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TOP STORIES REPORT Booming India HEALTH CARE lures Blackstone, Spitzer, insurers other NY investors battle over rates; PAGE 2 NY’s top carriers ® Coach handbags PAGE 15 still fab, but stock falls out of favor on Wall Street VOL. XXIII, NO. 35 WWW.NEWYORKBUSINESS.COM AUGUST 27-SEPTEMBER 2, 2007 PRICE: $3.00 PAGE 3 MARKET FALLOUT When did opera get so hot? More rooftop bars in New York’s future Cracks appearing NEW YORK, NEW YORK, P. 6 Extending Medicaid in office rents to middle-class children is not Brokers report INDUSTRIAL a good idea room to negotiate as STRENGTH ALAIR TOWNSEND, P. 11 fears mount over Sectors leasing the most square feet of office space in Manhattan Obama gets warm Wall Street layoffs in first-half 2007. reception, raises MIDTOWN money in Brooklyn BY THERESA AGOVINO Financial 1,828,141 THE INSIDER, PAGE 13 two months ago, Mark Fried- man began negotiating for an of- Law 1,434,382 fice lease in midtown south for Other 1,166,515 BUSINESS LIVES about $60 a square foot. The par- LIGHTENING UP ties are now discussing a rent in the Entertainment 451,393 low-$50 range, according to Mr. Banking 442,210 Co-workers use buddy Friedman, vice chairman of GVA system to lose weight Hedge funds 428,876 PAGE 27 Williams Worldwide. TOM GENIESSE, “I’m feeling the ability to nego- DOWNTOWN owner of tiate again,” he says. “Building Bottlerocket, says agents are calling me now—that Financial 1,510,239 he can sell wasn’t the case three months ago.” products faster Other 498,227 because he has The credit crunch that is roiling less inventory. the stock market,paralyzing merg- Insurance 290,194 er and acquisition deals, and catherine gibbons catherine stalling building sales is also slow- Law 143,961 UNCORKING A TREND ly chilling Manhattan’s hot com- Printing 121,272 mercial rental market. The finan- Source: CB Richard Ellis See CRACKS on Page 8 AT DEADLINE CITY UNIVERSITY OF NEW New wine stores YORK’S College of Technology has hired 40 new full-time tenure-track faculty members M&A boutiques for the 2007-2008 academic toast of the town year, bringing the total to 344. The hiring marks the largest spirits, came in a dismal third. in for tough times single-year bump in four Stylish showrooms Even more surprisingly, Sherry- decades and comes in response draw with themed Lehmann Wine and Spirits lost its to a 20% increase in students crown not to a longtime rival but to 3 major NYC firms over the past four years, to displays; bitter taste a pair of young upstarts that be- 13,600. CUNY is adding full- for veteran retailers tween them carry less than a quar- may not have much time instructors throughout ter as many bottles. work for a while the university in an effort to The dethroning reflects a huge reduce reliance on part-time BY LISA FICKENSCHER shift in the wine business across the faculty. city. Trendy, design-driven stores BY AARON ELSTEIN for 15 years, Sherry-Lehmann such as Moore Brothers Wine Co. SCALING BACK ON ITS GROWTH reigned supreme as New York and Bottlerocket—the new No. 1 august is traditionally a quiet PLANS, JETBLUE AIRWAYS held City’s top-rated wine store. and No. 2 wine meccas—are driv- month for Wall Street’s dealmak- the number of its employees at No more. ing a corkscrew into the heart of ers—but not this quiet. Grim- 9,700 last year, the first time it When Zagat Survey published traditional wine selling. faced bankers are getting accus- did not increase its staff, its 2008 New York City Gourmet Instead of trying to please all tomed to the idea that the credit according to a report released Shopping & Entertaining guide last palates,the new breed offer a select crisis has ended the three-year cor- by the U.S. Department of month,the venerable store,with its group of labels—which may not porate merger boom. An estimat- See AT DEADLINE on Page 2 dark-wood paneling and cache of even include some of the best ed $73 billion in deals have been more than 4,000 fine wines and known. Instead of drab shop win- struck this month,half the amount

dows decorated with sun-bleached of the same month a year ago. lindström bekka satin cloths draped over boxes, the The sudden slowdown puts 35

5 new breed lure customers with profits and bonus pools at risk at all and acquisitions, have had their stores long on style and short on investment banks, but those that share prices hammered amid fears clutter—and open wine cases.The will be hurt the worst are three that business will slow. ELECTRONIC EDITION new crowd also makes shopping Manhattan-based boutique firms: “The logic behind a lot of deals fun by adding gimmicks like a dog Evercore Partners Inc., Greenhill was cheap credit, which is fast dis- tie-up area. & Co. and Lazard Ltd. These appearing,” says Andrew Clare, a NEWSPAPER See NEW WINE on Page 9banks, which specialize in mergers See PARTY’S on Page 8 71486 01068 0 CNYB 08-27-07 A 2 8/24/2007 7:01 PM Page 1

AT DEADLINE Continued from Page 1 slated to open in the Flatiron New York investors Transportation last week.The District in November. Owner Queens-based discount carrier Claire Chambers has signed a says it offered its 2,000 flight 10-year lease for 2,000 square attendants feet at 3 E. 17th St., just off of jumping into India voluntary Fifth Avenue. Asking rent was year-long about $150 per square foot. furloughs David Baker of Isaacs & Co. with bloomberg news represented the tenant, and Blackstone, others get in on the action early health benefits, and about 100 Darrell Rubens of Winick accepted. JetBlue continued to Realty Group negotiated on BY SAMANTHA MARSHALL add flights but pared its behalf of landlord Maurice operations to 78 crew members Laboz. global market jitters are doing little to dampen New York per aircraft from 90 in prior years. THE METROPOLITAN investor interest in India, where real estate continues to be one of TRANSPORTATION Authority is in the hottest growth sectors, retail is booming and billions of BETHPAGE FEDERAL CREDIT talks with Internet search dollars of foreign capital keep pouring in. UNION IS SHARPLY increasing its engine Google to develop mortgage-lending efforts in online transit guides for New Blackstone Group Holdings, led by Stephen Schwarzman, is response to a 50% surge in York City. Google, based in just one of the latest firms here to jump in with both feet. Last applications, while banks pull Mountain View, Calif., week, the private equity giant announced the $116 million back from residential lending. introduced its online guides in purchase of a 50.1% stake in India’s largest garment The 146,000-member credit 2005 and has already produced union—open to anyone living, them in Dallas, San Diego and exporter, Gokaldas Exports Ltd., with plans working or doing business in other cities. Google makes to secure another 20% of the company for Nassau or Suffolk counties— money by selling advertising on $49 million. has increased its year-end the sites, where restaurants, Also last week, Lehman Brothers mortgage lending target to $280 hotels and other local businesses million from $183 million, a can buy ad space aimed at Holdings Inc. purchased 26% of a unit of 53% increase. potential travelers. But New India’s Edelweiss Capital, a deal worth York would be the Internet about $44 million, according to reports TENANTS OF STUYVESANT TOWN company’s largest transit guide AND PETER COOPER VILLAGE project to date. in Indian media. Just a week earlier, will appeal a judge’s decision to Lehman announced it would buy the throw out their lawsuit ROSIE O’DONNELL WILL HEADLINE institutional equities arm of Indian attempting to reverse the sale of THE OPENING NIGHT of the fourth brokerage firm Brics Securities for an the complexes to Tishman annual New York Comedy Speyer for $5.4 billion. Eric Festival, marking her first stand- undisclosed amount. Levine, a partner at Wolf up show in years.The Nov. 6-11 “The trend is growing in a Haldenstein, who claims the festival has added three venues: multitude of interests, particularly buildings’ owners violated the The Beacon Theatre, where See INDIA on Page 7 law by raising rents on some comedians Bill Maher and rent-stabilized apartments while Denis Leary will perform, the receiving tax benefits, says that 92nd Street Y and Mo Pitkin’s. New York State Supreme Court Last year, 60,000 people INDIA A GO-GO Judge Richard Lowe III attended the event at eight incorrectly interpreted the law. locations. Attendance is Top three industries for New York investors in 2007. expected to rise sharply this year TOTAL JOURNELLE, A STORE THAT WILL and American Express is SECTOR DEALS AVERAGE INVESTMENT OFFER LINGERIE designed for offering exclusive tickets to its women over 35 years old, is cardholders. I Industrial/energy 8 $34.5 million $275.7 million Telecommunications 2 $48.2 million $96.4 million Consumer products THIS WEEK IN CRAIN’S and services 4 $14.8 million $59.3 million As of Aug. 21. Source: Thomson Financial STEPHEN SCHWARZMAN’S Blackstone ALAIR TOWNSEND ------11 Group purchased a 50.1% stake in India’s largest garment exporter. WEEK IN REVIEW ------12 redux THE INSIDER------13

SMALL BUSINESS ------14

REAL ESTATE DEALS------14 Waiting rooms go high-tech

REPORT: HEALTH CARE------15 “I think every physician in Man- Manhattan in the next year. TOP INSURERS LIST------29 20 TV, Web channels hattan will be putting these screens Meanwhile, a second media op- up in their offices,” says MedLink eration is targeting doctors. The CLASSIFIEDS ------23 offer news on-site Chief Executive Ray Vuono. Doctor’s Channel, a Manhattan- NEIGHBORHOOD to patients, doctors MedLink is also marketing its based Web site launched last week at service to medical societies, www.thedoctorschannel.com, JOURNAL------26 BY BARBARA BENSON which can provide members provides streaming video, with continuing education letting physicians exchange BUSINESS LIVES------27 5K new york doctors’ offices may and information on upcom- MEDLINK TV information through profes- CORPORATE LADDER------29 installations soon have a new look featuring flat- ing events. To help gain ac- expected in sionally produced video seg- EXECUTIVE MOVES------30 screen televisions in their waiting cess, MedLink signed a Manhattan in ments. Doctors can also earn rooms, delivering content about the consulting agreement with the next year continuing education credits THE WEEKS AHEAD ------30 31 physicians’ specialties. Scott Einiger, a senior part- by viewing conference videos. BOB LAPE ------31 MedLink TV, developed by Is- ner who heads the New York City Founded by Drs. David Best and landia, L.I.-based MedLink Inter- health law practice at Abrams Fen- Michael Banks through their com- vol. xxiii, no. 35, august 27, 2007—Crain’s New York Business (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals national Inc., offers real-time news sterman Fensterman Eisman Green- pany,MDea Inc.,the channel runs a postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address and headlines from Reuters, plus berg Formato & Einiger. He is also daily two-minute roundup of health changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a advertising and patient material. general counsel for the New York and medical news, hosted by Dr. copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents New medical content is added dai- County Medical Society. Banks. copyright 2007 by Crain Communications Inc. All rights reserved. ly.The system also provides patients Mr. Vuono hopes that MedLink with free Internet access. TV will have 5,000 screens placed in COMMENTS? [email protected]

2 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 3 8/24/2007 7:56 PM Page 1 A slowing Coach Title’s Company could lose sive 38% jump in profits. tions to appeal to wealthier cus- local But the fervor is cooling.For ex- tomers. At the same time, it’s hold on the handbag ample, in fiscal 2004, sales in- launching new fragrance, jewelry creased 39% and earnings soared and beauty lines to attract less afflu- market as rivals 79%. In fiscal 2005, net sales rose ent shoppers.The company will also push 30% and profits swelled 49%. open at least 60 stores in the coming move in; shares fall Nearly half of the 25 analysts year, adding 46 in North America who cover the firm believe that fu- and at least 15 in Japan. BY ELISABETH BUTLER CORDOVA ture gains are already priced into Chief Executive Lew Frankfort BusinessWeek the stock. “While we like Coach’s expects the U.S.market to continue Chicago, a monthly, after seven years of ascension, fundamentals, we think there is no to generate double-digit same- Coach Inc.’s stock price has taken a hurry to own the stock right now,” store sales growth in Coach’s full- to debut in the fall big hit. noted analyst Brian Tunick in a re- price stores and factory outlets for The company’s share price has cent J.P.Morgan Securities Inc. re- the next two years. BY BRANDON GLENN dropped 17% since April, when it search report. His firm rates the “We remain confident that the reached a record high of $54 a stock “neutral.” category growth will remain robust businessweek has picked Chica-

share. It closed Friday at $45. In- lindström bekka over the next two years, and see no go as the launching pad for a push vestors are asking the same ques- Competitors encroaching signs of slowing,” Mr. Frankfort into local markets. If successful tion they always do when this stock one sign of trouble for the firm ber of the founding family.Private- said in an e-mail. there, the publication is likely to ex- pauses:Can Coach continue its tor- comes from competitors, which are ly held Furla operates 28 stores The upcoming holiday shop- pand the concept into other regions. rid growth streak? encroaching from all sides. Italian stateside and expects to increase its ping season will determine whether BusinessWeek Chicago will be an This time, analysts fear that a purse maker Furla, which sells U.S. sales by 23% this year. Coach’s recent stock slip is a blip or “intensely local” monthly magazine slowing economy and growing leather goods in Coach’s price The much-envied Coach has a a blight. with a focus on longer, analytical ar- competitive pressure will finally range, has been opening growing number of domestic ticles, says Michael Arndt, a senior take a toll on the brand and threat- stores here and targeting rivals, too. Liz Claiborne Inc. Holiday for handbags correspondent at BusinessWeek’s en its hold on the $6 billion hand- Coach’s market. is opening more stores for its “handbags will still be the darling Chicago bureau who has been bag market. The pioneer in the af- “Coach showed us Juicy Couture and Kate of holiday shopping this year,” says named the editor of the new title. fordable luxury market that sells how to do it,” says Spade brands. Discount Marshal Cohen, chief analyst at “We feel there’s a void that can be most of its bags for $200 to $400 Michele Furlanetto, retailers such as Target trend tracking firm NPD Group. filled,”Mr.Arndt says.“I don’t think will feel more of a pinch than super- acting president of are also pushing fur- “Coach is in a good spot,but they’ve our readers would stop reading luxury firms such as Prada,Hermès Furla USA ther into fashion got to take advantage of it.” Crain’s Chicago Business or the or Chanel if the economy goes sour, and a mem- to break off a To spur holiday sales, the firm is Chicago Tribune to get what hap- they say. bigger piece of introducing the Bleecker bag and pened last week or yesterday, but Coach is still growing. For the lucrative accessory line, which hits stores in they would look to us for what it the 2007 fiscal year, handbag busi- October. The new collection is means and what’s important, and to which ended in July, ness. made from hand-burnished leather provide a deeper analysis and richer the company rang Of course, and sells for about 25% more than writing.” up $2 billion in Coach is trying the average Coach bag. The new The move comes as major busi- sales and earn- several of its jewelry and fragrance lines are ex- ness publications endure another ings of $494.3 own maneuvers pected to attract new shoppers to year of declining ad sales and the million, or to maintain the stores and generate nearly 5% of launch of Condé Nast’s Portfolio $1.27 a share. momentum. It Coach’s total sales for the current roils the category. That’s a 23% is rolling out fiscal year. gain in sales FALL STYLES: Coach’s bags are still trendy. three pricier Free 60,000 distribution and an impres- It rang up $2 billlion in sales in fiscal ’07. purse collec- COMMENTS? [email protected] the mcgraw-hill cos. will launch the title in November and distribute about 60,000 free copies. “We’ll have to see what the marketplace tells us,but there are no plans to start charging for it,” Mr. Arndt says. Chicago was chosen as the inau- Hilton exits pension fund gural location primarily for “practi- cal reasons,” Mr. Arndt says. Busi- Ratcliff, Hilton’s John Bernard, chairman of the em- nessWeek has four reporters, an Unusual perk for senior vice presi- ployee benefits practice at Philadel- editorial assistant, and sales and ad- nonunion managers dent of Eastern phia-based law firm Ballard Spahr vertising staff in the city. operations. “We Andrews & Ingersoll. The loss of If the publication makes a go of shrinks to cover only didn’t want a small Hilton “may put pressure on the it, other cities will follow, says John 26 hotels in NY group of employ- fund,” he says. Byrne,executive editor and editor in ees having access chief at BusinessWeek.com. He de- to a plan that no Fund in ‘healthy position’ clined to identify which cities the BY LISA FICKENSCHER one else [at the mr. steinbrecher disputes the company is considering. company] had.” contention that the fund is weak- In order to focus resources on the an unusual retirement fund for Hilton also of- ened. He points out reassurances See BUSINESSWEEK on Page 8 New York City hotels that for fered its own pen- from its trustees and actuaries, who decades provided nonunion em- sion plan,which in maintain that it is “in a healthy po-

ployees with a pension plan is los- bloomberg news recent years it re- sition.” ing its relevancy, as all the largest RESTRICTED: The plan was just for managers in New York City. placed with a Hilton executives say they de- hoteliers have withdrawn from it. 401(k) plan. cided to exit the fund in January— This month, Hilton Hotels be- The company well before the July announcement came the last major company to agers of the Hilton New York and was paying up to $1,000 a year per that the Blackstone Group would stop paying into the fund, spon- the Waldorf-Astoria. Veteran em- worker—depending on tenure— buy the company for $26 billion. sored by the Hotel Association of ployees, some of whom have been into the hotel association fund;em- That transaction is expected to New York City. Just 24 of the orga- in the plan since the 1970s, were ployees contributed nothing. close in September. nization’s 200 members continue to upset by the news that their pension Hilton has raised the salaries of A Hilton employee, who asked participate in the fund, which has benefits would not continue to ac- New York managers by $1,200 a not to be named, says the company 730 beneficiaries. crue. year to compensate for the loss and has told workers nationwide that no “Over the past 15 years, many of is encouraging them to invest the changes would be made to their the large hotels developed their Unfair advantage? money in their 401(k) plan. benefits package before the deal own pension plans and pulled out,” but hilton executives say the The company’s withdrawal rais- closes. It also said that Blackstone says Stephen Steinbrecher,a lawyer plan gave its New York employees es questions about the fund’s future. has agreed not to make changes to at Kane Kessler, which represents an unfair advantage. “You want to get as many partic- benefits for two years after that. the hotel association. The association’s fund “is an ipating employers as you can to DEEP BACKGROUND: The new magazine will Hilton’s decision affects man- anomaly in the industry,” says Ted have better management fees,” says COMMENTS? [email protected] focus on analytical pieces.

August 27, 2007 | Crain’s New York Business | 3 CNYB 08-27-07 A 4 8/24/2007 7:58 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL Conservative lending +2.5% lifts two savings banks Bloomberg/ Crain’s New York Index Dime and Astoria wide Financial were able to lure mort- the meltdowns suffered by rivals and at rose 2.5% gage seekers with great offers, includ- the same time attract new borrowers. to end the Financial seem ready ing ultra-low teaser rates and 100% fi- Of Astoria’s nearly $15 billion loan week at nancing, and then portfolio, nearly $11 373. The to rise as rivals falter quickly package those billion consists of real S&P 500 ➡ loans and sell them to estate loans. Dime Index rose BY KIRA BINDRIM investors. Community’s nearly 2.3%, Unable to sell their $3 billion loan portfo- closing at nvestors are fixing their sights loans, Astoria and lio, meanwhile, is al- 1479. on a couple of local savings banks Dime Community most entirely made up as possible beneficiaries of the na- had to put them away of mortgages. tional mortgage meltdown. in their own vaults—a In the near term, In stark contrast to the bank- requirement that led however, analysts be- Iruptcies of several large housing lenders both savings banks to lieve that both savings RISERS and the steep sell-offs of the shares of hold to very conserva- banks will struggle to 5-DAY 1-MONTH 3-MONTH CLOSING others, both Astoria Financial Corp. and tive lending stan- grow those portfolios % CHANGE % CHANGE % CHANGE PRICE Dime Community Bancshares Inc. have dards. At Astoria, for in the face of falling Take-Two Interactive +21.2% -25.0% -20.2% $14.85 seen their shares take wing in the past example, mortgages real estate values and a month. Their stocks rose by 13% and have a average loan- deep chill in home Ann Taylor +12.9% -6.4% -16.5% $32.33 17%, respectively. The good news is that to-value ratio of less buying. Astoria is ex- Phillips-Van Heusen +10.8% +7.2% +5.1% $57.88 those rallies look like they have a long way than 65%. That com- Market cap (Astoria) $2.6B pected to earn $1.47 to run as the two institutions benefit from pares with the 80% to per share this year, J. Crew +10.7% +0.2% +26.5% $51.88 Market cap (Dime) $0.5B CIT +8.6% -15.7% -36.5% $37.80 the sudden absence in the market of many 100% ratios popular down 18% from 2006. of their erstwhile leading competitors. with bigger lenders. Revenue is expected to “These two lenders finally have some Astoria Chief Executive George En- plummet 61% to $431 million. Dime SINKERS pricing power,” says Keefe Bruyette & gelke Jr. simply notes that he has a pref- Community is expected to post earnings 5-DAY 1-MONTH 3-MONTH CLOSING Woods analyst Robert Hughes. “The fu- erence for borrowers who “have skin in of 68 cents per share, down 22% from last % CHANGE % CHANGE % CHANGE PRICE ture remains unclear, [but] I feel relatively the game.” year, on an expected 53% fall in revenues Monster Worldwide -7.2% -16.0% -28.3% $33.18 good about the quality of their portfolios.” Those kinds of tastes are serving both to $81 million. Martha Stewart -4.5% -10.0% -27.7% $13.00 For years, small, conservative institu- Astoria and Dime Community well, as Further out, though, the combination tions like Lake Success, L.I.-based Asto- default rates among their borrowers pale of conservative lending standards and a Bank of NY Mellon -3.0% -1.8% -0.2% $42.15 ria Financial and Brooklyn-based Dime in comparison with those at banks that sudden lack of competitors should help Arbitron -2.2% +1.2% +1.5% $50.61 Community fought a largely losing bat- lent far more aggressively. Their reputa- both banks rebound handily. J.P. Morgan Chase -2.2% +1.4% -10.9% $45.96 tle for market share. Far larger regional tion for prudent lending is also helping and national players like giant Country- the two banks insulate their stocks from COMMENTS? [email protected]

STOCKS TO WATCH by Erik Ipsen Broad market rebound leaves shares of Moody’s untouched IN A WEEK IN WHICH shares of some $50 of the biggest losers of the summer— Bear Stearns and CIT Group 49 included—suddenly perked up, one local loser continued to swoon. 48 Betting that that the precipitous fall in the issuance of bonds and hybrid 47 debt securities will continue, investors drove the shares of bond-rating 46 agency Moody’s down another 7% last week. The stock has shed 34% of 45 its value in the past three months. M T W TF For a former LBO carrying pots of debt, nearly $12.5 billion worth, Hertz is doing remarkably well these days. Since returning to the market less than a year ago, its shares have gained 30%, 5% last week alone. At the airport in Orlando on Saturday, Hertz will launch a whole new arm, Simply Wheelz, billed as a cheap and easy car-rental company. So far this year, Hertz has even managed to pay off $170 million of its debt. Get Met. Lately, anyway, it pays. Last week, shares of MetLife tacked on a gain of 3%. A handful of other financial companies did better, but few of them can truly rival the insurer for its resilience. Its shares are up 12% so far this year and 23% over the past 12 months. A recent report from Citigroup, however, advises caution, noting that MetLife has an unusually high level of “high-risk assets” on its books. charts: lindström bekka

4 | Crain’s New York Business | August 27, 2007 Project2 8/3/071:27PMPage1 only whenit’s full. Run yourdishwasher and timeallatonce? money, energy, water How canyousave standing inMexico. on standbywhileyou’re They don’t needtobe you goonvacation. Unplug applianceswhen CONED.COM SAVING TIPS AT FIND MOREENERGY

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©2007 Consolidated Edison Company of New York, Inc. Ad: Arnell Group CNYB 08-27-07 A 6 8/24/2007 6:45 PM Page 1

PHOTO GALLERY NEW YORK,NEW YORK LISTINGSVIDEO OF LOCAL EVENTS edited by Valerie Block 40 UNDER 40 PROFILES AND PHOTOS ONLINE ONLY FEATURES Demand for opera seats TOP LISTS FOR BUSINESS LEADS reaches crescendo NY BUSINESS DIRECTORY pera buffs seeking tickets to Madama Butterfly, or any of the other LATE BREAKING Operformances at the Metropolitan Opera this season, better act fast. LOCAL NEWS The once-sleepy giant of culture has suddenly RESTAURANT REVIEWS become hip. LINKS TO MEMBERSHIP ORGANIZATIONS Since General Manager Peter Gelb came on INTERACTIVE ONLINE POLLS board in 2006, the institution has experienced a SEARCHABLE ARCHIVES dramatic increase in attendance. Last year INSIDER AND PULSE NEWSLETTERS marked the first box-office bump in six seasons.This year, tickets are flying out the door COMPREHENSIVE INDUSTRY PAGES even faster. The box office opened Aug. 19 and quickly set a record. In one day, sales jumped 25% compared with last year, to more than $2 million. Subscription sales are already 11.7% ahead of last season’s final totals, and new subscriptions have increased a whopping 104% to 2,573. THERE’S SOMETHING FOR “At this point, we’re already about 50% sold for the entire season,” a spokesman says. EVERYONE AT The season, which opens Sept. 24 with a new production of Lucia di Lammermoor (above), features seven new productions, the most the Met has presented in one season since it opened its doors at Lincoln Center 41 years ago.

