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TOP STORIES DIVERSITY How much progress Mass retailers after years of effort? discover the joy Pages 15-22 of yoga apparel PAGE 2 ® Hip diners close their doors as costs soar VOL. XXIV, NO. 26 WWW.CRAINSNEWYORK.COM JUNE 30-JULY 6, 2008 PRICE: $3.00 PAGE 3 John Lennon’s Two Virgins necklace: More delays yours for half a mil NEW YORK, NEW YORK, P. 6 ahead at How Zabar’s loyal workers keep competition WTC: audit in second place SMALL BUSINESS, PAGE 23 son today, according to real estate Port Authority sources. chief to undertake This month,after the Port Au- thority had missed another exca- reassessment; new vation deadline, Mr. Paterson re- dates months away quested an audit of the site by June 30. But sources say that to fully determine the extent of the chal- BY THERESA AGOVINO lenges and avoid establishing yet another set of unrealistic dead- the redevelopment of the lines, a thorough examination of World Trade Center site is so the project is necessary. fraught with problems,delays and “This is an opportunity for cost overruns that it will take Gov. Paterson to try to reform a months to sort out all the issues process that has been stalled,”says NEXT WEEK and develop a new timetable and Basil Smikle, a political consult- budget. ant. “It gives him an opportunity CRAIN’S GUIDE roger hagadone That’s the message the new to show leadership.” TO THE STATS EMPTY FEELING: The trading floor of chief of the Port Authority of Currently,the Port Authority’s the NYSE is sparsely populated New York and New Jersey, Freedom Tower and Larry Silver- THAT MATTER (above) compared with a decade or so ago (inset), when throngs of Christopher Ward, will deliver to stein’s three buildings are due to his board and Gov. David Pater- See AUDIT on Page 8 THIS YEAR IN traders hustled for business. ap images NEW YORK CITY

AT DEADLINE NYSE filling 7 groups ready THE MARKET FOR INITIAL PUBLIC OFFERINGS IS experi- its empty floor bids for Starrett encing its biggest collapse since the dot-com bubble ex- ploded. Just 36 U.S. companies Live traders, opening bell add up Nonprofits’ role is went public in first-half MAKING AN OFFER 2008—a 73% drop from a year to big fees from listed companies key; eye price 7 groups that have confirmed their ago, Renaissance Capital says. interest in bidding for Starrett City: The last time business fell so under $1 billion BY AARON ELSTEIN G The Bluestone Group sharply: 2001, when IPO volume plunged by 80%. Half BY DANIEL MASSEY G Christian Cultural Center a dozen New York companies for years, a chorus on Wall Street loudly proclaimed the coalition* New York Stock Exchange’s historic trading floor to be obso- have completed offerings this at least seven groups are put- G lete and predicted it would be swept away by the fast pace of Enterprise Community year, versus 14 a year ago.The ting together pitches to buy Star- Partners six firms are movie distrib- computer-driven trading. Few were more certain of this than rett City,as the July 8 deadline ap- utor RHI Entertainment, in- Duncan Niederauer, once a powerful Goldman Sachs execu- proaches for bids on the largest G L+M Development Partners vestment adviser RiskMetrics tive who oversaw electronic trading services. federally subsidized housing com- G The New York Housing Group and four blank-check “It’s an unsustainable model,” he told Forbes in 2000. plex in the nation. Partnership companies. Most will include nonprofits, Today, as chief executive of NYSE Euronext, Mr. Nieder- G since tax-exempt groups could fi- The NHP Foundation auer has undergone a remarkable change of heart.The former THE BUDGET DEAL STRUCK nance the purchase of the Brook- G Omni New York BETWEEN THE CITY COUNCIL critic is now doing everything he can to prop up the trading lyn property through the sale of *Also includes the Metropolitan Council on Jewish and Mayor Michael Bloom- floor, trying to slow what in the past few years has been a bonds. Many bidders are working Poverty, the NYC Central Labor Council, Apollo Real Estate Advisors and The Cogsville Group. See AT DEADLINE on Page 2 See NYSE on Page 8 to put together teams that include Source: Crain’s research See STARRETT on Page 8 26

5 SUMMER IN THE CITY NINE GREAT IDEAS FOR ELECTRONIC EDITION FUN THIS SEASON Page 27 NEWSPAPER 71486 01068 0 CNYB 06-30-08 A 2,3 6/27/2008 7:19 PM Page 1

AT DEADLINE Continued from Page 1 celebrating its 50th anniversary. Yoga craze brings berg restored $129 million in Owner Lawrence Auriana says education funding and avoided key staffers are “reaching an age a real estate tax hike—but at the where they should enjoy life a cost of using a significant part bit.” Mr. Auriana, a mutual fund of the city’s $4.6 billion manager, bought the eatery a retailers to Zen zone available surplus. The city will decade ago from its founder and use about $1 billion of its namesake. Mr. Auriana says that reserve over five years to pay for he will either sell the building, at J. Crew, others launch apparel salary increases for police and 207 E. 34 St., or lease it to other uniformed employees, in another restaurant. KATE GAERTNER addition to the $3.2 billion in lines; squeezing the studios? opened her shop, surplus funds the mayor had THE CITY’S PLAN TO Omala, in Brooklyn TRANSFORM WILLETS POINT to promote her proposed using to balance the BY ADRIANNE PASQUARELLI multipurpose yoga next annual budget. In total, it into a development that clothing. appears that the city is ready to includes housing, a hotel, retail yoga inspires tranquility and calm in its adherents. exhaust more than 90% of its space and a convention center Mass retailers are finding a different kind of rainy day fund to cover could get a big boost tonight operating expenses. when Queens Community inspiration—a purely financial one—for launching Board 7 casts an advisory vote yogawear lines. TAO IS THE LATEST ENTRY ON A on the proposal.The board’s Selling yoga apparel has long been the domain of GROWING LIST OF HIGH-PROFILE Willets Point committee voted New York restaurants being overwhelmingly in favor of the specialty shops and back alcoves of sued for allegedly underpaying project last week, but members studios or gyms. But now, large their servers. A lawsuit filed on could switch sides if the city companies like J. Crew, Victoria’s behalf of two former employees does not resolve outstanding Secret and J.C. Penney are charges that concerns about traffic and the Tao failed to board’s future role in the jumping on the Zen pay for redevelopment. bandwagon, rolling out or overtime and testing their own yoga tips from POLYTECHNIC UNIVERSITY WILL styles. Department private RAISE TUITION RATES OVER parties. the next several years to match store chain Lord & Outten & those at New York University, Taylor is making Golden, with which it’s merging. But more room on its which is tuition will increase just 5% next representing the workers, filed a year, says Craig Matthews, shelves for similar complaint against chairman of Polytechnic’s board yogawear. Buddha Bar NYC in March. of trustees.The union received “With yoga, we’ve The law firm also won a final state approval last week. had so many requests,” preliminary $3.9 million Polytechnic President Jerry settlement last week after a two- Hultin is expected to remain in Tracy Gardner, year battle on behalf of his role and will report directly J. Crew’s president of employees of the Fireman to NYU President John Sexton retail and Hospitality Group. and Provost David merchandising, says of McLaughlin. News of the NICOLA PAONE, THE FAVORITE merger has already helped consumer demand for ITALIAN RESTAURANT OF A LONG expand Polytechnic’s applicant comfortable leggings and line of mayors, including Rudy pool, which is up 20%. Graduate form-fitting tops. Giuliani, served its last meal enrollment is also expected to david neff Saturday, two months after increase by at least 20%. Yoga’s growth has been explosive. More than 14 million people in the United States THIS WEEK IN CRAIN’S practice yoga and tai chi, a 125% increase over the past eight years,

NEW YORK, NEW YORK------6 according to the Sporting Goods 29 See MASS RETAILERS on Page 7 ALAIR TOWNSEND ------11

THE INSIDER------12 MULTIPLE AWARDS NEIGHBORHOOD

JOURNAL------13 WEEK IN REVIEW ------14 Crain’s honored for excellence REPORT: DIVERSITY------15 CRAIN’S NEW YORK BUSINESS has won the first-place In addition, the paper won a first-place award for SMALL BUSINESS ------23 award for general excellence at the the best use of photography and illustration and 31 annual competition of a third place for best overall CLASSIFIEDS ------24 the Alliance of Area design. Business Publications. Editor Greg David REAL ESTATE DEALS------26 It is the third time the received a first-place BUSINESS LIVES------27 weekly newspaper has award for editorial writing won the coveted honor. for his 2007 column “How CORPORATE LADDER------29 “This publication is to save the garment EXECUTIVE MOVES------29 inviting to read and has district.” Senior reporter great, sassy writing,’’ the Aaron Elstein won a BOB LAPE ------31 judges said. “The second place for his 2007 THE WEEKS AHEAD ------31 personality of New York investigative story “The shows through in the swindle on Staten Island.” vol. xxiv, no. 26, june 30, 2008—Crain’s New York Business (issn 8756-789x) is published weekly by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals lively, stylish stories and Earlier this year, the postage paid at New York, N.Y. and additional mailing offices. Postmaster: Send address sophisticated editing. Society of American 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 Strong cover stories, Business Editors and Writers copy, $59.79 one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents particularly the investigative pieces, help make this a awarded Crain’s one of five awards for general copyright 2008 by Crain Communications Inc. All rights reserved. winner. Solid headlines and design rounded out the excellence for weeklies and gave Mr. David a first-place package.” award for his column writing.

2 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 2,3 6/27/2008 7:19 PM Page 2 Hip diners pack it in

wall over the past couple of years. Out-of-control costs They include Jerry’s, a happening force wave of faux- joint on Prince Street in SoHo, the Broadway Diner on Lexington Av- retro spots to shut enue and the downtown outpost of down or revamp EJ’s Luncheonette. “There is just so much you can charge for a hamburger or a plate of BY LISA FICKENSCHER eggs,” says Robert Eby, co-owner of EJ’s. closing 13-year-old Mayrose was The consequences are apparent. hard for owner Jim Heckler. The The current Zagat Survey for New trendy Flatiron diner was not only York City lists 15 notable “coffee popular but also where he met his shops and diners.” The 2003 guide wife. listed 22. With his profit margins shrivel- ing like bacon on a hot griddle, and No more blue plate special other diners around the city folding older diners feel the most heat. right and left, Mr. Heckler decided Even the famous Empire diner on that he had no choice. 10th Avenue and West 22nd OVER EASY: “There is just so much “Diners simply can’t generate Street—an institution highlighted you can charge for a enough revenue to pay the high rents in countless tourist books—may not plate of eggs,” says in New York City,”says Mr.Heckler, be around be around next year. Robert Eby, co-owner who closed the eatery late last year. “Our lease is up in 2009,” says of EJ’s Luncheonette.

Mayrose was no old-school owner Renate Gonzalez. “We hope levinekarjean eatery but part of a new wave of din- the landlord will consider extending ers that sprang up about 15 years it, but we don’t know.” placed the former with a large food later added a shop at West 23rd Mr. Heckler came to the same ago. These hipper versions of the Two other well-known diners— processor that can slice vegetables in Street, will open a third on Staten conclusion at Mayrose. His solution classic 1950s-style neighborhood Cheyenne and Market—have disap- seconds, and he now gets desserts Island late this summer. A develop- was simply to get out of diners.With restaurant were designed to better peared over the past two years. The from suppliers. er building a strip mall has offered to 12 years left on the lease in the Flat- withstand the high-cost New York former lost its home on West 33rd Eisenberg’s Sandwich Shop, shoulder most of the costs of build- iron district, he remodeled the space market by emphasizing fresher, Street and Ninth Avenue to make which opened in 1929 and features ing out the new space. and reopened as a trattoria,patterned tastier food in a jazzier setting—and way for an apartment building. The a soda fountain of the era, hopes to afteroneherunsinBrooklyn.Charg- nudging up their prices accordingly. latter, at West 43rd Street and 11th serve up something a bit more brac- Goodbye, Manhattan ing $25 for roasted monkfish and $23 In the face of soaring food costs Avenue, folded under the weight of ing. Owner Josh Konecky says the “our growth will come from out- for prawn risotto,he has managed to and rents that have more than tripled an astronomical rent increase. recent influx of European tourists to side Manhattan,” claims Comfort triple his average check,to about $50 in the past several years,it’s clear that To hang on as long as possible, the spot, at Fifth Avenue and 22nd Diner owner Ira Freehof, who has per person.It also helps that the trat- the days of both newfangled and tra- many owners are trying to pare ex- Street, persuaded him to apply for a doubts about his shops there. “I am toria has effectively allowed him to ditional diners are numbered. penses and search for other ways to beer and wine license. concerned about what will happen expand his evening hours. “What makes a diner a challenge make money.Some have abandoned “It could make a big difference” when our two leases come due,” he “People went to Mayrose for to operate is the large variety of food the diner model entirely. financially, Mr. Konecky says. says. The lease on East 45th Street breakfast or lunch, but they don’t they offer and their small profit mar- Mr. Eby,whose EJ’s chain is now Others are convinced that diners expires in 2010, and his ability to want to hang out in a diner late at gins,” says Stephen Zagor, director down to two locations,on the Upper do have a future—just not in Man- cope with a big rent hike is limited. night,” he says. of management programs at The In- East Side and the Upper West Side, hattan. The Comfort Diner, the “You are no longer a diner if you stitute of Culinary Education. has laid off a prep chef and baker at 1950s-style eatery that opened on charge $14 for a burger,” says Mr. COMMENTS? A rash of modern diners hit the the East Side place this year. He re- East 45th Street 12 years ago and Freehof,whose burgers start at $8.50. [email protected]

BY THE NUMBERS It’s got ad algorithms BIG AD SPENDERS eleven new york city companies ranked among the 50 Startup Peer39 says which was acquired by AOL for takes into account the meaning of about $340 million, Peer39 began an entire Web page.Contextual ad- top-spending U.S. advertisers last year, the latest rankings killer app is first to in Israel and will maintain its re- vertising firms place ads based on from Advertising Age show. Dollar figures are in millions. decipher Web pages, search and development labs there. words on a Web page, while behav- In New York, it has recruited an ioral targeting technology places NATIONAL TOTAL U.S. PERCENT but rivals chasing it executive management team of in- ads on Web pages based on a per- RANK AD SPENDING CHANGE dustry veterans, including two for- son’s Web-surfing history. MARKETER IN 2007 IN 2007 VS. 2006 BY AMANDA FUNG mer senior executives from Tacoda, “Semantic advertising will be the a behavioral-targeting online-ad future and perform much better,” Verizon 3 $3,016.1 +8.0% shop that AOL acquired last year says Melek Pulatkonak,president of the online advertising market for about $275 million. It is also Hakia, a four-year-old search en- Time Warner 5 $2,962.1 -3.6% will get a bit more crowded today, well-capitalized, raising $12 mil- gine that uses semantic technology. when Peer39 launches. lion in funding from J.P. Morgan “There is a lot of interest from com- Macy’s 21 $1,389.7 +2.0% The startup says it has developed and venture firms Canaan Partners panies to find out what this technol- the next killer app: a tech- and Dawntreader Ventures ogy will be able to do for advertisers.” Viacom 24 $1,309.9 +29.6% nology that can read and since 2006.Peer39 has been Tapping into the lucrative on- understand the meaning of $12M in stealth mode while line ad market won’t be a breeze. Pfizer 28 $1,252.9 +24.5% AMOUNT a Web page and then place Peer39 raised preparing for its Monday There are signs that online ad News Corp. display ads on relevant in funding commercial launch. growth is slowing and competition 29 $1,210.4 -13.6% pages, using what’s known since 2006 Mr. Solomon says is getting fiercer.And a slew of oth- Citigroup 33 $1,135.3 -7.3% as semantic advertising al- Peer39’s revolutionary se- er well-positioned online ad firms gorithms. Since its software does mantic advertising algorithms will are sprouting as well. Last month, J.P. Morgan Chase 39 $1,073.9 -7.1% not track users’Web-surfing habits, set it apart. “We are the first with a Manhattan online ad startup Me- the firm avoids any privacy issues commercial product on the market, dia6Degrees snagged longtime American Express 40 $1,050.0 +13.0% that other online ad firms confront, as far as I know,” he says, although Microsoft executive Joe Doran as says Amiad Solomon, chief execu- he acknowledges others are working its chief executive. He will lead its Estée Lauder 43 $956.1 -7.3% tive of Peer39. on similar technology. launch later this summer. Like other Manhattan-based He argues that semantic adver- IAC 50 $806.1 +1.7% online ad shops such as Quigo, tising is more effective because it COMMENTS? [email protected]

June 30, 2008 | Crain’s New York Business | 3 CNYB 06-30-08 A 4 6/27/2008 7:46 PM Page 1

IN THE MARKETS HIGHLIGHTS REEL Poised for gain, Viacom -4.8% The Bloomberg/ sends out ‘buy’ signals Crain’s New York Index

➡ fell 4.8% to Street’s distaste for media companies that separation from DreamWorks could be a end the Cable successes, video rely on advertising revenue.That dislike is good thing. J.P. Morgan analyst Imran week at game sales should only intensifying as the economy cools Khan recently noted that DreamWorks’ 308. The and marketers contin- hits last year, such as S&P 500 reverse media stigma ue shifting their ad Transformers, were off- Index fell dollars to the Internet. set by its flops, includ- 3.0%, Paramount has ing The Heartbreak closing at BY MATTHEW FLAMM been another cause of Kid. Mr. Khan says 1278. concern. Its relation- Paramount might be wo years after Executive ship with Stephen better off sticking to Chairman Sumner Redstone Spielberg’s Dream- lower-budget films split Viacom into CBS Corp. Works studio, which from its own MTV and and Viacom Inc., the half it bought in 2006, ap- Nickelodeon labels. that retained the company’s pears to be coming to In fact, this year RISERS Toriginal name and its crown jewels—its an end. Some analysts Paramount is on track 5-DAY 1-MONTH 3-MONTH CLOSING cable networks and the Paramount movie worry that void will be to improve on its 2007 % CHANGE % CHANGE % CHANGE PRICE studio—is on a roll. tough to fill. performance. Thanks Loral Space +12.4% -4.8% -26.5% $17.95 True, Wall Street has tired of the Via- Viacom’s strengths to Iron Man, Kung Fu Barr Pharmaceuticals +9.3% +4.3% -6.9% $44.90 com show, driving the shares down 30% look likely to triumph Panda and the latest this year.But that’s all the more reason for over those concerns. Indiana Jones sequel, Celgene +6.3% +6.9% -4.0% $63.33 investors to switch to Viacom and buy The company’s suite all of which it distrib- Schering-Plough +5.8% -2.2% +1.8% $19.64 shares in a blue-chip company which now of more than a dozen Market cap $19.5 billion uted, Paramount re- Sirius Satellite +5.5% -19.2% -25.8% $2.10 trades at a discount to its peers. targeted cable chan- Trailing 12 months P/E 11.1 cently became the first The “buy” signals are clear. The com- nels and its growing Sumner Redstone’s age 85 studio this year to rack pany’s Comedy Central network recently video game business up $1 billion in box of- SINKERS posted record ratings, thanks to South should allow it to eke fice receipts. 5-DAY 1-MONTH 3-MONTH CLOSING Park and The Daily Show. MTV has got- out modest gains, de- Last year, revenue % CHANGE % CHANGE % CHANGE PRICE ten its groove back with The Hills and A spite the economy. spiked 18%, to $13.4 billion, as earnings Syms -30.6% -18.4% -1.4% $12.32 Shot at Love with Tila Tequila.And strong “They have unique brands that are per share rose 11%, to $2.42. MBIA -25.4% -42.2% -66.6% $4.17 sales of video game Rock Band, combined known nationally and internationally, Analysts surveyed by Reuters are fore- with advertising growth at the networks, Ambac -21.5% -50.2% -73.4% $1.61 and are well entrenched in the markets casting that revenue will grow 9% in helped the company’s profits surge 33% that advertisers are looking for,like young 2008, to $15.4 billion, with earnings per Russ Berrie -18.7% -31.7% -38.0% $8.53 in the first quarter. viewers and kids,” says David Joyce, me- share rising 10%, to $2.66. Avis Budget -18.1% -34.6% -18.2% $8.91 Those developments have been all but dia analyst at Miller Tabak & Co. ignored in recent months due to Wall Others go so far as to suggest that the COMMENTS? [email protected]

STOCKS TO WATCH by Erik Ipsen SEC mulls cutting ratings on Moody’s and its fellow travelers to ‘irrelevant’ AFTER HAVING assigned top ratings to hundreds of billions of dollars of dodgy securities, Moody’s and the other credit ratings agencies have been punished by Wall Street. Last week, it was the Securities and Exchange Commission’s turn to take up the club. The regulator is proposing rules under which institutional investors could simply ignore those ratings. Moody’s earnings have fallen for three straight quarters. Two years ago, fashionistas sniffed at New York & Co.’s “dated” fashions, and shoppers and investors alike abandoned the retailer. But the shares have soared 47% since January. The company’s value-oriented offer of items selling for an average of $17 is a hard-times hit with consumers, and tight inventory controls that allow New York & Co. to avoid costly price cuts are popular with investors. First-quarter earnings were up 38%. Talk about false dawns. On June 9, commercial lender CIT landed a much-needed $3 billion cash injection from venerable Goldman Sachs. CIT’s shares dutifully rallied 11% over the next three days. Then gravity and the credit crisis reasserted themselves on the firm, which has lost more than $500 million and has $10 billion in debt to repay by the end of the year. The stock is down 66% so far in 2008. charts: grange paul

4 | Crain’s New York Business | June 30, 2008 Project4 6/26/08 3:01 PM Page 1

LAST CHANCE TO NOMINATE YOUR COMPANY!

