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INSIDE THE LIST TOP STORIES LARGEST MINORITY- Retail pioneers OWNED decamp as COMPANIES meatpacking distict ® takes Ugg-ly turn PAGE 17 PAGE 2 The man VOL. XXVIII, NO. 18 WWW.CRAINSNEWYORK.COM APRIL 30-MAY 6, 2012 PRICE: $3.00 who saved the Knicks tells how he did it PAGE 3 Australian tourists are good on ya, NY. And yes, mate, that’s the dinky di PAGE 2 Fortune 500’s ‘bamboo ceiling’ persuades many Asian-Americans to start own firms PAGE 13 BUSINESS LIVES supertotto HERDS ON THE STREET day,while he and his colleagues deliver and retrieve Want to win the BY JEREMY SMERD packages by handcart to customers within a five- block radius.The sidewalk is their loading zone and GOTHAM GIGS battle for curbside There are 12,750 miles of sidewalk in New York City. their lobby. Violinist Sarah Mario Rincon’s piece is a 20-foot stretch on East “Every day you gotta be on point,” Mr. Rincon Charness thinks pink business? Get 43rd Street between Lexington and Third avenues. said. “If not, you’re gonna lose.” P. 21 That’s where he parks his FedEx Ground deliv- Private enterprise—legal and not—has always there first ery truck. Not temporarily, but every weekday, all See HERDS on Page 20 ● ANNE FISHER The inside story of how Gilt Groupe grew P. 21 ● GAEL GREENE Clyde Frazier’s f lashy new Zell bends on Banks see restaurant scores with comfort menu P. 23 union construction profit in INDEX rounding
NEW YORK, NEW YORK ______6 Chicago developer lands discount pact NEIGHBORHOOD JOURNAL ______7 with labor on Park Avenue South tower Under pressure, THE INSIDER ______8 midsize institutions SMALL BUSINESS ______9 er being developed by Mr. Zell’s BY DANIEL MASSEY Equity Residential on Park Av- VIEWPOINT ______10 stretching to please enue South and East 28th Street ALAIR TOWNSEND ______11 Sam Zell—organized labor’s bil- will be built with union labor, a CLASSIFIEDS ______18 lionaire bogeyman for the prolifer- building-trades source said. And BY AARON ELSTEIN
EXECUTIVE MOVES ______21 ation of nonunion construction in Mr.Zell is getting a discount:Lend bloomberg news
THE WEEK AHEAD ______23 the city—is going union. Lease, the construction manager SAM ZELL had been the target of protests With their profits under tremen- A $190 million residential tow- See ZELL on Page 17 by construction union members. dous pressure from a powerful combination of rock-bottom in- terest rates and sluggish loan de- 18
5 The mayor’s race, Wal-Mart, mand, a number of New York’s small and midsize banks are get- living wage—all in one Greg ting surprisingly creative with their ELECTRONIC EDITION David column. What more results. Consider the case of Astoria Fi- could anyone want? Page 11 nancial Corp., parent of Astoria NEWSPAPER See IN THE MARKETS on Page 4 71486 01068 0 20120430-NEWS--0002,0003-NAT-CCI-CN_-- 4/27/2012 7:52 PM Page 1
IN BRIEF Ugg! Tide of unstylish stores IN A BROADWAY YEAR WITHOUT ANY OBVIOUS CANDIDATES TO TAKE HOME BEST MUSICAL honors, Spider-Man:Turn Off the Dark is seen as a potential dark horse for the 2012 Tony sullies meatpacking’s status Award nominations, to be announced Tuesday morning. Unlike last year—when The Book of Mormon was the obvious front-runner—the field this time around is wide open. “None of Trendy pioneers who CHANGING PLACES IN MEATPACKING DISTRICT the new musicals have knocked any of the critics out, unfortunately,” said Ken Bloom, a put area on the map WHO’S MOVING OUT WHO’S MOVING IN Broadway historian. Since its infamously delayed opening last June, the $75 million getting squeezed out Spider-Man musical—a must-see for tourists— Alexander McQueen* Ugg has been selling out by its mall-ification Ⅲ many weeks. For the Stella McCartney Ⅲ Levi’s week ending April 22, Ⅲ Yohji Yamamoto Ⅲ Sephora BY ADRIANNE PASQUARELLI the show grossed $1.44 Ⅲ Rubin & Chapelle Ⅲ Kiehl’s million, 80% of its Ⅲ maximum potential. The cleaver may be coming down on the Adam Ⅲ Coach* “Based on consistent meatpacking district’s brief reign as the Ⅲ Jussara Lee Ⅲ Patagonia* robust sales and the city’s capital of cutting-edge fashion. Last Ⅲ Shelly Steffee Ⅲ J.Crew* overwhelming positive feedback from our week, famously unfashionable Ugg, whose groups, Spider-Man could definitely take home ubiquitous shearling-lined suede boots are Best Musical,” said Stephanie Lee, president of seen by many as the antithesis of high fash- *According to sources. Companies have not confirmed. Group Sales Box Office. Other new musicals ion,announced it would be opening a store that have a good chance at Tony honors, on West 14th Street, in the heart of the observers said, are Newsies, the hit Disney neighborhood. sisting that the meatpacking district is still the home of such trendy locales as the production, and Once, a small off-Broadway “[The meatpacking district] has be- a favorite destination for the Jimmy Choo- Standard Hotel. The nightlife, with cock- transfer that has gotten a lot of critical buzz. come a lot more mainstream, with a lot heeled, Prada-clad crowd. tail hot spots like Abe & Arthur’s and the Though Broadway producers won’t admit it on more of the chain stores,”said retail real es- “People say the meatpacking district is Griffin, is another lure. And looming on the record, some may pull the plug on their tate broker Ariel Schuster, executive vice over, and it’s so not the case,” said Lauren the horizon is the 2015 opening of the new shows if they don’t get a nod or two on president at Robert K. Futterman & Danziger, executive director of the Meat- Whitney Museum of American Art on Tuesday. A number of productions could sure Associates. Gansevoort Street. use a Tony boost.The revival Jesus Christ Meanwhile, many of the trendy shops Superstar last week grossed only $658,515, that put the area on the map a decade ago ‘People say the Short Hills on Hudson half of its potential, and the play End of the are vanishing.They are being squeezed out Drawn by all that, mass-market stores Rainbow took in $397,233, just 48% of its by a combination of rising rents and mall- district is over, are swooping in. Along with Ugg, which potential. Ⅲ type retailers now queuing up for space in plans to open its 2,500-square-foot store the neighborhood. Others, fearing the in- and it’s so not this November,retailers including cosmet- creasing mall-ification of the area,are flee- ics giant Sephora, jeans stalwart Levi’s and BY THE NUMBERS ing to cooler locales, such as the neighbor- the case’ skin-care shop Kiehl’s have all moved in. ing West Village or SoHo. To one retail broker,it adds up to one thing: Weekly shift of the city’s economy Several of the district’s pioneering fash- a mix reminiscent of New Jersey’s Short ion houses, including Stella McCartney Hills Mall. CAT’S UP Caterpillar, Apple, 3M and others and Rubin & Chapelle, have already Still more are coming. Brokers report posted surprisingly strong quarterly earnings. Several experts insisted that the housing crash packed up and left. More are likely to fol- packing District Improvement Associa- that everyone from Patagonia and Coach is now history, and consumer confidence rose. low when their 10-year leases come up for tion. “There have always been visionaries to J.Crew and C. Wonder—the new af- renewal. here, and they won’t allow this district to fordable line from Chris Burch—are sniff- become cookie-cutter.” ing around for space. 13.6% 26 12% Seven-minute counterattack In many ways, the district is simply a “Everyone started hyping the High UNADJUSTED CENTS per gallon PORTION of 2011 The diaspora has reached such levels victim of its own success. It has reaped the Line; everyone said, ‘I gotta be in meat- March jobless rate that beer cellphone market that the area’s local booster group recently benefits not just from its own mix of shops, packing,’”said Faith Hope Consolo,chair- in the Bronx, businesses must made up of fought back with a seven-minute video ex- but also from its status as the jumping-off man of the retail division at Prudential down from 14% in pay in new state smartphones See STICK A FORK on Page 17 February and city taxes Source: Cisco tolling the neighborhood’s virtues, and in- point for the hyperpopular High Line,and Source: Bureau of Source: NYS Brewers Labor Statistics Association
AIR TRAVEL TAKING OFF The total number of paying passengers flying through the NY region has been rising. G’day, New York: Aussies, flush w 10% % change year-over-year 8 +9.9% 6 Country’s booming British and Brazilians, respectively. president of sales and marketing for Deni- 4 Hoteliers and others in the tourism han Hospitality Group, which operates 2 economy helps spur business here are investing big bucks to at- nine upscale properties in Manhattan, in- tract Aussies, even traveling to the conti- cluding the Surrey and Benjamin hotels. 0 big boost in tourism— nent to promote their brands and products. In March, Ms. Genovese traveled to -2 “We targeted Australia when we saw a Australia accompanied by two celebrity 10/11 11/11 12/11 1/12 2/12 and spending 09/11 64% increase in the number of our chefs—David Burke and Geoffrey Zakar- Source: Port Authority of NY & NJ rooms sold to Australians ian—who operate restaurants in Denihan BY LISA FICKENSCHER over the past year,” said properties. ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY Rose Genovese, vice Australians may be the answer to Mayor Emerging markets Michael Bloomberg’s new directive for the G’NIGHT “It was a very smart move by Denihan,” CORRECTION city’s tourism industry to produce a whop- said Mr. Burke, whose David Burke The source for Jeffrey Immelt’s 2011 compensation figure was ping $70 billion economic impact by 2015. Kitchen is in the James Hotel in SoHo. Salary.com. That fact was omitted in the April 23 story “Media These intrepid travelers are fast becoming 9 “We cooked, did some interviews and exec pay: What goes up, stays up.” one of the city’s top overseas spenders, NUMBER of spread the word about our properties.” vol. xxviii, no. 18, april 30, 2012—Crain’s New York Business (issn staying here twice as long as other interna- nights Australia is among a handful of emerg- 8756-789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications tional visitors and devouring all the Big Australians ing markets that NYC & Company, the Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at Apple has to offer with an apparent indif- typically spend city’s tourism bureau, has identified as im- New York, N.Y., and additional mailing offices. Postmaster: Send ference to sticker shock. portant to New York, including India, address changes to: Crain’s New York Business, Circulation Department, in NYC 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber serv- With 533,000 visitors from Down Un- Source: NYC & Company China and Latin America. While most of ice: Call (877) 824-9379. Fax (313) 446-6777.$3.00 a copy, $99.95 one der last year, Australia is the fifth-largest Europe remains in economic turmoil, year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2012 by Crain Communications Inc. overseas market for New York, up from these countries and regions are fostering All rights reserved. 12th just six years ago. What’s more, they new wealth. are the third-biggest spenders, behind the Australia’s economy last year was the
2 | Crain’s New York Business | April 30, 2012 20120430-NEWS--0002,0003-NAT-CCI-CN_-- 4/27/2012 7:53 PM Page 2
Turnaround specialist ‘Interim’ coach tells how
he reversed the Knicks’ HARDLY NETWORK FARE: The Web TV channel Off Beat fortunes—and his own Spaces featured a sardonic “Occupy Wall Street Tent Tour.” BY DANIEL MASSEY Web TV n mid-March, with Linsanity fading, the Knicks six games be- low .500, and star forward Carmelo Anthony disenchanted, coach Mike D’Antoni resigned. Mike Woodson, a for- mer Atlanta Hawks coach who was brought in as startups Ian assistant this season to improve the defense, took over on an interim basis. Conventional wisdom was that Mr.Woodson was keeping the seat warm for a big name like Phil Jackson or John Calipari. take off But immediately, the Knicks started defending with a ferociousness unseen since the Patrick Ew- ing days.Despite key injuries,the team began win- ‘Inflection point’ seen for ning and made the playoffs, which tipped off Saturday. NY’s YouTube channels. Last week, Mr. Anthony Proof’s in the ad dollars called for management to re- MOVERS & move his coach’s interim label. SHAKERS A reflective Mr. Woodson sat BY MATTHEW FLAMM down with Crain’s last week. Mike Dancing cats never got a reception like this. You had an immediate impact. What On Wednesday evening at the Beacon The- Woodson did you tell the players in your first ater, a thousand advertising and marketing ex- meeting? ecutives will gather for what looks to be a wa- Maybe I scared them into playing tershed event: the coming-out party for better defense. I just think our backs were against the wall. YouTube’s 100 or so new channels a year after I put some demands on the team when I took over that the world’s largest video platform announced it everybody had to be held more accountable. I know people would spend $100 million on original content. are going to look at me and hold me accountable. Collectively, the channels represent the So that’s the only way I know how to coach. I’m going to Google division’s challenge to cable and hold players accountable, and you’re going to have to play at broadcast’s reign over the television kingdom, a high level.If you don’t do that,you’ll be sitting next to me. and it doesn’t matter that the world at large That was my message the first day I stepped in there after may never have heard of CafeMom or The being given the job.That was the message I sold the guys. Nerdist Channel. A change is taking place in They bought in right away. Here we are in the playoffs. Web television, and for New York producers, who are working territory more commonly as- It doesn’t seem like you’ve been coaching with an interim tag sociated with San Francisco or Los Angeles, on your shoulders. Did you ever think of yourself as an the channels have opened a new frontier. interim coach? Wednesday’s event will be the culmination I came in here as an assistant coach not really know- of a first-time, two-week ing that Mike would one day walk away. When he event called the Digital 2012 See TURNAROUND on Page 17 Content NewFronts—a
newscom digital version of the up- front presentations tele- 40% vision networks have GROWTH long held for advertisers in online video every spring. Six Web gi- ants, including Hulu, ad spending h with cash, are flocking to the city Source: eMarketer AOL and Google, have been the hosts. fastest-growing among advanced countries. nights, according to NYC & Company, and Australian website last year, which is hosted Web video has a long way to go before it’s Rich in natural resources, the continent has like Mr. Rogers, they frequently return. Over in the country, and Denihan hired an Aus- even approaching the $60 billion in advertis- benefited from strong export demand for its the past five years, Aussie visitors have aver- tralian firm, Get Smart With Marketing, to ing that mainstream television attracts annu- agricultural products,as well as iron,gold and aged more than two trips to the U.S. develop the hotel company’s brand awareness. ally. Research firm eMarketer is forecasting energy. Employment has remained high, as Among the New York hoteliers making Even Macy’s is getting into the action. A 40% growth in online video ad spending in has consumer confidence, the trek Down Under this year ago, it launched international shipping 2012, to $3.1 billion. But some in the industry and the Australian dollar is NYC hotels and year is Philip Truelove, for its website, Macys.com, testing the serv- now see the kind of opportunities that led to strong. general manager of the ice in three countries, including Australia. the launches of MTV and USA Network in Ron Rogers of Mel- eateries are Greenwich Hotel, a bou- “It is an emerging market that has enor- New York three decades ago. bourne, for one, was enjoy- tique property in TriBeCa. mous potential for us, and we are looking at “This is the beginning of what is going to ing a 12-day vacation with marketing to His trip in July to Sydney it very carefully,” said Orlando Veras, a be probably the most exciting transition in his wife last week,staying at will be his second journey spokesman for Macy’s. media since cable,” said Brian Bedol, chief ex- posh AKA Central Park audiences there. After his first trip, in The interest is mutual. Australian-based ecutive of Bedrocket Media, a Manhattan- and joining friends from March 2011, Australians travel writer Rob McFarland spent four based company he founded last year with home for dinner. Despite Down Under accounted for 8% of the months in the Big Apple last year,filing up to Huffington Post co-founder Ken Lerer. the nearly two days of trav- hotel’s business, up from 15 stories about the city. Bedrocket is putting four channels on el each way, it’s his second 3% in 2010. “Editors want stories on New York right YouTube, including Network A, devoted to visit to New York in three now,” said Mr. McFarland, who is spending action sports, and Official Comedy. years: In 2010, he stayed for Macy’s promotion another four months here starting in May. Mr. Bedol is in a good position to make five weeks to celebrate his son’s 40th birthday. Similarly, Vijay Dandapani, president of Temporarily relocating wasn’t a hard de- comparisons, having founded cable networks “There’s so much buzz and excitement in Apple Core Hotels, will attend a tourism fair cision, he said.“I get to escape the Australian Classic Sports Network and College Sports New York,” said the semiretired hotel execu- in Perth later this year. It’s the first time his winter.” Ⅲ Television. With relatively low production tive. “We are mostly shopping, going to gal- company is targeting Australians. costs for the Web’s short-form videos, and no leries and dining out.” AKA, which specializes in extended stays LISTEN to a discussion at need to negotiate carriage agreements, he’s Australians typically stay here for nine and offers apartment-style quarters, set up an CrainsNewYork.com/podcasts See WEB TV on Page 20
April 30, 2012 | Crain’s New York Business | 3 20120430-NEWS--0004-NAT-CCI-CN_-- 4/27/2012 7:54 PM Page 1
TAKING A HEAVY TOLL IN THE MARKETS Poor earnings have knocked nearly a third off Astoria’s share price in the past year. by Aaron Elstein