cookies to coach passengers, while event, the Nikon Four-to-the- Rooftop revels first-class riders will get a steak Floor Tour sponsored by Volvo, for next summer sandwich on a baguette and a will introduce DJs and producers miniature chocolate cake. in a series of shows that will with the outdoor sipping “I think it’s just the beginning include “mash-ups” with live season winding down, plans for of things to come between us and musicians like R&B violinist next summer’s hot spots are American Airlines,” says Strip Karen Briggs and trumpeter Lee already cooking.Talks are under House co-owner Penny Glazier.The Hogans. An EP of the music on way to turn the roof and airline’s Admiral Club could soon the tour will be released Sept. 26. Long established penthouse at hotelier Vikram offer Strip House nibbles. Chatwal’s Time Hotel on West commitment 49th Street into a public Concert show lounge, according to a source. UPWARDLY MOBILE drums up support The bilevel space is already used for private parties when AVERAGE BASE PAY increases for New msg network wants to transport Time’s sister property, the York City workers will slightly outpace commuters to the Big Easy.The Dream Hotel on West 55th the national average of 3.8% in Cablevision-owned channel has Street, is overbooked at its 2008, according to estimates from hired street teams and jazz bands Weiser LLP Certified Public Accountants rooftop aerie, Ava Lounge. Hewitt Associates. Actual base pay in to promote its latest original Time Hotel may also get a the city has been rising since 2006. program, The Concert for New branch of Serafina, the trendy Orleans Remembered. to the pizzeria chain. 3.5% 3.8% 3.9% Hanging around high-traffic Health Care Meanwhile, Mr. Chatwal 2006 2007 2008 locations like Grand Central community has purchased the Covenant station, the teams will hand out New York City House property on West 17th Mardi Gras beads and talk up the 135 West 50th Street For nearly a century, Weiser has provided New York, NY 10020 Street for a boutique hotel called documentary about the Sept. 20, Tel 212.812.7000 health care organizations with accounting, Dream Downtown, Crain’s Music hits 2005, concert at Madison Square Fax 212.375.6888 tax, and consulting services, including: reported last week. Plans include a with sponsors Garden that raised $9 million for Long Island Operation Improvement rooftop nightclub, to be operated Hurricane Katrina victims. 3000 Marcus Avenue • Revenue cycle improvement by restaurateur Greg Brier. with music sales continuing to Featured performers include Allen Lake Success, NY 11042 • Risk management, compliance, and slip, more labels are seeking out Toussaint (below).The show Tel 516.488.1200 internal controls Fax 516.488.1238 corporate sponsors.Two-year-old debuts on Wednesday, Aug. 29, Transaction Based Support Big production Spring, a self-described “hybrid two years after Katrina. Westchester • Mergers/acquisition analysis music marketing label,” just inked MSG has been trying to 660 White Plains Road • Strategic planning for Vegas flight Tarrytown, NY 10591 deals with Nikon, Volvo, HSBC expand its reach since it lost • Medical staff planning and development Tel 914.333.0555 high rollers hitting Las Vegas and InterContinental Hotels for Yankees telecasts in 2002. “We Fax 914.333.0556 • Financial planning • Valuations will have a new nonstop option its multiplatform music packages. were pigeonholed as a live games New Jersey • Due diligence next month when American “It’s utter devastation out there,” network,” says Steve Mars, vice 399 Thornall Street • Capital access options Michael Aiken Edison, NJ 08837 Airlines debuts its direct flight says , president of marketing. Tel 732.549.2800 • Regulatory submissions between JFK Airport and the Spring’s chief executive. “This broadens our Fax 732.549.2898 Litigation Support gambling mecca. It was slow going at content base.” Next up: To celebrate the inaugural first, but after the The Concert for New www.weiserLLP.com Sarbanes-Oxley Compliance flight on Sept. 5, Strip House, the successful launch of the York City Remembered New York eatery opening a Vegas 2006 BMW Pop-Jazz on Sept. 11. For more information, contact Douglas A. Phillips, CPA, at 212.375.6701. outpost this week, will provide Live Tour featuring Mike complimentary meals. Phillips and Jill Scott, CONTRIBUTORS: Lisa Fick- Strip House waiters at the attracting corporate enscher, Louise Kramer, terminal will hand out boxed partners has gotten Samantha Marshall,

meals featuring steak wraps and easier. Spring’s latest ap images Miriam Kreinin Souccar

6 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 7 8/24/2007 6:47 PM Page 1

ment projects is attracting invest- ment funds like Trikona Capital, REPRINT, POST PUBLISHED ARTICLES India gets NY cash which this spring announced a $1 billion investment in slum resettle- REPRINTS OF CRAIN STORIES Continued from Page 2 Manhattan-based international call ment projects around Mumbai. from New York City,” says Rajiv center service company iQor Inc., Earlier this year, Blackstone, to- CRAIN’S NEW YORK BUSINESS offers reprints of the articles it publishes. Khanna, a partner at law firm has seen operational cost savings gether with Citigroup, announced The reprints can include photographs that accompany the story. To obtain an Greenberg Traurig and president of shrink to 45% from 75%. a $5 billion India fund dedicated to estimate of the price and the turnaround time for a reprint, please contact the India-America Chamber of But these are minor problems in infrastructure investments. War- Dana Warfel at Reprint Management Services, (717) 399-1900, ext. 118, or Commerce. a robust economy that’s opening up burg Pincus, Morgan Stanley and [email protected]. With India’s gross domestic to foreign investors.“India will con- Goldman Sachs are also putting Readers wishing to make their own reprints or to product growing at 9.2% this year tinue to have an advantage,” says billions into India through real es- post a story on a Web site must pay $350 for the and its consumer population ex- KPMG’s Mr. Kumar. tate funds. use of the Crain’s copyright; the fee for nonprofits is ploding, New York investors are “I grew up in India, and the idea $195. Send a letter describing the article and how grabbing a stake in the Indian econ- Real estate rising that New Delhi could become the it will be used, along with a check, to Jill Bottomley omy early in the game. it helps that the Indian govern- cool place to be was anathema to at Crain’s New York Business, 711 Third Ave., New As of Aug.21,equity firms based ment announced it will be spend- me,” says Mr. Kapoor. “But times York, NY 10017. For more information, please call here had plowed $504 million into ing about $300 billion on infra- have really changed.” Ms. Bottomley at (212) 210-0282. Indian firms through 22 deals, al- structure over the next five years. most 10 times the amount of invest- The opening up of major develop- COMMENTS? [email protected] ment in 2005, when there were sev- en deals worth $56 million, according to Thomson Financial. The Northwestern Mutual Life Insurance Company Those numbers don’t include ven- ture capital, which has doubled to $1.3 billion this year,from $667 mil- lion in 2005, Thomson says. More new investments are in the pipeline for the next few months. NORTHWESTERN MUTUAL Major New York-based insurers are expected to announce new acquisi- tions in India, now that the Indian ANNOUNCES A TOTAL DIVIDEND government has opened up the sec- tor by allowing foreign companies to PAYOUT OF $4.63 BILLION AND A own a 49% stake, up from just 26%. To handle all the upcoming transactions, KPMG opened its DIVIDEND INTEREST RATE OF 7.5%. own India practice two months ago, with a staff of 20 professionals locat- ed in New York and other U.S. of- fices. The accounting firm, which already has a strong presence in In-

India’s gross (SORRY, BUT WE JUST COULDN’T domestic KEEP QUIET ABOUT NUMBERS LIKE THESE.) product is growing 9.2%

Our total dividend payout to policyowners in 2007 was $4.63 billion. We’re proud to say that’s $360 million more than last year. It’s a total that should keep us firmly atop the life insurance dia, has seen a 50% rise in the num- industry in dividends paid.* And, for the third straight year, we’ll also pay a dividend interest ber of clients for due diligence and rate of 7.5% on unborrowed funds on most permanent life insurance policies.** merger-and-acquisition transac- tions over the past two years. “Be- What makes this possible? As a mutual company, we’re completely committed to our policyowners. It’s with cause of all the growth, we felt India warranted a much closer focus,”says their interests in mind that we workhard to minimize operating expenses and maximize investment returns. Arun Kumar, who heads the new India practice. Flip side of course, the investment eupho- ria has its flip side. While the Indi- an government has been gradually liberalizing its economy over the years, the flood of foreign money is prompting calls from some Indian regulators to scrutinize internation- al investors more closely. The cur- Michael J. Mullarney, CLU, ChFC rent credit crunch may also delay funding for some of the more ambi- Wealth Management Advisor tious real estate and infrastructure The Russo Financial Group deals, albeit slightly. 875 Third Avenue, 23rd Floor “This spring saw such a fevered New York, NY 10022 pace, with billions of dollars in deal (212) 867-8477 activity, that now the market has to [email protected] absorb it all,”says Richard Peterson, director of capital markets research * 2006 A.M. Best at Thomson Financial. ** The policy dividend and the underlying dividend interest rate are not guaranteed beyond 2007. They are reviewed annually and are subject to change by the Company’s Board of Trustees. The divi- dend interest rate credits interest on policy values after mortality and expense charges have been deducted. It is not a measure of the policy’s internal rate of return on cash values. Rapid growth also means higher 05-2637 ©2007 Northwestern Mutual. Northwestern Mutual Financial Network is the marketing name for the sales and distribution arm of The Northwestern Mutual Life Insurance Company, expenses. It costs almost as much to Milwaukee, WI (NM), and its subsidiaries and affiliates, and “the quiet company” is a registered trademark. Michael Mullarney is a representative of Northwestern Mutual Wealth Management Company®, hire a professional or top manager in Milwaukee WI (WMC), a wholly-owned company of The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM) and limited purpose federal savings bank. All financial planning, investment India as it does anywhere in middle management and trust services are offered only through WMC. WMC is not a broker-dealer or insurance company and does not offer insurance products or brokerage services. Representative is an America, for example. Since he first Insurance Agent of NM (life insurance, annuities and disability income insurance) and a Registered Representative of Northwestern Mutual Investment Services, LLC (NMIS), a wholly-owned company of NM, broker-dealer and member NASD and SIPC. All brokerage services are offered only by NMIS. There may be instances when this agent represents insurance companies in addition to NM or its affil- started doing business in India, iates. NM and The Russo Financial Group are not broker-dealers, investment advisers or federal savings bank. 7056-069C Vikas Kapoor, chief executive of

August 27, 2007 | Crain’s New York Business | 7 CNYB 08-27-07 A 8 8/24/2007 8:14 PM Page 1

Cracks appear in rents amid fears of Wall St. layoffs

Continued from Page 1 little new space slated to come on- rose about 22% from June through of which invested heavily in sub- cial services sector—the key driver line soon. August, to roughly $44 a square prime mortgages and could go out of lower vacancy rates and higher According to industry bench- foot. of business in the coming months. rents in recent years—accounts for marks,more than 40,000 jobs would Low commercial vacancies did- Even though the fund firms don’t about one third of the space leased have to be cut for the vacancy rate to n’t insulate the real estate market as lease large blocks of space,their will- in Manhattan.There’s now concern approach 8%, which brokers say is a recession deepened after Sept. 11, ingness to pay more than $100 a that firms will slash staff and relin- the point at which the playing field however. square foot has pushed up prices. quish space. The rate jumped to 12.5% in Although there are no dramatic A new sense of caution is already 2003 from 3.6% in 2000; rents fell signs of a downturn, Mr. Hoffman evident. Last week, Lehman Broth- ‘We’re in 11% during the same time frame. says he is taking a more wary ap- ers chose not to take an additional Most vulnerable to a downturn: proach. For example, he advised one 70,000 to 80,000 square feet at 399 purgatory,’ says those buyers who have paid stagger- landlord not to budget a rent boost Park Ave. ing sums for office towers and need for his building next year. one real estate continuing substantial rent increas- “I’m just trying to manage expec- Vacancy rate at a low 5.3% es to be able to refinance or meet tations,’’ Mr. Hoffman says. “We’re “wall street is crucial,’’ says insider their debt obligations. in purgatory.” David Hoffman, executive manag- Harry Macklowe, who recently On the other hand, tenants are ing director at real estate firm Col- purchased seven properties from expecting that rents may decline.

liers ABR Inc. “If [Wall Street op- The Blackstone Group for roughly lindström bekka Marisa Manley, president of Com- erations] fire en masse, then so do $7 billion, is one such buyer. A mercial Tenant Real Estate Repre- the lawyers,accountants,advertisers spokesman for Mr. Macklowe de- Mr. Friedman believes rents sentation,says a client whose lease is and so on.” begins to level between tenants and clined to comment. could decline by at least 10%. “I expiring early in 2008 plans to sign Most real estate insiders remain landlords. Rents in the 12 months that ended think people buying at the historical a short-term sublease. optimistic that the financial crisis “There has been no slowdown in June 30 rose 34%, to $63.56 a square highs could get hurt,” he says. “They are compromising,” Ms. will pass quickly. They also argue leasing activity,” says Mitchell foot—the sharpest annual increase Manley says. “It’s less than an ideal that the market could withstand a Konsker, a vice chairman at Cush- in at least two decades, according to Subleasing excess space situation, but they hope to save a bit slowdown. Manhattan’s office va- man. “There are still multiple ten- CB Richard Ellis Group. But that if financial services firms begin to of money when they find a long- cancy rate stood at a low 5.3% at the ants [competing] for open spaces.” surge isn’t expected to continue. cut staff, they will also start subleas- term solution.” end of the second quarter,according He brokered two deals at a West Mr.Konsker forecasts a rent hike ing excess space. Brokers are anx- to Cushman & Wakefield Inc.,with 27th Street building where rents of only 5% to 10% next year. iously following hedge funds, many COMMENTS? [email protected]

dormant since early July, when Blackstone Group said it would buy Party’s over for Street’s M&A boutiques Hilton Hotels for $26 billion, bankers insist that there is still ro- Continued from Page 1 bust activity on smaller deals. They professor at Cass Business School in add that a slowdown should mean London and a former economist at more business for staffers who spe- the Bank of England. “Doing a big cialize in restructuring troubled or merger requires a lot more courage bankrupt companies, though the than it did a few months ago, and fees for that kind of work tends to be when the feeling is like that the less lavish. M&A boutiques don’t have very “We’re relatively well-posi- much to do.” tioned,” says Greenhill Chief Fi- Although tiny compared with nancial Officer John Liu. Goldman Sachs or Lehman Broth- Evercore, which doubled its staff ers, the firms frequently advise on in the past year to 268 members,says many of the world’s largest mergers, that it intends to add even more thanks to their veteran rainmakers. people.

Evercore was co-founded by Clin- bloomberg news Lazard, though it posted an 8% ton administration official Roger ON THE SPOT: Wall Street dealmakers (from left) Roger Altman of Evercore Partners, Robert Greenhill of Greenhill & Co. and Bruce Wasserstein of decline in first-half advisory rev- Altman, Greenhill was started by Lazard could see a hit to their firms’ profits because the bounty of work from leveraged buyouts and other transactions has dried up. enue,to $360 million,says it expects former top Morgan Stanley partner big deals that it had a hand in to Robert Greenhill, and Lazard is run close in the second half, including by renowned banker Bruce Wasser- tically minting money in recent cial markets has changed every- which owns shares in Lazard. Mr. the LBO of TXU and the $88 bil- stein. years. Deal volume nearly doubled thing. Investors fear the boutiques Killian figures that Lazard’s money lion merger of Barclays and ABN between 2004 and 2006,to $3.9 tril- will struggle to land new business as management business will help Amro. Profit machines lion, according to research firm the pipeline of major LBOs runs cushion the firm. Still, some dealmakers acknowl- in good times, their businesses are Dealogic. dry. Greenhill is also suffering from edge that the frenzy of earlier this supremely profitable and carry little During that period, Evercore is viewed as be- its dependence on LBOs, which year is unlikely to return anytime risk. Lazard’s advisory revenues ing at particular risk. LBO have composed nearly half of its soon. Evercore, for example, pocketed jumped 40%, to more than 40%INCREASE advisory has generated 67% transaction volume this year. With “The credit markets have been a $4.75 million fee earlier this year $900 million. Both Ever- in advisory of its business so far in 2007, investors balking at financing buy- too exuberant the last few years,” revenue at for advising the board of First Data core and Greenhill more Lazard from according to Dealogic, and outs, there may be little work after says Steve Siesser, a merger special- Corp., which is to be acquired by than doubled their advisory 2004-06 the firm’s stock is down pending deals close. Greenhill’s ist at law firm Lowenstein Sandler. Kohlberg Kravis Roberts & Co. in a revenues last year alone, nearly 40% this year. shares have slid 22% since January. “We’re coming back to normalcy, to $29 billion leveraged buyout. each to about $200 million.All three “Evercore is heavily levered to sea level. I doubt we’ll see the kind Lazard stands to collect $13.5 mil- firms also reaped additional for- the biggest deals, and with fewer of Drought will continue of valuations in the merger market lion for advising utility TXU Corp. tunes for their partners by taking those,its visibility isn’t so good,”says the three boutique shops are that we had for a number of years.” on its $45 billion LBO. themselves public. David Killian, a portfolio manager putting on a brave face. Although Indeed,the boutiques were prac- But the recent crisis in the finan- at StoneRidge Investment Partners, the market for large LBOs has been COMMENTS? [email protected]

of Chicago-area BusinessWeek sub- business, giving its 50,000 weekly scribers they will be able to capital- print subscribers and 160,000 regis- BusinessWeek targets Chicago ize on,” Mr. Walker says. tered online users the up-to-the- minute coverage they need. The Continued from Page 3 local markets that we think we’re go- The new publication has a num- Hometown rivals new monthly magazine from Busi- print edition, BusinessWeek Chicago ing to make this a big success.” ber of advantages, including Mc- “chicago is a competitive news nessWeek, a strong name in national will launch without a dedicated Graw-Hill’s heft and deep pockets, town, where business news breaks business news, will find the compe- Web site. Built-in subscriber base says Martin Walker, chairman of around the clock,” Crain’s Publisher tition here every bit as tough as it is “I know it may seem counterintu- steve timble, founding publisher Walker Communications, a Man- David Blake said in a statement. on the national level.” itive, given the difficulty that print is of entertainment title Time Out hattan-based magazine consultant. “Crain’s has competed successfully having,”Mr.Byrne says.“But we feel Chicago, says starting any type of “What they have going for them here for three decades to become the Brandon Glenn is a reporter at that there’s so much opportunity in magazine is difficult. is a name, and they have a good list leading source of news on Chicago Crain’s Chicago Business.

8 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 9 8/24/2007 2:35 PM Page 1

New wine stores toast of town

Continued from Page 1 off its award-winning store design “If you have items that no one has “There comes a time in every in- and won favorable settlements. ever heard of, you can charge any dustry when change becomes in- Such battles are perhaps in- price you want,” says Michael evitable, and I think we are seeing evitable in a business where well- Aaron, chairman of Sherry- that happen in wine retailing,” says heeled owners now routinely invest Lehmann. Tom Geniesse, owner of Bottle- big bucks to develop their brand and Others insist the fatter margins rocket Wine & Spirit, which in many cases even aspire to take it of the newer stores are an outgrowth opened in the Flatiron district 15 national. Two-year-old Crush not of greed but of the clever buying months ago and with a mere 365 la- Wine & Spirits on East 57th Street and promoting of unsung vintages. bels. stands as a classic example. The “If my wine buyer is able to find The sea change in wine retailing owners, who include restaurateur a great wine that is slightly under- comes at a time of huge growth for Drew Nieporent,had a seven-figure priced—it’s $10 but tastes like the industry. The New York State budget for the design and construc- $30—then that’s an opportunity to Liquor Authority has granted 78 tion of their store, which includes a make a little more on that bottle,”

new wine and liquor licenses in the tasting room, a curved wall and a says Tola Talabi, co-owner of Bac- buck ennis city over the past two-and-a-half temperature-controlled room called chus Wine Made Simple. “This is a MORE IS LESS: Sherry-Lehmann boasts 4,000 fine wines and spirits but has lost its top rank on years, and another 105 applications The Cube, where its most valuable profitable model.” the Zagat Survey to a pair of upstarts with a lot of style and a fraction of its inventory. are pending. wines are displayed. These new wine entrepreneurs The owners of more and more of must be doing something right. those new stores are pulling out all No strength in numbers Crush, for example, reports that its over. Diplomat Wines & Spirits, a long-established Acker Merrall & the stops and are getting recognized such investments pay off,in part revenues have doubled in the past cramped midtown store long on Condit.“If you try to simplify art too for their efforts. Zagat lists 95 no- because the new breed is able to re- two years and are nearing $10 mil- bottles and short on design,is in sur- much,you don’t give it its due.Time table retail wine outlets in its 2008 alize savings by de-emphasizing lion. That growth is helping to fuel vival mode after two trendy new will tell whether this [new retail] ap- guide. That figure is up 30% in the sheer quantity. even more improvements. stores opened nearby. Christopher proach will last.” last four years. “We are not sitting on millions of Meanwhile, Bacchus will soon Anderson, the store’s sommelier, Meanwhile, Sherry-Lehmann Wine store designs and concepts dollars in inventory, and we can become the second store in the city says he consulted with an architect no longer ranks as top dog in New have suddenly become so valuable [sell] the products that we have to purchase machines that can pre- about a makeover but abandoned York, but its revenues are nonethe- that owners are literally going to faster [than traditional stores],” says serve for weeks open bottles of wine the effort because of the cost. less growing at a heady 20% annual court to protect them. Best Cellars, Mr. Geniesse. used for tastings, according to Mr. pace, a sign perhaps that there is life which pioneered the new approach By stocking more obscure labels Talabi. That luxury will not come Faith unshaken in the old model yet. 11 years ago by selling wines under and fewer popular classics such as cheap.The four Enomatic machines many owners insist that imitating “Our business would not be $15 that it grouped under headings Mouton Cadet and Kendall Jack- will cost Bacchus $80,000. the new stores would be a mistake, growing if people were looking for such as “Luscious,” “Juicy” and son, the new crowd also gains a lot A relentless series of such inno- since they are probably nothing less choice,” says the store’s Mr. “Big,” and whose store has blond more pricing flexibility.Some estab- vations have left the mom-and-pop more than a passing fad. Aaron. wood wine racks that are built into lished players say the new rules are owners of many of the city’s tradi- “Wine is an art,” says Clifford the wall, sued two rivals for ripping simple. tional wine stores with a nasty hang- Korn, managing director of sales for COMMENTS? [email protected]

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August 27, 2007 | Crain’s New York Business | 9 CNYB 08-27-07 A 10 8/23/2007 8:22 PM Page 1

VIEWPOINT NY pension fund pitfalls editor in chief Rance Crain publisher Jill R. Kaplan shaky stock market, the emergence of more of its money on alternatives, such as real estate, venture EDITORIAL new details from an investigation of capital and private equity, because they have provided bigger editor Greg David managing editor Richard Barbieri former Comptroller Alan Hevesi, and the returns. But choosing individual buildings to buy or funds to deputy managing editors Valerie Block, admitted inexperience of current invest in is inherently subjective.The decisions are open to Erik Ipsen assistant managing editors Comptroller Thomas DiNapoli are influence by lobbying, campaign contributions or worse.The Carmen Fleetwood, Robert Hordt focusing new attention on New York’s investigation of Mr. Hevesi, for example, involves whether columnist Alair Townsend senior reporters Aaron Elstein, unique system of allowing one person to his relatives and associates were paid for helping steer Lisa Fickenscher, Matthew Flamm, Tom Fredrickson, Samantha Marshall, manage its pension fund. With so much at stake—the fund pension fund investments to specific managers. Anne Michaud, Miriam Kreinin Souccar now totals some $155 billion—all allies are welcome to the Mr. DiNapoli, who wants to maintain his authority, reporters Theresa Agovino, Barbara Benson, A Elisabeth Butler Cordova, Erik Engquist, effort to overhaul pension fund governance in the state. argues that the voters can always throw him out of office if Amanda Fung, Hilary Potkewitz, Gale Scott The importance of the pension system and the need for they disapprove of his handling of the pension fund. Of restaurant critic Bob Lape art director Steven Krupinski adept stewardship are clear (Crain’s,May 14).The New York course, that could mean deputy art directors Carolyn McClain, State Common Retirement Fund, the second-largest waiting four years for Daniel Mednick Investment staff photographer Buck Ennis pension fund in the nation, pays retirement benefits for all an election to come copy desk chief Wendy Zuckerman decisions copy editors Michele Arboit, state and most local employees in New York. Its financial around. Investors Thaddeus Rutkowski performance determines how much taxpayers must normally can sell a research editor Denise Southwood are open associate research editor contribute to keep it solvent; the figure was $6 billion in one stock or withdraw Adrianne Pasquarelli recent fiscal year. All other big pension funds, including to influence money from a mutual www.NewYorkBusiness.com online editor Catherine Tymkiw those for New York City employees, are run by boards made fund immediately if online reporter Kira Bindrim up of government officials, worker representatives and they are displeased. It’s EDITORIAL AND ADVERTISING OFFICES outside experts. a crucial difference. 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 For years, the vast majority of assets were invested in stock Admittedly, the New advertising: 212.210.0259 Cable craincom nyk and bond index funds, which track the market.This is a York state pension fund clearly outperformed its peers under Fax 212.210.0499 winning strategy because index funds involve very low costs. Mr. Hevesi, with an annual rate of return about two Entire contents ©copyright 2007 Crain Communications Inc. All rights reserved. The system also reduces the opportunity for chicanery, since percentage points higher than similar New York City funds. ®CityBusiness is a registered trademark of MCP managers can’t steer investments to favored companies or But there is no assurance Mr. DiNapoli will do as well, and Inc., used under license agreement. TO SUBSCRIBE: advisers. the risk of corruption outweighs the potential for slightly Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. Increasingly, however, the pension fund has been betting higher profits. www.NewYorkBusiness.com