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Newmark Knight Frank is pleased to have represented Villa Holdings NEW YORK,NEW YORK edited by Valerie Block in the sale of a 1 million-rentable-square-foot, mixed-use 22-property portfolio No recession for rock memorabilia in imes are tough, but rock ’n’ roll collectibles will never die. An Clark, NJ upcoming auction, featuring such gems as the necklace John Lennon wore on the cover of Two Virgins and a rare Elvis Presley peacock T Pete Richard Mirliss, Hope G. Brodsky and Chris LoSapio jumpsuit, is likely to bring in millions, says entrepreneur of Newmark Knight Frank and David L. Noonan, Siegel. His Gotta Have It! memorabilia emporium on East 57th Jennifer Schwartzman and Justin DiMare of Street is putting hundreds of consigned items on the block at Newmark Knight Frank Capital Group represented www.gottahaveit.com, starting July 21. Villa Holdings in this transaction. Mr. Siegel expects a buying frenzy.“We believe the jumpsuit will set a new record for Elvis costumes,” he says.The 1974 outfit—tailored to fit a relatively svelte King—is expected to fetch well over $300,000. Britney Spears’ Mousketeer T-shirt—bearing autographs of fellow Mouse-clubbers Justin Timberlake and Christina Aguilera—should bring in a more modest $15,000. “It’s before-they-were-famous stuff,” says Mr. Siegel, who figures Madonna’s personal planner from 1986, when she was Mrs. Sean Penn, will also draw big bucks. But the showstopper should be Mr. Lennon’s “talisman” necklace. Acquired in India during the Beatles’ Maharishi phase, the leather and bead

getty images choker could snag as much as $500,000.

executive at Tommy Hilfiger, Polo years ago but didn’t open an office HD Radio pushes and Mossimo, the bakery expects here until March. Last week, the to be heard to open 150 stores nationwide firm sent thousands of bright red over the next five years. “People Love Us on Yelp” decals radio companies have a plan for “There are national doughnut, to New York City businesses that getting HD Radio on listeners’ cookie and pretzel companies,” received good reviews. radar. A $57 million, 13-week says Crumbs founder Jason Bauer, The stickers are helping to nationwide campaign launched who launched the bakery with his raise brand awareness for Yelp, today is aimed at convincing wife, Mia, on the Upper West Side though “we never envisioned The Sony Building at consumers that the channels they five years ago. “Now we are in a them as a marketing campaign,” can get from local stations—like position to be a national cupcake says co-founder Jeremy Stoppelman. 550 Madison Avenue: the classic rock WNEW-FM of company.” Still, it doesn’t hurt that several old—make upgrading to HD Introduced in March via a storefronts on MacDougal Street worthwhile. private equity fund, the Bauers are already displaying the decals The effort is in addition to the and Mr. Lewis alongside their Zagat ratings. TOBY winner in the $200 million blitz that has been have moved Yelp hopes more local International category for introducing listeners to the digital quickly. establishments will begin paying format over the past two years. They have to advertise on the site, which Corporate Facility of the Year This latest step is meant to help signed currently has more than 3 million them “figure out what additional deals to comments—including ones on 2008 stations will interest them,” says open 15 about 22,000 New York Diane Warren, senior vice president stores, businesses. at the HD Digital Radio Alliance. including four “That’ll be a motivating factor in Manhattan Contributors: Lisa Fickenscher, Matthew toward purchasing an HD radio.” designed by restaurant Flamm, Amanda Fung, Gale Scott Congratulations The alliance has its work cut development firm BCD. Crumbs out. Retailers sold fewer than currently has five Manhattan CLOSED BOOK to the 400,000 HD receivers last year, stores, one in East Hampton and according to iBiquity Digital Corp. two in Los Angeles. AFTER 12 YEARS at 95 Fulton St., That’s out of about 70 million The company sells 75,000 the Strand Book Annex will shut Grubb & Ellis team radios sold, the alliance says. cupcakes each week at its stores its doors on Aug. 31 and is “HD Radio came in too late,” and through a wholesale business offering all titles—new, used, and everyone at says analyst Dave Van Dyke of that serves such gourmet markets rare and art-related—at 20% off Bridge Ratings. “Satellite radio as Balducci’s, Zabar’s and Dean & its already-discounted prices. Sony Corporation got the ‘niche position’ in the DeLuca. The independent bookseller mind of the listener first.” also promises random promos, of America like gift-card giveaways and Yelp looks dollar-book Starting a trail for some help specials. The of Crumbs Strand’s flag- reviews can make or break a ship, at 828 crumbs bake shop, trendy company, including ones like Broadway, purveyor of Oreo, Snickers and those on Yelp, a site that offers and Central Red Velvet cupcakes, has consumers’ opinions on everything Park kiosks expansion plans on its plate. With from restaurants to dry cleaners. remain open. an eight-figure investment from San Francisco-based Yelp

Edwin Lewis, a former top apparel launched a New York section two istockphoto

6 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 7 6/27/2008 3:30 PM Page 1

Mass retailers jump on yoga bandwagon

Continued from Page 2 price points to meet the needs of all Crew,which boasts over $1.3 billion But others say those companies Manufacturers Association. consumers. In August, J.C. Penney in overall sales, might hurt small lo- cater to mainstream markets and With apparel prices that average will launch a private label, Xersion, cal companieslikeManhattan-based could expand the overall pie. $50 for tops and $77 for bottoms, for yoga customers.The chain hopes Alice + Olivia and Brooklyn-based Kate Gaertner opened her shop, according to various retailers, join- to sell the activewear line at its Man- Omala, which are also expanding Omala, in Boerum Hill last year to ing in makes sense. As the recession hattan Mall location when it opens their inventories and outlets. promote her multipurpose yoga curtails consumers’ spending on here next fall. Meanwhile, Lord & clothing.As a yoga practitioner,Ms. pricey duds, yogis are dedicated Taylor,which currently carries Hard Enough room for all Gaertner was dissatisfied with the enough to make other financial sac- Tail, Fila and Danskin, is planning another giant, Canadian ac- drab clothing styles available and rifices to wear the right attire. an aggressive expansion of yoga ap- tivewear company Lululemon Ath- wanted to offer more eco-friendly, “Even though the economy is a parel offerings. letica, which currently has one fashionable options. “I want it to be little bit tricky, there are certain Manhattan location in Lincoln feminine, stylish and comfortable,” “A lot of these pieces transcend FASHION OR niches that are recession-proof,” the yoga studio,” explains a mer- Center, is planning three more store she says. FUNCTION: Omala says Jayne Mountford, vice presi- chandising executive at Lord & openings in Manhattan this fall, in Boerum Hill dent of trend reporting at Style- Taylor. putting additional pressure on local COMMENTS? offers both.

sight. “Fitness activities like yoga Competition from big fish like J. shops and studios. [email protected] neff david fall into that category.” The big players see yoga, which encourages participants to adopt an overall ecological and spiritual lifestyle, as a way to tap into current wellness and environmental trends. The activity’s recent rise can be at- tributed to an increase in green awareness and a desire among baby boomers for a fitness regimen that puts less stress on the body than run- ning or aerobics. “Everyone is thinking green,” says Paulette Thompson, a market Different Chords. analyst at fashion consulting firm The Doneger Group. “Yogawear Perfect Harmony. All Rights © Reserved. 2008 LLP. Dickstein Shapiro ‘Everyone is thinking green; yogawear definitely plays into that’

definitely plays into that with soy and bamboo fabrics.” Catering to this group of eco- fashionistas, the offerings now range from lingerie to wraps. De- signers are focusing on stylish looks that can be worn straight from the yoga studio to the nightclub. Fab- rics must be tight-fitting and breathable. “You don’t need to spend a for- tune on yoga clothes to do yoga. But people love fashion,” says Jo Sgam- mato, an instructor at Integral Yoga Institute of New York, who goes by the spiritual name of Chandra. Customer requests in may, J. Crew responded to nu- merous customer requests by launching its line of yogawear. The EXPERIENCE DIVERSITY. label debuted at the retailer’s Rock- efeller Center location as part of a Dickstein Shapiro LLP understands that innovative solutions to legal challenges are born of diversity—diversity of attorneys, temporary promotion. Currently, diversity of practice areas, diversity of clients, and most importantly, diversity of thought. That is why Dickstein Shapiro the yogawear is sold at jcrew.com, but the chain will continue to test has made advancing diversity a top priority and has been consistently recognized for its commitment to this initiative. the line at various stores. Vault ranked Dickstein Shapiro #1 for Overall Diversity in its 2008 Top 100 Law Firms guide. The Firm also was selected “It’s become one of those organ- by Working Mother magazine as one of the 2007 Best Law Firms for Women, and it received a 100 percent rating in the ic growth opportunities,” says Ms. Gardner. Human Rights Campaign Foundation’s 2008 Corporate Equality Index. As a leader in law firm diversity, Dickstein Shapiro Also in the testing phase is VSX, partners with its clients, the Minority Corporate Counsel Association, and other premier organizations to advocate the new activewear label from Vic- diversity in the legal industry. toria’s Secret, which is owned by Limited Brands. Currently offered in 25 states, the line, which includes WASHINGTON, DC | NEW YORK | LOS ANGELES yoga apparel, is so new that execu- Prior results do not guarantee a similar outcome. tives would not comment. Middle-market retailers are try- ing to keep up by offering varying

June 30, 2008 | Crain’s New York Business | 7 CNYB 06-30-08 A 8 6/27/2008 7:47 PM Page 1

Audit: more trouble at WTC

Continued from Page 1 be ensuring that Mr. Silverstein can dreams. The problem from the be- be finished by 2012.The target date deliver at least one of his office tow- ginning was that the plans were cre- for the memorial plaza is 2010, and ers within five years. The developer ated to impress architecture critics.” the one for the transportation hub is negotiating with Merrill Lynch & The Port Authority is trying to and memorial museum is 2011. Co. to move its headquarters to the take a more realistic approach, but Government-funded site studies building when its lease at the World the challenges are daunting. For ex- have estimated that the deadlines Financial Center expires in 2013. ample, federal standards might are likely to be missed by 18 to 36 Local leaders have said that keeping change to require the agency to dis- months and that the $8.4 billion the bank in lower Manhattan is cru- mantle the box built to protect the REALITY CHECK: earmarked for the Port Authority’s cial to maintaining the area as a fi- No. 1 train during construction and The new Port projects isn’t enough. nancial industry nucleus. build another one. Authority chief is expected to revisit Mr.Ward is expected to acknowl- In their hunger to create artistic some project plans.

edge that those findings could be ac- statements to commemorate Sept. Rebuilding a church bloomberg news curate but that he hopes revamping 11, architects and politicians lost additionally, the authority has the plan could allow for more timely track of such basic matters as costs yet to reach an agreement to rebuild at Ground Zero. Demolition of the as a $2 billion project is now $1 bil- completion dates. It’s believed he and the complications of building St. Nicholas Greek Orthodox tower was halted after a blaze there lion over budget. The design of the will outline as many as 20 issues that on a relatively small parcel that has a Church,which was on agency prop- last August killed two firefighters. soaring structure has been widely must be addressed before new tar- train running through it,experts say. erty and destroyed on Sept. 11. The work was supposed to be fin- praised, but city leaders say it is sim- gets can be set. The matters include Kathryn Wylde, president of the Another difficulty is the failure to ished by the end of this year, but ply too expensive.The Port Author- whether the lauded transit center Partnership for New York City,says: dismantle the former Deutsche Bank sources say the building won’t come ity is looking for a way to maintain can be built as designed by Santiago “The redevelopment turned into a building, which was irreparably down until next April at the earliest. the overall concept at a more afford- Calatrava and the problems of work- political process that had nothing to damaged. It must be torn down to Mr. Calatrava’s transit center is able price. ing around the No. 1 train. do with the practical, physical issues make way for a vehicle security cen- another major concern. Published High on Mr. Ward’s agenda will of the site.Those deadlines were just ter—critical for finishing structures reports say that what was envisioned COMMENTS? [email protected]

NYSE’s trading floor is as much a bask in the exchange’s prestige. low-cost providers have seized sig- draw for corporate leaders as a trip “Ringing the opening bell and nificant trading business from NYSE adding traders to Fenway Park or Wrigley Field is watching your stock trade on the NYSE, which used to handle more for baseball fans. floor below, that’s the pinnacle of than 80% of trades in its listed secu- Continued from Page 1 could make it easier for existing “What is the NYSE without the business success,” says David rities but now has less than 40%. steady exodus of traders. floor traders to make more money. floor and the opening bell?” says Richter, president of Hill Interna- Most of the remaining trades are “Like the song goes, Duncan has The remaining floor traders Chris Concannon, executive vice tional Inc., a New Jersey construc- routed over the NYSE’s computers; looked at life from both sides now,” could use the break, because events president for U.S. transaction serv- tion management firm that switched only 10% are sent to the floor. quips Thomas Caldwell, chairman at the NYSE have played out much ices at Nasdaq OMX Group Inc. its listing to the NYSE from Nasdaq That won’t do for an exchange of Caldwell Financial Ltd. and an as Mr. Niederauer predicted earlier “Without them, it’s an electronic earlier this year.“Nasdaq does a good whose identity is tied to its floor. So NYSE shareholder. this decade. Business dried up as in- exchange,exactly like we are and the job with its opening ceremony, but in mid-June, Mr. Niederauer’s staff The reason for the change in Mr. vestors began routing or- others they compete it’s held in a TV studio.” unveiled rule changes to help traders Niederauer’s thinking is pure eco- ders electronically, and against. You quickly con- who have been hurt by the automa- nomics.At a time when the NYSE is hundreds of traders were 1,000 clude that there’s a branding High fees tion he helped bring about. losing market share in trading, it rec- forced to abandon the Number of element” to what Mr. the pomp and circumstance pays The changes, which must be ap- ognizes that if it is to continue col- NYSE floor. The scene was NYSE floor Niederauer is doing. off big for the NYSE. Its 2,800 is- proved by the Securities and Ex- lecting fat fees from the companies so sad that last fall the ex- traders after An NYSE spokesman sues generated nearly $400 million change Commission, would let floor merger with listed on its exchange, it has to offer change cut the size of its his- American Stock said Mr. Niederauer was in listing revenue last year, about auctioneers called specialists trade a something no one else can—the tra- toric trading space in half to Exchange this unavailable for comment. 20% of the company’s total and broader array of securities and enable dition and spectacle of the floor. make the remaining brokers summer Marketing is something about 30% more than it produced them to trade when they please, seem less lonely. the NYSE understands five years ago.The exchange charges rather than when the market needs Adding to ranks But it seems that Mr. Nieder- better than most. To celebrate the its blue-chip companies up to their services. In return, specialists to repopulate the floor, Mr. auer, who succeeded John Thain as listing of a mining company whose $500,000 a year to list their shares, would lose some of their privileges to Niederauer’s exchange will com- the stock exchange’s chief executive logo was a lion, former Chief Exec- or more than five times the top rate see orders before other traders. plete its acquisition of the American last November, has grasped a key utive Richard Grasso brought a live pocketed by Nasdaq. That doesn’t “It’s a big move that shows how Stock Exchange later this summer fact of life about the NYSE’s floor: lion to help ring the opening bell. mean companies can’t get discounts. committed the exchange is to pro- and bring in 200 traders. The ranks It’s his best marketing tool. At a Supermodel Gisele Bündchen ap- Mr. Richter says his firm is paying ducing a better floor business mod- of floor traders, down more than time when exchanges around the peared when a Brazilian brewery NYSE about the same listing fee as el,” says Miranda Mizen, a senior 50% in recent years to about 800, world have shut down their animat- was listed. The stunts have been it paid Nasdaq. consultant at the Tabb Group. should rise to 1,000. Earlier in June, ed floors and offer similar varieties toned down, but corporate leaders The revenue is increasingly im- the exchange proposed rules that of drab trading technology, the remain eager to join the fun—and portant because Nasdaq and other COMMENTS? [email protected]

new owner would have been forced complex remain affordable. Many build as many as 1,000 additional af- to raise rents. In drawing up their have ties to the community,including fordable housing units. Starrett bids in works proposals,the bidders must factor in Omni, which owns 800 units there, While several factors make a the agreement to keep rents low at and the church coalition,which is led high offer unlikely, there are some Continued from Page 1 wiped out by a recent agreement be- all 5,881 units, the tight credit mar- by an influential local pastor. competing forces that could drive up nonprofits,developers and manage- tween government and owner Star- ket, and falling real estate prices. the price. First, because tenant pay- ment companies. rett City Associates that will keep “It’s a much different deal now,” Homestretch ments will be supplemented by gov- “Starrett City should be in the the complex affordable. says Eric Michael Anton, executive in the weeks following the July 8 ernment subsidies, the new owner ownership of a bona fide, strong “A lot of the bids are going to managing director of Eastern Con- deadline, Starrett City Associates will collect market-rate rents on nonprofit entity that has experience have nonprofit partners with them,” solidated, a real estate investment will narrow the field to two or three 60% of the apartments.The guaran- running and owning similar proper- says Eugene Schneur, a principal at services firm. “I can’t tell you exact- finalists. Housing advocate NY tee of higher income should make it ties,” says Ghebre Selassie Mehre- Omni. “That seems to be the way ly what it will trade for,but my guess Acorn,which fought to keep Starrett easier to gain financing in a tough teab, chief executive of The NHP this will get done.” is it will be a big discount from that City affordable, has said that it will credit market. Second, although Foundation. A few well-known developers, $1.3 billion.” watch the process closely to make bidders have downplayed the value The affordable-housing group, including Apollo Real Estate Advi- To be eligible to bid, a group has sure that any potential owner has a of the vacant land, there is the po- which bid for Starrett City before,is sors, are joining bidding teams in to demonstrate to Recap Advisors, track record of promoting low- and tential for future development. working around the clock to prepare secondary roles. Tishman Speyer, the real estate firm managing the sale moderate-income housing. Priscilla Almodovar,CEO of the a bid. Others readying bids include which previously bid for Starrett for Starrett City Associates, that it Once the finalists are chosen, the New York State Housing Finance Omni New York,run by former Met City, will not make an offer. has experience managing large af- owner will consult with local, state Agency, says the ultimate price will Mo Vaughn, and a coalition led by fordable-housing projects and that and federal officials to select a winner. depend on the assumptions that bid- the Christian Cultural Center, a lo- Whole new ballgame it can access enough capital. The prize is a 46-tower complex ders make about development rights cal church with 29,000 members. bids are expected to range from More than 20 organizations that that sprawls across 140 acres near Ja- and operating expenses,and their cre- Big names in real estate appear to $600 million to $1 billion, far less meet the criteria have been granted maica Bay in Brooklyn.The proper- ativity in structuring the financing. be taking a backseat to groups with than the $1.3 billion offered by access to an online document room ty includes retail space, a power “That’s going to be how these bidders experience in affordable housing. Clipper Equities last year. That bid with property records, rent rolls and plant, a sports center, office space, distinguish themselves,” she says. That’s because the potential to reap was rejected by state and federal of- terms of the memorandum of under- parking garages and vacant land— huge profits by raising rents was ficials because it was so high that the standing which mandates that the where many of the bidders hope to COMMENTS? [email protected]

8 | Crain’s New York Business | June 30, 2008 Project2 4/23/08 12:33 PM Page 1

Crain Titles Recognized EExcellenceforEEditEditorialil

The Society of American Business Editors and Writers (SABEW) recently announced the winners in its 13th annual Best in Business Journalism contest. Several Crain publications and journalists were honored, including:

Overall Excellence – Weekly Business Newspapers Overall Excellence – Mid-sized Web Sites Online Excellence – Audio Visual Reports, Hoag Levins

Overall Excellence – Small Web Sites Online Excellence – Breaking News, Steve Daniels Online Excellence – Breaking News, Albert Gallun

Business News Reporting – Breaking News, Weekly Publications, Brent Snavely

Overall Excellence - Weekly Business Newspapers Business News Reporting – Columns, Greg David

Overall Excellence - Weekly Business Newspapers Business News Reporting –Breaking News, Andrew Osterland, Marine Cole, Matthew Quinn, Nicholas Rummell and Frank Byrt

We also commend Financial Week for bringing home two awards at the 54th annual Jesse H. Neal National Business Journalism Awards: Best News Coverage and Best Single Issue of a Newspaper/News Tabloid.