FEELING THE HEAT: Astoria Financial CEO Monte Redman says his leap for a lot of analysts.” board knows its job. Peter Cunningham, vice presi- Banks profit roundly dent for investor relations at Asto-
ria, insists that the bank’s decision newscom Continued from Page 1 per share in earnings. An official on rounding in the first quarter had Federal Savings, a $17 billion-in- confirmed the bank would then have nothing to do with possible adverse widespread enough to have hit hard, should they stumble later. assets thrift that’s been serving dutifully rounded down reported investor reaction. “Whether or not spawned a name—quadrophobia— Voilà: An array of accounting tools homeowners and small businesses profits to 10 cents a share. Missing we meet or beat a forecasted number coined by Stanford University law can help temporarily depress re- for 124 years. After watching earn- an earnings estimate by two cents a isn’t important to us,” he said. professor Joseph Grundfest. In a ported earnings, such as by round- ings shrivel 50% in the past six share as opposed to one can be a dan- While companies have long used 2009 study,the former commission- ing down results. months amid soft demand for loans gerous thing these days, when many rounding to add gloss to their earn- er at the Securities and Exchange “Managers get compensated in a weak Long Island housing mar- banks of all sizes are still struggling ings, what’s different now is that Commission crunched 27 years’ more for delivering a smooth earn- ket and a so-so economy, the bank to regain their mojo with investors. small and midsize financial institu- worth of corporate earnings data. ings stream,” said Mr. Das, who re- took action in mid-April. Manage- Fractions routinely get rounded tions seem to be relying on it. Such After breaking down the figures to cently completed a study on the mat- ment revealed a 9% cut in Astoria’s up or down to the nearest whole institutions make their profits by the nearest tenth of a cent, he dis- ter.“Rounding earnings figures up or workforce and a 69% slash of the digit in all walks of life, but on Wall lending out money at higher rates covered the number “4” showed less down as needed is a vital part of that.” bank’s dividend. At the same time, Street billions of investor dollars can than their funding costs—the big- often on the tenths side of the deci- The bad news for banks is that the bank announced earnings of 11 rush into or out of a stock depend- ger the spread between the two, the mal point than any other digit. rounding is no panacea. In the case of cents a share, a penny below ana- ing on whether the company meets fatter the profit. But with interest Astoria, many investors are still un- lysts’ estimates—falling short for the quarterly earnings targets estab- rates at near-record lows and de- Extraordinary lengths happy about how things are going. the fourth consecutive quarter. lished by brokerage analysts. Stock mand for fresh loans anemic, their Mr. Grundfest concluded that “This company has substantially performance,in turn,plays a key role margins are getting squeezed. companies were moving heaven and underperformed,”shareholder Mark Hallelujah chorus in determining executive bonuses. Valley National Bancorp, for ex- earth to generate an earnings num- Reisman of Reisman Capital recent- Earnings came in close enough Put it all together, and it’s under- ample, last week reported first- ber of, say, 10.50 cents rather than ly groused during a conference call to the mark for investors to push up standable why management teams quarter earnings of 18 cents a share, 10.49, so they could round their fig- with management. “Has the proper Astoria’s stock by 8% since the an- have long added some extra shine on a penny below forecasts—the actual ures up. He warned that “persistent amount of time and effort been spent nouncement, but the bank had to results by rounding up earnings figure was 17.53 cents. Similarly, quadrophobia presages future re- maximizing shareholder value stretch to reach that pleasing per- when they can, even by as little as a Hudson City Savings recently re- statements and accounting-driven through all means possible?” share profit number.It turns out As- tenth of a cent per share. ported quarterly per-share earnings enforcement actions.” Chief Executive Monte Redman toria actually earned 10.52 cents a “Analysts know this trick, but of 15 cents. Happily, that figure was Rounding is not a one-way could do little more than glumly share, after dividing its nearly $10 you don’t see it discussed because it’s exactly in line with analysts’ esti- street, noted Somnath Das, an ac- take the beating. “Clearly,” he said, million in quarterly earnings by the not a polite topic,” said Nicholas mates. For the record, the precise counting professor at the University “the board understands our fiduci- number of its shares outstanding. Colas,chief market strategist at bro- figure there was 14.71 cents. of Illinois at Chicago.Some compa- ary responsibility.” Ⅲ Had Astoria reported just kerage firm ConvergEx Group. “To Such statistical hair-splitting nies don’t want a reputation for reg- $25,000 less in overall profits, it call a company on this is to say its ac- may sound trivial, but in accounting ularly exceeding analysts’ estimates LISTEN to a discussion at would have generated 10.49 cents counting is wrong, and that’s a big circles it’s important enough and because their stock prices could get CrainsNewYork.com/podcasts Betsey Johnson Which New York filing rips others Businesses Are Defining Garmentos, local vendors owed large sums nearly as much—$443,000—while the Word Success? BY ADRIANNE PASQUARELLI accessories company Cejon Inc., also on Fifth Avenue, is owed Garment industry suppliers suf- around $195,000. fered another rip in the fabric late As part of Betsey Johnson’s re- Crain’s New York Business last week with the Chapter 11 bank- structuring, many of the fashion On June 25th, will announce the 50 ruptcy filing of Betsey Johnson’s ap- house’s 63 stores are expected to close. fastest growing New York companies in our new “Fast 50” print and parel company. The news came as a Two years ago,the struggling compa- shock to loyal fans of the party-dress ny seemed to have found a white online feature. designer (pictured), but local knight in shining footwear: Long Is- vendors who work with the brand land City, Queens-based Steven had already resigned themselves to Madden Ltd., which already pro- New York is the city that never sleeps and neither do the businesses the blow. duced some Betsey Johnson-branded that call it home. Innovation constantly occurs as new industries, “We were surprised a little, accessories, bought a 10% stake in but not really,” said Salvatore the company and ownership of its such as digital media, emerge and established companies devise Stile, president of Alba intellectual property. Private equi- new growth strategies. Wheels Up International, a ty firm Castanea Partners owns Jamaica, Queens-based the remaining 90%. outfit that provides customs Chung Oyu, owner of To find out which businesses made the cut, pick up a copy of the and freight services. Alba, MCM Enterprises, an ap- which employs about 100, parel manufacturer in Sun- June 25th issue, or visit crainsnewyork.com/fast50. is owed nearly $100,000, set Park, Brooklyn, worries Mr. Stile said. that the bankruptcy will hit Betsey Johnson’s factory laborers hardest. largest creditor is Though he said his com- Haskell Jewels,on Fifth pany, which is owed about Avenue, owed about $50,000, according to the For advertising opportunities, please contact Trish Henry at (212) 210-0711 $450,000,according to Betsey Johnson filing,is fi- or [email protected]. the bankruptcy filing. nancially stable, he has The garment district heard that other vendors fabric supplier B.C. are in a more precarious America has a claim for position. Ⅲ
4 | Crain’s New York Business | April 30, 2012 CN015119.qxp 4/24/2012 3:29 PM Page 1
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For more information: call 1-877-797-6347 e-mail [email protected] 20120430-NEWS--0006-NAT-CCI-CN_-- 4/27/2012 3:06 PM Page 1
Crain’s Arts&Culture The Art of Fundraising Breakfast: in the New Economy Join Crain’s New York Business at our Arts & DATE: Culture Breakfast as we will explore a critically NEW YORK,NEW YORK Thursday important issue facing arts groups JUNE 14, 2012 across the city – fundraising in the edited by Valerie Block new economy. With the economy PLACE: sputtering and Wall Street in decline, this is really the time for Con Edison Conference Karen Brooks Center nonprofits to pull out all the Hopkins fundraising stops. 4 Irving Place at 14th Crain’s New York Business will Street bring the experts on both sides of NY Aquarium dives the equation – the fundraisers and TIME: the funders – to discuss what’s Linda Shelton Networking Breakfast: into expansion working now. Karen Brooks 8:00-8:30AM Hopkins, Linda Shelton and Program: harks are coming to Coney Arlene Shuler will join us for a 9:00-10:00AM New York candid and insightful discussion, Island. ¶ The Aquarium moderated by Alair Townsend. Arlene Shuler S is announcing April 30 that it will break ground Panelists: COST TO ATTEND: in July on the first part of its $150 Karen Brooks Hopkins $60 for individual ticket(s) if million expansion.The first new President, Brooklyn Academy of Music pre-registered before May building, slated for summer 2013, Linda Shelton 22nd; $65 thereafter. Executive Director and Trustee, The Joyce Theater Foundation $600 for table(s) of ten if will be the 6,700-square-foot Marine Wildlife Care Facility, a set of three pools where the Arlene Shuler pre-registered before May nd aquarium will care for sharks. For the first time in its history, it will be able to breed the President & CEO, New York City Center 22 ; $650 thereafter. Additional panelist to be announced PRE-REGISTER HERE: endangered species. ¶ The new tanks will allow the aquarium to quintuple its shark herd to Moderator: www.crainsnewyork.com/ 40 in time for the unveiling of the Ocean Wonders exhibit—the highlight of the expanded events-crainsarts Alair Townsend For more information, call aquarium—scheduled to open in spring 2015. ¶ Ocean Wonders will be housed in a Crain's columnist and Chair of the David H. Koch Theater at Lincoln Center the Events Hotline at 55,000-square-foot building that will have its own entrance on the famed Coney Island 212-210-0739. SPONSORED BY: You must be pre-registered to attend boardwalk and will feature three major shark exhibits. Construction on that building will this event. No refunds permitted. start in September. ¶ “It will be a game changer for us, in terms of getting people engaged in marine conservation,” said Jon Dohlin, director of the aquarium. The new shark tanks are also expected to have a big impact on annual attendance, which is forecast to jump to 1.2 million from the current 750,000 once the expansion is completed. —miriam kreinin souccar
To garner support, the statue’s CRAIN’S Business Breakfast Forum Washington up campaign team is planning a for another vote number of promotional events in May. A six-foot cardboard George Washington is running likeness of the father of the nation Meet the campaign of his will greet voters and pose for afterlife. photos at locations like Chelsea The 129-year-old bronze Market and Ellis Island. squeeze hara/the emily MERRYL H. TISCH statue of the first —miriam kreinin The Squeeze will be open from president—which souccar 7 a.m. to 7 p.m., with frequent stands outside the refills from a kitchen in the East CHANCELLOR Federal Hall Village. Ms. Brooks hopes to NEW YORK STATE BOARD OF REGENTS National Vegan truck convince customers of the benefits Memorial takes root of veganism, but she insists they’ll Join Crain’s New York at 26 Wall be won over by how her dishes DATE: Street—is Longtime vegan activist taste. Business for a one of 40 sites Karliin Brooks, who “The idea is to make healthy WEDNESDAY, discussion with across the city organized last year’s food without people realizing it’s MAY 9, 2012 Chancellor New York competing for NYC Goes Vegan, is healthy,” she said. restoration grants joining the gourmet If Ms. Brooks needs any tips State Board of Regents TIME: of up to food truck movement. on running her new business, she Merryl H. Tisch. Ms. $250,000. Starting sometime in can consult two books on food 8:00-8:30 AM Tisch will discuss the The contest, May, she will park a trucks that have just been NETWORKING sponsored by truck called the published: The Food Truck teacher evaluation David Weber BREAKFAST American Express Squeeze in Union Handbook, by , founder controversy, whether and the National Square, and dish up of the NYC Food Truck 8:30-9:30 AM the state has fixed its Trust for Historic pressed juices and raw Association, and The Complete PROGRAM Preservation, kicked food specialties like Idiot’s Guide to Starting a Food standardized tests, off last week and runs until May Greek salad with almond feta Truck Business, by Alan Philips. and her thoughts on running for mayor next year. 21. People can vote once a day cheese. —matthew flamm VENUE: She will be questioned by Crain’s assistant online at HILTON NEW YORK www.PartnersinPreservation managing editor Erik Engquist and another 1335 AVENUE .com. All 40 sites—which CAUGHT! journalist. include the High Line and the OF THE AMERICAS Brooklyn Public Library—will The top five neighborhoods for receive a portion of a $3 million cheating, per capita. Sponsored By pot, but the four sites with the RESERVE YOUR SEAT most votes will get more sizable 1. Great Neck, L.I. www.crainsnewyork.com/events--mtisch grants. 2. Park Slope, Brooklyn You must be pre-registered to attend this event. No refunds permitted. “George is going up against some pretty hefty sites,” said Marie 3. Upper East Side, Manhattan Salerno, president of the National Parks of New York Harbor 4. Forest Hills, Queens Conservancy, which oversees the For sponsorship opportunities, please contact: 5. TriBeCa, Manhattan Trish Henry at [email protected] or Federal Hall National Memorial. (212) 210-0711. “But how many have a bridge Source: AshleyMadison.com
named after them?” istockphoto
6 | Crain’s New York Business | April 30, 2012 20120430-NEWS--0007-NAT-CCI-CN_-- 4/27/2012 12:16 PM Page 1
NEIGHBORHOOD JOURNAL
HOT SPOT: Loft building in N. B’klyn loft tenants fight to stay Williamsburg
“We’re hoping to push all these grammer and member of New York ries of legal challenges. Earlier in Facing eviction, fronts to keep the creative entrepre- City Loft Tenants, has seen the April, a Brooklyn Supreme Court artists find new legal neurial spirit alive in New York problem firsthand while going judge ruled that Mr.Opdyke and his City,” said Eve Sussman, an organ- door-to-door to speak to residents. neighbors did not qualify for protec-
protections fall short izer for the group. Ms. Sussman, a He recalls canvassing a factory tions because they had signed an loftnyc tenants filmmaker, has lived in an expansive building near Flushing Avenue and agreement with their landlord years BY SHANE DIXON KAVANAUGH studio on Kent Avenue in south the Brooklyn-Queens Expressway before that allowed them to stay in tors.But a bill has yet to materialize. Williamsburg for 14 years. where residents reacted in outrage the building only until 2011. “They have a big job ahead of culptor David Opdyke nev- One big challenge,advocates say, when he told them they were not liv- Mr. Opdyke and others continue them,” said Chuck DeLaney, who er saw himself becoming a is that so few loft tenants are aware ing in their homes legally. “People to press their case for broader cover- founded the Lower Manhattan housing activist. But a year they live in illegally converted spaces were totally angry with me,”he said. age. A busload of New York City Loft Tenants in the late 1970s and after he found himself in a or that there’s a law to protect them. Those who have sought coverage Loft Tenant members spilled into was instrumental in passing the legal battle with his land- Gordon Woodhull,a computer pro- under the Loft Law have faced a se- Albany in February to lobby legisla- original Loft Law. Ⅲ Slord, that’s exactly what happened. He and other artists living and working in an illegally converted noodle factory in Williamsburg ap- plied for tenant protections under the city’s decades-old Loft Law shortly after the regulation was ex- panded to cover a wider area two years ago. But instead of winning le- gal status as tenants of rent-stabi- lized pads,they now find themselves facing eviction after a judge ruled in April against their application. “We’re just waiting for the sher- iff to show up now,” said Mr. Opdyke, who moved to the former factory 17 years ago at the age of 26, and lives there today with his wife and two children. The city’s original Loft Law ap- plied only to people living in illegal- ly converted spaces during the early 1980s, most in erstwhile industrial areas in SoHo and elsewhere down- town. But since the law’s reach was expanded in 2010 to cover more re- cent conversions in north Brooklyn and beyond,few tenants have sought the protections. Many of those who have done so have run into intense opposition from landlords. Mean- while, housing experts estimate that hundreds of buildings could qualify for legalization under the law, even as city officials struggle to preserve space for manufacturers. “Manufacturing and industrial companies have long been part of the fabric of New York City,” said a spokesman for the city’s Economic Development Corp.“We are keenly aware of the challenges, including real estate, they face in today’s envi- ronment.” Lobbying efforts Undeterred, residents like Mr. Opdyke insist their spaces are some of the few spots in the city that mem- bers of another important industry— the making of art—can afford. Last August, he began publishing a ten- ant’s guide to the Loft Law online, based on what he’d learned during his own struggle. The website has since caught on among many who live and work in Williamsburg’s aging indus- trial haunts and has evolved into a full-fledged advocacy organization, New York City Loft Tenants. A team of artists, designers and creative professionals—most with little or no political experience— now form the core of the group. Re- cently, they’ve canvassed old factory buildings, lobbied elected officials in Albany and attended regular meetings of the city’s Loft Board. Their aim is to boost the number of buildings protected under the law.