ADVERTISING AND MARKETING advertising director Jeff Adler business development manager LETTERS TO THE EDITOR Robert N. Grossman senior account manager William E. Squitieri account executives Andrew Carlin, Lisa Pearly, Jennifer Siniscalchi, Brigitte Stieglitz western account manager Local 32BJ is making progress Ellen Mazen (Los Angeles) 323.370.2477 sales manager, classified visible J.P.Morgan and technologies and college tuition print & online John Gallagher BIG INCREASE HOW TO KEEP newsletter product manager IN MEMBERSHIP Columbia University to choose TECH TALENT reimbursement have ceased. And Catherine Evans Gittens a more responsible security in many companies, not even the sales coordinator, print & online crain’s aug. 20 story contractor would the solution to the tech talent coffee room is stocked anymore. Lulé Haznedari on Local 32BJ is right admittedly be an shortage is not in one-time finders hans-pedro sullivan sales coordinator Anita Perrino credit Pat Grondziak 313.446.6082 that organizing important symbolic fees (“Firms hit wall on tech marketing director Amy Crossman security officers in victory, while hiring,’’ Aug. 13). It lies in the marketing manager Jill H. Bottomley istockphoto DON’T FORGET Manhattan’s providing their staff, essential trifecta of raising base THE PATIENT marketing coordinator Jenny Mashberg skyscrapers is a tall faculty and students salaries of the techies, reducing the circulation manager Andrea Richardson assistant circulation manager order. But it with more workload and improving working enough already When are Rosalie Ford doesn’t mean professional, stable conditions.Tech is not the happy providers, insurers, government general manager, interactive progress hasn’t been and better-trained wonderland of the 1980s and and employers going to realize that Marc Minardo made just because one security officers. 1990s. It is an industry consisting it’s not about them or about cost- technical producer Danny Porter contractor, Summit But to suggest this of 80-hour work weeks, 24/7 on- shifting efforts? (“Hospitals, NEW YORK PRODUCTION Security, has pushed isolated symbolic battle call availability and predawn insurers lock horns,’’ Aug. 20.) production and pre-press director back on the union’s SECURITY OFFICERS with one or two building conference calls with India. It’s about me, the patient—the Michael Corsi citywide campaign to are a target of Local 32BJ. owners or tenants is On the surface, tech appears to end-user. Show me how you can advertising production manager raise industry standards. somehow more compensate adequately.This is an prolong my good health by Marilyn DeMilta In fact, Local 32BJ now important than the actual illusion. Look beneath the surface collaborating with me. Compete PUBLISHED BY CRAIN COMMUNICATIONS INC. represents more than 6,000 gains being racked up throughout and you will see that the workload for me and advocate with me.The chairman Keith E. Crain security officers in New York— the city is failing to see the forest has increased substantially, money will follow, and the costs president Rance Crain through the trees. secretary Merrilee Crain some 4,000 more than it working conditions have will drop. treasurer Mary Kay Crain represented just two years ago. matt nerzig deteriorated dramatically, and ester horowitz executive vp, operations William Morrow Getting the powerful and Local 32BJ SEIU perks such as training in new M2Power Inc. senior vp, group publisher Gloria Scoby group vp, technology, circulation, manufacturing Robert C. Adams vice president/production & manufacturing David Kamis WHAT’S COMING UP IN CRAIN’S? chief information officer Paul Dalpiaz corporate circulation director Real Small Executive Accounting Influential Small Patrick Sheposh estate business travel industry Women in New business founder G.D. Crain Jr. (1885-1973) report report report report York business report chairman Mrs. G.D. Crain Jr. (1911-1996) Sept. 3 Sept. 10 Sept. 17 Sept. 24 Oct. 1 Oct. 8

10 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 11 8/24/2007 2:38 PM Page 1

Do you know a Crain’s rolled in the program. Medicaid has been squeezing budgets at all levels: federal, state and local. Federal Medicaid spend- ing grew at an average rate of 7.4% Under from 1995 to 2005 and was a whop- 40 ping $181 billion in 2006. Forty? The program has accounted for more than one-third of the total in- crease in New York’s budget in re- cent years. Counties across the state have had to raise property taxes to cope with their share of the spiral- ing costs. The state’s aggressive expansion of Medicaid continues. Earlier this year, Gov. Eliot Spitzer proposed to—and the legis- lature agreed to—extend eligibility for Medicaid to children in house- holds with incomes of up to 400% of the federal poverty level: $82,600 for a family of four. That would be considered a mid- dle-class income in most places in john h.john howard the United States and would be far higher than the amount proposed in any other state. Federal administrators have just put significant obstacles in the way Broken Medicaid of New York’s proposal. Before states expand eligibility for Medicaid up the income scale, can’t save the kids they must have enrolled at least 95% of children in families below 200% of the poverty level. New York state ince the federal medicaid program subsidizing does not meet that condition. Additionally, in an effort to pre- health care for the poor began in 1965, New York state vent families who have private in- has been one step ahead of Washington and one step surance from dropping it, the new out of the mainstream. Recent legislation in New rules state that those with such cov- York,and the controversial federal reaction to it,shows erage must wait one year before they can qualify for Medicaid. Sthat the quickstepping continues. The yodeling has already begun: The original Medicaid legislation required all states to cover that President Bush doesn’t care about children,that his priorities are certain low-income And it has been lax in skewed and that the Iraq war is to people and to offer spe- combating provider and blame. cific basic services. It beneficiary fraud. Advocates for expansion argue also gave the states— That collection of that anything that can be done to which had to help fi- factors is why New York provide the uninsured with coverage nance the program— spends on the Medicaid should be done. the option of covering program about as much But I am skeptical that a program additional people and as California and Illi- for low-income people—one that services. nois combined spend, has ineffective cost controls and in New York has always and more than twice the which more than a little fraud is go- chosen to cover every- national average per ing on—is the right way to protect body and everything ALAIR resident. the uninsured middle class. that the law allows.The TOWNSEND New York accounts To accomplish that task, New state has been exceed- for 6.6% of the nation’s York needs a more thoughtful ap- ingly adept at mining population but 14.5% proach—such as the one taken by every means to substitute federal of Medicaid spending.Twenty per- Massachusetts—that better blends Medicaid dollars for state spending. cent of the state’s residents are en- public and private coverage.

CRAIN’S ONLINE POLL Crain’s New York Business WILL THE CURRENT FINANCIAL CRISIS is putting together a LEAD TO A SEVERE DOWNTURN IN NYC’S ECONOMY? 40 Under 40 reunion to honor ONLY ABOUT A QUARTER of the 413 Yes, there will be respondents think that the city’s a repeat of the the 20th anniversary of the 1987 market .24% No, there economy is headed for a recession. crash and the will be a deep recession downturn, feature. If you are former 40 Nearly half of them expect that New that followed 47%. but it will be York will experience a slowdown but mild and or know someone who is, No, the economy is short that it will be modest and will be over strong, and the .29% please send current contact quickly. About a third don’t envision crisis will be brief fallout from the turmoil. information to [email protected] For this week’s question: Go to www.NewYorkBusiness.com/poll to have your say.

August 27, 2007 | Crain’s New York Business | 11 CNYB 08-27-07 A 12 8/24/2007 1:30 PM Page 1

WEEK IN REVIEW

student loans last year, will stop ECONOMIC SPOTLIGHT accepting new applications on Oct. 15, citing new rules governing the relationship between lenders and school officials.The College Board will honor existing loans. Medicaid malpractice thirteen people, including 10 home health aides and two nurses, pleaded guilty to a variety of charges in New York state Attorney General Andrew Cuomo’s continuing investigation into Medicaid fraud. Separately, Blaze, blunders at bank building the AG issued subpoenas to 59 home health care agencies that LESS THAN A WEEK AFTER A BLAZE ripped through the provide Medicaid services. condemned DEUTSCHE BANK building, killing two firefighters, a section of scaffolding surrounding the site collapsed, Congestion pricing injuring two firefighters and several construction workers. panel named Demolition, which was suspended after the fire, remained at a standstill after subcontractor JOHN GALT CORP., cited for seventeen people were named to the committee charged with dozens of safety violations, was declared in default on its evaluating Mayor Michael contract. The ouster came a day after the Manhattan district Bloomberg’s congestion pricing attorney began a criminal investigation into the fire. plan. Most of them favor the Economy Watch concept. Members include Gene ap images The New York City unemployment rate jumped in July as a large number of Russianoff, chief attorney for the people began looking for work. Straphangers Campaign, and Mortgage school to complete a $7 billion Elliot Sander, executive director of JUNE ’07 JULY ’07 COMPARISON expansion.The vote is only a the Metropolitan Transportation NY area inflation change +0.5% +0.2% +2.5%1 meltdown recommendation, but it will be Authority. NYCunemployment rate 5.3% 5.7% 4.6%2 lehman brothers Holdings Inc. considered by planning officials. JULY JOB TOTAL3 12-MONTH CHANGE is shuttering its BNC Mortgage MTV versus Apple subsidiary, with 23 offices in eight NYCemployment 3,718,400 +52,500 states, and laying off 1,200 NYC foreclosures mtv networks signed a deal with 1-Inflation rate for the latest 12-month period. 2-U.S. unemployment rate. 3-Not seasonally employees—4.2% of the firm’s soar in July online music company adjusted. workforce. RealNetworks to develop a music the number of homes in subscription service comparable to foreclosure in New York City rose Apple Inc.’s iTunes. MTV will NYC Hotel Stats Broadway Stats 55% to 2,561 in July, compared contribute $230 million over five with the same month a year ago, years to the project. Verizon Average room rates and occupancy Attendance and gross dipped in the according to RealtyTrac.com. Wireless will be the exclusive levels have been rising since January, week ended 8/19, says The League Queens led the five boroughs with mobile distributor. PKF Consulting data show. The of American Theatres and Producers. a year-over-year increase of 126%. averages for first-half 2007 were However, Broadway houses filled

$273.72 and 84.2%, topping year- more than 90% of their available ap images Ferry launch earlier levels of $242.48 and 83.5%. seats for the fourth straight week. Banks borrow delayed Upper Deck pulls $500 million bid for Topps the national park service gave citigroup inc., J.P.Morgan Hornblower Yachts, the company baseball-card maker Upper Chase & Co., Bank of America assuming a contract for ferry Deck Co. withdrew its $10.75- Corp. and Wachovia Corp. each service to the Statue of Liberty- per-share takeover offer for Topps borrowed $500 million in 30-day Ellis Island, an extra three Co. Shareholders are scheduled to financing from the Federal months, until Jan. 1, to finalize its vote this week on a $9.75-per- Reserve’s discount window.The transition plans. Hornblower is share bid by Chicago-based move came days after the Fed still negotiating to take over the Madison Dearborn Partners and lowered the discount rate by 0.5%, fleet of seven boats from former Michael Eisner’s Tornante Co. to 5.75%. operator Circle Line Downtown. Nasdaq drops LSE Nymex enters Hotelier Helmsley nasdaq stock market inc. is merger talks passes away selling its 31% stake in the Capital IQ’s Weekly Deals Report London Stock Exchange, ending a nymex holdings inc. said it has leona helmsley (below), the yearlong effort to merge with the had talks about a merger that hotelier who went to prison for TRANSACTION SIZE London bourse. Nasdaq may now could save it up to $250 million income tax evasion and fraud, died COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE raise its $3.5 billion bid for annually.The exchange operator at age 87. Known as the “queen of Regatta (U.S.A.) $300.0 Li & Fung Ltd. SB M&A Swedish operator OMX, which said that it may lay off as many as mean,” Ms. Helmsley amassed real Manhattan got a higher offer from Borse 150 employees, or 30% of its estate holdings worth Central Lewmar $185.0 International Paper Co. SB M&A Dubai. workforce, and may sell its at least $2.5 billion, Newark headquarters, worth about including the Park Eos Airlines Inc. $50.0 — GCI $500 million. Lane Hotel and a Purchase, N.Y. Board votes majority interest in John S. Herold Inc. $48.0 IHS Inc. SB M&A the Empire State Norwalk, Conn. against Columbia College Board Building. Selected deals announced during the week of Aug. 12 for companies headquartered in metro New columbia university lost a —from staff York. GCI: Growth capital investment represents new money invested in a company for a minority drops loans stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing nonbinding community board reports and shares of a company without the participation of a financial buyer. vote over zoning changes that the college board, which bloomberg news bloomberg news bekka lindström bekka would enable the Ivy League issued $400 million in reports

12 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 13 8/24/2007 2:40 PM Page 1

Clinton’s candidacy. WAGE RULES Housing exempt? Loan hearings THE INSIDER AFFORDABLE-HOUSING ADVOCATES are asking Gov. Eliot Spitzer to veto a bill help homeowners tightening the rules requiring prevailing wages on public works projects by Erik Engquist and Anne Michaud because it doesn’t specifically exempt housing. hearings on predatory lending They fear the legislation would compel practices by state Sen. Jeffrey Klein, builders to hire union crews to construct D-Bronx and Westchester, have sidewalks, roads and other public pushed state agencies to help components of their projects. They say the Brooklyn turns out for Obama homeowners, he claims, even if the cost of infrastructure would jump, those who Senate has yet to take up his reform tried to sidestep the requirement would be as he crowds Hillary bill. sued, and pressure to pay higher wages Mr. Klein notes the state’s throughout a project would increase. emocratic presidential mortgage agency, SONYMA, has “And it’s very difficult, if not impossible, to launched a “Keep the Dream” candidate Sen. Barack Obama do a project where some parts are getting refinancing program and will start prevailing wage and some are not,” says (right) may not be Brooklyn’s issuing mortgages next month. D Lorraine Bernard Carr, executive director of the New favorite son, but he’s running a strong Also, Secretary of State York State Association for Affordable second. Cortes-Vasquez has developed a brochure to educate home buyers Housing. “In practice, there will be A campaign fundraiser held about dangerous practices. Ms. tremendous pressure to pay prevailing wage istockphoto last week at the New York on the entire project, which would raise costs AFFORDABLE HOUSING is at issue Cortes-Vasquez and state in a prevailing-wage bill. Marriott at the Brooklyn Superintendent of Banking Richard 30% or 40%. That was not the intent of the Bridge sold out within 48 Neiman are among officials who bill.” have attended Mr. Klein’s Housing advocates lobbied bill sponsor Assemblywoman Susan John, hours.The 1,500 attendees hearings. D-Rochester, to carve out housing projects, but she refused. Ms. John paid $25 per ticket, with the A bill Mr. Klein has submitted maintains that her bill would apply only to public works, not housing. exception of students, in the Senate would go beyond Other bill supporters fear that adding a carve-out to the bill would only bloomberg news normal consumer protection create a new loophole. For example, a contractor building a highway off-ramp who paid $15. opening has been slow to spread measures to ban loan flipping and could put a shack next to it, call the whole thing a housing project and qualify Last month, the Illinois senator because it’s summer, and the refinancing where there is no benefit for the exemption. kicked off local campaigning with application deadline has been to the borrower, and would prohibit Mr. Carr says a consortium of nearly 50 affordable-housing groups has an event at the Brooklyn Heights extended to Aug. 28. loans that borrowers cannot afford. been in talks for months with the governor’s staff about the bill, but has not home of hedge fund manager Marek The commission nominates The bill would also punish lenders been told what he intends to do. Ms. John believes he will sign it. Fludzinski and his literary-agent three to seven people, from whom for bad deals. wife, Nina Collins. Attendees paid the governor must choose. $1,000 per person for that more intimate affair. A dead end Spitzer administration personal accounts of Richard Baum, Nevertheless, Mr. Obama can’t New newsstands on BlackBerries staff. But investigators secretary to the governor, and quite match the pull of New York’s hit the streets may not find as many spokeswoman Christine Anderson, own Sen. Hillary Clinton.Through as the “troopergate” probes outgoing e-mails as they they often returned his messages by the end of June, Mr. Obama had cemusa has begun installing the continue, investigators are expect. One insider, who telephone.The insider says the raised $231,000 in Brooklyn, less first newsstands as part of the city’s believed to be looking at worked on the Spitzer- practice of returning e-mails with

than Ms. Clinton’s $424,000. In a $1.3 billion street furniture e-mails from the personal istockphotoPaterson campaign, says phone calls “shows you the level of June poll by the Siena Research contract, including one on the BlackBerry devices kept by top that when he e-mailed the secrecy they operated under.” I Institute, only 13% of New York Upper East Side and one on the state respondents said they would Upper West Side. vote for Mr. Obama over Ms. Chief Executive Toulla Clinton, who garnered 42% of the Constantinou says Cemusa will roll vote. out its 330 newsstands slowly to gauge the reaction of newsstand operators and assess how quickly Buildings must the small buildings can be erected. clean up act The company has promised operators that they will be back in the city department of business within nine days, although Sanitation began writing the work must be coordinated with summonses last week for five Verizon and Con Ed to provide Manhattan apartment buildings telephone and electric service. that have continuously mixed Cemusa won the 20-year contract recycling and trash in the same to build street furniture— dark bags. newsstands, bus shelters and public The DOS, having issued toilets—in New York City.The repeated warnings, is now requiring company began putting up 3,300 the buildings to place all trash and bus shelters in December and 20 recycling in clear plastic bags so that toilets in June. sanitation workers can see if they are complying with city rules.This is the first time DOS has taken this Carrión speaks action. Buildings face further for Clinton summonses if they don’t comply, and the department plans to extend bronx borough President Adolfo the penalties to other buildings. Carrión became the first potential citywide candidate to act as a surrogate for Sen. Hillary Clinton by Court seat promoting her presidential remains open aspirations earlier this month in New Hampshire at a large regional the state commission on Latino festival held annually in Judicial Nomination has extended Manchester. the deadline for applicants to Mr. Carrión, who is Puerto submit their names for an Rican, met with local Hispanic upcoming vacancy on the Court of business leaders, as well as Lillye Appeals. Associate Judge Carmen Ramos Spooner, the first Latina to Beauchamp Ciparick’s term ends Dec. serve on the executive committee of 31. that state’s Democratic Party. Mr. Stephen Younger, counsel to the Carrión says that he anticipates commission, says word of the playing a continuing role in Ms.

August 27, 2007 | Crain’s New York Business | 13 CNYB 08-27-07 A 14 8/23/2007 6:23 PM Page 1

SMALL BUSINESS

teachers, has 140 employees, 80 of whom work remotely. That means Small clients add up for tech company the bulk of the company’s commu- nications go through e-mail. Until recently, the company had its own people here,” Ms. Lee says. profits, that have 10 to 200 employees. server, which crashed periodically. Sinu targets firms By making life easier for small “What they do is not 100% IN A NUTSHELL “We had really struggled in the with fewer than 200 business owners and managers unique,but it is when you look at the past with scalability and e-mail in- whose prosperity increasingly hinges fact that most of its competitors are SINU frastructure,” says Boris Khmelnit- employees; fixed on technology but who cannot af- going after big business,” says Barry skiy, the project’s vice president of ford the time to focus on it them- Cohen, editor in chief of the Edison FOUNDED 1999 information technology. “We’re so price for services selves, Sinu has won over 50 New Group, a Manhattan-based re- dispersed we really had trouble sup- York area companies in the last search firm. EMPLOYEES 15 porting this really broad e-mail en- BY KAREN J. BANNAN seven years. Clients pay the com- In fact, several of Sinu’s key peo- REVENUE Under $5 million gine that is the core of our infra- pany $125 per month per user. In ple honed their tech skills at large structure.” ince Robert De Niro and return, they get state-of-the-art companies. Larry Valez, the firm’s GROWTH IN MONTHLY REVENUE others founded the Tribeca software covering everything from founder, came from the vast infor- 338% in last 18 months Making changes Film Festival five years ago, mation technology department at PREFERRED E-MAIL Microsoft to solve those problems, Sinu it has grown hugely. This Bear Stearns. It was Mr. Valez who Outlook shifted TNTP’s e-mail to a far larg- year it drew 500,000 atten- ‘I’m grateful not saw a potentially huge market in the er, remote server with an emergency MOST POPULAR WEB dees and millions of hits on its Web ranks of small businesses. backup. TNTP also got a business S BROWSERS Microsoft Explorer, site. Mountains of personnel forms, to have to worry intelligence program that could cull applications,and other essential bits Essential service Mozilla Firefox trends and information that TNTP of paper swamped the Tribeca Film about technical his idea is to be the expensive IT can disseminate to its clients. Center’s human resources staff. department that no small company “As head of IT, I’m grateful not In desperation, last November problems’ can afford on its own. To help in- “No matter how well-inten- to have to worry about technical the film center turned to Sinu, a crease efficiency and drive down tioned,a typical consultant only gets problems, and I am pleasantly sur- technology systems and consulting costs, Mr. Valez puts all his cus- paid when something goes wrong or prised with their suggestions to help company. tomers’ key software programs on- a company needs more gear,” says us grow,” Mr. Khmelnitskiy says. “Sinu was able to act as our chief line on shared, remote computers. David Owen, senior vice president A key example: Although the technology officer,” says Mee Lee, e-mail and file management to cus- Clients pick what they need when for Sinu. company never had an intranet, it’s the center’s director of operations. tomer relationship management they sign up and get it for a fixed In many ways,The New Teacher currently in discussions with Sinu to Within three months, the cen- and security—plus 24-hour user price, updates and all. Crucially, the Project in Manhattan is a classic add one. This would give all of ter had installed a new e-mail sys- support. company’s fixed-price model gives it Sinu client—a small outfit with a TNTP’s employees instant access to tem and file server and was on its Sinu owes its success not just to no incentive to sell clients more far-flung staff that technology can company data, Mr. Khmelnitskiy way to digitizing and organizing all what it does, but also to the clients service or software than they need knit together. The company, which notes. of its paperwork. “From the begin- for which it performs its services— and every reason to prevent prob- helps several dozen school districts ning, Sinu often had a troupe of companies, including many non- lems before they occur. across the country attract and retain COMMENTS? [email protected]

With the name, “we’re paying 24,392 square feet at 55 E. 59th St. It Real Estate Deals homage to the place we think the currently leases 19,557 square feet New York bagel was perfected,”says on two floors at 500 Park Ave., Panos Voyiatzis, co-owner of the across from the new location on SoHo clothing manufacturer business. East 59th Street, according to Jean Bates,the director of leasing CoStar Group Inc. at Manhattan Commercial Realty The asking rent for the office Corp., negotiated the deal on behalf condominium was about $80 a fashioning an expansion of the tenant. The asking rent was square foot, according to Andrew about $82 per square foot. Sachs of Cushman & Wakefield If the first Manhattan location Inc., which represented the owner, vating the entire building with new does as well as the Queens stores, DCD Capital. Business will stay floors,elevators,windows and a cen- the company will continue to open Old Lane, founded by former at 148 Lafayette; tral air conditioning system. at least one store annually for the Morgan Stanley executives, was Robert Silver, a Newmark next several years. purchased by Citigroup last Manhattan shop Knight Frank broker, represented —elisabeth butler cordova month. When it originally an- on bagel menu the owner in the deal. nounced the deal in April, it said —elisabeth butler cordova the firm had 16 partners and em- xecutives at apparel Investment firm ployed 120 people in five locations, firm Lafayette 148 have takes new space including London and Mumbai. It decided to keep the ad- Brooklyn Bagel had $4.5 billion in total assets un- dress that inspired their rolling to Chelsea old lane partners crossed the der management and private equi- company’s name for a street to find new space. ty commitments. Ewhile longer. brooklyn bagel & coffee co.is The firm, which manages a Representatives at Old Lane and Founder Deirdre Quinn recently bringing its homemade bagels and hedge fund and a private equity its broker, Newmark Knight Frank, renewed her firm’s lease at 148 lox spreads to Manhattan for the fund, signed a seven-and-a-half- didn’t return calls for comment. Lafayette St., between Grand and first time. The company recently year lease for two floors totaling —theresa agovino Howard streets in SoHo. The 10- signed a 10-year deal for a 2,400- year deal includes a 12,000-square- square-foot shop in Chelsea at 286 Eighth Ave. foot expansion that will bring the 148 LAFAYETTE ST. will remain the home of , between West 24th and EXPLORING CAREERS firm’s holdings to nearly 48,000 apparel firm Lafayette 148. West 25th streets. square feet. “It’s not your run-of-the-mill “We’re in a growth mode,and we bagel store,” says Aaron Gavios, the STUDENTS SEEK HOST BUSINESSES needed the extra space,” Ms. Quinn fore Ms. Quinn decided to stay put. Square Foot Realty broker who THE GREATER NEW YORK COUNCILS EXPLORING PROGRAM is seeking says. “This is where our roots are.” The asking rent was about $55 represented landlord Carlamy Real- businesses to host educational sessions offering high school students the Lafayette 148 makes women’s per square foot. ty in the deal.“They’re doing a pret- opportunity to make better decisions about possible career choices. dresses, jackets and skirts that sell in As part of the new deal, ty extensive build-out.” The Exploring program puts together groups of 15 to 25 students interested boutiques and department stores Lafayette 148 will consolidate onto The shop, which will seat about in specific fields. The student groups meet at the host businesses after school such as Saks Fifth Avenue and Lord floors two through five, with the 30 people, is slated to open by early four or more sessions & Taylor. The company employs showroom on the second floor, of- November. for , learning about career ladders, educational 125 people in the city and expects to fices on the third, pattern-making Brooklyn Bagel is known for requirements, salaries and what people in their selected fields actually do. generate revenue of $75 million this and production facilities on the drawing long lines of customers with Programs start throughout the year, and the timing is tailored to fit year. fourth and a design studio on the its large selection of oversized bagels, business schedules. Participating companies include B.R. Guest Bernard Weitzman, a CB fifth. but the company name is somewhat Restaurants, Bloomberg LP, Microsoft Corp., Newmark & Co. Real Estate Inc. Richard Ellis broker who negotiat- The new showroom won’t be misleading. Brooklyn Bagel is actu- and Crain’s New York Business. ed on behalf of the clothier,searched ready for use until next summer, be- ally a Queens-based business. Its For more information, please call Exploring director Bob Hayes at for alternative locations in TriBeCa, cause the building’s owner, Louis two existing stores operate in Long (212) 651-2808, or visit www.nyexploring.org. SoHo and the garment district be- Dreyfus Property Group, is reno- Island City and Astoria.