Publishing 32 Magazines and Newspapers Worldwide

Advertising Age American Coin-Op American Drycleaner American Laundry News Automobilwoche Automotive News Automotive News Europe AutoWeek BtoB Business Insurance Business Insurance Europe Creativity Crain’s Chicago Business Crain’s Cleveland Business Crain’s Detroit Business Crain’s Manchester Business Crain’s New York Business European Rubber Journal European Plastics News Financial Week InvestmentNews Modern Healthcare Pensions & Investments Plastics & Rubber Weekly Plastics News RCR Wireless News Rubber & Plastics News TelevisionWeek Tire Business Urethanes Technology International Waste News Workforce Management www.crain.com CNYB 06-30-08 A 10 6/26/2008 9:08 PM Page 1

VIEWPOINT In summer, city’s a hot town editor in chief Rance Crain publisher, vp Jill R. Kaplan he july fourth holiday this weekend away to deal with leaner times—allowing it to pare rather EDITORIAL signals the start of the summer vacation than slash spending. Kudos to Michael Bloomberg and editor Greg David managing editor Robert Hordt season. In the spirit of relaxation, here are Speaker Christine Quinn.The problem is that the cushion is deputy managing editors Valerie Block, five reasons to kick back and enjoy the eroding as the economy falters, and the 2010 budget will Erik Ipsen contributing editors summer and not worry too much about bring much tougher choices. Frederick P. Gabriel Jr., Elizabeth MacBride the dark clouds forming over the The Legislature has gone home, thank goodness. No one columnist Alair Townsend senior reporters Theresa Agovino, economic sky. wants to hear another Aaron Elstein, Erik Engquist, Lisa Fickenscher, The city is still clogged with tourists. Many vacation accounting of the Matthew Flamm, Samantha Marshall, destinations are hurting this summer, but there is no sign of Miriam Kreinin Souccar T The city is scandals that shook the reporters Barbara Benson, Amanda Fung, a slowdown in New York. Occupancy rates for the first four state capital this year or Daniel Massey, Adrianne Pasquarelli, benefiting from Hilary Potkewitz, Gale Scott, Matthew Sollars months of the year were at record levels, and summer the reckless budget that restaurant critic Bob Lape bookings appear solid.That may be because the weak dollar increased spending art director Steven Krupinski $4.6 billion that deputy art directors Carolyn McClain, continues to draw international visitors, and they are dramatically even as tax Daniel Mednick offsetting the loss of domestic travelers.Tourism is the city’s it socked away revenues fell.The best staff photographer Buck Ennis copy desk chief Wendy Zuckerman second-most-important industry in the private sector, that can be said is that copy editors Michele Arboit, responsible for 200,000-plus jobs. It can’t replace Wall so little was Thaddeus Rutkowski research editor Denise Southwood Street, of course, but it can help to cushion the city’s fall. accomplished in the www.crainsnewyork.com There will be enough power to keep New Yorkers cool. just-ended Legislative web producers Kira Bindrim, Elisabeth Butler Cordova Consolidated Edison projects that peak demand will reach session that little harm was done. Of course, that means that 13,775 megawatts this year and says there will be enough juice no progress was made on a list of pressing needs, ranging EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 for everyone. It has also spent almost $2 billion in upgrades, a from siting power plants to controlling soaring medical editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0259 step toward avoiding a blackout like the one that crippled malpractice rates. Maybe after the November election, there Cable craincom nyk parts of Queens two years ago.The utility is also better will be energy for tackling those issues. Fax 212.210.0499 prepared to assess and cope with any service interruptions. Entire contents ©copyright 2008 Crain It will be a great summer to stay in New York. Baseball’s Communications Inc. All rights reserved. This good news won’t last forever, though.The city needs to ®CityBusiness is a registered trademark of MCP All-Star game comes to New York, and the Mets and Inc., used under license agreement. restrain soaring demand more effectively or add generation Yankees teams should be in contention, at least until Labor TO SUBSCRIBE: capacity within the five boroughs. Day. Broadway sales have weakened slightly, so it is even Call 888.909.9111; fax 313.446.6777. The city’s budget is, all and all, in good shape. $3.00 a copy, $59.79 one year, $109.79 two years. At the possible to get a ticket to most shows. Restaurants have seen www.crainsnewyork.com moment, the City Council and the mayor are debating how a decline in their business, so it’s the perfect time to eat out. ADVERTISING AND MARKETING to finalize the 2009 budget.They are split over whether to And check out the list of other possibilities in the Business advertising director Jeff Adler restore cuts in education and raise property taxes by about $1 senior account manager Lives section this week. William E. Squitieri billion.The decisions are more important for next year.This Enjoy the summer.There will be plenty to worry about account executives year, the city is benefiting from $4.6 billion that it socked Andrew Carlin, Robert Christiaanse, Irene Irvill, come Labor Day. Courtney McCombs western account manager Ellen Mazen (Los Angeles) 323.370.2477 LETTERS TO THE EDITOR sales manager, classified print & online John Gallagher newsletter product manager Catherine Evans Gittens sales coordinator, print & online Lulé Haznedari Choosing a buildings commissioner sales coordinator Anita Perrino credit Pat Grondziak 313.446.6082 marketing director Amy Crossman PROFESSIONAL CRED Vice president for architect as deputy commissioner. marketing manager Jill H. Bottomley A NECESSITY public outreach, edward j. malloy marketing coordinator Jenny Mashberg AIA NY Chapter President circulation manager Andrea Richardson we wholeheartedly agree with Building and Construction Trades assistant circulation manager BROADENING Rosalie Ford the June 16 editorial, “Solving the CANDIDATE RANKS Council construction crisis,” that there’s general manager, interactive much that is really wrong with our crain’s june 16 editorial louis j. coletti Marc Minardo construction processes. But we are was a valid and timely Chief executive NEW YORK PRODUCTION dismayed that Crain’s takes that critique of the city’s Building Trades Employers’ production and pre-press director view while simultaneously current process of Association Michael Corsi advertising production manager

supporting the position that it isn’t bloomberg news selecting a Department Marilyn DeMilta important for the next buildings TWO FATAL crane collapses in Manhattan this year have of Buildings steven spinola commissioner to be a licensed roiled the Department of Buildings. commissioner. The President PUBLISHED BY CRAIN COMMUNICATIONS INC. professional engineer or registered mayor should not be Real Estate Board of New York chairman Keith E. Crain architect. crippled by archaic laws president Rance Crain We oppose the proposal to A license means that the requiring that the commissioner secretary Merrilee Crain JOB ONLY ONE PART treasurer Mary Kay Crain amend the City Charter to remove professional who holds it has gone be a licensed architect or engineer. POLITICAL SKILL executive vp, operations William Morrow the requirement that the through a rigorous program of It is clear that the senior vp, group publisher Gloria Scoby commissioner hold a professional education, practical experience, commissioner needs knowledge of to manage any government group vp, technology, circulation, license as an architect or engineer examination and continuing the industry as well as a wide range agency, the leader needs political manufacturing Robert C. Adams for several reasons: education.They are personally of management skills—to help skills to manage politicians like the vice president/production & An architecture or engineering liable for their work! continue the modernization of the mayor, and the professional and manufacturing David Kamis chief information officer Paul Dalpiaz license is the responsibility to Appointing a supermanager DOB, weed out corruption, technical skills to manage the corporate circulation director apply the art and science of design will not change the commissioner’s manage an operating budget in agency. Patrick Sheposh and construction to buildings, legal responsibilities under the excess of $80 million and The idea that only political founder G.D. Crain Jr. (1885-1973) structures and the spaces around zoning law or building code. ultimately help make building skills are needed is wrong and is chairman Mrs. G.D. Crain Jr. (1911-1996) them while safeguarding life, anthony p. schirripa, safer in New York. In addition, the one of the problems with most health, property and the public aia, iida mayor’s proposed change would public agencies today. welfare. Chief executive, Mancini Duffy maintain a certified engineer or craig goodall, p.e.

10 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 11 6/26/2008 7:54 PM Page 1

Companies large and small rely on Amper, and some years ago at which he appeared you can too. during one of the bruising fights in Albany about rent control in the city. He had dug in his heels to loosen the rigid system and, as a result, nothing was moving in Albany. He gleefully crowed that it was OK with him if meetings ran late into the night and the legislative session dragged on, because he lived close enough to Albany that he could get home easily. The crowd loved it. His intransigence carried the day. I applauded. At Crain’s editorial board meet- ings, the senator’s staff would listen in awkward silence as he spoke freely about issues and politics. The staff of our political newsletter, The Insider,found nuggets to fill its quo- ta for a week. That same blunt talk also re- vealed the dark side of the thirst to keep power in the Senate.Mr.Bruno freely acknowledged that he turned john h.john howard to the unions and their money be- cause businesses’ giving couldn’t or wouldn’t match labor’s. He is said to have asked the busi- ness community to ante up more Tip of the hat than $15 million for this year’s elec- “Seeing Beyond the Numbers...” tions. This was government for sale www.amper-pc.com to the highest bidder. To hold on to Republican seats to Bruno of ’90s in the Senate, he took all he could get from the unions and carried ’ve had a running argument with Crain’seditor Greg their water to the detriment of tax- payers. David about whether it matters if the Republicans keep It hasn’t worked. The Republi- control of the state Senate.He says there’s no longer any cans’ majority in the Senate has de- difference between how the two parties legislate: They clined steadily to a two-seat margin both tax and spend too much.But he believes that Dem- now. Rebuilding will be difficult, given the growing power of the Iocratic control of both houses plus the governor’s seat might lead Working Families Party and its abil- to more responsible action. ity to invest heavily in targeted races. Many of Mr. Bruno’s col- I disagree. It’s true taling $1.6 billion when leagues are senior citizens,and three that the Republicans fully implemented.And are older than his 79 years.Their re- have lost their way. I wonder what became tirements will set off ferocious bat- They have become a of that Joe Bruno, who tles with uncertain outcomes. willing handmaiden to understood that the Mr. Bruno’s successor as major- labor interests,especial- cost of doing business in ity leader, Dean Skelos, is said to be ly public employee New York state made us more conservative on spending and unions, and have lost uncompetitive and was tax matters. We’ll see. I hope he is any sense of fiscal disci- forcing young people to like the Joe Bruno of the 1990s, es- pline or conservative leave in search of better pecially the one who cut taxes by core principles. futures. $1.6 billion and defied convention- But I remember ALAIR With Mr. Bruno’s al wisdom by effectively ending 1994, when the former TOWNSEND retirement, we’re losing rent control. That’s the one I’ll re- Senate majority leader, a pugnacious showman, member. Joe Bruno, teamed up someone whose candor with Democratic Assemblyman Joe was both appealing and repugnant. I COMMENTS? Morelle to push through tax cuts to- remember a Crain’s breakfast forum [email protected]

CRAIN’S ONLINE POLL SHOULD NEW YORK DROP ITS LAWSUIT AGAINST FORMER NYSE CHAIRMAN RICHARD GRASSO OVER HIS COMPENSATION? Number of respondents: 343 Yes, the pay Date of poll: June 25 might have been excessive, but the NYSE board No, despite the granted it .30% technicalities, $187.5 million was an 46% excessive amount for a . nonprofit to pay its Yes, this case chairman was always a .24% Spitzer vendetta to gain publicity bloomberg news For this week’s questions: Go to www.crainsnewyork.com/poll to have your say.

June 30, 2008 | Crain’s New York Business | 11 CNYB 06-30-08 A 12 6/26/2008 9:06 PM Page 1

Mr. Skelos’ strengths. At 60, he is also considerably younger than Mr. Bruno, 79, and decidedly more NO NEWS IS GOOD NEWS FOR BIZ THE INSIDER aggressive. BY ALBANY STANDARDS, the legislative session ended well for business “He goes gangbusters against interests: Little was accomplished, but most of the bills they opposed were by Erik Engquist and Matthew Sollars opponents,” says one Spitzer killed. A few passed, though. administration veteran who battled “BAD” BUSINESS BILLS THAT DIED the Republican Senate last year. G Paid family leave. At the beginning of the session, this seemed certain “His strategy is, it’s total war. to pass, and it was alive until the final day of the session, says Heather Skelos was the guy who said, ‘No Briccetti, vice president of government affairs at the Business Council of New The tasks ahead more deals with Eliot Spitzer.Let’s York State. “But it may rear its ugly head later in the summer,” she warns. go to war.’ ” G A prevailing wage requirement for projects with Industrial Development for majority leader Authority subsidies. Developers said it Lending credibility would have doomed upstate projects. he new republican leader G A greenhouse gas emissions cap. of the state Senate is expect- for 2 senators Strongly opposed by industry, it died in the Senate. Had it passed, the Assembly would ed to reinvigorate the GOP sens. charles schumer and Hillary T have approved it as well. campaign for the crucial November Clinton survived a political Web site’s hunt for more senators who Most ‘bad’ bills didn’t pass. “BAD” BUSINESS BILLS THAT PASSED election, in part by emphasizing G received favorable mortgages from A measure requiring utilities to have support for a property tax cap. troubled lender Countrywide. call centers in every region they serve. The most immediate task for News of deals for two powerful G A requirement that utilities pay prevailing wage for street-cutting work. zumapress Sen. Dean Skelos (left), named senators has sparked controversy in MIXED RESULTS Joseph Washington, D.C. G Brownfields reform. State subsidies will be capped, and will no longer Senate majority leader last week after longtime leader be proportional to the cost of an entire project. A 90-day suspension of the Bruno Mr. Schumer’s office told suddenly announced he would not seek re-election, is Politico.com that his wife, CUNY program was lifted, allowing projects in the pipeline to proceed. But the fix preserving the party’s slim majority in the state Senate, which administrator Iris Weinshall, got their allows the state to continue nixing subsidies for brownfield projects that Democrats have trimmed to 32-30. Brooklyn co-op mortgage from would proceed without them. G In the short term, political experts expect few changes in Independence Bank Corp. Mrs. A foreclosure bill. Lenders were glad that a one-year moratorium on Clinton has a Citibank mortgage foreclosures was yanked, but were not thrilled with regulations requiring that Mr. Bruno’s positions, including support for pork-barrel on her Chappaqua mansion and borrowers be given 90 days notice and ordering conferences overseen by spending and opposition to gay marriage. paid off the Citibank loan on her judges. Washington house. G Health care changes. A bill to impose modest restrictions on health “He’ll probably continue with upstate. Even in New York City, care plans was derailed at the last moment. Efforts to cut malpractice the game plan,” says Jennifer Saul polls show residents feel strongly insurance rates through reform foundered. A ban on gifts to doctors by Yaffa, chairwoman of the that property taxes are too high. Queens seat pharmaceutical companies and a bill to require disclosure of such gifts failed. Republican Party in Manhattan. He may be helped by an up for grabs G An Industrial and Commercial Incentive Program reform that eliminated “We’re five months away from the immediate boost to Republican tax breaks for most retail developments and all utilities’ projects in New York election.” senators’ fundraising. “Everyone is now that Democrat Hiram City passed, but at least ICIP and the Relocation and Employment Assistance Monserrate Insiders do expect Mr. Skelos, of going to try to get on the new is a shoo-in for the state Program were renewed. Rockville Centre, L.I., to push leader’s good side” by making a Senate, jockeying has begun for his

harder for an agreement to address contribution, a GOP consultant City Council seat. buck ennis rising property taxes, which is by says. “People who had given Julissa Ferraras, Mr. Monserrate’s far the top concern on his home $25,000, now they’ll give $50,000.” chief of staff, intends to run. rumored to be considering a run, incumbent Martin Connor’s turf of Long Island as well as Fundraising is considered one of Assemblyman José Peralta is too, although he lives just outside challenger, Daniel Squadron,is the Corona/East Elmhurst, finding his endorsement by Sen. Queens, district. Calls to Mr. Charles Schumer to be a liability with Peralta were not returned. gay and lesbian Democratic clubs. Mr. Monserrate’s election was Many of their members have assured when incumbent Sen. John not forgiven Mr. Schumer for Sabini was appointed to the Racing voting for the Defense of Marriage and Wagering Board. Act in 1996. (Mr. Squadron, in high school at the time, later became an aide to Mr. Schumer.) Endorsement Mr. Connor has won all three Is your business a disadvantage gay and lesbian club endorsements so far. One more, the Stonewall in the highest-profile state Democratic Club of New York Senate primary this year, City, will endorse in July. recession proof? CAMPAIGN WATCH 2008 McCain, Obama focus on NJ, NY THE TWO PRESIDENTIAL CANDIDATES are ramping up their New York area campaigns. ADP TotalSource® gives you the HR Solutions that Republican John McCain is clearly setting his sights on New Jersey. Regional coordinator Bill Stepien, previously with Rudy Giuliani’s campaign help you rise above any economic challenge. in the Garden State, opened the campaign’s office in Woodbridge. Earlier this month, he hired Dominic Fiorili and Scott Fitzgerald as deputy campaign director and volunteer coordinator, respectively. They had been aides for New Jersey Republicans. There is one non-Garden Stater. Peter Feldman, the www.adptotalsource.com/NY 800-HIRE-ADP regional communications director, previously handled press for former Ohio Sen. Mike DeWine. Meanwhile, Sen. Barack Obama’s campaign says it will reopen its New York headquarters and announce state campaign staff in the coming weeks. The campaign closed its New York City offices following the Feb. 5 primary. Staffers for the Northeast region have been appointed. Eureka Gilkey, a former national training director with Emily’s List, will be the campaign’s The ADP logo is a registered trademark of ADP of North America, Inc. TotalSource is a registered trademark of ADP, Inc. regional director. Gannet Tseggai, who worked for Massachusetts Sen. Ted ADP Totalsource Bottom Line. Your Team Just Got Better is a service mark of ADP, Inc. Kennedy, will handle press in the region. bloomberg news

12 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 13 6/26/2008 7:56 PM Page 1

NEIGHBORHOOD JOURNAL

tate firm Greiner-Maltz. “They’re Hotel glut seen along the Gowanus not doing a walk-in business.” On the street there are no signs of a growing jewelry industry. enough hotels,” says Mr. Freeman. elry makers have set up shop in a 1 turers in that area anymore.” The area boasts security systems Councilman wants —matthew sollars million-square-foot former Macy’s Jacmel fabricates gold and silver that are equal to those in the Dia- to halt development warehouse and in a 600,000 square- jewelry in 100,000 square feet of mond District, but the jewelers still foot former Gimbels warehouse next space in the former Macy’s ware- like to keep a low profile. activity; 269 rooms New Queens setting door. Most have come from West house.About 60% of the tenants next “They don’t like to have their for jewelry makers 47th Street in Manhattan in search door are also jewelry makers, says presence here widely advertised,” already available of more space and lower rents. Josh Dolgin, vice president of Kal- says Dan Miner,vice president of the he hotel bubble in there’s a new gleam in Long Is- “On 47th Street [in Manhattan] mon Dolgin Affiliates, which owns Long Island City Business Develop- Brooklyn’s Gowanus land City, Queens. A two-block are the retail people,and upstairs are the former Gimbels warehouse. ment Corp. He estimates that the neighborhood—once area,between 47th and 48th avenues the people who trade diamonds,” Watch giant Tourneau gobbled up jewelry makers have been expanding the exclusive home of and 30th Street and 31st Place,is be- says Jack Rahmey, president of 41,000 square feet in that building. their local footprint at the rate of forlorn warehouses, coming a jewelry-making mecca. Jacmel Jewelers. “There are virtual- “There’s no retail trade there,” 10,000 to 50,000 square feet per year. Tchop shops and waste recyclers— In recent years,more than 30 jew- ly no large distributors or manufac- says John Maltz,president of real es- —hilary potkewitz continues to expand.This month,an unnamed hotel developer paid $1.4 million for a lot on Degraw Street. The project will be the eighth to come to the area since 2005. While this might be cause for celebration in some quarters, Councilman Bill de Blasio insists the time has come to let some air out of the balloon. Mr. de Blasio wants the city to ban further hotel development at least until the rezoning in the works can be completed. He believes the hotel craze threatens neighborhood manufacturing, the preservation of Email from Beijing to Broadway. which is an important goal of rezon- Works around the world. And around the block on America’s most reliable wireless network. With expanded coverage, we’re now available in even more destinations.

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June 30, 2008 | Crain’s New York Business | 13 CNYB 06-30-08 A 14 6/26/2008 9:04 PM Page 1

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

the fact that NFL Network games ECONOMIC SPOTLIGHT are available to relatively few fans. NYSE buys stake in Qatar market nyse euronext agreed to acquire a quarter of the Doha Securities Market in Qatar, just four months after Nasdaq Stock Market bought a one-third interest in the Dubai International Financial Exchange as part of its merger with OMX Group. Both U.S. exchanges are racing to go global. State sues CVS and Rite Aid

bloomberg news new york attorney general Andrew Cuomo is suing 4 Grasso charges dismissed CVS/pharmacy and Rite Aid Pharmacy for selling expired food, THE NEW YORK STATE COURT OF APPEALS upheld a lower- medicine and baby formula, even court ruling dismissing four of six counts brought by the after government warnings. Rite state attorney general against RICHARD GRASSO (above), Aid recently settled a similar suit the former chief of the NEW YORK STOCK EXCHANGE. The with New Jersey for $650,000. Economy Watch attorney general argued that Mr. Grasso’s $187.5 million pay package was exorbitant for a nonprofit to offer. The MasterCard paying NY area retail prices posted the biggest monthly gain since 3/05, due to steep ruling will make it more difficult for the state to reclaim AmEx $1.8 billion energy costs. The NYC jobless rate will rise as more layoffs hit the books. some of Mr. Grasso’s compensation. APRIL ’08 MAY ’08 COMPARISON mastercard inc. will pay 1 American Express Co. as much as NY area inflation change +0.3% +1.0% +4.0% $1.8 billion to settle an antitrust NYC unemployment rate 4.7% 5.2% 5.5%2 NYC aims to test 72 cents higher than analysts’ suit that charged MasterCard and NYC employment change +1,200 -300 +36,7003 consensus prediction. Visa Inc. with conspiring to stifle AmEx’s network. Visa already 1-NY area inflation change for the latest 12-month period. 2-U.S. unemployment rate for the lat- Bronxites for HIV est month. 3-NYC employment change for the latest 12-month period. agreed to pay AmEx $2.7 billion. city health commissioner Dr. NBC planning AmEx will use the funds to buoy Thomas Frieden launched a three- Olympics on the Go its deteriorating business as more NYC Hotel Stats Broadway Stats year effort to test every adult living cardholders default. in the Bronx for HIV.The bor- nbc partnered with content Average occupancy and room rate Attendance and gross rose in the ough has the city’s highest rate of delivery service Wavexpress to climbed in April, PKF Consulting week ended 6/15, says The League AIDS-related deaths, partly introduce Olympics on the Go, a AA cuts flights, reports, continuing to rebound after of American Theatres and Producers. because residents wait too long to free download service that will tests Net service the typical drop at the start of the For the first three weeks of the sea- get tested for the virus. Manhattan track fans’ favorite sports and year. Year-to-date averages topped son, both measures were down more has the city’s highest incidence of allow them to watch the events at american airlines will cut five those for the same period in ’07. than 7% vs. the same period in ’07. people with HIV. their convenience. Since Beijing is daily AA flights and 37 daily 12 hours ahead of New York, American Eagle flights from La many events will take place while Guardia Airport in November to Brokaw to host Americans are asleep. Users will reduce fuel costs. Meanwhile, it Meet the Press need Microsoft Windows Vista to tested Internet service on a flight use the service. between John F. Kennedy Inter- tom brokaw (below) agreed to national Airport to Los Angeles replace Tim Russert as moderator International Airport.The $13- of NBC’s City promises per-flight service rolls out to Meet the Press tighter crane regs cross-country flights next month. through the November new york city officials told elections. Mr. Congress that they are tightening Imus raises Russert died requirements on tower construc- racial ire again after suffering tion cranes after two accidents a heart attack killed nine people in Manhattan radio personality Don Imus Capital IQ’s Weekly Deals Report in NBC’s this year. Robert LiMandri, the (below) said he was trying to Washington city’s acting Buildings Commis- “make a sarcastic point” with his TRANSACTION SIZE bureau, and bloomberg news sioner, testified that the city will remarks about the Dallas Cow- COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE the network’s succession plans impose tougher maintenance and boys’ Adam “Pacman” Jones. Mr. Medis Technologies Ltd. $29.0 Not disclosed GCI became the subject of hot inspection requirements. Imus, who returned to the air only Manhattan speculation. Mr. Brokaw, 68, after promising to make amends Harris & Harris Group Inc. $15.7 Not disclosed GCI insists that the move is temporary. for earlier racially charged com- Manhattan ESPN may save ments, said he was misunderstood. Hanger Network Inc. $10.0 ABS Ventures, Sigma Partners, GCI —from staff reports and Kodiak Venture Partners NFL network Citi downgraded bloomberg news reports TxVia Inc. $8.5 Village Ventures, Espírito Santo GCI Manhattan Tech Ventures—Sociedade de Capital on expected losses the national football de Risco SA, High Peaks Venture Partners League’s controversial NFL Answers Corp. $6.0 Redpoint Ventures GCI goldman sachs group inc. Network, which has been unable Manhattan analyst William Tanona added to win wide distribution, is re- CAD Sciences $5.0 icad Inc. SB M&A Citigroup Inc. to his “conviction portedly in talks with Walt Disney White Plains sell” list, saying the bank is poised Co.’s ESPN cable sports network Selected deals announced during the week of June 15 for companies headquartered in metro New to write down $8.9 billion in the to form a partnership.The move, York. GCI: Growth capital investment represents new money invested in a company for a minority second quarter. Mr.Tanona said which would mark the end of the stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. Citi will likely post a second- league’s effort to build its own zumapress paul grange paul quarter loss of 75 cents per share, network, would quell unrest over

14 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 15 6/26/2008 1:44 PM Page 1

DIVERSITY INSIDE Minority-owned companies in the New York area, ranked by projected 2008 revenues PAGE 19 Women-owned companies in the NY area, ranked by projected revenues PAGE 21

AYANA WALKER, who works for HBO, is a mentor to a high school junior at Frederick Douglass Academy.

