-old boards allowing members to exchange infor- job and making it look as if he Mr. Higgins was named press secretary mation, has grown into a $98.7 million firm had given the lawn a Mohawk. for Mayor Rudy Giuliani, making it the with 200 message boards, two national mag- “My grandfather yelled, ‘That’s best and the worst day of his life. azines, 18 regional magazines and a staff of the family name on the truck. If “When she died, it was a tremen- 500. Ms. Roney has written 11 books, and she you mess up, it reflects on all of dous sense of defeat for me,” he says. “I appears regularly as an advice consultant on us,’” Mr. Mason recalls. “That’s could have responded to the situation television and on The Knot’s live TV channel. where I got my work ethic. Every in a number of ways and spent the rest “She’s one of those rare individuals who job I’ve had since, I still think of my life blaming her. But my philos- can run a business and a brand,” says Heidi about my name being on the truck.” ophy is to allow myself no excuses.” Messer, co-founder of online marketing net- The Jamaica, Queens, native, His early trials enabled Mr. Higgins work LinkShare and a fellow Web pioneer. who was raised by his mother in a to shoulder responsibility and put daily To keep growing,The Knot made room single-parent household, has a concerns in perspective, giving him a last year for TheNestBaby.com, which in turn knack for business. In high school, confident, cheerful manner. was a spinoff of TheNest.com, its site for for example, he sold candy from a “People really like being around newlyweds. Each new business markets to black Samsonite briefcase he Matt,” says his current boss, Jets owner the next life phase of the generation that The carried every day. Woody Johnson.“You shouldn’t Knot originally targeted a dozen years ago. The Howard University underestimate the importance of that.” “It was a huge challenge to build the wed- graduate spent a few years in investment post in 2003. When the league made an Mr. Higgins earned a law degree from ding part of the business,” Ms. Roney says. banking and management consulting before ambitious commitment to sell $60 million Fordham at night while working for Mr. “But the hard part was moving beyond that.” Citigroup hired him in 2001 to develop ways worth of advertising for the FIFA 2006 World Giuliani, and handled press relations fol- —adrianne pasquarelli to market private equity investments. lowing the Sept. 11 terror- His work attracted the attention of ist attacks. He went on to Charles Prince, who appointed Mr. Mason help lead the Lower Man- his chief of staff when he became Citi’s chief Soccer is the hattan Development Corp. executive in 2003. Mr. Mason was reluctant He was the Jets’ main to be pegged an administrator, but the chance world’s easiest way spokesman by the time to work at the highest levels was too good to the team tried (and failed) pass up. He moved into his current position to communicate’ to build a football stadium three years later. His unit thrived last year—a —Kathryn Carter on the West Side. Mr. difficult time for Citi—posting record net Higgins then worked on income of $2 billion, 37% more than in 2006. the complex joint venture Division CEO Sallie Krawcheck says that between the Jets and the Mr. Mason’s stamina stands out even in the New York Giants to build warrens of Wall Street, where punishing Cup, she pulled out all the stops to get it done. a shared stadium at the hours are the rule. “At first, I thought a CFO ‘‘“We’ve professionalized the sport,” she Meadowlands, helping job was a stretch for him, but it wasn’t,” she says. “We’ve been working really, really hard shepherd needed says. “No one outworks Mark.” to do that.” legislation through —aaron elstein —elizabeth macbride Trenton.The executive,

FORTIES FACTS 21 have postgraduate degrees 3 didn’t graduate from college

F14 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business CNYB 03-03-08 A 33 2/27/2008 5:03 PM Page 1

RISING STARS Dreaming up a public park ROBERT HAMMOND, 38 Executive director, FRIENDS OF THE HIGH LINE hen robert hammond was in eighth grade, he became fascinated with communist Russia.So his parents packed him off in the summer of 1987— before his senior year in high school—to live by himself in Leningrad, now St. Petersburg.W “They always encouraged my interests,” says Mr. Hammond, a Texas native.

He went on to study history says City Planning Commis- at Princeton and then moved to sioner Amanda Burden, an early 49 west 32nd street (212) 277-2647 the West Village, where he pur- supporter. Mr. Hammond has new york, ny 10001 www.radisson.com/martinique sued his love of painting and fought a thousand battles along helped entrepreneurial startups the way,she adds,and is intimate- raise money and build Web sites. ly involved in the design details. In 1999, Mr. Hammond A high point of the journey heard that the city was planning for Mr. Hammond was a visit to to tear down an abandoned ele- the project by Robert Caro,author of vated railroad track in his neigh- the Robert Moses biography borhood, and he attended a The Power Broker. community board meeting to “He said Moses would have protest. He struck up a conver- hated this project because it’s sation with the man sitting next bottom-up,” Mr. Hammond re- to him, Joshua David, and the calls. “It started with a small two soon founded Friends of the group of people rather than a High Line, meant to save the master plan.” historic structure. —anne michaud They raised more than $130 100% Network Diversity (really) million and held an internation- al design competition seeking ways to reuse the line, which Is Fiber still your only path? drew 700 entries. The High Line is scheduled to open as a Add BOB’s Wireless Network for true diversity. public park in September. “Robert galvanized the public’s imagination about a project you can’t see— that’s the ex- traordinary thing he did,”

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Crain’s New York Business ❘ www.crainsnewyork.com/40under40 ❘ March 3, 2008 F15 CNYB 03-03-08 A 34 2/27/2008 4:49 PM Page 1

NEW YORK’S RISING STARS

them exactly how things happened.” Her approach works with her boss, too. MIKAEL “Nancy’s full of new ideas and she’s highly competitive,” says A&E Networks Chief JOHNSON, Executive Abbe Raven. “And she’s able to 38 translate any topic into great programming.” Global chair —matthew flamm of alternative investments, MICHAEL KPMG istening while his London colleagues discussed their fa- AIELLO, 37 vorite soccer teams at dinner, Partner, mergers and Mikael Johnson felt lost. So be- acquisitions, fore the next visit, he made sure Lto bone up on the English Premier League WEIL GOTSHAL & MANGES and pick a team to follow. “I wanted to find some way to connect, any businesspeople consid- and in Europe, the conversation almost er lawyers obstacles to great always gravitates toward soccer,” says Mr. ideas.The phrase “can we get Johnson, whose job sends him to Western it past legal?” makes Michael Europe, Bermuda, the Cayman Islands, Aiello cringe. South Africa, South America and Asia. M“Bankers think of us as people who slow The South Florida native, who rarely them down,” he says. traveled outside North America before Mr. Aiello is determined to change that joining KPMG in 2000, has a knack for NANCY DUBUC, mentality one deal at a time. Last year, he SARA QUEEN, relating to people wherever he goes. Before served as lead counsel on the $48.5 billion 39 each trip, he researches who he will be 38 buyout of Bell Canada by an investor group— Senior asset manager, meeting with so that he can foster a the largest private equity transaction in history— BROOKFIELD PROPERTIES collaborative spirit. “He earns respect almost General manager, and represented investment banks in a $27.5 the moment he opens his mouth,” says THE HISTORY CHANNEL billion acquisition of Alltel Corp. CORP. David Seymour, Mr. Johnson’s boss. He likes working under tight deadlines. Of course, his reputation isn’t based orn in the Fordham University “I’m a problem-solver,” he says. “I want to ara queen once envisioned her- just on an ability to make small talk. His dorms to two soon-to-be-mar- figure out a solution, not just point out the self the next Diane Sawyer. But division has grown 20% to 40% annually since ried students, Nancy Dubuc grew risks and the reasons not to [do a deal].” writing too many articles about cats Mr. Johnson took over, and business up along with her parents—and The can-do approach endears him to stuck in trees as an intern at her lo- almost doubled in 2007, according to thus absorbed the lessons that clients like G. Wesley Woorheis, CEO of cal Florida newspaper nixed KPMG. Bwould ensure success in the seat-of-the- embattled Hollinger Inc. Mr. Aiello advised Sthat ambition just as she was develop- The executive, whose pants world of cable television: how to im- Mr. Woorheis on the company’s investment ing a sharp interest in economics. TRUE many hats include that of provise and adapt. A training program sparked a career CONFESSIONS audit partner, has made it “They couldn’t afford in real estate that now has the mother his responsibility to know babysitters,” she recalls. “I of two in charge of more than half of everything about private had to go with the flow.” Brookfield’s nearly 52 million square feet equity and hedge funds By the time she was 8, of U.S. office space, which has a value and to become the go-to she knew how to fix dinner. of over $13 billion. In addition to guy for the global practice. When she got her driver’s working on strategies for the buildings “Being in New York, the license, she began helping that are her primary responsibility, Ms. epicenter of the industry, with grocery shopping. So, Queen is also actively involved with the WHO DELIVERED it’s our responsibility to after starting in television rest of Brookfield’s properties, 15 babies? Who got lead in other places,” Mr. the day after college including the company’s major kicked out of high Johnson says. graduation, she found development projects. school? Page F22 But he’s quick to point herself at home with the Ms. Queen, a Harvard M.B.A., says out that he sees himself as “managed chaos” of the job intrigued her when she joined part of a whole. An avid newsrooms and the company in December 2006 because hockey fan and a player on the KPMG squad, documentary shoots. A Brookfield, one of the city’s largest landlords, he sees a parallel between his job and favorite series of jobs led her to had just acquired the portfolio she manages. form of recreation. A&E, a cable network she There was no road map of what to do. “It combines aggressiveness, dexterity, helped reinvent with shows “That made it a real challenge,” says Ms. skill and speed with the fact that you’re a like Growing Up Gotti and Queen, who is half Cherokee Indian and member of a team,” he says. Dog the Bounty Hunter. in the Sun-Times Media Group after Lord spent summers on the reservation where her —samantha marshall “We were open to risk,” she says of her Conrad Black’s departure. mother grew up. four years as head of development. “I’m in a huge minefield at Hollinger, and Ms. Queen has Ms. Dubuc’s gift for gut instinct decision- he won my confidence completely,” Mr. managed the position making has served her well at sister network Woorheis says. with aplomb, says Dennis The History Channel, which she took over in The son of a master carpenter from Italy Friedrich, president of January 2007. During her first week, she and a secretary from Brooklyn, Mr. Aiello Brookfield’s U.S. green-lighted Ice Road Truckers.The docu- became the first in his family to go to college commercial operations. mentary-style reality show drew 3.1 million when he enrolled in New York University. “She is the glue that holds viewers that July to become the channel’s Later, he graduated first in his class at it together,” he says. highest-rated series ever—and one of several Widener University Law School in Ms. Queen’s real new programs, including The Universe, that Wilmington, Del. He worked as an estate expertise extends drove the network to record ratings. Ad emergency medical technician to put himself beyond her professional revenue rose 4% last year to $350 million, through school. Mr. Aiello would pull a life. The NASA buff according to estimates from SNL Kagan. night shift in the ambulance, go home to with a penchant for “We want to broaden the scope of how sleep for a few hours, then head to class. barbecue is on the people see history,” she says, describing her He hasn’t lost a bit of that intensity.“If building and grounds populist programming approach. “The you’re going to do this job, you’ve got to be at committee of her audience today is not as willing to sit back in the top of your game,” he says. children’s school. an armchair and listen to somebody tell —hilary potkewitz —theresa agovino

FORTIES FACTS 17 have their own Web sites 7 have played in a band

F16 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business CNYB 03-03-08 A 35 2/27/2008 4:50 PM Page 1

RISING STARS Global citizen finds a home MARYAM BANIKARIM, 38 Chief marketing officer, UNIVISION COMMUNICATIONS INC.

or as long as she can remember, Maryam Banikarim has been in mo- tion—fleeing Iran for Paris with her family after the Islamic Revolution in 1979, and living in the Bay Area and Southern California before settling in New York by way of Buenos Aires. The experience of adapting to different cultures was Fpart of what prepared her to become the first market- ing chief at Hispanic media giant Univision Commu- nications. “Being a good marketer takes vision’s TV, radio, music and In- curiosity, empathy and the will- ternet divisions, overseeing all ingness to take risks,” says Ms. marketing and public relations Banikarim, who also speaks for the $2.2 billion company. CH-73 Crains BW.indd 1 2/25/08 2:27:22 PM French, Spanish and Farsi.“Moving “She has a ton of smart, fo- a lot—making new friends, be- cused energy,” says Univision ing in new situations, being Chief Operating Officer Ray thrown into risk—you had to Rodriguez. “And she puts all the have those things.” pieces together.” Her work life has been a jour- —matthew flamm ney,too.She was a business book publisher, handbag designer and consulting company founder be- fore she was hired as Univision’s senior vice president of strategic marketing in 2002. The group’s efforts resulted in sales growth of $33 million in her first year and $75 million in her second, as compa- Hilton New York nies like Target and Nike be- gan advertising with the March 17-20 broadcaster. “We sell to [media buy- the of , ers] who aren’t Hispanic intersection search and don’t consume our & product,” she says of Univi- marketing commerce sion’s marketing challenges. “I have to find ways to bring Featured Speakers include: what we do to life.” ß Ms. Banikarim, who has Exclusive Offer Jason Calacanis, Founder & CEO, held her current job since Mahalo.com, Inc. 2005, coordinates the ß Nick Carr, author of The Big Switch branding efforts of Uni- Save 10% off the ß Gordon McLeod, President, registration fee when you The Wall Street Journal Digital Network use discount code 10NY ß Andrew Tomkins, Chief Scientist, Yahoo! Research

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Crain’s New York Business ❘ www.crainsnewyork.com/40under40 ❘ March 3, 2008 F17 CNYB 03-03-08 A 36 2/27/2008 4:51 PM Page 1