14 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 15 8/23/2007 2:33 PM Page 1

HEALTH CARE INSIDE Malpractice coverage is offered to doctors at a discount: Is the deal too good to be true? PAGE 19 Largest health insurers in NYC, ranked by number of members PAGE 20 Fight over high rates heats up Governor wants state approval of health insurance hikes; opponents resist regulations

BY JAY GALLAGHER fter a grueling fight with providers and unions, the Spitzer administration is poised for its next step in improving health care—a battle over reinstating price controls for insurance premium increases. Next year, the governor’s office plans to propose Athat the state stop allowing insurers to set their own rates and refund any excess revenues later. Instead, Gov. Eliot Spitzer wants to return to the pre-1996 system requiring prior approval of rate hikes by the state Insurance Department. Twenty-four other states exercise that power. It won’t be easy for Mr. Spitzer to get a bill through the Legislature, as insurance companies group plans roughly doubled na- and other opponents are gearing up tionally during that same period,ac- for a fight. The chairmen of the in- cording to the Kaiser Family Foun- surance committees for both the dation. With few signs that New Assembly and the Senate are still on York rates will stabilize, the gover- the fence about the issue. nor’s office sees prior approval as an The pressure is mounting, essential step. though, to provide relief from the “We’re not saying as soon as we surging cost of health insurance in get prior approval,rates will become the state. Over the past decade, the affordable for everybody,’’ says Troy Insurance Department reports, Oeschner, deputy state insurance group health insurance premiums superintendent for medical insur- tripled in New York, and premiums ance. However, the change would for individual policies almost qua- give the department a better look at

ismael roldan drupled. In comparison, rates for See RATE FIGHT on Page 16

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August 27, 2007 | Crain’s New York Business | 15 CNYB 08-27-07 A 16 8/23/2007 3:51 PM Page 1

REPORT Rate fight heats up

Continued from Page 15 million in 2001,according to a report the companies’ finances to see if the from Sen. Neil Breslin, D-Albany. hikes are necessary. That profit surge is the reason But the problem of rising health behind a lot of the support for the costs can’t be fixed by more govern- governor’s plan. Vision Care ment regulations, opponents say. Health insurers and others insist New system for Everyone that the reason for the steep hikes is “it makes sense from a public- the rising cost of prescription drugs, policy standpoint to have a system doctor fees and hospital bills.The sit- that makes the industry demon- uation is aggravated by the fact that strate exactly what’s going on and At EyeMed, we see vision care an aging population is using more of how much money they need. It the above every year. Insurers say can be done prudently and fair- that is accessible to everyone. rates have been going up more quick- ly,’’ says Art Levin, director of the ly in New York be- Center for Medical cause hospitals and Consumers. Our vision wellness program medical providers Insurers However,oppo- charge more, and nents argue that is affordable and easy to the state’s seniors returned the public has ben- are receiving more efited since 2000, administer, allowing any medical care than excess when the current others in the rest of system was fully in- company with 10 or more the country. premiums stituted. Although Insurers’ health only 11 times state premium employees to deliver a more care costs are sup- prices continued to posed to equal 75% increase more than of premium income those nationwide, complete benefit package. for small-group pol- the differential be- icies, and 80% for tween policies writ- As a result, employees lead larger groups, with the rest used for ten in New York over the national operating expenses and profits or in- average shrank to a range of 7% happier, healthier and more creased reserves. Any additional to 13% in 2006 from 15% to 22% money they make is supposed to be in 2000, according to Tarren Brag- productive lives. To learn refunded to policyholders. don, a health policy analyst for the But Mr. Oeschner says the cur- Empire Center for New York State rent rules are difficult to enforce. Policy. more about how easy Companies can use accounting gim- The facts suggest that the current micks to hide excess cash they have system needs to be improved, not it is to provide vision taken in, and the Insurance Depart- scrapped, says a spokesman for Ex- ment doesn’t have enough staff to al- cellus Blue Cross Blue Shield, wellness to your employees, ways find it. which has 2 million customers up- state. contact your broker or call Not much excess Excellus uses 88 cents of each while health insurers increased dollar of the $4.8 billion it collected EyeMed at 888-4-EyeMed. premiums 1,123 times from 1996 to in premiums last year for medical 2005,they voluntarily returned excess expenses, with the rest going to pay premiums to customers only 11 times, overhead and a 3% profit. according to Mr. Oeschner. Anoth- “We clearly understand the in- er four times, Insurance Depart- terest in keeping rates down and ment auditors found evidence that making health care affordable,’’ says compelled the companies to return a spokeswoman for the two largest money. Policyholders have received health insurers in New York City, only $82 million, about 0.1% of the GHI and HIP. “But we’re worried money spent purchasing premiums. about the artificial suppression of In the meantime, health insur- rates. What we have to do is attack ance firms have been doing quite the costs of providing care.’’ well. HMO profits in the state dou- bled to $1.3 billion in 2005 from $672 COMMENTS? [email protected]

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16 | Crain’s New York Business | August 27, 2007 Project11 3/22/07 3:26 PM Page 1 CNYB 08-27-07 A 18 8/23/2007 2:36 PM Page 1

REPORT HEALTH CARE THE SOURCES Where New Yorkers’ health coverage comes from. Limited-benefit plans face limits NY # (millions) NY % ican Medical and Life Insurance Eric Motter, Cigna’s vice president Employer 10.1 53% Nationwide surge may not be reflected Co., have begun selling limited- of marketing and product develop- in NY, where regulations hinder growth benefit plans in New York. ment. The company has 7,300 lim- Individual 0.7 4% The city is a particularly attractive ited-benefit members in New York, Medicaid 3.5 18% services at a relatively low cost, have market: An estimated 1 million and he estimates that more than half Medicare 2.2 12% BY ANNA ROBATON been around for years.But with few- adults here are uninsured, and many of them are city residents. er employers offering health in- of them work in industries—includ- Other public 0.07 0% Restricted service the soaring number of people not surance and the price of individual ing retail, hospitality and temporary Uninsured 2.4 13% offered health coverage through policies high, these plans are in- staffing—that usually don’t offer the number of individuals in the their employer is fueling one of the creasingly filling the gap. benefits. Northeast covered under Aetna’s Total 19.0 100% country’s fastest-growing insurance Over the past few years, major “New York City is a big opportu- limited-benefit package has grown Data are for 2005. Total figure has been rounded. Sources: Urban Institute, Kaiser Commission on segments: limited-benefit plans. players such as Aetna Inc.and Cigna nity for us,given the volume of serv- by more than 20% this year, accord- Medicaid and the Census Bureau’s Current The policies, which cover basic Corp., and smaller ones like Amer- ice workers who are uninsured,”says ing to the company. Population Survey

Limited-benefit policies can be priced as low as $40 a month for a single employee. They generally cover routine and preventative serv- ices, including doctor visits and di- agnostic testing, with no or low co- payments. They also provide some coverage for hospitalization and prescription drugs. But the plans face difficulties in the New York market that they don’t elsewhere. The state’s health plan regulations—some of the toughest in the nation—can make it less prof- itable to offer coverage here. For example, insurers wanting to sell restricted policies to New York’s small businesses—companies with fewer than 50 workers—must com- ply with a raft of pricing and other rules. Insurance companies must charge all small employers in a geo- graphic area the same price for the same plan, and they cannot reject any company that applies. Additionally,state regulators can reject plans with annual maximum benefits that are too low to cover hospital bills that would result from a serious illness or accident. Annual benefit caps on limited policies range from $2,000 to $100,000. Short of the mark the plans “provide a little up-front coverage but don’t do much for you if you really get sick,”Gary Claxton, THE HEIGHT OF vice president of the Kaiser Family Foundation. “To some extent, they LUXURY IN DETROIT really aren’t health insurance.” A plan with a $2,000 annual cap wouldn’t be approved in New York, says a spokesman for the state Insur- ance Department.However,nation- wide,86% of employees use less than $1,001 in health benefits a year on an individual policy,according to a study last year from the American Associ- ation of Healthcare Consultants. Officials say there has been no significant rise in the number of re- quests for approval of limited-ben- Burn the midnight oil or go beyond the threshold whether it’s an early morning video conference efit plans. Aetna and Cigna entered of excitement at the new MGM Grand Detroit. with your colleagues or a late-night dinner the market by acquiring smaller firms State-of-the-art technology meets unsurpassed at one of our three signaturerestaurants that specialized in such policies. luxury in our 400 stylish guest rooms and from chefs Wolfgang Puck and Michael Mina. Low-wage workers, who are the suites, private LivingRoom for hotelguests, Experience the height of luxury in surroundings target market for the plans,may find resort-style spa, fitness center and nonstop beyond compare,24-hours a day. Theall new that even the least expensive cover- entertainment. We work around your schedule, MGM Grand Detroit is now taking hotel reservations. age costs too much. “There are many people who are 888.MGM.DETR (646.3387) hourly employees, and if they have to go into their pocket to pay for OPENS OCTOBER 2007 mgmgranddetroit.com coverage,they are not going to,”says ©2007 MGM Grand Detroit Nancy Geller, a senior adviser for benefits consulting firm William M. Mercer Inc.

COMMENTS? [email protected]

18 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 19 8/23/2007 2:38 PM Page 1

REPORT HEALTH CARE

leave the group, Woodworth won’t indemnify them. Choosy malpractice coverage sells This presents a problem because adult patients typically have up to 30 months—and injured children initially because malpractice cases spread out over four years. But Dr. Ackerman also found even longer—after an incident to Woodworth offers usually take a long time to resolve,so In Dr.Ackerman’s case,his previ- that two New York City hospitals file a lawsuit. Settlements or insurance at discount, it’s unlikely a payout would occur in ous insurer, Physicians’ Re- had revoked his privileges. awards might not be made until the first years of a policy. ciprocal Insurers,would have years later. but there are catches Woodworth’s coverage starts at charged him $141,000 for Claim limitations Doctors who leave Woodworth 92%OF NEW YORK just 18.2% of the maximum rate ap- an annual policy this year. OB/GYNS have hospitals that decline can purchase additional coverage BY WENDY DAVIS proved by the state Insurance De- But he was able to purchase been sued Woodworth are concerned that will protect them for claims partment,but increases steadily over coverage through Wood- at least once because the policy only in- while they were members.That cov- the newest company selling the next eight years to reach 100%. worth for just $50,000 for demnifies doctors for claims erage costs up to 550% of a year’s medical malpractice insurance in Doctors also have to pay 111% of the the first year’s premium and a buy-in paid while they belong to the group. premium. New York doesn’t have a caveman at rate set by the department to buy fee. He estimates he’ll save around The limitation means that even if the core of its advertising campaign. into the group; that payment is $400,000 in the next eight years. lawsuits are pending when doctors COMMENTS? [email protected] But it has taken more than a page from Geico’s ads. J.M. Woodworth Risk Reten- tion Group sells malpractice insur- ance only to physicians who either haven’t been sued or don’t have a pattern of losses in those cases. The cheaper initial rates are what drew orthopedic surgeon Dr.Paul Acker- man to sign up after Las Vegas- based Woodworth started operating in New York last year. Dr. Ackerman was particularly pleased with his decision in July af- ter state officials raised malpractice rates 14%, the largest increase in 14 years. The state Insurance Depart- ment sets the rates for the five insur- ers that sell malpractice policies.But Woodworth wasn’t affected, since risk retention groups are subject to federal rather than state regulations. New York’s malpractice rates are the highest in the nation, with some downstate surgeons having to pay more than $300,000 a year. With few options, some physicians have stopped practicing in New York,and more are expected to quit in the next few years. Therefore, Woodworth certainly is an appealing alternative. Low starting rates “doctors are interested in any- thing that’s going to allow them to stay in practice,” says Dr. Robert Goldberg, president of the Medical Society of the State of New York. But Woodworth has many draw- backs. The company’s lower rates end after a customer has held a pol- icy for eight years. Woodworth’s THE NUMBER ONE SMALL BUSINESS ISSUE IS HOW TO policies are not covered by the state guaranty fund in case of bankrupt- PAY FOR HEALTH INSURANCE. IT DOESN’T HAVE TO BE. cy.Meanwhile, doctors with Wood- worth policies are finding that many If you’re not quoting HIP, you can rest assured that your competition is. city hospitals have declined privi-

leges because of liability concerns. * Doctors in all areas are eligible to • 6% Commission on HIP Select EPO/PPO join Woodworth, but the company • 4% Commission on HIP Classic HMO requires that obstetricians and spe- cialists in bariatrics (obesity treat- ment) be part of a group that in- • Plans starting as low as $223/mo. • Free eyeglasses, massage therapy, $200 gym cludes at least 90% other specialists. • Leading facilities like Montefiore Medical Center, reimbursement and alternative medicine.** So far,1,000 New York doctors have North Shore / Long Island Jewish and Lenox Hill Hospital. • Rated “excellent” by the National Committee for signed up with Woodworth,which is • 25,000 physicians in neighborhoods where your managed by Atlanta-based Uni-Ter Quality Assurance for Commercial HMO & POS plans. Group, while 300 other applicants clients live and work. • Flexible cost-sharing options available. have been rejected. Uni-Ter Chief • A broad range of products to suit your client’s needs Executive Sanford Elsass believes for both slice or full replacement. the company can keep payouts and premiums low with its selectivity. Call for more Woodworth’s policies are signif- 1-888-447-7864 Visit HIPUSA.COM icantly cheaper at first than those of- information: fered by the two major New York in-

surers—medical Liability Mutual * For new business on Select EPO/PPO only. Accredited by the National Committee for Quality Assurance (NCQA). A nationally recognized Insurance Co.,which has 60% of the ** Only applies to HIP Classic and Small Group HIP Select EPO/PPO products. evaluation that purchasers, regulators and consumers can use to assess managed care plans. market, and Physicians’ Reciprocal ® 2007 HIP Health Plan of New York. Commercial HMO and Commercial Point-of-Service plans. Insurers, which has 20%. But Woodworth can keep its rates low

August 27, 2007 | Crain’s New York Business | 19 CNYB 08-27-07 A 20 8/23/2007 7:05 PM Page 1

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FEWER INSURERS IN ’07; MEDICAID GIVES BOOST DECLINE The number of health insurers selling policies in New York City fell to 20 in 2007 from 23 a year ago. MEDICAID Healthfirst is the leading provider of Medicaid insurance, with more than 260,000 city members. CHANGE Horizon Healthcare Insurance Co. of New York, ranked No. 15 last year, is now Rayant Insurance Co. of New York, a dental insurance provider. bekka lindström bekka New York City’s Largest Health Insurers Ranked by number of enrolled New York City members

Participating Participating 2006 primary care member NYC members NY area premium 2006 physicians in hospitals Company/ NYC members NYC members in each plan members revenues revenues NY area in NY area Rank Parent or controlling company Phone/Web site Head(s) of NYC office 6/30/071 6/30/061 6/30/07 6/30/071 (in millions) (in millions) 6/30/072 6/30/07

Empire Blue Cross Blue Shield (212) 476-1000 Mark Wagar 3,244,195 2,985,956 HMO:a 4,562,351 $7,824.0 4 $8,599.0 4 19,592 138 1 Liberty Plaza www.empireblue.com President, chief executive PPO:a 1 New York, NY 10006 POS:a WellPoint Inc. Medicaid:a Medicare:a Other:a 3 Aetna (212) 457-0700 Kate Begley, David 1,178,611 859,265 HMO:a 2,201,614 $21,100.0 6 $25,100.0 6 11,116 122 99 Park Ave. www.aetna.com Corkum, Steve Logan PPO:a 2 New York, NY 10016 Region heads POS:a Aetna Medicare:a Other:a 5 GHI (Group Health Inc.) 7 (212) 615-0000 Frank Branchini 915,765 933,475 HMO: 3,239 1,670,191 $2,416.5 $2,453.1 19,594 130 441 Ninth Ave. www.ghi.com Chief executive PPO: 894,124 3 New York, NY 10001 Medicaid: 8,935 EmblemHealth Inc. Medicare: 6,289 Other: 3,178 8 UnitedHealthcare 9 (212) 216-6400 Mike Turpin 901,155 896,907 HMO:a 2,355,561 n/a $71,680.0 6 50,000 12 345 12 1 Penn Plaza www.unitedhealthcare.com Chief executive, PPO:a 4 New York, NY 10121 UnitedHealthcare POS:a UnitedHealth Group Northeast Medicaid:a 10 Medicare:a Other:a 11 HIP Health Plan of New York 7 (646) 447-5000 Daniel T. McGowan 742,243 740,228 HMO: 326,511 1,009,981 $4,069.8 $4,122.9 11,757 142 55 Water St. www.hipusa.com President, chief operating PPO: 2,392 5 New York, NY 10041 officer POS: 30,559 EmblemHealth Inc. Medicaid: 158,723 Medicare: 90,585 Other: 133,473 13 Healthfirst 14 (212) 801-6000 Paul Dickstein 423,483 346,320 HMO: 644 453,534 $1,370.2 $1,387.2 6,567 66 25 Broadway www.healthfirstny.com President, chief executive Medicaid: 263,357 6 New York, NY 10004 Medicare: 56,544 Other: 102,938 8 Health Plus (718) 630-0100 Thomas Early 260,216 264,543 Medicaid: 185,324 263,174 $596.4 $603.1 5,988 71 335 Adams St. www.healthplus-ny.org Executive director Other: 74,892 8 7 Brooklyn, NY 11201 Lutheran Medical Center MetroPlus Health Plan Inc. (212) 908-8600 Arnold Saperstein, M.D. 259,022 241,812 Medicaid: 196,515 259,022 n/d n/d 2,756 19 160 Water St. www.metroplus.org President Other: 62,507 15 8 New York, NY 10038 New York City Health and Hospitals Corp. AmeriChoice of New York (212) 509-5999 Ernest Monfiletto 157,367 162,350 Medicaid: 124,126 208,863 n/d n/d 1,711 16 21 16 7 Hanover Square www.americhoice.com Chief executive Medicare: 791 9 New York, NY 10004 Other: 32,450 8 UnitedHealth Group

Affinity Health Plan 14 (718) 794-7700 Maura Bluestone 147,973 155,538 Medicaid: 102,347 185,424 $488.7 $496.2 3,000 18 69 2500 Halsey St. www.affinityhealthplan.org President, chief executive Medicare: 324 17 10 Bronx, NY 10461 Other: 45,302

Cigna HealthCare of New York (646) 658-7000 Charles Catalano 145,345 147,000 18 HMO:a 320,603 n/d $16,500.0 6 13,609 198 145 E. 45th St. www.cigna.com General manager PPO:a 11 New York, NY 10017 POS:a Cigna Corp. Other:a 19 WellCare of New York Inc. (212) 463-6100 Daniel Parietti 130,500 113,000 Medicaid: 53,500 146,000 $320.0 21 $320.0 2,150 50 11 W. 19th St. www.wellcare.com Chief operating officer Medicare: 13,000 12 New York, NY 10011 Other: 64,000 20 WellCare Health Plans Inc.

Amerigroup Community Care 22 (212) 563-5570 Peter Haytaian 117,000 129,000 Medicaid:a 117,000 $2,796.0 6 $2,835.0 6 2,052 53 360 W. 31st St. www.myamerigroup.com Chief executive Medicare:a 13 New York, NY 10001 Amerigroup Corp. Continued on Page 22

20 | Crain’s New York Business | August 27, 2007 Project2 8/17/07 4:22 PM Page 1

My son made millions when he sold his Web site. But my daughter’s a GHI doctor.

And she’s an integral part of a health plan that’s bringing quality insurance coverage to New York companies. More than half of New York Magazine’s “Best Doctors” are GHI physicians and are affiliated with the best hospitals in New York. With over 124,000 provider locations ready to serve your needs, why not call 1-800-COVERAGE or visit us at ghi.com for more information.

Specializing in Great Doctors

76742r1_GHI259_creative.indd 1 8/16/07 01:06:41 PM CNYB 08-27-07 A 22 8/23/2007 7:07 PM Page 1

REPORT HEALTH CARE

Participating Participating 2006 primary care member NYC members NY area premium 2006 physicians in hospitals Company/ NYC members NYC members in each plan members revenues revenues NY area in NY area Rank Parent or controlling company Phone/Web site Head(s) of NYC office 6/30/071 6/30/061 6/30/07 6/30/071 (in millions) (in millions) 6/30/072 6/30/07

Fidelis Care New York 14 (718) 896-6500 Mark L. Lane 101,100 103,700 Medicaid: 78,600 130,900 $581.1 $609.7 3,815 84 95-25 Queens Blvd. www.fideliscare.org President, chief executive Medicare: 100 8 14 Rego Park, NY 11374 Other: 22,400

NewYork-Presbyterian Community Health Plan (800) 261-4649 J. Emilio Carrillo, M.D. 96,818 62,035 Medicaid: 76,507 96,818 $149.0 $154.2 1,347 22 333 E. 38th St. www.nyp.org/healthplan President, chief medical Other: 20,311 8 15 New York, NY 10016 officer NewYork-Presbyterian Healthcare System Health Net of New York Inc. (212) 856-4500 Steve Nelson 94,265 101,178 HMO: 11,137 239,704 $10,364.7 6 $12.9 6 9,881 100 150 E. 42nd St. www.healthnet.com President PPO: 61 16 New York, NY 10017 POS: 59,136 Health Net Inc. Medicaid: 4 Medicare: 6,387 Other: 17,540 23 Neighborhood Health Providers (212) 883-0883 Steven J. Bory 90,000 100,000 Medicaid: 66,000 90,000 $238.9 $242.2 4,398 45 521 Fifth Ave. www.getnhp.com President, chief executive Medicare: 2,000 17 New York, NY 10175 Other: 22,000 8 MediSys Health Network CenterCare Inc. (718) 286-5099 Mark L. Lane 65,100 74,500 Medicaid: 51,500 65,100 $152.9 $154.3 2,047 44 95-25 Queens Blvd. www.centercare.org President, chief executive Other: 13,600 8 18 Rego Park, NY 11374 Fidelis Care New York Elderplan Inc. (718) 921-7990 Eli S. Feldman, 16,958 17,338 Medicare: 16,958 16,958 n/a $264.0 2,300 34 6323 Seventh Ave. www.elderplan.org President, chief executive 19 Brooklyn, NY 11220 Dudley Gerow Metropolitan Jewish Health System President, managed care, Metropolitan Jewish Health System Atlantis Health Plan Inc. (866) 747-8422 Tom Dwyer 16,000 10,000 HMO: 7,000 16,000 n/d n/d 8,753 39 39 Broadway www.atlantishp.com Chief operating officer POS: 6,500 20 New York, NY 10006 Other: 2,500 24 Atlantis Health Systems

New York area includes New York City and Nassau, Suffolk and Westchester counties in New York, and Bergen, Essex, Hudson and Unioncounties in New Jersey. Crain’s New York Business uses staff research, extensive surveys and the most current references available to produce its lists, but there is no guarantee that the listings are complete.To qualify for this list, companies must offer health insurance products licensed by the appropriate state regulatory agency, and have enrolled members in New York City. All information was provided by the companies, unless otherwise noted. Premium revenues and revenues are for the insurance company based oncalendar year, unless otherwise noted. Indicates that the company offers the plan, but the number of members is not disclosed or not available. HMO-Health maintenanceorganization. PPO-Preferred provider organization. POS-Point of service.n/a Not available.n/d Not disclosed. 1-Employees and their dependents, excluding workers’compensation. 2-Includes OB/GYNs. 3-Child Health Plus, Family Health Plus, indemnity, Medicare Advantage, health savingsaccount/health reimbursementaccount. 4-From Empire’s statutory filings. 5-Health savingsaccount/health reimbursementaccount, compatible high-deductible health plans, indemnity. 6-Figure is for parentorcontrolling company. 7-On Nov. 15, 2006, GHI andHIP were affiliated under a commoncorporate parent, EmblemHealth Inc. Both GHI andHIP remain separate licensed entities. 8-Child Health Plus, Family Health Plus. 9-Includes information for Oxford Health Plans. 10-Managed by AmeriChoice. 11-Exclusive provider organization, Healthy New York. 12-For all counties served in New York and New Jersey. Network for UnitedHealthcare and Oxford Health Plans. 13-Child Health Plus, Family Health Plus, exclusive provider organization, Medicare Cost, Medicare Part D, Pharmacy Stand Alone, PerfectHealth. 14-Parentorcontrolling company is the same. 15-Child Health Plus, Family Health Plus, MetroPlus Gold, HIV special needs plan. 16-UnitedHealthcare Medicaid, Family Health Plus and Child Health Plus have access to this network. 17-Child Health Plus, Family Health Plus, Unicare. 18-Company estimate. 19-Medicare Part D, health savingsaccount/health reimbursementaccount. 20-Child Health Plus, Family Health Plus, prescription drug plan, private fee for service. 21-Excludes premium revenues for prescription drug plan and private fee for service. 22-Amerigroup Community Care operated under the CarePlus Health Planname until Feb. 26, 2007. 23-Exclusive provider organization, administrative services only, MedPrime. 24-Healthy New York. Research: Denise Southwood, Adrianne Pasquarelli and Sarah Studley

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22 | Crain’s New York Business | August 27, 2007 nb35p23_24_25_26cls.qxp 8/23/07 12:16 PM Page 23

BUSINESS MANAGEMENT BUSINESS SERVICES EXECUTIVE PUBLIC & LEGAL NOTICES Business Management Services

