20100125-NEWS--0001-NAT-CCI-CN_-- 1/22/2010 8:23 PM Page 1

REINVENTION INC. A photo essay on 7 small businesses that have changed with the times ® PAGE 13

INSIDE VOL. XXVI, NO. 4 WWW.CRAINSNEWYORK.COM JANUARY 25-31, 2010 PRICE: $3.00

TOP STORIES Olympians strain for sponsor dollars PAGE 2 Stronger signal at CBS Radio PAGE 3 Collapse of health reform could cost NY $4 billion a year PAGE 4 Sylvia’s of Harlem delivers soul food to your cubicle NYNY, PAGE 6 fred harperfred BUSINESS LIVES COLLISION COURSE New transit CEO. New labor chief. No money. Let the sparks fly

Workers Union Local 100 has a dif- The new MTA head,Jay Walder, nances have forced him to scale back BY DANIEL MASSEY ferent kind of fix-it job: uniting an faces a challenging repair job of his those ambitions and instead focus on organization racked by internal own. He began work in October, set pinching every penny to help plug a GOTHAM GIGS last month, John Samuelsen was strife and financial troubles in order on improving customer service and $400 million gap in the agency’s $12 wearing a hard hat and a safety vest, to fend off layoffs and work-rule bringing New York’s mass-transit billion operating budget. Bringing in the repairing tracks in the bowels of the changes promised by the Metropol- system into the 21st century. But “We have to assure the public Broadway crowds P. 21 subway system. Now,in suit and tie, itan Transportation Authority’s earlier this month, he acknowledged that we’re using every dollar we get G ANNE FISHER says the new president of Transport new chairman and chief executive. that the MTA’s deteriorating fi- See COLLISION on Page 20 businesses should have more fun P. 21 G MOVERS & SHAKERS Saks’Sadove talks about retail’s future P. 22 The French reconnection Landlords G GAEL GREENE sees Maialino advance P. 23 get hit by WHAT GAUL: When it closed in August, be- Jean Denoyer is Restaurateur is cause its landlord had other plans spending INDEX reopening his highly millions to for the building, the French J-51 fallout revamp a new brasserie was profitable.It was sus- popular, insanely East 63rd tained by its well-heeled cus- NEIGHBORHOOD JOURNAL ______5 Street location. tomers—including celebrities like SMALL BUSINESS ______profitable La Goulue Tenants seek rent 7 Kim Cattrall, Jude Law and Bruce THE INSIDER ______8 Springsteen as well as the privi- rebates in buildings REAL ESTATE DEALS PLUS BY LISA FICKENSCHER ______9 reopen. leged residents of the neighbor- that got tax breaks OPINION ______11 “New hood—even through an economic e-mail messages from despon- York is not downturn. FOR THE RECORD ______17 dent patrons missing their favorite the same “La Goulue has been a very suc- BY AMANDA FUNG CLASSIFIEDS ______18 restaurant started to arrive last without La Goulue,” wrote one. cessful restaurant all these years,” EXECUTIVE MOVES ______21 summer. Soon, more than 400 “Hurry and open again.” says its founder and co-owner,Jean the long-awaited aftershocks of THE WEEK AHEAD ______23 people had implored the owners of Most restaurants that close Denoyer. “It would be a shame to last October’s Stuyvesant Town the Upper East Side brasserie to these days are facing financial ruin let it die.” and Peter Cooper Village court rul- and have little hope of an encore. Last month, Mr. Denoyer ing that landlords receiving certain But La Goulue, a dining institu- pledged his commitment to the tax breaks cannot deregulate rents 04

5 tion in the city for 36 years, is dif- brasserie, signing a lease to reopen are finally beginning to be felt. ferent. See EATERY on Page 12 Last week, a group of tenants at Lenox Terrace in Harlem—home ELECTRONIC EDITION to Gov. David Paterson and Rep. BUSINESS LIST NY AREA’S LARGEST Charles Rangel, among others— filed a lawsuit against the owner of

NEWSPAPER EXECUTIVE RECRUITING FIRMS PAGE 16 See LANDLORDS on Page 20 71486 01068 0 20100125-NEWS--0002,0003-NAT-CCI-CN_-- 1/22/2010 8:22 PM Page 1

IN BRIEF ANGLO IRISH BANK CORP. WAS GRANTED THE RIGHT TO FORECLOSE ON RECTOR SQUARE, Olympic athletes o Yair Levy’s ill-fated 303-unit condo conversion in Battery Park City, according to court documents filed Jan. 20.The residential tower will be the second property that the beleaguered developer has lost in less than two weeks. Last year, Mr. Levy’s development firm, YL Real Estate Developers, defaulted on its $165 million mortgage on Rector Square. A week earlier, the U.S. Bankruptcy Court of the Southern District of New York granted Garrison Special Opportunities Fund the right to proceed with its foreclosure of Mr. Levy’s Park Columbus, a 95-unit condo conversion on West 87th Street. Mr. Levy had defaulted on the project’s $20 million loan. DONATIONS FOR THE HAITI RELIEF EFFORT CONTINUE TO POUR INTO AID ORGANIZATIONS, far exceeding the amounts raised for the 2004 UPHILL CLIMB? Asian tsunami, although overall, the amount of Skeleton racer John money donated by Americans in the same time Daly jokes that his period for the victims of Hurricane Katrina was sponsors are Mom greater. So far, donors have contributed more and Dad. than $355 million to aid for Haiti through 35 U.S. nonprofit groups, according to the Chronicle of Philanthropy. In the eight days following the flooding in New Orleans in 2005, Americans gave around $580 million. In the nine days following the tsunami, they donated $163 million. By Friday, the Red Cross had raised $147 million, 60% of it from the Web.
BY THE NUMBERS

Weekly shift of the city’s economy

WHAT A DIFFERENCE a week makes. A report   showed the city’s jobless rate at a 17-year high in December. Obama wants to limit lucrative risk- taking on Wall Street, and stocks have tanked. +2.3% -4.6% $810,000 RISE in NY metro BLOOMBERG/ MEDIAN PRICE area’s consumer CRAIN’S NY stock of Manhattan price index in index weekly condo in 4Q, 2009; up 0.02% change down 10% from in December a year earlier NO JOKE: Trevor Source: Bureau of Source: Prudential Marsicano’s speed Labor Statistics Douglas Elliman and skating team gained an Miller Samuel Inc. unlikely benefactor in comedian Stephen POSITIVE ENDING: Venture capital investments in the Colbert. NYC metro area ended the year with the highest quarterly total in over a year. photos: newscom, gettyimages Amount invested (in millions) $557.2 $567.2 $463.6 $466.1 $414.8 $387.2 $275.7 $259.2 Landlords add greenery to lure t Once-desolate rooftops lords are landscaping set- 1Q ’08 2Q ’08 3Q ’08 4Q ’08 1Q ’09 2Q ’09 3Q ’09 4Q ’09 backs and rooftops to Some figures are preliminary. and setbacks reborn as transform formerly deso- Source: PricewaterhouseCoopers and the National Venture Capital Association late spaces into alfresco handsome private oases amenities. In headier CORRECTIONS days, landlords did it to The Port Authority of New York and New Jersey estimates that BY THERESA AGOVINO raise rents on offices at- 1 World Trade Center will be completed in 2013 and the transportation hub in 2014. Towers 2 and 3 are under a lease tached to private outdoor agreement that calls for their completion in 2014. These dates the view from the 3,300-square-foot space by as much as 15% were misstated in a Jan. 18 story on the city’s largest rooftop patio at 160 Fifth Ave. appeals to per square foot. These development projects. The story also should have made clear architecture buffs and urban voyeurs alike. days, such premiums are that the city’s Economic Development Corp. has no plans to use eminent domain in the immediate future to seize land for the The upper reaches of the landmarked Em- rare, but landlords have redevelopment of Willets Point, Queens. pire State,Flatiron and Clock Tower build- found a fresh rationale. ings dominate the vista from one side.Turn They are embracing out-

vol. xxvi, no. 4, january 25, 2010—Crain’s New York Business (issn around, and you’re peering into the win- buck ennis door space as a perk that 8756-789x) is published weekly, except for combined issues June dows of the office building next door. SO NEW YORK: RFR’s Richard Farley sees city ambience as selling point. can help their properties 28/July 5, Aug. 30/Sept. 6, and Dec. 20/Dec. 27 by Crain Com- munications Inc., 711 Third Ave., New York, NY 10017. Periodicals “It’s so New York,” says Richard Farley, to stand out. postage paid at New York, N.Y., and additional mailing offices. director of leasing at RFR Realty Richard “In this economy, any- Postmaster: Send address changes to: Crain’s New York Business, Farley,the building’s owner,as he stands in be open to all tenants—has helped RFR thing that landlords can do to add value is Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111.Fax the middle of the nearly-completed space lease up half the building which is nearing a plus,” says Mark Boisi, chairman of Col- (313) 446-6777.$3.00 a copy, $59.79 one year, $109.79 two years. bordered in boxwood shrubs. the end of a two-year, $30 million gut ren- liers ABR. (GST No. 13676-0444-RT) ©Entire contents copyright 2010 by Crain Communications Inc. Despite rising vacancy rates and lack- ovation. Vornado Realty Trust, one of the city’s All rights reserved. luster tenant demand all across the city, Eager for their properties to stand out largest landlords,is among those doing just that garden—and the promise that it will in a crowded market, more and more land- that. It is turning three setbacks into ter-

2 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0002,0003-NAT-CCI-CN_-- 1/22/2010 8:22 PM Page 2

NICK CANNON, a rapper and TV personality, joins s on thin ice 92.3 Now FM. Downturn leaves teams struggling for sponsorships

from Lake Placid, N.Y., when the BY HILARY POTKEWITZ boy started competing at age 16. “Would it be nice if skeleton had the financial crisis has forced the same kind of recognition and countless people to put their big money that skiing does? Sure. But LONGER SHOT: Slowing offers from dreams on ice, but for the athletes it’ll come with time. What John ski companies training for next month’s Winter does isn’t a sport that an average makes it tougher for Olympics in Vancouver, waiting person can do.” biathlon competitor out the recession The power of Tim Burke. was never an op- parental pride tion. And so, the aside, Mom and dozen New York- Dad are no match B? John ers set to compete for the skeleton his next month on team’s former om Team USA have sponsors, Speedo been struggling and United Air- to come up with lines, both of enough silver and which dropped gold coinage to out last year. even get them to “The economic the Games, let situation has total- CBS Radio finds alone give them a ly affected us,”says shot at a medal. the younger Mr. “Right now BIG SUPPORTER: Stephen Colbert Daly, who worked my biggest ‘spon- appeared on Sports Illustrated’s cover. at the Big Moun- clearer signal sors’are Mom and tain Deli in Lake Dad,” jokes John Placid last summer Daly, a 24-year-old skeleton racer for extra cash. “It’s harder to find Recovers from from Smithtown, L.I. money, and you need to do a lot Skeleton racing—where fear- more to get it.” programming flops less athletes like Mr. Daly hurtle For sports like skiing and ice themselves headfirst down an icy hockey, which have wide appeal early in the decade track on a steel toboggan reaching and a built-in base of fans who also 80 miles per hour—can get expen- participate, there’s more money to BY MATTHEW FLAMM SLIPPERY sive. The sleds can cost around go around. But for more obscure SLOPE: Erin $7,500 (used), and a racer needs at events like skeleton, luge and radio industry bloggers need to Hamlin’s luge least one for practice and another biathlon, even New York state’s find a new whipping boy. CBS Ra- team suffered for competition, explains Jim Daly, proud Lake Placid tradition can’t dio, once scorned for killing its New when Verizon’s John’s father, a retired New York trump the financial crisis. York oldies station, losing Howard funding dropped. Fire Department paramedic. The The U.S. luge team all but lost Stern to satellite radio and running blades for the sled, called runners, its biggest sponsor,Verizon,whose legendary rock station WNEW- DAN MASON cost $1,000 a pop, and a racer is contribution plunged last year to FM into the ground, has turned the turned the supposed to have three sets at hand. $125,000 from about $1 million as dial on its past. struggling unit “I’m not an expert in sleds; I’m its contract expired. USA Luge The division of CBS Corp. had a around. just an expert in paying for them,” normally has an annual budget of very good 2009.Not only did it have says the elder Mr. Daly, who start- $3 million to handle all athletes’ the top-billing station in the coun- ed driving his son back and forth See NY OLYMPIANS on Page 12 try’s largest market—all-news FM format in 2005. WCBS-AM—but its other New And all-talk Free FM—Mr. York stations were either firing on Hollander’s answer to what to do all cylinders or moving in the right with K-Rock after Mr.Stern left his $100 to $200 a square foot to build had originally forecast back in direction. flagship station—was struggling. at some buildings, at others the headier times, the first two of the In December, there were even Today, Boomer & Carton, which e tenants price can be prohibitive. In order three tenants who have signed on signs of growth for the troubled ra- replaced Imus in the Morning, beats for tenants to use a rooftop, it must leased offices that boast access to a dio industry, as the New York mar- the old show hands down among its races at 330 Madison Ave., having have at least two exits, notes Mr. private terrace. ketplace posted a 4% revenue gain, target audience of men 25 to 54 recently completed similar projects Shannon, who points out that “I’d love to tell you we were get- according to the confidential Miller years old. at two of its other Manhattan office adding a second one can be costly. ting a premium rent [on the terrace Kaplan audit. Insiders are now towers. Meanwhile, 200 Fifth Similarly, rooftop water tanks and space], but we’re not,” says David crossing their fingers in hopes of a Oldies are goodies Ave., 160 Fifth Ave. and 545 air conditioners can hog too much Sigman, senior vice present and modest turnaround in 2010. wcbs-fm, brought back to life with Madison all boast tenant-accessi- room or produce too much noise to principal at LCOR. “But they are For executives at CBS Radio, a “greatest hits” version of oldies, is ble, spruced-up outdoor space as a create a pleasant environment. bringing in a lot more interest.” there’s the added bonus of not hav- the second-highest-rated station in result of top-to-bottom overhauls. Similarly,David Falk, president ing to put out fires anymore. the market, according to Arbitron. Renovations at 100 Park Ave. Roof please of New York tristate region at “It’s like night and day,” says And WXRK,after trying a return to and 444 Madison Ave. also created owners doing gut renovations of Newmark Knight Frank, expects Chief Executive Dan Mason of the K-Rock, is making progress as Top terraces,and a trio of new buildings their properties or building new the rooftop patio and terraces at the company he took over in March 40 station 92.3 Now FM. at 510 Madison Ave., 11 Times ones can simply design around building he represents at 15 Little 2007. “We couldn’t be more proud “CBS Radio had really lost its Square and 15 Little West 12th St. such problems. For example, when West 12th St. will prove to have of every [station].” way,” says Robert Unmacht of me- also offer outdoor space. RFR retooled 160 Fifth Ave.,it ex- catnip-like qualities for a fashion He couldn’t have said that when dia consulting firm iN3 Partners. “There’s not a building in the tended the elevator shaft by a full company or other image-conscious he started. “[Mr. Mason] brought it back.” city that isn’t at least considering story, bringing it all the way to the tenant who wants to be in the hip Don Imus had just set off a me- To top off 2009, WCBS-AM, fixing up a roof or setback,” says roof. Likewise, when landlord meatpacking district.He notes that dia firestorm around sports-talk which broadcasts the Yankees Dan Shannon, principal at Moed LCOR Inc.gutted 545 Madison,it the 8,000-square-foot rooftop powerhouse WFAN-AM with games, had the benefit of a World de Armas & Shannon, the archi- added three terraces to the two that space will only be available to the racist remarks about the Rutgers Series. The extraordinarily busy tectural firm that designed the roof had been original features in the tenant that leases the top floor. women’s basketball team. news cycle also helped. Sister news at 160 Fifth Ave. building. “This is a space for someone Oldies fans were still fuming at station 1010 WINS was the mar- But terraces are not for every- That effort already seems to be who wants to make a statement,” the decision by Mr. Mason’s prede- ket’s No. 2 biller. one.While terraces can be relative- paying off. While the building is says Mr. Falk. “It is a real ego fea- cessor, Joel Hollander, to switch But the radio marketplace still ly inexpensive, costing as little as leasing up more slowly than LCOR ture.”
WCBS-FM to the automated Jack See CBS RADIO on Page 20

January 25, 2010 | Crain’s New York Business | 3 20100125-NEWS--0004-NAT-CCI-CN_-- 1/22/2010 8:12 PM Page 1

Fate of key fed health subsidy IN THE MARKETS uncertain after Senate upset by Aaron Elstein