NEW YORK’S RISING STARS EVGENY Doing a 360 NUDLER, 37 Professor of biochemistry, out of the projects NYU SCHOOL OF MEDICINE hen the soviet union CHRIS LIGHTY, collapsed, Evgeny Nudler’s 36 world went down with it. Founder and chief executive, “All my childhood ex- periences, all my good VIOLATOR MANAGEMENT/BRAND ASSET GROUP memoriesW at the time were in Moscow,” says Mr. Nudler, a soft-spoken man with a quick s the eldest of six kidswith a single mother who smile, whose modest manner belies his sta- tus as a superstar researcher. worked several jobs to survive in the Bronx River But things took a turn for the better Projects, Chris Lighty was a caretaker at a young when he got a chance to come to New York age. That responsibility made him determined to University as a graduate student. Arriving with $100 in his pocket and joined a year move up quickly. later by the woman who became his wife, “When you’re growing up in the Reagan era,you researcher Ekaterina Nudler, he soon made his mark. really learn the value of a food stamp—and you By age 26, he had become the youngest full never want to go back there,” the music industry pioneer says. professor in the university’s history. His exit strategy from “crack city” was the music business.Though SHOSHANNA “I first noticed him because he was getting A all these grants,” says Dr. Vivian Lee, NYU’s offered a scholarship to go to college,he had to earn money to help his LONSTEIN dean for science. “But the thing that’s family. Mr. Lighty took a job as an electrician and in his spare time remarkable is that he brings a novel approach GRUSS, to every research project. He is brilliant.” carried crates of records for top hip-hop stable of artists into individual branding 32 At the age of 37, with a staff of 15, he is DJ Red Alert. empires, each worth more than $200 million, President, supervising five major projects that could lead In 1988, that gig landed him a post at carving deals that include video games to new drugs for cancer, better vaccines and Russell Simmons and Lyor Cohen’s Rush and fragrance, beverage and clothing SHOSHANNA ways to stave off natural aging. One project Management, where his education really lines. n the fourth floor at 231 involves “heat shock proteins,” molecules that began. Everything he learned about mar- The recent formation of Brand Asset W. 39th St.—past PT Jeans, protect the cell. He hopes to learn to keting ingenuity and brand-building Group, a joint venture with Warner Mu- B&T Printing and the freight manipulate these molecules to treat cancer. came from those early hip-hop leaders, sic Group,will enable that company to ap- elevators—is a minor miracle: a That’s the fun part. He also logs long who began at a time when the idea of rap- ply Mr. Lighty’s branding and deal-mak- successful garment manufac- hours writing grant applications to keep the pers endorsing products like Chap- ing formula to new acts. What Oturer run by a woman who never took a money flowing. “I hate that part, but it is Stick was a distant dream. has become known as the course in business or fashion or showed any necessary,” says Mr. Nudler. The entrepreneur turned 360 deal is being emulated inclination to run her own firm until after One way he shakes off the tedium of that dream into a reality across the industry,but it’s she graduated from college. with Violator, which unlikely that most label At that point, she brought to the party a represents such high- executives will have the boatload of connections, a lot of energy, an I hate writing profile artists as LL same success with the avowed hatred of losing and a dollop of fast- Cool J, 50 Cent, strategy that its origina- fading fame. Before there was Shoshanna grant applications, Missy Elliott and tor has. Lonstein Gruss, fashion maven, there was Sean Combs. “Chris isn’t just about Shoshanna, wealthy teenage girlfriend of come- Mr. Lighty making deals—he’s about dian Jerry Seinfeld. Her celebrity drew at- but it is has built his making deals work,” says tention to her very first dress line and helped —Evgeny Nudler Mr.Cohen,now chief exec- land a $30,000 order from Bloomingdale’s. necessary’ utive of U.S. recorded music That was 1998. Since then, sales at at WMG. Shoshanna have rocketed to $12 million. Ms. —samantha marshall Gruss’ big break came in 2001, when she introduced her swimsuit collection. Within hours spent in front of his computer is his months, sales were running 10 times higher ‘pursuit‘ of Asian culture. Mr. Nudler, who than those for her dress line. She credits some lives with his wife and 5-year-old son in of that success to the fact that she doesn’t Greenwich Village, regularly visits have a traditional fashion background, Chinatown, playing Ping-Pong with freeing her to do things differently. Olympic athletes. He also studies martial arts “Most people were offering four sizes of with a Japanese master. swimsuits,” Ms. Gruss points out. “We offer Recently he was offered a prestigious job 12, and we sell tops and bottoms separately.” at Oxford University, but he turned it down. The firm has since started designing “I’d be bored in the English countryside,” he uniforms for tony resorts, and it’s moving says, “I belong in New York City.” into co-branding. —gale scott Ms. Gruss complains that most designers ignore the needs of small, buxom women like herself. She has made her name by working to fill the market gap—backed by a lifetime of observing her serial-en- trepreneur father, as well as stints at a West L.A. dress boutique while she was at UCLA and, later, at a Manhattan lingerie maker. “She is a driven, focused and very hard-working in- dividual,” says Anne Keat- ing, a senior vice president at Bloomingdale’s. —erik ipsen

F18 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business CNYB 03-03-08 A 37 2/27/2008 5:00 PM Page 1

NEW YORK’S RISING STARS

the $35 kit this year are projected at $2 JANE WHEELER, MAURIZIO million. Because the demands of the business add 39 MIGLIETTA, to a hospital workday that often goes until 2 38 a.m., Dr. Miglietta’s free time is precious and Senior managing director, Director, trauma surgery, reserved for his wife, Courtney, who is a EVERCORE PARTNERS NY-PRESBYTERIAN/COLUMBIA lawyer, and their children. Colleague Dr. Spiros Frangos has never ane wheeler was frankly appalled in r. maurizio miglietta be- seen Dr. Miglietta’s energy flag. “He’s always the mid-1990s when Morgan Stanley lieves things happen for a rea- calm,” Dr. Frangos says. “His BlackBerry assigned her to the team that advised son. He says that explains why goes off five times a minute—he’s got an stodgy banks. For an ambitious young he survived a jetliner crash at unbelievable talent for multitasking.” dealmaker with an art history back- one, being run over by a car at —gale scott Jground and a taste for 18th-century Deight, and, at 10, escaping unhurt when a gas Venetian sculpture, banks seemed stove exploded, badly burning another boy. prosaic. “I was destined for a career in “My reaction was: ‘Can you believe they emergencies,” says Dr. Miglietta, a tall, would make me do this? This is unacceptable! handsome father of three who last year was I won’t waste my time with it,’ ” she says. named chief of acute care surgery and director But the native New Yorker found the of trauma and emergency surgery at New poetry in financial services. By identifying York-Presbyterian Hospital/Columbia such trends as online brokerage and the University Medical Center. modernization of stock exchanges long He calls himself a fatalist but says that “at before the rest of the pack, Ms. Wheeler has the same time, I like to empower and educate become one of the most sought-after The leader had to struggle to get her people to help themselves in times of bankers in the sector. career off the ground, though. Few banking emergencies.” Among the deals she advised Evercore houses were hiring during the recession of That attitude is evident in a successful new Partners clients on last year were the the early 1990s, and Ms. Wheeler venture that he tends when he’s not caring for International Securities Exchange’s $2.8 accumulated a pile of polite postgraduation patients. He invented Tac-Pack, a pocket- billion sale to Deutsche Börse and rejection slips. sized kit of emergency supplies, including IntercontinentalExchange’s $1.8 billion She decided to try her luck abroad. heavy-duty bandages for gunshot wounds. purchase of the New York Board of Trade. Showing up at the doorstep of a small Dr. Miglietta saw law enforcement “She brings good ideas to the table and London firm, JO Hambro Magan, she personnel’s need for such a product through gets deeply involved in making them happen,” persuaded its executives to give her a job by his work with the NYC Mobile Trauma says Glenn Hutchins, co-chief executive of agreeing to a salary of about $15,000—less Unit, a doctor volunteer group he founded in private equity firm Silver Lake. “She’s a than the janitor or butler. 2004 that gives medical support to the Secret leading person on Wall Street for her space.” —aaron elstein Service and others agencies. Global sales of

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NEW YORK’S RISING STARS MICHAEL Scion creates her MACDOUGALL, own sweet spot 37 Partner, DYLAN LAUREN, 33 TPG o one likes paying the Chief executive, monthly electric bill, but Texas residents were fed up after util- DYLAN’S CANDY BAR ity TXU Corp. boosted rates seven times in five years. ylan lauren’s appearanceon the Oprah Win- NSo when Michael MacDougall and his frey Show in January wasn’t her first big break team at private equity firm TPG acquired but rather a reflection of how far she has come. TXU last year in the largest leveraged buyout to date, their first move was one that few Wall Her six-year-old sweetshop business is so suc- Street dealmakers would dare contemplate: cessful that retail giant Target expressed interest They cut rates.They also agreed to build only three new coal-burning power plants in forming a partnership. instead of the 11 that TXU had planned, to Ms. Lauren declined, heeding the advice of consider cleaner technologies and to increase her famous father, Ralph Lauren. “He always encouraged me to fol- spending on energy-saving initiatives. low my gut,” she says. Those concessions mean that it could D IAN LAIRD, take longer for Mr. MacDougall and his But sometimes her instincts differ from her dad’s.An early investor 36 partners to make money on the $45 billion in the business, the fashion magnate recommended a nostalgic look Director of strategic acquisition. But he figures that any short- initiatives, term sacrifice will pay off later. for the store. Instead, Ms. Lauren went Leadership comes easily to Ms. Lau- “Our goal is to build a company that with brash colors and modern decor. ren, who was class president at her Man- EMPIRE BLUE CROSS provides reliable, affordable, environmentally Sometimes, daughter knows best. Dy- hattan alma mater,the Dalton School,and BLUE SHIELD friendly power,” he says. “We think that’s the lan’s Candy Bar now boasts outposts in captain of its volleyball and tennis teams. best way to win back customers.” East Hampton and Roosevelt Field, L.I.; “People gravitated toward her because ith his nice-guy Perhaps more than most leveraged- Houston; and Orlando, Fla. After its ren- she has a magnetic personality,” says Dalton demeanor, Ian Laird has buyout kings, Mr. MacDougall can relate to ovation, the flagship location on chum Nicole Levinson. what could be called a average consumers. He sold real estate while Third Avenue and East Ms. Lauren majored in art history at predictable trait: “I’m an attending the University of Texas; after 60th Street will be the Duke University.While studying abroad, optimist who always graduation, he world’s largest candy she cultivated her love of candy, col- believesW in the best-case scenario,” he marketed Bounty store. lecting goodies in European cities says. “To see the downside takes an act FORTIES paper towels at This year, the and villages like an archeologist of discipline.” Procter & Gamble company is on digging for artifacts. That rose-colored lens has been an FACTS before heading to track to gen- “Everyone in my family enormous asset to the state’s largest Wall Street. erate rev- is involved in the arts,” insurer. Last year, Empire wanted to People who enues of Ms. Lauren says. “But address the issue of the uninsured by have worked with $20 mil- we all share this mar- making health coverage more affordable Mr. MacDougall, lion. keting sensibility.” for New York’s small businesses. But the 4 now a leading —lisa company’s time line for the product was a have LBO dealmaker, fickenscher sizzling 90 days from concept to market. say he still has the Mr. Laird’s natural positive outlook tattoos; common touch. paved the way to success. Jim Marston, “Everyone else said, ‘You can’t regional director possibly do this in that frame of time,’ ” for the Texas office says Empire President Mark Wagar. of Environmental “Ian’s response was, ‘Let me think about Defense, a it.’That, to me, was the watershed 6 nonprofit that moment of his being a young leader.” are negotiated opposite The Prism plans were launched in Mr. MacDougall in January, and Mr. Laird now supervises a vegetarians the TXU deal, says: commercial product line that generates “You would think a annual revenues of about $2 billion. guy like him would Health care wasn’t a calling for Mr. Laird. be fighting for every advantage. But he saw He ended up at Oxford Health Plans in the business case for reducing greenhouse 1992 simply because it met his chief gases. Not only that, he cares about living up criterion: It wasn’t in St. Louis. Not that he to the promises his group made. He wasn’t has bad memories of his hometown, where what I expected at all.” the perfect family vacation meant piling into —aaron elstein a Volkswagen Squareback with 250,000 miles on it for some fishing with his grandfather. At Oxford, he witnessed a transformation in health care. It was the dawn of managed services, and insurers had to persuade people to use limited provider networks. The industry is changing again, Mr. Laird says, but now the challenge is to provide the right balance between coverage and affordability. —barbara benson

F20 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business CNYB 03-03-08 A 39 2/28/2008 1:13 PM Page 1