Cash Management Services ● Bill Payment RECRUITER Notice of Formation of BLUE SEA Notice of Qualification of AG Diversified Tax & Financial Services ● Financing Assistance CONSTRUCTION CO. LLC. Arts. of Org. filed Credit Strategies GP LLC. Authority filed with (212) 631-9500 ● www.mayercpa.com POSITION AVAILABLE with Secy. of State of N.Y. (SSNY) on Secy. of State of N.Y. (SSNY) on 7/25/07. 3/17/1999 as amended. Office location: NY Office location: NY County. Principal business County. SSNY designated as agent of LLC location: 245 Park Avenue, 26th Fl., NY, NY Fast Growing Retail Real Estate Cash Management & CFO Services upon whom process against it may be served. 10167. LLC formed in Delaware (DE) on Co. is seeking strong, self-motivating SSNY shall mail process to: Three Park Avenue, 6/21/07. SSNY designated as agent of LLC individuals for various positions NY, NY 10016. Purpose: any lawful activity. upon whom process against it may be served. RELOCATION SERVICES SSNY shall mail process to: c/o Corporation including canvassers, junior sales Notice of Qualification of Domino's Pizza Service Company (CSC), 80 State Street, persons — as well as experienced Franchising LLC. Authority filed with NY Albany, NY 12207. DE address of LLC: c/o brokers. Requirements: Bachelor’s Dept. of State on 3/22/07. Office location: CSC, 2711 Centerville Road, Wilmington, in related field, 1–3 Years Experience, NY County. Principal business address: 24 DE 19808. Arts. of Org. filed with DE Secy. Frank Lloyd Wright Dr., Ann Arbor, MI of State, Townsend Bldg., Dover, DE 19901. New York Salesperson/Broker License. 48106. LLC formed in Delaware (DE) on Purpose: any lawful activity. Please send resumes to: 3/2/07. NY Secy. of State designated as [email protected] agent of LLC upon whom process against it Notice of Qualification of Credit Suisse GTAA may be served and shall mail process to: Global Macro Co-Investors, LP. Authority filed POSITION AVAILABLE c/o CT Corporation System, 111 8th Ave., with Secy. of State of N.Y. (SSNY) on 7/11/07. NY, NY 10011, registered agent upon whom Office location: NY County. LP formed in process may be served. DE address of LLC: Katzenbach Partners LLC Delaware (DE) on 5/4/07. SSNY designated as is seeking qualified 1209 Orange St., Wilmington, DE 19801. agent of LP upon whom process against it applicants for the position of Sr. Associate, Arts. of Org. filed with DE Secy. of State, may be served. SSNY shall mail process providing consulting services in the areas 401 Federal St., Dover, DE 19901. Purpose: to principal business location: c/o DLJ LBO TECHNOLOGY SERVICES of management and performance, based any lawful activity. Plans Management Corporation, 11 Madison in New York City. Please send a resume to: Ave., NY, NY 10010. DE address of LP: c/o Katzenbach Partners LLC, Notice of Qualification of CEA Autumn Corporation Service Co., 2711 Centerville Rd., Attn: PSOD-6Y8N75, 381 Park Ave South, Management, LLC, App. for Auth. filed Ste. 400, Wilmington, DE 19808. Name/address TECHNICAL OPERATIONS, INC. 5th Floor, New York, NY 10016 Sec'y of State (SSNY) 5/11/07. Office location: of each genl. ptr. available from SSNY. Cert. of NY County. LLC org. in DE 4/3/07. SSNY LP filed with DE Secy. of State, 401 Federal St., designated as agent of LLC upon whom Dover, DE 19901. Purpose: any lawful activity. process against it may be served. SSNY shall mail copy of process to 101 E. Kennedy • Maintenance Services for • Multimedia Services/ PUBLIC & LEGAL Notice of Qualification of AGMB 400 Mineola, Blvd., Ste. 3300, Tampa, FL 33602. DE office Broadcast and Industrial Manpower L.L.C. Authority filed with NY Dept. of State addr.: c/o Corp. Creations Network, 1308 on 7/5/07. Office location: NY County. LLC A/V Equipment NOTICES Delaware Ave., Wilmington, DE 19806. Cert. of formed in Delaware (DE) on 5/4/07. NY Secy. • Audio/Video Rentals Form. on file: SSDE, Townsend Bldg., Dover, of State designated as agent of LLC upon • Free Pickup & Delivery, DE 19901. Purpose: any lawful activities. Name of LLC: PELLA 166 LLC. Arts. of whom process against it may be served and Loaners Available • System Integration Org. filed NY Dept. of State 6/29/07. County Notice of Qualification of Palatine Hill shall mail process to: c/o CT Corporation off. loc.: New York County. Sec. of State Emerging Markets Fund, LP, App. for Auth. System, 111 8th Ave., NY, NY 10011, TECHNICAL OPERATIONS, INC. • 454 West 41st Street • New York, NY 10036 designated as agent of LLC upon whom filed Sec'y of State (SSNY) 4/23/07. Office registered agent upon whom process may be process against it may be served. Sec. of Phone (212) 465-1318 • Fax (212) 465-2318 • Email: [email protected] location: NY County. LP org. in DE 4/20/07. served. DE address of LLC: The Corporation State shall mail a copy of process to SSNY designated as agent of LP upon whom Trust Co., 1209 Orange St., Wilmington, DE visit us at: www.tech-ops.com Handsman & Kaminsky LLP, 600 Lexington process against it may be served. SSNY shall 19801. Arts. of Org. filed with DE Secy. of Avenue, 10th Floor, New York, NY 10022. mail copy of process to 600 Fifth Ave., 26th State, 401 Federal St., Dover, DE 19901. Purpose: any lawful activity. Fl., NY, NY 10020. DE office addr.: c/o CSC, Purpose: any lawful activity. 2711 Centerville Rd., Wilmington, DE 19808. REAL ESTATE NOTICE OF FORMATION OF LIMITED Cert. of LP on file: SSDE, Townsend Bldg., Notice of Qualification of MayerCap, LLC, LIABILITY COMPANY. NAME: PINE 3103, Dover, DE 19901. Name/addr. of each gen. ptr. filed under the original name Mayer Capital LLC. Articles of Organization were filed avail. at SSNY. Purpose: any lawful activities. Advisors, LLC, App. for Auth. filed Sec'y OFFICE SPACE with the Secretary of State of New York of State (SSNY) 5/13/03. Office loc.: NY (SSNY) on 02/17/06. Office location: New Notice of Formation of EBQ EIS, LLC. Arts. of County. LLC org. in DE 5/8/03. SSNY York County. SSNY has been designated Org. filed with NY Dept. of State on 4/2/07. designated as agent of LLC upon whom IMMEDIATE OFFICE SPACE as agent of the LLC upon whom process Office location: NY County. Secy. of State process against it may be served. SSNY Space by the day, week, month, year and even virtual. against it may be served. SSNY shall mail a designated as agent of LLC upon whom shall mail copy of process to CSC, 2711 copy of process to the LLC, c/o VL Owners, process against it may be served and shall Centerville Rd., Wilmington, DE 19808, 212.573.0909 Inc., ATTN: Sergei Perotine, Manager, 8 mail process to the principal business address the DE office addr. of LLC. Cert. of Form. VornadoFurnishedOffices.com Yellowstone Drive, Old Bridge, New Jersey of the LLC: 1954 Flatbush Ave., Brooklyn, NY on file: SSDE, Townsend Bldg., Dover, DE A 08857. Purpose: For any lawful purpose. 11234. Purpose: any lawful activity. 19901. Purp.: any lawful activities.

90 Park 909 Third 330 Madison 770 Broadway COMPANY REQUEST FOR BIDS OFFICE SPACE Lincoln Center Development Project, Inc. LUXURY Advertisement for Bid • 8-2-07

212-947-5500 Sealed bids for Lincoln Center’s Transportation Improvement Project, Package 5, Concourse Garage Renovations will be received by the Turner Construction PROPERTIES Company, 375 Hudson Street, New York, New York, 10014, on behalf of Lincoln Center Development Project, Inc. on October 5th 2007 at 11:00 am. Sealed FOR ALL OFFICE, RETAIL & LOFT SPACES bids will be publicly opened and read. Each bid must be prepared and submitted in accordance with the Instructions to Bidders and must be accompanied New York City, Brooklyn, Queens by a bid bond in the amount of 5% of the bid value. 500–50,000 SF MANHATTAN UNDER MARKET SUBLETS – NO FEE! The scope of work includes creation of a new vehicle entrance ramp, ventilation fan room, and reconfiguration of an existing loading dock. The work includes Search our listings @ www.midcomre.com 5 Upper 5th Avenue Condo demolition, excavation, concrete, miscellaneous general carpentry, reconfigured and expanded fire alarm system, reconfigured ventilation with CO monitoring Call Paul 212 947-5500 x 100 T (116/115 Street 5th Avenue) and control, fire protection system, emergency lighting, emergency generator and life safety emergency power infrastructure. H Incredible 2 bed / 2 bath Condo This project involves phasing and logistical considerations dictated by a fully operational performing arts campus, thus work procedures will be governed by INVESTMENT OPPORTUNITY A w/ Terrace. In a GREEN Bldg, Space the Rules and Regulations and supplementary general conditions included in the bidding documents. v e and closets galore, Sunny with lots of The project schedule is November 2007 through November 2008. Anticipated total cost of the project is between $27 MM to $31MM. Boutique Development Site n windows. Low maint. and taxes. Asking Steps from Columbia University u All successful bidders will be required to provide a performance bond in the amount of 100% of the bid value and a payment bond as follows: u $675k. Call Marvin at 917 685-5855 306-308 West 116th St., approved plans e www.contemporaryharlem.com 1) 50% of the contract price if the contract price is not more than $1,000,000 by DOB for 20,450 SF bldg. 8 floors, 2) 40% of the contract price if the contract price is more than $1,000,000 but not more than $5,000,000 6 parking spaces, Phase I Environ ROCKLAND COUNTY 3) $2,500,000 if the contract price is more than $5,000,000 complete. $4.4M Shelley Rankin This Contract is subject to the Federal Transit Administration (FTA) requirements, including the Disadvantaged Business Enterprise (DBE) requirements. DBE goal is 11%. Warburg Realty Partnership Upper Grandview, New York 212-920-7282 Interested bidders are strongly encouraged to submit Vendex applications to the Mayors Office of Contracts as Vendex is a contract requirement. Three exclusively private acres, beautiful, There will be an optional Site Walk through on 9/5/07 at 1:30 pm. ROCKLAND COUNTY unobstructed Tappan Zee Bridge/Hudson River views. 3 bedrooms, 3 full bathrooms, There will be an optional Pre-Bid Conference, suggested but not mandatory, for all interested bidders to be held at the field offices of Turner Construction, decks on every level. 3800 square feet. 140 West 65th Street, New York, New York 10023 on 9/11/07 at 1:30 pm Spacious Gated Yard for Rent $8000/monthly or offered for purchase at Bidders are advised of the following Bid Packages: Located in Sparkill, NY Can be $1,500,000. Call Brenda (201) 944-1177 or used for parking (Limo, Taxi or (914) 497-4111 Bid Package # 5– GC–General Contractor (includes scopes of work as shown on Drawings and Specifications enumerated by the Architectural, Structural and Civil/Traffic Table of Contents pages TOC-1 through TOC-6). Landscaping Company, or even Bid Package # 5– Plumbing Construction Company) Can Fit Bid Package # 5– Fire Protection about 22 Cars. Call with offer Advertise on Bid Package # 5– H.V.A.C 201-944-1177 - Brenda Bid Package # 5– Electrical Bid documents will be available beginning on August 24, 2007 at: BERGEN COUNTY www.newyorkbusiness.com BPI Reprographics 11 Broadway, New York, New York 10004 Office Space Available - Fort Lee Phone: 212-514-8010 Separate entrance, on-site parking, Utilities Call John Gallagher Fax: 212-514-8038 included bathroom, kitchen and large office Attention: Irwin Sherman space furnished or unfurnished. $3500/month. @ 212-210-0189 Please call to place an order before pickup. The cost of the bid documents is $75.00 and is refundable in accordance with instructions included in bid documents. Call Brenda (201) 944-1177 For Assistance pertaining to this Advertisement, contact Anthony Juhas, at 212-229-6176 or Keith Finerty at 212-229-6457.

August 27, 2007 | Crain’s New York Business | 23 nb35p23_24_25_26cls.qxp 8/23/07 12:17 PM Page 24

PUBLIC & LEGAL NOTICES

Notice of Qualification of CRP/Extell 99 West Notice of Formation of YA ASSOCIATES, LLC. NOTICE OF FORMATION of PowerPlays Notice of Qualification of Caminus Capital Notice of Qualification of Ameriflight, LLC. Side LLC. Authority filed with Secy. of State Arts. of Org. filed with Secy. of State of N.Y. Coaching, LLC. Arts. Of Org. filed with Secy. Partners, LLC, filed under the original name Authority filed with Secy. of State of N.Y. of NY (SSNY) on 3/22/07. Office location: (SSNY) on 7/13/1999. Office location: NY Of State of NY (SSNY) on 06/27/07. Office Rye-Vencil Capital, LLC, App. for Auth. filed (SSNY) on 6/28/07. Office location: NY NY County. LLC formed in Delaware (DE) County. SSNY designated as agent of LLC location: New York County. SSNY designated Sec'y of State (SSNY) 2/21/02. Office location: County. LLC formed in Nevada (NV) on on 3/6/07. SSNY designated as agent of upon whom process against it may be served. as agent of LLC upon whom process against NY County. LLC org. in DE 2/14/02. SSNY 5/11/05. SSNY designated as agent of LLC LLC upon whom process against it may be SSNY shall mail process to: Three Park Avenue, it may be served. SSNY shall mail process to: designated as agent of LLC upon whom upon whom process against it may be served. SSNY shall mail process to: c/o CT NY, NY 10016. Purpose: any lawful activity. The LLC, 2576 Broadway, #243, New York, process against it may be served. SSNY shall served. SSNY shall mail process to: c/o CT Corporation System, 111 Eighth Ave, NY, NY NY 10025. Purpose: any lawful activity. mail copy of process to Attn: Joseph W. Corporation System, 111 8th Ave., NY, NY 10011. Address to be maintained in DE: c/o Notice of Qualification of D. E. Shaw CF-SP Vencil, 51 W. 95th St., NY, NY 10025. DE 10011, registered agent upon whom process The Corporation Trust Company, 1209 Orange Series 5-08 (C), L.L.C. Authority filed with NY 45 STONE STREET LLC, a domestic Limited office addr.: c/o CSC, 2711 Centerville Rd., may be served. Principal office of LLC: 4700 St., Wilmington, DE 19801. Arts. of Org. Dept. of State on 6/14/07. Office location: NY Liability Company (LLC) filed with the Sec Wilmington, DE 19808. Cert. of Form. on file: Empire Ave., Burbank, CA 91505. Arts. of filed with DE Secy. Of State, 401 Federal County. LLC formed in Delaware (DE) on of State of NY (SSNY) on 4/14/05. NY SSDE, Townsend Bldg., Dover, DE 19901. Org. filed with NV Secy. of State, 202 North St., Ste 4., Dover, DE 19901. Purpose: any 12/19/06. NY Secy. of State designated as office Location: NEW YORK County. SSNY Purpose: any lawful activities. Carson St., Carson City, NV 89701. Purpose: lawful activities. agent of LLC upon whom process against it is designated as agent upon whom process all lawful purposes. may be served and shall mail process to: D. against the LLC may be served. SSNY shall Notice of Qualification of D. E. Shaw Composite Name of LLC: JR Grafik Design LLC. Arts. of E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., mail a copy of any process against the LLC Side Pocket Series 4, L.L.C. Authority filed Notice of Qualification of BREOF BNK2 New Org. filed with NY Dept. of State on 5/31/2007. Tower 45, NY, NY 10036, Attn: Bertrand C. served upon him/her to THE LLC, 2221 with NY Dept. of State on 6/14/07. Office York LLC. Authority filed with NY Dept. of Office location: NY County. Secy. of State Fry, General Counsel, registered agent upon ROYCE STREET, BROOKLYN, NY 11234. location: NY County. LLC formed in Delaware State on 8/1/07. Office location: NY County. designated as agent of LLC upon whom whom process may be served. DE address of General purposes. (DE) on 9/20/06. NY Secy. of State designated Principal business address: 3 World Financial process against it may be served and shall LLC: 1209 Orange St., Wilmington, DE 19801. as agent of LLC upon whom process against Ctr., 3rd Fl., NY, NY 10281. LLC formed in mail process to: c/o Business Filings Inc., Arts. of Org. filed with DE Secy. of State, 401 Notice of Qualification of Harbert Merger it may be served and shall mail process to: D. Delaware (DE) on 7/24/07. NY Secy. of State 187 Wolf Rd., Ste. 101, Albany, NY 12205, Federal St., Dover, DE 19901. Purpose: any Arbitrage and Event Driven GP, L.L.C., App. for E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., designated as agent of LLC upon whom registered agent upon whom process may be lawful activity. Auth. filed Sec'y of State (SSNY) 11/2/06. Tower 45, NY, NY 10036, Attn: Bertrand C. process against it may be served and shall served. Term: until 12/31/2047. Purpose: any Office location: NY County. LLC org. in DE Fry, General Counsel, registered agent upon mail process to: c/o CT Corporation System, lawful activity. NOTICE OF FORMATION OF HARMONEX LLC, 10/31/06. SSNY designated as agent of LLC whom process may be served. DE address of 111 8th Ave., NY, NY 10011. DE address of Arts. Of Org. filed with SSNY on 03/08/01. upon whom process against it may be served. LLC: 1209 Orange St., Wilmington, DE 19801. LLC: 1209 Orange St., Wilmington, DE 19801. PHOENIX INVESTMENTS AND DEVELOPMENT Off. Loc.: NY County, SSNY designated as SSNY shall mail copy of process to 555 Arts. of Org. filed with DE Secy. of State, 401 Arts. of Org. filed with DE Secy. of State, 401 LLC, a domestic Limited Liability Company agent of LLC upon whom process against it Madison Ave., 16th Fl., NY, NY 10022. DE Federal St., Dover, DE 19901. Purpose: any Federal St., Dover, DE 19901. Purpose: any (LLC) filed with the Sec of State of NY may be served. SSNY shall mail a copy of office addr.: c/o CSC, 2711 Centerville Rd., lawful activity. lawful activity. (SSNY) on 6/07/07. NY office Location: process to: The LLC, 161 Madison Ave., Wilmington, DE 19808. Cert. of Form. on file: SSDE, Townsend Bldg., Dover, DE 19901. NEW YORK County. SSNY is designated as 12th/FL, NewYork, NY 10016. Purpose: to Notice of formation of Just In Title Agency, DAVID GUYER, LLC Articles of Org. filed NY Purpose: any lawful activities. agent upon whom process against the LLC engage in any lawful act. LLC. Arts. of Org. filed with the Secy. of State Sec. of State (SSNY) 5/1/07. Office in NY Co. may be served. SSNY shall mail a copy of of NY (SSNY) on 7/3/07. Office location: New Notice of Qualification of Arden Institutional SSNY desig. agent of LLC upon whom any process against the LLC served upon Notice of Qualification of Chester 11 Park York. SSNY designated as agent of LLC upon Advisers II MS Feeder, L.P., App. for Auth. filed process may be served. SSNY shall mail copy him/her to DESENA & ASSOCIATES, LLP, Avenue, L.L.C. Authority filed with Secy. of whom process against it may be served. Sec'y of State (SSNY) 5/18/07. Office location: of process to 279 Central Park W., #16B, NY, 225 BROADWAY, STE. 901, NEW YORK, NY State of N.Y. (SSNY) on 5/22/07. Office SSNY shall mail process to Principal business NY County. LP org. in DE 4/16/07. SSNY NY 10024. Purpose: Any lawful purpose. 10007. General purposes. location: NY County. LLC formed in Delaware location: 280 Madison Ave., Suite 705B, NY, designated as agent of LP upon whom (DE) on 5/18/07. SSNY designated as agent NY 10016. Purpose: Any lawful act. process against it may be served. SSNY shall Notice of Qualification of DB Midtown TDR Notice of Qualification of Normandy NV of LLC upon whom process against it may be mail copy of process to Attn: Averell H. LLC. Authority filed with NY Dept. of State on Westchester Owner, LLC. Authority filed with served. SSNY shall mail process to: c/o The Mortimer, 375 Park Ave., 32nd Fl., NY, NY Notice of Qualification of Perseus Market 12/26/06. Office location: NY County. LLC Secy. of State of N.Y. (SSNY) on 6/29/07. Cheshire Group L.L.C., 475 Fifth Ave., 12th 10152. DE office addr.: c/o CSC, 2711 Opportunity Management, L.L.C. Authority formed in Delaware (DE) on 12/11/06. NY Office location: NY County. LLC formed in Fl., NY, NY 10017, Attn: Ms. Susan Hewitt. Centerville Rd., Wilmington, DE 19808. Cert. filed with NY Dept. of State on 7/18/07. Office Secy. of State designated as agent of LLC Delaware (DE) on 6/12/07. SSNY designated DE address of LLC: United Corporate Services, of LP on file: SSDE, Townsend Bldg., Dover, location: NY County. Principal business upon whom process against it may be served as agent of LLC upon whom process against Inc., 874 Walker Rd., Ste. C, Dover, DE DE 19901. Name/addr. of each gen. ptr. avail. address: 2099 Pennsylvania Ave., NW, Ste. and shall mail process to: 1345 Ave. of the it may be served. SSNY shall mail process to: 19904. Arts. of Org. filed with DE Secy. of at SSNY. Purpose: any lawful activities. 900, Washington, DC 20006. LLC formed in Americas, 46th Fl., NY, NY 10105, principal c/o CT Corporation System, 111 8th Ave., NY, State, 401 Federal St., Ste. 4, Dover, DE Delaware (DE) on 10/2/01. NY Secy. of State business address of the LLC. DE address of NY 10011, registered agent upon whom 19901. Purpose: any lawful activity. Notice of Qualification of Battery Park High designated as agent of LLC upon whom LLC: National Corporate Research, Ltd., 615 process may be served. DE address of LLC: Yield Opportunity Fund, L.P., App. for Auth. process against it may be served and shall S. DuPont Hwy., Dover, DE 19901. Cert. of c/o The Corporation Trust Company, 1209 Notice of Qualification of EB Personal Risk filed Sec'y of State (SSNY) 6/4/01. Office mail process to: c/o CT Corporation System, Form. filed with DE Secy. of State, Div. of Orange St., Wilmington, DE 19801. Arts. of Management Solutions, LLC. Authority filed location: NY County. LP org. in DE 5/30/01. 111 8th Ave., NY, NY 10011, registered agent Corps., Townsend Bldg., Dover, DE 19901. Org. filed with DE Secy. of State, 401 Federal with NY Dept. of State on 4/20/07. Office SSNY designated as agent of LP upon upon whom process may be served. DE Purpose: any lawful activity. St., Ste. 4, Dover, DE 19901. Purpose: real location: NY County. LLC formed in Delaware whom process against it may be served. address of LLC: 1209 Orange St., Wilmington, estate investment. (DE) on 3/2/07. NY Secy. of State designated SSNY shall mail copy of process to 2 World DE 19801. Arts. of Org. filed with DE Secy. of Notice of Qualification of GE Westbury Holding as agent of LLC upon whom process against Financial Ctr., Bldg. B, NY, NY 10281. DE State, 401 Federal St., Dover, DE 19901. Notice of Qualification of R.M. Sincerbeaux LLC. Authority filed with Secy. of State of N.Y. it may be served and shall mail process to: c/o office addr.: c/o CSC, 2711 Centerville Rd., Purpose: all lawful purposes. Capital Management, LLC, App. for Auth. filed (SSNY) on 7/11/07. Office location: NY CT Corporation System, 111 8th Ave., NY, NY Wilmington, DE 19808. Cert. of LP on file: Sec'y of State (SSNY) 4/11/07. Office location: County. LLC formed in Delaware (DE) on 10011, registered agent upon whom process SSDE, Townsend Bldg., Dover, DE 19901. NY County. LLC org. in DE 4/10/07. SSNY IN THE US DIST. COURT FOR THE NORTHERN 7/10/07. SSNY designated as agent of LLC may be served. Principal business address: 6 Name/addr. of each gen. ptr. avail. at SSNY. designated as agent of LLC upon whom DIST. OF ILL. FREDERICK KAUFMANN Plaintiff upon whom process against it may be served. E. 42nd St., NY, NY 10017. Arts. of Org. filed Purpose: any lawful activities. process against it may be served. SSNY shall v. RONALD KUZON et al. Defendants, 07 C SSNY shall mail process to: c/o JPMorgan with DE Secy. of State, Townsend Bldg., 1633 To: Ronald Kuzon and Joshua Kuzon, Chase Bank, Attn: Diane McGuire, 345 Park mail copy of process to Attn: Richard M. Dover, DE 19901. Purpose: any lawful activity. Notice of Qualification of Dunlop General Sincerbeaux, 525 E. 72nd St., Apt. 39H, NY, Defendants for service by publication. TAKE Ave., 8th Fl., NY, NY 10154. DE address of Partner, LLC, App. for Auth. filed Sec'y of NOTICE that Plaintiff, Frederick Kaufmann, has NY 10021. DE office addr.: c/o CSC, 2711 Notice of Qualification of DB SAM LLC. LLC: Corporation Service Company, 2711 State (SSNY) 7/29/04. Office location: NY filed a Summons and Complaint seeking relief Centerville Rd., Wilmington, DE 19808. Cert. of Authority filed with NY Dept. of State on 7/5/07. Centerville Rd., Ste. 400, Wilmington, DE County. LLC org. in DE 7/28/04. SSNY in this case. The case alleges violations of Form. on file: SSDE, Townsend Bldg., Dover, Office location: NY County. LLC formed in 19808. Arts. of Org. filed with DE Secy. of designated as agent of LLC upon whom securities law. You must answer this DE 19901. Purpose: any lawful activities. Delaware (DE) on 6/28/07. NY Secy. of State State, 401 Federal St., Ste. 4, Dover, DE process against it may be served. SSNY complaint no later than twenty days after designated as agent of LLC upon whom process 19901. Purpose: any lawful activity. shall mail copy of process to 39 Broadway, final publication of this notice. Upon failure Notice of Qualification of Blackstone against it may be served and shall mail process 36th Fl., NY, NY 10006. DE office addr.: c/o to do so, Plaintiff will seek default judgment. Customized Commodities Master Fund II L.P., to: 1345 Ave. of the Americas, 46th Fl., NY, NY Notice of Qualification of Granite Companies CSC, 2711 Centerville Rd., Wilmington, DE Contact Plaintiff’s Attorney: Enterprise Law App. for Auth. filed Sec'y of State (SSNY) 10105, principal business address of the LLC. LLC. Authority filed with Secy. of State of 19808. Cert. of Form. on file: SSDE, Townsend Group, LLP; 70 W. Madison, #740, Chicago, 3/14/07. Office location: NY County. LP org. in DE address of LLC: The Corporation Trust Co., NY on 01/24/06. Office loc.: NY Co. LLC Bldg., Dover, DE 19901. Purpose: any lawful IL 60602; 312-578-0200; 312-578-0202; DE 3/13/07. SSNY designated as agent of LP 1209 Orange St., Wilmington, DE 19801. Arts. formed in Delaware (DE) on 11/07/03. SSNY activities. Firm ID 40994 upon whom process against it may be served. of Org. filed with DE Secy. of State, Div. of designated as agent upon whom process SSNY shall mail copy of process to Attn: J. Corps., Townsend Bldg., Dover, DE 19901. against it may be served and shall mail Notice of Qualification of BMOF I LLC, App. D BOBER, LLC, a domestic Limited Liability process to the principal business address of Tomilson Hill, 345 Park Ave., NY, NY 10154. Purpose: any lawful activity. for Auth. filed Sec'y of State (SSNY) 12/3/04. DE office addr.: c/o CSC, 2711 Centerville Rd., Company (LLC) filed with the Sec of State of the LLC: 214 W. 39th Street, NY, NY 10008. Office location: NY County. LLC org. in DE NY (SSNY) on 6/04/07. Office Location: NEW DE address of LLC: c/o The Corporation Wilmington, DE 19808. Cert. of LP on file: Notice of Qualification of Mount Daly Partners, 11/30/04. SSNY designated as agent of LLC SSDE, Townsend Bldg., Dover, DE 19901. LLC. Authority filed with Secy. of State of N.Y. YORK County. SSNY is designated as agent Trust Co., 1209 Orange St., Wilmington, DE upon whom process against it may be served. upon whom process against the LLC may be 19801. Cert. of Form. filed with DE Secy. of Name/addr. of each gen. ptr. avail. at SSNY. (SSNY) on 7/6/07. Office location: NY County. SSNY shall mail copy of process to 345 Purpose: any lawful activities. Principal business location: c/o Sopris Capital served. SSNY shall mail a copy of any process State, 401 Federal St., Dover, DE 19901. Park Ave., NY, NY 10154. DE office addr.: against the LLC served upon him/her to DAVID Purpose: any lawful activity. Associates, LLC, 350 Park Ave., 24th Fl., NY, c/o CSC, 2711 Centerville Rd., Wilmington, Notice of Formation of 200 West 55th Street, NY. LLC formed in Delaware (DE) on 5/31/07. BOBER, 260 WEST 54TH STREET, 39E, NEW DE 19808. Cert. of Form. on file: SSDE, YORK, NY 10019. General purposes. LLC, Art. of Org. filed Sec'y of State (SSNY) SSNY designated as agent of LLC upon whom Townsend Bldg., Dover, DE 19901. Purpose: Notice of Qualification of GS Employee Fund 11/21/05. Office location: NY County. SSNY process against it may be served. SSNY shall any lawful activities. 2000 Offshore (Corporate), L.P. Authority filed designated as agent of LLC upon whom mail process to: c/o Corporation Service Notice of Formation of MG Retail LLC. Arts. of with Secy. of State of N.Y. (SSNY) on 5/16/07. process against it may be served. SSNY Company, 80 State St., Albany, NY 12207. DE Notice of Qualification of Akana Incubator Org. filed with Secy. of State of NY on 08/26/05. Office location: NY County. LP formed in shall mail copy of process to c/o Dahan & address of LLC: 2711 Centerville Rd., Ste. Fund, LP, App. for Auth. filed Sec'y of State Office loc.: NY Co. SSNY designated as Cayman Islands (CI) on 8/1/00. SSNY Nowick LLP, 1700 Broadway, NY, NY 10019. 400, Wilmington, DE 19808. Arts. of Org. filed (SSNY) 12/5/06. Office location: NY County. agent upon whom process against it may designated as agent of LP upon whom process Purpose: any lawful activities. with DE Secy. of State, 401 Federal St., Ste. 4, LP org. in DE 12/4/06. SSNY designated as be served and shall mail process to: the against it may be served. SSNY shall mail Dover, DE 19901. Purpose: any lawful activity. agent of LP upon whom process against it LLC, 214 W. 39th Street, NY, NY 10008. process to: 85 Broad St., NY, NY 10004. CI Notice of Qualification of RCPI 30 ROCK may be served. SSNY shall mail copy of Purpose: any lawful activity address of LP: c/o M & C Corporate Services 22234849, L.L.C. Authority filed with Secy Notice of Qualification of Traxis Emerging process to Attn: John Bu, 444 Madison Ave., Ltd., P.O. Box 309GT, Ugland House, South of State of NY (SSNY) on 06/18/07. Office Markets Opportunities Onshore Fund GP LLC. 12th Fl., NY, NY 10022. DE office addr.: c/o Notice of Qualification of Municipal Real Estate Church St., George Town, Grand Cayman, CI, location: New York County. LLC formed in Authority filed with Secy. of State of N.Y. CSC, 2711 Centerville Rd., Wilmington, DE Holdings, LLC. Authority filed with Secy. of BWI. Name/address of each genl. ptr. available Delaware (DE) on 06/05/07. SSNY designated (SSNY) on 6/25/07. Office location: NY 19808. Cert. of LP on file: SSDE, Townsend State of N.Y. (SSNY) on 6/11/07. Office location: from SSNY. Cert. of LP filed with Registrar of as agent of LLC upon whom process against County. Principal business location: 600 Fifth Bldg., Dover, DE 19901. Name/addr. of each NY County. Principal business location: 2929 Exempted LPs, Elizabethan Sq., 4th Fl., Phase it may be served. SSNY shall mail process Ave., 20th Fl., NY, NY 10020. LLC formed in gen. ptr. avail. at SSNY. Purpose: any lawful Arch St., 17th Fl., Philadelphia, PA 19104. LLC Four, George Town, Grand Cayman, CI. to: National Registered Agents, Inc., 875 Delaware (DE) on 4/30/07. SSNY designated activities. formed in Delaware (DE) on 4/23/07. SSNY Purpose: any lawful activity. Avenue of the Americas, Ste 501, New York, as agent of LLC upon whom process against designated as agent of LLC upon whom NY 10001. NRAI is Registered Agent as well. it may be served. SSNY shall mail process to: Notice of Formation of Shruti Realty, LLC, Art. process against it may be served. SSNY shall ISHIDA/CRANDALL LLC Articles of Org. Address required to be maintained in home c/o Corporation Service Company (CSC), 80 of Org. filed Sec'y of State (SSNY) 4/11/07. mail process to: c/o Corporation Service filed NY Sec. of State (SSNY) 7/17/07. Office jurisdiction: 160 Greentree Drive, Ste 101, State St., Albany, NY 12207, registered agent Office location: NY County. SSNY designated Company (CSC), 80 State St., Albany, NY in NY Co. SSNY desig. agent of LLC upon Dover, DE 19904. Arts of Org filed with Secy upon whom process may be served. DE as agent of LLC upon whom process against 12207. DE address of LLC: c/o CSC, 2711 whom process may be served. SSNY shall of State, Div of Corporations, John G. address of LLC: CSC, 2711 Centerville Road, it may be served. SSNY shall mail copy of Centerville Rd., Wilmington, DE 19808. Arts. mail copy of process to 373 Broadway, Townsend Bldg., Federal & Duke of York Wilmington, DE 19808. Cert. of Form. filed process to Myron Kove, Esq., 1199 Park of Org. filed with DE Secy. of State, 401 Ste. D8, NY, NY 10013, which is also the Streets, P.O. Box 898, Dover, DE 19903. with DE Secy. of State, Townsend Bldg., Dover, Ave., Apt. 8F, NY, NY 10128. Purpose: any Federal St., Ste. 4, Dover, DE 19901. principal business location. Purpose: Any Purpose: Any lawful purpose. DE 19901. Purpose: any lawful activity. lawful activities. Purpose: any lawful activity. lawful purpose.