AfterAfter decades,decades, david neff david littlelittle progressprogress TOWARD DIVERSITY NEW EFFORTS In the past two decades,diversity ini- on Human Rights for not employing Corporations still mostly white, tiatives have proliferated at New York enough minorities. The commission’s GLOBAL companies. A few efforts, like HBO’s, 2006 report showed, for example, that PAGE 16 have permeated the corporate culture in a city that is 25% black, only 2.5% of male; initiatives fall short and changed the face of the workforce. employees making over $100,000 at the Ms. Walker has been promoted twice 16 agencies examined are black. BY SHIRA BOSS-BICAK since she was hired,and Ms.Fischel says In the securities industry,minorities 95% of promotions at HBO draw on a make up about 22% of the workforce bo hired Ayana Walker as an intern when she diverse list of candidates. but are clustered in the lower ranks, ac- was a senior at Frederick Douglass Academy cording to a November 2007 survey by Behind the curve in Harlem, where the cable channel runs a the Securities Industry and Financial RELIGION but most new york companies con- Markets Association. Nine of the 31 PAGE 17 mentoring program for inner-city teens. She tinue to struggle. Decades after affir- firms polled are headquartered in New says that while her peers were getting summer mative action and well behind the mul- York. The report notes that “from the jobs at The Gap or in supermarkets, she got valuable ticultural marketing curve, corporate associate level onward, representation H workforces are still disproportionately of women and people of color decreas- corporate exposure. Along the way, she worked for and was white and male. es at each higher level across the survey impressed by higher-ups who were also black women. “A company with a diversity initia- organizations.” The company kept in contact with Ms. Walker, and she tive in place feels it is doing something A third of law firms in New York worked for HBO again for two summers while in college at about it,”says Jeff Greene,vice president don’t have any black or Hispanic part- of the diversity practice at recruiter Bat- ners, according to a project at Stanford SUNY Albany. After graduating in 2002, she landed a job in talia Winston International. “But [the Law School that grades law firms based HBO’s marketing department. Now she herself is a mentor to initiatives] just haven’t worked.” on their numbers of women, minority a high school junior at Frederick Douglass Academy. In New York, which prides itself on and gay lawyers. Cleary Gottlieb Steen Diversity “doesn’t happen naturally,” says Shelley Fischel, ethnic diversity, major employers are & Hamilton, with 48% women, 27% bringing up the rear. Advertising agen- minorities and 4% self-identified gay SMALL HBO’s executive vice president for human resources. “My re- cies here are being investigated for the and lesbian attorneys, is the only firm BUSINESS cruiters work hard at it and know anything else is not acceptable.” second time by the city’s Commission See LITTLE PROGRESS on Page 16 PAGE 18 istockphotos

June 30, 2008 | Crain’s New York Business | 15 CNYB 06-30-08 A 16 6/26/2008 1:45 PM Page 1

REPORT DIVERSITY

A GOOD SCORE Companies look abroad At Cleary Gottlieb, the only % PARTNERS % ASSOCIATES Manhattan firm to score an A- on diversity in a FEMALE Hire internationally to win business where our clients are,” says Mr. study by Stanford Law 17.6% 48.8% Sanchez, and need employees who School students, 34% of HISPANIC “speak their language and under- the partners are women, 7.1% 8.3% in global markets; effort needed at home? minorities and/or self- stand their culture.” Two-thirds of identified as LGBT. BLACK born and raised in the countries IBM’s employees are stationed out- 3.5% 8.7% BY STEVE GARMHAUSEN where they are doing business,these side the United States, and two- Source: Building a Better Legal Pro- LGBT 3.5% 4.5% companies diversify racially while thirds of its revenues are generated fession, 2007 report, http://better in the oil-rich Middle East, adding employees with the cultural overseas. legalprofession.org/leadership.php ASIAN 2.4% 12.8% Merrill Lynch & Co. has identified skills to win business in their home But global hiring has had positive a lucrative market of wealthy, entre- markets. ripple effects on domestic diversity. preneurial women who need their “Over the last five years or so, IBM recently held “lunch and learn” money managed. Many have inher- there has been a shift from domestic sessions at its chip design facility in Little progress ited money or own businesses such to global diversity,” says Alan Fishkill, N.Y., because the plant has as upscale boutiques, ac- Richter, president of been working with Indians and cording to Merrill. GLOBAL QED Consulting in Latin Americans abroad. The Indi- Continued from Page 15 needs to be reframed as a talent issue,” But local gender Manhattan. an employees in Fishkill lead presen- in the city to receive a top grade of says John Rice, founder and chief ex- norms make it difficult tations on Indian food, culture and A-. ecutive of Management Leadership for unrelated men to An imbalance? language, and Hispanic employees “People come in and aren’t pro- for Tomorrow, a nonprofit whose serve these women as fi- that’s good news for give Spanish lessons on-site. moted and aren’t staying,” says Car- mission is to increase the numbers of nancial advisers. So foreign employees.Some Companies say they have to go to ol Watson, president of Tangerine- African-Americans, Hispanics and Merrill is hiring women experts worry, however, the source to hire employees in for- Watson Inc.,a recruiting firm for the Native Americans in business. from Dubai and Saudi that the focus on hiring eign markets. About four years ago, advertising industry. “There’s a lack Strategies that work include execu- Arabia to drum up the 67% abroad may lessen atten- for example, Merrill began hiring of career development,coaching and tive coaching programs, mentoring business. PROPORTION tion to diversity efforts at university graduates in India rather mentoring—very little done.” and “career mapping,” which lays out “Merrill sees a unique of IBM home. than waiting for them to make their goals for advancement. employees who Making a commitment opportunity for [local] are stationed “They punch their way to the United States, Ms. Barry Local experts also champion the women to work in the fi- outside the tickets in China and In- says. a few new york companies are idea of putting executives from other nancial services busi- United States dia, and they feel pretty “There is a fierce war for talent,” making strides. Consolidated Edi- parts of the company at the diversity ness,” says Subha Barry, comfortable with them- says Peggy Hazard, managing di- son, J.P. Morgan Chase, and Veri- helm, perhaps rotationally. Assign- Merrill’s head of global selves,” says Jeff Greene, rector and head of global services for zon Communications have won ing non-minorities to lead diversity diversity and inclusion. vice president of the diversity prac- consulting firm Simmons Associ- awards or recognition for support- efforts is also key.Mr.Rice points out At companies like Merrill, “di- tice at Manhattan recruiting firm ates Inc., a New Hope, Pa., diversi- ing diversity. And online magazine that companies without a critical versity” is no longer a synonym for Battalia Winston International. ty training company with Man- DiversityInc recently ranked Merrill mass of minorities in the upper ranks “minority hiring.” New York’s Companies say it’s not an ei- hattan clients. “Companies are Lynch at No. 3 among its top 50 have to find a way to make diversity multinational companies are re- ther/or choice.Global hiring has in- catching on to the fact that you can’t companies,calling it “one of the only champions of non-minorities. defining diversity to reflect the race, creased at IBM Corp.in the last sev- be imperialist and just send a bunch brokerage firms that has made a Several local companies also see a religion and nationality of their in- eral years, according to Adalio of expats over there.” commitment to diversity.” solution in creating and developing a creasingly international staffs. By Sanchez, vice president for corpo- At many local companies, minori- better pipeline of diverse candidates, hiring and nurturing employees rate strategy. “We are physically COMMENTS? [email protected] ty retention rates are low,and manage- an effort that starts with reaching out ment ranks remain pale.Local experts to high school students. point to two major problems: unin- “Organizations are starting to spired diversity training, and policies brand and identify themselves”earli- that neglect promotion and retention. er to underrepresented groups, says Company diversity policies are Steve Pemberton, vice president of often designed around avoiding dis- operations, diversity and inclusion crimination lawsuits. That model for Monster Worldwide Inc. stresses mandatory diversity train- Pharmaceutical companies such ing sessions and the creation of as Pfizer Inc. are reaching out to “affinity” groups that are often little Hispanic teenagers with a scholar- more than window dressing. Em- ship program. Other companies are ployees suffer from diversity fatigue. widening the pool of candidates by “People have a knee-jerk reaction partnering with organizations that to diversity: ‘Oh no, another EEO serve diverse populations. thing I have to do,’ ” says Battalia To recruit more Hispanic engi- Winston’s Mr. Greene. “Once you neers, IBM Corp. recently staged a put the diversity label on any initia- Hispanic Summit conference for tive, it’s dead in the water.” corporate leaders, government offi- The other main feature of boiler- cials and community leaders. The plate diversity programs is the now company also taps a network of nearly ubiquitous chief diversity offi- partnerships with organizations in- cer. Segregating diversity functions cluding the American Indian Sci- can be counterproductive, though. ence and Engineering Society and HBO,for example,doesn’t have a di- the Chinese Institute of Engineers. versity officer. Instead, “a conscious- ness about diversity permeates every- Getting some help thing we do,”says HBO’s Ms.Fischel. diverse professional groups“give An even bigger obstacle to a di- us insight and connections and access verse workforce may be a failure to to a talent pool that helps us at every nurture and promote minority hires. level of recruitment,” says Ron “A lot of black and Latino profes- Glover, vice president for diversity sionals end up leaving to start their and workforce programs at IBM. own businesses in part because they Management Leadership for To- don’t see they have a shot at rising,” morrow is also stepping up to ad- says Carmen Van Kerckhove, co- dress the problem of minority reten- founder and president of New De- tion. This fall, the organization will mographic, a diversity consultancy launch a program that provides five in Manhattan. years of outside mentoring and Only companies that integrate training to new minority hires. minority hiring and promotion into “It will help people stay on the the overall corporate culture,as HBO fast track,” Mr. Rice says. has done, will succeed at diversifying their workforces. “The whole issue COMMENTS? [email protected]

16 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 17 6/26/2008 1:46 PM Page 1

REPORT DIVERSITY

managing director of DB Marketing Technologies Offices make room for prayer in Manhattan, throws RELIGION the company’s holiday party at Le Carne Grille, Commission, a 32.5% increase from looks like the United Nations— have to cover for them. a kosher restaurant that Affinity groups, the 1,709 charges filed in 1997. Muslims, Orthodox Jews, a church They just need to make 12% organizes optional meat- PROPORTION dress codes, flexible “It’s a balancing act,” says Mi- minister and a Jehovah’s Witness. up the time.” of the U.S. and dairy-free menus. chelle Phillips, a partner at Jackson American Express is population that is “Sure,it might be more schedules cater to Lewis, a labor law firm.“Employers Covering for others allowing employees to set foreign-born difficult to find a kosher employees of all faiths need to make good-faith judgments “as long as my employees work a up religious affinity place and plan a menu, about what is reasonable for their legitimate 40-hour week, that’s groups. Meetings may but the whole point of employees and what causes an un- fine,”says Mr.Schwartz.“When my include guest speakers, daily prayers having a holiday party is to show your BY TINA TRASTER due burden for the company.” Muslim workers want to break their or the organization of community employees that you respect and ap- Robert S. Schwartz, president of Ramadan fast at home,I let them go events. preciate them,” says Ms. Bers. when l’oréal usa’s 150,000- Eneslow Pedorthic Enterprises Inc. even though the store may be open To accommodate Orthodox Jews square-foot building is complete in Manhattan, has a staff of 42 that for another two hours and others and Hindus, Joanna Smith Bers, COMMENTS? [email protected] next January, it will include a 300- square-foot room for religious prayer or quiet contemplation. That’s be- cause the company’s employees, like many in New York and beyond, have let their employer know they don’t check religious rituals at the door when they arrive at work. “A prayerorspaceforretreatis be- coming an important amenity in the workplace,”says Paul Eagle,manag- ing director of the New York office of Perkins & Will, which designed the New Jersey back offices for the Manhattan-based cosmeticscompa- ny.The prayer room will have couch- es, soft lighting and an open area where prayer mats can be rolled out. As New York City’s workforce becomes increasingly diverse, com- panies are grappling with ways to adapt the workplace to employees of all faiths. Above and beyond jug- gling holiday schedules to accom- modate Muslims, Jews and Chris- tians, employers are converting conference rooms to prayer spaces, allowing employees to establish re- ligious affinity groups, catering to Group, Inc. Photos: John Pinderhughes Inc. Ad: UniWorld © 2008 Consolidated Edison Company of New York, food and dress-code needs, and of- fering greater latitude in scheduling. Tolerance is key “religion has entered the public arena,” says Georgette Bennett, president of the Tannenbaum Cen- ter for Interreligious Understand- ing.Tolerance “has become a litmus test for holding public office.Work- ers are taking their cues from poli- tics. They feel more empowered to assert their rights.” While smaller companies are handling religious diversity more in- formally,corporations like American Express, IBM and J.P. Morgan Chase are setting policies that go be- yond Title VII regulations that pro- tect religious equality.At a time when 12% of the U.S.population is foreign- Meredith McRoberts, President & CEO, McRoberts Protective Agency, Inc.; Jennifer Jackson, President, T&T Janitorial Services, Inc.; born, attention to religious diversity Danielle Buenaventura, President, WJL Equities Corp. (contractor); Helen Kim, President, Amco Cleaners can pay off in higher productivity, better morale and a greater ability to attract and retain employees. What Ceiling? J.P. Morgan Chase accommo- dates female employees who want to Women business-owners who partner with the Con Edison Supplier Diversity Program routinely shatter wear the traditional hijab head cov- ering at work. IBM has been widely glass ceilings. And any other barriers that get in their way. Whatever the business – from construction to praised for letting Muslim women cleaning services – women entrepreneurs throughout the New York region have turned their partnerships employees have two identification with Con Edison into economic opportunity for themselves, their employees and their communities. cards; one taken without the hijab is checked only by female security of- ficers. IBM also provides a wash- Find out how powerful a partnership can be. Con Edison. ON IT. room where Muslim employees can wash their feet for daily prayers. Catering to religious differences Visit www.conEd.com/supplierdiversity or call Joy Crichlow, Director, may also keep legal battles at bay. In Con Edison Supplier Diversity Program at 212-460-3076. www.conEd.com 2007, employees filed 2,880 reli- gious discrimination claims with the Equal Employment Opportunity

June 30, 2008 | Crain’s New York Business | 17 CNYB 06-30-08 A 18 6/26/2008 1:48 PM Page 1

REPORT DIVERSITY

Chinese-American, opened Import Food Network in Fresh Meadows, Ownership breaks glass ceiling Queens, in 2000, he leveraged his business contacts across Asia. The thriving business, which corporate cog and small business tan.“Corporate diversi- imports everything from Corporate alumni owner, minorities are increasingly ty concentrates on the canned pineapples to oys- use skills to start making the same decision as Ms. lower level, and they ter sauce, now has 10 em- Harris, who is African-American. don’t see it [happening] ployees. Its projected businesses; no limit Diversity continues to elude the cor- in the executive ranks.” 2008 revenues are $10 on advancement porate world, but New York’s entre- According to the million. preneurial landscape is proliferating U.S. Small Business Today, many minority with minority-owned businesses. Administration, small owners are alumni of the BY CARA S. TRAGER business ownership is corporate world. “They More popular option increasingly fertile may have 10 years at Time as a child, Kysha Harris sold no longer just the domain of im- ground for local mi- Warner or Kraft Foods in homemade blueberry tarts to fami- migrants with limited education norities. Last year Hispanic marketing and lies vacationing on Fire Island. In and scant English-language skills, alone, the SBA’s New now with their great back- college, she cooked din- small business owner- York District Office grounds, they want to be ner for gangs of cafeteria- ship is gaining ground as saw loans to African- consultants,” says Ali weary friends. But when an option for minorities American business Curi, president of His- KYSHA HARRIS she graduated from the like Ms. Harris, who are owners increase 15%, launchedlaunched Schop,Schop, aa food-food- panic Professionals Net- Wharton School of Busi- using the technical, fi- to 450.Loans to Asian- shopping service, from working Group. Some ness in 1993, she chose SMALL nancial and marketing American owners her home in Harlem. 20% of the group’s 1,500 the safe route of corpo- skills they honed in the BUSINESS spiked 19%, to 1,799, roger hagadone members own their own rate employment over the corporate world to be- and loans to Hispanic business. allure of owning her own come their own bosses. entrepreneurs rose 5%, to 655. vertising, which links corporations Of course,entrepreneurship offers food business. 450 “A lot of times,people Many minority owners are still to the Asian-American market- minorities no guarantee of enduring That changed five LOANS to African- of color feel there’s a cut from the traditional mold of im- place. “The ethnic communities are success or satisfaction. Ms. Harris years ago, when Ms. American glass ceiling and go out migrant entrepreneur.“Most minor- saturated with small businesses.” says she sometimes thinks about business owners Harris launched Schop, a from the SBA’s and become entrepre- ity groups come from countries and looking for another corporate job. food-shopping, prep- NY office last year neurs because there are cultures with a strong entrepreneur- Cultural grounding “I want to have children, and ping and cooking service, limited promotional op- ial tradition,and it’s their cultural as- a common language or culture in- [the business] isn’t affording me the from her Harlem home. portunities in corporate piration to be their own boss,” says spires owners to open up everything consistent paycheck for things I “I wanted to chart my own course,” America,” says Bonnie Wong, presi- Saul Gitlin, executive vice president from restaurants to real estate firms want to do,” she says. she says. dent of Asian Women in Business, a for strategic marketing services at in enclaves populated by their own Faced with the choice between 500-member nonprofit in Manhat- Manhattan-based Kang & Lee Ad- ethnic group. When Kevin Tay, a COMMENTS? [email protected]

18 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 19 6/26/2008 7:46 PM Page 1

REPORT DIVERSITY NY Area’s Largest Minority-Owned Companies Ranked by projected 2008 revenues

% minority Projected 2008 2007 ownership, by revenues revenues 2007 NYC 2007 total Year race/ethnicity Rank Company Phone/Web site Top executive (in millions) (in millions) employees1 employees1 founded of owner(s) Nature of business

Goya Foods Inc. 2 (201) 348-4900 Robert I. Unanue $1,190.0 $1,190.0 n/a 3,000 1936 Hispanic/ Food manufacturing, 100 Seaview Drive www.goya.com President Latino: 100% marketing and 1 Secaucus, NJ 07096 distribution

Palladium Equity Partners (212) 218-5150 Marcos A. Rodriguez $991.0 $881.3 28 6,672 1997 Hispanic/ Private equity 1270 Sixth Ave. www.palladiumequity.com Managing member Latino: 51% 2 New York, NY 10020

Bad Boy Worldwide Entertainment Group 2 (212) 381-1540 Sean Diddy Combs $500.0 $500.0 n/a 600 1993 Black/African- Full-service 1710 Broadway www.badboyonline.com Chairman, chief executive American: 100% entertainment and 3 New York, NY 10019 marketing

Beneath Your Sole Inc. (914) 663-7790 Ramel Sherman, Pamela Sherman $290.0 $280.0 25 70 1992 Black/African- Building maintenance 20 Beechwood Ave. www.beneathyoursole.com Chief executives, owners American: 100% and floor care 4 Mount Vernon, NY 10553

Tecna Corp. 3 (201) 529-0410 Sikander A. Durrani $244.4 $227.0 32 447 1972 Asian: 100% Manufacturing and 1 International Blvd. www.tecnacorp.com Chairman, chief executive exporting of industrial 5 Mahwah, NJ 07495 and aerospace products; power generation Hudson Realty Capital (212) 532-3553 David Loo, Richard Ortiz $185.0 $165.0 20 29 2003 Hispanic/ Real estate fund 250 Park Ave. South www.hudsoncap.com Managing directors Latino: 30% manager 6 New York, NY 10003 Asian: 30%

Bartlett Dairy Inc. (718) 658-2299 Thomas Malave $159.0 $135.0 240 240 1990 Hispanic/ Dairy and food 105-03 150th St. www.bartlettny.com President Latino: 80% distribution 7 Jamaica, NY 11435

By Design 4 (201) 649-9300 Jay Lee $129.0 $158.4 48 70 1994 Asian: 100% Women’s apparel 2400 83rd St. www.bydesignllc.com President, chief executive wholesaler 8 North Bergen, NJ 07047

ACuPowder International (908) 851-4500 Edul Daver $110.0 $105.0 0 98 1916 Asian: 52% Manufacturer of 901 Lehigh Ave. www.acupowder.com President nonferrous powders 9 Union, NJ 07083

ASI System Integration Inc. (212) 736-0111 Sonny Chabra $110.0 $71.0 n/a n/a 2005 Asian: 100% Technology sourcing, 48 W. 37th St. www.asisystem.com Chairman, chief executive consulting and services 10 New York, NY 10018

Condal Distributors Inc. 5 (718) 589-1100 Carmen Fernández $110.0 6 $105.0 225 250 1968 Hispanic/ Specialty wholesale 531 Dupont St. www.condalfoods.com President Latino: 100% food and distribution 11 Bronx, NY 10474

Waitex Group of Companies (212) 967-8100 Howard H. Li $110.0 $106.6 85 715 1981 Asian: 100% Warehouse distribution 135 W. 36th St. www.waitex.com Chairman, chief executive and apparel 12 New York, NY 10018 manufacturer and wholesaler Dial-A-Mattress Operating Corp. (718) 472-1200 Napoleon Barragan $104.0 $104.0 227 320 1976 Hispanic/ Retail sale of mattresses 31-10 48th Ave. www.mattress.com Chairman, chief executive Latino: 100% and related bedding 13 Long Island City, NY 11101 items