NEW YORK’S RISING STARS

store in Cannes to buy a stuffed bear for his CELINE EVGENY son, Dylan, 3.) Mr. Freidman’s drive owes much to his RATTRAY, 32 FREIDMAN, humble beginnings. “The problem with 37 being an immigrant,” he says, “is you wake Partner, Chief executive, up every morning in a panic that you’re going PLUM PICTURES TAXI CLUB MANAGEMENT INC. to lose everything.” Rival fleet owner Ron Sherman says: eline rattray has always been n his senior year at Skidmore Col- “Our industry represents the American stubborn. At 15, she rented a lege, Gene Freidman intervened when dream. You can work hard and with little room with another family rather two female students were being ha- money down, buy a medallion. What Gene’s than move from London to rassed at a bar. He took a beer bottle done is take that to another level.” Bermuda, where her father had a to the face. Surgeons used 400 stitches —erik engquist Cnew position.“My parents thought it was the Iand barely saved his left eye. worst trait when I was a child,” Ms. Rattray Hospitalized for a month, the carefree, says. “They laughed when I found the one skirt-chasing kid from Queens emerged job where being stubborn is a good quality.” serious and driven. “It was time to grow up,” With Plum Pictures, she applies her he says. He went to law school and returned tenacity to the indie film industry. Despite to his native Russia to work in venture daunting odds, Ms. Rattray worked tirelessly capital for billionaire Sam Zell. “I learned to snag a spot for Plum’s first feature, Lonesome how money is made,” he says. Jim, at 2005’s Sundance Film Festival. Apparently so. Back in New York, he The five-year-old firm has sent six more transformed the modest taxi business begun films to Sundance—including Grace Is Gone, by his father, a thermonuclear engineer who starring John Cusack.The movie sold for Co.’s media and entertainment practice and had emigrated in 1976 with his wife and $4 million last year—twice its budget—and as a founding director of HBO on Demand. 5-year-old Gene to escape Soviet anti- earned two Golden Globe nominations, Even though her first on-set job involved Semitism. Starting with 60 yellow cabs, Mr. though box-office sales disappointed. Not cleaning up after actor Chris Penn, Ms. Freidman now has more than 800—the city’s slowing down, Plum is now developing a Rattray fell in love with filmmaking.The second-largest fleet. Revenues have exploded Theodore Roosevelt biopic starring Leonardo executive works 12-hour days so that she can to $120 million, from $2.5 million in 1996. DiCaprio and directed by Martin Scorsese and be available on both New York and L.A. time. Mr. Freidman took risks, snapping up negotiating the sale of two movies shown at “I have never met anyone who works hybrid and wheelchair-accessible cabs that Sundance 2008. harder, cares more or fights harder,” says Galt others shunned. He’s expanded his holdings Ms. Rattray studied philosophy and Niederhoffer, who founded Plum Pictures to real estate, buying 16 buildings across the mathematics at Oxford University, intending with Ms. Rattray and Daniela Taplin Lund- city in recent years, and is bringing French to pursue a career in finance. She honed her berg, when all were under 30. “She is a force.” clothing brand Arthur to Madison Avenue. business skills as a consultant in McKinsey & —robert hadad-zlokower (The venture sprang from a chance visit to a

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Crain’s New York Business ❘ www.crainsnewyork.com/40under40 ❘ March 3, 2008 F21 CNYB 03-03-08 A 40 2/27/2008 6:03 PM Page 1

NEW YORK’S RISING STARS True Confessions HONOREES SHARE HIDDEN TALENTS, LEISURE PASSIONS AND SILLY SECRETS

KATHRYN CARTER KHAJAK KELEDJIAN SHOSHANNA LONSTEIN SARA QUEEN,a rode a bought a 50-foot sailboat, even GRUSS beat up an Florida native, though he didn’t know opponent during a Harley- how to sail has attended 32 Davidson high school Space Shuttle through basketball launches MAGGIE KWAN game Montana’s was willed a red BMW Glacier motorcycle by one of her high National Park school teachers

NANCY DUBUC, a Scrabble player, knows every MARK MASON two-letter word in the dictionary has a shoe obsession; he owns at least 30 pairs, mostly Ferragamo CHARISSA FERNANDEZ and Bruno Magli jumped from JASON a 40-foot cliff CARLEY RONEY’S HIRSCHHORN into the Caribbean Sea wedding day was a disaster: MAURIZIO MIGLIETTA while visiting Jamaica The DJ didn’t show, got expelled eats five Big Macs the AC broke down and from the in one sitting the paella made guests sweat Horace Mann JANE WHEELER School was SUSAN MOSS a steeplechase EVGENY FREIDMAN at age 17 was a jockey was a ball boy at the juggling clown in Macy’s U.S. Open Thanksgiving Day Parade KEN DAVENPORT was featured in the first iPhone commercial DYLAN LAUREN auditioned to be a VJ for MTV MICHAEL STEIB CHRIS LIGHTY won his fantasy football never saw the stars until he grew league six years in a row up and left the Bronx MICHELLE PELUSO volunteered in Darfur JESSE ITZLER MICHAEL AIELLO hires a ,a MARK PITTS pedicab for his workouts MIKAEL JOHNSON former EMT,delivered is an avid bowler who owns six and pedals the driver had an ancestor who fought 15 babies in the field custom-made balls beside George Washington around

PHIL SHAWE IAN LAIRD was charged by played poker for a lion while on an 48 hours straight African safari in Vegas

JOE CHAN MICHAEL MACDOUGALL lost a bike race to screwed up the labels on his older boss, 10,000 boxes of tissues while Dan Doctoroff working at Procter & Gamble istockphotos

F22 March 3, 2008 ❘ www.crainsnewyork.com/40under40 ❘ Crain’s New York Business Project1 2/6/08 3:15 PM Page 1

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NEIGHBORHOOD JOURNAL

the board refused to grant a letter of Brooklyn crafts artisan showcase support to the project last year.Zon- ing, however, allows developers to build as planned. Williamsburg. Etsy, a Dumbo- Community development will auto yard about a mile from Ford- “We’re trying to attract buzz to New f lea market based handmade crafts organiza- be another theme.Nonprofits such ham University’s campus. the Bronx,” says District Manager designed to give tion, has been asked to organize a as Housing Works and Build It Rather than viewing the devel- Fernando Tirado. “We don’t want stand each week featuring the best Green NYC will have stands in opment as a boost for the area, some anything coming in the way of that boost to Fort Greene local ceramics, letterpress or the market. So, too, will the Myr- members of Community Board 7 and bringing the community down.” neighborhood needlepoint artisans from its Web tle Avenue Revitalization Project, fret that the project could actually The McSam Hotel Group, the site. which plans to promote its nu- bring it down. They fear that the developer of the Comfort Inn, in- lea markets have a The flea market will launch on trition program to neighborhood sists its project will reputation for being the April 6 and will run every Sunday in residents. thrive. It is hoping to last refuge of yesteryear’s One keen backer of the project is tap into the market of chintzy clothing and City Councilwoman Letitia James, people visiting near- banged-up furniture. Housing Works and not because of the community by Fordham Univer- FThe sponsors of the Brooklyn Flea, and Build It programs it will promote.“I love flea sity and Montefiore planned for Fort Greene,aim to turn markets,” says Ms. James. Medical Center. The that reputation on its head. The The market is the brainchild of site is also an easy market is being billed as a way to Green NYC will Jon Butler, the writer behind popu- walk to the New York boost local artisans and at the same lar Brooklyn real estate blog Brown- Botanic Garden as time inject new life into the neigh- have stands stoner.com. Mr. Butler sees the well as the Bronx borhood. Brooklyn Flea as an opportunity to Zoo. In addition to antique furniture in the market extend his brand and deepen his Although the and vintage clothing stands, the connection to the borough. Comfort Inn is the de- market will feature the offerings of —matthew sollars veloper’s first hotel some of the borough’s newest de- project in the Bronx, it

signers, chefs and craft makers. getty images has built nearly 50 “Brooklyn has enough artists to a schoolyard on Lafayette Avenue. Bronx cheer THE BRONX ZOO will be an easy walk from a new Comfort Inn. hostelries elsewhere in sustain a weekly market of its own,” Opening-day celebrations will in- for new hotel the city in recent years. says Eric Demby, one of the clude a children’s concert, “Baby “We understand founders of the flea market. Loves Jazz,” at the Masonic Temple a planned hotel on a bleak sec- $180-a-night rates the Comfort Inn the community’s concerns, but we So far, more than 100 vendors across the street. tion of Webster Avenue in the will be charging are simply not sus- don’t think at $180 per night that it’s have signed up, including Fort Mr.Demby hopes concerts at the Bronx is making its neighbors un- tainable in the area and that the de- going to bring the wrong type of Greene-based jewelry designer temple will become a regular part of comfortable. Construction will be- velopment will quickly degenerate clientele,” says Patrick Jones, special Gabriela de la Vega, as well as de- the market and will help draw visi- gin this month on a 42-room Com- into a “hot sheet”hotel and draw un- counsel to the McSam group. signers from Crown Heights and tors from all over the city. fort Inn on the site of an abandoned savory characters. For that reason, —hilary potkewitz

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March 3, 2008 | Crain’s New York Business | 43 nb09p44_45cls.qxp 2/28/08 1:09 PM Page 44