April 30, 2012 | Crain’s New York Business | 7 20120430-NEWS--0008-NAT-CCI-CN_-- 4/27/2012 7:56 PM Page 1
be “independent” and noted his support for a new pension tier enacted over the objections of WFP Back under investigation THE INSIDER public-sector unions. A FRESH ROUND of legal trouble may A Liu campaign spokesman be in store for the Working Families by Jeremy Smerd and Shane Dixon Kavanaugh shot back: “Dan can’t make up his Party. A special prosecutor requested own political reality.The audits of more than two years ago by the Staten CityTime and the 911 system Island district attorney is now saved millions for the taxpayers and investigating allegations that the left- the hardworking families of NYC. leaning organization skirted campaign John’s work has already saved finance laws in 2009 by providing low- Dan Garodnick $1 billion in taxpayer money, and cost campaign services to WFP-backed he continues to root out waste. Democrats through the party’s for-profit arm, Data and Field Services. How much has Dan saved?” The revelation comes as the influential third party gears up for state and Mr. Garodnick is known for congressional elections, and six months after it appeared to have closed a lays into John Liu fighting an overleveraged landlord’s tumultuous chapter in its 15-year history. effort to evict Stuyvesant Town Last October, the organization settled a civil lawsuit charging that it tenants. He is organizing their unfairly aided the 2009 campaigns of Staten Island Democrat Deborah aniel Garodnick didn’t effort to purchase the giant complex.The drama won’t be Rose and other City Council candidates. The organization shut down Data pull any punches as resolved before the election. and Field Services and ponied up more than $100,000 in legal fees to the he outlined his Mr. Garodnick said his past plaintiffs’ law firm. vision for the city work as a corporate securities The settlement was thought to end two years of legal headaches for the WFP, including probes by Staten Island D.A. Daniel Donovan and federal comptroller post he litigator at white-shoe law firm Paul Weiss prepared him to oversee prosecutors. But special prosecutor Roger Bennet Adler, whom the Office of Dhopes to win in 2013. the pension funds the comptroller Court Administration appointed Jan. 12, has the power to subpoena records, The East Side councilman told manages. He was also trained to testimony and witnesses. Crain’s last week that the federal buck ennis investigate large corporations, a The investigation appears to be limited to the role Data and Field Services John Liu skill pertinent to auditing. played in Ms. Rose’s successful campaign. The organization helped other investigation into fundraising by incumbent had winners in 2009, including Public Advocate Bill de Blasio and City Council neutered the office, while the comptroller’s own audits of High-cost testing members Jimmy Van Bramer and Daniel Dromm of Queens and Brad city agencies were overly aggressive. Lander and Jumaane Williams of Brooklyn. “He’s coming in guns blazing instead of looking for Last week, while education A spokesman for Mr. Donovan said the request for a special prosecutor opportunities to solve problems,” Mr. reporters focused on faulty was made in February 2010, when Mr. Donovan was running for attorney questions on statewide tests, critics general. A spokesman for the court system could not explain why the Garodnick (left) said. The Department in schools had other concerns. A appointment took so long. One blogger mused that no one wanted the job. of Education and the Economic survey for parents was circulated by Development Corp. are favorite opponents of the new practice of basing 40% of teachers’ evaluation targets of Mr. Liu (above), who is scores on test results. factor in the lost instructional replace them would be less expected to run for mayor instead Parents at one middle school time,” it said. amenable to massaging crime of re-election next year. received an email saying the school statistics.The union representing must pay substitute teachers a total No space for waste civilian city workers, District Council The councilman also seemed to of $16,000 for the 15 days that 37, says the NYPD could save jab at Mr. Liu’s cozy relationship with regular teachers will spend grading Complicating the city’s effort to money by using more civilians. But bl tests. “That doesn’t even begin to site a waste-to-energy plant, New police supervisors have been known oomberg news labor unions. Mr. Garodnick said he’d York over the past 10 years has to say that one officer can do the reduced industrial land through work of three civilians. rezoning and variances by 20%, said Christopher Rizzo, an attorney with Family favors Carter Ledyard & Milburn. Staten Island has the Louisiana Gov. Bobby Jindal (below) largest contiguous tracts of returns to the region this week for manufacturing-zoned property, but an education conference in Jersey islanders’ memory of Fresh Kills City, but this time he won’t be made the former landfill politically traveling in John Catsimatidis’ jet. toxic. The supermarket billionaire flew “Hunts Point in the Bronx and Mr. Jindal to town in mid-April to Long Island City/Newtown Creek keynote the New York Republican in Queens still have substantial annual dinner.The ride was a favor tracts of manufacturing zones and to state GOP Chairman Edward Cox, are possible candidates,” Mr. Rizzo whose son, Christopher, is married to said. But sites there are likely to run Mr. Catsimatidis’ daughter. into environmental-justice “It’s a courtesy extended to the concerns. governor and to the chairman,” said Mr. Catsimatidis, who owns several jets. He Cops behind said Mr. Jindal desks probably flew up on his Lear 45, a Police Commissioner midsize $11.5 Raymond Kelly has said million jet.The he’d rather not keep governor, oddly, police officers behind never thanked Mr. desks, yet about 3,500 Catsimatidis. remain in clerical The two never positions. Some are there for communicated.Ⅲ disciplinary or physical reasons, but at least 500 aren’t. One insider cited two potential reasons why change has been slow: Many officers prefer desk jobs, and civilian workers who bloomberg news For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider
8 | Crain’s New York Business | April 30, 2012 20120430-NEWS--0009-NAT-CCI-CN_-- 4/26/2012 5:31 PM Page 1
SMALL BUSINESS Lots of little shops boost local nabes
borhoods we looked at with strong es are going to be the more successful restaurant Tree Bistro in the East Vibrant business independent business districts out- parts of the city, and real estate there Village five years ago,after watching districts are found performed their broader housing is generally more valuable,” he said. the small business community markets by 150% from 1996 to Small business owners generally flourish and housing prices climb. to raise real estate 2010,” Mr. Houston said. follow developers into a neighbor- Though the eatery suffered some- values in city Although it’s hard to know defin- hood, notes Erik Dowling, manag- what during the recession, revenue itively which comes first—robust ing director at Ninigret Realty Cap- in 2011 was back up. “This is a small businesses or rising property ital’s New York City office and an neighborhood of small businesses, BY EILENE ZIMMERMAN values—they feed off one another, adjunct professor at New York Uni- with regular customers,” said Mr. said Peter Muoio, senior principal at versity’s Schack Institute of Real Es- Clancy. Perhaps his business will,
ince Stephen Neagus real estate research and consulting tate. “It’s usually residents that bring in turn, help residents recover from buck ennis opened Camp Bow Wow, firm Maximus Advisors.“Areas with the retailers,” he said. the housing bust by driving up prop- FRESH GROWTH: Revenues are up for Colm a 10-employee dog day a diversity of thriving small business- Colm Clancy opened his French erty values. Ⅲ Clancy’s Tree Bistro in the East Village. care and boarding facility in Long Island City, SQueens, three and a half years ago, he’s been happy to see more poten- tial customers settling into his up- and-coming neighborhood. “It’s more expensive to rent or buy here,” he noted. “It’s also a Commercial Banking Group younger crowd,lots of families.This neighborhood is very fond of their mom-and-pop shops.” Small business owners like Mr. Neagus have long realized that an influx of new residents with dispos- able income can help their business- es grow. He chose his location after noticing a lot of residential con- struction in the area and small restaurants popping up. “I thought, ‘This neighborhood is going to be big in the next three years,’” he said. But many entrepreneurs don’t re- alize that their presence can help residents get significantly more re- turn on their real estate investment. Research by American Express Open found that a vibrant mix of in- dependent businesses was linked to rising real estate values. For the growing number of local homebuy- ers in New York taking advantage of near-record-low mortgage rates, that finding may be worth noting. NY shopping areas shine Daniel Houston, co-founder of Civic Economics, which conducted the survey for American Express, mapped the change in property val- ues over time in neighborhoods across the country. He and his team focused on strong independent busi- ness districts in 15 major American cities from 1990 to 2009, looking at how their presence affected property values. The idea, said Mr. Houston, was that “changing housing values are a great proxy for the desirability of a neighborhood.” The survey chose 27 local neigh- borhoods with high concentrations of independent businesses for closer study. New York City was found to have the strongest independent busi- ness community, with standout neighborhoods including Little Italy; Jackson Heights, Queens; and Greenpoint, Brooklyn. There’s no substitute for experience. At Capital One Bank®, we make it our business The effect of great shopping and to work alongside companies like yours every day. Backed by the strength of a top-10 dining districts on property values in U.S. bank, we’ve got the industry experience to help give your business a lift. these neighborhoods was striking. While average New York City hous- ing values rose 160% overall from Ellen Marshall, Commercial Banking Executive 1996 to 2010, Greenpoint’s rose [email protected], (212) 764-8315 260%, for instance. “All 27 neigh-
To sign up for Crain’s SMALL BUSINESS newsletter, go to Products and services offered by Capital One, N.A., Member FDIC. © 2012 Capital One. Capital One is a federally registered service mark. All rights reserved. www.crainsnewyork.com/smallbiz.
April 30, 2012 | Crain’s New York Business | 9 20120430-NEWS--0010-NAT-CCI-CN_-- 4/27/2012 12:55 PM Page 1
VIEWPOINT Retail politics as usual editor in chief Rance Crain publisher, vp Jill R. Kaplan
ew York City’s leading Wal-Mart hater city—not to mention lobbying (which organized labor and EDITORIAL issued a bizarre demand last week when its pals have been doing in New York far longer than Wal- editor Glenn Coleman news broke that the company’s Mexico Mart has).Think of the damage that music concerts and tree deputy managing editors Valerie Block, Erik Ipsen unit had paid off local officials to speed plantings funded by Wal-Mart are doing to innocent assistant managing editor Erik Engquist the pace of store openings south of the civilians. Someone call 911! senior producer, news Elisabeth Butler Cordova contributing editor border: an investigation of the retailer’s But the retail workers’ union wasn’t done: “Wal-Mart has Elaine Pofeldt charitable donations here. used private meetings to make its pitch to real estate columnists Greg David, Michael Gross, “Wal-Mart has spent millions on ‘philanthropy’ and developers and other power brokers,” it charged. Alair Townsend pulse editor Barbara Benson ‘lobbying’ to enter New York City in the past couple of Private meetings—can you imagine? How could any senior reporters Theresa Agovino, N Aaron Elstein, Lisa Fickenscher, Matthew Flamm, years,” declared the Retail, Wholesale and Department business be allowed to meet privately with developers and Daniel Massey, Miriam Kreinin Souccar Store Union in a breathless “statement” that reads like a city officials? Surely the retail workers’ union would never reporters Amanda Fung, Shane Dixon Kavanaugh, “parody” of Zagat. “These so-called donations and have a private meeting with a politician. But for some Adrianne Pasquarelli, Jeremy Smerd reporter/producer Emily Laermer contributions have been the core of Wal-Mart’s campaign to reason, the union routinely forgets to post public notices and art director Steven Krupinski break into this coveted urban market.” invite the media to those gatherings. deputy art director Carolyn McClain staff photographer Buck Ennis Well, now. We can’t have philanthropy destroying our fine Just an oversight, we’re sure. copy desk chief Steve Noveck copy editor Thaddeus Rutkowski assistant research editor Suzanne Panara research interns Callie Eidler, Amy Stern
paperwork requirements. But the prosecutor left much of EDITORIAL AND ADVERTISING OFFICES the story untold. 711 Third Ave., New York, NY 10017-5806 Wrong solution editorial: 212.210.0277 Fax 212.210.0799 What “everyone does” in the construction business is pay advertising: 212.210.0711 In announcing the settlement of fraud charges last week more for foremen who drive productivity.That’s called Cable craincom nyk against a major New York construction company and a guilty capitalism. Unfortunately, the unions have strict wage scales Fax 212.210.0499 Entire contents ©copyright 2012 Crain plea by its former principal, U.S. Attorney Loretta Lynch designed to ensure that foremen of equivalent rank receive Communications Inc. All rights reserved. delivered a scathing account of overbilling that cost equivalent pay, regardless of their performance. Paying the ®CityBusiness is a registered trademark of MCP customers tens of millions of dollars. best foremen for unworked overtime is a way around that Inc., used under license agreement. Bovis Lend Lease, she charged, had for at least 10 years barrier to productivity. But Ms. Lynch has sent notice that it TO SUBSCRIBE: For subscription information and delivery concerns, paid union foremen for time not worked and passed those will no longer be tolerated. please e-mail [email protected] costs along to its customers, including the government. Contractors and their unions need to come up with a legal or call 877-824-9379 (in the U.S. and Canada) or way to reward foremen who get projects built faster and 313-446-0450 (all other locations.) $3.00 a copy, Alluding to the widespread nature of the industry practice, $99.95 one year, $179.95 two years. Ms. Lynch warned that “the defense of ‘everyone does it’ will better, while ensuring transparency for the governments and www.crainsnewyork.com
not be a shield against law enforcement.” private clients who ultimately pay the bills. Indictments and ADVERTISING AND MARKETING Her remedy was to force the company, now called just paperwork mandates inflicted by prosecutors on a single advertising director Trish Henry Lend Lease, to submit to multiple layers of oversight and company are not the solution. senior account managers Irene Bar-Am, Courtney McCombs, Sheryl Rose, Suzanne Wilson account executive Jill Bottomley Kunkes sales coordinator print & online Danielle Wiener CRAIN’S ONLINE POLL COMMENTS newsletter product manager Alexis Sinclair WAS MAYOR BLOOMBERG credit Todd J. Masura 313.446.6097 director, audience development RIGHT TO VETO THE Michael O’Connor Gotham bus capades senior marketing manager PREVAILING-WAGE BILL? Catherine Schutten IN BUS WARS, WHAT GOES AROUND … This demonstrates there are different event producer Courtney Williams Date of poll: April 26 products serving different markets. reprint sales manager Lauren Melesio 218 votes I would like to draw your readers’ attention to —dale moser some key details following your report about President and chief operating officer general manager, online & e-commerce strategy Kira Bindrim curbside pickups by bus operators and the state Coach USA senior web developer, interactive
Yes. . 65% Supreme Court’s dismissal of complaints by Chris O’Donnell The law our competitors Greyhound Lines, Peter Pan would TOURIST TAP NEW YORK PRODUCTION threaten Bus Lines and Adirondack Trailways (“Bus
economic battle hits the streets,” April 23). If the mayor wants to increase tourism production and pre-press director gains in 35%. For several years since 2008, BoltBus—a (CrainsNewYork.com), he should make all car Michael Corsi the city. advertising production manager low-cost carrier operated by Greyhound Lines services and yellow taxis and vans accessible. Suzanne Fleischman Wies and Peter Pan—itself used prime curbside It is surprisingly difficult to get from pickups, in the Penn Station area. It was only borough to borough. People in Brooklyn can’t PUBLISHED BY CRAIN COMMUNICATIONS INC. No. City- after being ordered to move by the city’s get into or back from Manhattan, for example. chairman Keith E. Crain subsidized Department of Transportation and Few subway stations are accessible, and their president Rance Crain jobs should Community Board 4 that BoltBus based some elevators are often out of service. Bus service secretary Merrilee Crain pay more. of its departures from the Port Authority between boroughs has been cut or eliminated. treasurer Mary Kay Crain executive vp, operations William Morrow terminal, using gates leased by Greyhound. Not to include people with disabilities in senior vp, group publisher Gloria Scoby BoltBus has since resumed curbside pickups. transportation is bad for business! group vp, technology, circulation, The court found the award of the curbside —jean ryan manufacturing Robert C. Adams stop on 41st Street to our company, Vice president for public affairs vice president/production & Megabus.com, had not resulted in any harm to Disabled in Action of Metropolitan New York manufacturing David Kamis our competitors. In addition, Coach USA— chief information officer Paul Dalpiaz parent company of Megabus.com—itself pays CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) bloomberg news significant fees for running its traditional bus pages. Send letters to [email protected]. For this week’s questions: Go to services in and out of the Port Authority Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. terminal, while BoltBus and other curbside [email protected]. Please include the writer’s operators do not pay such fees in the city. name, company, address and telephone number.
