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nb13p01.qxp 3/23/2007 6:54 PM Page 1 TOP STORIES CRAIN’S ONLINE POLL The catering biz Is Rudy fit to heats up with new, rule? Readers high-profile players sound off PAGE 2 PAGE 12 ® Upstart airlines grab attention of big carriers on NY-London route VOL. XXIII, NO. 13 WWW.NEWYORKBUSINESS.COM MARCH 26-APRIL 1, 2007 PRICE: $3.00 PAGE 3 CONTENT MASTERS: Travelzoo soars LX.com founders despite detractors Morgan Hertzan City sets (left) and Joseph on Wall Street Varet left MTV IN THE MARKETS, PAGE 4 last year. tough plan Battlefield report: Spitzer isolates opponents, but drops in the polls on energy THE INSIDER, PAGE 14 A key goal is to reduce citywide How companies Steps would cut emissions of carbon dioxide—the use, pollution, chief culprit in global warming— help employees; by 30% by 2030. New York’s encourage new The confidential report ob- tained by Crain’s New York Business largest hospitals power plants could be revised before it is re- HEALTH CARE, PAGE 19 leased next month. But environ- BY TOM FREDRICKSON mental groups are already signal- ing strong support for the city’s BUSINESS LIVES the bloomberg administration is broad-based approach. working on a plan to reduce air “The fact that the city is trying FAMILY VISITORS pollution by requiring property to address all sectors that emit car- The joys and perils of owners to improve energy bon dioxide makes a lot of serving as hoteliers and efficiency before selling sense,”says David Gahl,air tour guides PAGE 35 TALENT SEARCH their homes and encourag- and energy program direc- ing construction of mod- 30%REDUCTION in tor for Environmental Ad- carbon dioxide ern power plants. emissions vocates of New York.“That The two proposals are sought by is where we need to be at part of a series of ambitious the city the state and federal level, Cable brains strategies in a draft of a re- as well.” port for inclusion in PlaNYC Some business groups are more 2030,the administration’s effort to cautious. “Everything is adding move to Web deal with an expected 900,000 new cost to development, whether it’s residents over the next two adding a component of affordable decades, who will bring the city’s housing or a green component,” Established programming talent population to 9 million. See CITY SETS on Page 8 AT DEADLINE leaving for online video sites; THE BLACKSTONE GROUP’S 57 venture capital fueling startups SENIOR MANAGING directors Challengers score pocketed an average of $27.8 million in pay last year, BY AMANDA FUNG according to the private equity in Clinton country firm’s prospectus for its initial in 2004,when mtv networks decided to develop a broad- public offering.The other 710 band Internet network, it turned to programming whizzes employees, including analysts Morgan Hertzan and Joseph Varet. They had a good track and administrative staffers, record at the network, having spearheaded the launch of Obama, Edwards received an average of $350,000 in compensation several ethnic music channels and a college campus network lure party stalwarts and benefits. Blackstone known as mtvU. in hunt for money intends to raise about Today, as MTV—owned by Viacom Inc.—pushes $4 billion by selling a stake in deeper into the online video business, it does so without the its management company at a two programmers. Messrs. Hertzan and Varet left last year BY ANNE MICHAUD time when financial IPOs by to start LX.com, a Manhattan site featuring lifestyle and en- New York firms are doing well. tertainment videos for affluent viewers. recruited last year to host The two are part of a wave of executives and producers fund-raising parties for former THE CHIEF EXECUTIVES OF THE Sen. John Edwards, New York at- LARGEST HOSPITALS in the ditching cable TV for online video. In the past 18 months, torney Michael Miller figured the New York area averaged cash more than a dozen New York cable professionals have left task would involve polite conver- See CABLE on Page 10 compensation of $889,226 in sation full of awkward silences. bloomberg news See AT DEADLINE on Page 2 “Frankly, this is enemy territo- OUT FRONT: Sen. Hillary Rodham Clinton is ry,” he says, referring to Sen. viewed as the inevitable front-runner. Hillary Rodham Clinton’s per- 13 ceived dominance among Big Ap- 5 COMINGNEXT WEEK ple Democrats. fund-raisers for Mr. Edwards, in- Never before have so many young Yet Mr. Miller, who is new to cluding a recent $1,000-a-person people had so much money. Crain’s the political money game, discov- event at the Essex House, over- ELECTRONIC EDITION April 2 WEALTHY NEW YORKERS section ered a friendly crowd among the looking Central Park South. “The looks at how they spend and invest it. city’s legal, arts and business class- reception has been very gratify- NEWSPAPER es. He has hosted a