Lafayette 148 New York (212) 965-9606 Shun Yen Siu $100.0 $85.0 131 143 1995 Asian: 75% Women’s apparel 148 Lafayette St. www.lafayette148.com Chief executive wholesaler 14 New York, NY 10013

Tri-Line Contracting (212) 245-7402 José Velazquez $95.0 $93.0 95 95 2000 Hispanic/ General contracting 321 W. 44th St. www.trilinecontracting.com President Latino: 100% and construction 15 New York, NY 10036 management

Inner City Broadcasting Corp. (212) 447-1000 Pierre M. Sutton $80.0 $73.0 110 330 1971 Black/African- Radio broadcasting 3 Park Ave. www.wbls.com Chairman, chief executive American: 100% 16 New York, NY 10016

Continued on Page 20 paul grange paul

June 30, 2008 | Crain’s New York Business | 19 CNYB 06-30-08 A 20 6/26/2008 7:49 PM Page 1

REPORT DIVERSITY

% minority Projected 2008 2007 ownership, by revenues revenues 2007 NYC 2007 total Year race/ethnicity Rank Company Phone/Web site Top executive (in millions) (in millions) employees1 employees1 founded of owner(s) Nature of business

Huntington Chevrolet Inc. 2 (631) 427-0900 Gregory Williams $73.0 $73.0 107 107 1999 Black/African- Auto dealership 370 Oakwood Road www.huntingtonchevy.com President American: 100% 17 Huntington Station, NY 11746

Gracious Home (212) 517-6300 Natan Wekselbaum $72.0 $69.0 440 440 1963 Hispanic/ Retail housewares, 1220 Third Ave. www.gracioushome.com President Latino: 100% hardware and home 18 New York, NY 10021 furnishings

Earl G. Graves Ltd. (212) 242-8000 Earl G. Graves Sr. $61.0 $59.7 93 99 1970 Black/African- Magazine publishing, 130 Fifth Ave. www.blackenterprise.com Chairman, publisher American: 100% conferences, radio and 19 New York, NY 10011 television programming

Sirina Fire Protection Corp. (516) 942-0400 Anthony Florez $58.0 $55.0 247 225 1991 Hispanic/ Installation of building 151 Herricks Road www.sirinafire.com Chief executive Latino: 75% fire protection systems 20 Garden City, NY 11040

Cox Nissan Inc. (718) 515-7300 Keith Cox $56.0 $50.0 63 70 2000 Black/African- Auto dealership 3660 Boston Road www.coxnissan.com President American: 100% 21 Bronx, NY 10469

Crystal Windows & Door Systems Ltd. 5 (718) 961-7300 Thomas Chen $55.3 $62.1 305 360 1990 Asian: 100% Manufacturing of 31-10 Whitestone Expressway www.crystalwindows.com President aluminum and vinyl 22 Flushing, NY 11354 windows and doors

Metro Packaging & Imaging Inc. (973) 709-9100 Manuel deTorres $32.9 $32.0 0 137 1964 Hispanic/ Carton production and 5 Haul Road www.metro-pi.com Chief executive Latino: 100% prepress graphics 23 Wayne, NJ 07470 services

Dancy-Power Automotive Group (212) 860-2660 Mark Dancy $30.0 $13.0 13 13 2005 Black/African- Auto dealership 380 Lenox Ave. www.dpautomotivegroup.com President American: 53% 24 New York, NY 10027 Hispanic/ Latino: 20% Gaseteria Oil Corp. (718) 782-4200 Marcello Porcelli $30.0 $34.0 43 43 1975 Hispanic/ Gasoline stations, real 364 Maspeth Ave. — President Latino: 97% estate 25 Brooklyn, NY 11211

Style Asia Inc. (201) 460-9611 Ashok Pamani $30.0 $24.0 4 25 1985 Asian: 100% Importer and wholesale 101 Moonachie Ave. www.styleasia.net President distributor of 26 Moonachie, NJ 07074 promotional gifts and general merchandise New York area includes New York Cityand Nassau, Suffolk and Westchester counties in New York, and Bergen, Essex, Hudson and Union counties in New Jersey. Crain’s New York Business uses staff research, extensive surveys and the most current references available to produce its lists, but giventhe confidential nature of the information for many privately held minority-owned companities, is not possible to identify andinclude every company that would qualify for the list. To qualify, a company mustbe a privately owned business headquartered inthe New York area, and 51% or more of the firm mustbeowned byminorities. Minority races/ethnicities as defined and classified by the U.S. Census Bureau and Empire State Development are as follows: black/African-American (having originsin anyofthe black African racial groups); Hispanic/Latino(Mexican, Puerto Rican, Dominican, Cuban, Central or South American of either Indian or Hispanic/Latino origin, regardless of race); Asian (having originsin anyofthe Far East countries, Southeast Asia or Indian subcontinent); American Indian/Alaskan Native (having originsin anyofthe original peoples of North, SouthorCentral America and maintaining tribal affiliation or communityattachment); and native Hawaiian/other Pacific Islander (having originsin anyofthe original peoples of Hawaii, Guam, Samoa or other Pacific islands). Information was supplied by the companies unless otherwise not ed. In case of tied figures, companies are listed alphabetically. Revenue figures are for the calendar year except where noted. 2008 revenue figures are estimates for companies with fiscal years endingin July through December of this year and are actual for companies with fiscal years endingin January through June, unless otherwise noted. n/a Not available. 1-Full-time and full-time-equivalent, as of Dec. 31. 2-Company did not respond to this year’s survey. Some information/figures are Crain’s estimates based on other published information. 3-Fiscal year ends June 30. 4-Fiscal year ends March 31. 5-Fiscal year ends April 30. 6-Estimate. Research: Denise Southwood, Sarah Studley, Heather Holland and Steven Talay ALL CRAIN’S BUSINESS LISTS ARE AVAILABLE AT WWW.NEWYORKBUSINESS.COM/LISTS.

20 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 21 6/26/2008 7:50 PM Page 1

REPORT DIVERSITY 110,000 Number of affluent women living in New York state +70% Increase in the number of wealthy women in NYS from 2004 to 2007

Source: Phoenix Marketing International paul grange paul NY Area’s Largest Women-Owned Companies Ranked by projected 2008 revenues

Projected 2008 2007 revenues revenues 2007 NYC 2007 total Year Rank Company Phone/Web site Top woman executive (in millions) (in millions) employees1 employees1 founded Nature of business

National Envelope Corp. (516) 699-4000 Directors 2 $880.0 $866.0 340 4,500 1951 Envelope manufacturer 333 Earle Ovington Blvd. www.nationalenvelope.com 1 Uniondale, NY 11553

Rallye Motors Holding (516) 625-1600 Juliana Terian $615.0 $591.0 0 551 1958 Auto dealership 1600 Northern Blvd. www.rallyemotors.com Chairman 2 Roslyn, NY 11576

J&R Music and Computer World (212) 238-9000 Rachelle Friedman $405.0 $360.0 650 675 1971 Audio, video, cameras, music, computers, 23 Park Row www.jr.com Co-chief executive appliances and home office products via retail, 3 New York, NY 10038 mail order and the Web

Turtle & Hughes Inc. 3 (732) 574-3600 Suzanne T. Millard $400.0 $345.0 10 460 1923 Wholesale distributor of electrical 1900 Lower Road www.turtle.com Chairman, president and industrial supplies 4 Linden, NJ 07036

Henegan Construction Co. (212) 947-6441 Maureen A. Henegan $275.0 $230.0 150 150 1959 Construction management and general 250 W. 30th St. www.henegan.com Chief executive contracting 5 New York, NY 10001

Eileen Fisher Inc. (914) 591-5700 Eileen Fisher $274.0 $254.0 185 651 1984 Women’s clothing designer, wholesaler and 2 Bridge St. www.eileenfisher.com Chief creative officer retailer 6 Irvington, NY 10533

Ergonomic Group Inc. (516) 746-7777 Karen P. Girards $265.0 $267.0 0 166 1984 IT solutions provider/distributor 609-3 Cantiague Rock Road www.ergogroup.com President 7 Westbury, NY 11590

TransPerfect Inc. (212) 689-5555 Liz Elting $200.0 $156.7 351 753 1992 Global language and business services 3 Park Ave. www.transperfect.com President, chief executive 8 New York, NY 10016

Daffy’s Inc. (201) 902-0800 Marcia Wilson $166.5 $162.9 848 1,602 1961 Retailer of off-price apparel Daffy’s Way www.daffys.com President, chief executive 9 Secaucus, NJ 07094

Innovative Stone (631) 273-4445 Karen Pearse $165.0 $140.0 1 525 1981 Natural stone importer, distributor and 150 Motor Parkway www.innovativestone.com Chief executive, founder fabricator 10 Hauppauge, NY 11788

Carole Hochman Design Group Inc. (212) 725-1212 Carole Hochman $150.0 $150.0 165 338 1930 Women’s sleepwear 135 Madison Ave. www.carolehochman.com Chairman 11 New York, NY 10016

Loren Communications International Ltd. (212) 752-4900 Pamela Loren $130.0 $128.0 275 500 1975 International medical telecommunications 155 E. 55th St. — Chairman, chief executive 12 New York, NY 10022

Condal Distributors Inc. 4 (718) 589-1100 Carmen Fernández $105.0 5 $105.0 225 250 1968 Specialty wholesale food and distribution 531 Dupont St. www.condalfoods.com President 13 Bronx, NY 10474

Ruder Finn (212) 593-6400 Kathy Bloomgarden $98.2 $93.5 231 357 1948 Public relations 301 E. 57th St. www.ruderfinn.com Co-chief executive 14 New York, NY 10022

Meadows Office Furniture Co. (212) 741-0333 Rosalie Stackman Edson $94.0 $93.5 60 121 1967 Office furniture sales and distribution 71 W. 23rd St. www.meadowsoffice.com President, chief executive 15 New York, NY 10010

Chloé Foods Corp. (718) 827-9000 Annette Apergis $85.0 $80.0 500 500 2003 Food manufacturer and distributor 3301 Atlantic Ave. www.chloefoods.com Chief financial officer 16 Brooklyn, NY 11208

Continued on Page 22

June 30, 2008 | Crain’s New York Business | 21 CNYB 06-30-08 A 22 6/26/2008 7:52 PM Page 1

REPORT DIVERSITY

Projected 2008 2007 revenues revenues 2007 NYC 2007 total Year Rank Company Phone/Web site Top woman executive (in millions) (in millions) employees1 employees1 founded Nature of business

ICP Inc. (718) 556-6700 Michelle Fabozzi $60.0 $60.0 67 74 1989 Information technology 20 Clifton Ave. www.icpcorp.com Chief executive 17 Staten Island, NY 10305

Sharp Decisions Inc. (212) 481-5533 Karen Ross $58.6 $53.3 234 398 1990 Technology consulting 55 W. 39th St. www.sharpdecisions.com President, chief executive 18 New York, NY 10018

Juniper Communities (973) 661-8300 Lynne S. Katzmann $50.0 $44.0 10 810 1988 Long-term care community owner 400 Broadacres Drive www.junipercommunities.com Chief executive, founder 19 Bloomfield, NJ 07003

I.G. Federal Electrical Supply Corp. (718) 729-5700 Meryl R. Berger $48.4 $48.4 58 58 1932 Distributor of electrical supplies and lighting 47-20 30th St. — President 20 Long Island City, NY 11101

Kleinknecht Electric Co. (212) 728-1800 Lisa Kleinknecht Canty $45.0 $40.0 225 225 1916 Electrical, data and telecommunications 252 W. 37th St. www.kecny.com President contractor 21 New York, NY 10018

ACC Construction Corp. (212) 686-9331 Michele Medaglia $40.0 $39.3 38 38 1984 General contractor and construction manager 6 E. 32nd St. www.acc-construction.com President, chief executive 22 New York, NY 10016

Kleinberg Electric Inc. (212) 206-1140 Carol Kleinberg $35.0 $32.9 120 120 1979 Electrical contractor 437 W. 16th St. — President 23 New York, NY 10011

Matrix Information Consulting Inc. (201) 587-0777 Sharon Olzerowicz $31.6 $27.9 6 248 1986 Information technology consulting and 365 W. Passaic St. www.matrixcc.com President, chief executive staffing 24 Rochelle Park, NJ 07662

Big Apple Car Inc. (718) 331-9500 Diana Clemente $29.5 $28.0 105 105 1983 Luxury ground transportation 169 Bay 17th St. www.bigapplecar.com President 25 Brooklyn, NY 11214

Omega Home Health Services, which was included in the top 25 list in 2007, is no longer women-owned. New York area includes New York City and Nassau, Suffolk and Westchester counties in New York, and Bergen, Essex, Hudson and Union counties in New Jersey. Crain’s New York Business uses staff research, extensive surveys and the most current references available to produce its lists, but given the confidential nature of the information for many privately held women-owned companies, it is not possible to identify and include every company that would qualify for the list. To qualify for this list, a company must be a privately owned business headquartered in the New York area, and 51% or more of the business must be owned by a woman. Travel agencies are excluded. Information was supplied by the companies. In case of tied figures, companies are listed alphabetically under the same ranking number. Revenue figures are for the calendar year except where noted. 2008 revenue figures are estimates for companies with fiscal years ending in May through December of this year and are actual for companies with fiscal years ending in January through April. 1-Full-time and full-time-equivalent, as of Dec. 31. 2-Florette Ungar Shaashua, Joan Ungar Levy, Denise Ungar Stern, Rita Ungar Moser. 3-Fiscal year ends Sept. 30. 4-Fiscal year ends April 30. 5-Estimate. Research: Denise Southwood, Sarah Studley, Heather Holland and Steven Talay

ALL CRAIN’S BUSINESS LISTS ARE AVAILABLE AT WWW.NEWYORKBUSINESS.COM/LISTS.

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22 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 23 6/26/2008 1:47 PM Page 1

SMALL BUSINESS

AT A GLANCE 2008 SALES Grocer finds experienced staff pays FORECASTS

uating college in 1979, she consid- Boris Bassin, head of the deli de- feeling squeezed by a slowing DELI $10.5 million Zabar’s counters are ered pursuing a career in business. partment, tells a similar story. He economy and soaring food and en- manned by veterans; But when Zabar’s gave her an op- has been with Zabar’s for 33 years ergy costs. Mr. Zabar also faces GROCERY $10 million portunity to be a manager, Ms. and is always on the lookout for ways pressure from suppliers. One ven- CHEESE $7.5 million pricey but essential Dominguez decided to stay. to improve the performance of his dor recently added a 25% fuel sur- She now oversees a staff of 25 section. charge to a delivery, he says, and HOUSEWARES $7.5 million selling almost 900 cheeses, from Con Ed might raise rates. Zabar’s FISH COUNTER $6.5 million BY DIANE C. HESS Worrisome downturn farmer cheese at $4.98 a pound to monthly electric bill already runs CATALOG artisanal products at $32 a pound. “there is so much potential here, as high as $40,000. $6 million pper west siders Her section is expected to have sales and the owners never stop me from The store has weathered other bloomberg news have any number of of $7.5 million this year. “I’ve built being creative and trying new bad economic cycles, but this one is he says. “I hope we can do it in the places where they can a department that’s good for the things,” Mr. Bassin says. especially worrisome, according to future.” go for upscale edibles. city, good for Zabar’s and good for Like customers at other high- Mr. Zabar. “So far, we’ve been able But only at Zabar’s, on me,” Ms. Dominguez declares. end stores, Zabar’s patrons are to do what we’ve done in the past,” COMMENTS? [email protected] UBroadway and West 80th Street, will they find people like 36-year store veteran Olga Dominguez, who oversees the cheese depart- ment, or 24-year veteran David Reiser, who wields a knife at the smoked-fish counter. “These guys have been slicing salmon for 20 years,” says Danny Koch, a longtime Zabar’s customer who owns a nearby lingerie bou- tique and admits that he often sam- ples four or five fish before buying one.“There is something nice about being waited on by someone with whom you have a rapport,” he says. In a market chockablock with competition and more stores piling on gourmet items like organic ched- dar and Nova lox, Zabar’s thrives by playing its trump cards. Those in- clude the 74-year-old store’s status as a neighborhood institution—a status shared by many of its 250 em- ployees. Twenty percent of them have worked at Zabar’s for more than 15 years, and 38% have been there for over a decade. That kind of longevity is no acci- dent.Turnover is high in food stores, and Zabar’s goes out of its way to hold on to people. Valuable benefits among other things,the compa- ny provides health coverage for all full-time employees, who are also eligible for two annual bonuses. Workers are fully vested in the prof- it-sharing plan at six years,and peo- ple with 10 years’ service receive four weeks of vacation. Zabar’s will even pay up to one- third of college tuition for its staffers and their children. “To be socially conscious is to our benefit,” says Saul Zabar, 80, who took over as president of the compa- ny when his father, Louis, died in 1951. By doing a better job at retaining and motivating employees than many of his rivals,Mr.Zabar can de- liver a better customer experience and incur fewer turnover-related ex- penses. “There is no question that the effectiveness of a small business staff mirrors the treatment that it receives from top management,” says William Baumol, academic di- rector of the Berkley Center for En- trepreneurial Studies at New York University.“Good treatment of em- ployees makes for good product and happy customers.” Ms. Dominguez illustrates that . statement. She began as a part-time cashier at Zabar’s in 1972, while she was still in high school. Upon grad-

June 30, 2008 | Crain’s New York Business | 23 nb26p24-25cls.qxp 6/26/08 10:39 AM Page 24