ACCOUNTING REAL ESTATE PUBLIC & LEGAL NOTICES

BUILDING FOR SALE Notice of Qualification of 440 Ninth Avenue, NOTICE OF FORMATION of TAMUNANGUE STRATEGIC VISUAL CONSULTING, LLC, a L.P. Authority filed with NY Dept. of State on LLC. Arts. Of Org. filed with Secy. Of State of domestic Limited Liability Company (LLC) East Village • 6 St. Marks Place 1/22/08. Office location: NY County. Principal N.Y. (SSNY) on 6/27/07. Office location: New filed with the Sec of State of NY (SSNY) on business address: 1633 Broadway, Ste. 1801, York County. SSNY designated as agent of 8/7/07. NY office Location: NEW YORK County. BUILDING FOR SALE NY, NY 10019. LP formed in Delaware (DE)on LLC upon whom process against it may be SSNY is designated as agent upon whom 5 story. 15,000 total sq ft 12/6/07. NY Secy. of State designated as served. SSNY shall mail process to: c/o process against the LLC may be served. SSNY Prime Location, next to Cooper Square agent of LP upon whom process against it Lois M. Vitti, Esq., 12 Perry Street, 2C, NY, shall mail a copy of any process against the may be served and shall mail process to: NY 10014. Date of Dissolution: 12/31/2095. LLC served upon him/her to THE LLC, 225 BUSINESS OPPORTUNITY VERY MOTIVATED SELLER Contact Steve Rappaport 646-673-8750 c/o CT Corporation System, 111 8th Ave., Principal business location: 317 Pavonia Ave., PARK AVENUE, 24TH FLR., NY, NY 10167. Tired of 9-5 job? Earn 3k-5k a week NY, NY 10011, registered agent upon whom #8, Jersey City, NJ 07302. Purpose: Any General purposes. www.sinvin.com process may be served. DE address of LP: with No Failure proven automated lawful activity. The Corporation Trust Co.,1209 Orange St., Notice of Qualification of Culligan Dealer Co., system.Get that system now! COMMERCIAL Wilmington, DE 19801. Name/address of www.thousanddollarprofits.com/74791 NOTICE OF FORMATION of 44th Street LLC. Authority filed with NY Dept. of State on genl. ptr. available from NY Secy. of State. Restaurant, LLC Arts. of Org. filed with the 1/25/08. Office location: NY County. Principal BUSINESS SERVICES Cert. of LP filed with DE Secy. of State, 401 Secy. of State of NY (SSNY) on 10/12/00. business address: 9399 W. Higgins Rd., Ste. Federal St., Dover, DE 19901. Purpose: any Office location: NY County. SSNY designated 1100, Rosemont, IL 60018. LLC formed in lawful activity. as agent of LLC upon whom process against Delaware (DE) on 10/15/97. NY Secy. of it may be served and shall mail a copy of State designated as agent of LLC upon whom Notice of Qualification of BR 1355 First Avenue process to LLC, 16 East 40th St., New York, process against it may be served and shall 7 Tier I Member, LLC. Authority filed with NY NY 10016, LLC’s principal business location. mail process to: c/o CT Corporation System, Dept. of State on 10/16/07. Office location: NY Registered agent of LLC upon whom process 111 8th Ave., NY, NY 10011, registered agent County. LLC formed in Delaware (DE) on against it may be served is Marcel Doron, 16 upon whom process may be served. DE 10/5/07. NY Secy. of State designated as agent East 40th St., New York, NY 10016. Purpose: address of LLC: 1209 Orange St., Wilmington, of LLC upon whom process against it may be any lawful activity. DE 19801. Arts. of Org. filed with DE Secy. served and shall mail process to: c/o Bluerock of State, 401 Federal St., Dover, DE 19901. Real Estate, LLC, 680 5th Ave., 16th Fl., NY, Notice of Formation of CHAMPION PARKING Purpose: consumer and commercial water NY 10019, principal business address of the 74 LLC. Arts. of Org. filed with Secy. of State products and services. CORPORATE MEETING VENUE LLC. DE address of LLC: c/o Corporation of N.Y. (SSNY) on 1/30/08. Office location: NY Service Co., 2711 Centerville Rd., Ste. 400, County. SSNY designated as agent of LLC Notice of Qualification of Stonehenge Fund Trendsetting Creative SoHo Lofts Wilmington, DE 19808. Cert. of Form. filed upon whom process against it may be served. III Promote LLC, App. for Auth. filed Sec'y for Day Conferences, Product Development, with DE Secy. of State, P.O. Box 898, Dover, SSNY shall mail process to: The LLC, 655 of State (SSNY) 12/10/07. Office location: Training Workshops, Branding Sessions... DE 19901. Purpose: any lawful activity. Third Avenue, NY, NY 10017. Purpose: any NY County. LLC org. in DE 10/11/07. SSNY [email protected] 212 431 8824 lawful purpose. designated as agent of LLC upon whom Notice of Qualification of Lola’s House LLC. process against it may be served. SSNY EVENT/EDUCATION PUBLIC & LEGAL Authority filed with NY Dept. of State on Notice of Qualification of Goldman Sachs shall mail copy of process to c/o Nat. Reg. 11/6/07. Office location: NY County. Principal Vintage IV PMD QP Fund, L.P. Authority filed Agents, 875 Ave of the Americas, NY, NY So, you want to follow your dream to open business address: 11 Waverly Place, NY, NY with Secy. of State of N.Y. (SSNY) on 1/11/08. 10001, the Reg. Agt. upon whom proc. may a restaurant or expand your location? NOTICES 10011. LLC formed in Delaware (DE) on Office location: NY County. LP formed in be served. DE office addr.: 160 Greentree 12/28/06. NY Secy. of State designated as Delaware (DE) on 3/5/07. SSNY designated Dr., Dover, DE 19904. Cert. of Form. on file: Find your roadmap for business success agent of LLC upon whom process against it as agent of LP upon whom process against it SSDE, Townsend Bldg., Dover, DE 19901. at the International Restaurant & NOTICE OF FORMATION of Limited Liability may be served and shall mail process to: c/o may be served. SSNY shall mail process to: Purpose: any lawful activities. Foodservice Show of New York. Visit Company (LLC) Palladium Estates LLC. Arts. The Flatiron Grp LLC, 156 5th Ave., Ste. 1123, 85 Broad Street, NY, NY 10004. DE address of LP: 2711 Centerville Road, Ste. 400, www.internationalrestaurantny.com Of Org. filed with Secy. Of State of N.Y.(SSNY) NY, NY 10010. DE address of LLC: c/o Notice of Qualification of Mariner Port Chester on 1/14/08. Office location: New York County. Corporation Service Co., 2711 Centerville Rd., Wilmington, DE 19808. Name/address of each LLC, App. for Auth. filed Sec'y of State for more information. Or call Diana SSNY designated as agent of LLC upon whom Ste. 400, Wilmington, DE 19808. Arts. of Org. genl. ptr. available from SSNY. Cert. of LP filed (SSNY) 1/8/08. Office location: NY County. Press at 1-800-363-3631. process against it may be served. SSNY shall filed with DE Secy. of State, P.O. Box 898, with DE Secy. of State, Townsend Bldg., Dover, LLC org. in DE 11/19/07. SSNY designated mail process to: C/O the LLC, 325 East 41st Dover, DE 19903. Purpose: own real estate. DE 19901. Purpose: any lawful activity. as agent of LLC upon whom process against INVESTMENT OPPORTUNITY Street, #305, NY, NY 10017. Principal business it may be served. SSNY shall mail copy of location: 325 East 41st Street, #305, NY, Notice of Qualification of Gemini 442 West 36th TOM PALMER PROJECTS LLC, a domestic process to 13 Oxford Rd., Hastings on NY 10017. Purpose: any lawful activity. Street 31, LLC. Authority filed with Secy. of Limited Liability Company (LLC), filed with Hudson, NY 10706. DE office addr.: 160 State of NY (SSNY) on 1/8/08. Office location: the Sec of State of NY (SSNY) on 1/7/08. Greentree Dr., Dover, DE 19904. Cert. of Notice of Formation of CCM Property NY County. LLC formed in Delaware (DE) on NY Office location: NEW YORK County. Form. on file: SSDE, Townsend Bldg., Dover, Management LLC, Art. of Org. filed Sec'y of 1/7/08. SSNY designated as agent of LLC SSNY is designated as agent upon whom DE 19901. Purpose: any lawful activities. State (SSNY) 12/4/07. Office location: NY upon whom process against it may be served. process against the LLC may be served. County. SSNY designated as agent of LLC SSNY shall mail process to: William T. Obeid, SSNY shall mail a copy of any process NOTICE OF FORMATION OF dress code LLC. upon whom process against it may be served. 200 Park Ave. So., Ste. 1305, NY, NY 10003, against the LLC served upon him/her to Article of Organization filed with the Secretary SSNY shall mail copy of process to c/o also registered agent. Address to be maintained DEBOOT & SIRIS P.C., 60 E. 42ND ST., NY, of State of NY (SSNY) on 3/24/06 Office Cayuga Capital Management LLC, 331 W. in DE: c/o Corporation Service Company, 2711 NY 10165. General purposes. location NEW YORK County. SSNY has been 57th St., Ste. 301, NY, NY 10019. Purpose: Centerville Rd., Ste. 400, Wilmington, DE designated as agent upon whom process any lawful activities. 19808. Arts. of Org. filed with DE Secy. Of Notice of Formation of RR REO II LLC. Arts. against it may be served. The Post Office State, 401 Federal St., Ste 4., Dover, DE of Org. filed with Secy. of State of N.Y. (SSNY) address to which the SSNY shall mail a copy Notice of Formation of 160 Jamaica Realty 19901. Purpose: any lawful activities. on 2/12/08. Office location: NY County. SSNY of any process against the LLC served upon LLC. Arts. of Org. filed with Secy. of State designated as agent of LLC upon whom process him/her is C/O the LLC 131 Essex #5 South. against it may be served. SSNY shall mail of N.Y. (SSNY) on 5/3/07. Office location: LOUIS SIMPSON AND SAMUEL'S LLC Articles New York, NY 10002. Purpose of LLC: to process to principal business location: c/o The NY County. SSNY designated as agent of of Org. filed NY Sec. of State (SSNY) 1/16/08. engage in any lawful act or activity. Street LLC, 150 E. 52nd St., 27th Fl., NY, NY 10022. LLC upon whom process against it may be Office in NY Co. SSNY desig. agent of LLC address of Principal Business location is: 131 Purpose: any lawful activity. served. SSNY shall mail process to: c/o upon whom process may be served. SSNY Essex #5 South. New York, NY 10002. Conway Stores, Inc., 1333 Broadway, NY, shall mail copy of process to c/o Lazarus & !!!!!!! BUY FORECLOSURES !!!!!!! NY 10018, Attn: Richard Cohen. Purpose: Notice of Qualification of Macquarie Equipment Lazarus, P.C., 240 Madison Ave., 8th Fl., NY, Finance, LLC. Authority filed with NY Dept. of Notice of Qualification of Meso LLC. Authority Fund Your Deals! Co-Own/Cash Out! any lawful activity. NY 10016. Purpose: Any lawful purpose. filed with NY Dept. of State on 1/18/08. Access 9,000 Investors! Training! State on 2/6/08. Office location: NY County. Principal business address: 2285 Franklin Rd., Office location: NY County. LLC formed in Free Info: 1-800-854-1952 ext215 Notice of Registration of JFK Engineers Notice of Qualification of BR 1355 FIRST Delaware (DE) on 1/9/08. NY Secy. of State LLP. Cert. filed with NY Dept. of State on Bloomfield Hills, MI 48302. LLC formed in TELECOMMUNICATIONS AVENUE 24, LLC. Authority filed with Secy. of Delaware (DE) on 11/27/07. NY Secy. of State designated as agent of LLC upon whom 3/26/07. Office location: NY County. Secy. State of N.Y. (SSNY) on 1/8/08. Office location: process against it may be served and shall of State designated as agent of LLP upon designated as agent of LLC upon whom NY County. LLC formed in Delaware (DE) on process against it may be served and shall mail process to the principal business NEW YORK’S whom process against it may be served 1/7/08. SSNY designated as agent of LLC address of the LLC: 315 E. 68th St., Apt. 4B, and shall mail process to: 15 W. 72nd St., mail process to: c/o CT Corporation System, MOTOTRBO SPECIALISTS upon whom process against it may be served. 111 8th Ave., NY,NY 10011,registered agent NY, NY 10021. DE address of LLC: 2711 Apt 5E, NY, NY 10023. Purpose: practice the SSNY shall mail process to principal business Centerville Rd., Ste. 400, Wilmington, DE profession of engineering. upon whom process may be served. DE location: c/o Bluerock Real Estate, LLC, 680 address of LLC: 1209 Orange St., Wilmington, 19808. Cert. of Form. filed with DE Secy. of MOTOTRBO™ Fifth Ave., 16th Fl., NY, NY 10019. DE address DE 19801. Arts. of Org. filed with DE Secy. State, Townsend Bldg., Dover, DE 19901. Professional Digital Notice of Formation David Frank Real Estate of LLC: c/o Corporation Service Company, Purpose: any lawful activity. Two-Way Radio System of State, 401 Federal St., Dover, DE 19901. You can benefit from significant LLC art. of org. filed Secy. of State NY (SSNY) 2711 Centerville Road, Ste. 400, Wilmington, Purpose: any lawful activity. productivity gains with this reliable 10/15/07. Off. loc. in NY Co. SSNY designated DE 19808. Cert. of Form. filed with DE Secy. Name of LLC: SEAPORT GROUP LEASING, and affordable communication as agent of LLC upon whom process may be of State, P.O. Box 898, Dover, DE 19901. solution. Enjoy the clearer voice Notice of Qualification of GGCP SEQUOIA LLC. Articles of Org. filed Dept. of State of NY Purpose: any lawful activity. capabilities and enhanced battery served. SSNY shall mail copy of process to: PARTNERS, L.P. Authority filed with Secy. on 12/28/07. Office location in NY: New York life that digital provides. 300 Albany St, 9-C, NY, NY 10280. Purpose: of State of N.Y. (SSNY) on 1/30/08. Office County. Principal bus. loc. 360 Madison • Integrated voice and data Any lawful purpose. Notice of Formation of GM125 REALTY LLC. location: NY County. LP formed in Delaware Avenue, 22nd Floor, New York, NY 10017. for increased productivity Arts. of Org. filed with Secy. of State of N.Y. Secy. of State designated as agent of LLC and privacy (DE) on 12/19/05. SSNY designated as agent • Supports GPS Notice of Formation of LP-OREO, LLC. Arts. of (SSNY) on 1/25/08. Office location: NY of LP upon whom process against it may be upon whom process against it may be served. and text messaging Org. filed with Secy. of State of NY (SSNY) County. SSNY designated as agent of LLC served. SSNY shall mail process to principal Sec. of State shall mail a copy of process to • Doubles the call capacity upon whom process against it may be served. 360 Madison Avenue, 22nd Floor, New York, on a single channel – on 1/23/08. Office location: NY Co. SSNY business location: 800 Third Ave., 23rd Fl., for the price of one license designated as agent of LLC upon whom SSNY shall mail process to: 400 W. 14th St., NY, NY 10022, Attn: Mr. Geoffrey Gwin. DE NY 10017. Purpose: (i) leasing and subleasing Call us today for a professional, process against it may be served. SSNY shall NY, NY 10014. Purpose: any lawful activity. address of LP: 2711 Centerville Road, Ste. 400, of real property; and (ii) any other lawful no obligation survey or on-site demo. mail process to: The LLC, 120 Broadway, Wilmington, DE 19808. Name/address of each business activity. Ste. 1050B, NY, NY 10271. Purpose: any Notice of Qualification of MRA Opportunities genl. ptr. available from SSNY. Cert. of LP lawful activities. Fund LP, App. for Auth. filed Sec'y of State filed with DE Secy. of State, Townsend Bldg., GOTHAM DIGITAL VENTURES, LLC, Articles of (SSNY) 8/27/07. Office location: NY County. 307 Fifth Avenue, New York, NY 10016 Dover, DE 19901. Purpose: any lawful activity. Org. filed N.Y. Sec. of State (SSNY) 30th day of 212-532-7400 Notice of Formation of KNICKERBOCKER LP org. in DE 8/7/07. SSNY designated as October, 2007. Office in New York Co. at 92 www.metrocomradio.com PROPERTIES LLC. Arts. of Org. filed with agent of LP upon whom process against it Notice of Formation of Urban Organizer, LLC. Perry Street, Ste 4, New York, NY 10014. The Largest Motorola Dealer in New York State Secy. of State of NY (SSNY) on 1/3/08. Office may be served. SSNY shall mail copy of Arts. of Org. filed with Secy. of State of N.Y. SSNY desig. Agt. Upon whom process may be location: NY County. SSNY designated as process to Attn: J. Tomilson Hill, 345 Park (SSNY) on 1/25/08. Office location: NY County. served. SSNY shall mail copy of process to 92 agent of LLC upon whom process against it Ave., NY, NY 10154. DE office addr.: c/o CSC, SSNY designated as agent of LLC upon whom Perry, Ste 4, New York, NY 10014. Reg. Agt. To place your classified may be served. SSNY shall mail process to 2711 Centerville Rd., Wilmington, DE 19808. process against it may be served. SSNY Upon whom process may be served: Albert ad call John Gallagher principal business location: c/o The Hudson Name/addr. of each gen. ptr. avail. at SSNY. shall mail process to: Helene A. Laval, 255 Tucker & Associates, LCC 295 Madison Ave. Companies, Inc., 826 Broadway, 11th Fl., NY, Cert. of LP on file: SSDE, Townsend Bldg., W. 84th St., #6D, NY, NY 10024. Purpose: NYC 10017 212.686.3200 Purpose: Any @ 212-210-0189 NY 10003. Purpose: any lawful activity. Dover,DE19901. Purpose: any lawful activities. any lawful activity. lawful purpose.