NY could lose “Going forward,the most urgent ey for Medicaid so far has saved issue in New York is the Federal Gov.David Paterson from having to $1 billion per quarter matching rate for Medicaid,” says make even deeper cuts to health care Will traders say, ‘Banks without extension James Tallon, president of the Unit- in his proposed budget. ed Hospital Fund, a nonprofit think for the memories?’ tank in Manhattan. 18-month extension BY BARBARA BENSON In recent months, New York’s the best-case scenario, says Mr. ne likely result of the Obama Congressional delegation had Tallon, would be for lawmakers in administration’s crackdown on following last week’s loss of a pressed for an extension of the Washington to extend FMAP for key Senate seat—and Democrats’ enhanced FMAP rate. The House another 18 months, benefiting all Orisky trading and investing by big filibuster-proof supermajority— extended the measure for six states, not just New York. banks: a flood of traders fleeing those federal health-reform negotiations months, while the Senate ignored Of course,simply throwing more institutions. J.P. Morgan Chase & Co., for went back to the drawing board. the issue altogether. federal money at states won’t solve one, could be vulnerable. Analysts at And New York health care experts Now talk about extending the long-term problems with the are once again worrying about the FMAP is in limbo along with fed- health care system. CreditSights say the bank generated fate of an extension of a key federal Mr. Tallon notes that the eco- about $9.8 billion last year—10% of its subsidy that is a critical part of any nomic case for national health re- revenue—from trading and private reform bill. Unless Washington The issue is a form didn’t change just because the takes action, New York could lose Democrats lost a Senate seat. equity investing, the very activities the $1 billion per quarter in federal aid, huge concern Spending on health care in the U.S. White House is targeting. Citigroup Inc. starting on Dec. 31. averaged $7,290 per person in generated 5% of its revenue this way. for hospitals 2006, compared with less than patrick mcmullan Medicaid money $4,000 in Europe, according to a Of course, banks are probably million in revenue for Deutsche the money comes from a boost in and unions study by the Commonwealth better off without most of their gun- Bank as subprime mortgages fell health spending that was part of the Fund. Thirty years ago, per capita slingers, what with their unfortu- apart, according to Bloomberg American Recovery and Reinvest- spending in the U.S. and Europe nate habit of losing huge sums every News, and the wager proved even ment Act of 2009. It provided a were roughly the same. few years. ( J.P. Morgan suffered a more lucrative as the rot spread. temporary 27-month increase in That disparity—and the fact $10.7 billion loss from these so- Early last year, Mr. Kennedy,who Federal Medical Assistance Per- that the U.S.now spends 16% of its called “principal transactions” in specializes in commercial mortgage- centages, known as FMAP. eral reform efforts, opening a huge gross domestic product on health 2008.) But a handful of these folks backed securities, began to bet that The stimulus upped the portion potential hole in next year’s state care as opposed to Germany’s 10%, are real assets for banks. the market had bottomed out,people of Medicaid spending paid for by health budget. for example—underscores why it is Those in the latter category in- familiar with the matter say. Indeed, Washington for the period begin- “The most immediate issue,”Mr. so important to rein in health care clude Justin Kennedy (above), former the sector started to turn around in ning Oct. 1, 2008, and ending Dec. Tallon says, “is to make sure New costs. global head of real estate capital the spring,when the Federal Reserve 31, 2010. New York’s enhanced York doesn’t fall off the cliff.” “Politics trumped a really moder- markets at Deutsche Bank in New began buying commercial mortgage- FMAP percentage is 61%, or The issue is a huge concern for ate, incremental proposal that York,who left last month to start his backed securities from banks that roughly $4 billion a year, a huge New York hospitals and labor would have made big changes over own hedge fund after a reportedly needed cash. Thanks in part to Mr. boost over its usual rate of 50%. unions.The enhanced federal mon- time,” says Mr. Tallon.
spectacular 2008 and 2009. Kennedy’s savvy trading, Deutsche “He’s the smartest trader out Bank was one of the few global banks there,” says Gustavo Dolfino, a sen- that didn’t need government bailout ior managing director at headhunt- money, though it did collect $12 bil- ing firm Accretive Solutions who lion when the feds rescued AIG and has recruited staffers from Mr. paid off the insurer’s trading partners Kennedy’s operation. at 100 cents on the dollar. Mr. Kennedy—whose father is Mr. Kennedy left Deutsche Bank Supreme Court Justice Anthony at the end of last year because man- Kennedy, by the way—declined to agement in Frankfurt, amid pressure comment.The 45-year-old made his from European regulators, dialed reputation on Wall Street by being down risk, a person familiar with the part of a team with the foresight to matter says.While he reaped tens of short mortgages in 2006. Perfect millions for his work at Deutsche timing. In just the first half of 2007, Bank,he’s sure to make much,much the bet generated as much as $540 more at a hedge fund. Coke can thank NY guv for lost stock fizz after gov. david paterson un- lowed by Wall Street’s chart-watch- veiled his plan to institute a state tax ers, otherwise known as technical on soda last Wednesday, shares in analysts.When a stock falls below its COLLIERS ABR WILL BE REAL MARKET KNOWLEDGE. Coca-Cola Co. slipped by 2%.They fell average price over the past few another 2% on Thursday before weeks, it has, in Street-speak, CASSIDY TURLEY. REAL CONNECTIONS. stabilizing on Friday. No big broken a “support level,” which deal, right? Think again. may mean the price is poised to REAL PASSION. “Anyone see Coke slip below fall further—maybe much fur- its 50-day moving average yes- ther. (Or maybe not. The 100- REAL RESULTS. terday?” queried David Rosen- and 200-day moving averages berg, chief economist and are important signposts, too.) strategist at brokerage Gluskin Assuming investors got it We are a national team of dedicated commercial real estate professionals with a Sheff, in a report last Thursday. right, and Coke’s earnings get history of 100 years of successful client relationships which include $15 billion in For those who haven’t the dinged by about 3% due to the annual transactions, 420 million square feet of managed space and 22,000 Corporate faintest idea of what Mr. Rosenberg tax, that suggests an approximately Services locations. Our world-class expertise enables us to deliver integrated, tailored is talking about, the 50-day moving $240 million decline in the compa- solutions around the globe. Our knowledge of local markets and deep industry
connections allow us to achieve superior results. We are advocates for our clients average is a price level closely fol- ny’s expected profits this year. and passionate about their long-term success. We are Cassidy Turley. To learn more, visit www.cassidyturley.com or call 212.758.0800. THE INCREASE IN GOLDMAN SACHS’ TAX BILL last year. The firm set aside $6.4 billion for income taxes CAPITAL MARKETS CORPORATE SERVICES LEASING & TENANT REPRESENTATION PROJECT & DEVELOPMENT SERVICES PROPERTY MANAGEMENT 46,000% in 2009, compared with just $14 million for the prior © 2010 Cassidy Turley. year, when asset write-downs and other real and paper losses enabled the firm to pay barely any taxes. Goldman generated $13.4 billion in net earnings last year.

4 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0005-NAT-CCI-CN_-- 1/22/2010 1:24 PM Page 1

NEIGHBORHOOD JOURNAL Haitian enclave in Queens pitches in

week, she flew to the Dominican “The basement is packed. The what their cus- Businesses scramble Republic and boarded a bus to storage room is packed. You should tomers’ needs are, to locate missing, make the long overland journey to see the hallway,” says Mr. Charlot. and what the mer- Haiti to deliver the goods she’d “It’s quite sad to tell people we can’t chants’ needs are gather up supplies; collected. take any more, but we really can’t when it comes to a flood of donations Duch Travel Agency, which has take any more.” helping family and long offered goods-shipping servic- friends back in Haiti. newscom es to Haiti, has been inundated with Coordinating the response “We need to put GLOBAL VILLAGE: The disaster in Haiti has galvanized the world. BY HILARY POTKEWITZ donations of goods and clothing mr.jemmott’s organization is now together a plan with since the disaster struck.But with no trying to coordinate various individ- the Haitian busi- t duch travel agency commercial cargo flights on which ual efforts. He’s going door to door nesses here, to see what we can do as businesses here will be very involved in Cambria Heights, to send the parcels, the agency has along Linden Boulevard, talking to a group,”he says,adding,“I envision with the from-the-ground-up effort Queens, the phone has had to start turning away donations. Haitian business owners to find out that for the next several years, the down there.”
been ringing off the hook. The agency, Awhich in happier times specializes in Haitian vacations, is busier than ever these days fielding calls from area residents trying to book flights to help out or to join the search for loved ones. But since no commercial airlines are flying to Port-au-Prince, all We turn strategy into results travel agent Philippe Charlot can do is cross his fingers and book them on flights that are days or weeks away. for New York City businesses. “Delta and American Airlines told me that ‘maybe’flights will start again Tuesday,” says Mr. Charlot. “I can see the availability in the [reser- vation] system, and I can book the Katz Dochtermann Gramercy tickets, but even the airlines say & Epstein Inc. Surgery Center they’re not sure if the flights will New York, NY New York, NY happen or not.” In Cambria Heights, where one $1,700,000 $3,000,000 in four businesses along busy Lin- Owner Occupied Commercial Working Capital Line den Boulevard are Haitian-owned, Real Estate of Credit business as usual came to a near standstill when news of the devas- Sole Lender Sole Bank/Lead Lender tating earthquake broke. Residents struggled to check on relatives, in- June 2009 July 2009 formation was slow to come, and all people could do was wait. “For the first two days, everyone Drucker Genuth was in shock,” says Kevin Jemmott, Ferrara Bakery Augenstein & Kasow president of the Cambria Heights & Café Inc MDs PC Development Corp. “Things are New York, NY just now starting to come together.” Rockville Centre, NY And how. $2,800,000 Haitian Americans United for Commercial Mortgage $1,000,000 Construction Loan Progress, a cultural center that serves those of Caribbean descent, has extended its hours during the Sole Bank/Lead Lender Sole Lender crisis. Even with staff working around the clock to help area resi- April 2009 June 2009 dents find relatives, work through immigration paperwork and gather donations, the center is swamped with new requests every day. Let’s talk about what we can do for yours. Can’t wire money Bank of America Merrill Lynch understands what drives business in New York City. Our local meanwhile, an employee at the client managers offer proven experience in your market and tailored financial solutions that Chase branch on Linden Boulevard match your unique goals. Fresh thinking. Global strength. Personalized service. That’s our reports that dozens of customers in- quire daily about wiring money to commitment to you. Haiti, only to be told that the bank- ing system there isn’t capable of re- Draw on the strength of Bank of America Merrill Lynch. ceiving right now. Chase is advising people that so far, there’s been no Contact Thomas Carley at 1.646.855.2807 to learn more. word on when money transfer serv- ices will be back up and running. With so many links between Haiti and the outside world now ei- ther severed or badly damaged, in- dividual business owners in Cam- bria Heights took matters into their own hands. Dr. Marie Dupiton, who runs Camp Kids Pediatrics, a local pe- diatric clinic, started gathering “ Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates clothes and first aid supplies there of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker- and at local women’s fitness center dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. Ener-G, which she owns. Last ©2010 Bank of America Corporation.

January 25, 2010 | Crain’s New York Business | 5 20100125-NEWS--0006-NAT-CCI-CN_-- 1/22/2010 5:44 PM Page 1

NEW YORK,NEW YORK edited by Valerie Block

Soul food coming to your door etting a fried-chicken-and-biscuits fix has never been easier. G Sylvia’s Restaurant, the soul food mecca, is starting residential delivery next month for the first time in its 48-year history.The service kicked off in December when Sylvia’s began curbside delivery for customers who drive by the eatery on West 126th Street. “We’ve never gotten the amount of calls for delivery that we did last year,” explains Trenness Woods-Black, granddaughter of Sylvia Woods, who founded the restaurant. The eatery will fulfill orders north to 145th Street and south to 110th Street, though deep-pocketed corporate clients get special treatment. Last week, Citigroup Chief bloomberg news Executive Vikram Pandit ordered lunch for 40 people at his midtown offices, says Ms. Woods-Black. “He’s a new Sylvia’s fan,” she adds. Paper takes Stockholm-based Metro her name in lights on Broadway. International sold the money- CB Richard Ellis Inc. extramarital ads losing U.S. Metro papers to Seabay surprised its chief executive of the Media Holdings last spring. Calls New York tristate region by ashleymadison.com—the to Metro’s New York offices were renting a Times Square billboard dating site for married people— not returned. to congratulate her on being has finally found a newspaper that named chairman of the will take its advertising money: powerful Real Estate Metro, which has editions in New Social Board of New York. York, Philadelphia and Boston. spending Ms.Tighe Ads on the back page of the (left), the first

s free dailies started running Jan. 11 wanna make a bundle? i woman to run the n n and will appear off and on at least Social finance site Bundle.com e association in its ck through Feb. 13, or “Mistress lets users compare their spending bu 113-year history, saw Day,” says founder and Chief habits with those of similar people. the tribute when she Executive Noel Biderman. The site, which filters by age walked into a cocktail party in her The ads mark the first print group, gender, marital status or honor on the top floor of 1540 campaign for the controversial location, made its debut last week. Broadway. Many of the city’s Canadian site, which is often “Engagement with money has luminaries turned out for the accused of promoting infidelity. It always been dealt with in an high-wattage event, including usually gets publicity by having its extremely serious way; it’s almost developers Douglas Durst, Bill Rudin, ads turned down. like going to the doctor,” says Larry Silverstein and Rob Speyer and “At one point or another, we’ve Jaidev Shergill, chief executive of the city’s archbishop, Timothy Dolan. reached out to every paper in the Bundle and a former executive at “When I was told there was a Citigroup. “This site basically uses surprise for me, I thought they old behaviors—talking to other were giving me a watch or people like you and learning from something,” says Ms.Tighe. “The other people like you—to make sign was just spectacular.” money management a little more fun.” Contributors:Theresa Agovino, The site reportedly got upward Kira Bindrim, Lisa Fickenscher, of $5 million from backers Matthew Flamm Citigroup, Microsoft and Morningstar, and features editorial content provided FILM FOCUSED by MSN Money and Morningstar. On staff are NEW YORK made the Mark Armstrong, former cut on MovieMaker news director for magazine’s annual list People.com, and Jane of 10 best cities for Paskin, previously a independent reporter with SmartMoney moviemakers. It’s land,” Mr. Biderman says. and Money. good thing that Gov. “They’ve almost all said no.” Paterson extended The exception was the New those film industry York Post, which ran an open letter Glowing tax credits. from Mr. Biderman to former endorsement Gov. Eliot Spitzer urging him to use 1. Albuquerque, N.M. the site after he got caught real estate hot shot 2. Los Angeles cavorting with a high-end hooker. Mary Ann Tighe starred in The Metro campaign has been productions at Cardinal 3. Shreveport, La. a big success. “In just the past few Spellman High School in 4. New York weeks, New York has become our the Bronx as a teen. Last No. 1 market,” Mr. Biderman week, she realized a long- 5. Austin, Texas says. dormant dream: She saw

6 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0007-NAT-CCI-CN_-- 1/21/2010 7:53 PM Page 1

SMALL BUSINESS DOWNLOAD LOWDOWN Various vendors’ apps give iPhone- iPhone lures mobile entrepreneurs toting entrepreneurs new capabilities. CREDIT CARD TERMINAL Inner Fence/on sale for 99¢ Apple takes on of her office. iPhone/laptop hybrid, this week. Accept credit card payments. The BlackBerry PRACTICAL IN PINK: “Think of an iPhone that’s about BUSINESS CARD READER CrackBerry with has long had a lock NJ interior decorator six times the size of an iPhone,” says Shape Services/$5.99 on the local business Courtney Cachet Bill French,senior editor of Web site Take photos of business cards and apropos apps; tablet depends on the market for smart- iPhone during daily iPhoneCTO,which covers the use of have the information automatically device comes next phones: It’s nick- visits to the city. the tool in corporate environments. transferred into contact lists. named “CrackBer- “That gets closer to feeling like you IXPENSEIT ry” for a reason. But could actually run your business.” FYI Mobileware Inc./$4.99 BY KIRA BINDRIM Apple Inc.’s com- The iPhone’s size is not its only Enter expenses manually or photo- peting iPhone— limitation. graph receipts to generate reports; hen interior whose share of the New York has been plagued with track expenditures and keep a bud- decorator Court- overall smartphone reports of shoddy service from sole get; export reports to Excel files. ney Cachet met a market is 18% and service provider AT&T. Plus, all EVERNOTE client for lunch growing—is attract- iPhone users are at the mercy of bat- Evernote Corp./Free last month, her ing many supermo- tery life: Apple pegs it at around five Create and organize memos from first stop was the bar—but she bile entrepreneurs, buck ennis hours of talk time or Internet use, so text, images and voice recordings to W access via phone or online. wasn’t getting a glass of wine.Rather, thanks to a series of apps that let styles for celebrity clients,snap pho- heavy users have to keep a charger she asked the bartender if he might users accept credit cards,access their tos,check e-mail and (a guilty pleas- (and a friendly bartender) on hand. QUICKOFFICE MOBILE SUITE be willing to charge her iPhone. home desktops, even track flights. ure) play games such as Flight Con- While battery packs, portable key- Quickoffice Inc./$9.99 “He looked at me for a second Entrepreneurs aren’t using the trol and checkers. boards and other accessories are Read, edit and share Word and Excel files and attachments. and then said, ‘Sure, no problem,’ ” iPhone’s apps to run their business- available, few people want to tote she says. “Twenty minutes later, I es entirely, as Apple’s latest big ad- Not the day-to-day choice around a bagful of extras. FLIGHTTRACK PRO was back up and running.” vertising push hints is possible. But the magic does have limits when it Furthermore, AT&T doesn’t of- Mobiata/$9.99 Ms. Cachet, a New Jersey resi- they do rely on their tiny silver wiz- comes to the intensive work of run- fer insurance on the iPhone, which Track itineraries based on arrival times and airport delays; check gate num- dent who commutes to the city most ards,as hairstylist Oscar Blandi calls ning a business day to day. Most costs upward of $100 with a two-year bers; search for alternate schedules. days,uses the gadget to check e-mail, the phones. business owners who can be in their contract or $400-plus on its own. scan documents and take photo- Mr.Blandi,who spends less than offices still choose the comforts of a In a hopeful sign for the mobile graphs.She depends on the freedom half his time in the midtown salon desktop keyboard and the screen of office, Apple is always making im- that the iPhone gives her to stay out he owns, uses his iPhone to research a standard laptop, which is about 10 provements.And people are finding her schedule or read e-mail even times larger than an iPhone’s. that in some circumstances,using the when her home computer is available. To sign up for Crain’s twice-weekly SMALL BUSINESS NEWSLETTER, go Apple has acknowledged the size iPhone is preferable to being tied to “I wasn’t relying on the iPhone by to www.crainsnewyork.com/smallbiz problem. The company is expected a computer. Ms. Cachet says she choice at first, but then I realized to unveil its tablet device, a 10-inch sometimes uses her phone to check how easy it was,” she says.