10 | Crain’s New York Business | April 30, 2012 20120430-NEWS--0011-NAT-CCI-CN_-- 4/27/2012 12:12 PM Page 1 p
OPINION Crain’s
they retire. Moreover, the city pays Real Estate Conference retirees’Medicare Part B premiums. A bigger threat Unlike public pensions, retiree health care is not protected by the Seizing the Moment 2012 state constitution. It is possible to reduce promised health care bene- to public purse fits to most current public workers Crain’s New York Business and retirees. It is possible, and it Join for its Real should be done—soon. We cannot Estate Conference: Seizing the Moment t’s budget season in New York. Legislators have been afford such largesse, especially ben- criticizing the mayor for the choices he proposed, and efits so increasingly out of line with 2012. As the economic recovery sputters, demanding different priorities. Among other things, those available to most taxpayers. there’s every sign that the market is digging in Public-employee unions are they want to restore his cuts in child-care slots—47,000 pressing friendly state legislators to for a long haul. Looking on the bright side, it of them—as well as reductions to libraries,cultural insti- enact measures prohibiting any also means New York has become more tutions and after-school programs. Rarely do those demanding diminution of retiree health care I benefits. As always, they can find competitive. So where can investors, bigger slices of the pie specify who or what should get less. politicians eager for campaign sup- For years,city and state expenditures have grown more rapidly port and willing to stick their heads developers, and landlords find growth and in the sand and ignore fiscal limits, opportunity? And just how affordable has than revenues, necessi- ers. Those are cata- including the following members of tating revenue-raising strophic numbers be- the city’s Albany delegation: As- New York become? measures and spending cause, unlike pensions, sembly members David Weprin, cuts to close the gaps. these costs are met on a Michael DenDekker, Eric Steven- One major cause of fiscal pay-as-you-go basis. son, Margaret Markey, Peter Ab- stress—generous Private employers bate,William Colton,Grace Meng, public-sector pen- responded to rapidly William F. Boyland Jr., Felix Ortiz, sions—was addressed rising health care costs Nicole Malliotakis and N.Nick Per- PANELISTS INCLUDE: earlier this year, when by dramatically cutting ry,and Sens. Andrew Lanza, Joseph JAY CROSS, President the governor and Legis- eligibility and contribu- Addabbo Jr., Eric Adams, Martin Related Hudson Yards lature enacted a measure tions for retiree health Malavé Dilan, Ruth Hassell- to rein in costs by $80 ALAIR care.As it was,only 11% Thompson, Jeffrey Klein, Thomas MARYANNE GILMARTIN, EVP billion for the state and TOWNSEND of private employers in Duane, Velmanette Montgomery, Forest City Ratner Companies city over 30 years. 2000 offered health Kevin Parker, John Sampson, Mal- An even bigger threat benefits to retirees eligi- colm Smith, Toby Ann Stavisky, ABBY HAMLIN, President to the public purse is health care for ble for Medicare. That percentage Diane Savino and Martin Golden. Hamlin Ventures, LLC retired government workers.A recent has surely fallen. These folks are part of the prob- estimate by the nonpartisan Citizens City workers fare well in com- lem of high taxes and cuts in worth- JANNO LIEBER, President Budget Commission puts the un- parison.Those with 10 years of serv- while programs. It will be up to the Silverstein Properties, World Trade Center Properties, LLC funded liability at $56 billion for state ice are eligible for free health bene- governor and mayor to push for so- ANTHONY MALKIN, President workers and $84 billion for city work- fits, regardless of the age at which lutions. Malkin Securities
RON MOELIS, CEO & Chairman L+M Development Partners Inc. Ms. Quinn? The case for a Bloomberg en- JASON PIZER, President Will Bloomberg dorsement is primarily based on the Trinity Real Estate idea that she is the most moderate of SCOTT RECHLER, Chairman & CEO the Democratic candidates. She has RXR Realty LLC helped the mayor pass his vast agen- endorse Quinn? da of zoning changes and major de- WILLIAM RUDIN, Vice Chairman & CEO velopment projects. She has been a Rudin Management Company partner in Mr. Bloomberg’s budget o piece of conventional wisdom is more widely priorities, willingly playing the MARY ANN TIGHE, CEO New York Tri-State Region believed in New York than that Michael decades-long game in which the CBRE Bloomberg will support City Council Speaker council conducts political theater over an absurdly small percentage of MATTHEW WAMBUA, Commissioner Christine Quinn as his successor in the 2013 the budget rather than challenge the NYC Department of Housing Preservation & Development mayoral race. Some of last week’s biggest news mayor on the big fiscal issues. developments suggest that idea is wrong. Even the mayor Then there is the question of who N else the mayor could endorse. The should realize that. constant yearning for Police Com- Consider how the week began—with the revelations that not missioner Ray Kelly is nonsense; he will be 72 next year and has never only had Wal-Mart al- vowed to go to court to shown much knowledge of or interest >REGISTER TODAY legedly bribed Mexican block both efforts if the in issues beyond criminal justice. Visit: crainsnewyork.com/events-realestate2012 officials in violation of council overrides his ve- Liberal Party (and maybe Republi- U.S. law, its top execu- toes as expected. can) candidate Tom Allon is earnest Or call: (212) 210-0739 tives covered up the ef- The mayor didn’t but hasn’t made a case yet either, es- fort when they learned quibble on the specifics pecially on crucial economic and EVENT INFORMATION: about it. Speaker Quinn of these bills. Rather, he business issues. The speculation sur- Tuesday, June 12, 2012 led the pack of 2013 argued—powerfully— rounding Merryl Tisch,chancellor of Signature Theatre I 480 West 42nd Street, New York, NY mayoral candidates us- that they are fundamen- the state Board of Regents, seems to 8:00 - 8:30 am: Networking Breakfast ing the scandal to further tally wrongheaded. have died down,although she has the damage Wal-Mart’s ef- “Those bills … are a brains and money to be competitive. 8:30 - 11:30 am: Program forts to enter the city. GREG throwback to the era Some of the pragmatists in the The mayor, by contrast, DAVID when government Bloomberg camp and business com- defended Wal-Mart’s viewed the private sec- munity continue to convince them- Program Partner right to operate here. tor as a cash cow to be selves that the speaker is an accept- Later in the week,Mr.Bloomberg milked, rather than a garden to be able choice.Others don’t agree—and vetoed a bill crafted by the speaker re- cultivated,” he said. “The council the mayor’s speech on prevailing quiring prevailing wages for building wants to take revenue from owners wage suggests to me that the mayor service workers in some city-subsi- and give it to a select group of em- is listening to them. For sponsorship opportunities, please contact Trish dized projects and said he would veto ployees. That’s not the way the free Sometime next year, he will have Henry at [email protected] the living-wage bill the council is ex- market works.” to decide—and his choice will be or call (212) 210-0711. pected to approve April 30. He also Who is he referring to if not between pragmatism and principle.
April 30, 2012 | Crain’s New York Business | 11 20120430-NEWS--0012-NAT-CCI-CN_-- 4/26/2012 5:32 PM Page 1
REAL ESTATE DEALS
Consultants, too, like midtown south GROWING GAP Availability rate for Class B and Class C office space Terms were not disclosed. a go-to place for many popular Boston Consulting Sources said that the firm would eateries to set up commissary joins tech firms in retain its office at 430 Park Ave., in kitchens to supply food to their the tony Plaza district. eateries’ Manhattan outposts. NY’s hottest market CBRE Group Inc. brokers who Blockhead’s Burritos, which has six represent Boston Consulting de- locations in the borough, recently t’s not just tech and creative clined to comment. BCN Develop- became the latest chain to go that firms that are flocking to ment owns 315 Park Ave. South, a route when it signed a 10-year lease midtown south. The Boston 334,000-square-foot, 102-year-old Blockhead’s goes for 2,100 square feet at 1735 Park Ave. Consulting Group just inked tower formerly known as the Rem- up to Harlem The asking rent for the space,which a deal to lease 33,000 square ington Rand Building. A call for includes a 350-square-foot storage Ifeet at 315 Park Ave. South, sources fa- comment wasn’t immediately re- A combination of affordable rents basement, was $40 a square foot. Source: Studley miliar with the transaction said. turned. —theresa agovino and good access are making Harlem The Mexican eatery follows
Magnolia Bakery, Fat Witch Bak- ery, Grace’s Marketplace and Red Rabbit, which have also opened commissaries in the neighborhood. “That area has become a hub of commissary kitchen locations,” said Stephen May, the JDF Realty bro- ker who represented Blockhead’s. “It’s very accessible to suppliers;get- ting deliveries in and out is easy.” Aaron Gavios and Denise Mar- tinez of Square Foot Realty repre- sented landlord G&J Wholesale Associates. —adrianne pasquarelli Office build-outs work for W&H W&H Properties is reaping gains from its program to build out office spaces in its properties. Law firm Aronauer Re & Yudell leased an 8,100-square-foot pre- built suite at One Grand Central Place. The asking rent for the 10-year deal was $49 a square foot.The tenant is slated to move into its new home in September. You expect an expert Greg Wang worked for Colliers International when he represented the law firm in the deal.He has since in Cash Management, moved to Newmark Grubb Knight Frank. Risk Management and, W&H is constructing 70,000 square feet of prebuilt space of course, Relationship at the building, and has al- Management. ready leased about half of it. That’s Key. We have experts in every aspect of financial “Prebuilt is services. Starting with the relationship. We are KeyBank. what the mar- Our Relationship Managers help you access a team of ket wants,” senior level specialists to assist you with any financial need. said Fred Posniak, senior vice presi- dent of Malkin Holdings,which su- We are also KeyBanc Capital Markets Inc., a full service pervises W&H Properties, a collec- corporate and investment bank. So when your financial tion of nine prewar buildings. needs become more sophisticated, like maximizing liquidity Mr. Posniak notes that small or managing risk, we have the expertise to help you succeed. companies would rather conserve cash than spend roughly $120 a We’re not just the expert you deserve. We’re what you expect. square foot to outfit space, especial- ly in this still-shaky economy. Meanwhile, air-conditioning and refrigeration giant Carrier has leased a 6,000-square-foot space at another W&H property: 1350 Broadway. The asking rent for the seven-year deal was $51 a square foot. Carrier aims to move into the new office in June. The landlord’s willingness to build out the Carrier space was a key consideration in the deal, according to David Itzkowitz, a broker at Cushman & Wakefield Inc., who represented the tenant with colleague Mark Wanic. —theresa agovino
12 | Crain’s New York Business | April 30, 2012 20120430-NEWS--0013-NAT-CCI-CN_-- 4/26/2012 5:33 PM Page 1
DIVERSITY INSIDE The List NY area’s largest minority-owned companies PAGE 15 ‘You have to be in the flow, and minorities haven’t been in that flow’ —Willie Woods, ICV Partners, Page 16
RISK TAKER: Danielle Chang, who left Goldman Sachs and later started Luckyrice, calls herself “an Goodbye, entrepreneur at heart.” ‘bamboo ceiling’ Corporate barriers spur Asians to start fast-growing enterprises grew 30%, to 1.1 million, between BY EMILY LAERMER 2000 and 2010, the largest total of any U.S. city—many are starting When Kenny Lao graduated from their own businesses. Brown University in 1998,he took a But not the dry cleaners, restau- job on Wall Street. Just a few rants and small groceries that their months in, he realized it was not a parents and grandparents opened in good fit. the 1970s and ’80s. Instead they’re “It appealed to me because it was using venture capital money to cre- a secure job that I should get out of ate tech firms, social-media enter- school,”he said.“After a year,I knew prises,fashion companies and more. what it was like. I got the biggest It’s not the path their elders envi- bonus I could get, but I wasn’t sioned. Asian parents’ famous focus dollar-motivated.” on education was supposed Some time later, with to steer their children to just a few years of restau- predictably high-paying rant experience and a de- 1.1M careers as doctors or engi- gree from New York Uni- NUMBER of neers.And for a while,that versity’s Stern School of Asian-Americans was the case. Business,Mr.Lao,35,and “There’s definitely a an NYU classmate won a in New York, the mentality among my peers business competition that most in any that Asian-Americans are helped them launch Rick- U.S. city careful about things,” said shaw Dumplings, an Danielle Chang, 40, a for- Asian-style fast-food mer Goldman Sachs asso- chain with eateries and trucks ciate. “They went the professional around the city. route, studied accounting and med- Mr. Lao is hardly alone among icine and got the paycheck because Asian-Americans who were star of the immigrant mentality and the students and promising employees pressure that they got from parents, and, for one reason or another, did in terms of making a good living.” not advance in the city’s corporate But younger Asian-Americans world. As Asian-Americans prolif- are now more willing to take risks,
buck ennis erate—in New York their numbers See ENTERPRISING on Page 14 Focus, flexibility pay off for minority-owned financial firms
best: mortgage-backed securities. It commitment to diversity by big in- Emerging managers was a prescient move. Since then, vestment funds are driving more make gains, but the $1.1 billion minority-owned money to women- and minority- firm has added three new funds,and owned firms. Emerging managers— footprint is still tiny its mortgage-backed securities firms with less than $2 billion—con- strategy is performing in the top trol a tiny fraction of the $36 trillion 25% of that universe. under management in the U.S., and BY JUDITH MESSINA “As a small firm, the tsunami of they suffered in the recession, but for GREGORY 2008 and 2009 was challenging,” some, flexibility, focus and a hunger PARSONS’ firm In 2008, when Gregory Parsons be- Mr. Parsons said. “But we had an to succeed are paying off. successfully came chief operating officer and lat- unusually strong mortgage skill set “Institutional investors often as- weathered the er chief executive of UCM Partners, ... in a sector that needed expertise.” sociate emerging managers with recession.