24 | Crain’s New York Business | August 27, 2007 nb35p23_24_25_26cls.qxp 8/23/07 12:17 PM Page 25

PUBLIC & LEGAL NOTICES

Notice of Formation of AEROSCAPE-NYC Notice of Qualification of Merrill Lynch Notice of Qualification of AIREA Capital, LLC. Notice of Formation of LK 530 LLC. Arts. of Notice of Formation of Impark Cadman LLC. LLC. Arts. of Org. filed with Secy. of State of Purchase Price Investment LLC. Authority Authority filed with Secy. of State of N.Y. Org. filed with Secy. of State of N.Y. (SSNY) Arts. of Org. filed with Secy. of State of NY N.Y. (SSNY) on 6/14/07. Office location: NY filed with NY Dept. of State on 7/27/07. Office (SSNY) on 6/18/07. Office location: NY County. on 7/18/07. Office location: NY County. (SSNY) on 3/3/06. Office location: NY County. County. SSNY designated as agent of LLC location: NY County. LLC formed in Delaware Principal business location: 115 Broadway, Principal business location: 737 Park Ave., NY, SSNY designated as agent of LLC upon whom upon whom process against it may be (DE) on 6/26/07. NY Secy. of State designated Ste. 403, NY, NY 10006. LLC formed in NY 10021. SSNY designated as agent of LLC process against it may be served and shall served. SSNY shall mail process to: DLA as agent of LLC upon whom process against Delaware (DE) on 4/30/07. SSNY designated upon whom process against it may be served. mail process to: c/o CT Corporation System, Piper US LLP, 1251 Avenue of the Americas, it may be served and shall mail process to: as agent of LLC upon whom process against it SSNY shall mail process to: c/o Corporation 111 8th Ave., NY, NY 10011, registered agent NY, NY 10020, Attn: Xavier Jones. Purpose: 225 Liberty St., 2 World Financial Center, may be served. SSNY shall mail process to: Service Company, 80 State St., Albany, NY upon whom process may be served. Purpose: any lawful activity. South Tower, 7th Fl., NY, NY 10281, principal c/o Corporation Service Company, 80 State 12207. Purpose: any lawful activity. any lawful activity. business address of the LLC. DE address of St., Albany, NY 12207. DE address of LLC: NOTICE OF QUALIFICATION OF Clerestory LLC: The Corporation Trust Co., 1209 Orange 2711 Centerville Rd., Ste. 400, Wilmington, DE Notice of Qualification of North Hill Holding Notice of Qualification of Och-Ziff Real Estate Capital Advisors LLC. Application for Authority St., Wilmington, DE 19801. Arts. of Org. filed 19808. Arts. of Org. filed with DE Secy. of of New York, LLC. Authority filed with NY Management, L.L.C. Authority filed with NY filed with the Secy. of State of New York (SSNY) with DE Secy. of State, P.O. Box 898, Dover, State, Townsend Bldg., Dover, DE 19901. Dept. of State on 8/3/07. Office location: NY Dept. of State on 5/29/07. Office location: NY on 4/12/07. N.Y. Office Location: New York DE 19903. Purpose: any lawful activity. Purpose: any lawful activity. County. LLC formed in Delaware (DE) on County. Principal business address: 9 W. County. LLC formed in Delaware on January 5, 7/16/07. NY Secy. of State designated as 57th St., NY, NY 10019. LLC formed in 2007. SSNY has been designated as agent of NOTICE OF FORMATION OF LIMITED LIABILITY Notice of Qualification of Lanexa Global agent of LLC upon whom process against it Delaware (DE) on 11/14/03. NY Secy. of LLC upon whom process against it may be COMPANY. NAME: NEWTON INTERNATIONAL Management, LP, filed under the original name may be served and shall mail process to State designated as agent of LLC upon whom served and shall mail process to the principal LLC. Articles of Organization were filed with Camber Global Management, LP, App. for the principal business address of the LLC: process against it may be served and shall business address of the LLC: 11 East 44th the Secretary of State of New York (SSNY) Auth. filed Sec'y of State (SSNY) 5/5/06. Office 51 E. 42nd St., Ste. 300, NY, NY 10017. DE mail process to: c/o CT Corporation System, Street, Suite 1603, New York, NY 10017. DE on 04/06/07. Office location: New York County. location: NY County. LP org. in DE 4/10/06. address of LLC: c/o The Corporation Trust 111 8th Ave., NY, NY 10011, registered agent address of LLC: 2711 Centerville Rd., STE SSNY has been designated as agent of the SSNY designated as agent of LP upon whom Co., 1209 Orange St., Wilmington, DE 19801. upon whom process may be served. DE 400, Wilmington, DE 19808. Arts. of Org. filed LLC upon whom process against it may be process against it may be served. SSNY shall Arts. of Org. filed with DE Secy. of State, address of LLC: The Corporation Trust Co., with DE Secy. of State, Division of Corporations, served. SSNY shall mail a copy of process to mail copy of process to 101 Park Ave., 21st 401 Federal St., Dover, DE 19901. Purpose: 1209 Orange St., Wilmington, DE 19801. 401 Federal Street, Suite 4, Dover, DE 19901. the LLC, c/o Newton Hotel, 2528 Broadway, Fl., NY, NY 10178. DE office addr.: c/o CTC, any lawful activity. Arts. of Org. filed with DE Secy. of State, Purpose: any lawful activities. New York, New York 10025, ATTN: Linda 1209 Orange St., Wilmington, DE 19801. Cert. Townsend Bldg., Dover, DE 19901. Talbert and John Pouliot. Purpose: For any of LP on file: SSDE, Townsend Bldg., Dover, Notice of Qualification of Investor Education Purpose: any lawful activity. Notice of Qualification of El-Ad 250 West LLC. lawful purpose. DE 19901. Name/addr. of each gen. ptr. avail. Collaborative, LLC, App. for Auth. filed Sec'y Authority filed with NY Dept. of State on at SSNY. Purpose: any lawful activities. of State (SSNY) 4/16/04. Office location: Notice of Formation of Olmstead 315 LLC. 6/15/06. Office location: NY County. LLC Name of LLC: Vegasoul Capital Management, NY County. LLC org. in DE 4/1/04. SSNY Arts. of Org. filed with Secy. of State of N.Y. formed in Delaware (DE) on 5/18/06. NY Secy. LLC. Authority filed with NY Dept. of State on Notice of Qualification of I-DONTICS, LLC. designated as agent of LLC upon whom (SSNY) on 7/18/07. Office location: NY of State designated as agent of LLC upon 6/27/07. Office location: NY County. LLC Authority filed with Secy. of State of N.Y. process against it may be served. SSNY County. SSNY designated as agent of LLC whom process against it may be served and formed in Delaware (DE) on 2/21/07. NY Secy. (SSNY) on 6/12/07. Office location: NY shall mail copy of process to 17 State St., upon whom process against it may be served. shall mail process to the principal business of State designated as agent of LLC upon County. Principal business location: 532 Park NY, NY 10004. DE office addr.: c/o CSC, SSNY shall mail process to principal business address of the LLC: c/o The El-Ad Group Ltd., whom process against it may be served and Ave., NY, NY 10065. LLC formed in Delaware 2711 Centerville Rd., Wilmington, DE 19808. location: c/o Olmstead Properties, Inc., 575 575 Madison Ave., 22nd Fl., NY, NY 10022, shall mail process to: c/o Business Filings Inc., (DE) on 4/25/07. SSNY designated as agent Cert. of Form. on file: SSDE, Townsend 8th Ave., Ste. 2400, NY, NY 10018. Purpose: registered agent upon whom process may be 187 Wolf Rd., Ste. 101, Albany, NY 12205, of LLC upon whom process against it may be Bldg., Dover, DE 19901. Purpose: any any lawful activity. served. DE address of LLC: The Corporation registered agent upon whom process may be served. SSNY shall mail process to: c/o lawful activities. Trust Co., 1209 Orange St., Wilmington, DE served. DE address of LLC: 108 W. 13th Corporation Service Company (CSC), 80 State Notice of Formation of MATTERMINDS 19801. Arts. of Org. filed with DE Secy. of St., Wilmington, DE 19801. Arts. of Org. filed St., Albany, NY 12207. DE address of LLC: c/o Name of Foreign LLC: Helmut Lang LLC (Fict. SEARCH LLC. Arts. of Org. filed with the State, 401 Federal St., Dover, DE 19901. with DE Secy. of State, 401 Federal St., Dover, CSC, 2711 Centerville Rd., Ste. 400, Name: Helmut Lang New York LLC). Appl. for Secy. of State of NY (SSNY) on 7/19/07. Purpose: any lawful activity. DE 19901. Purpose: any lawful act. Wilmington, DE 19808. Arts. of Org. filed with Auth. filed NY Dept. of State: 6/27/07. Jurisd. Office location: NY County. SSNY designated DE Secy. of State, PO Box 898, Dover, DE and date of org.: DE 3/13/06. County off. loc.: as agent of LLC upon whom process against Name of LLC: Regal Digital LLC. Arts. of Org. 19903. Purpose: any lawful activity. New York County. Princ. bus. loc.: 38 it may be served and shall mail process to: Notice of Qualification of Moi-Meme Attire, Gansevoort St., NY, NY 10014. Sec. of State filed with Secy. of State of NY (SSNY) on LLC Authority filed with Sec of State of The LLC, 173 East 74 th Street, 3A, New York, NOTICE OF FORMATION OF LIMITED designated as agent of foreign LLC upon 1/25/2006. Office location: NY County. SSNY NY (SSNY) on 6/7/07. Office location: NY NY 10021. Purpose: any lawful activity. designated as agent of LLC upon whom LIABILITY COMPANY. NAME: SUSHI-A- whom process may be served. The Sec. of County. LLC formed in Delaware (DE) on State shall mail copy of process to the LLC: process against it may be served and shall ROUND LLC. Articles of Organization were Notice of Formation of Michael Andrews 2/13/07. SSNY has been designated as 38 Gansevoort St., NY, NY 10014. Addr. of mail process to: c/o Andy Ranley, 128 W. 75th filed with the Secretary of State of New York LLC, Art. of Org. filed Sec'y of State (SSNY) agent upon process against it may be served. foreign LLC in DE is: c/o National Corporate St., Ste. 4B, NY, NY 10023, registered agent (SSNY) on 03/07/07. Office location: New 3/14/06. Office location: NY County. SSNY SSNY shall mail process to: C/O the LLC, Research, Ltd., 615 South DuPont Hwy., upon whom process may be served. Term: York County. SSNY has been designated as designated as agent of LLC upon whom Business Filings Inc, 108 W 13th St, Dover, DE 19901. Auth. office in DE where until 12/31/2046. Purpose: any lawful activity. agent of the LLC upon whom process against process against it may be served. SSNY Wilmington, DE 19801. Principal business Cert. of Form. filed: Sec. of State of DE, John it may be served. SSNY shall mail a copy of shall mail copy of process to Michael Brian address: 130 7th Ave., No 340, NY, NY 10011. G. Townsend Bldg., Dover, DE 19901. SUSAN TEEGER MEDICAL PRACTICE, PLLC process to the LLC, 17 Ann Street, New York, Mantegna, 90 Clinton St., Ste. 2H, NY, NY Purpose: any lawful purpose. Purpose: any lawful activity. Articles of Org. filed NY Sec. of State (SSNY) New York 10038. Purpose: For any lawful 10002. Purpose: any lawful activities. purpose. 5/16/07. Office in NY Co. SSNY desig. agent Notice of Qualification of GS LVB Advisors, Notice of Qualification of Embassy House of LLC upon whom process may be served. NOTICE OF QUALIFICATIONS OF West L.L.C. Authority filed with Secy. of State of N.Y. Notice of Qualification of WRA Investments Owner LLC. Authority filed with Secy. of State SSNY shall mail copy of process to c/o Monroe Partners LLC. Articles of Organization (SSNY) on 5/31/07. Office location: NY County. LLC, App. for Auth. filed Sec'y of State (SSNY) of N.Y. (SSNY) on 7/18/07. Office location: NY Newhouse & Shey LLP, 3 W. 35th St., 9th Fl., filed with the Secretary of State of New York LLC formed in Delaware (DE) on 2/28/07. 2/10/03. Office location: NY County. LLC org. County. LLC formed in Delaware (DE) on NY, NY 10001. Purpose: To practice medicine on May 18, 2007. N.Y. Office Location: New SSNY designated as agent of LLC upon whom in DE 1/27/03. SSNY designated as agent of 7/16/07. SSNY designated as agent of LLC York County. LLC formed in Delaware on April process against it may be served. SSNY shall LLC upon whom process against it may be upon whom process against it may be served. 17, 2002 SSNY has been designated as agent NOTICE OF FORMATION of iRolls Multimedia mail process to: 85 Broad St., NY, NY 10004. served. SSNY shall mail copy of process to SSNY shall mail process to principal office of LLC upon process against it may be LLC. Arts. of Org filed with Secy. of State of DE address of LLC: 1209 Orange St., Wilmington, 101 Park Ave., 48th Fl., NY, NY 10178. DE address of LLC: c/o National Registered served. The P.O. address to which the SSNY N.Y. (SSNY) on 6/14/06. Office location: NY DE 19801. Cert. of Form. filed with DE Secy. office addr.: c/o CSC, 2711 Centerville Rd., Agents, Inc., 875 Ave. of the Americas, shall mail a copy of any process against the County. SSNY designated as agent of LLC of State, P.O. Box 898, Dover, DE 19903. Wilmington, DE 19808. Cert. of Form. on file: Ste. 501, NY, NY 10001, the registered LLC served upon him/her is C/O the LLC: 175 upon whom process against it may be Purpose: any lawful activity. SSDE, Townsend Bldg., Dover, DE 19901. agent upon whom process may be served. W. Jackson Blvd. Suite 2200, Chicago IL served. SSNY shall mail process to: iRolls Purpose: any lawful activities. Arts. of Org. filed with DE Secy. of State, LLC, 58 W 56th St. #3, NY, NY 10019. Notice of Formation of 4SK - 24 St. Marks 401 Federal St., Ste. 4, Dover, DE 19901 60604. The Principal Business Address of the Purpose: any lawful activity. LLC. Arts. of Org. filed with NY Dept. of State Notice of Qualification of Emerging Sovereign Purpose: real estate investment. LLC is: 175 W. Jackson Blvd. Suite 2200, on 1/18/07, as amended. Office location: NY Fund LP, App. for Auth. filed Sec'y of State Chicago IL 60604. Dissolution date N/A. Name: BROADWAY 41 LLC Art. Of Org. Filed County. Secy. of State designated as agent of (SSNY) 2/4/02. Office location: NY County. LP Notice of Formation of Royal Field Management Purpose of LLC: Full service technology and Sec. Of State of NY 5/3/07. Off. Loc.: New LLC upon whom process against it may be org. in DE 1/30/02. SSNY designated as agent Company LLC. Arts. of Org. filed with Secy. business consulting firm. York. Co. SSNY designated as agent upon served and shall mail process to: Daihwan of LP upon whom process against it may be of State of N.Y. (SSNY) on 11/17/06. Office whom process against it may be served. Choi, 636 6th Ave., Ste. 370, NY, NY 10011, served. SSNY shall mail copy of process to location: NY County. SSNY designated as Notice of Qualification of Insight Venture SSNY to mail copy of process to The LLC principal business address of the LLC. 101 Park Ave., 48th Fl., NY, NY 10178. DE agent of LLC upon whom process against it Partners VI (Co-Investors), L.P. Authority filed C/CO Bernath & Rosenberg 1430 Broadway, Purpose: any lawful activity. office addr.: c/o CSC, 2711 Centerville Rd., may be served. SSNY shall mail process to: with Secy. of State of NY (SSNY) on 7/11/07. 13th Flr. , NY, NY 10018. Purpose: Any Wilmington, DE 19808. Cert. of LP on file: Royal Field, LLC, 164 W. 128 St., Ste. 1C, Office location: NY County. LP formed in lawful activity. Notice of Qualification of Stadia Capital SSDE, Townsend Bldg., Dover, DE 19901. NY, NY 10027. Purpose: any lawful activity. Delaware (DE) on 3/29/07. SSNY designated Partners (QP), L.P. Authority filed with Secy. Name/addr. of each gen. ptr. avail. at SSNY. as agent of LP upon whom process against it Notice of Qualification of D. E. Shaw CH-SP of State of NY (SSNY) on 5/1/01. Office Purpose: any lawful activities. Notice of Qualification of Seidman Private may be served. SSNY shall mail process to: Series 5-01 (C), L.L.C. Authority filed with NY location: NY County. LP formed in Delaware Advisors, LLC. Authority filed with Secy. of c/o National Registered Agents, Inc., 875 Dept. of State on 6/14/07. Office location: NY (DE) on 4/27/01. SSNY designated as agent Notice of Qualification of William Jennings State of N.Y. (SSNY) on 7/24/07. Office Avenue of the Americas., Ste. 501, NY, NY County. LLC formed in Delaware (DE) on of LP upon whom process against it may be Bryan Group, LLC. Authority filed with NY location: NY County. LLC formed in Delaware 10001, also registered agent. DE address of 12/19/06. NY Secy. of State designated as served and shall mail process to: 140 E. Dept. of State on 6/22/07. Office location: NY (DE) on 4/21/04. SSNY designated as agent LP: 1209 Orange St., Wilmington, DE 19801. agent of LLC upon whom process against it 45th St., 31st Fl., NY, NY 10017. DE address County. LLC formed in New Jersey (NJ) on of LLC upon whom process against it may Name/address of genl. ptr. available from may be served and shall mail process to: D. of the LP: c/o Corporation Service Co., 2711 7/31/06. NY Secy. of State designated as agent be served. SSNY shall mail process to: c/o SSNY. Cert. of LP filed with DE Secy. of State, E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., Centerville Rd., Ste. 400, Wilmington, DE of LLC upon whom process against it may be Corporation Service Co. (CSC), 80 State St., Federal & Duke of York Sts., Dover, DE 19901. Tower 45, NY, NY 10036, Attn: Bertrand C. 19808. Name/address of genl. ptr. available served and shall mail process to: 39 Lexington Albany, NY 12207. DE address of LLC: c/o CSC, Purpose: any lawful activities. Fry, General Counsel, registered agent upon from SSNY. Cert. of LP filed with DE Secy. Circle, Matawan, NJ 07747. NJ address of the 2711 Centerville Rd., Ste. 400, Wilmington, whom process may be served. DE address of of State, Federal & Duke of York Sts., Dover, LLC: 100 Canal Pointe Blvd., Ste. 108, DE 19808. Arts. of Org. filed with DE Secy. Notice of Formation of Life Long Fitness LLC: 1209 Orange St., Wilmington, DE 19801. DE 19901. Purpose: any lawful activity. Princeton, NJ 08540. Arts. of Org. filed with of State, Townsend Bldg., Dover, DE 19901. LLC. Arts. of Org. filed with Secy. of State Arts. of Org. filed with DE Secy. of State, 401 NJ State Treasurer, 225 W. State St., Trenton, Purpose: any lawful activity. of NY (SSNY) on 7/18/07. Office location: Federal St., Dover, DE 19901. Purpose: any Notice of Qualification of D. E. Shaw CH-SP NJ 08608. Purpose: any lawful activity. NY Co. SSNY designated as agent of LLC lawful activity. Series 4-01 (C), L.L.C. Authority filed with NY Notice of Qualification of Source Broadband upon whom process against it may be served. Dept. of State on 6/13/07. Office location: NY Notice of Qualification of Arnhold and S. Services, LLC. Authority filed with Secy. SSNY shall mail process to: The LLC, 56 Notice of Qualification of Hygrove Select LP, County. LLC formed in Delaware (DE) on Bleichroeder Advisers Inc. Diversified of State of N.Y. (SSNY) on 7/2/07. Office Ludlow St., 2nd Fl, NY, NY 10002. Purpose: App. for Auth. filed Sec'y of State (SSNY) 9/20/06. NY Secy. of State designated as International Equity Fund LLC, App. for Auth. location: NY County. LLC formed in Delaware any lawful activities. 1/22/04. Office location: NY County. LP org. agent of LLC upon whom process against it filed Sec'y of State (SSNY) 5/17/07. Office (DE) on 5/15/07. SSNY designated as agent in DE 1/21/04. SSNY designated as agent of may be served and shall mail process to: D. location: NY County. LLC org. in DE 8/6/02. of LLC upon whom process against it may Notice of Formation of Flamengo Partners LP upon whom process against it may be E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., SSNY designated as agent of LLC upon be served. SSNY shall mail process to: c/o LLC. Arts. Of Org. filed with Secy. of State of served. SSNY shall mail copy of process to Tower 45, NY, NY 10036, Attn: Bertrand C. whom process against it may be served. CT Corporation System, 111 8th Ave., NY, NY N.Y. (SSNY) on 07/20/2007. Office location: 399 Park Ave., 4th Fl., NY, NY 10022. DE Fry, General Counsel, registered agent upon SSNY shall mail copy of process to Attn: 10011, registered agent upon whom process New York County. SSNY designated as agent office addr.: c/o CSC, 2711 Centerville Rd., whom process may be served. DE address of Mark Goldstein, 1345 Ave of the Americas, may be served. DE address of LLC: 1209 of LLC upon whom process against it may be Wilmington, DE 19808. Cert. of LP on file: LLC: 1209 Orange St., Wilmington, DE 19801. NY, NY 10105. DE office addr.: c/o CTC, 1209 Orange St., Wilmington, DE 19801. Arts. of served. SSNY shall mail process to: c/o Gallet SSDE, Townsend Bldg., Dover, DE 19901. Arts. of Org. filed with DE Secy. of State, 401 Orange St., Wilmington, DE 19801. Cert. of Org. filed with DE Secy. of State, 401 Federal Dreyer & Berkey, LLP, 845 Third Avenue, 8th Name/addr. of each gen. ptr. avail. at SSNY. Federal St., Dover, DE 19901. Purpose: any Form. on file: SSDE, Townsend Bldg., Dover, St., Ste. 4, Dover, DE 19901. Purpose: all Floor, New York, NY 10022-6601- Att: David Purpose: any lawful activities. lawful activity. DE 19901. Purpose: any lawful activities. lawful purposes. L. Berkey, Esq. Purpose: any lawful activity.