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January 25, 2010 | Crain’s New York Business | 7 20100125-NEWS--0008-NAT-CCI-CN_-- 1/22/2010 7:48 PM Page 1

2%. Mr. Paterson proposed a 5% reduction in school aid last week. FALLOUT Massachusetts repeat? THE INSIDER Senate Minority Leader Dean Skelos says Scott Brown’s victory in the Still hope for Massachusetts Senate election Tuesday bodes well for New York by Erik Engquist and Daniel Massey charter schools Republicans’ chances to recapture the state Senate and reclaim some congressional seats. an insider says the Legislature “In 2010, you’re going to see five or six could still lift the statewide cap on pickups in our congressional delegation, and charter schools in time to boost New you’re going to see us win back the Senate York’s application for federal Race to majority with a comfortable margin,” he says. the Top funds.The change would not “The message from Massachusetts, from Nassau Guv’s budget plan affect the application’s score because County where Tom Suozzi lost, and from the submission deadline was last Westchester where Andy Spano lost, is people week, but the Obama are tired of the arrogance of one-party rule and administration would be impressed pulls punches they want to restore some balance in by the gesture, the source says. government.” Democrats hold 27 of New York’s The Assembly and the Senate 29 House seats and 32 of 62 state Senate hile reviews for Gov. David Paterson’s failed to agree on a bill to raise or eliminate the limit of 200 charter seats. Dean Skelos budget proposal have been positive— schools because of differences over Mr. Suozzi and Mr. Spano lost their county except from those who’d get less money cohabitation of public school space. executive posts in the November election. Some than they currently do—some critics say he Rhetoric between the two sides analysts attribute their defeats more to dissatisfaction with incumbents than pulled his punches. became heated, but the insider says with Democrats. Others cite low turnout among Democratic or pro-incumbent they are not far apart. voters. WIf Mr. Paterson (right) wanted a budget that Democratic leaders dismiss Mr. Skelos’ predictions. Polls show that 70% holds the line on spending, he should have of New Yorkers oppose Republican control of the state Senate, says Josh proposed an overall reduction, not a 0.9% Mayor battles Cherwin, executive director of the Democratic Senate Campaign Committee. increase, says E.J. McMahon, director of the third-term fatigue “Even as the Republicans enjoyed multimillion-dollar fundraising advantages, they lost at least one seat in each of the last four general and special election Empire Center for New York State Policy. in his ninth annual “State of cycles,” Mr. Cherwin says. “This year, as their fundraising has collapsed, will Past governors’ experiences provide a guideline. the City” speech last week, be no exception.” George Pataki proposed a 4% spending cut Mayor Michael Bloomberg Mr. Skelos says Senate Republicans’ message will be similar to that of Mr. early in his tenure and ultimately held the announced an agency Brown, who defeated lackluster Democrat Martha Coakley in a special consolidation and a election for Ted Kennedy’s former seat. Legislature to a 1% increase. renewed emphasis on “Our strategy is very simple, and it’s a version of what Brown talked about: Mario Cuomo once proposed a 10% cut helping at-risk youth and taxes, spending and no real job creation” by Democrats, Mr. Skelos says. He in school aid and emerged from small businesses. But if his blames them for raising taxes last year by $11 billion and hiking spending by aim was to dash predictions negotiations with a 3% cut. Mr. Pataki $13 billion. (About $6 billion was federal stimulus money.) of third-term fatigue, he fell Mr. Cherwin responds that Senate Republicans presided over “44 years of tried for an 8% education cut short. deals, deficits and dysfunction.” and won a deal that held Mr. Bloomberg’s several spending flat. On both attempts at humor fell flat. newscom He described the troubles of a occasions, inflation was teenage father whom the city to stand, then commented intends to help, asked the boy awkwardly that the city has “far too Gillibrand takes hit higher than the current newscom many” like him. as Ford flirts The mayor spoke about providing more services so that arrested for the first time since Kirsten juveniles don’t become habitual Gillibrand became a senator, more criminals. But he felt compelled to New Yorkers have an unfavorable call it an “anti-crime initiative” and impression of her than a favorable promise that “there will be no one, according to a Siena Research coddling,” as if he were worried Institute poll. Her unfavorable rat- about accusations of liberalism. ing has jumped to 32%, from 22% a month earlier, while her favorable rating dipped to 30%, from 31%. Web mavens Pollster Steven Greenberg says her target Maloney numbers worsened across the board, with declines seen among inde- vault.com co-founder Sam Hamadeh pendent, suburban, upstate and says he and other Web white voters. He guesses it might entrepreneurs are backing Reshma have something to do with her Saujani in September’s Democratic allies’ efforts to scare off potential primary against challenger Harold Ford Jr. Rep. Carolyn The good news for Ms. Gilli- Maloney, brand: She leads Mr. Ford by 41% D-Manhattan, to 17%, with labor activist Jonathan because Ms. Tasini getting 5%. Saujani shares their vision of making New New post York a “city of for Lee Sander innovation.” Mr. Hamadeh says Reshma Saujani former metropolitan Trans- the Silicon Alley portation Authority Chief Execu- days of the late 1990s could be tive Elliot “Lee” Sander was elected reprised with tax-abated incubator last week to a three-year term as zones, a technology job tax credit chairman of the Regional Plan and a capital investment tax credit Association. Now an executive at for venture capital investments in engineering firm AECOM, Mr. startups. He says he has not heard Sander will help lead RPA’s Ameri- Ms. Maloney mention such ideas ca 2050 program, which prepares and couldn’t find them on the issues national infrastructure and develop- page of her Web site. ment strategies.

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8 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0009-NAT-CCI-CN_-- 1/22/2010 12:12 PM Page 1

REAL ESTATE DEALS PLUS RENT DOWNER represented the pher Street.This will be the second Available Manhattan sublease space tenant along location for the haberdashery, Documenting new with colleague which has maintained a shop on 4Q 2009 Marcus Rayn- Rivington Street for three years. er. “They also The asking rent for the space, WTC’s triumphs liked the views which has been vacant for nearly 16.2M sq.ft. and the good two years after a lengthy run as a light at the grocery store, was about $400 a CHANGE VS. 4Q 2008 hen the 10th anniversary of the new space.” square foot, roughly 20% less than Sept. 11 attacks arrives next year, the office Kreindler the market’s high two years ago. & Kreindler “The pedestrian traffic on Bleeck- +30% buildings now beginning to rise at Ground now occupies er has remained strong through the Zero will still be at least two years away roughly 18,000 recession,” says Pamela Haber, the Source: Eastern Consolidated from completion. Hopefully, the long- square feet at Ripco Real Estate Corp. broker running feud between leaseholder Larry Silverstein and the 100 Park Ave., who, along with colleague Richard W between East Skulnik, represented Freemans and sports figures and investment Port Authority of New York and New Jersey will have been 40th and East landlord William Gottlieb Real Es- bankers, will be an asset to the cor- settled by then, and the mortally damaged Deutsche Bank 41st streets. It tate.“The street is still sought out by porate strip of Third Avenue, says building will finally have been razed. will move into 750 Third Ave. a lot of retailers.” Faith Hope Consolo, the Pruden- its new space in Freemans—whose owner, Taavo tial Douglas Elliman broker who On the bright side, 1 World Trade Center will someday June or July. Somer, also operates restaurant and negotiated on Mr. Wendt’s behalf, boast the fastest elevators in the world.That fact and others Landlord SL Green Realty barbershop divisions—will join along with colleague Joseph will loom large in a planned six-part documentary on the Corp. was represented in-house by nearby shops that include Ralph Aquino. rebuilding of Ground Zero. David Kaufman. SL Green is also Lauren, Marc by Marc Jacobs and Ms. Consolo noted that there the landlord of Kreindler & Krein- LTJ Arthur. The Bleecker Street have been a number of deals in the The series, set to air at around the time of the anniversary, will gloss over dler’s current home. shop is expected to open for business area in the past few months, includ- the nastier political and financial details of the rebuilding saga in favor of —amanda fung in April. ing the recent lease for Ristorante highlighting design accomplishments. —adrianne pasquarelli DeGrezia at East 50th Street and “We want to focus on the positive,” says Debbie Adler Myers, general man- Joining Bleecker’s the renewal of ager of the Science Channel, which is teaming up with Academy Award- A stitch in time the lease for winning director Steven Spielberg to produce the program. Too much at- upscale club clothing shop tention has been paid to the site’s problems and not enough to the spruces up Third Bebe nearby. engineering achievements, she says. leasing activity on Bleecker The tailor At this point, the producers don’t think they need input from one key Street is holding up well despite the huntington,l.i.-based menswear shop is expect- player: Mr. Silverstein. They have not contacted him yet, and they may not recession, thanks to reasonable tailor Joseph Wendt, who runs ed to open for do so. The Port Authority is cooperating, however. rents, solid retail tenants and strong Joseph’s Custom Clothing for business this —theresa agovino pedestrian traffic in the neighbor- Men, recently inked a 10-year deal spring. The hood, brokers say. to lease 350 square feet on the sec- landlord, Co- Upscale menswear store Free- ond floor of 805 Third Ave., between hen Brothers Capture the flags represented the landlord with col- mans Sporting Club recently East 49th and East 50th streets. Realty Corp., league Patrice Hayden. signed a 10-year lease for 450 The asking rent was near $200 a was represent- at 230 Park Ave. Mr. Amrich also notes that new square feet on the ground floor and square foot. ed in-house. companies typically pay higher se- a 200-square-foot storage base- The presence of Mr. Wendt, —adrianne 805 Third Ave. fresh offthe $1 million renovation curity deposits than established ment at 327 Bleecker St., at Christo- who dresses several prominent pasquarelli of the lobby of 230 Park Ave., which firms, and that was the case for Six features a new security system and a Flags. painting depicting the property, the Meanwhile, Lathrop & Gage is building’s owner has signed two doubling the size of its office space leases totaling 42,400 square feet. at 230 Park by taking an additional Starting in the next three to six 10,000 square feet, bringing its total months, Six to 20,400. Flags Inc. will The law firm currently rents have its great space on the 18th and 24th floors. adventures at Once construction is completed, the Park Av- which is expected to happen this enue property, summer, the firm will occupy all but between East 5,000 square feet of the 24th floor. 45th and East The asking rent was in the mid- 46th streets, to upper $60s per square foot, ac- where it leased cording to Jordan Berger of Mon- 22,000 square day Properties. Mr. Amrich and feet. The ask- Ms.Hayden worked on this deal for 230 Park Ave. ing rent for the Monday as well. 10-year deal, CB Richard Ellis brokers Ken which covers the entire 16th floor, Rapp and Kevin Powderly repre- was about $50 a square foot. Six sented Lathrop & Gage. Flags, which filed for bankruptcy —theresa agovino protection last June, is currently lo- and emily laermer cated at 1540 Broadway. The new lease allows the opera- tor of amusement parks to lower its Aviation lawyers rent costs by 35%. “The opportuni- lower their sites ty to save money was paramount” in getting the deal done, says the com- law firm Kreindler & Kreindler is pany’s broker, Matthew Leon of saving money by relocating to small- Newmark Knight Frank. er offices in midtown Manhattan. Mr. Leon says that Six Flags’ The firm, which specializes in status complicated the transaction aviation law, has signed a 10-year slightly, because the lease needed to lease for 11,780 square feet at 750 be approved by the bankruptcy Third Ave., between East 46th and court.For its part,landlord Monday East 47th streets. The asking rent Properties had no misgivings about for the space was $57 per square renting to the concern. foot. “The company is coming out of “The firm will reduce expenses bankruptcy and is becoming a fresh by 40% through a combination of new entity,” says Paul Amrich, a rent and rightsizing,” says Jane broker at CB Richard Ellis Inc. who Roundell of CresaPartners, who

January 25, 2010 | Crain’s New York Business | 9 20100125-NEWS--0010-NAT-CCI-CN_-- 1/22/2010 2:57 PM Page 1

VIEWPOINT Guv’s budget should be passed editor in chief Rance Crain publisher, vp Jill R. Kaplan ov. david paterson’s budget proposal is on, because if a new budget is not passed by April, 7.2% EDITORIAL promising but also reflects the limits of spending increases would kick in, and outlays would quickly editor|editor of the editorial board his power. He seems to know that the outstrip revenues. Xana Antunes managing editor Glenn Coleman state needs complete fiscal reform but Of course, the state’s fiscal crisis should take priority over deputy managing editors Valerie Block, that he lacks the political capital to pull politics. Lawmakers must put New York’s well-being first Erik Ipsen contributing editor it off. and pass Mr. Paterson’s budget. Elizabeth MacBride To be sure, his proposal has much to columnists Greg David, Alair Townsend If they insist on reducing his proposed 5% cut in education politics editor Erik Engquist commend it: aid, they should make up the difference by cutting pork- pulse editor Barbara Benson
It would increase spending by only 0.9%, less than half barrel spending, which the governor left untouched.They senior reporters Theresa Agovino, G Aaron Elstein, Lisa Fickenscher, the rate of inflation. could also eliminate nonessential offices in the state’s Matthew Flamm, Miriam Kreinin Souccar
reporters Amanda Fung, Daniel Massey, More than 90% of its spending cuts are recurring, rather sprawling bureaucracy.They must resist their inclination to Adrianne Pasquarelli, Hilary Potkewitz than the odious one-shots that often prevail in Albany. inflate revenue art director Steven Krupinski
deputy art directors Carolyn McClain, Its tax increases are targeted and avoidable and NY must position projections, which are Daniel Mednick represent good public policy. already optimistic in staff photographer Buck Ennis
copy desk chief Wendy Zuckerman Its education cuts are proportional to the wealth of itself for the end the governor’s plan. copy editor Thaddeus Rutkowski school districts. The tax on sugary research editor Denise Southwood
of federal stimulus assistant research editor Maia Blume It revives plans to allow wine sales in grocery stores and drinks, about a penny editorial/research interns Emily Laermer, Selena Shen to collect sales taxes on most tobacco sold on Indian in two years per ounce, should be www.crainsnewyork.com reservations. implemented, as should web editor Brian Tracey senior producer Elisabeth Butler Cordova It is unfortunate that Mr. Paterson is demanding nothing a $1-per-pack hike in producer Kira Bindrim from the state’s unionized workers and is not closing deficits cigarette taxes.These EDITORIAL AND ADVERTISING OFFICES in future years. But we could live with that if we were taxes can be avoided by 711 Third Ave., New York, NY 10017-5806 confident that this version of the budget is the one the people who cannot afford them and, by discouraging editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 Legislature will approve in the spring. consumption, would reduce the staggering cost of treating Cable craincom nyk Therein lies the rub. Mr. Paterson is facing a bleak fiscal illnesses related to obesity and smoking. Fax 212.210.0499 Entire contents ©copyright 2010 Crain environment with approval ratings so low that he wouldn’t New York must position itself for what will happen in two Communications Inc. All rights reserved. ®CityBusiness is a registered trademark of MCP risk the backlash that a more austere plan would elicit. But years, when money from the federal stimulus package and Inc., used under license agreement. such a plan was what he needed in order to end up where he personal income tax surcharge runs out. As Albany balances TO SUBSCRIBE: started, given that legislators will dilute whatever comes the next budget, it should do more to reduce future deficits, Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. before them. which are projected to run as high as $12 billion. www.crainsnewyork.com Instead, he finds himself with little leverage as he sits The Citizens Budget Commission’s Elizabeth Lynam ADVERTISING AND MARKETING down with a Legislature disinclined to cede any ground. calls the Paterson proposal “a down payment on the advertising director Trish Henry And he does not have the luxury of letting the process drag problem.”That is the very least that New Yorkers deserve. real estate sales manager Cornelius P. Gore senior account managers Irene Irvill, Courtney McCombs, William E. Squitieri account executives Anthony Mowad sales manager, classified COMMENTS print & online John Gallagher CRAIN’S ONLINE POLL sales coordinator, print & online Lulé Haznedari HOW BADLY DID THE SENATE newsletter product manager Alexis Barney LOSS IN MASSACHUSETTS credit Todd J. Masura 313.446.6097 DAMAGE PRESIDENT OBAMA? Spinning the Mass. vote marketing director Amy Crossman circulation manager Andrea Richardson Date of poll: Jan. 20 own troops. And they were handed a mess, but assistant circulation manager It’s bad. This is a TICK, TICK, TICK … Rosalie Ford 509 votes rebuke from many of didn’t blame the Republicans enough.The It’s not as bad as his the independent unless obama wakes up to the will of the health bills they passed are full of giveaways to general manager, interactive adversaries say. voters who backed majority of the people, works on getting the the insurance industry, instead of help for the Marc Minardo Mr. Obama may still Mr. Obama. He must web developer, interactive economy back on its feet, embraces a free market American people. Can they get back their Chris O’Donnell turn around public rethink his agenda vs. government control and stops blaming mojo? I sure hope so, because this country is in opinion—and the GOP and execute more x% everything on the Bush administration, he’ll deep doo-doo if they don’t. NEW YORK PRODUCTION may still fumble. effectively.

end up being a one-term president. —barbara laskin production and pre-press director