number of See CHALLENGERS on Page 8 71486 01068 0 CNYB 03-26-07 A 2 3/23/2007 6:12 PM Page 1 AT DEADLINE Continued from Page 1 an “open skies” agreement with 2005, according to a series of the United States last week will pay charts published in Crain’s spur more European airlines to (see Pages 26 and 29).The issue target the city’s air travel market of compensation for hospital and give New York fliers more executives has become a European destinations to lightning rod in the Albany choose from starting next debate over Gov. Eliot Spitzer’s March. Virgin Atlantic has plan to overhaul health care already announced plans to fly financing.The highest-paid to New York from all the CEO was Memorial Sloan- European capitals. Congress is Kettering’s Harold Varmus, who expected to codify the pact next earned $2.5 million, followed by month. Herbert Pardes of New York- Presbyterian at $2.2 million. NEW YORK ATTORNEY GENERAL ANDREW CUOMO has asked some RETIRED TENNIS CHAMPION 100 colleges and universities in ANDRE AGASSI is turning out to the state about their be a winner on a different court. arrangements with financial According to publishing sources, firms offering loans to their bidding for the world rights to students. In all, the attorney his memoir has reached general’s office has contacted $5.35 million and is still rising. 400 schools nationwide. Mr. Executives from eight houses, Cuomo cited Fordham including Simon & Schuster, University, St. John’s University HarperCollins and Knopf, went and Long Island University as gibbons catherine PARTY PEOPLE: Stephen Baroni, chef Robb Garceau, David Swinghamer and Danny Meyer (from left) of newcomer Hudson Yards Catering. to Las Vegas last week to meet among the schools that received with the retired star. revenue-sharing payments from San Francisco-based lender ASSEMBLYMAN VITO LOPEZ, Education Finance Partners. CHAIRMAN of the Housing Committee, plans to announce A SPECIAL COMMITTEE OF SMITH today a push for legislation that & WOLLENSKY’S board of Catering heats up would require New York City to directors is reviewing a proposal use a lower average median by Landry’s Restaurant Group income figure to determine who to buy the steakhouse chain for qualifies for affordable housing. a 50 cent per-share premium Big players vie for contracts in booming industry The federal AMI for a family of over a previously accepted offer four in the city is $56,700, but by Patina Restaurant Group. city agencies currently use Patina’s chief executive, Nick BY LISA FICKENSCHER $70,000, according to Mr. Valenti, says that he wants to Lopez.The change would know whether Smith & danny meyer may be self-effacing and gracious, but his rivals know the sting of competing exclude higher-income New Wollensky will accept Landry’s against him. Yorkers who are now eligible for offer before considering raising So, when the highly acclaimed restaurateur declares his ambition to become a leader in the affordable housing. One his offer of $79.5 million, or consequence of the bill would be $9.25 per share. In the catering field, the veterans of the rubber-chicken circuit can be expected to feel the pain. an increase in government meantime, Smith & Wollensky “When Danny Meyer decides to go into the business, he’s going to get market share, and it’s subsidies for affordable units. launched a national ad going to hurt,” says Jim Kirsch, chief executive of 30-year-old catering firm Abigail Kirsch. campaign last week that will air AVIATION EXPERTS SAY THAT THE on CNN, CNBC, MSNBC and Mr. Meyer, the most prominent newcomer, joins a big and boisterous party.The strong EUROPEAN UNION’S approval of other outlets. I economy in New York has fed an explosive period of growth for the catering industry. More event spaces are opening, and a host of competitors—from top restaurateurs like Gray Kunz to food-service giants like Aramark—are bounding into the fray. THIS WEEK IN CRAIN’S Revenues are rising faster than a perfect soufflé. Annual sales for New York caterers jumped 10% last year, to more than $800 million, a record high.They have increased more than 25% over SMALL BUSINESS ------------------- 11 the past four years, according to Carl Sacks, director of consulting services for Catersource, an See BIG PLAYERS on Page 9 VALERIE BLOCK ---------------------------13 THE INSIDER------------------------------------14 WEEK IN REVIEW -----------------------16 REPORT: City ready to Make Music HEALTH CARE-----------------------------19 Nearly every type of music, in- help with the New York festival. 37 REAL ESTATE DEALS--------------31 One-day June event cluding religious compositions from Working in donated office space, THE WEEKS AHEAD ----------------31 will offer 1,200 free Turkey and underground hip-hop, Mr.

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