he homed in on what the firm does Good performance and a renewed See MINORITY on Page 16 buck ennis
April 30, 2012 | Crain’s New York Business | 13 20120430-NEWS--0014-NAT-CCI-CN_-- 4/26/2012 5:34 PM Page 1
REPORT DIVERSITY
Because of this cultural ap- Enterprising Asians ditch corporate ladder proach, Asian-Americans are over- looked for promotions. Ms. Young calls this the “Harold and Kumar Continued from Page 13 city. They make up 13.8% of engi- and hardworking, partly because just 2.1% of board seats in Fortune syndrome,”after the Korean and In- she said. Of all the New York com- neering graduate programs, accord- there are so many Asian-American 500 companies,according to the Al- dian cinematic duo. Asians are seen panies that received Internet seed ing to the Council of students,” she said, citing liance for Board Diversity Census. as reliable and hardworking, but not and Series A funding in the first half Graduate Schools. the influence of “tiger Three-quarters of board members necessarily as leaders. Their Cau- of 2010, 11% were founded by When Stefanie Weis- parents.” are white men. casian colleagues are more likely to Asian/Pacific Islanders, according man was Stuyvesant’s 2.1% Asians’ academic “There’s this cultural feeling that volunteer to lead presentations, for to data by CB Insights. valedictorian in 1999, she OF BOARD SEATS achievements have opened you shouldn’t mouth off about how example, and bosses take notice of said, the school was about in Fortune 500 doors to lucrative fields smart you are or how good you are at leadership qualities. Stuyvesant or bust half Asian. She described companies are like finance and consult- something,” said Alice Young, a Indeed, culturally, U.S. and Asians make up 13.7% of the her time there as “the most held by Asians ing. But once inside, they partner and chair of the Asia Pacif- Asian societies have different com- city’s public school population but intense four years of my face what some call a ic practice at major law firm Kaye munication values, or contexts, ac- 72% of the student body at life” because of the com- “bamboo ceiling”: cultural Scholer. “You should let others cording to Elizabeth Miu-Lan Stuyvesant High School, arguably petitiveness. differences that slow their ascent up speak for you, and your talent will Young, a consultant who focuses on the top academic high school in the “The students there are bright the corporate ladder. Asians hold show through.” Asian-Americans in the workplace. Asian communities value details like using honorifics and eye con- tact, she said. American culture em- phasizes speech over polite actions. Because of this, Asian-Americans are not as successful at activities like I started off with small networking. “ It’s also possible that tiger parent- ing ultimately backfires. Ms. Weis- jobs but in no time I bid on man,who is writing a book about ac- ademic success,said those who enjoy a big project—and won. learning—rather than studying be- ” cause their parents insist—tend to do better professionally. Michael Smith turned a partnership with No guarantees Con Edison into growth and success for his The recession, meanwhile, dis- company, his community and our city. abused some Asian-Americans of the notion that the traditional academic-corporate track was bul- Michael started The Griffin Security Agency letproof. Many had to get creative. Asian enrollment in graduate school in the Bronx with just 40 employees. Today, flatlined in 2010 after having risen
© 2012 Consolidated Edison Company of New York, Inc. Ad: UniWorld Group, Inc. Photos: Anthony Barboza Inc. Ad: UniWorld © 2012 Consolidated Edison Company of New York, thanks in part to the Con Edison Supplier for years, according to the Council Diversity Program, his company provides of Graduate Schools. And thanks in part to role models like YouTube co- more than 500 local jobs. founder Steve Chen and Yahoo co- founder Jerry Yang, many Asian- Americans are starting companies We’re always looking for entrepreneurs, like that provide them a path to success Michael Smith, who are ready to plug into a without their having to play by the rules of American culture. new network of opportunities. Ms. Chang has made the jump twice. She left Goldman Sachs after a year to found Simplycity,a women’s Find out if your business is ready to grow with lifestyle magazine. She was later us. Visit ConEd.com/supplierdiversity or call CEO of fashion company Vivienne 212-460-3076. Tam, and in May 2010 founded Luckyrice, an integrated media and marketing company that focuses on Asian cuisine and culture. She calls herself “an entrepreneur at heart.” Luckyrice exemplifies another trend among Asian-Americans.Be- cause many still have ties to their roots, they tend to develop compa- nies that tap into them. In May, Luckyrice will host an Asian food festival in New York, Las Vegas and Los Angeles featuring a grand feast and well-respected chefs,along with presentations about the culture. “As an entrepreneur, I saw the opportunity to create a lifestyle business around Asian cuisine,” she said.“I want to tell the story of Asian culture, and the lens of food and MICHAEL SMITH drink is one that everyone can get excited about.” OWNER, THE GRIFFIN SECURITY AGENCY Mr. Lao’s culture influenced Rickshaw Dumplings as well: His business focuses on dumplings, which he said were a big part of his childhood. “Having worked in New York City,and seeing so many successful Asian-owned and Asian-run busi- nesses—it’s such an inspiration,” he said. Ⅲ
14 | Crain’s New York Business | April 30, 2012 20120430-NEWS--0015-NAT-CCI-CN_-- 4/26/2012 5:34 PM Page 1
REPORT DIVERSITY NY Area’s Largest Minority-Owned Companies Ranked by 2011 revenues
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", .$)(( '&&/ ) =4,8 "?6>4@08/9< (6410.C.60 * >3'> AAA ,=4=C=>07 .97 3,4<7,8.34010B0.?>4@0 =0<@4.0=,8/=C=>07 #0A+9<5#+ 48>02<,>498 -$- )) - ) &+ '&/ $- * =4,8 99/:<9.0==482,8/ 466=4/0@0 AAA 9,=4=199/= .97 %<0=4/08>.34010B0.?>4@0 :,.5,2482 466=4/0# ,.& .. $,3( '%* $- 4=:,84. !,>489 ,4 April 30, 2012 | Crain’s New York Business | 15 20120430-NEWS--0016-NAT-CCI-CN_-- 4/26/2012 5:35 PM Page 1 REPORT DIVERSITY middle-market family-owned and Hispanic businesses. Minority asset firms Similarly, $440-million African- VC MARKET STILL A TOUGH ONE American-owned private equity firm BREAKING INTO AT LEAST ONE SECTOR Continued from Page 13 of the financial world, venture capital, March, the city’s Employee Retire- ICV Partners focuses on small busi- remains a steep climb for minorities and women. higher risk, but they also generate ment System trustees passed a reso- nesses. “In small companies, price is Minority-owned Ascend Venture Group, for one, is winding down its high returns because they tend to be lution authored by Manhattan Bor- not the key driver,” said CEO and hungrier and more nimble,” said ough President Scott Stringer to Managing Partner Willie Woods. operation and starting over with some new partners. Ascend specializes in Renae Griffin, head of RG & Asso- strengthen its emerging manager “It’s mostly chemistry: Can I work educational and technology businesses and has 10 companies in its ciates,a California firm that runs con- program.Companies such as North- with you, and can you be helpful to portfolio, but it has struggled to get in on high-profile, high-return deals, said ferences and boot camps for these ern Trust and Morgan Stanley are me? The minority struggle, in which managing partner Darryl Wash. managers. directing capital to women- and people have done well despite the “As a minority firm, we did not have access to some of the best deal Between 2005 and 2010, emerg- minority-owned asset managers. odds, plays well to that group.” flow and opportunities,” Mr. Wash said. “No one has denied us access, ing managers outperformed the in- Emerging firms still have their but in reality it’s about access to the entrepreneurial community and dustry’s behemoths by an average of Niche success share of challenges. The overall in- figuring out how you create that dialogue. I haven’t had the avenues to 72 basis points,according to a North- Minority firms play in all corners vestment business is not growing,and establish that rapport.” ern Trust study. That performance is of the asset management business, it’s still hard for small, young firms to Willie Woods, managing partner of private equity firm ICV Partners, helping drive increased commit- from hedge firms to private equity get a foot in the door. Manager-of- agrees: “You have to be in the flow to meet those people, and minorities and ments by big funds, especially public and fixed income, and their princi- managers Capital Prospects went women haven’t been in that flow.” pension funds. A manager-of-man- pals often have decades of experi- from zero assets in 2002 to $1 billion Add to that a venture capital business that has had a rocky few years, agers industry has sprung up to match ence on Wall Street.But unlike huge with eight public pension funds as raising a fraction of what it did a decade ago. The economy is still a drag emerging firms with big investors. firms with dozens of funds, they clients,but needed three years to raise on IPOs as an exit strategy for VCs, and investors are chasing a lot of look- The idea of having strategies that succeed by carving out niches. its first $75 million.“For an emerging alike companies. generate new sources of investment Women-owned AH Lisanti Cap- firm with a small amount of assets un- Founded in 2000, Ascend has raised $150 million in two funds. It return has become institutionalized,” ital Growth has gone to $300 million der management to get a direct man- weathered the dot-com bust and had a healthy portfolio until the recession said Thurman White, CEO of from $1 million in eight years, focus- date from a public or private institu- killed some of its companies. Its investments in education continue to do Progress Management, a $7.2 billion ing on U.S. small-cap growth stocks. tion is near impossible,” co-founder well, said Mr. Wash, but getting in on hot deals remains a challenge. minority-owned manager-of-man- John Hsu,of John Hsu Capital Man- Marilyn Freeman said. The new company, Bennu Venture Group, will manage the Ascend agers that does business with city and agement, who got into the business Emerging managers acknowl- portfolio and work, at least initially, with venture firms on the West Coast, state pension funds in New York. more than 20 years ago when Asians edge that being women- or minority- where Mr. Wash’s new partners have longstanding relationships. City Comptroller John Liu last were rare on Wall Street, said his as- owned has opened doors,but all say it “It will allow us to be in the same deals that are creating returns in our year added $500 million to the $6 sets under management have in- wouldn’t matter if they didn’t per- business,” he said, adding that Bennu has already gotten in on some. “By billion in city pension funds allocat- creased to $600 million, from $344 form.“At the end of the day,they were being in a couple of deals, you’re part of the club, and people say, ‘You must ed to emerging managers and re- million, over the past five years. betting on me or not,” Mary Lisanti, know what you’re doing.’ ” cently hired former U.S. Commerce The founders of newly launched, founder and CEO of AH Lisanti, Department official Alex Doñé to Hispanic-owned AUA Private Eq- said.“Credibility and the track record —JUDITH MESSINA head the private equity portion. 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Just last decided to do that, I was asked The arrival of the deep- Stella McCartney, who opened a week, Ugg Australia President if I was interested in the job. I pocketed retailing heavyweights is new store in January on Greene Connie Rishwain listed the neigh- told them, “Absolutely.” I’d just driving up rents, making life ever Street in SoHo, a strip rising in bors as one of the chief reasons for come off a six-year coaching more challenging for their more popularity for fashion tenants. Ru- moving into the district. She specif- stint in Atlanta;it was still fresh fashionable forebears. In 2003, when bin & Chapelle closed its meat- ically cited Stella McCartney and in my mind. It was good to get designers including Yigal Azrouël packing shop in April and will re- Alexander McQueen. the opportunity to go back in and Carlos Miele first came to portedly relocate to the hot seat. the neighborhood, rents Mercer Street in SoHo No, it’s only getting stronger I mean, it doesn’t get much ranged from $65 to $75 a $500 this summer. Adam Despite the departures, Ms. better than coaching in New square foot. Such bargains TOP RENTS Lippes shuttered his Danziger of the MPIA insists the York.This is where I started my could still be had a few years per square foot in Hudson Street shop earli- neighborhood’s changes are only NBA career as a player after the meatpacking later when bigger names like district today er this year. Designer Jus- strengthening its reputation as a go- college.To be able to circle back Diane von Furstenberg inked sara Lee relocated to the to spot for tourists and New after 30-something years is like their leases. No more. Today, more affordable Bedford Yorkers alike. a dream come true.I was ecstat- prime spaces command rents of as Street, while Shelly Steffee closed “Even though the mainstream ic, very humble and excited. much as $500 a square foot,with even her 2,300-square-foot shop on brands are coming here, they’re still secondary spots going for $250 per Gansevoort two years ago because in line with the high-end fashion Cameras have caught you pulling square foot. of lease negotiation problems. and high-end food and cultural des- players aside after removing them Alexander McQueen, whose late tination that is the meatpacking dis- from games and engaging in Affordability issue newscom namesake designer opened his trict,” said Ms. Danziger. heated discussion. FOLLOWING SUIT: Woodson got buy-in from star “It’s like any cutting-edge neigh- store on West 14th Street nearly a What remains to be seen,though, That’s my only time to teach. Carmelo Anthony, and the Knicks started winning. borhood,” said Ben Fox, executive decade ago, is said to be looking to is whether that heady mix can survive People might think it’s belit- vice president of retail leasing eventually leave as well. the new climate of nosebleed rents.Ⅲ tling a player or getting on a at Massey Knakal. “Once the “About a dozen have left—some player, but it’s not. It’s coaching. tor to me.” And he did. That’s a rents start getting up there, the en- last year, some 10 minutes ago,” Ms. LISTEN to a discussion at That’s my time to coach because complete circle for me, to be able to trepreneurial fashion designer can’t Consolo said. CrainsNewYork.com/podcasts we don’t have time to in practice. work with your high school coach. Sometimes they just don’t get the message in film sessions. So you The Knicks traded you to the Nets after have to communicate it to them. your first season as a player, and then Zell bends on union construction the Nets dealt you after seven games. Whom do you look to for advice? The Hawks let you go after you turned a I’m a basketball nut. It doesn’t mat- 13-win team into a perennial playoff Continued from Page 1 an agreement at a third develop- tage of the agreement. ter who you are, if something comes contender. Does that make you more on the project, which is being devel- ment site, on the grounds of the “[The project-labor agreement] out of your mouth from a basketball motivated to win in this job? oped with Toll Brothers, has Cathedral Church of St. John the is beginning to bear some big fruit,” standpoint and it sounds good, I When you get traded, obviously the reached an agreement with the Divine, where it hopes to construct the building-trades source said. might use it. Is it stealing informa- team that trades for you wants you. Building and Construction Trades a 12- to 14-story apartment build- But some developers say the har- tion? Could be. But if I think it I never look at it as if New York gave Council that will knock 20% off ing.The development faces opposi- vest is lacking. Major projects are might work to help me gain an ad- up on me. When I got let go from standard union labor costs. tion from community members who being built by nonunion workers vantage and win a basketball game, Atlanta,hey,it was a great run,a six- His decision comes after a peri- want the parcel landmarked. Equity across Manhattan, a development or teach a player along the way,then year run I had. They gave me six od when organized labor bashed Residential could use help from the unthinkable just a decade ago. And I think it’s worthwhile. years to build a basketball team. Chicago-based Equity Residential building trades in moving the proj- some industry insiders say it’s more Did I get to finish the job? No, I for swooping into the city to con- ect forward, which might tilt that relevant to look at decisions by a You’ve talked about the influence that didn’t. But hey, that’s life in our struct a 111-unit building on West development into organized labor’s long-standing developer in New coaches like Larry Brown and Bobby league. You don’t hang your head, 23rd Street with nonunion work- fold. York, such as AvalonBay Commu- Knight have had on your coaching style. you pick up the pieces and you keep ers. Union members followed Mr. “Zell will make whatever eco- nities, than a relative newcomer like Has anyone outside of basketball played moving. Here I am, coach of the Zell to public speaking engage- nomic decision is right,”said one real Equity, which is still feeling its way. a role? New York Knicks in the greatest ments with raucous protests, and estate executive who closely follows AvalonBay was offered a labor I’ve learned a lot from a lot of peo- basketball market in the world. website EquityResidentialWatch Equity Residential. “I don’t think agreement on its massive West 28th ple over my career—from my play- .info dished dirt on his company. they’ve found religion and are say- Street residential project near 11th ing days, the coaches I played for, all How’s coaching in New York different At the same time, local contrac- ing, ‘Ooh, we need to go union.’ ” Avenue, and bid it out both union the coaches I worked for as an assis- from in Atlanta? tors and developers made the real An Equity spokesman did not and nonunion. But it’s already using tant, and I’m still learning. My Atlanta’s not a basketball town. estate investment trust Exhibit A nonunion Bohemia Concrete to brother and my family played a great They came to like our product we in their case that if construction pour the foundation. role in my success. People who have put on the floor and I respect them unions didn’t offer meaningful ‘Sam Zell will “I think we’re making progress, watched me since high school, col- wholeheartedly for that because concessions, more and more proj- but we have to continue to find a way lege and pros, I can ask for advice, when we first started,we didn’t have ects would go nonunion. Mr. Zell’s make whatever to reduce union construction costs if good or bad. Friends who have been those fans. They came to like it and West 23rd Street project, his first we’re going to stem the tide of in my stable for many, many years, I started to come see us play.That was major build-out in New York, economic nonunion work,” said Louis Colet- can call and get advice. the beauty of winning in Atlanta. served as the backdrop for con- ti, president of the Building Trades But this city here is like no other tentious contract negotiations last decision is Employers’ Association, which rep- You’re one of 12 kids. That must have an city. You win here, and the people summer between unions and con- resents union contractors. influence on how you deal with people. love what you do. It’s been a good tractors. right,’ said one It does. We were a very close-knit run so far, but we still have a lot of The move by Mr. Zell appears to Savings may not materialize group, didn’t have much. I’ve grown work on our hands. be a practical decision based on a real estate exec Other major developers, includ- over the years. I don’t need much to combination of the labor discount, ing Toll Brothers, the Elad Group survive—as long as my family is tak- Have you started to think about what it the scale of the new 40-story build- and the Brodsky Organization, are en care of and I’m able to do the would be like to win here? ing and the presumed need to get fu- building projects nonunion. things I need to do. I’ve always thought about that. ture projects approved by local gov- In project-labor agreements be- The fact that I’ve been allowed to When I played here, my thought ernment. return several calls seeking com- tween unions and developers, indi- coach at this level, it’s a gift in itself. process has always been if you can ment. A Lend Lease spokeswoman vidual trades decide how to produce I just try every day as a coach to make win an NBA title in New York, it St. John the Divine site next referred calls to Equity Residential. the savings—usually a combination the most of it because I know it’s not would probably be the most awe- A union source said a similar Equity Residential agreed to the of staffing and work-rule changes, going to last forever. some experience you can imagine. cost-savings agreement had been union deal at a time when organ- cuts in hourly rates in wages and re- reached by construction manager ized labor has expanded its offering ductions in fringe benefits. Some in One of the first things you did when How big a Knicks fan is owner James Plaza Construction for an Equity of concessions to help spur residen- the real estate industry are not con- named coach was to name your high Dolan? Residential mixed-use project on tial work in Manhattan. More than vinced that savings promised in school coach to your staff. Why? He’s a huge Knicks fan. He wants to Amsterdam Avenue between West $1 billion in projects are making project-labor agreements always I did it because he was there from win in the worst way. I think he’s 66th and West 67th streets,but not- use of a Manhattan residential materialize and are tired of trying to the very beginning. He’s followed done everything possible in terms of ed it now appears the 230-unit resi- project-labor agreement reached make them work. my career.I had him in Atlanta with putting the pieces in place. I want to dential building was on the verge of between labor, developers and con- Signing up Mr. Zell is a victory me. He retired from high school win for him. That’s why I accepted going nonunion anyway. tractors late last year. Develop- for labor, but it’s far from the end of around the time I was getting the job this job.I want to win for Mr.Dolan, Equity Residential is in the early ments worth hundreds of millions a construction debate that shows no in Atlanta, and I said, “Hey, come and I want to win for the city of stages of discussions with unions on more are queued up to take advan- sign of ebbing. Ⅲ learn the NBA game and be a men- New York. Ⅲ April 30, 2012 | Crain’s New York Business | 17 nb18p18-20cl.qxp 4/27/2012 7:08 PM Page 18 AUCTION/ EXECUTIVE PUBLIC & LEGAL NOTICES Notice of Qualification of ANDERSON Notice of Qualification of KENTREL FORECLOSURE SALE RECRUITER GLOBAL MACRO LLC. Authority filed NYC LLC. Authority filed with Secy. of with Secy. of State of NY (SSNY) on State of NY (SSNY) on 01/24/12. Office POSITIONS 02/06/12. Office location: NY County. location: NY County. LLC formed in AVAILABLE LLC formed in Delaware (DE) on Pennsylvania (PA) on 01/04/12. SSNY 01/17/12. Princ. office of LLC: 1745 designated as agent of LLC upon Programmer/Analyst Broadway, 17th Fl., NY, NY 10019. whom process against it may be (AllianceBernstein L.P. – New York, NY) SSNY designated as agent of LLC served. SSNY shall mail process and Formulate & implement quant mdls to upon whom process against it may PA addr. to c/o Kentrel, Inc., 820 be served. SSNY shall mail process Springbrook Ave., Moosic, PA 18507. improve exist’g internl rsrch tools, to the LLC at the addr. of its princ. Arts. of Org. filed with Secy. of the download mrkt data, & solve a variety of office. DE addr. of LLC: Corporation Commonwealth, PA Dept. of State, prob. Req’s a Master’s degr in Comp Sci, Service Co., 2711 Centerville Rd., Corporation Bureau, 401 North St., Rm. Enginr’g, or rel field & 3 yrs of dvlpnt exp Wilmington, DE 19808. Arts. of Org. 206, Harrisburg, PA 17120. Purpose: using .Net framewrk (2.0/3.0/3.5) w/i the filed with Secy. of State, Div. of Plumbing and related services. 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Purpose: any lawful act or activity. 18 | Crain’s New York Business | April 30, 2012 nb18p18-20cl.qxp 4/27/2012 7:07 PM Page 19 PUBLIC & LEGAL NOTICES Notice of Qualification of International Notice of Qualification of Port Notice of Qualification of United Notice of Foreign Registration of Notice of Qualification of SOVARNUM AG Insurance Solutions LLC. Authority Imperial Racing Associates, LLC. App. Shore Financial Services, LLC. GTC Law Group LLP. Authority filed CAPITAL L.P. Authority filed with Secy. filed with NY Dept. of State on for Auth. filed with Secy. of State of Authority filed with NY Dept. of State with NY Dept. of State on 2/2/12. of State of NY (SSNY) on 02/28/12. 3/21/12. NYS fict. name: International NY (SSNY) on 2/10/12. Off. loc.: NY on 4/3/2012. Office location: NY Office location: NY County. LLP Office location: NY County. LP formed AG Insurance Services LLC. Office County. LLC formed in Delaware (DE) County. LLC formed in MI on registered in MA on 8/14/02. 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Cert. of Form. filed with DE Sec. 2501 Woodlake Cir., Okemos, MI Notice of Formation of Half Irish LLC. of DE, Dept. of State, Div. of Corps., of State, 401 Federal St., Dover, DE Notice of Formation of Opportunity 48864. Purpose: all lawful purposes. Arts. of Org. filed with Secy. of State John Townsend Bldg., Dover, DE 19901. Purpose: all lawful purposes. Shoes LLC. Art. Of Org. filed with of NY (SSNY) on 3/27/12. Office 19901. Purpose: Any lawful activity. SSNY 3/23/12. Office Location: NY Notice of Formation of ORANGE location: NY County. SSNY designated NOTICE OF FORMATION OF County. SSNY designated as agent APARTMENT INVESTORS 4, LLC. Arts. as agent of LLC upon whom process Notice of Qual. of Signpost Capital, CleanStar Ventures LLC. Arts of Org for process. SSNY shall mail a copy of Org. filed with Secy. of State of NY against it may be served. SSNY shall LLC, Auth. filed Sec’y of State (SSNY) filed with Secy of State of NY (SSNY) of any process to: c/o National (SSNY) on 03/07/12. Office location: mail process to: The LLC, 259 1/2 9/2/11. Office loc.: NY County. LLC on 3/12/12. Office location: NY Registered Agents, Inc., 875 Ave. of NY County. Princ. office of LLC: 360 West 21st St., Apt. G, NY, NY 10011. org. in DE 8/26/11. SSNY desig. as County. SSNY designated as agent the Americas, Ste. 501, New York, Madison Ave., Ste. 1902, NY, NY Purpose: any lawful activities. agent of LLC upon whom process upon whom process may be served. NY 10001. The registered agent of 10017. SSNY designated as agent of against it may be served. SSNY shall The PO address to which SSNY shall the LLC upon whom process against LLC upon whom process against it may 326 WEST 89TH STREET LLC, a mail copy of proc. to 41 W. 58th St., mail copy of process against LLC: it may be served is: National be served. SSNY shall mail process domestic LLC, Arts. of Org. filed with Apt. 11A, NY, NY 10019. DE off. addr.: 156 Fifth Ave. Ste 1107 NY, NY Registered Agents, Inc., 875 Ave. of to Edward D. Feldstein, Esq., 10 the SSNY on 12/29/11. Office location: CSC, 2711 Centerville Rd., 10010. Principal business address: the Americas, Ste. 501, New York, Weybosset St., 8th Fl., Providence, RI New York County. SSNY is designated Wilmington, DE 19808. Cert. of Form. 156 Fifth Ave. Ste 1107 NY, NY NY 10001. Purpose: To engage in 02903. Purpose: Any lawful activity. as agent upon whom process against on file: SSDE, Townsend Bldg., Dover, 10010. Purpose: any lawful act. any lawful act or activity. the LLC may be served. SSNY shall DE 19901. Purp.: any lawful activities. Notice of Qual. of Signpost Capital mail process to: The LLC, 445 Park NOTICE OF FORMATION OF Double NOTICE OF FORMATION OF Advisors, LLC, Auth. filed Sec’y of Ave., Ste. 1501, NY, NY 10022. M KLEIN PROPERTIES LLC, a Flawless LLC. Arts of Org filed with VASCULARSOURCE, LLC. Arts of State (SSNY) 9/2/11. Office loc.: NY General Purposes. domestic LLC, Arts. of Org. filed Secy of State of NY (SSNY) on 11/4/11. Org filed with Secy of State of NY County. LLC org. in DE 8/26/11. with the SSNY on 12/22/11. Office Office location: NY County. SSNY (SSNY) on 01/25/12. Office location: SSNY desig. as agent of LLC upon NICHOLAS PATRICK PRODUCTIONS location: New York County. SSNY is designated as agent upon whom NY County. SSNY designated as whom process against it may be LLC, a domestic LLC, Arts. of Org. designated as agent upon whom process may be served. PO address agent upon whom process may be served. SSNY shall mail copy of filed with the SSNY on 1/20/12. process against the LLC may be to which SSNY shall mail copy of served and shall mail copy of process proc. to 41 W. 58th St., Apt. 11A, NY, Office location: New York County. served. SSNY shall mail process to: process against LLC: Imeld Vasquez against LLC served to principal NY 10019. DE off. addr.: CSC, 2711 SSNY is designated as agent upon The LLC, 445 Park Ave., Ste. 1501, c/o Legalzoom.com, Inc. 101 N. business address: c/o George J. Todd, Centerville Rd., Wilmington, DE whom process against the LLC may be NY, NY 10022. General Purposes. Brand Blvd., 11th Fl, Glendale, CA 1000 Tenth Ave. NY, NY 10019. 19808. Cert. of Form. on file: SSDE, served. SSNY shall mail process to: 91203. Principal business address: Purpose: any lawful act. Townsend Bldg., Dover, DE 19901. Nicholas Patrick, 211 E. 10th St., Apt Notice of Formation of HH 81ST 196 W 10 5C, NY, NY, 10014. Purp.: any lawful activities. 4, NY, NY 10003. General Purposes. STREET LLC. Arts. of Org. filed Purpose: any lawful act. Notice of Formation of Thyroid with Secy. of State of NY (SSNY) on Cancer Care Collaborative LLC. Arts. JKIG, LLC. Articles of Org. filed NY FORDHAM FUND LLC Articles of Org. 9/2/11. Off. loc.: NY Cty. SSNY NOTICE OF FORMATION OF GOLDEN of Org. filed with NY Dept. of State Sec. of State (SSNY) 4/11/2012. filed NY Sec. of State (SSNY) 3/26/12. designated as agent of LLC upon KYLIN (U.S.) LLC. Arts of Org filed on 3/12/12. Office location: NY Office in NY Co. SSNY desig. agent Office in NY Co. SSNY desig. agent whom process against it may be with Secy of State of NY (SSNY) on County. Princ. bus. addr.: 10 Union Sq. of LLC upon whom process may be of LLC upon whom process may be served. SSNY shall mail process 7/20/11. Office location: NY County. East, Ste. 5B, NY, NY 10003. Sec. of served. SSNY shall mail copy of served. SSNY shall mail copy of to: c/o Centaur Properties, LLC, SSNY designated as agent upon State designated agent of LLC upon process to Warren Susman c/o process to c/o Fordham University 609 Greenwich St., 4th Fl., NY, NY whom process may be served and whom process against it may be Wonder Works, 18 W. 21ST St., 4th (GBA), 113 W. 60th St., NY, NY 10023, 10014. Purpose: any lawful activity. shall mail copy of process against served and shall mail process to: Jack Flr., NY, NY 10010. Purpose: Any which is also the principal business LLC to principal business address: A. Garraty, Jr., Esq., c/o Kelley Drye lawful purpose. location. Purpose: Any lawful purpose. Notice of formation of FELIX, LLC 36 W 44TH ST, STE 707, NY, NY & Warren LLP, 101 Park Ave., NY, NY Arts. of Org. filed with the Sect’y of 10036. Purpose: any lawful act. 10178. Purpose: any lawful activity. Notice of Formation of HVRMINN SAUCE PROPERTIES LLC, a domestic State of NY (SSNY) on 2/9/2012. LLC. Arts of Org filed with Secretary LLC, Arts. of Org. filed with the SSNY Office location, County of New York. Notice of Formation of PowerFill LLC. Notice of Formation of House of of State of NY (SSNY) on 3/8/12. on 2/3/12. Office location: New York SSNY has been designated as agent Arts. of Org. filed with Secy. of State Ippolita LLC. Arts. of Org. filed with Office location: NY Co. SSNY County. SSNY is designated as of the LLC upon whom process of NY (SSNY) on 03/12/12. Off. loc.: Sec. of State of NY (SSNY) on designated as agent of LLC upon agent upon whom process against against it may be served. SSNY shall NY Co. SSNY designated as agent of 5/27/05. Office location: NY County. whom process may be served and the LLC may be served. SSNY shall mail process to: The LLC, 27 Ludlow LLC upon whom process against it SSNY designated agent of LLC upon shall mail process to The LLC at 262 mail process to: The LLC, c/o Alan Street, NY, NY 10002. Purpose: any may be served. SSNY shall mail whom process against it may be W. 38th St., #1204, New York, NY Fontevecchia, 721 5th Ave., Ste. 37A, lawful act. process to the LLC, c/o Robinson served and shall mail process to: c/o 10018. Purpose: Any lawful activity. NY, NY 10022. General Purposes. Brog, et al., Attn: Russell W. Rosen, Seno Jewelry LLC, 259 W. 30th St., Notice of Formation of Evan A. Davis Esq., 875 Third Ave., 9th Fl., New 10th Fl., NY, NY 10001. Purpose: any JSTERN REALTY LLC, a domestic PERFECT JEWELRY LLC Articles of LLC. Arts. of Organization filed with York, NY 10022. Purpose: any lawful lawful activity. LLC, Arts. of Org. filed with the Org. filed NY Sec. of State (SSNY) Secy. of State of NY (SSNY) on act or activity. SSNY on 3/7/12. Office location: 3/29/2012 . Office in NY Co. SSNY 03/21/12. Off. loc.: NY Co. SSNY Notice of Formation of AJAV LLC. Arts. New York County. SSNY is designated desig. agent of LLC upon whom designated as agent of LLC upon of Org. filed with Secy. of State of NY as agent upon whom process process may be served. SSNY shall whom process against it may be Notice of Qual. of Daruma Capital (SSNY) on 02/21/12. Office location: Management, LLC, Auth. filed Sec’y against the LLC may be served. mail copy of process to 36 W. 44th served. SSNY shall mail process to NY County. SSNY designated as SSNY shall mail process to: the LLC, St., Ste. #801, NY, NY 10036. the LLC, One Liberty Plaza, 45th of State (SSNY) 6/17/11. Office loc.: agent of LLC upon whom process NY County. LLC org. in DE 6/9/11. 