—marilyn l. brown Michael Corsi

. advertising production manager . HELP FINDING HEALTH CARE Suzanne Fleischman Wies 30% 35% APPLY LIBERALLY crain’s article “No help in sight for soaring PUBLISHED BY CRAIN COMMUNICATIONS INC. on the contrary, this is a rebuke for his costs” ( Jan. 11) highlights the challenges that chairman Keith E. Crain failure to stick with the liberal agenda that got small business owners confront in finding or president Rance Crain 35% him elected! maintaining affordable health insurance.The secretary Merrilee Crain . —lois schwartz local Human Resources Administration’s treasurer Mary Kay Crain executive vp, operations William Morrow Office of Citywide Health Insurance Access senior vp, group publisher Gloria Scoby It’s worse than bad. BOTH SIDES NOW recently created NYC Health Insurance Link group vp, technology, circulation, After just a year in office, at www.nyc.gov/hilink. It’s a Web site where manufacturing Robert C. Adams Mr. Obama already looks the republican blowback started from day small business owners, freelancers and other vice president/production & like a one-termer. one.They never wanted to be a part of trying to residents can learn about their insurance options, manufacturing David Kamis chief information officer Paul Dalpiaz govern—they only wanted to resist.They’re compare the costs and benefits of a range of corporate circulation/audience very good at condemnation, and excellent at private health insurance plans side by side, and development director Kathy Henry pithy, frothy messages that create fear and find tips on ways to make coverage more founder G.D. Crain Jr. (1885-1973)

newscom misunderstanding. affordable—all in one convenient location. chairman Mrs. G.D. Crain Jr. (1911-1996) For this week’s questions: Go to On the other hand, the Democrats are really —marjorie a. cadogan www.crainsnewyork.com/poll to have your say. good at ruining their opportunities.They had a Executive Deputy Commissioner mandate and blew it.They can’t control their Office of Citywide Health Insurance Access

10 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0011-NAT-CCI-CN_-- 1/22/2010 12:32 PM Page 1

OPINION

compared those who won lotteries to get into charter schools with those Bring competition who lost out in those lotteries. Stu- dents who had to settle for public schools wound up being far behind in school, and probably in life, too. into education The argument for competition is even more compelling for the state’s ast week, the forces committed to the education- public university system. A report commissioned by Gov. Eliot Spitzer al status quo defeated a proposal from the governor and released three years ago warned and mayor to double the number of charter schools that SUNY has slipped in stature, in the state, and thereby damaged New York’s and its position in national research chance to win $700 million in federal funds for has faded because it has too little rev- enue and is starved for investment. Lstates willing to make hard choices to improve their schools. Given the state’s budget prob- Soon, the same forces will gather to block the latest proposal lems,the only way to rectify this is to to allow SUNY and CUNY to set different tuition levels for allow the schools in most demand— led by Buffalo, Albany,Stony Brook each college and univer- Michael Bloomberg and and Geneseo—to raise their tuition sity, enabling them to Chancellor Joel Klein to reflect the value they offer, and to raise money to keep are making progress use the additional money to reinvest pace with rivals in other with public education. in their faculty and facilities. states.The prospects are The threat is real enough The opponents of this plan, led not good for this idea, that the teachers union by Assembly Education Chair Deb- either. In New York, used all its political clout orah Glick, argue that New Yorkers competition in educa- to derail the charter shouldn’t have to choose their school tion is an oxymoron. school expansion. based on cost. So instead, a smaller And that’s the funda- In the meantime, percentage of New York high school mental problem. students at charter graduates attend state universities Start with charter GREG schools are getting a than in places like Illinois,Michigan schools. The idea is to DAVID great education.A study or California because the state’s uni- create an alternative to by respected Stanford versities aren’t good enough. Download all of the information in rule-bound and unre- University economist The status quo drags down the sponsive public schools. Charter Caroline Hoxby found that charter state. Expanding the number of the newly published Book of Lists schools attract thousands of desper- school students in New York nearly charter schools and giving SUNY ate students, raising the possibility matched the performance of young- and CUNY the freedom to set their as an Excel file by purchasing of a decline in public school jobs, sters in affluent suburbs. own tuition rates are what’s needed thereby forcing public schools to be- Ms. Hoxby also disproved one of to improve education from kinder- come more flexible and effective. the teachers union’s frequent asser- garten to postgraduate work. CRAIN’S It is beginning to work in New tions—that charter schools do well York City, where the 100 charter because they attract the most moti- Greg David teaches at the CUNY Graduate schools are a key reason Mayor vated students and parents. She School of Journalism. 2010 BOOK OF LISTS insurance company boards. The re- ONLINE sult is one less barrier to business Spurring growth formation in New York state. Delaware and California have Crain’s Book of Lists digital version contains the updated their tax laws to attract as- set management firms that perform ranking of New York City companies across all in New York state services not contemplated in laws industries – all lists published in print and those written 30 years ago. Similar action that were published online only, including Top here would generate more jobs and BY JONATHAN L. BING higher revenues.We are also behind Management Consultants. other states in updating the defini- he american economy is on the mend, but will tion of our investment tax credit to $is one-time download puts the information New York state follow the national trend? That de- reflect modern investment tools. and contacts from Crain’s 2010 Book of Lists at pends largely on what we do about the state budg- Nonprofit institutions are major employers in New York. A 35-year- your fingertips. Use this unique resource to get et and the business environment during the months old law prevents charitable organi- to come. When asked what would stimulate hiring zations from tapping endowments new business leads for 2009’s top ranked compa- in New York, business tells us, “Lower taxes!” That will be hard to avoid staff layoffs and cutbacks in nies and to direct your outreach to the largest and T programs. We should follow stan- most successful companies across New York’s in a year when the state faces at least a $7 billion deficit. But eco- dards adopted in 35 states to allow nomic recovery requires that state government listen and respond our universities and museums the business sectors. to the needs of business—not just treat it as a cash cow. flexibility they need to prudently and transparently tap into endow- To download now, go to crainsnewyork.com/lists. First, New York must avoid rais- Electric moved its MSNBC studios ments to save jobs and programs. ing taxes not only on employers, but from New Jersey to Rockefeller Albany can work constructively also on employees.In New York City, Center because our state adopted a on closing our budget gap, not by Reach out to New York’s top tax assessments on higher earners are new corporate tax policy (known as raising taxes but by encouraging pri- already almost double New Jersey’s “single sales factor”) that made it vate investment and job creation. It companies today by purchasing and three times those in Connecticut. significantly more attractive to be is time to put jobs and competitive- We are dangerously close to repeat- here. GE saved money, and New ness at the top of our state agenda. Crain’s Book of Lists online. ing London’s mistake of pushing out York state gained hundreds of new Nothing less than the future of our its largest taxpayers. jobs and additional tax revenues. state’s economy is at stake. Second, we can spur economic Last year, I was successful in up- growth—without spending public dating a New York law enacted in Democratic Assemblyman Jonathan L. Bing money—by updating antiquated tax 1892 that set arbitrary and outdated represents Manhattan’s Upper East Side laws. A few years back, General standards for the size and makeup of and East Midtown.

CRAIN’S WELCOMES outside submissions to its opinion page. You may send a column of 475 words or fewer to [email protected]. Please include the writer’s name, address and telephone number.

January 25, 2010 | Crain’s New York Business | 11 20100125-NEWS--0012-NAT-CCI-CN_-- 1/22/2010 3:17 PM Page 1

New York Olympians Eatery’s French resurrection

Continued from Page 3 Continued from Page 1 training and expenses. The funding EMPIRE STATE it at 20 E. 63rd St. He plans to keep reduction from Verizon hit at a time OLYMPIC HOPEFULS it nearly identical to the former in- when there were few others to fill carnation, right down to the pine- the gap. Tim Burke wood paneling—which was re- “The ramp-up to a North Amer- 28 moved from the old location so that ican games would have been a very Paul Smiths it can be installed in the new one, good time for us,” explains Gordy Biathlon opening sometime in the spring. Sheer, spokesman for USA Luge. Located just a couple of blocks The advertising and marketing John Daly away from La Goulue’s former opportunities increase exponential- 34 home, the new space, a three-story ly when an event is nearby—when Smithtown townhouse,needs a massive renova- there’s not a financial crisis, that is. Skeleton tion to the tune of $4 million to $5 “It’s just killed our sales,” he says. Bill Demong million before the first patron can “We’re selling up against the NFL, 29 order a tuna tartare or cheese souf- and these days [corporate] market- Vermontville flé. Mr. Denoyer is removing the ing people are just looking strictly at Nordic skiing stairs leading down to the entrance demographics.” and raising the ceilings of the first Chris Drury* and second floors, so that customers No time for day job 33 walk into the restaurant at street lev- a verizon spokesman says that the Trumbull, Conn. el. He’s moving an elevator, too. ENCORE PERFORMANCE: The defunct neighborhood brasserie will rise again in nearby location. telecom firm has been a longstand- Ice hockey ing supporter of USA Luge, and Erin Hamlin Risky investment could pay off that the funding reduction was part 23 the investment is worth the risk. employees. He has opened a total of Restaurants empire—is a country- of a multiyear contract. Remsen Consider that from 2002 through 24 restaurants over the years. man and friend of Mr. Denoyer’s, The luge team was able to make Luge 2007, La Goulue generated as- “He’s never tried to be trendy or but he does not offer his name or his up most of the Verizon shortfall tounding profit margins of nearly the flavor of the month,”says restau- services for free. with a new sponsorship from Nor- Emily Hughes 30%, in an industry in which the rant consultant Clark Wolf. “I guess it’s expensive to have ton, a maker of abrasives and sand- 21 norm is between 10% and 15%.The Mr. Denoyer’s other eateries him, but the restaurant is very suc- paper that come in handy on slick Great Neck brasserie raked in a record $8.2 mil- here include Orsay,Le Colonial and cessful, and we can afford it,” says ice. And at least the team still has Figure skating lion in 2007, though sales dropped Brasserie Ruhlmann. He is also a Mr. Denoyer. JetBlue Airways as a transportation Dan Joye by $1 million in 2008 when its long- minority investor in Japonais,which Italian to come first sponsor to fly the athletes around 24 term lease ended in June and the has locations here and in Chicago the country for free. The Queens- Carmel landlord tripled the month-to- and Las Vegas, and is co-owned by last year, he recruited a 24-year based airline partnered with the luge Luge month rent. Last year, La Goulue prominent restaurateurs including veteran of the Cipriani organiza- team in 2002, when it started serv- held its own, despite rumors of its Rick Wahlstedt. tion, Hassan El Garrahy, formerly ice out of Burlington, Vt., a short Trevor Marsicano imminent demise. the maître d’ of Harry Cipriani. Mr. drive from Lake Placid. One of its 20 The restaurant’s resurrection is Garrahy is a partner in Orsay and pilots used to compete with the Ballston Spa not merely a bright spot in an other- ‘He’s never tried the new La Goulue, as well as the team. Speed skating wise bleak landscape for the city’s to be trendy driving force behind the plans for The U.S. biathlon team is in a John Napier small businesses. It’s also the success the new Italian restaurant. He says similar position,except the sport has 23 story of a resilient entrepreneur who or the flavor the eatery will be “elegant and sim- even more limited spectator appeal, Schenectady has withstood past downturns and ple. We will never be expensive, or with its combination of cross-coun- Bobsled who continues to soldier on:Mr.De- cheap.” He expects the Italian try skiing and shooting. With a $2 noyer plans to open an Italian restau- of the month’ restaurant to open before La million annual budget, the team is Jeremy Transue rant on the Upper East Side this year. Goulue. dependent on sponsorships to sup- 26 The 68-year-old Parisian As any seasoned restaurateur port its athletes. Hunter opened La Goulue, his first restau- knows, there are always unforeseen “If you’re serious about making Alpine skiing rant, with money he made from a obstacles to opening a new place. the Olympics, you just don’t have Andrew Weibrecht clothing store he opened here in the “There is a socialite sensibility to Some of La Goulue’s new neighbors time for another job,” says Max 23 1970s. (It’s named for Louise We- him,” restaurant publicist Jennifer are trying to block approval of its Cobb, the executive director of the Lake Placid ber, “the glutton” of the Moulin Baum notes. “He’s a man-about- liquor license on the grounds that it is too close to a synagogue. USA Biathlon Association. Alpine skiing Rouge, who downed customers’ town.” Which makes it hard for com- drinks as she danced the cancan past At Brasserie Ruhlmann in But Community Board 8 does petitors like Tim Burke, from Paul *Captain, New York Rangers their tables.) Mr. Denoyer, also a Rockefeller Center (named after not oppose a license for La Goulue Smiths, N.Y., who typically have 12 Source: U.S. Olympic Committee collector of Art Deco objets d’art, designer Émile-Jacques Ruhlmann, and, in fact, recommended that the pairs of skis for different snow con- co-owns 10 brasserie-style restau- whose work Mr. Denoyer collects), state liquor authority approve one. ditions. Ski companies usually sup- rants across the country—half of Laurent Tourondel oversees the “We won the first round, but you ply the athletes with their gear, but Viewers were challenged to them located here—along with a menu and kitchen. The celebrity can’t prevent people from making this year most companies rescinded raise money to plug the team’s cousin, Régis Marinier, and his top chef—who also runs the BLT noise,” Mr. Denoyer says.
on that offer,asking athletes to pony funding gap, and the squad will be up as much as $400 per pair, accord- wearing uniforms emblazoned ing to Mr. Cobb. with the Colbert Nation logo prominently on their outsize Jobless rate signals slow recovery One sport’s unlikely savior thighs. Mr. Colbert then appeared most impacted by the financial on the cover of Sports Illustrated crisis, however, was the U.S. speed magazine, decked out in U.S. speed of Labor. There are now a record began to stabilize, notes James skating team, whose main sponsor, skating gear and skates. NYC’s rise to 10.6% 424,500 unemployed city residents. Brown, principal economist at the Dutch bank DSB, actually went “It all happened so fast,we found means Street’s gains Across the state, the unemploy- state DOL. under last year, leaving the team out about it when he announced it ment rate jumped to 9% in Decem- The city lost 9,100 jobs last with a budget shortfall of nearly on TV,” Mr. Marsicano recalls. “I’m haven’t taken hold ber, from 8.6% the previous month, month, including 5,800 private- $400,000. psyched. I think it’s great for the matching a 26-year high. National- sector positions, according to a sea- “My first thought was, ‘Oh man, sport.” ly, the December rate was un- sonally adjusted analysis of state I’ve got to find something quick to Last week, Mr. Colbert held a BY DANIEL MASSEY changed, at 10.0%. data by real estate services firm make some extra cash,” says Trevor victory show announcing that he “While there might be some re- Eastern Consolidated. Losses were Marsicano, a 20-year-old speed and his fans had raised more than record wall street profits and covery on Wall Street, it’s not trick- concentrated in accounting (1,400), skater from Ballston Spa, N.Y., who $300,000. hints of a national recovery have yet ling down to other parts of the econ- restaurants (1,300) and retail (1,100). figured his summer job as a dish- Mr. Colbert’s support has dra- to reverberate through the local econ- omy,” says James Parrott, chief One bright spot: Wall Street washer would no longer cut it. matically increased the sport’s fan omy, judging by the city’s jobless economist at the Fiscal Policy Insti- added 600 jobs last month, contin- With less than three months to go base, even with his slapstick rate—which hit 10.6% last month, tute, a liberal think tank. “It’s a re- uing a multimonth trend in which until the games, the speed skaters comedic edge. up from 10% in November. minder that we’re still in a very seri- securities employment has been flat gained an unlikely benefactor in “Now that I’ve saved the sport,” The unemployment rate, which ous recession and that job growth is or higher—and fueling hope that Stephen Colbert, host of the popular Mr.Colbert says,“I am sure they will has climbed from 7% in December going to be very slow to come back.” the bloodletting is over. The Colbert Report on Comedy Cen- make me part of the team. Now I 2008, is at its highest level in nearly After each of the past two reces- “We’re not really seeing heavy tral, pledged his Manhattan-based just have one question: What is 17 years, according to data released sions ended,it took more than a year layoffs anymore coming out of that show’s support for the team. speed skating?”
Thursday by the state Department before unemployment in the city industry,” Mr. Brown says.