August 27, 2007 | Crain’s New York Business | 25 CNYB 08-27-07 A 26 8/23/2007 7:09 PM Page 1

NEIGHBORHOOD JOURNAL Queens shopping center going green

chapter of the U.S. Green Building “These guys are extremely tuned- But certain local forces are com- Eco-friendly pet Council, which certifies green in to this type of thing,” says Atlas mitted to the center’s success. shop to open at Atlas buildings. Park General Manager Jim Boyle.“A The 1,000-square-foot shop will big trend in retail now is social re- Bus stops here Park; strategic help feature bamboo floors, hand-waxed sponsibility. What’s nice is that in may, Damon Hemmerdinger, cabinets and energy-efficient light- they’re locally based, and it’s not a Atlas Park’s director of develop- year and a half after ing. Meir Design, based in Long Is- gimmick—this is what they believe ment, persuaded the Metropolitan opening, The Shops at land City, Queens, used only sus- in.” Mr. Boyle favors more green re- Transportation Authority to reroute Atlas Park in Glendale, tainable materials at the site. Store tailers in the shopping center. the Q54 bus in Glendale to go by the Queens,is turning a lit- employees will wear shirts made of a Since reaching nearly full occu- center. The new route began last FIT FOR QUEENS: Atlas Park is credited with tle green. The white- fabric derived from corn. pancy in April, Atlas Park has had a month,and a bus now stops every 12 bringing upscale retail to the borough. washed, open-air shopping cen- 20% average monthly increase in the minutes during the day. A Holistic approach ter—which brought high-end retail number of cars in its parking lots. Mr. Hemmerdinger, whose fa- to central Queens—will welcome “we’ll also have a full line of ho- Critics have complained that ther, Dale, has been tapped to run ty Board 5 voiced their objections to the borough’s first eco-friendly store listic food and spa products for most of the stores are too pricey for the MTA,has also launched a cam- yet another bus-path change at the next month. pets,” says co-owner Joan Stack, a the neighborhood. And until last paign to change the path of the Q23 board’s public meeting last week, Pet boutique Crazy for Animals Middle Village resident who owns month, Atlas Park was accessible to connect busy Austin Street in citing increased traffic in their rela- will be the first retail space of its kind several dogs and runs an informal only by car—restricting potential Forest Hills with Atlas Park. tively quiet neighborhood. in New York, according to the city’s foster home for pets. customers and employees. Residents of Queens Communi- —hilary potkewitz

PUBLIC & LEGAL NOTICES

Notice of Formation of Henpecked LLC. Arts. Notice of Formation of Ascend TC, LLC. Arts. THE WEINBERG AREYS COVE, LLC, a Notice of Qualification of KFGF Management, Notice of Qualification of Summit Rock of Org. filed with Secy. of State of N.Y. (SSNY) of Org. filed with Secy. of State of N.Y. (SSNY) domestic Limited Liability Company (LLC) LLC. Authority filed with Secy. of State of Diversified Strategies Portfolio, L.P. Authority on 7/24/07. Office location: NY County. SSNY on 6/25/07. Office location: NY County. SSNY filed with the Sec of State of NY (SSNY) on N.Y. (SSNY) on 8/1/07. Office location: NY filed with Secy. of State of N.Y. (SSNY) on designated as agent of LLC upon whom process designated as agent of LLC upon whom 6/22/07. Office Location: NEW YORK County. County. Principal business location: 787 7/30/07. Office location: NY County. LP against it may be served. SSNY shall mail process against it may be served. SSNY shall SSNY is designated as agent upon whom Seventh Ave., 6th Fl., NY, NY 10019. LLC formed in Delaware (DE) on 6/22/07. SSNY process to principal business location: 99 mail process to: Corporation Service process against the LLC may be served. SSNY formed in Delaware (DE) on 6/27/07. SSNY designated as agent of LP upon whom Suffolk St., NY, NY 10002. Purpose: any Company, 80 State St., Albany, NY 12207. shall mail a copy of any process against the designated as agent of LLC upon whom process against it may be served. SSNY shall lawful activity. Purpose: any lawful activity. LLC served upon him/her to THE LLC, 514 process against it may be served. SSNY shall mail process to: c/o Corporation Service EAST 89TH STREET, NEW YORK, NY 10128. mail process to: c/o Corporation Service Company (CSC), 80 State St., Albany, NY Notice of Qualification of Chickasaw Capital Notice of Qualification of Blackstone Real General purposes. Company (CSC), 80 State St., Albany, NY 12207, registered agent upon whom process Management LLC, App. for Auth. filed Sec'y of Estate Acquisitions III L.L.C. Authority filed 12207. DE address of LLC: c/o CSC, 2711 may be served. DE address of LP: CSC, 2711 State (SSNY) 4/3/07. Office location: NY County. with NY Dept. of State on 6/1/07. Office Notice of Qualification of First Eagle Value In Centerville Road, Ste. 400, Wilmington, DE Centerville Road, Ste. 400, Wilmington, DE LLC org. in DE 5/29/03. SSNY designated as location: NY County. Principal business Biotechnology Fund (QP), LP, App. for Auth. 19808. Arts. of Org. filed with DE Secy. of 19808. Name/address of each genl. ptr. agent of LLC upon whom process against it address: 345 Park Ave., NY, NY 10154. LLC filed Sec'y of State (SSNY) 7/7/05. Office State, 401 Federal St., Ste. 4, Dover, DE available from SSNY. Cert. of LP filed with may be served. SSNY shall mail copy of formed in Delaware (DE) on 2/19/99. NY location: NY County. LP org. in DE 7/5/05. 19901. Purpose: any lawful activity. DE Secy. of State, 401 Federal St., Ste. 4, process to 277 West End Ave., NY, NY Secy. of State designated as agent of LLC SSNY designated as agent of LP upon whom Dover, DE 19901. Purpose: any lawful activity. 10023. DE office addr.: c/o CTC, 1209 upon whom process against it may be served process against it may be served. SSNY shall Notice of Qualification of D. E. Shaw CH-SP Orange St., Wilmington, DE 19801. Cert. of and shall mail process to: c/o CT Corporation mail copy of process to Attn: Daniel Declue, Series 2-06 (C), L.L.C. Authority filed with NY Notice of Qualification of Shaka Capital Form. on file: SSDE, Townsend Bldg., Dover, System, 111 8th Ave., NY, NY 10011, 1345 Ave of the Americas, NY, NY 10105. DE Dept. of State on 6/14/07. Office location: NY Holdings, LLC. Authority filed with NY Dept. DE 19901. Purpose: any lawful activities. registered agent upon whom process may office addr.: c/o CSC, 2711 Centerville Rd., County. LLC formed in Delaware (DE) on of State on 8/13/07. Office location: NY be served. DE address of LLC: c/o The Wilmington, DE 19808. Cert. of LP on file: 5/24/06. NY Secy. of State designated as County. LLC formed in Delaware (DE) on SSDE, Townsend Bldg., Dover, DE 19901. 8/7/07. NY Secy. of State designated as agent QUATTRO CONSTRUCTION MANAGEMENT, Corporation Trust Co., 1209 Orange St., agent of LLC upon whom process against it Name/addr. of each gen. ptr. avail. at SSNY. of LLC upon whom process against it may be LLC, a domestic Limited Liability Company Wilmington, DE 19801. Arts. of Org. filed with may be served and shall mail process to: D. Purpose: any lawful activities. served and shall mail process to the principal (LLC). Articles of Organization filed with DE Secy. of State, 401 Federal St., Dover, DE E. Shaw & Co., L.P., 120 W. 45th St., 39th Fl., business address of the LLC: 27 Century Secretary of State on 5/29/07. NY Office 19901. Purpose: any lawful activity. Tower 45, NY, NY 10036, Attn: Bertrand C. NOTICE OF FORMATION of Queen of Harlem Ridge Rd., Purchase, NY 10577, Attn: Arif location: NEW YORK County. Secretary of Fry, General Counsel, registered agent upon LLC. Arts. of Org. filed with Secy. of State of Imam. DE address of LLC: c/o Corporation State is designated as agent upon whom Notice of Qualification of Rolling Cash Equity whom process may be served. DE address of NY (SSNY) on 10/05/06. Office location: Service Co., 2711 Centerville Rd., Ste. 400, process against the LLC may be served. Group LLC. Authority filed with Secy. of State LLC: 1209 Orange St., Wilmington, DE 19801. New York. SSNY designated as agent of LLC Wilmington, DE 19808. Arts. of Form. filed Secretary of State shall mail a copy of any of N.Y. (SSNY) on 7/27/07. Office location: Arts. of Org. filed with DE Secy. of State, 401 upon whom process against it may be with DE Secy. of State, 401 Federal St., Ste. 4, process against the LLC served upon NY County. LLC formed in Delaware (DE) on Federal St., Dover, DE 19901. Purpose: any served. SSNY shall mail process to: Cinotti Dover, DE 19901. Purpose: any lawful activity. him/her to DAVID LENEFSKY, ESQ., 7/26/07. SSNY designated as agent of LLC lawful activity. upon whom process against it may be served. & Buck, 50 Broad Street, Ste. 1911, NY, NY 1 COLUMBUS PLACE, S48C, NEW YORK, 10004. Principal business location: 287 NY 10019. General purposes. SSNY shall mail process to principal business Notice of Qualification of PVE Associates, LLC. Notice of Qualification of Blackstone location: Sam Liebman, 1430 Broadway, 14th Edgecombe Ave., Ste. 1C, NY, NY 10031. Authority filed with Secy. of State of N.Y. Mezzanine Capital Commitment Partners II Fl., NY, NY 10018. DE address of LLC: Purpose: Any lawful act. (SSNY) on 7/11/07. Office location: NY L.P. Authority filed with NY Dept. of State NOTICE OF FORMATION OF LIMITED c/o Corporation Service Company, 2711 County. Principal business location: 401 on 6/1/07. Office location: NY County. LIABILITY COMPANY. NAME: PINE 1809, Centerville Road, Ste. 400, Wilmington, DE 1 CONVENT REALTY, LLC, a domestic Broadway, 24th Fl., NY, NY 10013. LLC Principal business address: 345 Park Ave., LLC. Articles of Organization were filed 19808. Arts. of Org. filed with DE Secy. of Limited Liability Company (LLC) filed with the formed in Delaware (DE) on 7/3/07. SSNY NY, NY 10154. LP formed in Delaware (DE) with the Secretary of State of New York State, 401 Federal St., Ste. 4, Dover, DE Sec of State of NY (SSNY) on 6/28/07. NY designated as agent of LLC upon whom on 5/27/05. NY Secy. of State designated as (SSNY) on 02/17/06. Office location: New 19901. Purpose: any lawful activity. office Location: NEW YORK County. SSNY is process against it may be served. SSNY shall agent of LP upon whom process against it York County. SSNY has been designated designated as agent upon whom process mail process to: c/o Corporation Service may be served and shall mail process to: as agent of the LLC upon whom process against the LLC may be served. SSNY shall Company, 80 State St., Albany, NY 12207. DE c/o CT Corporation System, 111 8th Ave., against it may be served. SSNY shall mail a Notice of Qualification of Centerbridge Capital mail a copy of any process against the LLC Partners PNG-D, L.P. Authority filed with NY address of LLC: 2711 Centerville Rd., Ste. NY, NY 10011, registered agent upon whom copy of process to the LLC, c/o VL Owners, served upon him/her to MR. MICHAEL ARYEH, 400, Wilmington, DE 19808. Arts. of Org. filed process may be served. DE address of LP: Inc., ATTN: Sergei Perotine, Manager, 8 Dept. of State on 8/8/07. Office location: NY 619 WEST 54TH STREET, NEW YORK, NY County. Principal business address: 375 Park with DE Secy. of State, 401 Federal St., Ste. 4, c/o The Corporation Trust Co., 1209 Orange Yellowstone Drive, Old Bridge, New Jersey 10019. General purposes. Dover, DE 19901. Purpose: any lawful activity. St., Wilmington, DE 19801. Name/address 08857. Purpose: For any lawful purpose. Ave., 12th Fl., NY, NY 10152. LP formed in Delaware (DE) on 7/27/07. NY Secy. of State of genl. ptr. available from NY Secy. of Name of LLC: ALEXANDRIA LIND LLC. Arts. State. Cert. of LP filed with DE Secy. of designated as agent of LP upon whom of Org. filed NY Dept. of State 6/13/07. CODEBOX LLC, a domestic Limited Liability Notice of Formation of PH II Realty Associates State, 401 Federal St., Dover, DE 19901. process against it may be served and shall County off. loc.: New York County. Principal Company (LLC) filed with the Sec of State of LLC, Art. of Org. filed Sec'y of State (SSNY) Purpose: any lawful activity. mail process to: c/o CT Corporation System, bus. loc.: 19 East 95th Street, 3F, New York, NY (SSNY) on 1/12/07. NY office Location: 1/11/01. Office location: NY County. SSNY 111 8th Ave., NY, NY 10011. DE address of NY 10128. Sec. of State designated as agent NEW YORK County. SSNY is designated as designated as agent of LLC upon whom Notice of Formation of 554 East 82 LLC. Arts. LP: c/o The Corporation Trust Co., 1209 of LLC upon whom process against it may be agent upon whom process against the LLC process against it may be served. SSNY shall of Org. filed with Secy. of State of N.Y. (SSNY) Orange St., Wilmington, DE 19801. served. Sec. of State shall mail a copy of may be served. SSNY shall mail a copy of any mail copy of process to Kenneth J. Rosen, on 7/10/07. Office location: NY County. SSNY Name/address of genl. ptr. available from NY process to 19 East 95th Street, 3F, New York, process against the LLC served upon him/her Esq., 67 Wall St., 19th Fl., NY, NY 10005. designated as agent of LLC upon whom Secy. of State. Cert. of LP filed with DE Secy. NY 10128. Purpose: any lawful activity. to C/O THE LLC, 30 VESEY STREET, 11TH FLR., Purpose: any lawful activities. of State, Townsend Bldg., Dover, DE 19901. NEW YORK, NY 10007. General purposes. process against it may be served. SSNY shall Purpose: any lawful activity. Notice of Formation of 159 West 24th Partners mail process to principal business location: Notice of formation of STEPHEN R. RAMSAY LLC. Arts. of Org. filed with Secy. of State of Notice of Formation 441 East 57th Street LLC c/o The LLC, 151 E. 81st St., Ste. 1E, NY, NY DMD, P.L.L.C. a NYS LLC Formation filed Notice of Formation of Pinky Wolman Designs N.Y. (SSNY) on 5/29/07. Office location: NY art. of org. filed Secy. of State NY (SSNY) 10028. Purpose: any lawful activity. with SSNY on 03/21/07. Off. Loc.: New LLC, Art. of Org. filed Sec'y of State (SSNY) County. SSNY designated as agent of LLC 10/31/05. Off. loc. in NY Co. SSNY designated York Co. SSNY designated as agt. of LLC, 7/25/07. Office location: NY County. SSNY upon whom process against it may be served. as agent of LLC upon whom process may be To place your classified upon whom process may be served. SSNY designated as agent of LLC upon whom SSNY shall mail process to: c/o 159 West served. SSNY shall mail copy of process to: shall mail copy of process to: The LLC, 257 process against it may be served. SSNY shall 24th Street Management LLC, Attn: Eric S. Flank Management LLC, Attn: Jonathan Kully, ad call John Gallagher Lexington Avenue, New York, NY 10016. mail copy of process to 15 Park Ave., #11A, Gray, 900 Broadway, Ste. 402, NY, NY 10003. 548 West 28th Street, NY, NY 10022. Purpose: @ 212-210-0189 Purpose: Any Lawful purposes. NY, NY 10016. Purpose: any lawful activities. Purpose: all lawful purposes. Any lawful purpose.

26 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 27 8/23/2007 8:18 PM Page 1

BUSINESS

TABLE TALK Regime change works at L’Impero PAGE 31 karjean levinekarjean

GOTHAM GIGS Pickup game KRISTIN OGDON, 29, is about to work her 15th U.S. Open as a ball person. She gets about $8 an hour and uses vacation time from her marketing job at Time Inc. to participate in the annual tournament, held in Flushing Meadows, Queens. PATIENCE Ms. Ogdon contacted the U.S. Open when she was 10 but was too young. She tried out when she turned 15 and made the 250-person group.The United States Tennis Association chose her as a volunteer for the Atlanta Olympics in 1996. DREAM TEAM She worked during the epic five-set match between Andre Agassi and James Blake in the 2005 quarterfinals—a “ball person’s dream.” Ms. Ogdon and her five colleagues executed perfectly throughout the match, which Mr. Agassi won. “I had tears in my eyes,” she says. “You just knew you were witnessing history.” STAYING AGILE Ms. Ogdon keeps in shape by running— she’s training for her second New York City Marathon— and fully intends to work the 2008 U.S. Open. —adrianne pasquarelli

EXPERT OPINIONS WHAT ARE SOME GOOD SCHOOL-BAG ITEMS? backpacks are a big part

of going back to school. But neff david most packs are too cumber- some for a preschooler. Littlepackrats.com makes various animal backpacks ($40) for tots. For older kids, Janemarvel.com makes a Weight watching at work striped book bag ($46) with PVC coating—backpacks get pretty grotty, Employees use buddy system to lighten up THE STATS so you want a wipeable BY ELISABETH BUTLER CORDOVA Last year, more fabric. than 20% of Mysigg.com ourmet lunches on the boss’s dime sound like a great job perk, but the people living in sells metal rich meals put 20 extra pounds on Ron Longe’s physique in 12 months. water bottles New York state ($19) that fit in “We’re always going out with editors and authors to nice restaurants,” were obese, up most backpacks. Radica’s says Mr. Longe, director of cookbook publicity at Workman Publishing from less than 20Q handheld game ($13 on Co. “I’m constantly surrounded by food.” 10% in 1990, Amazon.com) is fun for kids To get back to size, Mr. Longe turned to the next cubicle, where he while they wait for the bus. according to the —katharine whittemore found two co-workers on a diet program. He joined them and has shed Centers for Features editor 11 pounds in the past five weeks. Disease Control. Wondertime “When you’re having a weak moment, See WEIGHT on Page 28 G August 27, 2007 | Crain’s New York Business | 27 CNYB 08-27-07 A 28 8/23/2007 8:20 PM Page 1

BUSINESS LIVES Weight watching at the office PERSONAL EXPERIENCE WRITING THIS ARTICLE was something of a cathartic exercise for me. I joined a Weight Watchers at Work Continued from Page 27 tivator,” says Roseanne Cumella, a weight. A group of those employees group at Crain’s last year. At the first meeting, I they’re there to help,” Mr. Longe senior vice president of merchan- joined Jenny Craig earlier this year. knew just three of the 20 people at the table. But says. dising at fashion consulting firm “We sit at lunch together,and it’s after a few weeks, they all knew exactly how I Leaning on co-workers to fight Doneger Group. She participated nice because the person in front of tended to blow my diet. fat is catching on as New Yorkers, in her office’s Weight Watchers at you isn’t eating a hamburger,” says It was like being in a secret society. I would be standing in front of the like other Americans, get heavier. Work program several years ago. Mayra Molina, a client services su- snack machine, debating between the Twix candy bar and the bag of pretzels, Employees are banding together to Her group lost more than 100 pervisor at Bergdorf. She joined the when a member of my group would wander by. A raised eyebrow pushed me lose weight—sometimes at the urg- program after watching two co- to pick the pretzels more than once. ing of bosses who are worried about workers get skinny with Jenny. Ms. Our group broke up after several of our members (not me) lost so much health insurance costs. They’re en- Insurers are Molina has lost 27 pounds since weight that they didn’t have to pay for the program anymore. To keep up rolling in programs like Weight February. my own fight, I recently enrolled in an online program. Watchers or Jenny Craig, starting starting to pay I still get an occasional e-mail from a Weight Watcher friend that goes contests à la the reality show The Employers support dieting something like this: “Help! There are Milano cookies by my desk. Take them Biggest Loser or just sharing a bag of for weight-loss with obesity driving up health away from me!” carrot sticks instead of a box of care costs, many employers are en- I gladly rush to the rescue. —ELISABETH BUTLER CORDOVA black-and-white cookies as they try programs couraging officewide dieting, and to slim down. Though some em- insurance companies are starting to ployees find the trend too intrusive, reimburse employees for part of others welcome on-the-job dieting their weight-loss programs. ployees who voluntarily sign up Association, the whole office as a weight-control tool. Lloyd Princeton, founder of ar- promise to abstain from drinking seemed to get into fighting fat when Workers at J.P. Morgan, People pounds collectively during the pro- chitecture and interior design firm for the entire month. Those who employees organized a contest magazine and Harlem’s North gram. Design Management Co., is en- meet their goal to stay dry will earn called Equity’s Biggest Loser, based General Hospital are just a few Even luxury department store couraging his employees to get thin a yearlong membership to Equinox, on the reality show.The program al- groups battling the bulge together. Bergdorf Goodman—the epicenter by forgoing alcohol for a month. courtesy of Mr. Princeton. lowed participants to use any diet- “The competitive nature of the of the stick-thin mentality—has its He’s launching “Sober October,” a “Alcohol is just empty calories,” ing method,from South Beach Diet business environment is a good mo- share of employees watching their program of his own design. Em- he says. “Whenever I cut it out, I to NutriSystem, and contestants lose weight.” would weigh in each week.John Fa- Mr. Princeton, who will also pay sulo, the firm’s national director of to have a nutritionist visit with each membership, lost 15 pounds during participating employee before Oct. the three-month program. But to- 1, aims to shed 10 pounds during ward the end, employees lost inter- the program. est in the game. Sometimes dieting with buddies “It kind of just petered out,” Mr. can help workers solve bigger life is- Fasulo says. He put the weight back sues. Liz Claiborne Inc. hosts a reg- on during the following months and ular Weight Watchers at Work pro- had to enroll in an online program gram, where the weekly weigh-ins on his own to drop it again. can turn into therapy sessions. Other employees are turned off “Our meetings are pretty in- by touchy-feely sessions with co- tense,” says Pamela Schafer, an ex- workers, fearing an admission of a ecutive administrator at the fashion Big Mac addiction might make house. A new mother, Ms. Schafer them seem weak. attends the meetings to get advice To prevent the programs from on handling the stress of coping with becoming too personal, office coor- an infant as well as weight loss. “It’s dinators often limit the length of been a real support group,” she says. the meetings and try to keep the conversation focused on specific Loss of interest is possible weight-loss tips. Doneger’s Ms. although co-workers have Cumella says her office was too proved to be good at motivating small to let the meetings go on too each other, there are some chal- long or get too mushy. “You go, you lenges to dieting at work.Some em- get weighed, you say a few things, ployees feel let down when the ef- and you get back to work,” she says. fort ends. At labor union Actors’ Equity COMMENTS? [email protected]

REAL ESTATE AND MORE ON CRAIN’S WEB SITE alerts that provide news about a particular real estate brokerage or firm. Resources Get easy links to government agencies and industry groups involved in New York real Tuesday e-mail Sign up today for estate. Crain’s Real Estate Insider, a Back issues weekly e-mail newsletter featuring Use the the latest deals, events and archives to personnel moves in one of the find Crain’s hottest industries. To register, go to stories in any www.NewYorkBusiness.com/ previous signup. edition of the Breaking news E-mail alerts keep paper. you up-to-date on developments in Subscribe the local real estate business as Use the “Subscribe now” button they happen. to get the weekly print edition of Company alerts Visitors to Crain’s Crain’s and digital subscriptions to Web site can sign up for e-mail the newspaper.