44 | Crain’s New York Business | March 3, 2008 nb09p44_45cls.qxp 2/28/08 3:11 PM Page 45

PUBLIC & LEGAL NOTICES

Notice of Qualification of Amber Latin Notice of Registration of Sanders, Ortoli, Notice of Formation of 330 Investors, LLC. Arts. JEWELWEED LLC, a domestic Limited Liability Notice of Qualification of eEmerge.NYC LLC, American Investments LLC, App. for Auth. Vaughn-Flam Rosenstadt LLP. Certificate filed of Org. filed with Secy. of State of NY (SSNY) Company (LLC) filed with the Sec of State of App. for Auth. filed Sec'y of State (SSNY) filed Sec'y of State (SSNY) 12/3/07. Office with Secy. of State of NY (SSNY) on 5/30/07. on 12/17/07. Office location: NY County. NY (SSNY) on 4/24/06. NY office Location: 6/20/00. Office location: NY County. LLC org. location: NY County. LLC org. in DE 12/12/06. Office location: NY County. SSNY designated Principal business location: 1330 Avenue of NEW YORK County. SSNY is designated as in DE 5/15/00. SSNY designated as agent of SSNY designated as agent of LLC upon whom as agent of LLP upon whom process against the Americas, 23rd Fl., NY, NY 10019. SSNY agent upon whom process against the LLC LLC upon whom process against it may be process against it may be served. SSNY shall it may be served. SSNY shall mail process to: designated as agent of LLC upon whom may be served. SSNY shall mail a copy of served. SSNY shall mail copy of process mail copy of process to Attn: Jed Rubin, 153 501 Madison Ave., 14th Fl., NY, NY 10022. process against it may be served. SSNY shall any process against the LLC served upon to c/o Nat. Reg. Agents, 875 Ave of the E. 53rd St., 57th Fl., NY, NY 10022. DE Purpose: practice the profession of law. mail process to: Edward D. Feldstein, Esq., 10 him/her to C/O MARTIN SHAW, 350 5TH Americas, NY, NY 10001, the Reg. Agt. upon office addr.: c/o CSC, 2711 Centerville Rd., Weybosset St., 8th Fl., Providence, RI 02903. AVE, STE. 2816, NEW YORK, NY 10118. whom proc. may be served. DE office addr.: Wilmington, DE 19808. Cert. of Form. on file: Name: AESTHETIX, LLC Art. Of Org. Filed Purpose: any lawful activity. General purposes. 160 Greentree Dr., Dover, DE 19904. Cert. of SSDE, Townsend Bldg., Dover, DE 19901. Sec. Of State NY 12/21/07. Off. Loc.: New Form. on file: SSDE, Townsend Bldg., Dover, Purpose: any lawful activities. York Co. SSNY designated as Agent upon Notice of Qualification of 1225 Realty Owner Name of Foreign LLC: W&M WEST 40TH DE 19901. Purpose: any lawful activities. whom process against it may be served. LLC. Authority filed with Secy. of State of STREET LENDER, LLC. App. for Auth. filed NY Notice of Qualification of BR 1355 First Avenue SSNY to mail copy of process to THE LLC, N.Y. (SSNY) on 1/22/08. Office location: NY Dept. of State: 1/11/08. Jurisd. and date of Notice of Qualification of VIP Capital 11, LLC. Authority filed with NY Dept. of State c/o Parkmed/ Eastern Women’s Center, 800 County. LLC formed in Delaware (DE) on org.: DE 9/26/07. County off. loc.: New York Management L.P. Authority filed with NY on 10/10/07. Office location: NY County. LLC Second Ave., 7th Flr., New York, NY 10017. 3/23/07. SSNY designated as agent of LLC County. Sec. of State designated as agent of Dept. of State on 1/17/08. Office location: formed in Delaware (DE) on 10/5/07. NY Secy. Purpose: Any lawful act upon whom process against it may be served. foreign LLC upon whom process against it NY County. LP formed in Delaware (DE) on of State designated as agent of LLC upon SSNY shall mail process to principal business may be served. The Sec. of State shall mail 12/19/07. NY Secy.of State designated as agent whom process against it may be served and Notice of Qualification of Capstone Real Estate location: c/o The Cherit Organization, 404 Fifth copy of process to: Wien & Malkin LLC, 60 of LP upon whom process against it may be shall mail process to: c/o Bluerock Real Estate, Management, LLC. Authority filed with Secy. Ave., 5th Fl., NY, NY 10018. DE address of LLC: East 42nd Street, New York, NY 10165. Addr. served and shall mail process to: 152 W. 57th LLC, 680 5th Ave., 16th Fl., NY, NY 10019, of State of N.Y. (SSNY) on 11/5/07. Office c/o United Corporate Services, Inc.,874 Walker of foreign LLC in DE is: c/o National Corporate St., 46th Fl., NY, NY 10019, principal business principal business address of the LLC. DE location: NY County. LLC formed in Delaware Road, Ste. C, Dover, DE 19904. Arts. of Org. Research, Ltd., 615 South DuPont Hwy., address of the LP. DE address of LP: c/o address of LLC: c/o Corporation Service Co., (DE) on 5/10/07. SSNY designated as agent filed with DE Secy. of State, Townsend Bldg., Dover, DE 19901. Auth. officer in DE where Corporation Service Co., 2711 Centerville 2711 Centerville Rd., Ste. 400, Wilmington, DE of LLC upon whom process against it may be Dover, DE 19901. Purpose: any lawful activity. Cert. of Form. filed: Harriet Smith Windsor, Rd., Ste.400, Wilmington, DE 19808. 19808. Cert. of Form. filed with DE Secy. of served. SSNY shall mail process to: 1350 Division of Corporations, P.O. Box 898, Dover, Name/address of genl. ptr. available from NY State,P.O.Box 898, Dover, DE 19901.Purpose: Avenue of the Americas, 24th Fl., NY, NY Notice of Formation of AZ Zip Properties, LLC. DE 19903. Purpose: any lawful activity. Secy. of State. Cert. of LP filed with DE Secy. any lawful activity. 10019. DE address of LLC: Capstone Real Arts. of Org. filed with NY Dept. of State on of State, Townsend Bldg., Dover, DE 19901. Estate Management, LLC, c/o The Company 12/19/07. Office location: NY County. Principal Notice is hereby given a License Number Purpose: any lawful activity. Notice of Qualification of BR 1355 First Avenue Corporation, 2711 Centerville Road, Ste. 400, business address: 15 Central Park West, NY, (PENDING) for on-premises Liquor has been 18 Tier I Member, LLC. Authority filed with NY Wilmington, DE 19808. Arts. of Org. filed with NY 10023. Secy. of State designated as agent applied for by the undersigned to sell liquor at Notice of Qualification of Nico Holdings LLC. Dept. of State on 10/15/07. Office location: NY DE Secy. of State, 401 Federal St., Ste. 4, of LLC upon whom process against it may be retail in a Hotel under the alcoholic Beverage Authority filed with NY Dept. of State on County. LLC formed in Delaware (DE) on Dover, DE 19901. Purpose: any lawful activity. served and shall mail process to: 8000 Walton Control Law at 1186 Broadway, New York, 1/17/08. NYS fictitious name: NH New York 10/5/07. NY Secy. of State designated as agent Pkwy., Ste. 100, New Albany, OH 43054. NY 10011 for on premises consumption. LLC. Office location: NY County. Principal of LLC upon whom process against it may be GHION ENTERPRISES, LLC, a domestic Limited Purpose: any lawful activity. 1186 BROADWAY TENANT LLC. business address: 311 S. Wacker Dr., Chicago, served and shall mail process to: c/o Bluerock Liability Company (LLC), filed with the Sec IL 60606. LLC formed in Delaware (DE) on NOTICE OF FORMATION OF LIMITED LIABILITY Real Estate, LLC, 680 5th Ave., 16th Fl., NY, of State of NY (SSNY) on 11/8/07. NY Office THE NUCLEUS GROUP LLC, a domestic 12/20/07. NY Secy. of State designated as COMPANY. NAME: CHINA MANAGEMENT, NY 10019, principal business address of the location:NEWYORK County.SSNY is designated Limited Liability Company (LLC), filed with agent of LLC upon whom process against it LLC. Articles of Organization were filed with LLC. DE address of LLC: c/o Corporation as agent upon whom process against the the Sec of State of NY (SSNY) on 11/15/07. may be served and shall mail process to: c/o the Secretary of State of New York (SSNY) Service Co., 2711 Centerville Rd., Ste. 400, LLC may be served. SSNY shall mail a NY Office location: NEW YORK County. CT Corporation System, 111 8th Ave., NY, NY on 12/19/07. Office location: New York County. Wilmington, DE 19808. Cert. of Form. filed copy of any process against the LLC served SSNY is designated as agent upon whom 10011, registered agent upon whom process SSNY has been designated as agent of the with DE Secy. of State, P.O. Box 898, Dover, upon him/her to THE LLC, 34 MT. MORRIS process against the LLC may be served. may be served. DE address of LLC: 1209 LLC upon whom process against it may be DE 19901. Purpose: any lawful activity. PARK, NY, NY 10027. General purposes. SSNY shall mail a copy of any process Orange St., Wilmington, DE 19801. Arts. served. SSNY shall mail a copy of process against the LLC served upon him/her to THE of Org. filed with DE Secy. of State, 401 to the LLC, c/o Marc Packer, 888 7th Avenue, Notice of Formation of HAYS VENTURES, Notice of Formation of RMG Marriage and LLC, 5 TIMES SQUARE, 24TH FLR., NY, NY Federal St., Dover, DE 19901. Purpose: New York, New York 10106. The address of LLC. Arts of Org filed with Secy of State of Family Therapy LLC. Arts. of Org. filed with 10036. General purposes. any lawful activity. NY (SSNY) on 08/13/2003. Office location: Secy. of State of NY (SSNY) on 12/18/07. the registered agent is c/o Corporation Service New York County. SSNY designated as agent Office location: NY Co. SSNY designated as Company, 80 State Street, Albany, New York Notice of Formation of 160 Montague LLC. Amalgamated Life Insurance of LLC, upon whom process against it may agent of LLC upon whom process against it 12207. Purpose: For any lawful purpose. Arts. of Org. filed with NY Dept. of State on be served. SSNY shall mail process to: may be served. SSNY shall mail process to: Company is committed to 2/13/08. Office location: NY County. Secy. of Richard J. Tufano, Esq., 475 Fifth Avenue, The LLC, 49 Lambert Rd., Southport, CT ACQUIRE NYC LLC, a domestic Limited Liability State designated as agent of LLC upon whom preventing fraud in regard to the Suite 1200, New York, NY 10017. Purpose: 06890. Purpose: any lawful activities Company (LLC) filed with the Sec of State of process against it may be served and shall Real Estate service firm. NY (SSNY) on 1/2/07. NY office Location: insurance coverage it issues. Notice of Formation of Red Apple Surf Realty NEW YORK County. SSNY is designated as mail process to the principal business address: Therefore, Amalgamated Life, II LLC. Arts. of Org. filed with Secy. of State agent upon whom process against the LLC c/o Wharton Realty, 500 5th Ave., 54th Fl., NOTICE OF FORMATION OF LIMITED LIABILITY NY, NY 10110. Purpose: any lawful activity. as required by the New York COMPANY. NAME: HBS FOOD LLC. Articles of of NY (SSNY) on 1/2/08. Office location: NY may be served. SSNY shall mail a copy of Organization were filed with the Secretary of County. SSNY designated as agent of LLC any process against the LLC served upon State Insurance Department State of New York (SSNY) on 06/29/07. The upon whom process against it may be him/her to CORPORATION SERVICE COMPANY, Notice of Qualification of Goldman Sachs makes the following statement: latest date of dissolution is 12/31/2107. Office served. SSNY shall mail process to principal 80 STATE STREET, ALBANY, NY 12207. Select Fund II, LLC. Authority filed with location: New York County. SSNY has been business location: 823 Eleventh Ave., NY, NY General purposes. Secy. of State of N.Y. (SSNY) on 1/8/08. Any person who knowingly and designated as agent of the LLC upon whom 10019, Attn: John A. Catsimatidis. Purpose: Office location: NY County. LLC formed in with intent to defraud any process against it may be served. SSNY any lawful activity. BRONZE EAGLE LLC, a domestic Limited Liability Delaware (DE) on 11/29/07. SSNY designated shall mail a copy of process to the LLC, 580 Company (LLC) filed with the Sec of State of as agent of LLC upon whom process against insurance company or other Fifth Avenue, Suite 708, New York, New York Name of LLC: Seaport Group Realty, LLC. NY (SSNY) on 10/11/07. NY office Location: it may be served. SSNY shall mail process to: person, files an application for 10036. Purpose: For any lawful purpose. Articles of Org. filed Dept. of State of NY on NEW YORK County. SSNY is designated as Goldman Sachs Hedge Fund Strategies LLC, insurance or statement of claim December 5, 2007. Office location in NY: New agent upon whom process against the LLC 1 New York Plaza, NY, NY 10004. DE address Notice of Formation of 2655 Frederick Douglas York County. Principal bus. loc. 360 Madison may be served. SSNY shall mail a copy of any of LLC: 1209 Orange St., Wilmington, DE containing any materially false LLC. Arts. of Org. filed with Secy. of State of Avenue, 22nd Floor, New York, NY 10017. process against the LLC served upon him/her 19801. Cert. of Form. filed with DE Secy. of State, P.O. Box 898, Dover, DE 19903. information, or conceals for N.Y. (SSNY) on 1/8/08. Office location: NY Secy. of State designated as agent of LLC to THE LLC, 245 CENTRE STREET, NY, NY the purpose of misleading, County. SSNY designated as agent of LLC upon whom process against it may be served. 10013. General purposes. Purpose: any lawful activity. upon whom process against it may be served. Sec. of State shall mail a copy of process to information concerning any SSNY shall mail process to principal business 360 Madison Avenue, 22nd Floor, New York, Notice of formation of limited liability company Notice of Qualification of Simon Property factual material there-to, commits location: c/o The LLC, 146 W. 57th St., NY, NY NY 10017. Purpose: (i) to act as a real estate (LLC). Name: AJIA Holdings LLC. Articles of Group Administrative Services Partnership, 10019. Purpose: any lawful activity. brokerage company; and (ii) any other lawful Organization filed with the Department of L.P. Authority filed with NY Dept. of State a fraudulent act , which is a business activity. State of New York on January 31, 2008. Office on 1/29/2008. Office location: NY County. crime. They will be subject to NOTICE OF FORMATION of Stealth location: New York County. Secretary of State Principal business address: 225 W. Washington a civil penalty not to exceed Communications Services, LLC. Arts. of Org. Notice of Qualification of Rothford Records, of New York (SSNY) is designated as agent St., Indianapolis, IN 46207. LP formed in filed with Secy. of State of NY (SSNY) on LLC. Authority filed with Secy. of State of of LLC upon whom process against it may be Delaware (DE) on 12/3/1993. NY Secy. of five thousand dollars and the 10/19/07. Office location: New York County. NY (SSNY) on 1/16/08. Office location: NY served. The principal business location and State designated as agent of LP upon whom stated value of the claim for SSNY designated as agent of LLC upon whom County. LLC formed in Delaware (DE) on the address SSNY shall mail copy of process process against it may be served and shall process against it may be served. SSNY shall 1/8/08. SSNY designated as agent of LLC to is Henry Kang, 52 West 14th St., Suite 2B, mail process to: c/o CT Corporation System, each violation. mail process to: 50 Broad St., 8th FL, NY, NY upon whom process against it may be served. New York, NY 10011. Management of the 111 8th Ave., NY, NY 10011, registered agent Anyone knowing of a fraudulent 10004. Principal business location: 50 Broad SSNY shall mail process to: c/o Marc Roth, limited liability company shall be by one or upon whom process may be served. DE St., 8th FL, NY, NY 10004. Purpose: Any 400 E. 56th St., Apt. 190, NY, NY 10022. more managers. Purpose: to engage in any address of LP: c/o The Corporation Trust Co., act should call Mark Schwartz at: lawful act. Address to be maintained in DE: 160 Greentree lawful act or activity. 1209 Orange St., Wilmington, DE 19801. Dr., Ste 101, Dover, DE 19904. Arts. of Org. Name/address of genl. ptr. available from NY Amalgamated Life Secy. of State. Cert. of LP filed with DE Secy. Notice of Qualification of SLG 1515 Asset filed with DE Secy. Of State, 401 Federal Notice of Qualification of Charles Street Insurance Company of State, 401 Federal St., Dover, DE 19901. Management Fee LLC, App. for Auth. filed St., Ste 4., Dover, DE 19901. Purpose: any Advisors LLC, App. for Auth. filed Sec'y 730 Broadway Purpose: all lawful purposes. Sec'y of State (SSNY) 4/4/02. Office location: lawful activities. of State (SSNY) 11/30/07. Office location: New York, NY 10003 NY County. LLC org. in DE 4/3/02. SSNY NY County. LLC org. in DE 4/9/07. SSNY designated as agent of LLC upon whom Notice of Formation of Stonex Natural Stone, designated as agent of LLC upon whom Notice of Formation of 412 West 14 Realty 212-539-5000 process against it may be served. SSNY LLC, Art. of Org. filed Sec'y of State (SSNY) process against it may be served. SSNY LLC. Arts. of Org. filed with Secy. of State of shall mail copy of process to c/o Nat. Reg. 4/10/07. Office location: NY County. SSNY shall mail copy of process to 177 E. 75th NY (SSNY) on 9/18/07. Office location: NY Co. REQUEST FOR PROPOSALS Agents, 875 Ave of the Americas, NY, NY designated as agent of LLC upon whom St., Apt. 9D, NY, NY 10021.DE office addr.: SSNY designated as agent of LLC upon whom 10001, the Reg. Agt. upon whom proc. may process against it may be served. SSNY shall c/o Agents & Corporations, 1201 Orange process against it may be served. SSNY shall be served. DE office addr.: 160 Greentree Dr., mail copy of process to c/o Karaahmetoglu & Luz St., Wilmington, DE 19801. Cert. of Form. mail process to: The LLC, c/o 433 West 14th Dover, DE 19904. Cert. of Form. on file: Firm, LLP, Attn: Barbaros M. Karaahmetoglu, on file: SSDE, Townsend Bldg., Dover, DE St., Ste 429, 3R, NY, NY 10014. Purpose: any SSDE, Townsend Bldg., Dover, DE 19901. 1500 Broadway, 21st Fl., NY, NY 10036. 19901. Purpose: any lawful activities. lawful activities. Purpose: any lawful activities. Purpose: any lawful activities. Notice of Formation of Okin Hill I,LLC. Arts. of NOTICE OF FORMATION: DINACHARYA LLC. 45 WATERS EDGE ROAD, LLC Articles of Org. Name: KC 129-09, LLC Art. Of Org. Filed Sec. Org. filed with Secy. of State of NY (SSNY) Arts. Of Org. filed with Secy. of State of NY filed NY Sec. of State (SSNY) 10/16/07. Office Of State NY 12/11/03. Off.Loc,: New York on 1/24/08. Office location: NY County. SSNY (SSNY) on 9/11/07. Office Location: New York in NY Co. SSNY desig. agent of LLC upon Co. SSNY designated as agent upon whom designated as agent of LLC upon whom County. SSNY designated as agent of LLC whom process may be served. SSNY shall process against it may be served. SSNY to process against it may be served. SSNY upon whom process against it may be served. mail copy of process to 1031 Vest, LLC, 44 mail copy of process to The LLC C/O Kevin D. shall mail process to: Corporation Service SSNY shall mail process to Principal Business Wall St., 10th Fl., NY, NY 10005. Purpose: Any Kim, 235 E. 40th St., Ste. 9A, NY, NY 10016. Company, 80 State St., Albany, NY 12207. Location: 95 Lexington Avenue, #1N, NY, NY lawful purpose. Purpose: Any lawful act. Purpose: all lawful acts and activities. 10016. Purpose: any lawful activity.