12 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0013-NAT-CCI-CN_-- 1/21/2010 7:55 PM Page 1

Freight forwarder takes different route Cargo Tours ships machinery to new ports CARGO TOURS INTERNATIONAL prospered as an international freight forwarder, shipping mostly clothing, shoes and furniture from Italy to the U.S. But with the euro’s strength and the economy’s downturn, Joe Delli Carpini, Cargo’s founder and president, knew he had to do something. So he turned to old contacts and cultivated new leads to help him shift his firm’s focus—geographically and materially. Using his networking skills, the 11-year-old Queens- based firm now ships major appliances and industrial equipment—including electricity-generating turbines and drilling and refinery machinery—bound for South America. The change fueled a 15% increase in Cargo’s revenues in 2009. And with Rio de Janeiro hosting the Olympics in 2016, the multilingual Mr. Delli Carpini, who learned Portuguese on New York City’s soccer fields, anticipates playing a role in its infrastructure, shipping everything from small replacement parts to computers. Mr. Delli Carpini turned to old contacts and found new leads Changing their course in a storm

or some small companies, necessity is the mother of their reinvention—and survival. In an economy that’s driven so many firms out of business, Crain’s has uncovered seven that have changed their business expanded the scope of his bauble business to a service models. With their efforts encompassing everything Jewelry company that cash-strapped jewelry firms found hard to resist: from tweaking their product lines to using their existing media-bartering. In exchange for their unsold wares, F Circa began offering firms advertising, cash or a services to carve out new revenue streams, they’re not only barters for baubles combination of both, relying on its established refusing to surrender to the downturn, but are also laying a network of retailers and collectors to foundation for the upturn. Circa offers ads, cash purchase its acquisitions. With its services “We’re investing in the future,” says Avi Abel, general EIGHT YEARS AGO, CHRIS DEL GATTO (above right, encompassing media placement—in print with colleague David Zlochower), a gemologist and and on TV, billboards and the Internet—and manager of Brooklyn-based Watermark Designs, which has estate-jewelry aficionado, founded an interna- ad design, Circa has negotiated barter deals gone from making moderately priced bathroom and kitchen tional business that buys jewelry and timepieces ranging from $250,000 to $15 million for fixtures to turning out high-end items with a designer cachet. from companies and the general public. The firm, companies trading slow-to-sell merchandise Still, reinvention is no panacea. Just ask Greg Roberts. Circa Inc., then sells the items to savvy collectors Mr. Del Gatto for ad space and airtime. After selling custom gift baskets to corporations, he began while unloading tired inventories through a range Headquartered in Manhattan, with offices of outlets, including off-price stores and high-end plans to throughout the country and in Hong Kong, targeting the retail trade last year. While sales shot up, slow- Internet-based sellers. extend Circa sees more gold to be made in media paying supermarkets and hard-to-come-by financing have But a little more than two years ago, as the the service bartering. Mr. Del Gatto plans to extend the forced him to moonlight as a waiter and bartender. economy teetered toward the worst downturn service to other trappings of the good life, —photos by buck ennis; text by cara s. trager since the Great Depression, Mr. Del Gatto such as designer handbags. Continued on Page 14

January 25, 2010 | Crain’s New York Business | 13 20100125-NEWS--0014,0015-NAT-CCI-CN_-- 1/21/2010 7:57 PM Page 1

Repositioning shelving Lucia thinks outside cubicle, targets retail, library clients CRAIG LUCIA’S FIRM is an old hand at shifting gears. Founded in 1994, The Lucia Group started out as a sales rep organization, selling storage products and furniture to Sales increased furniture dealers. Then it morphed into a distributor of nearly 10% shelving systems for corporate mailrooms and backroom storage areas, with a client roster that included Exxon and from 2008 Ogilvy & Mather. to 2009 But two years ago, with sales to the corporate arena not only starting to dry up but also getting fiercely price- competitive, Mr. Lucia (above right, with Sean Corcoran of the Museum of the City of New York) began marketing his offerings for a multitude of additional uses, including as retail displays and library bookshelves. Garnering business through architects, word-of-mouth recommendations and a vendor’s Web site, the Dumbo, Brooklyn-based firm has profited from the repositioned client base. Installations at renovated branches of the Queens Public Library and at the Museum of the City of New York have helped fuel a nearly 10% increase in sales from 2008 to 2009.

Books for the paparazzi Vanity volumes double as marketing tools POWERHOUSE BOOKS HAD cultivated two distinct identities—as a publisher of fine art, documentary photography and pop culture books, and as a producer of custom books for the corporate market, where a single title for Capitol Records had once translated into 2,000 copies. But with sales to booksellers coming to a screeching halt and corporations slashing their promotional budgets, the 14-year-old firm, based in Brooklyn’s Dumbo neighborhood, has taken a page from one of its “less is more” design books. About seven months ago, PowerHouse modified its marketing strategy to focus on custom books—with small print runs of 30 to 50 copies—for the photo-snapping crowd. Positioning the vanity volumes as marketing tools for professional photographers and serious amateurs, the 12-employee firm offers a menu of editing and design services—as well as the lure of possibly acquiring books it deems retail-worthy, says Craig Cohen, executive publisher. With prices starting at $950 for With prices basic editing and starting at $950, designing, the the venture is fledgling venture is averaging one averaging one custom project a project a month month. Its projects typically run about $4,000.

14 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0014,0015-NAT-CCI-CN_-- 1/21/2010 7:58 PM Page 2

Edible flowers turn into sweet retail deal Lower prices lead to more sales THE SUGAR FLOWER CAKE SHOP’S delicate edible florals, foliage and figurines are its signature creations, topping the custom cakes it bakes for special occasions. But last summer, with the West Side firm’s prices as high as $3,000 for a four-tiered cake for 200 people, many brides increasingly sought to slice their wedding expenses and limited their purchases to the flowers. Smelling opportunity in the do-it-yourself baking market, owner Amy DeGiulio cooked up the idea of shaping her sugary blooms for the retail shelf. Through Twitter, she stumbled upon Dean & DeLuca’s address for new products, which led her to drop off samples of her handmade creations. The gourmet-food chain responded with orders for individually boxed seasonal and holiday blossoms, which retail for between $30 and $100, depending on the design’s intricacy Since October, Dean & DeLuca has been showcasing the blossoms in its SoHo and Madison Avenue stores. Plans are in the works to include them in its winter catalog. With retail sales adding a few thousand dollars to Sugar Flower’s coffers, Ms. DeGiulio is gearing up to craft long-stemmed Valentine’s Day roses.

Getting into the aisles Gift-basket maker Metropolitan shifts to the supermarket Mr. Roberts ABOUT TWO YEARS AGO, with clients like Federal Express, UBS and AIG pulling the plug on their corporate largesse, is moonlighting Metropolitan Gifts, a four-year-old purveyor of custom to tide his Through Twitter, corporate gift baskets, began targeting the retail trade. firm over Equipped with a directory of food stores, Greg Roberts, Ms. DeGiulio the Brooklyn firm’s founder and president, cold-called companies, following up with handwritten notes and stumbled upon meetings in far-flung headquarters. As a result, Metropolitan’s goodie-filled baskets line the shelves at many chains, including Pathmark and Price Chopper. Sales have jumped as much as 20% between 2008 and 2009, Dean & DeLuca and the firm has added 10 employees, bringing the total count to 15. But with supermarkets notoriously slow-paying and financing hard to come by, Mr. Roberts is moonlighting as a waiter and bartender to tide his firm over.

Fixtures firm’s upscale design Watermark taps stronger profit margins AS THE HOUSING MARKET CRUMBLED and architects lamented fewer building projects on their drafting tables, Watermark Designs, a manufacturer of everything from bathroom and kitchen faucets to towel bars and other accessories, braced itself for a reversal of fortune. “Faucets are the tail end of the construction business,” says Avi Abel (right, shown with his father, Jack). The younger Mr. Abel is general manager of the family-owned Brooklyn firm. Preparing itself for a business downturn, Watermark stopped introducing items costing a few hundred dollars. Instead, it began manufacturing products imbued with a designer cachet—not only to justify elevated prices, but also to achieve stronger profit margins. A three-piece faucet set is tagged as high as $1,500. The firm’s transformation rested not only on getting designers and architects to use Watermark to produce their fittings for residential and commercial properties, the 10-year-old company also sought licensing agreements that permitted it to market these items to its own network of plumbing wholesalers and retailers. While sales have fallen since 2007, Watermark’s Watermark’s branded, high-end high-end offerings offerings, which carry have enabled designer names like Clodagh, have enabled it to it to remain remain in the black and in the black retain all but five of its 59 employees.

January 25, 2010 | Crain’s New York Business | 15 20100125-NEWS--0016-NAT-CCI-CN_-- 1/21/2010 7:30 PM Page 1

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16 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0017-NAT-CCI-CN_-- 1/22/2010 1:25 PM Page 1

FOR THE RECORD

[email protected]. approximately $150 million. The transaction worth $4,880,050. He now transaction includes the subbasement, indirectly holds 3,270,850 shares. ABOUT THIS SECTION
Health and Hospitals Corp., Sea View selling lower level, ground floor and Hospital FOR THE RECORD is a weekly listing of information from the public record that second floor. The building’s owner, 483 Matthew F. Fiorilli, senior vice president Requests competitive sealed bids by Broadway Realty Corp., was repped by of stores, exercised options on 60,000 can help businesspeople in the New York area find opportunities, potential 2 p.m. on Jan. 26 for upholstered in-house consultant Bruce Kay of AKB shares of common stock at $11.47 on new clients and updates on competitors. armchairs and space tables. Solicitation Realty Group. The lessor was also Jan. 13, in a transaction worth $688,128. To ask questions or get more information on this section, contact Denise documents are available at 460 Brielle repped in-house, by Jared Epstein. On the same day, he sold 60,000 shares Southwood at [email protected]. Ave., room 134, Staten Island. For at prices ranging from $41.50 to $42.21, additional information, contact Alex
Takeout Sweaters has signed a lease in a transaction worth $2,500,111. He Cheng at (718) 317-3377. for an 8,200-square-foot showroom at now directly holds 176,298 shares. 530 Seventh Ave., a 460,000-square-foot HUMAN SERVICES building owned by G&S Realty 1. Marc
MasterCard Inc. (MA-N) BANKRUPTCIES GOVERNMENT CONTRACT
Department of Homeless Services Schoen of Savitt Partners repped both Robert W. Selander, chief executive, sold OPPORTUNITIES Requests proposals by 2 p.m. on Feb. 24 the tenant and the building’s owner in 14,324 shares of common stock at prices The following listings are selected from for shelter-based medical services to the lease negotiations. The asking rent ranging from $252.73 to $255.52 on the most recent available filings by Following are selected contract provide screening, assessment, and was $50 per square foot. Jan. 6, in a transaction worth companies seeking bankruptcy protection opportunities recently announced by New episodic medical and psychiatric services $3,642,648. He now directly holds in the Southern and Eastern Districts York City agencies.To learn how to sell to men residing in the Atlantic Men’s 109,203 shares. of New York. Information was obtained goods and services to city government, visit Shelter in Brooklyn. A preproposal STOCK TRANSACTIONS from U.S. Bankruptcy Court records www.nyc.gov/selltonyc. For a searchable conference is scheduled for 2 p.m. on
John Wiley & Sons Inc. (JW.A) available on Public Access to Court database of current procurement notices, Jan. 26 at 33 Beaver St., 17th floor Following are recent insider transactions at Ellis E. Cousens, executive vice Electronic Records. Listings are in visit www.nyc.gov/cityrecord. Listings are conference room. A site visit will be held New York’s largest publicly held companies president and chief financial and alphabetical order. alphabetical by category and department. at 1322 Bedford Ave., Brooklyn, at filed with the Securities and Exchange operations officer, exercised options on 11 a.m. on Feb. 2. For questions, contact Commission by executives and major 75,000 shares of common stock at prices
A&W Pizzeria & Restaurant Inc., CONSTRUCTION SERVICES Mark Layne at (212) 361-8437 or shareholders. Listings are in order of ranging from $19.27 to $23.40 between DBA Tony’s Ristorante & Pizzeria
Department of Parks and Recreation [email protected]. transaction value.The information was Jan. 4 and Jan. 8, in a transaction worth 1712 Veterans Memorial Highway, Seeks competitive sealed bids by 10:30 obtained from Thomson Reuters. $1,589,800. During the same period, he Islandia, L.I. a.m. on Feb. 18 for the construction and sold 75,000 shares at prices ranging Filed for Chapter 11 bankruptcy reconstruction of playgrounds in school REAL ESTATE DEALS
NBTY Inc. (NTY) from $41.70 to $42.01, in a transaction protection on Jan. 12. The filing cites yards. Bid documents are available for a Arthur Rudolph, director, sold 240,000 worth $3,144,211. He now directly estimated liabilities of $50,001 to fee of $25 at the Olmsted Center, room Companies that would like to have details shares of common stock at prices holds 138,230 shares. $100,000 and assets of $0 to $50,000. 64, in Flushing Meadows Corona Park, of their recent transactions appear in these ranging from $45.00 to $45.38 between Among the creditors with the largest Queens, from 8 a.m. to 3 p.m. Questions listings should e-mail descriptions Jan. 6 and Jan. 12, in a transaction worth
Cognizant Technology Solutions Corp. unsecured claims are Giuseppe regarding this bid should be directed to following this format to $10,814,590. He now directly holds (CTSH) Carusone, owed $15,000; and the New Juan Alban at (718) 760-6771 or [email protected], with 120,849 shares. Lakshmi Narayanan, vice chairman of York State Department of Taxation and [email protected]. “Real estate transaction” in the subject line. the board, exercised options on 50,000 Finance, owed $10,000. Deals are listed in order of square footage. Harvey Kamil, president and chief shares of common stock at $2.37 Requests competitive sealed bids by financial officer, sold 200,000 shares of between Jan. 12 and Jan. 13, in a
Bastone Inc. 10:30 a.m. on Feb. 11 for the construc- OFFICE common stock at prices ranging from transaction worth $118,500. During the 359 Mamaroneck Ave., White Plains tion of recreation lighting at two ball
Lewis Brisbois Bisgaard & Smith $45.00 to $45.80 between Jan. 6 and same period, he sold 50,000 shares at Filed for Chapter 11 bankruptcy fields in Dyker Beach Park, Brooklyn. signed a 10-year, 75,716-square-foot Jan. 12, in a transaction worth prices ranging from $48.29 to $48.60, in protection on Jan. 18. The filing cites Solicitation documents can be obtained sublease on the 19th through 21st floors $9,026,190. He now directly holds a transaction worth $2,426,900. He now estimated liabilities of $100,001 to at the Olmsted Center, room 64, in of 77 Water St. The name of the 743,966 shares. directly holds 2,130,000 shares. $500,000 and assets of $0 to $50,000. Flushing Meadows Corona Park for a sublessor was not disclosed. The Among the creditors with the largest fee of $25. For additional information, 600,000-square-foot building is owned
Barnes & Noble Inc. (BKS) Chandrasekaran Ramakrishnan, unsecured claims are Greenridge contact Juan Alban at (718) 760-6771 or by the Kaufman Organization. Studley’s Ronald W. Burkle, beneficial owner, president and managing director of Management, owed $37,000; and [email protected]. Marc Shapses and Craig McKenna and purchased 500,000 shares of common global delivery, exercised options on Sassone Wholesale, owed $25,428. CB Richard Ellis’ Adam Foster acted on stock at prices ranging from $17.96 to 50,000 shares of common stock at
Housing Authority behalf of the tenant. Louis D’Avanzo $18.44 between Jan. 12 and Jan. 14, in a $33.71 between Jan. 5 and Jan. 12, in a
Bob Stevens Appliances & T.V. Inc. Seeks competitive sealed bids by 10 a.m. and Robert Constable of Cushman & transaction worth $9,176,212. He now transaction worth $1,685,500. During 381-9 Old Riverhead Road, on Feb. 4 for rehabilitation, maintenance Wakefield represented the sublandlord. indirectly holds 10,741,200 shares. the same period, he sold 50,000 shares at Westhampton Beach, L.I. and service for 12 elevators at St. Mary’s The asking rents were in the upper $30s prices ranging from $47.01 to $48.14 in Filed for Chapter 11 bankruptcy Park, Bronx. Bid documents are per square foot.
Bed Bath & Beyond Inc. (BBBY) a transaction worth $2,378,750. He now protection on Jan. 14. The filing cites available from 9 a.m. to 4 p.m. for a fee Warren Eisenberg, co-chairman of the directly holds 15,328 shares. estimated liabilities of $100,001 to of $25 payable to NYCHA in the form
Ingram Yuzek Gainen Carroll & board, sold 196,000 shares of common $500,000 and assets of $1,000,001 to of a money order or certified check, and Bertolotti has signed a 10-year, 20,000- stock at prices ranging from $41.55 to Steven E. Schwartz, senior vice $10 million. Among the creditors with can be picked up at 90 Church St., 11th square-foot lease on the sixth floor of $42.05 between Jan. 8 and Jan. 11, in a president, general counsel and secretary, the largest unsecured claims are the floor. For more information, contact 250 Park Ave. The 543,292-square-foot transaction worth $8,161,176. He now exercised options on 22,915 shares of New York State Department of Gloria Guillo at (212) 306-3121 or building is owned by AEW Capital indirectly holds 4,691,200 shares. common stock at $5.06 on Jan. 13, in a Taxation and Finance, owed $214,493; [email protected]. Management. David Hoffman of transaction worth $115,950. On the and the Internal Revenue Service, Colliers ABR repped the owner, and Leonard Feinstein, co-chairman of the same day, he sold 22,915 shares at owed $200,000. GOODS AND SERVICES Gordon Ogden and Tom Murray of board, sold 117,200 shares of common $48.60, in a transaction worth
Department of Citywide Administrative Byrnam Wood represented the tenant. stock at prices ranging from $41.55 to $1,113,669. He does not currently hold
KDJ Advertising Services The asking rent was $65 per square foot. $42.05 between Jan. 8 and Jan. 11, in a any shares.  44 Wall St. Requests proposals by 2 p.m. on March Filed for Chapter 11 bankruptcy 26 for upgrades to the New York City
Reitler Kailas & Rosenblatt has protection on Jan. 15. The filing cites taxi fleet to better meet the needs of subleased 16,500 square feet for 11 years estimated liabilities of $1,000,001 to passengers, drivers, owners and New from Latham & Watkins on the 16th DEALS ROUNDUP $10 million and assets of $100,001 to York City residents. The agency seeks an floor at 885 Third Ave. The 562,000- $500,000. Among the creditors with the original equipment manufacturer to square-foot building is owned by TRANSACTION SIZE largest unsecured claims are Herald provide a vehicle developed or modified Metropolitan Real Estate Investors and COMPANY (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE National Bank, owed $245,000; and 30 for use as a taxi. Questions about this Tao Tsuot Ltd. Gordon Ogden and Tom fps, owed $30,435. solicitation should be directed to Murray of Byrnam Wood repped the American Railcar Industries $407.6 Icahn Enterprises (Manhattan) (54.3%) SB M&A Edward Andersen at (212) 669-8509. tenant, and Scott Gamber and Peter Equinox Holdings $400.0 Not disclosed GCI
976 Enterprises Inc. Turchin of CB Richard Ellis acted on (Manhattan) 976 Sixth Ave.
Department of Education behalf of the sublessor. The asking rent Viskase Cos. $124.0 Icahn Enterprises (Manhattan) (71.4%) SB M&A Filed for Chapter 11 bankruptcy Seeks competitive sealed bids by 5 p.m. was $75 per square foot. HighTower Advisors $100.0 DLB Capital, Asset Management Finance GCI protection on Jan. 12. The filing cites on Jan. 28 for the rental of bleachers.To (Manhattan) (Manhattan), individual investors
estimated liabilities of $100,001 to obtain bid documents, send an e-mail to The Robert Wood Johnson LAEP Investments Ltd. $68.0 Global Emerging Markets (Manhattan) GCI $500,000 and assets of $0 to $50,000. [email protected] with the Foundation has leased 5,000 square feet CSIdentity Corp. $35.0 Investcorp Technology Partners (Manhattan) GCI Among the creditors with the largest number (#Z1421040) and title of the bid on the sixth floor of 1330 Sixth Ave.,a unsecured claims are the New York State in the subject line. For more information, 572,300-square-foot building owned by LaBranche & Co., NYSE $25.0 Barclays Capital Inc. SB M&A Designated Market Maker Department of Taxation and Finance, e-mail [email protected] with Otera Capital. Gordon Ogden and Business (Manhattan) owed $96,444.05; and Larmo Realty the number and title of the bid in the Thomas Murray of Byrnam Wood Corp., owed $94,757.07. subject line. repped the tenant, and Cynthia Able Energy Inc., certain $24.0 Exousia Advanced Materials Inc. SB M&A assets (Manhattan) Wasserberger of Jones Lang LaSalle
South Shore Packers Inc.
Department of Health and Mental negotiated on behalf of the owner. The Visible Technologies Inc. $22.0 Ignition Partners, Centurion Holdings, GCI 68 Barnes Road, Moriches, L.I. Hygiene asking rent was between $75 and $80 In-Q-Tel, WPP Digital, Investor Growth Capital (Manhattan) Filed for Chapter 11 bankruptcy Seeks competitive sealed bids by 10 a.m. per square foot. protection on Jan. 12. The filing cites on Feb. 11 for interior painting services Enviromena Power Systems $15.0 Zouk Ventures Ltd, Good Energies Inc., GCI OTHER CSFB Customized Fund Investment Group estimated liabilities of $100,001 to on an as-needed basis in various (Manhattan) $500,000 and assets of $0 to $50,000. buildings throughout the five boroughs.
Aurora Capital Associates, with Among the creditors with the largest Solicitation documents can be obtained partner Alex Adjmi, has acquired a 49- Selected deals announced for the week ending Jan. 16 involving companies in metro New York. GCI: Growth capital investment represents new money invested in a company for a minority unsecured claims are Conference at 125 Worth St., room 812. For year master lease covering 40,000 square stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing Associates, owed $11,590.36; and additional information, contact Amina feet at 483 Broadway, a 70,000-square- shares of a company without the participation of a financial buyer. source: capitaliq USDA-NFC, owed $5,434.53. Velazquez at (212) 788-5309 or foot building, in a transaction valued at