28 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 29 8/23/2007 6:26 PM Page 1

BUSINESS LIVES CORPORATE LADDER Dick Lynch One geek’s success story Verizon’s new tech are used efficiently across the com- pany’s three businesses: Verizon PERSONNEL FILE chief started young, Wireless,Verizon Telecom and Ver- izon Business. COMPANY Verizon Communica- saw wireless’s future tions Inc. National endeavor when others didn’t TITLE Chief technology officer tops on mr. lynch’s to-do list is and executive vice president overseeing the replacement of cop- BY AMANDA FUNG per wiring—some of which is up to AGE 58 100 years old—with state-of-the- RÉSUMÉ Chief technology officer, rowing up, Dick art fiber-optic cable. Verizon will Verizon Wireless and predecessor Lynch was the quin- spend more than $20 billion on the firms tessential geek: He nationwide build-out, which faces managed the audiovi- physical and regulatory hurdles. FAVORITE HOBBY Hand-washing sual equipment for his Mr. Lynch acknowledges that it his collection of black Gjunior-high teachers and built his won’t be easy to persuade customers Mercedes-Benzes on weekends high school’s radio station. to switch from their cable providers INDISPENSABLE GADGET Bose He went for his bachelor’s and to Verizon for phone, high-speed headphones master’s degrees in electrical engi- Internet and TV services,but his ex- neering at Lowell Technological perience with emerging technology Institute. helps immeasurably. on various planning, operations and “I remember giving myself “The business has changed,” he engineering jobs at other Verizon shocks with electrical cords as I says.“I like to blame myself for some predecessors. wired things in my basement,” Mr. of those changes.” In 1990, Mr. Lynch left tradi-

Lynch says.“I started as a technolo- Another priority is leading the tional telecommunications to be- buck ennis gist long before I even knew what I effort to provide customers with so- come the head of technology at Bell was doing.” called converged service, which in- Atlantic Mobile, now known as would become what they are today. carrier, with 61.2 million sub- Last month,Verizon Communi- volves using a single device as a cell Verizon Wireless. But he knew. He sees the future be- scribers, and is touted as the nation’s cations Inc.plugged Mr.Lynch into phone, TV programmer and more. fore other people,” Mr. Haferi says. most reliable network. its top tech post. He had been chief Mr. Lynch is accustomed to Visionary Mr. Lynch, a native of Ashland, The executive now sees that technology officer of cell phone building networks from the ground “everyone thought he was crazy,” Mass., helped assemble Verizon’s same kind of opportunity with subsidiary Verizon Wireless for 17 up. He began his career at New says Bob Haferi Sr., former execu- mobile phone network and watched fiber-optic cable. “I want to strong- years. England Telephone in 1972, work- tive director of network operations it grow from a few hundred cell sites ly influence how we get to the fu- As the tech chief, Mr. Lynch ing with long-distance switches and support, who worked for Mr. Lynch to more than 30,000 today. ture,” Mr. Lynch says. must ensure that all systems,includ- microwave technology. in a previous role at Verizon. On his watch, Verizon Wireless ing the newest fiber-optic network, He climbed up the ranks, taking “No one thought cell phones became the second-largest wireless COMMENTS? [email protected]

August 27, 2007 | Crain’s New York Business | 29 CNYB 08-27-07 A 30 8/23/2007 6:28 PM Page 1

BUSINESS LIVES

EXECUTIVE MOVES

ACCOUNTING & CONSULTING been president and chief executive of the Wilson Sonsini Goodrich & Rosati: Accretive Solutions: Ana Dropps, 46, was Henry H. Kessler Foundation. Matthew E. Langer, 48, joined as HOT JOBS named executive vice president and chief Visiting Nurse Regional Health Care partner. He had been a partner at financial officer. She had been chief System: Mary Jane Gigatti, 54, was WilmerHale. financial officer at Bombardier Capital. named chief financial officer. She had WANTED: PRESIDENT AlixPartners: Doug Barnett, 47, was been chief financial officer at the Parker MEDIA & ENTERTAINMENT appointed managing director and chief Jewish Institute for Health Care and Concert.TV: Scott Reich, 33, joined as vice ORGANIZATION Municipal Art Society of New York financial officer. He had been senior vice Rehabilitation. president of programming. He had been JOB DESCRIPTION president and chief financial officer at a vice president at VH1. Manage overall operations UGS PLM Software. HOSPITALITY & TOURISM Hachette Book Group USA: Beth Ford, 43, MOST IMPORTANT TASKS Building on reputation as an effective Deloitte Financial Advisory Services: Soup Kitchen International Inc.: Bill joined as chief operating officer and advocate for urban design and planning; fundraising Thomas Kaylor, 45, was named principal. McCreery, 44, joined as president. He executive vice president. She had been a CREDENTIALS NEEDED He had been senior vice president and had been a vice president at Coinstar senior vice president at Scholastic Inc. Minimum 10 years’ experience working with principal at CRT Capital Group. Inc. Medialink Worldwide Inc.: Donald M. complex advocacy issues ExlService Holdings Inc.: Krishna Nacha, Michels, 33, was appointed chief SALARY $150,000 to $200,000 a year, based on experience LAW 37, joined as vice president and chief technology officer. He had been a vice RECRUITER sales and marketing officer. He had been Bracewell & Giuliani: Elizabeth president at The FeedRoom Inc. Jack Lusk of Harris Rand Lusk a vice president and regional manager, McGinley, 38, joined as partner. She had MSG Media: Chris Monteleone, 31, was DOWNSIDE Current president has been with the society for almost sales, at iGate Global Solutions. been counsel at Skadden Arps Slate appointed vice president of distribution four decades and will be a tough act to follow Meagher & Flom. marketing, a new position. He had been UPSIDE ADVERTISING & COMMUNICATIONS Edwards Angell Palmer & Dodge: Todd J. director of digital development and sales Chance to lead an established, influential nonprofit Allison & Partners: Matt Harris,35, Peterson, 48, joined as partner. He had at Rainbow Media. Kent Barwick will step down as president of the organization early joined as senior vice president of media been a partner at Nixon Peabody. New Jersey Nets: Lewis Gibbons, 32, was next year and will assume the role of president emeritus. He led relations and brand integration, a new Alphonso E.Tindall Jr., 52, joined as promoted to director of operations from successful initiatives to save Grand Central Terminal and build position. He was formerly a vice partner. He had been a managing operations manager. Moynihan Station. The society, which has been promoting a more president at Ketchum. shareholder at Greenberg Traurig Laura Castronovo, 29, was promoted to livable city since 1893, has an operating budget of about $4 million. DZP Marketing Communications: Jennifer Hoffman Lipoff Rosen & Quentel. director of research and strategic —AMANDA FUNG Deppe, 25, joined as art director. She had Latham & Watkins: M. Adel Aslani-Far, marketing from manager of research and been a freelance graphic designer. 38, joined as partner. He had been a direct marketing. Screenvision: Michael Chico, 49, joined as partner at Dewey Ballantine. Shauna Sikorski, 31, was promoted to executive vice president of sales. He had Taurie M. Zeitzer, 37, joined as partner. director of marketing from assistant been executive vice president of She was formerly a partner at director of marketing. advertising sales at Madison Square O’Melveny & Myers. Rodale Inc.: David Kang, 41, was named Massey Knakal Realty Services: Sean He had been a senior manager at the Garden Inc. McDermott Will & Emery: Jay E. Rivlin, senior vice president and general Barnes, 24, was promoted to director of Cayman Islands Department of 42, joined as partner. He was formerly manager, online subscription services. sales from associate. Tourism. FINANCE & INSURANCE an associate at Sullivan & Cromwell. He had been a senior vice president and Olnick Organization Inc.: Darryl P. Hogg Robinson Group: Lee DeVet,45, Electronic Specialist: Joshua S. Levine, Pillsbury Winthrop Shaw Pittman: Wayne chief operating officer, entertainment, at Rankin, 41, was promoted to vice joined as vice president, consulting, 53, was appointed chief executive. He Matus, 57, joined as partner. He had Major League Baseball Advanced president, residential, from general North America. He had been a manager had been managing director at Kita been a partner at Mayer Brown Rowe & Media. manager of Lenox Terrace. at iJet Travel Intelligence Inc. Capital Management. Maw. Van Wagner Sports Group: John Lappas, Waterman Interests: Eric Herlands,44, —adrianne pasquarelli Evercore Partners Inc.: Paul Pensa, 49, Ropes & Gray: Lee E. Allison, 37, joined 47, joined as vice president of integrated was appointed director of investments. and sarah studley joined as principal accounting officer as partner. He had been a partner at sponsorship sales. He had been a vice He had been vice president of and controller. He had been managing Kirkland & Ellis. president at Intersport. investments at Reckson Associates EXECUTIVE PROMOTIONS director and deputy controller at the Sidley Austin: Isaac S. Greaney, 33, was Realty Corp. Bank of New York Mellon. promoted to partner from associate. REAL ESTATE Crain’s lists the promotion and hiring of New York MRU Holdings Inc.: Jonathan Coblentz, Joseph Kelly, 35, was promoted to partner Housing Partnership Development Corp.: SERVICES area senior executives on a space-available basis, 36, joined as treasurer and head of from associate. Melissa Schiltz, 25, joined as director of Adam Personnel Inc.: Catherine Palmiere, with priority given to positions in New York City. capital markets. He was formerly vice Dennis M. Manfredi, 33, was promoted marketing and development. She had 48, was promoted to president from vice The fastest way to get an announcement into president at Fortress Investment Group. to partner from associate. been communications associate at the president. Crain’s is to submit details online by filling out the Aryeh H. Zarchan, 33, was promoted to American Federation of Arts. CTPartners: Dorothy Waldt, 47, joined as form at www.NewYorkBusiness.com/submit. HEALTH CARE partner from associate. Jones Lang LaSalle: Raymond partner. She had been a principal at Kirk The Executive Moves column is also available New York Eye and Ear Infirmary: D. Steptoe & Johnson: David H. Spencer, 52, Quartararo, 42, was promoted to Palmer & Associates. online. McWilliams Kessler, 54, joined as joined as partner. He was formerly a international director from Northeast Furnished Quarters: Don Foste, 36, joined Crain’s cannot confirm receipt of listings or say president and chief executive. He had partner at Baker & McKenzie. regional manager. as director of corporate sales, New York. when they will appear.

THE WEEKS AHEAD

THIS WEEK’S EVENTS AUGUST 30 [email protected]. and Wellness Center hold seminar on analyst and investor relations. 8:30 a.m. AUGUST 28 Manhattan Review holds information living a better life at work. 8:00 a.m. to to 12:00 p.m., 1177 Sixth Ave., second The Wall Street Journal and Nationwide session on M.B.A. admissions at the SEPTEMBER 10-16 10:00 a.m., Microsoft Office, 1290 Sixth floor. Fee: $225 NYSSA and NIRI Equities Corp. hold networking Wharton School of the University of SEPTEMBER 10 Ave., sixth floor. Free. (860) 496-4636 or members, $295 nonmembers. reception. 6:00 p.m. to 8:15 p.m., Social Pennsylvania. 7:00 p.m. to 8:30 p.m., Queens Economic Development Corp. [email protected]. (646) 871-3405 or [email protected]. Bar & Lounge, 795 Eighth Ave., second 420 Lexington Ave., suite 2310. Free. holds open house on its entrepreneur SEPTEMBER 18 floor. Free. (917) 975-5985 or (212) 997-1660. assistance program. 6:00 p.m. to 8:00 SEPTEMBER 17-23 New York Public Library’s Science, [email protected]. p.m., Queens Borough Hall, 120-55 SEPTEMBER 18 Industry and Business Library holds AUGUST 29 SEPTEMBER 3-9 Queens Blvd., room G-110, Kew Institute of Management Accountants, workshop on launching a consumer Networking for Professionals holds SEPTEMBER 5 Gardens. Free. (718) 263-0546. New York chapter, holds dinner on magazine. 5:30 p.m. to 7:00 p.m., 188 networking reception. 6:00 p.m. to 8:00 Banco Popular and Sandler Institute SEPTEMBER 11 navigating changes in the new Madison Ave., room 018. Free. p.m., Via, 16 W. 21st St. Fee: $10 hold networking reception and West Brighton Community Local millennium. 5:30 p.m. to 8:00 p.m., (212) 592-7000. members and $15 nonmembers in program on winning more business. Development Corp. and Business Arno’s Ristorante, 141 W. 38th St. Fee: SEPTEMBER 19 advance; $20 for all at door. 6:00 p.m. to 8:00 p.m., 441 Second Outreach Center Women’s Business $35 members, $40 nonmembers, $25 Business Networking International, (212) 227-6556 or Ave. Free. (212) 679-1201 or Center hold conference on 21st century students. (347) 643-6185 or Chapter 5, holds networking breakfast. [email protected]. [email protected]. women in business. 8:30 a.m. to 2:00 [email protected]. 7:00 a.m. to 8:30 a.m., SunBerry’s Café, AUGUST 29 SEPTEMBER 6 p.m., Staten Island Hotel, 1415 SEPTEMBER 18 106 E. 60th St., second floor. Fee: $15. Five O’Clock Club Executive Job Purple Dot Group holds seminar on Richmond Ave., Staten Island. Fee: $50. Smart Business Advisory and (646) 217-4689 or Search Group holds seminar on how to test marketing results. 6:30 p.m. (718) 816-4775 or [email protected]. Consulting holds networking reception [email protected]. advanced interviewing techniques. 6:30 to 8:30 p.m., SLC Conference Center, SEPTEMBER 11 and program on public speaking in the —adrianne pasquarelli p.m. to 8:30 p.m., 11 Penn Plaza, fifth 352 Seventh Ave., 16th floor. Fee: $49. Manhattan Chamber of Commerce workplace. 5:30 p.m. to 8:30 p.m., Yale floor. Fee: $50. (914) 788-5482 or (800) 514-3557 or holds networking reception. 6:00 p.m. to Club, 50 Vanderbilt Ave. Free. [email protected]. www.purpledotmag.com/events. 8:00 p.m., Roger Smith Hotel, 501 (610) 964-4054 or TO LIST YOUR EVENT AUGUST 30 SEPTEMBER 6 Lexington Ave. Fee: $15 members, $25 www.smartgrp.com/events.asp. Crain’s lists business meetings online and includes Oriented holds networking reception. Industrial and Technology Assistance nonmembers. (212) 473-8074. SEPTEMBER 18 them in the print edition on a space-available basis. 7:00 p.m. to 9:00 p.m., Village Corp. holds seminar on green building. SEPTEMBER 12 Bedford Stuyvesant Restoration Corp. Events in New York City with admission fees of less Pourhouse, 64 Third Ave. Fee: $5 with 5:30 p.m. to 7:30 p.m., Skadden Arps New York Media Information Exchange holds seminar on making the most of than $300 are considered for the print publication. preregistration, $10 at door. Slate Meagher & Flom, 4 Times Square, Group holds seminar on enhancing the your money. 6:30 p.m. to 8:30 p.m., Listings can be submitted only through the Crain’s (917) 531-9342 or 37th floor. Fee: $25. (212) 404-6990, fan experience. 7:30 a.m. to 10:00 a.m., 1368 Fulton St., Billie Holiday Theater, Web site. To submit a calendar listing, go to [email protected]. ext. 15, or [email protected]. SobelMedia World Headquarters, 4 W. Brooklyn. Free. (718) 636-6924 or www.NewYorkBusiness.com and click on “Events.” SEPTEMBER 7 43rd St. Fee: $25 members, $40 [email protected]. Sponsors have a choice of several free or paid list- More meetings online at Global Purchasing Cos. holds workshop nonmembers. (212) 725-2295 or SEPTEMBER 18 ing options. All business events will be posted on how to open and run a retail store. [email protected]. New York Society of Security Analysts online within two business days. www.newyorkbusiness.com SEPTEMBER 14 Click on “Events” 10:00 a.m. to 5:00 p.m., 1133 Broadway. and National Investor Relations Crain’s can neither confirm receipt of listings nor say Fee: $189. (212) 414-4001 or CenterPoint Solution and R3 Health Institute-New York hold seminar on if or when event listings will appear in the print edition.

30 | Crain’s New York Business | August 27, 2007 CNYB 08-27-07 A 31 8/23/2007 8:16 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape another strength. Tangy salmo- 2 GUYS AND A VESPA: BEST OF BOB LAPE Executive chef Michael riglio—a Sicilian mélange of herbs, White (left) and olive oil and lemon—is the perfect executive sous chef foil for thick swordfish steak grilled Contemporary Italian offers an Craig Wallen are with fennel and more of those deli- embarrassment of culinary riches: cooking up a savory cious,seasonal baby heirloom toma- storm at the handsome toes. Del Posto Tudor City spot. Pink snapper fillet arrives in a 85 10th Ave. (between West 15th winning combination of braised and West 16th streets), Manhattan. sepia, ceci beans, olives and capers; (212) 497-8090. The whole nine

halibut braised in olive oil pleases in yards, with classic food and formal buck ennis tandem with artichoke caponata. service. Mario Batali, Lidia and Joe ’CESCA is a West Side perennial favorite. There are also steaks and lamb and Bastianich, 22,000 square feet of extra-slow-braised Vermont goat— retro elegance, 1,200 wines, and the a fork-tender item accented with nicest salute to the Italian palaces celebs and much noise. gremolata, anchovies, tomato and of the 1950s that you will ever stewed eggplant. encounter. Awesome. ’Cesca ½ Desserts ($8 to $9.50) don’t ig- 164 W. 75th St. (between Amster- nite excitement but instead are sim- dam Avenue and Central Park ple, keyed to the finest ingredients. West), Manhattan. (212) 787-6300. Composed cheese plates are accom- Chef Kevin Garcia (of Del Posto) panied by homemade taralli, warm keeps this popular Upper West cranberry-nut bread and mar- Sider in the top tier of contempo- malade. More elaborate sweet end- rary neighborhood Italians. ings include verbena panna cotta ac- cessorized with Prosecco sorbet, Tini ½ and warm chocolate ganache paired 1562 Second Ave. (at East 81st with mint gelato. Street), Manhattan. (212) 628-3131. There is such a thing as too much The Lentini brothers—host Enzo

service—as when diners are polled buck ennis and chef Giuseppe—offer an after each dish about their enjoy- DEL POSTO has classic food, formal service. informal, lighter, seafood-rich take ment of it. on the food and hospitality of their Sommelier James Hamilton leads native Puglia. A raw bar serves the way through a deep, well-bal- Piano Due Mare-Tinis; the regular bar makes anced wine list with user-friendly 151 W. 51st St. (between Sixth and 20 Mar-Tinis. prices, accompanied by thoughtful- Seventh avenues), Manhattan. Tre Dici ½

catherine gibbons catherine ly chosen spirits, grappas and beers. (212) 399-9400. Michael Cetrulo of Scalini Fedeli fame comes to mid- 128 W. 26th St. (between Sixth and COMMENTS? [email protected] town. The former Palio is now a Seventh avenues), Manhattan. virtual culinary cathedral with (212) 243-8183. Curvaceous and vaulted ceilings and superb takes cozy, this striking 40-seater in When regime on classic Italian dishes. Chelsea specializes in the seafood- rich cuisine of Italy’s Puglia region, Valbella served with warmth and style. 421 W. 13th St. (between Ninth Neighborhood dining at its best. change works Avenue and Washington Street), Manhattan. (212) 645-7777. with fresh basil leaves. I’m also wild A dramatic debut in the meatpack- L’Impero remains about L’Impero’s baccalà fritto,a ing district for one of Connecti- special for refined cake-shaped cod fritter, ringed with cut’s top-rated Italian restaurants. baby manila clams, diced tomatoes, Owner David Ghatanfard makes Strictly kosher gift baskets for the holidays, Italian; pasta even garlic and pepper flakes. Grilled oc- his case with thousands of wines, condolence, & year-round events. topus stars in a salad with olives,cel- the finest ingredients and customer www.kosherline.com • 888-567-4378 a tough judge loves ery hearts and vinaigrette enlivened L’IMPERO cosseting. by bottarga—dried roe. 45 Tudor City Place fter much conjecture Mr. White and executive sous (between East 42nd and A Voce ½ about who would suc- chef Craig Wallen are peerless at East 43rd streets) 41 Madison Ave. (entrance on East ceed Scott Conant at producing memorable fresh pasta (212) 599-5045 26th Street, east of Madison), L’Impero and Alto, and dishes, and pasta is a course—a su- Manhattan. (212) 545-8555. Chef what Michael White perb one—on both tasting menus. Awould do after leaving Fiamma, the New York State Supreme Court CUISINE Modern Italian- answer is as clear as the food on our Judge Michael L. Pesce, a native American plates. Pugliese and one of most accom- WINES 350 choices, 31 by the Chef White, the wizard of Wis- plished amateur cooks I know,called glass consin, is back in the kitchen of a L’Impero’s orecchiette tossed with leading Italian restaurant, and all is pork sausage,broccoli rabe pesto and DRESS No code well with the world.After years spent Pecorino Romano “the best I’ve ever NOISE LEVEL Moderate training in Italy,wooing and winning had.” Would I argue with a judge? PRICE RANGE an Italian wife,and earning honors at Wild mushrooms and fried sage $26-$38; four- Spiaggia in Chicago as well as Fi- leaves figure in a delightful gnocchi course tasting, $64, seven-course amma in SoHo,he’s cooking up a sa- preparation, and the artichoke- tasting, $110 vory storm at L’Impero. His menus stuffed pansotti shares the plate with WINE MARKUP 90%–200% for Alto are a few weeks away. clams, calamari and diced prawns in CREDIT CARDS All major The comfortable, polished Tu- peperoncino oil. Daily specials might dor City restaurant is a destination include fusilli melded with diced RESERVATIONS Recommended for contemporary Italian-American scorpion fish, heirloom tomatoes HOURS Lunch, Mon.-Fri., noon- cooking. Food is fresh and full-fla- and herbed breadcrumbs. 2:30 p.m.; Dinner, Mon.-Thurs., vored, treated with a delicate touch It’s also impossible to err in the 5:30-10:30 p.m., Fri.-Sat., buck ennis and presented with visual flair. entrée elections. If chicken is a 5:30-11:30 p.m. A VOCE hits the right notes. That means antipasti ($12 to measure of a chef, the lemon-roast- $17) like burrata, the Pugliese ed organic bird—crispy-skinned = Outstanding cheese made of fresh mozzarella and and juicy—banked with asparagus, = Excellent Andrew Carmellini (Café Boulud) = Very good cream, flanked by red and yellow potatoes, cipollini onions and diced showcases the seasonal simplicity baby heirloom tomatoes bathed in pancetta, marks Mr. White as a = Good of Italian cooking. Spare urban chilled tomato soup and dappled great one.His handling of seafood is decor with a big piazza, many

August 27, 2007 | Crain’s New York Business | 31 Project2 7/24/07 11:09 AM Page 1

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