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Notice of Formation of Alliance Medical CANDEO CLINICAL/SCIENCE COMMUNI- Notice of Qualification of Kamas Holdings, and Wellness PLLC, Art. of Org. filed CATIONS, LLC, a domestic Limited LLC, App. for Auth. filed Sec’y of State Crain's Classified is not responsible forSec’y corrupt of State files (SSNY) submitted 12/12/07. by Office client or adsLiability run underCompany the (LLC) wrong filed subheading.with the Sec (SSNY) 5/19/08. Office location: NY location: NY County. SSNY designated as of State of NY on 5-9-08. NY Office loca- County. LLC org. in DE 3/6/08. SSNY des- agent of PLLC upon whom process tion: New York County. SSNY is designat- ignated as agent of LLC upon whom Crain'sagainst it Classifiedmay be served. is not SSNY responsible shall mail fored corrupt as agent filesupon submittedwhom process by against client or adsprocess run underagainst theit may wrong be served. subheading. SSNY copy of process to Nat. Reg. Agents, 875 Crain'sthe LLC may Classified be served. is notSSNY responsible shall mail a forshall corrupt mail copy files ofsubmitted process to c/o by Trevor client or ads run under the wrong subheading. Crain's Classified is not responsible for corrupt files submitted by client or adsAve run of the under Americas, the wrong Ste. 501, subheading. NY, NY copy of any process against the LLC Belton, 105 E. 34th St., Ste. 125, NY, NY 10001. Purpose: any lawful activities. served upon him/her to The LLC, 75 10016. DE office addr.: c/o CSC, 2711 Maiden Ln., Ste. 408, NY, NY 10038. Centerville Rd., Wilmington, DE 19808. Notice of Qualification of Sirius Solutions General purposes. Cert. of Form. on file: SSDE, Townsend ENTREPENEURS WANTED PUBLIC & LEGAL GP, L.L.C. Authority filed with Secy. of Bldg., Dover, DE 19901. Purpose: any State of N.Y. (SSNY) on 5/1/08. Office Notice of Formation of CMF Eckhardt lawful activities. NOTICES location: NY County. LLC formed in Master Fund L.P. Certificate filed with Delaware (DE) on 8/7/02. SSNY designat- Secy. of State of N.Y. (SSNY) on DOJEAN LLC, a domestic Limited Liability NOTICE OF FORMATION OF KJF ed as agent of LLC upon whom process 2/13/2008. Office location: NY County. Company (LLC) filed with the Sec of State of NY on 5-3-05. NY Office location: New Documentaries LLC article of Organization against it may be served. SSNY shall mail SSNY designated as agent of LP upon York County. SSNY is designated as filed with the Secretary of State of NY process to: Capitol Services, Inc., 1218 Crain'swhom process Classified against is it not may responsible be served. for corrupt files submitted by client or ads run under the wrong subheading. (SSNY) on 2/13/08. Office location: New agent upon whom process against the Crain's Classified is not responsible forCentral corrupt Ave., files Ste. submitted100, Albany, NY by 12205. client or adsSSNY run shall under mail the process wrong to: subheading.Citigroup York County. SSNY has been designated LLC may be served. SSNY shall mail a DE address of LLC: 1209 Orange St., Managed Futures LLC, 731 Lexington as agent upon whom process against it Ave., 25th Fl., NY, NY 10022, Attn: copy of any process against the LLC may be served. The Post Office address to Crain'sWilmington, Classified DE 19801. is Arts. not of responsible Org. filed for corrupt files submitted by client or adsserved run upon under him/her the wrongto C/O Alan subheading. P. with DE Secy. of State, 401 Federal St., Jennifer Magro. Registered agent upon which the SSNY shall mail a copy of any whom process may be served: CT Raines, Esq., 535 Fifth Ave., 25th Fl., NY, Ste. 4, Dover, DE 19901. Purpose: any Crain's Classified is not responsible forprocess corrupt against files the submitted KJF Documentaries by client or ads run under the wrong subheading. Corporation System, 111 8th Ave., NY, NY 10017. General purposes. LLC served upon him is C/O KJF lawful act or activity. NY 10011. Name/address of each genl. Documentaries 112 West 27th St. 6th flr. Notice of Formation of Industco Holdings, ptr. available from SSNY. Term: until NY, NY Purpose of : to engage in any law- Notice of Formation of Alui Properties, LLC. Arts. of Org. filed with Secy. of State 12/31/2030. Purpose: any lawful activity. REAL ESTATE ful act or activity. Street address of LLC. Arts. of Org. filed with NY Dept. of Crain's Classified is not responsible forof corrupt N.Y. (SSNY) files on submitted 4/28/08. Office by location: client or ads run under the wrong subheading. Principal Business location is: 112 West State on 5/20/2008. Office location: NY VISIONS WITH SOLUTIONS, LLC, a NY County. SSNY designated as agent of OFFICE SPACE 27th st 6th flr NY NY 10001. County. Principal business address: 322 domestic Limited Liability Company (LLC) LLC upon whom process against it may W. 57th St., Unit 42 M1, NY, NY 10019. be served. SSNY shall mail process to: Crain'sNotice of ClassifiedQualification isof notPhoenix responsible Adlabs for corrupt files submitted by client or adsfiled run with under the Sec the of State wrong of NY subheading. on 3-10- Secy. of State designated as agent of LLC 08. NY Office location: New York County. c/o Signature Urban Properties, LLC, 853 Crain's Classified is not responsible for corrupt files submitted by client or adsTheatre run underManagement, the wrong LLC. Authority subheading. filed Crain'supon whom Classified process against is not it responsible may be for corrupt files submitted by client or ads run under the wrong subheading. with NY Dept. of State on 5/28/08. Office SSNY is designated as agent upon whom Broadway, Ste. 2014, NY, NY 10003. served and shall mail process to: c/o process against the LLC may be served. Purpose: any lawful activity location: NY County. LLC formed in Poles, Tublin et al., LLP, 46 Trinity Pl., NY, Tennessee (TN) on 2/25/08. NY Secy. of SSNY shall mail a copy of any process NY 10006. Term: until 12/31/2099. against the LLC served upon him/her to NOTICE OF FORMATION of Woo Jung A. State designated as agent of LLC upon Purpose: any lawful activity. Cho, PLLC. Arts. Of Org. filed with Secy. whom process against it may be served The LLC, 230 W. 147th St., Unit 1Q, NY, NY 10039. General purposes. Of State of N.Y. (SSNY) on 3/27/08. Office and shall mail process to: c/o CT PARADIGM CAPITAL ADVISORS LLC, a location: New York County. SSNY desig- Corporation System, 111 8th Ave., NY, NY domestic Limited Liability Company (LLC) Crain'sNotice of ClassifiedQualification isof notBLT responsible33 LLC. fornated corrupt as agent files of submittedPLLC upon whom by client or ads run under the wrong subheading. 10011, registered agent upon whom Crain'sClass Classified A 5th Ave is not Bldg responsible for corrupt files submitted by client or adsfiled run with under the Sec the of State wrong of NY subheading. on 6-13- process against it may be served. SSNY Large and small windowed offices process may be served. TN and principal Authority filed with Secy. of State of N.Y. 07. NY Office location: New York County. shall mail process to: 49 West 76th Street, with great views and secretarial Crain'sbusiness Classifiedaddress: 111 is Center not responsiblePark Dr., for corrupt files submitted by client or ads(SSNY) run underon 4/29/08. the Office wrong location: subheading. NY SSNY is designated as agent upon whom #2D, NY, NY 10023. Principal business space. Shared office environment Ste. 1003, Knoxville, TN 37922. Arts. of process against the LLC may be served. County. Principal business location: 11 inside law firm. Full access to 3 Org. filed with TN Secy. of State, 312 8th Madison Ave., NY, NY 10010. LLC formed location: 49 West 76th Street, #2D, NY, NY SSNY shall mail a copy of any process 10023. Purpose: The practice of law. conf. rms, recep, copier/scanner, Ave. N., 6th Fl., Nashville, TN 37243. against the LLC served upon him/her to in Delaware (DE) on 4/17/08. SSNY des- and kitchen; free T-1 internet access. Purpose: any lawful activity. ignated as agent of LLC upon whom Crain's Classified is not responsible for corrupt files submitted by client or ads run under the wrong subheading. Julie Ravage, 603 W. 148th St., Ste. 6, Notice of Formation of Wood River NY Contact Aiste at 212-710-0003. process against it may be served. SSNY Notice of Formation of EAST 191 LLC. NY, NY 10031. General purposes. LLC. Arts. of Org. filed with Secy. of State shall mail process to: c/o Corporation of NY (SSNY) on 6/6/08. Office location: Crain's Classified is not responsible forArts. corrupt of Org. files filed submittedwith Secy. of byState client of or adsCrain'sNotice run of under ClassifiedFormation the of wrong is Shelter not subheading.responsible Designs forCrain's corrupt Classified files submitted is not responsible by client or for ads corrupt run under files the submitted wrong subheading. by client or ads run under the wrong subheading. Service Company, 80 State St., Albany, NY County. SSNY designated as agent of N.Y. (SSNY) on 4/29/08. Office location: LLC, Art. of Org. filed Sec’y of State PUBLIC & LEGAL Crain's Classified is not responsible for corrupt files submitted by client or adsNY run12207. under DE address the wrong of LLC: subheading. 2711 LLC upon whom process against it may NY County. SSNY designated as agent of (SSNY) 3/7/08. Office location: NY Centerville Rd., Ste. 400, Wilmington, DE be served. SSNY shall mail process to: NOTICES LLC upon whom process against it may County. SSNY designated as agent of LLC 19808. Arts. of Org. filed with DE Secy. of Leonard B. Pack, Esq., Wechsler & be served. SSNY shall mail process to: upon whom process against it may be NOTICE OF FORMATION of ABILTO LLC. 191 E. 7th St., Apt. 4, NY, NY 10009. State, 401 Federal St., Ste. 4, Dover, DE Cohen, LLP, 17 State St., 15th Fl., NY, NY served. SSNY shall mail copy of process 10004. Purpose: any lawful activity. Arts. Of Org. filed with Secy. Of State of Purpose: any lawful activity. to 1 Penn Plaza, #6102, NY, NY 10119. 19901. Purpose: any lawful activity. N.Y. (SSNY) on 6/03/08. Office location: NOTICE OF FORMATION OF ABEND & Purpose: any lawful activities. Notice of Formation PG 69 LLC art. of org. MERCER STREET DEVELOPMENT LLC, a New York County. SSNY designated as domestic Limited Liability Company (LLC) SILBER, PLLC. Article of Organization SP8 INTERNATIONAL LLC, a domestic filed Secy. of State NY (SSNY) 1/23/08. agent of LLC upon whom process against Crain's Classified is not responsible for corrupt files submitted by client or adsfiled run with under the Sec the of State wrong of NY subheading. on 12-4- Crain's Classified is not responsible for corrupt files submitted by client or adsfiled run with under the Secretary the wrong of State subheading. of NY Limited Liability Company (LLC) filed with Off. loc. in NY Co. SSNY designated as it may be served. SSNY shall mail process 07. NY Office location: New York County. to: National Registered Agents, Inc., 875 (SSNY) on 4/30/2008 Office location NEW the Sec of State of NY on 12-14-07. NY agent of LLC upon whom process may be YORK County. SSNY has been designated SSNY is designated as agent upon whom Ave. of the Americas, Ste 501, NY, NY Office location: New York County. SSNY is Crain'sserved. SSNY Classified shall mail is copy not responsibleof process for corrupt files submitted by client or ads run under the wrong subheading. Crain'sas agent Classifiedupon whom isprocess not responsibleagainst it for corrupt files submitted by client or ads run under the wrong subheading. process against the LLC may be served. 10001. Principal business location: 880 designated as agent upon whom process to: Philippe Guegan, 68 Bradhurst Ave, may be served. The Post Office address to SSNY shall mail a copy of any process 5th Ave., Ste 5C, NY, NY 10021. Purpose: against the LLC may be served. SSNY 1U, NY, NY 10039. Purpose: Any lawful which the SSNY shall mail a copy of any against the LLC served upon him/her to Any lawful activity. shall mail a copy of any process against process against the LLC served upon purpose. Joe Sabbagh, C/O Ultimate Realty, 28 E. Crain's Classified is not responsible for corrupt files submitted by client or adsthe runLLC underserved upon the wronghim/her subheading.to SJS him/her is C/O the LLC 151 WEST 74TH 14th St., NY, NY 10003. Latest date to BLINK ENTERTAINMENT, LLC, a foreign Management Corp., 780 Third Ave., Ste. Name of LLC: FRANKEL & GREEN THEATRI- STREET, 7C. NEW YORK, NY 10023. CAL MANAGEMENT LLC. Articles of Org. dissolve: 12-31-2055. General purposes. Limited Liability Company (LLC) filed with 2101, NY, NY 10017. General purposes. Purpose of PLLC: to engage in the prac- filed Dept. of State of NY on 4/18/08. Office the Sec of State of NY on 5-29-08. NY NOTICE OF FORMATION OF tice of law. Street address of Principal Notice of Qualification of EKARD, LLC. location in NY: New York County. Secy. of Office location: New York County. SSNY SUPERDELUXE, Art. of Org. filed Sec’y of Crain's Classified is not responsible for corrupt files submitted by client or adsBusiness run under location the is: wrong419 PARK subheading. AVENUE Authority filed with Secy. of State of NY State designated as agent of LLC upon is designated as agent upon whom State (SSNY) DEC 1, 2006. Office SOUTH. NEW YORK, NY 10016. (SSNY) on 6/6/08. Office location: NY whom process against it may be served. process against the LLC may be served. Crain's Classified is not responsible forCrain's corrupt Classified files submitted is not responsible by client or for adsLocation: corrupt run under NY files county. the submitted wrongSSNY designated subheading. by client as or ads run under the wrong subheading. County. LLC formed in Delaware (DE) on Sec. of State shall mail a copy of process to: SSNY shall mail a copy of any process NOTICE OF FORMATION OF LIMITED LIA- agent of LLC upon whom process against 5/8/07. SSNY designated as agent of LLC c/o Richard Frankel, Richard Frankel against the LLC served upon him/her to BILITY COMPANY. NAME: 2B. RYCH LLC. it may be served. SSNY shall mail copy of upon whom process against it may be Productions, Inc., 729 Seventh Avenue, 12th The LLC, 303 Fifth Ave., Ste. 1606, NY, Articles of Organization were filed with the process to SUPERDELUXE, 195 served. SSNY shall mail process to Floor, New York, NY 10019. The latest date NY 10016. General purposes. Crain'sSecretary Classifiedof State of New is notYork responsible(SSNY) on for corrupt files submitted by client or ads run under the wrong subheading. CHRYSTIE, 701C, NY, NY, 10002. princ. bus. loc.: 2 Wall St., NY, NY on which the LLC is to dissolve is 05/14/08. Office location: New York County. Purpose: any lawful purpose Crain's Classified is not responsible for corrupt files submitted by client or ads10005. run DE under address the of wrong LLC: 2711 subheading. 12/31/2075. Purpose: any lawful activity. NOTICE OF FORMATION of R S & P L, SSNY has been designated as agent of the Centerville Rd., Ste. 400, Wilmington, DE LLC. Articles of Organization filed with the LLC upon whom process against it may be Notice of Formation Color By Pergament NAME OF LLC: Palisander Holdings LLC. 19808. Arts. of Org. filed with DE Secy. Sec. of State of NY (SSNY) on 04/23/08. served. SSNY shall mail a copy of process Crain's Classified is not responsible forLLC corrupt art. of filesorg. filed submitted Secy. of byState client NY or adsArts. run Of underOrg. filed the with wrong NY Dept. subheading. of State to the LLC, c/o Alfred Dunner Inc., 1411 of State, 401 Federal St., Ste. 4, Dover, (SSNY) 5/30/08. Off. loc. in NY Co. on 5/19/08. Office location: NY County. Office location: New York County. SSNY DE 19901. Purpose: any lawful activity. has been designated as agent upon whom Broadway, New York, New York 10018. SSNY designated as agent of LLC upon SSNY designated as agent of LLC upon Crain's Classified is not responsible forprocess corrupt against files itsubmitted may be served. by SSNY client or adsPurpose: run under For any the lawful wrong purpose. subheading. Notice of Qualification of DFS Funding whom process may be served. SSNY whom process against it may be served and shall mail process to: Daniel Harrison, shall mail copy of any process to L.L.C. Authority filed with NY Dept. of shall mail copy of process to: Edward NOTICE OF FORMATION of BCDR Solutions State on 5/28/08. NYS fictitious name: Dell David Esq, 3 Becker Farm Rd, Roseland, 55 East 9th Street, Apt. 14BC, NY, NY Yungman Lee, 207 Bowery, New York, NY LLC. Article of Organization filed with the Funding Services LLC. Office location: NY NJ 07068. Purpose: Any lawful purpose. 10003. Purpose own and manage real 10002. Purpose: To engage in any lawful Secretary of State of NY (SSNY) on County. Principal business address: One estate and other investments. act or activity. The Principal Business 03/04/08. Office location: NY County. SSNY Dell Way, Round Rock, TX 78682. LLC Notice of Qualification of Whitehall Street location is: 207 Bowery, NY, NY, 10002 has been designated as agent upon whom formed in Delaware (DE) on 11/16/04. NY Employee Funds 2008 GP, L.L.C. Authority process against it may be served. The Post Secy. of State designated as agent of LLC filed with Secy. of State of N.Y. (SSNY) on Notice of Formation of Elite Home Office address to which the SSNY shall mail upon whom process against it may be 5/8/08. Office location: NY County. LLC To place your Services, LLC. Arts. of Org. filed with a copy of any process against the LLC served and shall mail process to: c/o CT formed in Delaware (DE) on 2/28/08. SSNY Secy. of State of NY (SSNY) on 5/9/08. served upon him is C/O the BCDR Corporation System, 111 8th Ave., NY, NY designated as agent of LLC upon whom classified ad call Office location: NY Co. SSNY designated Solutions LLC, 151 1st Avenue #238, N.Y., 10011, registered agent upon whom process against it may be served. SSNY as agent of LLC upon whom process N.Y., 10003. Date of Dissolution: No specif- process may be served. DE address of shall mail process to: 85 Broad St., NY, NY against it may be served. SSNY shall mail ic date. Purpose of LLC: to engage in any LLC: 1209 Orange St., Wilmington, DE 10004. DE address of LLC: 1209 Orange St., John Gallagher process to: Diane Schottenstein, 165 lawful act or activity. Street address of 19801. Arts. of Org. filed with DE Secy. of Wilmington, DE 19801. Cert. of Form. filed West End Ave., Apt. 4D, NY, NY 10023. Principal Business location is: 151 1st State, 401 Federal St., Dover, DE 19901. with DE Secy. of State, P.O. Box 898, Dover, Purpose: any lawful activities. Avenue #238, N.Y., N.Y., 10003 Purpose: any lawful activity. DE 19903. Purpose: any lawful activity. @ 212-210-0189

24 | Crain’s New York Business | June 30, 2008 nb26p24-25cls.qxp 6/26/08 10:55 AM Page 25

Crain's Classified is not responsible forCrain's corrupt Classified files submitted is not responsible by client or for adsCrain's corrupt run under Classified files the submitted wrong is not subheading. responsible by client or for adsCrain's corrupt run under Classified files the submitted wrong is not subheading. responsible by client or for adsCrain's corrupt run under Classified files the submitted wrong is not subheading.responsible by client or for ads corrupt run under files the submitted wrong subheading. by client or ads run under the wrong subheading.