January 25, 2010 | Crain’s New York Business | 17 nb04p18-19cl.qxp 1/22/10 4:23 PM Page 18

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Office in NY Co. whom process against it may be Notice of Formation of eBooleant SSNY shall mail process to c/o AIV, L.P. Authority filed with Secy. of SSNY desig. agent of LLC upon served. SSNY shall mail copy of Consulting, LLC. Arts. of Org. filed Corporation Service Co., 80 State State of NY (SSNY) on 12/03/09. whom process may be served. process to c/o Hofheimer Gartlir & with NY Dept. of State on 12/30/09. St., Albany, NY 12207. Purpose: Any Office location: NY County. LP formed SSNY shall mail copy of process to Gross LLP, 530 Fifth Avenue, New Office location: NY County. Sec. of lawful activity. in Delaware (DE) on 08/07/08. Princ. Cowan, Liebowitz & Latman, PC, York, N.Y. 10036. Purpose: any law- State designated as agent of LLC office of LP: 650 Madison Ave., NY, 1133 6th Ave., NY, NY 10036-6799 ful activities. upon whom process against it may Notice of Qualification of CF Inver NY 10022. SSNY designated as agent Attn: Peter Porcino. Purpose: Any be served and shall mail process to: Grove III RE Holdco LLC. Authority of LP upon whom process against it lawful purpose. Notice of Formation of limited liability c/o CT Corporation System, 111 8th filed with NY Dept. of State on may be served. SSNY shall mail company (LLC). Name: VINOS Ave., NY, NY 10011, regd. agent 12/11/09. Office location: NY County. process to the Partnership at the Notice of Formation of AZTEC LIBRES LLC. Arts. Of Org. Filed with upon whom process may be served. LLC formed in MI on 12/4/08. NY princ. office of the LP. The regd. agent ASSOCIATES, LLC. Cert. of the Dept. of State of NY on Purpose: any lawful activity. Sec. of State designated as agent of of the company upon whom and at Conversion filed with Secy. of State of November 16, 2009. Office loc.: New LLC upon whom process against it which process against the company NY (SSNY) on 11/24/09, converting York County. Secretary of State of Notice of Formation of Tejabe Realty may be served and shall mail can be served is Corporation Service AZTEC ASSOCIATES to AZTEC New York (SSNY) is designated as Holding, LLC. Articles of Organization process to: c/o CT Corporation Co. (CSC), 80 State St., Albany, NY ASSOCIATES, LLC. Office location: agent of LLC upon whom process filed with Secy. of State of NY (SSNY) System, 111 8th Ave., NY, NY 10011, 12207-2543. Name and addr. of each NY County. Princ. office of LLC: C/O against it may be served. The princi- on 01/07/10. Office location: NY regd. agent upon whom process may general partner are available from United American Land, LLC, 430 W. pal business and address SSNY shall County. SSNY designated as agent of be served. MI and principal business SSNY. DE addr. of LP: c/o CSC, 2711 Broadway, NY, NY 10012. SSNY des- mail copy of process is to M.S. LLC upon whom process against it addr.: 27777 Inkster Rd., Farmington Centerville Rd., Wilmington, DE ignated as agent of LLC upon whom Rapaport, Esq., 6th floor, 18 East may be served. SSNY shall mail Hills, MI 48334. Arts. of Org. filed 19808. Arts. of Org. filed with DE process against it may be served. 48th St. New York, New York 10017. process to the LLC, c/o Charles W. with MI Dept. of Energy, Labor & Secy. of State, State of DE, Div. of SSNY shall mail process to the LLC Management of the LLC shall be by Weiss, Esq., 225 Old Country Road, Economic Growth, 2501 Wood Lake Corps., 401 Federal St., Dover, DE at the addr. of its princ. office. one or more members. Purpose: To Melville, NY 11747. Purpose: any Circle, Okemos, MI 48864. Purpose: 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. engage in any lawful act or activity. lawful act or activity. all lawful purposes.

18 | Crain’s New York Business | January 25, 2010 nb04p18-19cl.qxp 1/22/10 4:24 PM Page 19

PUBLIC & LEGAL NOTICES

NOTICE OF FORMATION OF NOTICE OF FORMATION OF LIMIT- Name of LLC: Imperial Capital LLC. Notice of Qualification of MORVEN GP, NOTICE OF FORMATION OF LIMIT- BAYVILLE OTC LLC. Article of ED LIABILITY COMPANY. NAME: Auth. filed with NY Dept. of State: LLC. Authority filed with Secy. of State ED LIABILITY COMPANY. NAME: Organization filed with the Secretary 135 WAVERLY REALTY LLC. Articles 1/30/09. NYS fict. name: Imperial of NY (SSNY) on 01/05/10. Office LIPPMAN HUTT REAL ESTATE LLC. of State of NY (SSNY) on of Organization were filed with the Realty Holdings LLC. Office loc.: NY location: NY County. LLC formed in Articles of Organization were filed with 10/27/2009. Office location NEW Secretary of State of New York Co. LLC formed in NV: 3/31/06. NY Delaware (DE) on 12/23/09. Princ. the Secretary of State of New York YORK County. SSNY has been des- (SSNY) on 07/27/06. Office location: Sec. of State designated agent of office of LLC: Attn: Robert Heine, 2 (SSNY) on 09/28/09. The latest date ignated as agent upon whom process New York County. SSNY has been LLC upon whom process against it Beekman Pl., #13A, NY, NY 10022. of dissolution is 12/31/2035. Office against it may be served. The Post designated as agent of the LLC upon may be served and shall mail SSNY designated as agent of LLC location: New York County. SSNY has Office address to which the SSNY whom process against it may be process to: c/o Mel Cooper, 721 5th upon whom process against it may be been designated as agent of the LLC shall mail a copy of any process served. SSNY shall mail a copy of Ave., #45K, NY, NY 10022, regd. agt. served. SSNY shall mail process to the upon whom process against it may be against the LLC served upon him/her process to the LLC, 135 Waverly upon whom process may be served. LLC at the addr. of its princ. office. DE served. SSNY shall mail a copy of is C/O the LLC 145 EAST 17TH Place a/k/a 385 6th Avenue, New NV addr.: 6100 Neil Rd., Ste. 500, addr. of LLC: c/o Corporation Service process to the LLC, 136 West STREET RM A4. NEW YORK, NY York, New York 10014. Purpose: For Reno, NV 89511. Arts. of Org. filed: Co., 2711 Centerville Rd., Ste. 400, Broadway, New York, New York 10013. 10003. Purpose of LLC: to engage in any lawful purpose. NV Sec. of State, State Capital Wilmington, DE 19808. Arts. of Org. Purpose: For any lawful purpose. any lawful act or activity. Street Complex, Carson City, NV 89710. filed with Secy. of State of DE, 401 address of Principal Business loca- Notice of Formation of SOFOS ASSET Purpose: any lawful activity. Federal St., Ste. 4, Dover, DE 19901. 108 NORWOOD LLC a domestic tion is: 145 EAST 17TH STREET RM MANAGEMENT, LLC, a domestic Purpose: Any lawful activity. Limited Liability Company (LLC) filed A4. NEW YORK, NY 10003. LLC. Arts. of Org. filed with the SSNY Notice of Qualification of Alene with the Sec of State of NY on on 11/18/2009. Office location: NY Candles, LLC. Authority filed with NY BODHAN BROTHERS LLC a domes- 10/27/09. NY Office location: New Notice of Formation of HIS FIRST County. SSNY has been designated Dept. of State on 12/8/09. Office tic Limited Liability Company (LLC) York County. SSNY is designated as KISS, LLC. Arts. of Org. filed with as agent upon whom process against location: NY County. LLC formed in filed with the Sec of State of NY on agent upon whom process against Secy. of State of NY (SSNY) on the LLC may be served. SSNY shall NH on 12/2/08. NY Sec. of State 9/18/09. NY Office location: New York the LLC may be served. SSNY shall 12/04/09. Office location: NY mail a copy of process to: George designated as agent of LLC upon County. SSNY is designated as mail a copy of any process against County. Princ. office of LLC: 11 Nikas, 145 E. 57th St. 8th Fl, NY, NY whom process against it may be agent upon whom process against the LLC served upon him/her to The Stanton St., #1D, NY, NY 10002. 10022. Purpose: Any Lawful Purpose. served and shall mail process to the the LLC may be served. SSNY shall LLC, 400 W. 14th St., 3rd Fl., NY, NY SSNY designated as agent of LLC NH and principal business address: mail a copy of any process against 10014. General Purposes. upon whom process against it may 51 Scarborough Lane, Milford, NH the LLC served upon him/her to Notice of Formation of SL Holdings I, be served. SSNY shall mail process 03055. Arts. of Org. filed with NH Poppe & Bhouraskai, LLP, 350 5th LLC. Arts. of Org. filed with NY Dept. of to the LLC at the addr. of its princ. Sec. of State, 107 N. Main St., PO Ave., Ste. 7315, NY, NY 10118-7315. State on 9/29/09. Office location: NY office. Purpose: Any lawful activity. Box 4989, Concord, NH 03301. General Purposes. County. Sec. of State designated as Purpose: any lawful activity. agent of LLC upon whom process Notice of Formation of Elyse Paris against it may be served and shall mail Notice of Formation of SANCTUARY Designs LLC. Arts. of Org. filed with process to the principal business Notice of formation of HEIDARI LIM- BOOKS, LLC. Arts. of Org. filed with NY Dept. of State on 12/15/09. Office address: 580 5th Ave., Ste. 501, NY, NY ITED PARTNERSHIP, a domestic Secy. of State of NY (SSNY) on location: NY County. Princ. bus. addr.: 10036. Purpose: any lawful activity. Limited Partnership (LP). Certificate 10/6/09. Office location: NY County. 156 W. 56th St., NY, NY 10019. Sec. of Limited Partnership filed with the SSNY designated as agent of LLC of State designated as agent of LLC Secretary of State on November 23, upon whom process against it may be upon whom process against it may HAPPY TEETH NY LLC Articles of 2009, NY Office Location: New York served. SSNY shall mail process to: be served and shall mail process to: Org. filed NY Sec. of State (SSNY) County. Secretary of State is desig- Corporation Service Company, 80 c/o Windels Marx Lane & Mittendorf, 7/3/09. Office in NY Co. SSNY desig. nated as agent upon whom process State St., Albany, NY 12207, registered LLP, 156 W. 56th St., NY, NY 10019, agent of LLC upon whom process against the LP may be served. agent upon whom process may be Attn: Bruce Bronster, Esq. Purpose: may be served. SSNY shall mail copy Secretary of State shall mail a copy served. Purpose: any lawful activity. any lawful activity. of process to 160 Riverside Blvd., of any process against the LP served Notice of Formation of Saw Storage Apt. #6E, NY, NY 10069, which is upon him/her to: 30 Sutton Place, New Holdings LLC. Arts. of Org. filed with also the principal business location. Notice of Formation of G&A Secy. of State of NY (SSNY) on Notice of Formation of HHLP Duo York, New York 10022. Purpose: To Management Associates, LLC. Arts. One Associates, LLC. Arts. of Org. Purpose: Any lawful purpose. engage in any lawful act or activity. 11/20/09. Office location: NY Co. of Org. filed with Secy. of State of NY SSNY designated as agent of LLC filed with NY Dept. of State on (SSNY) on 3/16/09. Office location: 11/3/09. Office location: NY County. upon whom process against it may Notice of Formation of ROBERT J. NY County. SSNY designated as be served. SSNY shall mail process Princ. bus. addr.: 44 Hersha Dr., SAFERSTEIN PRODUCTIONS LLC, agent of LLC upon whom process Harrisburg, PA 17102. Sec. of State to: c/o BTP Real Estate Ltd., Attn: a domestic LLC. Arts. of Org. filed against it may be served. SSNY Jessica Sillins, 224 West 49th St., designated as agent of LLC upon with the SSNY on 10/22/2009. Office shall mail process to: c/o Abigail H. whom process against it may be Ste. 411, NY, NY 10019. Purpose: location: NY County. SSNY has been Hess Interiors, Inc., 308 E. 79th St., any lawful activities. served and shall mail process to: c/o designated as agent upon whom Ste. 1B, NY, NY 10075, Att: George CT Corporation System, 111 8th process against the LLC may be served. Constant. Purpose: any lawful activity. Ave., NY, NY 10011, regd. agt. upon SSNY shall mail a copy of process WIREFRAME SOLUTIONS LLC a whom process may be served. domestic Limited Liability Company to: 160 W. 118th St. #5B, NY, NY Notice of Formation of ANCONIA Purpose: any lawful activity. 10026. Purpose: Any Lawful Purpose. (LLC) filed with the Sec of State of PARTNERS LLC. Arts. of Org. filed NY on 10/23/09. NY Office location: Notice of Formation of M Dance & with Secy. of State of NY (SSNY) on Notice of Qualification of Lago New York County. SSNY is designat- Fitness LLC. Articles of Organization NOTICE OF FORMATION OF U & V 12/11/09. Office location: NY County. Capital Management LLC, App. for ed as agent upon whom process filed with Secy. of State of NY (SSNY) Events LLC. Arts. of Org. filed with SSNY designated as agent of LLC Auth. filed Sec’y of State (SSNY) against the LLC may be served. SSNY on 12/17/09. Office location: NY Secy. of State of N.Y. (SSNY) on upon whom process against it may 12/2/09. Office location: NY County. shall mail a copy of any process County. SSNY designated as agent 07/14/2009. Office location: New York be served. SSNY shall mail process LLC org. in DE 11/30/09. SSNY against the LLC served upon him/her of LLC upon whom process against County. SSNY designated as agent of to the LLC, Attn: Corporation Service designated as agent of LLC upon to The LLC, 244 5th Ave., Ste. 2435, it may be served. SSNY shall mail LLC upon whom process against it Co., 80 State St., Albany, NY 12207- whom process against it may be NY, NY 10001. General Purposes. process to the LLC, 350 West 57th may be served. SSNY shall mail 2543, regd. agent upon whom and at served. SSNY shall mail copy of Street, #16C, New York, NY 10019. process to: 309 W. 30th Street, Suite which process may be served. SULTAAN J. MOKAL CPA PLLC, process to Attn: Eric Fishman, 535 Purpose: any lawful act or activity. 2C, New York, NY 10001. Purpose: Purpose: Any lawful activity. Articles of Org. filed N.Y. Sec. of Madison Ave., 30th Fl., NY, NY any lawful activity. 10022. DE office addr.: CSC, 2711 State (SSNY) 30th day of November, Centerville Rd., Wilmington, DE KAROON.COM LLC a domestic Notice of Formation of MAHLER LLC. 2009. Office in New York Co. at 1 19808. Cert. of Form. on file: SSDE, Limited Liability Company (LLC) filed NOTICE OF FORMATION OF Rum & Arts. of Org. filed with Secy. of State of Maiden Lane, 5th Floor, New York, Townsend Bldg., Dover, DE 19901. with the Sec of State of NY on Blackbird LLC. Arts. of Org. filed with NY (SSNY) on 12/07/09. Office location: New York 10038. SSNY desig. agt. Purpose: any lawful activities. 12/22/09. NY Office location: New Secy. of State of N.Y. (SSNY) on NY County. Princ. office of LLC: 301 upon whom process may be served. York County. SSNY is designated as 10/15/09. Office location: New York W. 57th St., #25G, NY, NY 10019. SSNY shall mail copy of process to 1 Notice of Qualification of OAKTREE agent upon whom process against County. SSNY designated as agent of SSNY designated as agent of LLC upon Maiden Lane, 5th Floor, New York, PPIP FUND, L.P. Authority filed with the LLC may be served. SSNY shall LLC upon whom process against it whom process against it may be served. New York 10038. Reg.Agt. upon Secy. of State of NY (SSNY) on mail a copy of any process against may be served. SSNY shall mail SSNY shall mail process to Matthew whom process may be served: 12/16/09. Office location: NY County. the LLC served upon him/her to The process to: 406 W. 44th Street New S. Seminara, Esq., Gibney, Anthony & Spiegel & Utrera, P.A., P.C. 1 Maiden LP formed in Delaware (DE) on LLC, 603 W. 115th St., Ste. 342, NY, York, NY 10036. Purpose: any lawful Flaherty, LLP, 665 Fifth Ave., NY, NY Lane, NYC 10038 1 800 576-1100 07/17/09. Princ. office of LP: NY 10025. General Purposes. activity. 10022. Purpose: Any lawful activity. Purpose: Any lawful purpose. Oaktree/Arctic Slope PPIP Fund GP, L.P., c/o Oaktree Capital Mgmt. L.P., 333 S. Grand Ave., 28th Fl., Los Angeles, CA 90071. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207- 2543, regd. agent upon whom and at which process may be served. Name and addr. of each general partner are available from SSNY. DE addr. of LP: 2711 Centerville Rd., Ste. 400, Wilmington, New Castle Cnty., DE 19808. Arts. of Org. filed with Secy. of State of DE, John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