156A E. 83rd St., New York, NY Purpose: Any lawful purpose. Floor, New York, NY 10006. Purpose: against it may be served. SSNY shall 10028. General Purposes. any lawful act or activity. SSNY desig. as agent of LLC upon mail process to Corporation Service Notice of Qualification of 166/75 whom process against it may be Co., 80 State St., Albany, NY 12207- NOTICE OF FORMATION OF LIMITED VENTURES LLC. App. for Auth. filed Notice of Qual. of Daruma Bodhi served. SSNY shall mail copy of proc. 2543. Purpose: Any lawful activity. LIABILITY COMPANY. NAME: 450 with Secy. of State of NY (SSNY) on Fund, LP, Auth. filed Sec’y of State to Att: David Gerber, 80 W. 40th St., CEDAR VIEW LLC. Articles of 3/6/12. Off. loc.: NY Cty. LLC formed (SSNY) 6/13/11. Office loc.: NY 9th Fl., NY, NY 10018. DE off. addr.: Notice of Formation of ANTACONPADA Organization were filed with the in Delaware (DE) on 2/1/11. SSNY County. LP org. in DE 6/9/11. SSNY CSC, 2711 Centerville Rd., Wilmington, LLC. Arts. of Org. filed with Secy. of Secretary of State of New York designated as agent of LLC upon whom desig. as agent of LP upon whom DE 19808. Cert. of Form. on file: State of NY (SSNY) on 3/15/12. Office (SSNY) on 02/29/12. Office process against it may be served. SSNY process against it may be served. SSDE, Townsend Bldg., Dover, DE location: NY County. SSNY designated Location: New York County. SSNY shall mail process to: c/o Argent SSNY shall mail copy of proc. to Att: 19901. Purp.: any lawful activities. as agent of LLC upon whom process has been designated as agent of the Ventures LLC, 551 Fifth Ave., NY, NY David Gerber, 80 W. 40th St., 9th Fl., against it may be served. SSNY shall LLC upon whom process against it 10176. DE address of LLC: National NY, NY 10018. DE off. addr.: CSC, Notice of Formation of 30 East 20 mail process to: c/o Moses & Singer may be served. SSNY shall mail a Corporate Research, Ltd., 615 S. 2711 Centerville Rd., Wilmington, DE LLC. Art. Of Org. filed with SSNY LLP, 405 Lexington Ave., NY, NY copy of process to the LLC, 450 East DuPont Hwy., Dover, DE 19901. Arts. 19808. Cert. of LP on file: SSDE, 2/1/12. Office Location: New York 10174, Attn: Daniel S. Rubin. 83rd Street, Apartment 21D, New of Org. filed with DE Secy. of State, Townsend Bldg., Dover, DE 19901. County. SSNY designated as agent Purpose: any lawful activity. York, New York 10028. Purpose: Duke & York St., Dover, DE 19901. Name/addr. of each gen. ptr. avail. at for process. SSNY shall mail a copy For any lawful purpose. Purpose: any lawful activity. SSNY. Purp.: any lawful activities. of any process to: The LLC, c/o Notice of Formation of WOW FACTOR Walter & Samuels, Inc., 419 Park LLC. Arts. of Org. filed with Secy. of Ave. South, New York, NY 10016. State of NY (SSNY) on 04/06/12. Attn: Mr. David I Berley. Purpose: To Office location: NY County. SSNY engage in any lawful act or activity. designated as agent of LLC upon Get connected with Crain’s New York Business. whom process against it may be Notice of Qualification of VALENTINA served. SSNY shall mail process PROPERTIES LLC. Authority filed to Davis & Gilbert LLP, 1740 with Secy. of State of NY (SSNY) on Broadway, NY, NY 10019. Purpose: 04/06/12. Office location: NY County. Any lawful activity. Promote your product or service to NY’s decision makers with an affordable LLC formed in Delaware (DE) on business card size ad in our Business Connections section. 03/16/12. Princ. office of LLC: 675 3rd Notice of Qual. of Varna SPV I LLC, Ave., 26th Fl., NY, NY 10017. SSNY Auth. filed Sec’y of State (SSNY) designated as agent of LLC upon 3/15/11. Office loc.: NY County. LLC Issue Dates for Business Connections: whom process against it may be org. in DE 11/4/10. SSNY desig. as Crain’s Fast Fifty (6/25), City Facts (8/27), & Book of Lists (12/24) served. SSNY shall mail process to c/o agent of LLC upon whom process Grant, Herrmann, Schwartz & Klinger against it may be served. SSNY shall LLP at the princ. office of the LLC. DE mail copy of proc. to Att: Svetlana For more information on this powerful opportunity to showcase your business, addr. of LLC: DE Corp. Organizers, Lee, 750 Lexington Ave., 23rd Fl., Inc., 1201 N. Market St., P.O. Box NY, NY 10022. DE off. addr.: CSC, call Joanne Barbieri at 212-210-0189 1347, Wilmington, DE 19801. Arts. of 2711 Centerville Rd., Wilmington, DE or email Joanne at [email protected] Org. filed with DE Secy. of State, 401 19808. Cert. of Form. on file: SSDE, Federal St., Ste. 3, Dover, DE 19901. Townsend Bldg., Dover, DE 19901. Purpose: Any lawful activity. Purp.: any lawful activities. Let Crain’s New York Business help you secure new clients in 2012. April 30, 2012 | Crain’s New York Business | 19 20120430-NEWS--0020-NAT-CCI-CN_-- 4/27/2012 7:57 PM Page 1 running carts 24 hours a day,” said walk around.They’ll go in the street. ed when the city’s franchise agree- Mostafa Sayed, who has been sell- But if something happens,they’ll sue ment with phone carriers expires in Herds on the street ing street meat in east midtown for you, and there’s nothing you can do.” 2014. In coming weeks, the city will 17 years. Demand to operate the The best way to manage the mad- issue a request for information “ask- Continued from Page 1 they will “have no choice but to es- limited number of carts has pushed ness is to make sidewalks bigger, said ing what people want to see as the unfolded on New York City’s side- tablish comparable sidewalk termi- up the price of permits,which sell on Fred Kent, founder and president of next-generation pay phone,” said a walks.But in recent years the compe- nals” adjacent to the Port Authority the black market for thousands of the Project for Public Spaces, a non- spokesman for the Department of tition for street space has accelerated. Bus Terminal, where they currently dollars each, he said. profit based in New York. “That Information Technology and Food trucks and vendors have pay $6 million a year to park. Last week, the City Council held would spur major economic develop- Telecommunications. proliferated since the recession in- “Sidewalk activity is what makes hearings on legislation to more close- ment,” he said, adding that the city A somewhat older technology creased demand for affordable street New York vibrant,”said Alex Maut- ly regulate street salesmen. “Vendors should remove car lanes to widen still carries the prospect of brisk fare. Sidewalk cafés now number ner, a former commissioner of the are concentrating in areas where they narrow sidewalks. “Cars don’t shop.” sidewalk sales. The timeless um- 1,153, up 35% in the past four years. Department of Transportation, aren’t supposed to be,” said Daniel Parking spots may be the first ca- brella has kept Joe Mele selling on Discount bus carriers have turned which regulates much of the Garodnick, the chairman of the sualty of the coming bike-share pro- the streets for 33 years. crowded curbs in midtown and Chi- streetscape. “The question is, how Consumer Affairs Committee. gram. Most of the bicycle racks in At the first hint of rain last natown into depots. Scaffold crews do you harness it and how do you Mr. Mautner, who has worked as midtown’s Community Board 4— Thursday, the licensed vendor claim 150 miles for curbside con- bring a modicum of decorum to the a consultant in the business, believes from Eighth Avenue to the Hudson dashed to a wholesaler on Broadway struction. And this summer, the first streets so that it functions?” the city should allow permits to be River—are likely to be placed in the and West 28th Street to snap up um- of 10,000 new competitors for side- The wealth of walkers has bought and sold like taxi medallions. street, said Jenna Chrisphonte, the brellas for $1 each. When the rain walk space will arrive when the city’s brought opportunity to street sales- The value of a food-cart medallion board’s assistant district manager. hit, he was in Times Square on the bike-share program begins. men and the many businesses for would be tied to its location, giving corner of Broadway and 42nd With 8.3 million residents and whom curbs are cash cows. owners a stake in the success of the Old-school technology Street—a verboten zone for vendors 50.2 million tourists annually,it’s no Sidewalk cafés, for instance, have neighborhood where they operate— Not all sidewalk businesses are until 11 p.m.—selling them for $5 a wonder the city’s sidewalks are surg- become a virtual necessity for restau- or at least its cleanliness. growing. The ranks of newspaper pop. His sales record is 124 in eight ing.Pedestrian traffic at major inter- rants in many neighborhoods, said Jimmy Downes knows about get- vendors have dwindled since the days minutes, but during Thursday’s sections has grown 10% since 2007. Robert Bookman, a longtime indus- ting along with neighbors. Everest of afternoon editions to about 260. drizzle passersby largely ignored his try lobbyist. “Restaurateurs need to Scaffolding of the Bronx, the busi- And the once-ubiquitous pay phone calls of “push-button umbrellas”— Sidewalk war maximize every inch much more than ness Mr.Downes started in 2005,has is now a relative rarity.Just 12,729 re- except for a snide teenager who If the city renews a permit allow- they did 30 years ago,” he explained. some of the 6,892 permits for side- main, down from 35,000 a dozen cracked, “God is my umbrella.” ing discount carrier Megabus to Though the number of food-cart walk sheds in use last week,as count- years ago, and they’re used more for “Hey, I’m just trying to make an keep parking on East 41st Street be- permits is capped at 5,100, there are ed by the Department of Buildings. advertising than communicating. honest living,”Mr.Mele responded. tween Eighth and Ninth avenues, a now about 19,000 food-vending li- “It’s very hard to work on the side- That doesn’t mean phone kiosks Confident in his business plan, he sidewalk war could break out.Grey- censees to operate them. That walk,” said Mr. Downes, a native of are going away. In May, the added: “God won’t be his umbrella hound Lines, Peter Pan Bus Lines means a cart that sets up for lunch in Ireland. “Everyone gives you a hard Bloomberg administration will when the drops get bigger.” Ⅲ and Adirondack Transit Lines midtown might cater midnight time. They’re afraid of losing busi- launch a pilot program to replace warned in a pointed letter to Deputy snacks in the meatpacking district. ness.New York is a go-go town.Peo- some of the phones with tablet com- LISTEN to a discussion at CrainsNewYork.com/podcasts Mayor Robert Steel last week that “Now people with the permit are ple won’t stop for a flag guy. They’ll puters, a plan that could be expand- ing numbers—online.” you’re missing the buzz factor, the Web producers argue that their Web TV channels Of course,mainstream television word-of-mouth that drives people to five- to 15-minute programs are bet- programming is also increasingly watch [the show] more,” said Adam ter suited to an audience that’s sitting available online, at Hulu and Kasper, executive vice president, at desks or watching on a smart- Continued from Page 3 The studio is using the daily com- through the networks’ own sites. partnerships and investments, at ad- phone. Also, social media can give putting channels online for a frac- edy show to promote and premiere its Though the quality of Web produc- vertising agency Havas Digital. their shows a different kind of reach. tion of the $50 million he had to new series, which include the viral tions has improved over the years, “That’s what makes television work.” “We’re the thing you can share spend on a cable launch. And since cult hit You Suck at Photoshop—re- some media buyers say the best of If some advertisers are waiting with your friends on Facebook,”said it debuted on YouTube in mid- turning to the Web after a four-year what’s out there is still on television. for YouTube to grow, others are Joseph Epstein, chief marketing of- January, Network A has gotten break—and Co-op ofthe Damned.My eagerly investing. Revenue for My ficer of Digital Broadcasting more than 3 million views. Damn Channel will premiere more Fragmented audience Damn Channel, which has created Group,a Manhattan-based produc- Veterans of the Web video ter- than 30 new series this year, a quad- In addition, the YouTube audi- shows around brands such as Sub- tion and distribution company that rain say it makes a big difference be- rupling of production over 2011. ence is still considered too fragment- way and Fiat, spiked 300% in 2011 is launching Spaces, a home and de- ing attached to such a high-profile The Web TV business “has got- ed to provide the kind of scale many over the prior year, according to Mr. sign channel on YouTube. destination. Hell’s Kitchen-based ten significantly better in just the major advertisers want. YouTube’s Barnett, who is forecasting another Marketers also point out that scale entertainment studio and distribu- last year,”said CEO Rob Barnett,an sales team has responded by packag- 300% spike in 2012. He said the isn’t everything, and that Web video tor My Damn Channel launched alumnus of MTV and VH1 who ing channels by audience—like company would break even this year, has its own ways of connecting audi- the daily half-hour show My Damn founded the company in 2007. young moms or young men—but but he has stepped up spending on ences to a brand. There are opportu- Channel Live at the end of March, “More major brands are realizing some buyers still won’t choose Web programming, technology and a nities “to engage with the right set of and has seen a 25% increase in video there’s got to be a way to peel off TV for big investments. sales force as he builds “the televi- viewers, not just the most viewers,” views on the company’s home site,as some of those television dollars and “It’s great to have a small audience sion network of the future” inside said Amanda Richman, president of well as on its YouTube hub. get where the audience is in increas- that’s loyal, but most of the time the West Side studio. digital at ad agency MediaVest. Ⅲ PUBLIC & LEGAL NOTICES BILL LEVITZ LLC, a domestic LLC. NOTICE OF FORMATION OF NOTICE OF FORMATION OF Agnes NOTICE OF FORMATION OF Artisan NOTICE OF FORMATION OF Belfast Arts. of Org. filed with the SSNY on Meredith Henderson LLC. Arts of Org Jacobs Designs, LLC. Arts of Org Promo LLC. Arts of Org filed with Boys LLC. Arts of Org filed with Secy 02/22/2012. Office location: NY filed with Secy of State of NY (SSNY) filed with Secy of State of NY (SSNY) Secy of State of NY (SSNY) on of State of NY (SSNY) on 2/13/12. County. SSNY has been designated on 1/27/12. Office location: NY on 1/13/12. Office location: NY 01/04/12. Office location: NY County. Office location: NY County. SSNY as agent upon whom process against County. SSNY designated as agent County. SSNY designated as agent SSNY designated as agent upon whom designated as agent upon whom the LLC may be served. SSNY shall upon whom process may be served. upon whom process may be served process may be served and shall process may be served and shall mail process to: Ste 10X, 305 E. 24th PO address to which SSNY shall and shall mail copy of any process mail a copy of any process against mail copy of process against LLC to St, NY, NY 10010. Reg Agent: William mail copy of process against LLC: against LLC to principal business LLC to principal business address: principal business address: 232 E Levitz, Ste 10X, 305 E. 24th St, NY, NY 260 Riverside Dr. 9E NY, NY 10025. address: 333 E. 57th St, 13A, NY, NY 435 Central Park West Apt 4M, NY, 80th St, Apt 3, NY, NY 10075. 10010. Purpose: Any Lawful Purpose. Purpose: any lawful act. 10022. Purpose: any lawful act. NY, 10025. Purpose: any lawful act. Purpose: any lawful act. Notice of Qualification of Agora Notice of Qualification of Gogo LLC. Notice of Qualification of Direct Notice of Qualification of 66-72 FORT Notice of Qualification of SOCRATIC Talent, LLC. App. for Auth. filed with Authority filed with NY Dept. of State Markets Media, LLC. Authority filed WASHINGTON LIMITED PARTNERSHIP. LABS GP, LLC. Authority filed with Secy. of State of NY (SSNY) on 3/8/12. on 3/21/12. NYS fict. name: Aircell, with Secy. of State of NY (SSNY) on Authority filed with Secy. of State of NY Secy. of State of NY (SSNY) on Office location: NY County. LLC LLC. Office location: NY County. 