March 3, 2008 | Crain’s New York Business | 45 CNYB 03-03-08 A 46 2/28/2008 7:47 PM Page 1

REAL ESTATE DEALS

the transaction, and Manhattan Commercial Realty negotiated for Visual arts school eyes new space the tenant. —elisabeth butler cordova

action. ing into the new space, on the sev- In midtown, Bershan Shaw and Growth spurs The school also signed a 26-year enth floor, last week. Asking rent in Jorge Peguero have signed a 10- Language school signing of 2 leases lease for 333 W. 23rd St., between the 21-story building was $45 a year lease for 3,000 square feet at leaves hotel Eighth and Ninth avenues. The square foot. 244 E. 51st St., between Second and in Chelsea for fine 20,000-square-foot building holds The company needs more space Third avenues, for a lounge called the american language Com- two movie theatres.The school plans for its growing design and market- Haven. munication Center has signed a 20- arts, special events to start using it in the fall for lectures, ing teams. It recently started focus- The candlelit bar will serve drinks year lease for 65,000 square feet at screenings and special events. ing on business in Asia, India and small-plate items from around 229 W. 36th St.,between Seventh and he school of visual Clearview Cinemas, which and Europe, and has been the world. If Haven is successful, the Eighth avenues. Arts is on an expansion left the building earlier this hiring additional staff. owners would like to open other lo- The school, which teaches Eng- binge,leasing two build- month, had leased it for over a “Our business has cations in major cities nationwide. lish as a second language,is slated to ings with a total of about decade. The location wasn’t on grown by 50% overseas,” Haven will replace Divine Bar take the second through sixth floors 74,000 square feet to ac- the market; Mr. Lipinski ap- says Principal Paul East. in June. Asking rent was $45 a Tcommodate its growing student proached the movie chain about Levy.“We have a lot Asking rent for the space, which square foot. population. giving it up. of potential to devel- includes a mezzanine level, was $72 The communication center is The college, which occupies 16 Tim Kucha, also a broker at op those markets.” a square foot. buildings in Chelsea, the East Vil- Colliers ABR, represented SVA Humanscale is re- Gabe Whitman, a broker lage and the Gramercy Park area, with Mr. Lipinski. placing Software Re- with Buchbinder & Warren has signed a 14-and-a-half-year A rental price was not avail- production Tech- Realty Group, represented lease for 335 W. 16th St., a five-story, able. The owner, Mutual Rede- nologies, which was the tenants. 54,000-square-foot property be- velopment Houses Inc., negotiated using the space to manufac- Shel Snyder of Abrams tween Eighth and Ninth avenues. It on behalf of itself. ture DVDs, CDs and USB flash Realty Corp. negotiated on will house the undergraduate fine In the past decade, SVA’s under- drives for corporate clients. behalf of building owner arts department. graduate enrollment has risen 25%, Software Reproduction wanted Genro Associates. SVA is subleasing the space from to 3,323 students; the number of to cut its lease short, and the prop- In a separate deal in ADT Security Services,a division of graduate students has grown 45%, erty’s owners were eager to give Hu- Chelsea, chef Lolo Manso, Tyco International. ADT is moving to 424. manscale more space, says James who runs the cantina at the its employees to other sites around —theresa agovino Buslik. He and Adams & Co. col- Spanish Benevolent Society’s the city, according to CB Richard league Jeffrey Schwartz represented La Nacional, plans to open a AMERICAN LANGUAGE COMMUNICATION will move Ellis broker Michael Scimo, who the landlord, East Twenty-Sixth 600-square-foot tapas and to 229 W. 36th St. (above) from the Hotel Pennsylvania. represented the tenant with col- Furniture maker Associates. paella spot at 259 W. 19th St., league Dirk Hrobsky. Mr. Scimo is doubles space Herb Goldberg, a broker with between Seventh and Eighth based in Los Angeles and co-repre- Edward Warren & Co., represented avenues. Asking rent was $112 a currently in the Hotel Pennsylvania, sents Tyco nationwide. ergonomic furniture maker Humanscale. square foot. at 401 Seventh Ave., which is slated A rental price was not disclosed, Humanscale Corp.is stretching out —elisabeth butler cordova The tentative name for the to be demolished to make room for and the building was never formally in the Flatiron district.The compa- restaurant is Socarrat. an office tower. put on the market.But in the past 12 ny recently signed a 10-year lease at Mr. Manso will offer a range of CB Richard Ellis brokers Sacha months, space there was subleased 11 E. 26th St., between Madison and Tapas on tap traditional Spanish tapas, as well as Zarba and David Hollander repre- for $30 to $40 a square foot, accord- Fifth avenues, doubling its show- in new eateries six different paellas, including sented the landlord, Real Estate ing to Mr. Scimo. SVA hopes to be- room and office space, to 24,000 seafood,chicken and black rice vari- Capital Partners. Studley brokers gin moving in January. square feet. tapas, anyone? Two more of the ations. Howard Simson and Jarod Stern Colliers ABR broker Neil Li- Humanscale, which already oc- popular Spanish-style spots are slat- Mr. Whitman represented negotiated for the center. pinski represented SVA in the trans- cupies the eighth floor, began mov- ed to open in Manhattan this spring. building owner Eighth 19th Co. in —theresa agovino