January 25, 2010 | Crain’s New York Business | 19 20100125-NEWS--0020-NAT-CCI-CN_-- 1/22/2010 8:13 PM Page 1

Collision Landlords get hit

Continued from Page 1 sion left a host of questions unan- course the six-building complex. They al- swered, most importantly whether lege that the landlord wrongfully the decision will be applied retroac- deregulated their apartments and tively, how the financial remedy Continued from Page 1 raised rents while receiving a J-51 tax should be calculated and whether it as effectively as possible,”Mr.Walder MIND THE break.That suit is just the latest of at should be applied to buildings that BUDGET GAP: says. “It would be hard to say the Transit union chief least half a dozen such legal actions, are no longer receiving J-51 bene- MTA is doing that right now.” John Samuelsen. including one at London Terrace fits. To increase efficiency,Mr.Walder Gardens, a 10-building Manhattan Also unclear is how many apart-

says, he must cut jobs “significantly,” buck ennis complex where City Council Speak- ments will be impacted. The latest change “archaic”work rules and insti- er Christine Quinn resides. estimates from the state Division of tute service cuts, among other fixes. lobbying in Albany. More than a in cost-cutting measures. “There will be a number of other Housing and Community Renewal However, Mr. Samuelsen intends to dozen other opponents were also of- He’s on a similar savings quest cases,” says Ron Aranoff, a lawyer and private housing groups range defend his members.And that sets up fered positions. here,because an already dismal 2009, with Bernstein Liebhard, which has from 30,000 to 40,000 units. the union leader from Brooklyn and “If we don’t march forward in uni- during which ridership plummeted filed at least five similar lawsuits the transit chief from Queens for a son,” Mr. Samuelsen explains, “we’re as the economy tanked, ended with a against landlords, including the Growing class high-voltage battle.The two men in- going to be defeated by the MTA.” crippling coda in December. First, owners of 445 E. 80th St., a 240- those numbers could swell, how- sist they’re committed to working out He’s also had to get a grip on Lo- the state revealed it would cut fund- unit building. “Tenants who have ever,as tenants in formerly rent-reg- a solution, but their opening salvos cal 100’s finances. The headquarters ing to the MTA by $143 million. been [wronged] are eager to have ulated apartments in buildings that have been uncompromising. sale netted about $46 million, but Then came word that the payroll tax their rents reduced.” received J-51 tax breaks years ago “This bureaucrat … looks at our only $26 million remains. One rea- instituted last year as part of Albany’s While the number of tenant bring suits against their landlords. jobs, our neighborhoods, as a line on son:Union officials used the proceeds MTA bailout could bring in $200 class-action lawsuits filed to date That is the situation at Lenox Ter- a ledger that will balance his books,” to cover operating expenses when million less than thought. Finally, a pales in comparison with the flood race, where J-51 tax breaks have ex- Mr. Samuelsen told TWU members dues couldn’t be collected via an auto- court shot down an appeal of an arbi- originally anticipated, experts pre- pired at four of the six buildings. At at a Martin Luther King Jr. Day fo- matic payroll deduction, a penalty for tration ruling that awarded workers dict more will follow as attorneys re- the complex,200 to 300 out of 1,700 rum. “I have news for Mr. Walder: If the illegal 2005 strike. Local 100 ran raises of more than 11% over three ceive more calls from concerned units were illegally deregulated, and you move against our livelihoods,you a $2 million deficit last year, Mr. years, leaving the MTA with a $91 tenants. In the meantime, they note individual tenants would be entitled will have a fight on your hands.” Samuelsen says. million increase in its 2010 payroll. that the uncertainty created by the to $2,000 to $30,000, according to Any such fight will be led by the Mr.Walder,50,who took over the Stuy Town decision over just how David Hershey-Webb of law firm 42-year-old son of a meat lugger and MTA in October, has his own mon- Damages add up much landlords may or may not owe Himmelstein McConnell Gribben a union pension fund director, who ey woes. Some 700 planned layoffs “when you put it all together, that tenants in formerly rent-regulated Donoghue & Joseph, who repre- started as a track worker in 1993. Mr. were unveiled last month, affecting introduced a $400 million shortfall in units is making it all but impossible sents the tenants in that case. Samuelsen was initially friendly with mostly station agents and bus opera- an incredibly short period of time,” for many landlords to refinance, “My plaintiffs are people who union President Roger Toussaint,but tors. More could be coming. Work Mr.Walder says.“When you sit in my much less sell their properties. moved into those buildings while J- he became persona non grata in 2005 rules that “stand in the way of achiev- shoes, you have to deal with that.” 51 was in effect before it expired,” when he challenged Mr. Toussaint’s ing the most effective outcomes” also Since labor constitutes 58% of the A buyer turnoff says Mr. Hershey-Webb. “The decision to sell the union’s West End must be modified, Mr. Walder says, agency’s 2010 expenses, or about $7 “there is uncertainty as to what owner unlawfully treated them as Avenue headquarters and organized declining to offer specifics. One billion, layoffs would seem to be an the rent roll is for any of these build- deregulated apartments.” opposition to the contract settlement perennially contentious idea would obvious target, although a plan to ings that received J-51s,” says Such lawsuits are already causing that ended the transit strike that year. cut train crews from two to one. overhaul the MTA’s massive admin- Howard Wenig, partner at law firm some investors to think twice about He earned credibility among those “I always found him to be some- istrative side is also in the works. Belkin Burden Wenig & Goldman, buying a building that once received who were tiring of their president. one with strong principles, but who “I don’t want to threaten anyone’s which represents a number of land- or is still receiving J-51 rebates. you can talk to,” says transit advocate livelihood,” Mr. Walder says. “I’d like lords. “Investors [in buildings] and “You have a bunch of people say- Rough-and-tumble union election Gene Russianoff of the Straphangers our work force to be well-trained and lenders hate uncertainty, so the most ing they don’t want to touch J-51 “john brings a lot of experiences to Campaign, who knew Mr. Walder well-compensated, but I want it to be likely impact is lack of transactions.” buildings,” says Peter Von Der Ahe, the table,”says New York State AFL- during the CEO’s earlier stint as the a highly productive work force, too.” The uncertainty dates back to director of national multihousing at CIO President Denis Hughes. “He MTA’s chief financial officer. “That’s The MTA plans a further appeal October, when the New York State brokerage Marcus & Millichap, was a rank-and-file activist, he held my hope for the approach he’ll have of the third year’s raise that was part Court of Appeals ruled that Stuy who has been trying to sell a 30-unit union office and he understands the with the unions.” of the arbitration ruling, a move that Town owners Tishman Speyer and building receiving such tax breaks in MTA very well.” As managing director for finance has inflamed tensions with the union. BlackRock Realty had wrongfully the East Village. He notes that with Mr. Samuelsen’s election cam- and development of Transport for Finding common ground was a deregulated apartments while receiv- the rental income on the property paign played up the notion that Lo- London, Mr. Walder frequently hallmark of previous agency CEO ing J-51 tax abatements from the city now open to question and with the cal 100 had become too cozy with the butted heads with members of Lon- Elliot Sander’s approach to labor re- for making building renovations. possibility of rebates being due to MTA under Mr. Toussaint and his don’s transit union. But he won lations, Mr. Russianoff of the Approximately 4,000 out of tenants, J-51 properties have be- handpicked successor, Curtis Tate. It praise for introducing a state-of- Straphangers Campaign observes. 11,000 apartments had been dereg- come impossible to value. Banks, was a rough-and-tumble contest. Yet the-art electronic fare card that he “The last thing we want,” he says, ulated in the complex. Experts esti- too, are steering clear of such build- one of Mr. Samuelsen’s first moves as hopes to bring to New York, and he “is the tension and chaos that sur- mate that rent rebates to tenants ings and are increasingly balking at president was to offer Mr. Tate a job was credited with finding $2 billion rounded the 2005 transit strike.”
there could ultimately total as much financing them. as $200 million. Last month, the “If rents are set to legal levels, tenants and Tishman Speyer agreed then we know how to value them,” that rents for these apartments insists Mr. Hershey-Webb, who CBS Radio finds clearer signal would be rolled back to estimated represents tenants. “The problem is rent-stabilized levels in January and some of these properties were over- February. valued based on speculation and Continued from Page 3 erhouse 106.7 Lite FM. says Mark Lefkowitz, media director But the Stuy Town court deci- misreading of the law.”
faces a tough road ahead after being And 92.3 Now FM, launched in at Furman Roth Advertising, who pounded by the recession and com- March, hopes to eat into the vast au- thinks it’s only a matter of time before petition from the Web for the past dience of Clear Channel’s other pow- 92.3 puts pricing pressure on Z100. two years. erhouse (and 2008 revenue winner) CBS Radio is no exception. To- Z100. TV personality Nick Cannon Rival determined to rebound tal revenue for the division slid 23%, last week launched a new morning meanwhile, Clear Channel Com- to $901 million, in the first nine show on Now FM.The station so far munications, which was taken pri- months of 2009, compared with the is a distant sixth in the rankings vate in 2008,has cut costs company- prior-year period.The company has among 18- to 34-year-olds, but it has wide as it struggles with an $18 slashed costs and cut jobs through- drawn even with Z100 among teens. billion debt load. Even so, its radio out the downturn and has had bouts The overall strategy, according to division is set on grabbing back the of low morale, insiders say. Mr. Mason, is to attract advertisers revenue crown. Nonetheless, Mr. Mason is opti- that want to reach female listeners. “We’ve made significant mistic, saying that CBS will show CBS has launched similar Top 40 sta- progress on the sales organization growth in 2010. tions in Chicago and Los Angeles. side in the past six months,” says Media buyers say that Fresh has New York Market Manager Joe Freshening up definitely had an impact, ranking a Puglise, pointing out that Clear fresh 102.7 fm, which replaced respectable fourth place in December Channel’s stations, unlike those at RENT RELIEF: Tenants at Lenox Terrace say as many as long-troubled WNEW in early among women 25 to 54 years old. CBS, didn’t need fixing. “It’ll be in- 300 units were illegally 2007, has become a viable competi- “Lite has got to be taking a rev- teresting to see how we duke it out deregulated.
tor to Clear Channel Radio’s pow- enue hit on female-focused business,” in 2010.” redux

20 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0021-NAT-CCI-CN_-- 1/21/2010 8:37 PM Page 1

+2.5% Growth in U.S. productivity per hour in 2009, outpacing growth in Europe BUSINESS LIVES Source: The Conference Board HOT JOBS EXECUTIVE INBOX Anne Fisher SENIOR MANAGER, DIGITAL FINANCE ORGANIZATION National Want happier Basketball Association JOB DESCRIPTION Primary customers? Try finance position for NBA; liaison having more fun with Turner Sports for digital venture partnerships HEATHER FAULDING was sitting at MOST IMPORTANT TASKS her desk at Faulding Architecture Business planning, budgeting and on East 19th Street one day last forecasting for NBA Digital fall when a bunch of staffers from CREDENTIALS NEEDED Finan- M5 Networks (www.m5net.com) cial/accounting experience at a TV burst in, said they were on a network; CPA or MBA preferred scavenger hunt and started SALARY Senior finance managers making odd requests. in New York typically earn upward M5 Networks provides VoIP of $90,000 phone service to some 1,100 RECRUITER Internal New York City businesses, including Isaac Mizrahi and DOWNSIDE The sports industry is Brooklyn Brewery, as well as Ms. competitive Faulding’s firm (www.f2inc.com). UPSIDE Working for the leading “They were asking for things U.S. basketball association that showed they really know us,” The NBA is a premier sports and Ms. Faulding says. “One item entertainment enterprise, with 30 ROXIE PROXY: Laura was, find someone who speaks North American teams, including Summerhill, a street an African language. I’m from the New York Knicks and the New promoter for Chicago, South Africa, so that was me.” recently auditioned for Jersey Nets. Midrecession might seem like —EMILY LAERMER the musical itself. an odd time to run around the city on such a wacky mission. “It’s true that 2009 was a hard year for us,” says M5 CEO EXECUTIVE MOVES Dan Hoffman. M5 brought in $23 million in 2008, but then the SBLI USA Mutual Life Insurance Co.: Evelyn bad times hit. “About 700 of our Murphy, 69, was clients cut 10% or more of their appointed chairman work force. We disconnected of the board of thousands of phones,” he says. directors. She was GOTHAM GIGS He then decided “to use the most recently vice downturn as an opportunity to chairman. Ms. get better at the fundamentals,” Murphy is the founder and president of the Wage Project Inc. like customer service. The Child Study Center Foundation: “What gets measured, im- Dr. Harold Koplewicz, 57, was named Mad Ave & Broadway proves,” Mr. Hoffman says. “When founding president of the children’s you give people an interesting way buck ennis mental health nonprofit. He will to measure how they’re doing, continue in the role of director of the they compete to get better.” Nathan S. Kline Institute for Psychiatric three days a week, seven hours a day, Laura Summerhill, dressed Research. The dancer Mr. Hoffman has introduced Weiser: Wayne Locke, 46, joined the in red tights, black shorts and a bowler hat, shows off Bob Fosse’s the usual sorts of sales contests, accounting and consulting firm as a hands out dance moves to entice the throngs in Times Square to see Chicago: and has also invented games partner. He was most recently a The Musical. ¶ “I try to be engaging, so people will take a flier,” says that depend on wowing clients. managing director at Smart Business 1,300 The winners of the scavenger Advisory and Consulting. the California native. She hands out 1,300 fliers a day, and elicits at hunt got to go skydiving last fall. Alex Unterkoefler, 41, joined as a partner. least 10 marriage proposals. ¶ When she’s not working the crowds, He was most recently a senior managing fliers a But the real winner is M5, director at Smart Business Advisory and Ms. Summerhill sings with the Ray Cavicchio orchestra at bar which hit $26 million in sales in Consulting. day—and mitzvahs and corporate gatherings. Periodically, she dons a nurse’s 2009. Mr. Hoffman tracks his Ad Council: Charlie uniform to encourage doll “adoptions” at FAO Schwarz. ¶ After firm’s Net Promoter Score, Rutman, 58, joined as elicits at which assigns companies a executive director of performing with Ben Vereen on a cruise ship and taking part in rating based on clients’ answers media. He was most least 10 theatrical productions across the country, Ms. Summerhill settled to the question: “On a scale of 1 recently chief executive of MPG proposals here 11 years ago, assured of a Broadway role that didn’t materialize. to 10, how likely are you to North America. Last January, she auditioned for event-marketing firm Theatre recommend this company to a Jamaica Center for Arts friend or colleague?” The average & Learning: Nadege Noel, 31, was named Mama, which has about 20 street promoters in its “dance mob.” ¶ In NPS in the telecom industry is -4, general manager for the Jamaica winter, Ms. Summerhill prevents frostbite by wearing layers, often says Mr. Hoffman. M5’s is 42. Performing Arts Center. She was most donning four pairs of tights. “I’d like to be inside when it’s cold,” says recently special events coordinator at DOES YOUR FIRM USE CONTESTS as New York-Presbyterian Community the dancer, who recently auditioned for the show she promotes. motivators? Do they work? Tell us at See EXECUTIVE MOVES on Page 22 —cara s. trager www.crainsnewyork.com/execinbox.