PUBLIC & LEGAL NOTICES

Notice of Formation of HARON FAMILY, Notice of Qualification of Julius Baer Notice of Formation of BOWERY DEVEL- Notice of Qualification of HB Onshore Notice of Qualification of Bagel Cafe, LLC. LLC amended to D.R.Y., LLC. Arts. of Org. Investment Management LLC. Authority OPMENT, LLC, a domestic LLC. Arts. of Fund, LLC. Authority filed with NY Dept. Authority filed with Secy. of State of N.Y. filed with Secy. of State of N.Y. (SSNY) on of State on 4/14/08. Office location: NY (SSNY) on 5/21/08. Fictitious name in NY filed with Secy. of State of NY (SSNY) on Org. filed with the SSNY on 03/21/08. 3/4/1999. Office location: NY County. 9/7/04. Office location: NY County. LLC County. LLC formed in Delaware (DE) on State: Bagel Cafe NY, LLC. Office location: Crain's Classified is not responsible for corrupt files submitted by client or adsCrain's run under Classified the wrong is not subheading.responsible forOffice corrupt location: files NY submitted County. SSNY by clienthas or ads run under the wrong subheading. SSNY designated as agent of LLC upon formed in Delaware (DE) on 5/3/04. SSNY 4/7/08. NY Secy. of State designated as NY County. Princ. bus. loc.: 429 Third whom process against it may be served. designated as agent of LLC upon whom been designated as agent upon whom agent of LLC upon whom process against Ave., NY, NY 10016. LLC formed in Crain'sSSNY shall Classified mail process is notto: The responsible LLC, c/o forprocess corrupt against files it submittedmay be served by and client shall or adsprocess run under against the the wrongLLC may subheading. be served. it may be served and shall mail process Delaware (DE) on 11/6/07. SSNY desig- K&R Realty Management Inc., 37 W. 65th mail process to the principal office of the SSNY shall mail a copy of process to: to: c/o Highbridge Capital Management, nated as agent of LLC upon whom St., 2nd Fl., NY, NY 10023. Term: until LLC: 330 Madison Ave., NY, NY 10017, 88 University Place 8th Fl., NY, NY LLC, 9 W. 57th St., 27th Fl., NY, NY process against it may be served. SSNY shall mail process to: c/o Cyruli Shanks 12/31/2049. Purpose: any lawful activity. Attn: General Counsel. Arts. of Org. filed 10003. Purpose: Any Lawful Purpose. 10019, principal business address of the with DE Secy. of State, 401 Federal St., Crain'sLLC. Registered Classified agent is upon not whom responsible forHart corrupt & Zizmor, files LLP, submitted 420 Lexington by clientAve., or ads run under the wrong subheading. Ste. 2320, NY, NY 10170. DE address of Notice of Formation of Soha Retail Ste. 3, Dover, DE 19901. Purpose: any Notice of Formation of Ladi Ladi process may be served: CT Corporation Crain's Classified is not responsible for corrupt files submitted by client or adsLLC: run c/o underCorporation the wrongService Co., subheading. 2711 Manager LLC. Arts. of Org. filed with lawful activity. International Trading LLC filed with NY System, 111 8th Ave., NY, NY 10011. DE Secy. of State of NY (SSNY) on 3/7/08. Dept of State on 5/12/08. Office Location: address of LLC: c/o The Corporation Trust Centerville Rd., Ste. 400, Wilmington, DE. Crain's Classified is not responsible for corrupt files submitted by client or adsCrain's run under Classified the wrong is not subheading. responsible for corrupt files submitted by client or ads run under the wrong subheading. Cert. of Form. filed with DE Secy. of State, Office location: NY Co. SSNY designated SINGH EQUITIES, LLC Notice of Conversion NY County, Secy of State designated as Co., 1209 Orange St., Wilmington, DE 401 Federal St., Dover, DE 19901. as agent of LLC upon whom process agent of LLC upon whom process against 19801. Cert. of Form. filed with DE Secy. of a Partnership into the above Limited Purpose: any lawful activity. against it may be served. SSNY shall mail Liability Company (“LLC”). A Cert. of it may be served and shall mail process to of State, 401 Federal St., Dover, DE process to: The LLC, c/o Artimus Conversion was filed with the Department of the principal business address c/o Taiwo 19901. Purpose: any lawful activity. Construction Inc., 37 West 65th St., NY, Notice of Qualification of 767 Fifth Lender State of NY on 12/5/2007. Office Location: Oladele, 1735 Townsend Ave 3B Bronx NY LLC. Authority filed with NY Dept. of State NY 10023. Purpose: any lawful activities. Notice of formation of BMF Trading LLC. 10453. Purpose: Any lawful activity. on 6/2/08. Office location: NY County. New York County. The street address is: Articles of Organization filed with Secy. Of Principal business address: 800 Boylston Notice of Formation of 36 BEDFORD LLC. 22 West 27th Street, New York, NY 00000. Notice of Qualification of The Partners State of N.Y. (SSNY) on 4/21/08. Office St., Ste. 1900, Boston, MA 02199. LLC Arts. of Org. filed with Secy. of State of The Secretary of the State of NY (“SSNY”) (Brand Consultants) LLC. Authority filed Location: New York County. SSNY desig- Crain's Classified is not responsible for corrupt files submitted by client or adsformed run in under Delaware the (DE) wrong on 5/29/08. subheading. NY Crain'sN.Y. (SSNY) Classified on 4/13/07. is notOffice responsible location: forhas corrupt been designated files submitted as agent of bythe clientLLC or adswith run Secy. under of State the of wrong NY (SSNY) subheading. on Crain's Classified is not responsible for corrupt files submitted by client or ads run under the wrong subheading. nated as agent of LLC upon whom process Secy. of State designated as agent of LLC NY County. SSNY designated as agent of upon whom process against it may be 4/29/08. Office location: NY County. LLC against it may be served. SSNY shall mail upon whom process against it may be LLC upon whom process against it may served. SSNY shall mail a copy of any formed in Delaware (DE) on 4/28/08. process to: 2226 N. Lincoln, Apt. 4A, served and shall mail process to: c/o CT be served. SSNY shall mail process to process served upon the LLC to: The LLC, SSNY designated as agent of LLC upon Chicago, IL 60614. Principal business princ. bus. loc.: c/o The LLC, 45 W. 8th Corporation System, 111 8th Ave., NY, NY 22 West 27th Street, New York, NY 00000. whom process against it may be served. location: 251 E. 32nd St., Apt. 2H, NY, NY 10011, registered agent upon whom St., 2nd Fl., NY, NY 10011. Purpose: any Purpose: any lawful act. SSNY shall mail process to: Davis & Crain's10016. Purpose: Classified Any islawful not activity. responsible for corrupt files submitted by client or ads run under the wrong subheading. lawful activity. Crain's Classified is not responsible for corrupt files submitted by client or ads run under the wrong subheading. process may be served. DE address of Gilbert LLP, 1740 Broadway, NY, NY LLC: c/o The Corporation Trust Co., 1209 NOTICE OF FORMATION of Office Greeners Notice of Qualification of Fintech Real 10019. Address to be maintained in DE: Orange St., Wilmington, DE 19801. Arts. Notice of Formation of RIVER TWICE LLC. LLC. Arts. Of Org. filed with Secy. Of State of Arts. of Org. filed with Secy. of State of NY Estate Holdings LLC. Authority filed with 160 Greentree Dr., Ste. 101, Dover, DE of Org. filed with DE Secy. of State, 19904. Arts. of Org. filed with DE Secy. Of N.Y. (SSNY) on 4/28/08. Office location: New (SSNY) on 4/3/08. Office location: NY Secy. of State of N.Y. (SSNY) on 5/5/08. Crain's Classified is not responsible for corrupt files submitted by client or adsLoockerman run under & Federal the wrong Sts., Dover, subheading. DE Office location: NY County. LLC formed in State, 401 Federal St., Ste 4., Dover, DE York County. SSNY designated as agent of Crain's Classified is not responsible forCounty. corrupt SSNY files designated submitted as agent by clientof LLC or ads run under the wrong subheading. 19901. Purpose: any lawful activity. Delaware (DE) on 5/2/08. SSNY designat- 19901. Purpose: any lawful activities. LLC upon whom process against it may be upon whom process against it may be ed as agent of LLC upon whom process served. SSNY shall mail process to: P.O. Box Notice of Formation of LIZZANO REALTY served. SSNY shall mail process to princi- against it may be served. SSNY shall mail Notice of Formation of 23RD STREET, LLC. 1855, NY, NY 10021. Principal business LLC, a domestic LLC. Arts. of Org. filed pal business location: c/o Zachary process to principal business location: c/o Arts. of Org. filed with Secy. of State of location: 404 E. 66th Street, Apt. 8L, NY, NY with the SSNY on 03/17/08. Office loca- Crain's Classified is not responsible for corrupt files submitted by client or ads run under the wrong subheading. Crain's10065. Purpose: Classified Any lawful is not activity. responsible for corrupt files submitted by client or ads run under the wrong subheading. Karabell, 121 W. 72nd St., NY, NY 10023. Crain'sFintech Advisory Classified Inc., is375 not Park responsible Ave., Ste. forN.Y. corrupt (SSNY) files on 2/14/05. submitted Office bylocation: client or ads run under the wrong subheading. tion: NY County. SSNY has been designat- Purpose: any lawful activity. NY County. SSNY designated as agent of 3804, NY, NY 10152. DE address of LLC: Notice of formation of C. Anson Hedges ed as agent upon whom process against LLC upon whom process against it may 2711 Centerville Rd., Ste. 400, Wilmington, Designs LLC. Arts. of org. filed with Secy. the LLC may be served. SSNY shall mail a Notice of Formation of L & L Realty Holdings be served. SSNY shall mail process to: DE 19808. Arts. of Org. filed with DE Secy. Of State of N.Y. (SSNY) on 5/23/08. Office copy of process to: The LLC, 145 East LLC. Arts. of Org. filed with Secy. of State of c/o Gilbride, Tusa, Last & Spellane LLC, of State, 401 Federal St., Dover, DE 19901. location: New York County. SSNY designat- 116th St., Ste. 3, NY, NY 10029. Purpose: Crain's Classified is not responsible forN.Y. corrupt (SSNY) fileson 6/3/08. submitted Office location: by client NY or ads run under the wrong subheading. Crain's708 Third Classified Avenue, 26th is Fl., not NY, responsible NY 10017. for corrupt files submitted by client or ads run under the wrong subheading. Purpose: any lawful activity. ed as agent of LLC upon whom process Any Lawful Purpose. County. SSNY designated as agent of LLC Purpose: any lawful activity. against it may be served. SSNY shall mail upon whom process against it may be Substance of Registration as a Registered Notice of Qualification of MSLOF I, L.L.C. served. SSNY shall mail process to: c/o Limited Liability Partnership of GERMAN Notice of Formation of Limited Liability process to: 66 Madison Avenue, #2B, NY, NY 10016. Principal business location: Authority filed with Secy. of State of N.Y. Moses & Singer LLP, Attn: Daniel S. Rubin, RUBENSTEIN LLP (LLP). Certificate of Company (LLC): Egan Wealth Group LLC. (SSNY) on 4/30/08. Office location: NY 405 Lexington Ave., NY, NY 10174. Purpose: Registration filed with the Secy. of State of Articles of Organization filed with the Sec. 66 Madison Avenue, #2B, NY, NY 10016. Purpose: Any lawful activity. 1028885 w.o. County. LLC formed in Delaware (DE) on any lawful activity. Crain'sN.Y. (SSNY) Classified on May 21, is 2008. not responsible Office loca- forof corrupt State of NY files (SSNY) submitted on May by6, 2005. client or ads run under the wrong subheading. 4/3/08. SSNY designated as agent of LLC Crain's Classified is not responsible for corrupt files submitted by client or adsNY runoffice under location: the New wrong York subheading.County. Notice of Qualification of Woodbine Capital tion: New York County. SSNY designated Notice is hearby given that a license, upon whom process against it may be SSNY designated agent to serve process. Management LLC. Authority filed with NY as agent of LLP upon whom process serial number 1210566 for beer and served. SSNY shall mail process to: c/o Crain'sSSNY shall Classified mail a copy is of not process responsible vs. for corrupt files submitted by client or ads run under the wrong subheading. Dept. of State on 5/19/08. Office location: against it may be served. SSNY shall mail wine has been applied for by the under- CT Corporation System, 111 8th Ave., NY, LLC c/o the LLC to 481 Eighth Avenue Crain's Classified is not responsible for corrupt files submitted by client or ads run under the wrong subheading. NY County. LLC formed in Delaware (DE) process to c/o The Partnership, 200 West signed to sell beer and wine at retail in a NY 10011, registered agent upon whom 1549, New York, NY 10001. Purpose of on 5/6/08. NY Secy. of State designated as 70th Street, Suite 8B, New York, NY restaurant under the Alcoholic Beverage process may be served. Principal office of the LLC: any and all lawful activities. agent of LLC upon whom process against 10023. Purpose: is the practice of law. Control Law at 263 W. 30th St New York, LLC: 1585 Broadway, 37th Fl., NY, NY it may be served and shall mail process to 10036. Cert. of Org. filed with DE Secy. of Notice of Qualification of Canoe Ventures, HIMMA LLC, Articles of Org. filed N. Y. NY 10001 for on premises consumption. the principal business address: 900 3rd State, 401 Federal St., Ste. 4, Dover, DE Crain's Classified is not responsible for corrupt files submitted by client or adsLLC. run Authority under filed the with wrong NY Dept. subheading. of State Sec. of State (SSNY) 24th day of April, Buddha Foods, Inc. dba Mooncake Foods Ave., Ste. 202, NY, NY 10022. DE address 19901. Purpose: all lawful purposes. on 6/6/08. Office location: NY County. 2008. Office in New York Co. at 131 Notice of formation of Culinary Tech of LLC: c/o The Corporation Trust Co., Principal business address: 333 3rd Ave., Varick Street, Suite 1026, New York, New 1209 Orange St., Wilmington, DE 19801. Center, LLC. Arts. of Org. filed with the Notice of Formation of Rottet Architecture NY, NY 10010. LLC formed in Delaware York 10013. SSNY design. agt. upon Sect’y of State of NY (SSNY) on and Design Studio, NY, PLLC. Arts. of Arts. of Org. filed with DE Secy. of State, (DE) on 4/1/08. NY Secy. of State designat- whom process may be served. SSNY shall 6/13/2008. Office location, County of Org. filed with NY Dept. of State on P.O. Box 898, Dover, DE 19903. Purpose: Crain'sed as agent Classified of LLC upon is notwhom responsible process for corrupt files submitted by client or ads run under the wrong subheading. mail copy of process to 131 Varick Street, New York. The street address is: 424 6/5/08. Office location: NY County. any lawful activity. against it may be served and shall mail Suite 1026, New York, New York 10013. West 33rd Street, Ste. 240, New York, NY Principal business address: 1540 Kirby process to: c/o CT Corporation System, Notice of Formation of Elyse Pasquale Reg. Agt. upon whom process may be 10001. SSNY has been designated as Dr., Houston, TX 77019. Secy. of State 111 8th Ave., NY, NY 10011, registered Crain'sProductions, Classified LLC. Arts. is of not Org. responsible filed with for corrupt files submitted by client or adsserved: run underSpiegel the& Utrera, wrong P.A., subheading. P.C. 1 designated as agent of PLLC upon whom agent upon whom process may be served. agent to the LLC upon whom process Secy. of State of NY (SSNY) on 8/6/07. Maiden Lane, NYC 10038 1 800 576-1100 process against it may be served and DE address of LLC: c/o The Corporation against it may be served. SSNY shall mail Crain's Classified is not responsible forOffice corrupt location: files NY submitted County. Princ. by bus. client or ads run under the wrong subheading. Purpose: Any lawful purpose. shall mail process to: c/o CT Corporation Trust Co., 1209 Orange St., Wilmington, process served to: The LLC, 424 West loc.: 230 E. 18th St., NY, NY 10003. SSNY 33rd Street, Ste. 240, New York, NY System, 111 8th Ave., NY, NY 10011. DE 19801. Arts. of Org. filed with DE Secy. Notice of Formation of Reade Street Studio, designated as agent of LLC upon whom 10001. Purpose: any lawful activity Purpose: practice architecture. process against it may be served. SSNY of State, 401 Federal St., Dover, DE 19901. LLC. Article of Organization filed with the shall mail process to: Levine Plotkin & Purpose: any lawful activity. Secretary of State NY(SSNY) on 9/04/2007. Menin, LLP, 1740 Broadway, 22nd Fl., NY, Office location New York County. SSNY NY 10019. Purpose: any lawful activity. Notice of Formation of Raglan Plaza has been designated as agent upon whom 1938, LP. Cert. filed with NY Dept. of process against it may be served. The Post Notice of Qualification of Talos Investment State on 4/15/2008. Office location: NY Office address to which the SSNY shall mail Management LLC. Authority filed with NY County. Secy. of State designated as a copy of any process against the LLC Dept. of State on 6/16/08. Office location: Crain'sagent of LP Classified upon whom is notprocess responsible against forserved corrupt upon files him/her submitted is C/O the LLC by client103 or ads run under the wrong subheading. NY County. Principal business address: it may be served and shall mail process Reade Street, 4th Floor. New York NY 570 Lexington Ave., NY, NY 10022. LLC Crain's Classified is not responsible forto: corrupt The LP, filesc/o Windels submitted Marx Lane by client& or ads10013. run Date under of Dissolution: the wrong N/A. subheading. Purpose of formed in Delaware (DE) on 6/14/07. NY LLC: to engage in any lawful act or activity. Mittendorf, LLP, 156 W. 56th St., NY, NY Secy. of State designated as agent of LLC Street address of Principal business upon whom process against it may be 10019, Attn: Edward P. Nolan, Esq. location is: 103 Reade Street, 4th Floor. served and shall mail process to: c/o CT Name/address of genl. ptr. available from New York, NY 10013. Crain's Classified is not responsible forCorporation corrupt files System, submitted 111 8th Ave., by clientNY, NY or adsSecy. run of under State. Term: the wrong until 4/1/2108. subheading. 10011, registered agent upon whom Purpose: any lawful activity. Notice of Formation of AGARWAL REALTY, process may be served. DE address of Crain's Classified is not responsible forLLC. corrupt Arts. of files Org. submittedfiled with NY byDept. client of or ads run under the wrong subheading. LLC: 1209 Orange St., Wilmington, DE Notice of Qualification of Wolfensohn Capital State on 5/9/08. Office location: NY Partners Holdings, L.P. Authority filed with 19801. Arts. of Org. filed with DE Secy. of County. Secy. of State designated as agent Secy. of State of NY (SSNY) on 4/17/08. State, 401 Federal St., Dover, DE 19901. of LLC upon whom process against it may Office location: NY County. Princ. bus. loc.: be served and shall mail process to: 30 Purpose: any lawful activity. 1350 Ave. of the Americas, Ste. 2900, NY, Fieldstone Court, New City, NY 10956. HOUSEHOLD NAME, LLC, a foreign NY 10019. LP formed in Delaware (DE) on 4/7/08. SSNY designated as agent of LP Purpose: any lawful activity. Limited Liability Company (LLC) filed with upon whom process against it may be the Sec of State of NY (SSNY) on 8-9-07 served. SSNY shall mail process to: c/o NOTICE OF FORMATION of JCP VENTURES using the fictitious name HOUSEHOLD Corporation Service Company (CSC), 80 LLC. Arts. Of Org. filed with Secy. Of State NAME TEXAS, LLC. NY office Location: State St., Albany, NY 12207, registered agent of N.Y. (SSNY) on 6/17/08. Office loca- New York County. SSNY is designated as upon whom process may be served. DE tion: New York County. SSNY designated agent upon whom process against the address of LP: c/o CSC, 2711 Centerville as agent of LLC upon whom process LLC may be served. SSNY shall mail a Rd., Ste. 400, Wilmington, DE 19808. against it may be served. SSNY shall mail copy of any process against the LLC Name/address of each genl. ptr. available process to: 400 E 70th St., Suite 803, NY, served upon him/her to Bob Johnson, 400 from SSNY. Cert. of LP filed with DE Secy. of NY 10021. Principal business location: N. Loop 1604, Ste 202, San Antonio, TX State, 401 Federal St., Dover, DE 19901. 400 E 70th St., Suite 803, NY, NY 10021. 78232. General purposes. Purpose: any lawful activity. Purpose: Any lawful activity

June 30, 2008 | Crain’s New York Business | 25 CNYB 06-30-08 A 26 6/26/2008 2:34 PM Page 1

REAL ESTATE DEALS

parties involved in the deal would MetLife puts big block on market comment. —theresa agovino

Chase,Citibank,Lehman Brothers, company is slated to begin the move expiration dates on both leases,”says Insurer scales back Nomura, The Royal Bank of Scot- at year’s end. Kenneth Rapp of CB Richard Ellis, Iron Chef adviser on midtown office, land and Bank of America,are seek- —theresa agovino who represented the tenant. cooks up deal ing to sublease large amounts of Alex Cohen of Cushman & adding to space space. That added supply is expect- Wakefield negotiated for the land- archipelago is bringing a new ed to put pressure on prices. HR firm expands lord in the direct-lease deal. recipe to downtown New York. The already on offer MetLife announced in 2006 that in Times Square Renovations are expected to be bistro, which will specialize in Japa- it would relocate some employees to finished in September, according to nese-French fusion cuisine, recently efore it has even moved the midtown tower from its site in it’s not surprising that Chicago- a spokeswoman for Hewitt. signed a 12-year lease for 333 Hudson in, Metropolitan Life Long Island City, Queens. The based Hewitt Associates, a human —damian ghigliotty St., at Charlton Street. Insurance Co. is looking resources consulting and outsourc- The space includes 3,500 square to sublease some of its ing firm whose tagline is “our busi- feet on the ground floor and a 2,000- 410,000 square feet—12 ness is people,” has taken a liking to Hedge funds thick square-foot basement. Asking rent Bfull floors—at 1095 Sixth Ave.,be- Times Square. at landmark for the ground floor was $61.71 a tween West 41st and West 42nd To house its growing New York square foot. streets. staff, Hewitt recently signed a lease another hedge fund is planting “We still have sushi and typical The move makes the insurer the expanding its space at 1500 Broad- its roots in the Seagram Building. Japanese food, but we added French latest of several firms dumping sub- way, between West 43rd and West Bay Harbour Management has just concepts as well,” says Michiko lease space onto the market. 44th streets, by about 67%. The signed a 10-year lease for 17,500 Okada, a partner in Archipelago A spokesman for MetLife says company will take another 12,851 square feet at the midtown tower, and a broker at Okada Internation- that the company hasn’t determined square feet, the entire 29th floor of according to real estate sources. al, which represented the tenant. how much space it will rent out, but the 33-story tower. The fund will move to the 20th The new spot’s chef and princi- brokers estimate the total at 100,000 The six-year lease was arranged floor at 375 Park Ave. in the fourth pal owner, Hisanobu Osaka, was a to 150,000 square feet. through the building’s owner, pri- quarter. Asking rents at the build- consultant on the Food Network’s Subleasing represents a “good fi- vate investment group Tamares. ing,which is between East 52nd and Iron Chef. nancial opportunity” for MetLife, The asking rent was $88 a square East 53rd streets, are $160 to $190 a Archipelago is Mr. Osaka’s first the spokesman adds. foot. Hewitt already occupies square foot, the sources say. Bay restaurant. Roberto Camacho, a Asking rents in the building, 19,000 square feet on the 30th and Harbour is now at 885 Third Ave. broker with Buchbinder & Warren which is owned by the Blackstone 31st floors under a sublease deal CB Richard Ellis Inc. brokers Realty Group, represented landlord Group, are between $125 and $150 with Nasdaq. Ben Friedland and Silvio Petriello, Whitehall Archives. The bistro is a square foot. “The people at Hewitt really like negotiated for the tenant. Building expected to open by the end of the A number of large companies, 1095 SIXTH AVE. is owned by the Blackstone the building,and the owner was very owner RFR Realty represented it- summer. including Pfizer Inc., J.P. Morgan Group. accommodating in matching up the self in the transaction. None of the —adrianne pasquarelli

With Warmest Appreciation

Parker Jewish Institute for Health Care & Rehabilitation RECOGNIZES ITS 2008 HONOREES FOR THEIR UNWAVERING COMMITMENT AND SUPPORT.

Judy and Mike Norman A. Schefer Musiker Robert M. Goldberg Musiker Teen and Discovery Tours The Fay J. Lindner Foundation 16th Annual Golf Classic 2008 Annual Gala July 14, 2008 | Glen Oaks Club September 22, 2008 | The Pierre

Hon. Louis L. Levine, LHD Stephan L. Kamholz, MD, MACP, FCCP Jeffrey P. Rosenfeld, PHD President and Chief Executive Officer Chairman of the Department of Medicine Director of Gerontology Program New York College of Podiatric Medicine Long Island Jewish Medical Center Hofstra University and North Shore University Hospital

Thank you for making our 12th Annual Dinner Dance and Celebrity Auction on June 3rd a great success.

Parker Jewish Institute for Health Care & Rehabilitation 271-11 76th Avenue • New Hyde Park, NY 11040-1433 • www.parkerinstitute.org For further event details call (718) 289-2143.

26 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 27 6/27/2008 9:42 AM Page 1

BUSINESS TABLE TALK Word gets out on hidden NoLIta wine room PAGE 31 buck ennis

GOTHAM GIGS Music man PETER PRIMONT, 59, is the man behind the tunes. As president of Cherry Lane Music Group, Mr. Primont runs one of the fastest-growing independent music publishers. It represents hundreds of artists and corporations, from Elvis Presley to DreamWorks Pictures. UNUSUAL ENTRANCE Mr. Primont joined Cherry Lane in 1985 with a background in computer science and business administration. “It didn’t matter that I had no music experience,” he says. “I approached it like any other business and hired experts for the technical aspects.” SMART LUCK The executive has made major strides, adding six offices worldwide and establishing an educational nonprofit. “A lot came as luck,” he says. “We acquired the rights to Pokémon, and the company just exploded from there.” EXPERT HELP With the help of his 72 staffers Mr. Primont has mastered the industry. What’s next? Cherry Lane has agreed to create music for the Hello Kitty brand. —amanda wheat EXPERT OPINIONS SCHOOL’S OUT, AND IT’S HOT! what to do with the kids? Bowling is a great family hal mayforth activity when it’s 90 degrees. It doesn’t matter how skilled you are. Bowery Poetry Club has a lot of programming for children. Sunday afternoon shows include plays, concerts and minicircuses, and kids are City of summer delights encouraged to get involved. Tickets are $10. Firehouses are universally welcoming of With so much to do, why leave town? THE GREAT OUTDOORS children and families.They let FREE CONCERTS AND EVENTS WEB SITE kids try on gear and sit in the BY ADRIANNE PASQUARELLI truck. Another way to Broadway in Bryant Park www.bryantpark.org beat the heat is a ride ith gas prices rising daily and airlines piling on the surcharges, Lincoln Center, on the Staten Island local public transport might be an appealing alternative to road trips Damrosch Park www.lincolncenter.org Ferry. Great views of Metropolitan Opera Liberty and Ellis and exotic destinations this summer. Why spend a bundle to leave in Prospect Park www.prospectpark.org islands, and plenty of the city when there’s so much to do right here? New York has all the Pool parties at room for kids to run attractions the best vacations offer: free concerts, scenic rooftop bars McCarren Park www.mccarrenpark.com around. —maureen shelly and even camping grounds, to name just a few. Stand by as Crain’s River to River Festival www.worldfinancialcenter.com Editor in chief takes its annual ride through the boroughs, highlighting unusual Summer on the Hudson www.nycgovparks.org Time Out Kids activities for each week of the sunny season. Continued on Page 28 Summerstage in Central Park www.summerstage.org istockphoto W June 30, 2008 | Crain’s New York Business | 27 CNYB 06-30-08 A 28 6/27/2008 9:44 AM Page 1