THE WEEKS AHEAD

THIS WEEK’S EVENTS Solutions Center holds seminar on Program in Design, Digital Arts and to 9 p.m., 352 Seventh Ave., 16th floor. Society Foundation holds seminar on MARCH 4 business basics. 2 p.m. to 5 p.m., Film, holds seminar on rebranding Fee: $15 members, $20 nonmembers. landing a media job. 6:15 p.m. to Vera Institute of Justice holds lecture on 110 William St., fourth-floor conference strategies. 1 p.m. to 4:30 p.m., (516) 944-6454 or 7:45 p.m., Google, 76 Ninth Ave. integrity, public trust and prosecution. room. Free. (212) 618-8862 or 5 Washington Place, first floor. Fee: $20. [email protected]. Fee: free for members, $50 7 p.m. to 8 p.m., Harvard Club, [email protected]. (212) 998-7150. MARCH 13 nonmembers. (212) 867-6650 or 35 W. 44th St. Free. (212) 376-3081. MARCH 5 Networking for Professionals holds [email protected]. MARCH 4 Magazine Publishers of America holds MARCH 10-16 networking lunch. 1 p.m. to 3 p.m., MARCH 19 Asian Women in Business holds forum on sensory marketing and MARCH 12 Opia, 130 E. 57th St. Fee: $44.90 Society for Marketing Professional workshop on starting your business. spectacular ads. 8:30 a.m. to 10:30 a.m., The Association of Legal Administrators members, $54.90 nonmembers. Services, New York chapter, holds 6 p.m. to 8 p.m., Microsoft, 810 Seventh Ave., 24th floor. Fee: $125 holds program on blogging. 8:30 a.m. to (212) 227-6556 or program on challenges of 1290 Sixth Ave. Fee: $15 members, members, $225 nonmembers. 10:30 a.m., LDI Color Toolbox, [email protected]. international marketing. 8 a.m. to $25 nonmembers. (212) 868-1368. (212) 872-3733 or [email protected]. 1500 Broadway, 10th floor. Fee: free for MARCH 13 10 a.m., Penn Club of New York, MARCH 4 MARCH 6 members, $50 nonmembers. New York Metropolitan Transportation 30 W. 44th St. Fee: $65 members, Association of Real Estate Women The Enterprise Center at the Fashion (516) 365-6472 or [email protected]. Council holds annual meeting on its $85 nonmembers. (646) 720-9814 or holds lunch on expansion plans for NYC Institute of Technology holds seminar MARCH 12 vision for a growing region. 11 a.m. to [email protected]. universities. 11:30 a.m. to 2 p.m., Club on e-commerce and transactional Web American Land Services holds course on 1 p.m., New York University’s Kimmel MARCH 19 101, 101 Park Ave., ground floor. Fee: sites. 6 p.m. to 9 p.m., Seventh Avenue real estate ethics. 8:30 a.m. to 12 p.m., Hall, 60 Washington Square South. Business Development Academy holds free for members, $110 nonmembers. at West 27th Street. Fee: $25. 530 Fifth Ave., 15th floor. Free. Free. Registration requested. networking reception. 6 p.m. to 8 p.m., (212) 599-6181 or [email protected]. (212) 217-7250 or [email protected]. (212) 239-1000. (718) 482-4551 or amiles-cole@ Cornell Club, 6 E. 44th St. Fee: $25 MARCH 4 MARCH 6 MARCH 12 dot.state.ny.us. members, $45 nonmembers. Gold Place Network holds networking Human Resources Association of New BtoB magazine holds marketing MARCH 13 (609) 919-1895 or reception. 6 p.m. to 8 p.m., Café Metro, York holds breakfast program on breakfast. 7:45 a.m. to 10 a.m., Hilton Glow International Group holds [email protected]. 14 E. 42nd St. Fee: $20 in advance only. immigration and international law. New York Hotel, 1335 Sixth Ave., meeting for empowered entrepreneurs. —adrianne pasquarelli (212) 465-8080. 8 a.m. to 10:30 a.m., Club 101, Trianon Ballroom. Fee: $45 in advance, 7 p.m. to 9 p.m., Skylight Diner, MARCH 5 101 Park Ave. Fee: $45 members, $65 $55 at door. (212) 210-0151 or 402 W. 34th St. Fee: $5 members, TO LIST YOUR EVENT B’nai B’rith Real Estate Unit holds nonmembers and $25 student members [email protected]. $10 nonmembers. (201) 484-7223 or lunch on using air rights to develop New in advance; additional $10 for all at door. MARCH 12 [email protected]. Crain’s lists business meetings online and includes York. 12 p.m. to 2 p.m., Cornell Club, (877) 625-HRNY. Forty Plus of New York holds seminar MARCH 14 them in the print edition on a space-available basis. 6 E. 44th St., Ivy Room. Fee: $55 in MARCH 6 for out-of-work executives, managers Retail Marketing Society holds lunch on Events in New York City with admission fees of less advance, $65 at door. (212) 885-7239 or Business Networking International, and business professionals on career retail convergence. 12 p.m. to 2 p.m., than $300 are considered for the print publication. [email protected]. Wall Street chapter 15, holds rejuvenation. 2 p.m. to 3:30 p.m., 470 Williams Club, 24 E. 39th St. Fee: $50 Listings can be submitted only through the Crain’s MARCH 5 networking breakfast. 7 a.m. to 8:30 Seventh Ave., suite 403. Free. Advance members, $75 nonmembers. Web site. To submit a calendar listing, go to The Lower Manhattan Business a.m., George’s Restaurant, 89 registration required. Limited seating. (201) 692-8087 or retailmarketingsoci@ www.crainsnewyork.com and click on “Events.” Greenwich St. Fee: $19. (212) 661-4590 (212) 947-4230 or main@ retailmarketingsociety.org. Sponsors have a choice of several free or paid list- More meetings online at or [email protected]. fortyplus-nyc.org. ing options. All business events will be posted www.crainsnewyork.com MARCH 8 MARCH 12 MARCH 17-23 online within two business days. Click on “Events” New York University’s School of NYC Midtown Coaching Center holds MARCH 18 Crain’s can neither confirm receipt of listings nor say Continuing and Professional Studies, program on building a business. 6 p.m. International Radio & Television if or when event listings will appear in the print edition.

46 | Crain’s New York Business | March 3, 2008 CNYB 03-03-08 A 47 2/28/2008 7:16 PM Page 1

BUSINESS

TABLE TALK Allen & Delancey shines PAGE 51

ALL NATURAL: GOTHAM GIGS Jessica Mabli is nonchalant about her colleagues’ reactions, Game time when she pumps. STEVE BERNSTEIN, 47, is ready for some Big Apple competition.The Brooklyn native, founder and president of Zenbu Media, has created the Battle for Manhattan, a two-week sports contest that he hopes will become an annual event. It starts March 30. LOST AND FOUND The idea came to him in 2005, when New York lost its bid to host the 2012 Olympics. For a $30 fee, Manhattan residents and workers 21 or over can participate in basketball, soccer and volleyball matches and in a 5K race.The competition, which will pit East Siders against West Siders, is about “bragging Mother’s milk rights,” Mr. Bernstein says. Working women pump it up to keep nursing WAR OF THE AGES He plans to join in the race and in some b-ball. But he will mostly be overseeing the games, which will be organized by age bracket and held at various high school gyms.Ten employees will assist him. UP NEXT For 2009, Mr. Bernstein envisions dodgeball, dance contests and even cook- offs. Other cities, including Chicago and London, have expressed interest in holding their own battles. “It’s not the Olympics, but it’s competitive and fun,” Mr. Bernstein says. —adrianne pasquarelli

EXPERT OPINIONS ADVICE FOR RENTING A HAMPTONS HOUSE

the early bird catches the buck ennis worm.The earlier you start looking for your summer BY MIRIAM KREININ SOUCCAR rental, the more selection you’ll have, though at a higher few years ago, Judy Musa was in the company ladies’ room when her MOTHERS price. Some people play ON THE JOB Russian roulette and wait to boss and some co-workers walked in and found her with her shirt off. see what’s available at the end She wasn’t changing her clothes. Her surprised colleagues at public 71% of all moms of the renting season— relations firm CRT Tenaka found Ms. Musa standing at the sink with with kids under Memorial Day—when prices two electric suction cups pressed to her chest, pumping milk from her 18 work become more flexible. But breasts into bottles. that tactic isn’t advisable this year. Most vacationers are Ms. Musa, who kept nursing her baby after she returned to work, 56% with children hedging their bets and renting had to find places to pump at least three times a day. under 1 work early. If you see something, “It was so embarrassing,” says Ms. Musa, now president of her own grab it. Rentals are always a 30% return to work marketing and communications firm. “But it was the only place I could go.” before a child is compromise. With a baby boom in New York City and pressure to nurse for at least six to 12 months —paul brennan 3 months old coming from everyone from the surgeon general to Mayor Michael Bloomberg, who recently Regional manager, Hamptons A Source: Working Mother Media Prudential Douglas Elliman launched a citywide breast-feeding campaign—thousands of working See WOMEN on Page 48

March 3, 2008 | Crain’s New York Business | 47 CNYB 03-03-08 A 48 2/28/2008 7:19 PM Page 1

BUSINESS LIVES

Women express on the job ADVICE FROM BUSY Continued from Page 47 it. Thinking it was a bomb, they kids for a total of two and a half MOMS WHO PUMP women are camping out in office called the police. The bomb squad years, has pumped in the bathroom INVEST IN or borrow a double pump—doing both bathrooms and ducking into vacant came and began dismantling the of a New Jersey Transit train during sides simultaneously halves pumping time. conference rooms to pump, then device—which has a lot of her commute and in a toilet IN ADVANCE of visiting an off-site location, research the racing home to relieve their nan- tubes, cords and a timer— stall at Studio 54 on a night availability of a lactation room or other facilities. (For nies. before a female employee out with a client.On a busi- example, Javits Center bathrooms don’t have electrical “More and more women are walked in and shouted: 38% ness trip to Salt Lake City, OF THE 75% outlets, so you would need to bring a manual pump.) pumping at work,” says Carol “Don’t blow it up! It’s Jessi- of working women Ms. Musa packed 20 bot- Evans, chief executive of Working ca’s, and it’s expensive.” who nurse stop tles and spent $65 to FedEx STARING AT PICTURES of your baby while you pump helps Mother Media. “With the new sci- Overall,Ms.Mabli is re- within 6 months them home over the four the milk flow faster. entific research about its impor- laxed about pumping. She days she was away. EAT HEARTY MEALS and drink lots of water. tance in passing on immunities to recently greeted New York To help ease the strain our children, it’s not just a bonding Times columnist Paul Krugman, on women, a growing number of TRY TO WORK one day a week from home.

issue; it’s a health issue.” who was waiting to go on the air, large companies, such as Deloitte, buck ennis with bottles of fresh breast milk in are setting up lactation rooms and Pilfered product her hand. even providing lactation consult- ponytail holders—a trick her pedi- embarrassing for everybody. marrying the biological needs “I don’t even care,” says Ms. ants. Still, only 26% of businesses atrician taught her. Ms. Wells has a friend whose of a mother and her baby with the Mabli, whose daughter is now 10 nationwide offer such amenities, “It was a lot of physical acrobat- boss asked her to wait until the end demands of the workplace isn’t for months old.“If someone has a prob- according to Ms. Evans at Working ics,” Ms. Wells says. of the day to pump. the faint of heart, however. Mother. Nursing mothers say one of the “You don’t want to get into an in- Surveys show that of the 75% of And women at all firms have to biggest obstacles to pumping at depth conversation with your male working women in New York City ‘Nursing is not contend with colleagues’ squea- work is that colleagues without kids boss about how your breasts feel,” who breast-feed,a little more than a mishness and lack of knowledge. don’t realize their needs. Ms. Wells says. “But she told him, third quit before the child is 6 just a bonding “If my clients knew that I was Women must pump every few ‘If you have to pee, can you wait all months old. pumping while I was on conference hours or their breasts become day?’ ” The difficulty does have its issue; it’s a calls with them, they would be un- painfully swollen. Milk can then lighter moments. Ms. Evans recalls comfortable,” says Pauline Wells, leak out and make a mess, which is COMMENTS? [email protected] the story of a woman who saw her health issue’ who owns a communications firm boss reach into the company refrig- in Bergenfield, N.J. “The govern- erator, open a bottle of her breast ment is telling us you’ve got to milk and pour it into his coffee be- nurse,and we’re so not ready for it as CONTACT INFORMATION fore she had a chance to say any- a public.” thing. lem with it, it’s not my concern.” THE CRAIN’S BEAT SHEET Jessica Mabli, a producer at Air The physical demands of breast- Suction and elastic bands America,says her pump became the feeding while on the job are so tax- ms. wells managed to nurse her EDITORS business and trade. object of a security threat. Forced to ing that many women quickly lose daughter for 10 months, mostly by pump in a handicapped bathroom, their inhibitions. Because each ses- pumping in her car between meet- GREG DAVID MIRIAM KREININ SOUCCAR Ms.Mabli would leave the cumber- sion consumes about 30 precious ings. She often parked on quiet EDITOR SENIOR REPORTER e-mail: [email protected] some machine on the floor there. minutes of an already hectic day, streets to pump and was even able to e-mail: [email protected] In charge of all editorial operations One night, two male producers women pump wherever they can. do it while driving, with suction Covers the business of arts and culture. CRAINS_1-28_ unidata_brain_ad-outlined.ai 63.2566.6770.71 lpi 71.57°18.43°0.00°45.00° 1/23/2008 1/23/2008 4:00:02 4:00:02 PM PM for the paper and related products. who were Processworking CyanProcess late MagentadiscoveredProcess YellowProcessMs. Black Musa, who breast-fed two cups attached to her bra with two THERESA AGOVINO VALERIE BLOCK REPORTER DEPUTY MANAGING EDITOR e-mail: [email protected] e-mail: [email protected] Covers commercial real estate. Edits “New York, New York” column and other stories. BARBARA BENSON REPORTER ERIK IPSEN e-mail: [email protected] DEPUTY MANAGING EDITOR Works on Health Pulse newsletter. e-mail: [email protected] Edits small business columns ELISABETH BUTLER CORDOVA and special reports. REPORTER e-mail: [email protected] ROBERT HORDT Covers retail and apparel. ASSISTANT MANAGING EDITOR e-mail: [email protected] AMANDA FUNG Edits special reports and other stories. REPORTER e-mail: [email protected] ELIZABETH MACBRIDE Covers technology and telecom. CONTRIBUTING EDITOR—REPORTS e-mail: [email protected] DANIEL MASSEY Edits special reports and Crain’s Health REPORTER Pulse. e-mail: [email protected] Covers the New York economy, REPORTERS including labor and immigration. AARON ELSTEIN HILARY POTKEWITZ SENIOR REPORTER REPORTER e-mail: [email protected] e-mail: [email protected] Covers Wall Street. Covers legal issues, transportation and ERIK ENGQUIST sports. SENIOR REPORTER GALE SCOTT e-mail: [email protected] REPORTER Covers politics and government, and e-mail: [email protected] works on Crain’s Insider newsletter. Covers hospitals and insurers, and LISA FICKENSCHER works on Health Pulse newsletter. SENIOR REPORTER MATTHEW SOLLARS e-mail: [email protected] REPORTER Covers tourism, restaurants, hotels. e-mail: [email protected] MATTHEW FLAMM Covers politics and government, and SENIOR REPORTER works on Crain’s Insider newsletter. e-mail: [email protected] Contributes to “Neighborhood Journal” column. Covers media and entertainment. SAMANTHA MARSHALL WEB STAFF SENIOR REPORTER KIRA BINDRIM e-mail: [email protected] ONLINE REPORTER Covers education, and international e-mail: [email protected]

48 | Crain’s New York Business | March 3, 2008 CNYB 03-03-08 A 49 2/28/2008 3:39 PM Page 1