January 25, 2010 | Crain’s New York Business | 21 20100125-NEWS--0022-NAT-CCI-CN_-- 1/22/2010 1:26 PM Page 1

RÉSUMÉ REVIEW Period of adjustment at Saks Is your job search all it could be? We ask the experts. How have shopping habits changed in have marketing programs localized NAME PAMELA A. TUCKER CEO puts stress the last 18 months? store by store. SUMMARY on quality, value in We’ve seen a shifting in some price Accomplished leader with extensive points—from a little bit of the Any expansion plans in the works? experience in retail and apparel research higher price points to the more en- We’re going to be adding a number tough time for retailers PROFESSIONAL EXPERIENCE try or middle price points. Con- of new outlet stores in our Off 5th  sumers still want a Prada, or a division—about five stores per year. Lord & Taylor, Manhattan, 2007-2008 BY ADRIANNE PASQUARELLI Chanel or a Gucci,but there’s a shift That’s where you’ll see growth, not Manager, credit services and gift cards, marketing division of price within the brand. We’ll a lot in our full-line stores. Developed strategies to expand gift-card business through internal fter watching same- continue to see fashion that can be Internet and third-party distribution channels store sales decline month used from day to night or for multi- Is your Web site all it could be?  DeSola Group Inc., 1997-2007 after month through 2009, ple occasions. Even with the difficulties in 2009, Strategic management consultant upscale department store we saw double-digit growth in our  Chase Manhattan Bank ASaks Fifth Avenue saw December How are you Internet business.It’s not just selling Vice president, consumer credit division, 1996-1997 sales tick up nearly 10%. Now Chief addressing this for products on the Web; it’s also about Vice president, retail, apparel and textile analyst, 1987-1996 Executive Stephen Sadove is look- 2010? marketing and cross-marketing EDUCATION ing ahead to the rest of 2010 and the Within Saks, we’ll with the full-line store. Last year,  changing do a lot more prod- we added a lot of new views in Fordham University, MBA in finance  landscape for uct exclusives— terms of how consumers can look at Boston University, BSBA in finance luxury shop- things you can’t products, but there’s still room for  Fashion Institute of Technology, certificate in retail advancement ping. find anywhere else. improvement. essentials MOVERS & Résumé appears in condensed form. SHAKERS We’ll Were you happy also What’s on your EXPERT ADVICE with the 2009 personal wish list Stephen holiday season? this winter? Pamela should prove her analytical strengths and highlight her finance We’re starting Cashmere,with a abilities on her résumé. Since she has over 20 years of experience in retail, Sadove to see an im- twist, is some- marketing and banking, and she received both her undergraduate and proved envi- thing I ab- graduate degrees in finance, she clearly wants to be a well-rounded ronment, but solutely love. professional. What profits have her employers enjoyed because she met we’ve got a long way to go. New It could be a their wants and needs? Where is the focus on the bottom line? That is York especially,which had been an cashmere sorely missing in her résumé. A well-written résumé can provide excellent underperforming market, is back sweater with points to discuss in an interview. to performing better, and a lot of a collar, or —connie thanasoulis-cerrachio,career services expert, Vault.com that is driven by tourism. The cable-knit a month of December really reflected special way, To contact this candidate or to be featured in “Résumé Review,” e-mail us that. We’re seeing the return of ac- or with but- at [email protected]. cessories:shoes and handbags.Also, tons, so it’s value—that is,price,quality and de- not just the plain sign—is selling. cashmere.

EXECUTIVE MOVES managing partner at Dickstein Shapiro. corporate department. He was formerly a McDermott Will & Emery: Margaret C. consulting firm as a tax partner in the Randy Paar, 60, joined the insurance partner at Dorsey & Whitney. Wilson, 39, rejoined the law firm as a not-for-profit industry practice. He was recovery litigation group as a partner. Cohen Brothers Realty partner. She was most recently associate previously a managing director at Continued from Page 21 She was previously a partner at Corp.: Joel S. general counsel at Verizon WTAS. Health Plan. Dickstein Shapiro. Herskowitz, 62, joined Communications. Arnold & Porter: John J. Sidley Austin: Stephen A. Rutenberg, 34, Duane Morris: William Heuer, 41, was the commercial Shearman & Sterling: Robert N. Busillo, 50, was named was promoted to partner from associate promoted to partner in the law firm’s property management Freedman, 38, was promoted to partner partner at the law in the law firm’s mergers and business reorganization and financial firm as senior vice in the law firm’s project development firm. He was formerly acquisitions and private equity practice. restructuring practice group. He was president of leasing. He and finance practice. He was formerly a partner at Baker & McKenzie: John Basinger, 40, was formerly an associate. was most recently at counsel. Cadwalader promoted to partner from associate in Baker Hostetler: Benjamin D. Pergament, Cushman & Wakefield Daniel H.R. Laguardia, 38, was Wickersham & Taft. the law firm’s litigation and arbitration 36, was promoted to partner from Inc., where he had been a senior director. promoted to partner from counsel in the Nelson Levine de Luca practice. associate in the law firm’s litigation Zeno Group: Bob Bicknell, 41, was named litigation practice. & Horst: Kymberly Kasowitz Benson Torres group. senior vice president and national media Russell D. Sacks, 37, was promoted to Kochis, 33, joined the law firm as a & Friedman: Robin Reed Smith: Juan Reyes, 41, joined the law director at the PR agency. He was most partner from counsel in the market partner in the institutional litigation and Cohen, 48, joined the firm as a partner in the real estate group. recently senior producer and managing regulatory and capital markets practice. consulting practice. She was formerly an law firm as a partner in He was previously a partner at Riker editor at CBS News’ The Early Show. Diageo: Peter McDonough, 51, was associate at Dewey & LeBoeuf. the insurance recovery Danzig. Herrick Feinstein: William Fried, 47, was promoted to president and chief marketing Schulte Roth & Zabel: Daniel F. Hunter, litigation group. She Morrison Cohen: Richard Baumann, 50, promoted to partner in the law firm’s and innovation officer at the spirits, beer 40, was promoted to partner in the law was most recently a joined the law firm as a partner in the litigation department. He was most and wine company. He was formerly firm’s investment management group. recently counsel. president of North America innovation. He was most recently special counsel. Arent Fox: George Angelich, 41, was Manatt Phelps & Phillips: Thomas C. Fitzpatrick Cella Harper & Scinto: Jason CORPORATE LADDER promoted to partner from associate in Morrison, 68, joined the law firm’s M. Okun, 34, was named partner in the the law firm’s corporate reorganization litigation division as a partner. He was law firm’s patent prosecution and and bankruptcy practice. previously a partner at Patterson pharmaceuticals and chemicals practice. NONPROFIT EXEC MOVES Berdon: Daniel Genesi, 40, was promoted Belknap Webb & Tyler. He was formerly an associate. TO REAL ESTATE INDUSTRY to principal from manager at the ERE: Katherine Walsh, 40, joined the Stroock & Stroock & Lavan: Pierre R. accounting and advisory firm. Michelle Adams accounting and consulting firm as director Yanney, 43, joined the law firm as a , 37, was named managing director of Loeb & Loeb: Akiba Stern, 54, joined the of business development. She was formerly partner in the intellectual property public affairs at Tishman Speyer. She will be law firm as a partner in the advanced manager of business development at Grant practice group. He was most recently at responsible for community outreach, government media and technology department and a Thornton. Darby & Darby, where he was a member affairs, public relations and corporate philanthropy at member of the technology and MSG Entertainment: Randy Fibiger, 36, of the executive committee and chair of the real estate development firm. She was most outsourcing practice group. He was joined as vice president of concert the recruiting committee. recently executive director at the Association for a most recently a partner at Morgan bookings, theaters. He was most recently a Stout Risius Ross: Aziz El-Tahch, 30, Better New York, a nonprofit coalition of New York City business, labor, Lewis. talent buyer at Live Nation Mid-Atlantic. was promoted to director from manager Pernod Ricard USA: Dentsu America: John of the valuation and financial opinions government and civic leaders that promotes growth and revitalization in Jonas Renner Tahlin, Tuchtenhagen, 33, was group. the city. Since joining in 2002, Ms. Adams helped the organization grow to 35, was named vice promoted to vice —maia blume almost 300 members and develop closer working relationships with leaders president of president and group marketing, vodkas. He media director at the at the city, state and federal levels. Prior to joining ABNY, she was the vice EXECUTIVE PROMOTIONS president of corporate affairs for the Grand Central Partnership and deputy was most recently at advertising agency. He director of the 14th Street-Union Square BID/LDC. The Absolut Co., was formerly a media The fastest way to get an announcement into where he was regional supervisor. —maia blume Crain’s is to submit details online. Fill out the form vice president and J.H. Cohn: Thomas at www.crainsnewyork.com/submit. The commercial director, the Americas. Lanning, 54, joined the accounting and Executive Moves column is also available online.

22 | Crain’s New York Business | January 25, 2010 20100125-NEWS--0023-NAT-CCI-CN_-- 1/22/2010 5:45 PM Page 1 chemex / INSATIABLE CRITIC [email protected]. flickr.com Gael Greene THE PROGRAMS & WORKSHOPS TUESDAY, FEBRUARY 2 NY REPORT will hold a program at 8 a.m. WEEK at The Coleman Center, 810 Seventh Ave., on avoiding the legal pitfalls that can kill your business. The fee is Kitchen sharpens $249. For more information, call AHEAD (646) 230-1019 or e-mail FEB. 1-7 [email protected]. WHAT HE’S homage to Rome WEDNESDAY, FEBRUARY 3 Join LIGHT OF GOLD PR for a workshop on WEARING CONFERENCES fundraising with Facebook, Twitter and IT’S COLD OUTSIDE, but Yigal Meyer’s new Maialino WEDNESDAY, FEBRUARY 3 LinkedIn from 9:30 a.m. to 12 p.m. at Join B’NAI B’RITH REAL ESTATE UNIT for a 116 W. 23rd St., fifth floor. This event Azrouël, who launched his is finding its footing, lunch conference on life after Stuyvesant will also take place on March 31. Fees eponymous label 12 years ago Town from 12 p.m. to 2 p.m. at The are $49 in advance and $59 at the door. and now designs both menswear amid roar of the crowd Cornell Club, 6 E. 44th St., Ivy Room, Preregistration is required. For more and womenswear, knows how to fourth floor. Fees are $60 in advance and information, contact (646) 378-7895 or stay warm. His winter wardrobe is brace for the roar of the $70 at the door. Call (212) 885-7239 or [email protected]. filled with cozy cashmere scarves, bar at Maialino, the latest e-mail [email protected] for further details. SEMINARS hand-knit sweaters and leather notch on Danny Meyer’s belt. WEDNESDAY, FEBRUARY 3 shearling jackets. He’ll also wear a But a host quickly leads us past THURSDAY, FEBRUARY 4 THE FIVE O’CLOCK CLUB will hold a long-sleeved Henley T, paired with the melée, into the compara- THE BUSINESS DEVELOPMENT INSTITUTE seminar from 6:30 p.m. to 8:30 p.m. at jeans or corduroys and sneakers. tive calm of the trattoria dining room. I buck ennis will host a breakfast conference on 11 Penn Plaza, fifth floor, on a four-step “For me, it’s all about comfort,” A friend pops up from a nearby TGI FRY-DAY: tasty carciofini fritti health-care social communications from salary negotiation method. The fee is he says. “When you wear some- corner,kiss kiss;as we wait for our an- 8:30 a.m. to 12:30 p.m. at New York $50. Call (908) 696-9469 or e-mail thing that you’re comfortable in, tipasto,he passes his order of suckling University’s midtown campus, 11 W. [email protected] for further you’re much more confident.” pig to our table. (Maialino means MAIALINO 42nd St., room 421.The fee is $195, and details. Gramercy Park Hotel preregistration is required. Contact (800) For women, Mr. Azrouël little pig.) It’s a daunting platter— CULTURAL EVENTS “$72 for 2 or 3,” the menu indicates. 2 Lexington Ave. 830-6687 or [email protected] for recommends washed-leather more information. TUESDAY, FEBRUARY 2 Pick I help myself to a shard of crisp skin, (212) 777-2410 jackets over daytime jersey www.maialinonyc.com JOYCE THEATER presents the of the dresses for a rock ’n’ roll look, or a juicy chunk of meat and some FORUMS opening night of week stringy pieces.It’s splendid.But since WEDNESDAY, FEBRUARY 3 Remember Me, a rock dance sweaters and pleated trousers for I enjoyed so many recent pig-outs in ½ THE FORDHAM INSTITUTE FOR FAMILY & opera featuring Parsons Dance a more casual style. this year of the porker, I don’t crave CUISINE Roman PRIVATE ENTERPRISE will hold a forum and rock opera band East Village Opera His color scheme? “Darker for from 6 p.m. to 8 p.m. at Alliance Company.The show starts at 7:30 p.m. fall and winter,” he says, citing more,and feel free to tackle the menu. PRICE RANGE Entrées $23-$32 It’s my second visit, but the first Bernstein, 1345 Sixth Ave., 41st floor, at 175 Eighth Ave. Tickets range from navy, gray and black as his current for fellow Top Chef judge Gail Sim- SERVING Dinner, 7 days; break- on business risk-reduction techniques, $10 to $59 and can be purchased favorite hues. New Yorkers can see cost savings and wealth creation. The by visiting www.joyce.org or by calling mons. We’re sharing new dishes as fast, lunch Mon.-Fri.; brunch Sat.- some of them on Feb. 12, when Sun.; bar open 7 days ’til midnight event is free. For more information, (212) 242-0800. well as a few I tasted in November. call (212) 636-8836 or e-mail —maia blume Mr. Azrouël’s fall 2010 designs It would be mean to deny her the RESERVATIONS Recommended debut at NY Fashion Week. deep-fried artichokes with anchovy To view Crain’s full calendar listings, go to www.crainsnewyork.com/events —ADRIANNE PASQUARELLI bread sauce for dipping.I urge her to NOISE LEVEL Loud in bar, taste the marvelous twiggy-thin moderate in trattoria cheese-flavored bread sticks from I can’t wait to return. the house basket.And I let her order I will definitely go back. the panelle alla gricia—guanciale I’ll let them simmer awhile. pecorino rolls—even though they NO HATS Never again. SIXTH ANNUAL were blowsy and unpleasant the first time I tried one,at $3 each.Surprise: Now they are delicious little savories, For dessert, I’d vote this tartufo BUSINESS LEADERSHIP AWARD smaller, served warm, two for $3. better than anything I’ve tasted re- As the heralded arrival of the cently in Rome’s Piazza Navona. holiday season—a Meyer effort or- We go back again to check out Thursday, February 11, 2010 8:00 am dained by Ian Schrager for this odd the bar menu. Maialino’s noisy en- Credit Suisse space, formerly home to Wakiya, at try is chockablock with small bare One Madison Avenue his Gramercy Park Hotel—Maiali- tables, two-tops, eating ledges and no has enjoyed a high-wattage rush tiny rounds, as well as stools at the Auditorium of boldface names since its opening bar proper. After 45 minutes, we’re between 23rd and 24th Streets in November. finally seated, away from the actual Nothing I ate on my first visit bar.And for the first time,I’m loving made me hunger to come back, ex- Anderer’s food. Suppli al telefono, JOIN LINCOLN CENTER cept the lush raviolo wrapped fried rice croquettes with a heart of around a poached egg that chef Nick mozzarella that melts and stretches Anderer sent as a gift. This time into “telephone wires,” shuts off any IN HONORING around, I see what Anderer has lingering grumbles. Carciofini fritti learned in six weeks.Another volup- again, consistently good. Swordfish tuous poached egg waits to give its all belly sliced in small squares is ele- CHUCK LUDMER to a fine salad strewn with mullet roe gant on rather scant fennel purée. Principal, J. H. Cohn LLP, and celery root. But salt overwhelms The chef appears at our table, for his outstanding commitment to the arts the spaghetti alla vongole. And like and soon we’re sharing marvelously and culture in New York City anyone who has her own idea of what juicy chunks of pork in a ciabatta a carbonara should be, Gail and I sandwich.Fatty hunks of oxtail with want more guanciale, more egg. Swiss chard are delicious, too. Lead Supporters: Another giveaway from the “We still have a lot of work to This event is hosted by the Bridge Associates LLC Lincoln Center Business Council. chef—the uneven cuts of noodle do,” Anderer is quick to say, reflect- Cadwalader For more information, please contact called malfatti, tossed with suckling ing on the lunch duties recently Crain’s New York Business Alexandra Olin at 212.875.5431 pig under a hedge of arugula—is the added to breakfast responsibilities. Credit Suisse or [email protected] pasta we’ll remember. Olive oil- I agree with him. But the staff is J.H. Cohn LLP poached halibut shimmers hand- already in that fine “anything-you- Movado somely and is almost as rare as we say” and “thank-you-for-coming” Phillips-Van Heusen Corporation want it. My guy Steven seems hap- Meyer service mode, and the kitch- py enough with the lamb chops en has definitely sharpened. Lincoln Center This event commemorates: scottadito, but I’m disappointed Corporate Fund that the kitchen can’t caramelize Copyright © 2010 by Gael Greene. them and still keep the meat rare. Syndicated by www.insatiable-critic.com.

January 25, 2010 | Crain’s New York Business | 23 Project3 1/19/10 12:32 PM Page 1

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