BUSINESS LIVES

check out the more than 20 com- and ride the No.6 train to the Long- puter exhibits simulating sports ac- wood Avenue stop; the pool is just a tion. short walk.It’s open from 11 a.m.to Admission is $20 to $27 for 7 p.m.daily and is free.For informa- adults and children,and free for kids tion, visit www.floatingpool.org. under 4. The museum is at 26 Broadway. For information, call (888) 762-8587. Week of Aug. 18 Things that go Week of Aug. 4 bump in the street No fuss, no muss ow much do you really know DAY-TRIPPER: Just a few minutes from lower Manhattan, Governors Island offers miles of bike trails and free concerts. camping grounds about the city’s spooky side? HAugust may be the dog days,but his is prime time Week of June 30 admission is $7.50 for adults and $5 the City of New York. The 90- to for camping and for children. For reservations, call 120-foot structures are under the Tcookouts. At Al- A quick ferry ride, (718) 372-5159. Brooklyn Bridge, between Piers 4 ley Pond Park, a 655- then a bike ride and 5 in Brooklyn Heights, at Pier acre recreational area 35 in Manhattan and at Governors spanning Little Neck ealth professionals agree Week of July 14 Island. Each exhibit operates daily Bay to Springfield that biking is a fun way to im- from 7 a.m. to 10 p.m., with special Boulevard in Queens, Hprove fitness and physique. From saltwater bath lighting after sunset. the Urban Park Consider pumping pedals on breezy to watering hole Touring is essential to get the full Rangers host Family Governors Island, then rewarding effect. South Street Seaport Muse- Camping on week- yourself with a free outdoor concert. eat the heat and get a healthy um operates daily excursions at ends. This free pro- The historic 92 northern acres of glow at a spa. Cornelia Day Re- noon and 1:30 p.m. on its vintage gram includes almost

the island offer more than two miles Bsort on Fifth Avenue and 52nd tugboat, W.O. Decker. Tickets start all required items, schenck timothy of bike trails,and a couple of round- Street offers facials, massages and at $35; (212) 748-8786. Circle Line from tent to hot dogs VICTORY LAP: The Floating Pool opens for the second year. trips makes for an excellent cardio algae wraps, along with a flute of Downtown offers daily trips almost to marshmallows for workout. bubbly or a cup of aromatic tea. on the hour by cruise ship and making s’mores. The Free ferries make the five- Prices start at $175 speedboat. Tickets only thing a camper in the cool of the evening, you can minute trip between the island for massages and are $10 to $25 for needs to bring is a further your understanding of olde and the Battery Maritime $195 for facials. A adults and $5 to sleeping bag. Gotham with Ghosts of New York Building in lower Manhattan salt water soak in $15 for children; Formed by a gla- Walking Tours. on Fridays through Sun- the Watsu pool on (866) 925-4631. cier 15,000 years The weekly jaunts are filled with days. Rentals at Bike and the roof coaxes And trips on New ago, Alley Pond of- tales of skeletons in the Big Apple’s Roll, near the island fer- every muscle into re- York Water Taxi fers a diverse land- closet. On the night of Aug. 23, ry stop, run $5 for 30 laxation. are priced at $20 scape of wetlands, channel the spirits of Edgar Allan minutes. For a list of services, for adults and $12 forests and mead- Poe, Peter Stuyvesant, Nellie Bly For concerts, July 5 go to www.cornelia.com. for children; call owlands,all accessi- and Harry Houdini on the Green- is a banner day: Janis After unwinding, (212) 742-1969. ble by hiking paths. wich Village tour. Ian headlines the Folks walk three blocks up Fifth Don’t forget the Discover haunted locales, para- on the Island festival at to the Peninsula New York camera. A rope-ad- normal occurrences and unexplain- 1:30 p.m., and The hotel and check out its Week of July 28 venture course is able instances straight out of fa- New York Philhar- rooftop terrace, the Salon de also available free vorite ghost stories. monic Orchestra per- Ning. The chic bar, which Boning up on Sundays. For The tours last about 90 minutes, forms at 6:30 p.m. opened in May, boasts Chi- on sports reservations, which cost $15 to $20 and cover less than For more informa- nese-style daybeds, impressive are necessary, call a mile. Call (718) 591-4741 for tion, including a ferry views and signature cocktails history (718) 217-6034. reservations. schedule, visit www. like the lychee-infused Ning govisland.com. Sling. ook out, fans; there’s a new Week of Aug. 11 Week of Aug. 25 Lgame in town. Week of July 7 Week of July 21 The Sports Muse- Refreshing A less costly day dogra/www.flickr.com um of America, mobile at the ballpark The last truly Who needs which opened in dept. avila/nyc & recreation daniel parks of amazing Niagara or May in lower VERTICAL APPROACH: Queens’ Alley break an’t get out to a last Mets or BELIEVE IT: Barker Manhattan, high- Pond Park has family-friendly fun. Yankees game before the old show touts the Coney Island Iguazú? lights momentous verybody in the Cstadiums disappear? Take the Circus Sideshow. occasions and rec- pool—the ferry over to watch the Staten Island oney islandcould o experience the great ord-setting triumphs in the coun- EFloating Pool, Yankees,the Bronx Bombers’minor soon morph into a major devel- outdoors without leaving try’s rich athletic history.It’s packed that is. The city’s only movable league team. Copment with new hotels and Tthe urban landscape, try a with more than 600 artifacts, in- swimming spot opened for its The season ends the shopping centers, so this might be trip to a man-made wonder. Every- cluding the original Heisman Tro- second year on June 27. weekend after Labor your last chance to see the amuse- one’s buzzing about Danish artist phy, and 1,100 photos. Designed to serve com- Day, so hurry. Tickets, at ment park in all its kitschy glory. Olafur Eliasson’s four waterfalls in Those who have ever wondered munities that don’t have a maximum of $13, are still Avoid the crowds who flock to New York Harbor, a project pre- what it would be like to be a goalie such facilities, the 25- available on Ticketmaster. Coney for Nathan’s Famous’ hot- sented by the Public Art Fund and in hockey or a race-car driver can meter pool was built by And if rooting for the dog-eating contest on the Fourth of the nonprofit Neptune home team gets you July by going the following week. Foundation in an 80-by- too wound up, you For a walk on the quirky side, 260-foot steel barge. The can regain your inner bring the family to the Coney Island structure also includes calm at the Zen Circus Sideshow,in a historic build- locker rooms, a spray pool Community of Staten ing at the corner of Surf Avenue and for children, showers and a Island, at the Mount West 12th Street.Cast members in- snack bar. Manresa Jesuit Retreat clude sword-swallower Heather The Floating Pool pre- House. Holliday and “Twisted Shockmeis- miered last year in the East The S52 bus goes ter” Scott Backer, who does levita- River below Brooklyn right there. Sitting tions and other eye-popping tricks. Heights and hosted 50,000 meditations are held The Sideshow, which also boasts swimmers. This summer, it’s every Tuesday the Freak Bar and a gift shop,is open docked at Barretto Point Park evening. Go to www. until 8 p.m. on weekdays and 9 p.m. in the Bronx. So grab your suit zencommunitysi.org. on weekends.Take the D, F,N or Q line to the Stillwell Avenue stop. SHORT STOP: Meet Scooter, the mascot COMMENTS? APasquarelli Performances run about 45 minutes; FOUR WONDERS OF THE WORLD: Olafur Eliasson’s Waterfalls is best viewed by boat. of the Staten Island Yankees. @crainsnewyork.com

28 | Crain’s New York Business | June 30, 2008 CNYB 06-30-08 A 29 6/26/2008 1:56 PM Page 1

BUSINESS LIVES CORPORATE LADDER Ted Mathas Keeping good company Young New York Life chief operating officer. Before that, he led the asset management busi- PERSONNEL FILE veteran takes over ness and the brokerage unit,and was co-head of U.S. insurance opera- COMPANY New York Life CEO post while tions. Insurance Co. The only thing he hasn’t done at TITLE Chief executive insurer’s flying high New York Life is sell insurance— odd, considering that the heart of AGE 41 BY AARON ELSTEIN the 163-year-old company is a sales RÉSUMÉ Senior positions at force of 10,000 agents who pitch insurer since 1995 ed mathas becomes policies at kitchen tables. chief executive of New HOMETOWN Norfolk, Va. York Life Insurance Co. Product passion FAVORITE RESTAURANT Patroon on Tuesday, at a time his former boss doesn’t think that when “the company you hole in Mr. Mathas’ résumé will be Tkeep” has never been stronger. an issue.“He performed at every po- a flat-screen TV,” he says. “But I His predecessor, Sy Sternberg, sition we put him in exceedingly know what life insurance can mean who is retiring after 11 years on the well and, more importantly, gained for people, because I know what it job, has guided New York Life to the respect of those who worked for meant for me.” record profitability while deftly him,” Mr. Sternberg says.“I came to New York Life’s operating in- steering clear of the credit crisis. the conclusion three years ago that come has grown by more than 50% It’s now up to Mr. Mathas to he could be my successor.” over the past five years, to $1.3 bil-

maintain that success. Mr. Mathas speaks with such lion in 2007; funds available to pay neff david “I know I’ve got big shoes to fill,” energy that it’s easy to overlook the claims rose by more than $800 mil- he says. “But if you’re going to have fact that he’s talking about some- lion last year, to nearly $15 billion. year,and Mr.Mathas proudly points and marketing additional products a challenge, this is the way you want thing as ho-hum as life insurance. The insurer avoided the effects of out that his company has the high- to its 6 million policyholders. it.” His passion for the product lies in the credit crisis by having invested est possible score from all four insur- Mr. Mathas sees particular op- At 41, Mr. Mathas, is one of the the fact that it helped launch him in customer funds in no-risk Treasury ance-rating firms. portunities in annuities for cus- youngest CEOs at a major financial life: Mr. Mathas’ father borrowed bonds just before the wave of mort- tomers who are looking for guaran- services company. He soared to the against his policy to pay for his son’s gage delinquencies and defaults Growth markets teed income streams as they get top after just 13 years at the nation’s education at Stanford University. swamped its competitors. continuing New York Life’s older. largest mutually held insurer, most “Of course I get that it’ll never be Standard & Poor’s upgraded growth will require expanding op- recently serving as president and as much fun to buy life insurance as New York Life’s rating to AAA last erations in select markets overseas COMMENTS? [email protected]

EXECUTIVE MOVES

ADVERTISING & COMMUNICATIONS president, group insurance. joined as partner. He was formerly partner Clickable Inc.: Jonathan Betz, 31, was Park Avenue Funding: Elliot Neumann, at Moses & Singer. HOT JOBS named senior director of engineering. He 32, was named chief operating officer. He Thompson Hine: Barry M. Kazan,39, was formerly engineering manager at had been vice president, acquisitions and joined as partner. He had been member at Google. development, at Comerica Development Epstein Becker & Green. WANTED: CHIEF JUDGE Maxine Friedman, 34, joined as senior Group. director of business development. She had Ramius Fund of Funds Group: Vikas MEDIA & ENTERTAINMENT ORGANIZATION New York State Court of Appeals been vice president, media and marketing, Kapoor, 37, was appointed managing Broadband Enterprises: Steve Yanovsky, at BrandIntel. director and head of risk management. He 52, was named vice president of marketing, JOB DESCRIPTION A 14-year term as head of the state’s highest Bill Masterson, 33, joined as senior had been managing director at Arden a new position. He was formerly an court and the entire court system director of sales. He was formerly group Asset Management. independent marketing consultant. MOST IMPORTANT TASKS Presiding over appellate cases, manag- manager at Google. Securities Industry and Financial Markets Getty Images: Kristen Wilkie, 31, was Sandeep Sahi, 31, was appointed senior Association: Frank W. Baier, 43, was named manager of publicist relations. She ing the court’s operations and acting as its primary spokesperson director of engineering. He had been an appointed chief financial officer and chief was formerly a senior publicist at CREDENTIALS NEEDED 10 years’ membership in the New York architect and tech lead at Microsoft. administrative officer. He was formerly a Estabrook Group. State Bar Association, excellent legal abilities, and strong adminis- Invision Inc.: Health magazine: Michael Stoeckel, 41, was consultant at Meridian Capital Group. Renee Tulenko,36,was trative and management skills; liberal political views a plus named vice president of digital products. United Western Bank: David Nayor, 32, promoted to vice president and publisher of He had been vice president, advertising joined as senior business development the Time Inc. title from associate publisher. SALARY $156,000 innovations and operations, at Fox officer. He was formerly vice president and Nickelodeon/MTVN Kids and Family Interactive Media. national accounts manager at Business Group: Kyra Reppen, 44, was promoted to RECRUITER New York State Commission on Judicial Nomination Pierce Mattie Public Relations: Serge Loan Express. senior vice president and general manager, UPSIDE Filling the most influential seat in the state’s highest court Gurin, 33, was promoted to president and family virtual worlds group, a new position, system continues as chief operating officer. LAW from senior vice president and general Allen & Overy: Douglas J. Landy, 40, was manager, Neopets. DOWNSIDE Dealing with a Legislature that has blocked virtually ARCHITECTURE & DESIGN named partner. He was formerly partner at Dave Williams, 41, was promoted to senior every reform suggested by the current, highly respected chief judge Array Healthcare Facilities Solutions: Cadwalader Wickersham & Taft. vice president and general manager, family Solomon Tuller, 60, was named project Harris Beach: Allen E. Molnar,56, games group, a new position, from senior Judith Kaye will retire in December, when she reaches the Court of manager. He was formerly a project rejoined as partner. He had been vice president and general manager, Appeal’s mandatory retirement age of 70. The Commission on manager at Johnson Jones Architects shareholder at Buchanan Ingersoll. Shockwave and AddictingGames. Judicial Nomination will begin vetting applicants in September and Planners. Kirkpatrick & Lockhart Preston Gates Ok! magazine: Katie Caperton, 28, was will select seven candidates. Gov. David Paterson will choose the Hunter Roberts: Chris Carpenito, 34, was Ellis: Philip M. Cedar, 55, joined as promoted to executive editor from deputy appointee within the first two weeks of January. named senior vice president and director of partner. He had been a senior managing editor. —DAMIAN GHIGLIOTTY finance. He was formerly vice president director at Bear Stearns. Rob Shuter, 32, was promoted to executive and controller at Turner Construction. Orrick Herrington & Sutcliffe: Howard editor from deputy editor. Mark A. Lamble, 43, was promoted to Altarescu, 59, joined as partner. He was Rainbow Media: Jay DiGiovanni, 49, was senior vice president, preconstruction formerly vice president of mortgage promoted to senior vice president and services, from vice president, director of finance capital markets at Goldman general manager of PVI virtual media preconstruction. Sachs. services from vice president of PVI product at Horizon. chief financial officer. Colleen Rugg, 30, was promoted to Patton Boggs: Peter S. Smedresman,56, design and development. Keith Keppler, 56, was named principal. director of corporate communications from WLTW, 106.7 Lite FM: Bernhard Weiss,36, He had been a principal at Horizon. SERVICES marketing manager. was promoted to general sales manager Massey Knakal: Mitchell Levine, 36, Weight Watchers International Inc.: Dana EXECUTIVE PROMOTIONS from local sales manager. joined as a real estate analyst. He was Kuperman, 38, was named director of FINANCE & INSURANCE The fastest way to get an announcement into formerly an associate at Zenta Capital licensing business development, a new Guardian Life Insurance Co. of America: Crain’s is to submit details online. Fill out the form REAL ESTATE Markets. position. She had been regional director of K. Rone Baldwin, 49, was promoted to at www.crainsnewyork.com/submit. The CresaPartners: Kent Holliday, 41, was Stonehenge Partners: Steven Vissichelli, international projects at Sesame Workshop. chief operating officer from executive vice Executive Moves column is also available online. named principal. He had been a principal 54, was promoted to chief executive from —sarah studley

June 30, 2008 | Crain’s New York Business | 29 Project1 6/27/08 9:54 AM Page 1 CNYB 06-30-08 A 31 6/27/2008 3:32 PM Page 1

BUSINESS LIVES TABLE TALK by Bob Lape reception podium. Decorative de- ed sips with the eel. tails include a wall of wine glasses, The tasting extravaganza’s sweet and oriental rugs traversed by a fast- finale may be a German beere- stepping waitstaff in suits. nauslese wed to pumpkin panna They take orders and deliver the cotta with sage ice cream. dazzling food/wine duets devised by Dinner at The Monday Room Messrs. Farmerie and Ramiro, who will provide plenty of happy conver- met while working at the Michelin sation all through the week. three-star Fat Pig outside London. The chef is from Pittsburgh, Mr. COMMENTS? [email protected] Ramiro from Spain’s wine-wealthy Ribera del Duero region. Together, they can knock your socks off. A Monday Room visit might be- gin with crispy glazed eel amid pick- led bean sprouts and topped with a soft-boiled quail egg, all of it served on a spoon. Or it might be an heir- loom tomato terrine packaged with crisp serrano ham, olive oil powder and cabernet sauvignon gastrique. The menu is brief, with perhaps a dozen items, but the creativity quo- tient is towering. A few scraps of raw Tasmanian sea trout are accented with piccalilli and shichimi, a Japanese seven- THE MONDAY spice blend. A custard of dashi—a ROOM at PUBLIC Japanese soup stock of bonito 210 Elizabeth St. flakes—is festooned with a salad of (between Prince and Spring streets) lobster, lime and caviar. Grilled (212) 343-7011 Kobe beef tongue is served with www.public-nyc.com baba ghanoush and quinoa flat- ###

catherine gibbons catherine bread; smoked venison carpaccio GRAPE NUTS: Rubén Sanz Ramiro (left) and Brad Farmerie of The Monday Room, where guests savor flights of fine wines. comes with licorice-pickled onions. CUISINE Wines and small-plate The kitchen revels in esoteric in- food gredients, employing such things as WINES 90 choices, 70 by the thistle and wattle, or acacia, seeds to glass good advantage. Beef short ribs are braised in miso and wattle seeds be- DRESS No code Wine-hideaway word is out fore garnishing with vanilla-per- NOISE LEVEL Moderate fumed celeriac purée and spiced PRICE RANGE $3.25-$18; five- The Monday Room but has no bar.It isn’t a tapas bar,but dishes that marry especially well broccoli rabe. does feature small portions of chef with specific wines, then you might If those delicacies read or sound course tasting, $45, with wines, in NoLIta pairs Brad Farmerie’s exciting, eclectic as well go Public. extraordinary, wait till you taste the $95 unusual vintages edibles, which are too sophisticated Chef Farmerie,who owns Public wines chosen to play best with them. WINE MARKUP 85%-200% to lump under any one heading. with design firm AvroKO, says The Mr. Ramiro has encyclopedic CREDIT CARDS All major Consuming food is not required; Monday Room is “growing organi- knowledge of and zest for off-the- with small delicacies many guests simply savor flights of cally,fueled by passion,”adding that beaten-path vineyards—often RESERVATIONS Recommended wines under the tutelage of wine di- “we can do things there that we small, artisanal ones. It might be a HOURS Monday-Thurs., 6 p.m.- t’s a challenge to rate The rector Rubén Sanz Ramiro. couldn’t on the commercial side.” syrah from northern Morocco, “be- midnight, Fri.-Sat., 6 p.m.-2 a.m. Monday Room because of The Monday Room isn’t even The result is a chef and grape nut’s tween Casablanca and Maroc.”The #### what it isn’t. new, but word of it has only slowly playground, and guests get to play short rib dish gets a crianza wine = Outstanding ###= Excellent It’s not a stand-alone res- seeped out since November 2006. with them. It’s fun. from Ribera del Duero, or a French ## taurant, but rather a hideaway And it isn’t for everyone. Unless you There are 25 seats on deep, Gevrey-Chambertin. Manzanilla = Very good #= Good Icomponent of the very popular Pub- are thrilled by fine service of ex- curved, black leather couches clois- sherry or a furmint wine from Hun- lic in NoLIta. It’s almost a wine bar, traordinary wines and exotic small tered in a quiet nook behind Public’s gary’s Tokaji region are the suggest-

THE WEEKS AHEAD

THIS WEEK’S EVENTS JULY 7-13 [email protected]. JULY 10 11 Penn Plaza, fifth floor. Fee: $50. JULY 2 JULY 7 JULY 9 Business Network International Wall (914) 788-5482 or [email protected]. Lower Manhattan Business Solutions Manhattan Review holds information Manhattan Chamber of Commerce and Street holds networking breakfast. JULY 16 Center holds seminar on running a session on M.B.A. admissions and the Commerce Bank hold breakfast. 8 a.m. 7 a.m. to 8:30 a.m., George’s Restaurant, Hodgson Russ holds seminar on state business at home. 2 p.m. to 5 p.m., 110 GMAT.7 p.m. to 8:30 p.m., 420 to 10 a.m., 582 Ninth Ave. Free. 89 Greenwich St., second floor. Fee: and city corporate tax developments. William St., fourth-floor conference Lexington Ave., suite 2310. Free. (212) 473-7805 or $19. (212) 661-4590 or 8:30 a.m. to 10:15 a.m., 1540 Broadway, room. Free. (212) 618-8914 or (212) 997-1660 or [email protected]. [email protected]. 24th floor. Fee: $45. (212) 751-4300 or [email protected]. [email protected]. JULY 9 [email protected]. JULY 2 JULY 8 Hodgson Russ holds seminar on trusts JULY 14-20 JULY 17 Five O’Clock Club holds seminar on State Bank holds seminar on protecting and estates. 8:30 a.m. to 10:15 a.m., 1540 JULY 15 New York Liberty holds networking getting interviews. 6:30 p.m. to lives, assets and reputations. 8 a.m. to 10 Broadway, 24th floor. Fee: $45. Manhattan Chamber of Commerce and reception. 5 p.m. to 7 p.m., Madison 8:30 p.m., 11 Penn Plaza, fifth floor. a.m., 780 Third Ave., conference-level (212) 751-4300 or Sterling National Bank hold networking Square Garden Club Bar and Grill, 4 Fee: $50. (914) 788-5482 or auditorium. Free. (212) 376-4329. [email protected]. reception. 6 p.m. to 8 p.m., Roger Smith Pennsylvania Plaza. Fee: $55 members, [email protected]. JULY 8 JULY 10 Hotel, 501 Lexington Ave. Fee: $15 $65 nonmembers. (212) 473-7805 or JULY 3 Pace University Small Business The Career Assistance Center holds members, $25 nonmembers. [email protected]. Business Network International Wall Development Center holds workshop networking reception under the stars. 6 (212) 473-7805 or —heather holland Street holds networking breakfast. on business planning. 5:30 p.m. p.m. to 8:30 p.m., 109 E. 50th St., room [email protected]. and sarah studley 7 a.m. to 8:30 a.m., George’s Restaurant, to 7:30 p.m., 163 William St. Free. 33/terrace. Fee: $20. (212) 501-8045 or JULY 15 89 Greenwich St., second floor. Fee: (212) 618-6655 or [email protected]. Lower Manhattan Business Solutions $19. (212) 661-4590 or [email protected]. JULY 10 Center holds seminar on legal structure TO LIST YOUR EVENT [email protected]. JULY 8 in business. 3 p.m. to 5 p.m., 79 John St., Caribbean Business Network and Power Listings can be submitted only through the Crain’s Glow International Group holds Network Series holds networking second-floor conference room. Free. Web site. To submit a calendar listing, go to More meetings online at seminar on business development reception. 7 p.m. to 9 p.m., Community (212) 618-8914 or [email protected]. www.crainsnewyork.com and click on “Events.” www.crainsnewyork.com strategies. 7 p.m. to 9 p.m., Regus, Bridge Home, 120-50 Springfield Blvd. JULY 16 Sponsors have a choice of several free or paid list- Click on “Events” 245 Park Ave., 39th floor. Fee: $10. Free. (718) 207-0635 or Five O’Clock Club holds conference on ing options. All business events will be posted (201) 484-7223 or [email protected]. interviewing. 6:30 p.m. to 8:30 p.m. online within two business days.

June 30, 2008 | Crain’s New York Business | 31 Project6 6/6/08 12:20 PM Page 1

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