BUSINESS LIVES CORPORATE LADDER T. Timothy Ryan Financial firefighter Chief needs to keep how much Mr. Ryan will be com- pensated, but the former J.P. Mor- PERSONNEL FILE securities trade group gan vice chairman took a pay cut. Mr. Lackritz was paid $1.1 million COMPANY Securities Industry together during Wall in the fiscal year ended Oct. 31, and Financial Markets Street’s credit crisis 2006, according to Internal Rev- Association enue Service records. TITLE Chief executive BY AARON ELSTEIN Big losses AGE 62 mr.ryan joins Sifma at one of Wall RÉSUMÉ Vice chairman at J.P. risis on Wall Street is Street’s darkest moments in recent Morgan Chase & Co.; director of nothing new to T.Tim- times. The credit crisis has socked the Office of Thrift Supervision othy Ryan.As a teenag- many of his trade group’s firms with during the George H.W. Bush er, he joined his father, tens of billions in mortgage-related administration who was chief of a losses, with the prospect of even Cdowntown New York Fire Depart- more to come, should a group of HOMETOWN Huntington, L.I. ment precinct,to help put out blazes bond insurance companies collapse. FAVORITE RESTAURANT in the financial district. His No. 1 task right now is to keep Quatorze Bis Though he swapped a firefight- his trade group’s 650 member firms er’s helmet for a banker’s pinstriped together as they try to work out a

suit long ago, Mr. Ryan says his role rescue plan for the insurers with the OTS, he served as a lawyer in the neff david hasn’t changed much. Over his 30 Spitzer administration. U.S.Department of Labor,where he years as a regulator and dealmaker, But Mr. Ryan has ample experi- cracked down on corrupt union plan was ultimately unsuccessful, he ciation and the Bond Market Asso- he’s helped cool such hot issues as ence working on Wall Street’s knot- pension plans. says his efforts to help revive a ciation. In addition to all his other the savings and loan debacle and tiest problems. He continued his public policy stalled Canadian debt market fared experience on Wall Street and in Iraqi government debt. In 1989, he was summoned by bent when he landed at J.P.Morgan better. Washington, Mr. Ryan has endured “I’ve been a financial fireman,”he the George H.W. Bush administra- & Co. in 1993, rising to vice chair- the pain of mergers, surviving J.P. says. “When there was an alarm, I tion to head the Office of Thrift Su- man of the unit that advised finan- Intriguing offer Morgan’s combinations with Chase was called.” pervision, a key post during that cial institutions and governments, mr. ryan says he was happy at J.P. and Bank One. He’ll face one of his biggest con- era’s financial crisis. Though a Sen- including Fannie Mae and the Morgan.But he was intrigued when “Tim has the right mix of hands- flagrations yet in his new role as ate committee approved his ap- World Bank. Blythe Masters, a colleague at the on industry and product knowledge, chief executive of the Securities In- pointment by just a single vote, he Last year, he was part of a group bank and Sifma chairman, called to a keen command of domestic and dustry and Financial Markets Asso- was an aggressive regulator, slam- that drafted a plan for a superfund see if he would run the trade group, global public policy, and proven ciation, Wall Street’s leading trade ming shut about 700 insolvent sav- designed to help banks avoid put- which needs a firm hand on top as it leadership skills,” Ms. Masters says. group. He replaces Marc Lackritz, ings and loans and selling $300 bil- ting billions of dud mortgage-relat- grapples with its recent merger be- who retired Dec. 31. It isn’t clear lion of assets.Prior to working at the ed assets on their books. While that tween the Securities Industry Asso- COMMENTS? [email protected]

March 3, 2008 | Crain’s New York Business | 49 CNYB 03-03-08 A 50 2/28/2008 3:48 PM Page 1

BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING of finance at Weber Shandwick. was promoted to executive vice president He had been a managing director at Huron Consulting Group: David K. Cliff Berman, 48, was promoted to and co-director of commercial banking A.G. Edwards. HOT JOBS Moffat, 45, joined as managing director. general manager from executive vice from senior vice president. Macquarie Group: Jim Rossman, 45, was He was formerly president and chief president. George Jarvis, 58, was promoted to appointed senior managing director. He operating officer at GCom2 Solutions. Lisa Pearson, 39, was promoted to executive vice president and co-director was formerly a managing director at WANTED: J.H. Cohn: Larry Ziff, 45, was named executive vice president from managing of commercial banking from senior vice HSBC Securities (USA) Inc. principal and continues as a managing director. president. New York National Bank: Alfredo Vazquez ON-AIR TALENT Pierce Mattie Public Relations: Bids Trading: director at Cohn Wealth Management. Sonya Marybeth Shay, 41, joined as Assad, 50, was named president and STATION Carey C. Gertler, 37, was promoted to Hartland, 37, joined as executive vice senior managing director of sales and director. He had been a vice president at WRXP-FM 101.9 partner from senior manager. president. She was formerly director of marketing. She was formerly a senior vice Banco Popular North America. JOB DESCRIPTION Looking for public relations at Spiegel Brands Inc. president at Boston Equities Exchange. on-air personalities who can com- ADVERTISING & COMMUNICATIONS Quinn & Co. Public Relations: J.P. Morgan Private Client Services: HIGH TECH & NEW MEDIA Suzanne Joseph municate their passion for rock DeVries Public Relations: Stephanie Billet, 29, was promoted to partner from T. Kenney, 42, was promoted to chief Misys: Bill Pollie, 50, joined as managing Smirnov, 41, was promoted to president executive vice president. executive from national practice leader director. He had been president of North music while spinning a good from executive vice president. of investments. American operations at Neocase Software. playlist Michael Thomas, 43, was named chief FINANCE & INSURANCE Laurus-Valens: Kendall Raine, 48, joined Mycroft: Russell Schreiber, 47, was MOST IMPORTANT TASKS Host- Amalgamated Bank: financial officer. He was vice president Louis DeLuca, 60, as partner and senior managing director. appointed executive vice president of ing radio shows and writing online content and reviews CREDENTIALS NEEDED Five years of radio experience, famil- iarity with the New York area and local rock scene SALARY $40,000 to $50,000, based on experience RECRUITER Internal DOWNSIDE The risk of working for a startup station UPSIDE Having creative control over a radio show In February, Emmis Communica- tions, owner of 98.7 Kiss-FM and Hot 97, launched WRXP 101.9, an adult rock station heard in the tristate area. In a market where formatted playlists rule, the sta- tion, formerly CD 101.9, now fea- tures a mix of rock songs from different genres chosen by on-air personalities and staff. —ANDREW BUCK

operations. He had been a senior executive at Fair Isaac Corp. HOSPITALITY & TOURISM Heartland Brewery: Randy McNamara, 55, was appointed vice president of operations. He was formerly managing member of Gravy Hospitality, which he founded. JFK IAT: Janice Holden, 53, was promoted to chief commercial officer, a newly RARE DUPLEX PENTHOUSE created position, from vice president. LAW FOR THE COMPANY ON TOP Gersten Savage: Peter Gennuso, 37, was promoted to partner from associate. 23,000 Contiguous RSF Jones Day: Jeffrey Butler, 45, joined as partner. He had been a partner at Class A Of ce Space Kenyon & Kenyon. Henry Klehm, 49, joined as partner. He had been global head of compliance at · Prestigious High-Pro le Building Deutsche Bank. · Top Floors Available for the First Time in Decades Patterson Belknap Webb & Tyler: Daniel A. Lowenthal, 47, joined as partner. He · Breathtaking Panoramic Views was formerly a partner at Thelen Reid · 20S Ceilings on 49th Floor Brown Raysman & Steiner. Sonnenschein Nath & Rosenthal: John F. · Ideal Midtown Location Storz, 38, joined as partner. He had been senior counsel at Akin Gump Strauss www.780third.com Hauer & Feld. Winston & Strawn: Laura Swihart, 35, joined as partner. She was special counsel at Cadwalader Wickersham & Taft. REAL ESTATE Bovis Lend Lease Inc.: Anthony Marrone, 48, was promoted to senior vice president from vice president. FOR INFORMATION CONTACT: James Murphy, 59, was promoted to

Greg Smith James Clifford Jodi Pulice Andrew Wiener EXECUTIVE PROMOTIONS 212.445.1239 212.445.1232 212.445.1200 212.841.5088 The fastest way to get an announcement into Crain’s is to submit details online. Fill out the form at www.NewYorkBusiness.com/submit. The Executive Moves column is also available online. TIA-1002 Crains 8.125x10.indd 1 2/25/08 7:01:46 PM 50 | Crain’s New York Business | March 3, 2008 CNYB 03-03-08 A 51 2/28/2008 3:45 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape gnocchi accompanying roasted, visually stimulating and brim with older Rayuela a few blocks away give skin-on Spanish mackerel. Other an intriguing interplay of tastes and Allen Street a potent one-two des- notable appetizers ($12 to $18) in- textures. Slow-roasted pork belly is tination punch for new migrating clude terrines of guinea hen with sliced, caramelized and served with hordes of hungry people. smoked ham knuckle and foie gras, a purée of pears and sage, and roast- or rabbit paired with apple salad and ed parsnips, parsnip cream and COMMENTS? [email protected] violet-scented mustard. fenugreek syrup. Fluke is gently Caramelized bone marrow is a braised, then wrapped in prosciutto big seller. It is poached in a beef to add a smoky taste note. brisket and oxtail consommé,frozen A recent daily special was Tas- and then caramelized. Its presenta- manian sea trout, a mild fish grilled tion is completed with caviar, corni- with almond cream, haricots verts ROSENBERG chon gastrique and shallot purée. and Parma ham gastrique. Present- Sea scallops are lightly grilled and ed as sliced loin rather than scalop- & served with celery root cream and pine-style, honey-glazed veal sal- braised cipollini onions. Showing timbocca takes on a new look with ESTIS, P.C. the chef ’s whimsical side, a spright- baby carrots and sunchoke purée. ly salad is billed as Pickles, Leaves, Pastry chef Tiffany MacIsaac’s is pleased to Fruits, Herbs, Fungi, Vegetable. desserts ($12) also play a whimsical announce Similar shorthand is employed tune. It may sound like breakfast, with an entrée called Cabbage, Beef but sweet cream French toast with that and Onion. It translates as braised oatmeal ice cream, berry purée and rib eye and truffle butter-braised caramelized banana is a filling fi- cabbage stuffed into an onion for su- nale. And there’s whiskey in a tiny Samuel J. Reiser perb, layered flavors. vanilla shake sharing a plate with a All dishes are modest in size and rich chocolate-peanut butter tart and malted milk sorbet.Her passion fruit crème brûlée has proper tang has joined the Firm and even a sorbet and ice cream se- as a Partner lection gets extra oomph from a bed of shortbread crumbs. Mr. Vogt’s well-trained servers ❖ provide expert and attentive cosset-

buck ennis ing of Allen & Delancey guests. STAR CHEF: Neil Ferguson of Allen & Delancey, where food is served amid funky, fun One way around the excessive surroundings of exposed brick replete with candles, “family” pictures and other “found” objects. noise—usually happy in tone—is to 733 Third Avenue, dine early.The restaurant’s light lev- New York, NY 10017 els can and should be adjusted. The table height seems a bit high, or Telephone: 212-867-6000 seats low, for patrons in booths or Fax: 212-551-8484 New destination banquettes. www.RosenbergEstis.com ALLEN & This newcomer and the slightly DELANCEY at old crossroads 115 Allen St. (at Delancey Street) (212) 253-5400 www.allenanddelancey.net Allen & Delancey say chef Neil Ferguson and formida- ble operations chief Glenn Vogt into serves stylish American double duty. As Mr. Vogt says, “We CUISINE Modern American IT’S TAX on Lower East Side; now have a restaurant on the Lower WINES 90 choices, 13 by the East Side and one on the Upper, glass Upper West Side.” The trio plan TIME AND noise can intimidate three more in the city. DRESS No code Chef Ferguson’s stylish contem- NOISE LEVEL Moderate to very llen & delancey,a porary American cuisine is served loud bright new culinary light amid funky, fun surroundings of ex- WE’RE on the Lower East Side, posed brick replete with candles, PRICE RANGE $26-$30 was almost a fast-food books, “family” pictures and other WINE MARKUP 100%-300% joint. After the condo “found” objects. Jason Volenec of CREDIT CARDS READY Aconversion of a six-story building at RKIT Design builds on early mod- All major the busy corner, a national chain ernist themes of 1920 in the cozy bar RESERVATIONS Essential wanted the ground-floor site of a for- and 70-seat dining room.Lighting at HOURS Dinner, Mon.-Sat., FOR mer Salvation Army store. times is too subdued,and noise levels 6 p.m.-midnight, Sun., 5-11 p.m. A building resident reached in- almost intimidate when A&D is full, stead out to investor Richard H. which is most of the time. = Outstanding Friedberg, who revitalized Old- The reasons are immediately ob- = Excellent ACTION! stone Manor at Bear Mountain.Mr. vious as glossy and warm bacon buns = Very good Friedberg in turn pressed his hospi- brushed with butter and served with = Good tality teammates, ex-Gordon Ram- sea salt arrive. Bacon also flavors M&K BUSINESS HEROES In the real world, we’re CPAs. EXECUTIVE MOVES To our clients, we’re Superheroes.

senior vice president from vice from corporate managing director. executive director from vice president. president. Michael Leff, 39, was promoted to National Urban League: Cheryl F. The Bracha Group: Gilad Azaria, 32, was corporate managing director from McCants, 43, was named senior vice promoted to partner from vice president. managing director. president of marketing and Grubb & Ellis Co.: Wayne Van Aken, 36, Terra Holdings Inc.: Gregory J. Heym, 38, communications. She had been vice Marcum & Kliegman LLP was promoted to managing director was promoted to executive vice president president of marketing and brand from associate managing director. from senior vice president and continues management at Girl Scouts of the USA. Certified Public Accountants & Consultants Halstead Property: Fritz Frigan, 46, was as chief economist. Pine Brook Road Partners: Arnold L. www.MKLLP.com Chavkin, 56, joined as managing promoted to executive director of sales and 800.921.0777 leasing from director of sales and leasing. SERVICES director. He had been a director at Studley: John A. Johnson, 43, was Leveraging Investments in Creativity: Encore Energy Partners. NEW YORK MELVILLE GREENWICH GRAND CAYMAN promoted to senior managing director Judilee Reed, 37, was promoted to —sarah studley

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