2/15/12. pOffice location: NY County. (SSNY) on 03/22/12. Office location: 04/03/12. Office location: NY County. formed in Delaware (DE) on 3/7/12. Princ. bus. addr.: 1250 N. Arlington LLC formed in Delaware (DE) on NY County. LP formed in Delaware LLC formed in Delaware (DE) on SSNY designated as agent of LLC Heights Rd., Itasca, IL 60143. LLC 7/15/11. SSNY designated as agent (DE) on 03/20/12. SSNY designated 03/29/12. Princ. office of LLC: 500 upon whom process against it may formed in DE on 1/31/07. NY Sec. of of LLC upon whom process against as agent of LP upon whom process 7th Ave., 17th Fl., NY, NY 10018. be served. SSNY shall mail process State designated agent of LLC upon it may be served. SSNY shall mail against it may be served. SSNY shall SSNY designated as agent of LLC to: Corporation Service Company whom process against it may be process to: c/o Rodman & Renshaw mail process to Corporation Service upon whom process against it may (CSC), 80 State Street, Albany, NY served and shall mail process to: c/o Capital Group, Inc., Attn: Legal, 1251 Co. (CSC), 80 State St., Albany, NY be served. SSNY shall mail process 12207, who is the registered agent of CT Corporation System, 111 8th Ave., Ave. of the Americas, 20th Fl., NY, 12207-2543. Name and addr. of each to the LLC at the princ. office of the LLC upon whom process may be NY, NY 10011, regd. agent upon whom NY 10020, also the principal office general partner are available from LLC. DE addr. of LLC: 2711 served. DE address of LLC: CSC, process may be served. DE addr. of address. Address to be maintained SSNY. DE addr. of LP: CSC, 2711 Centerville Rd., Ste. 400, Wilmington, 2711 Centerville Rd., Ste. 400, LLC: c/o The Corporation Trust Co., in DE: 615 South DuPont Hwy, Centerville Rd., Ste. 400, Wilmington, DE 19808. Arts. of Org. filed with Wilmington, DE 19808. Arts. of Org. 1209 Orange St., Wilmington, DE Dover, DE 19901. Arts of Org. filed DE 19808. Arts. of Org. filed with Jeffrey W. Bullock, Secy. of State of filed with DE Secy. of State, 401 19801. Cert. of Form. filed with DE with the DE Secretary of State, 401 Secy. of State, State of DE, Div. of the State of DE, 401 Federal St., Federal St., Ste. 4, Dover, DE 19901. Sec. of State, PO Box 898, Dover, DE Federal St., Ste. 3, Dover, DE 19901. Corps., PO Box 898, Dover, DE Dover, DE 19901. Purpose: Any Purpose: any lawful activity. 19903. Purpose: all lawful purposes. Purpose: any lawful activities. 19903. Purpose: Real estate. lawful activity. 20 | Crain’s New York Business | April 30, 2012 20120430-NEWS--0021-NAT-CCI-CN_-- 4/27/2012 12:16 PM Page 1 58% Facebook users who are female BUSINESS LIVES Source: Ultraviolet HOT JOBS EXECUTIVE INBOX DIRECTOR OF CASE Anne Fisher MANAGEMENT AND EMPLOYMENT SERVICES The inside story COMPANY Bernard Nickels & Associates of how Gilt grew JOB DESCRIPTION Manage pro- WHEN ALEXIS MAYBANK and gram that serves 800-plus public- Alexandra Wilkis Wilson started assistance recipients who are in online retailer Gilt Groupe in treatment for substance abuse 2007, they gave early investors a MOST IMPORTANT TASKS revenue projection of $6 million Oversee the quality assurance in sales in 2008. Actual 2008 program and develop collabora- sales totaled more than $25 tive relationships with chemical- million. That ballooned to about dependence treatment programs $500 million by the end of fiscal CREDENTIALS NEEDED Master’s 2011. Now they have written a in social work; seven years’ relat- book called By Invitation Only: ed experience; supervisory skills How We Built Gilt and Changed SALARY $90,000-$95,000 the Way Millions Shop. Here are RECRUITER Internal excerpts from a recent DOWNSIDE Working nights and conversation: weekends as needed Your book puts an enormous UPSIDE Assisting community emphasis on the importance of members in finding employment relationships in building a BNA’s staffing program services company—in particular, having a are provided to adult job seekers, “personal board of directors.” dislocated workers, youths, pub- Who are they, and how did you lic-assistance recipients, work- choose them? force development professionals Maybank and the business community. : You want to find people who will be honest with —SUZANNE PANARA you about your weaknesses, and introduce you to people who can EXECUTIVE MOVES help you fill the holes. STRING THEORY: Wilkis Wilson: Early on, one Sarah Charness and Popdust: Hugh Panero, her distinctive pink member of our informal board, 56, joined the online violin. Sheila Marcelo [founder and music platform as chief executive of Care.com], chief executive. He introduced us to a great exec- was previously a buck ennis utive coach, Barry Carden, who venture partner at really took a leap of faith to work New Enterprise GOTHAM GIGS Associates. with us, since he usually works W Group: Maureen Barry, 39, joined the for Fortune 500 companies. boutique management consulting and Maybank: We couldn’t afford sourcing advisory firm as chief any miscommunications or time- marketing officer. She was previously wasting office politics. We did director of channel sales at Capgemini. Fiddling Around some workshops with Barry Clear Channel Media and Entertainment: Tim Castelli, 44, was promoted to where we all practiced having president of national sales, marketing Playing When Sarah Charness heard her first electric violin at band camp, hard conversations about what and partnerships. He was previously she was hooked. Now, a decade later, she commands audiences we needed from each other. That executive vice president of digital sales. really allowed us to trust each Operative: François DeCourtivron, 52, the around the country as one of just a handful of such musicians. ¶ “It other enough to do a flat-out joined the advertising business was a turning point,” said the 26-year-old Boston native. “I knew I sprint for the next year and a half. management solutions company as chief electric financial officer. He was previously chief couldn’t succeed in the classical world as a soloist, and I didn’t Wilkis Wilson: Now we have over operating officer at Incentone Inc. violin is want to do orchestra.” ¶ Ms. Charness plays primarily pop and 1,000 employees, but the ESPN: Chris Brush, 44, house music on her bright pink, V-shaped instrument at sports culture of openness and honesty was promoted to is still there. senior vice president, her ‘drug events, fashion shows and clubs. Performing at Madison Square affiliate sales and Garden, she says, tops her list because the large crowd empowers It’s clear from the book that the marketing. He was of choice’ her. She plays there a few times a year at Knicks games. ¶ In most crucial relationship at Gilt previously vice Groupe is your friendship. Did president of addition to her solo work, she rocks out with a DJ, Surge, and a marketing. you have any reservations when Hospital for Special Surgery: Dr. Gregory nine-member band, Pants Velour. Ms. Charness and Surge will you started? Saboeiro, 50, was promoted to chief of release their first single later this year, and Pants Velour—which Maybank: We’ve been careful the interventional radiology and she describes as a combination of Beastie Boys and Black Eyed not to “businessify” our friend- ultrasound division. He was previously Peas—will be among the bands representing Manhattan at Battle ship. We spend time together chief of interventional radiology and away from work. … The relation- computed tomography. of the Boroughs this spring. ¶ On the side, she teaches fiddle Dr. Eric Bogner, 38, was promoted to ship came first, and it has to take chief of the computed tomography classes at the Kaufman Center’s Lucy Moses School. Playing the priority sometimes over what- See EXECUTIVE MOVES on Page 22 instrument is “my drug of choice,” she said. —emily laermer ever’s going on at the company. April 30, 2012 | Crain’s New York Business | 21 20120430-NEWS--0022-NAT-CCI-CN_-- 4/27/2012 12:17 PM Page 1 Joel Laffer, 31, joined as vice president of Berdon: Jennifer L. Prosperino, 41, joined CORPORATE LADDER EXECUTIVE MOVES marketing. He was previously vice the CPA and advisory firm as principal. president of marketing at Yodle. She was previously a partner at Joel THE ART OF MANAGEMENT Continued from Page 21 Matthew Mahoney, 39, joined as vice Isaacson & Co. division. He was previously associate president of business development. He is Sills Cummis & Gross: John T.Gallagher, JERRY INZERILLO, 58, was named president and chief executive of IMG Artists, attending radiologist. the founder of the Daily Endeavor 53, joined the law firm as a member in the a performing artist and lifestyle events management company. In Rapid Ratings: Sandy Gray, 52, joined website. intellectual-property practice group. He was these roles, Mr. Inzerillo will lead an aggressive strategy to expand the ratings, research and analytics firm The Private Client Reserve of U.S. Bank: previously a partner at Dickstein Shapiro. the company’s activities and visibility, and further energize and as senior vice president and head of sales Rina Chiara,44, Michael R. Leighton, 57, joined as a member in the real estate practice group. excite the worldwide audience for the performing arts operations and development. She was joined as wealth , previously executive director for IDG. management adviser. He was previously a co-chair of the real including music, dance and theater. North 6th Agency: Bill McCue, 48, was She was previously estate department at Cole Schotz Meisel Most recently, he served as president of the promoted to vice president at the brand senior director at BNY Forman & Leonard. Kerzner Entertainment Group, where he communications agency. He was Mellon. Paul M. Sayegh, 40, joined as a member in conceptualized and produced more than 900 previously account director. Talking Talent Inc.: the corporate practice group. He was major events globally. Mr. Inzerillo received a B.S. GramercyOne: Tracey Kaufman, 47, Karen Donaldson,43, previously a partner at LeClairRyan. Jonathan Young, 54, joined as a member in in hotel administration at the University of Nevada, joined the cloud-based tools provider as was promoted to vice vice president of customer experience. president, North America, at the the litigation practice group. He was Las Vegas. —CALLIE EIDLER She was previously vice president of consulting company. She was previously previously senior vice president and chief customer experience at Cloud9. associate director. claims officer at Harleysville Insurance. Klestadt & Winters: Joseph C. Corneau, 34, was promoted to partner at the law firm. He was previously an associate. Brendan M. Scott, 36, was promoted to partner. He was previously an associate. Perella Weinberg Partners: Charles G. Ward III, 59, joined the financial services firm as a partner in its advisory business. He was previously president of Lazard Ltd. and chairman of its asset management group. U.S. Department of Justice: Kathyrn Keneally, 53, joined as assistant attorney general for the tax division. She was previously a partner at Fulbright & Jaworski. St. Ann’s Warehouse: Andrew D. Hamingson, 49, joined the theater organization as executive director. He was previously a principal at A.D. Hamingson & Associates. Newmark Grubb Knight Frank: Ross Kaplan, 38, was promoted to senior managing director at the real estate services firm. He was previously managing director. Benjamin S. Birnbaum, 26, was promoted to managing director. He was previously a director. Trever Gallina, 35, was promoted to director. He had been associate director. Kate Cohen, 26, was promoted to associate director. She was previously an associate. Hymie M. Dweck, 29, was promoted to associate director. He was previously an associate. Rose Associates Inc.: Jennifer D. Cline, 38, was promoted to managing director at the real estate development firm. She was previously a director. Rafa Maciejak, 42, joined as manager of residential sales. He had been a senior associate broker at Corcoran Group. Robert Werner, 46, was promoted to managing director. He was previously a portfolio director. UHY Advisors NY Inc.: Michael Burke, 40, joined the financial, tax and business consulting services provider as a managing director and partner at UHY. You want a financial ally with a powerful grasp of the national and international marketplace. With Union Bank®, you’ll have the He was previously an audit partner at expertise and solutions you need to expand your business on a global scale. Our relationship managers can help you streamline BDO USA. operations with everything from global treasury management solutions to foreign exchange. And through our relationship with Joseph Falanga, 60, joined as managing director and a partner at UHY. He was Mitsubishi UFJ Financial Group, you’ll have access to local experts in over 40 countries. That’s the definition of a strong global partner. previously senior managing director, private client tax and advisory services group, at FTI Consulting. With Union Bank, the world can be an easy place to do business. Call us today. Sharon Goodman, 59, joined as managing director. She had been senior director, Corporate & Institutional Treasury Services: Fund Finance: Commercial Finance: private client tax and advisory services Marla Feldman Terence Hatton Richard K. Stang group, at FTI Consulting. Vice President Senior Vice President Senior Vice President GreenbergFarrow: Brian T. Ahern,44, 914-273-0351 646-452-2113 646-452-2522 joined the architecture, engineering and development services firm as residential studio director in the New York office. He had been president of Obelisk Architectural Consultants. —callie eidler ©2012 Union Bank, N.A. All rights reserved. EXECUTIVE PROMOTIONS Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial organizations. Financing subject to credit The fastest way to get an announcement into and collateral approval. unionbank.com Crain’s is to submit online. Fill out the form at www.crainsnewyork.com/section/ executive_moves. The Executive Moves column is also available online. 22 | Crain’s New York Business | April 30, 2012 20120430-NEWS--0023-NAT-CCI-CN_-- 4/27/2012 12:14 PM Page 1 chemex / INSATIABLE CRITIC call (212) 473-7875 or email flickr.com Gael Greene THE [email protected]. THURSDAY, MAY 10 The National Association of Women WEEK Business Owners will host a NAWBO- NYC NETWORKING BREAKFAST. Attendees Clyde’s: More can develop new relationships, grow their network and expand their circle of AHEAD influence. Amy Salo, vice president of Wealth Advisory Group, will host. The MAY 7-13 breakfast will be held at Wealth than just flash Advisory Group, 355 Lexington Ave., ninth floor, from 7:45 a.m. to 9:30 a.m. CONFERENCES The event is $10 for NAWBO-NYC Ex-Knick star’s eatery AND SEMINARS members and $35 for nonmembers. newscom MONDAY, MAY 7, To register, visit www.nawbonyc.org/ flaunts his finery AND TUESDAY, MAY 8 events/networking-breakfast. WHAT THEY’RE Cadwalader Wickersham & Taft will and comfort menu host SECURITIES COMPLIANCE CULTURAL EVENTS READING EDUCATION. The National Society of WEDNESDAY, MAY 9, TO SUNDAY, MAY 13 riving up 10th Av- Compliance Professionals’ 2012 New Encores! presents GENTLEMEN PREFER WHEN HE’S NOT TRYING to get a BLONDES enue in the 30s, I’m York Regional Meeting and Labs will . Based on the novel by Anita $2 billion tech campus built on discuss practical implementation of Loos, the show follows the adventures of anxious. Then, im- Roosevelt Island, Cornell possible to miss, compliance policies and procedures. Lorelei Lee, the original “dumb blonde,” The conference will run from 8:30 a.m. played by Megan Hilty, and Dorothy University President David there is Walt Frazier buck ennis to 5 p.m. on both days. CLE, CFP and Shaw, played by Rachel York, as they set Skorton (above) finds time for times 25 in a staccato of bigger- DELICACY: Gingered seafood dumplings D SRO credits, as well as ethics credits, sail for Europe.The performances are his Robert Parker fix. He’s than-life panels. The name on the are generally available. NSCP members May 9 at 7:30 p.m., May 10 and May 11 devoured the author’s novels door—Clyde Frazier’s Wine and receive a discount, and nonmembers are at 8 p.m., May 12 at 2 p.m. and 8 p.m., about the private detective Dine—tickles me, too. Wine and CLYDE FRAZIER’S welcome to attend. The conference will and May 13 at 2 p.m. and 7 p.m. at New Spenser and was most recently dine, not beer and burp. WINE AND DINE be held at 1 World Financial Center. York City Center, West 55th Street We enter a deserted lounge.Well, 485 10th Ave. For more information, including ticket between Sixth and Seventh avenues. reading Sixkill, the last completed it opened only 10 days ago. On our (212) 842-1110 costs, visit www.nscpmeetings.com. Tickets start at $25 and can be before Mr. Parker died. www.arkrestaurants.com/clydes.html purchased at the New York City Center Mr. Skorton, who is partnering right,two young couples go one-on- WEDNESDAY, MAY 9 one in the enclosed half basketball box office, online at www.nycitycenter.org on the campus with Technion- Join the B’nai B’rith Real Estate Unit or through CityTix at (212) 581-1212. court. More blow-ups of the Knicks Israel Institute of Technology, is for lunch with Seth Pinsky, president, also reading Simon Sebag legend loom on fat columns.See him CUISINE American eclectic New York City Economic Develop- THURSDAY, MAY 10 dapper in pinstripes, cheetah spots ment Corp., discussing CORNELL/ Join WFUV Radio (90.7 FM) for its Montefiore’s Jerusalem: The and exaggerated plaids. Wooden PRICE RANGE Entrées $18 TECHNION AND MORE. Mr. Pinsky has FIFTH ANNUAL SPRING GALA. The event Biography, which looks at 3,000 cutouts with images of his favorite to $45 helped negotiate the city’s involvement will honor Chris Isaak, Christiane years of the city’s history. suits hang from the ceiling. SERVING Lunch, dinner in development projects, including Amanpour, Al Michaels and Michael Meanwhile, his counterpart at The man’s obsessions are cap- creation of the 2 million-square-foot Dorf and will be held at Gotham Hall, Technion, Peretz Lavie, reads RESERVATIONS Wouldn’t hurt tured in 10,000 square feet by applied science and engineering 1356 Broadway, starting at 6 p.m. about five books each time he NOISE LEVEL Reasonable in campus on Roosevelt Island with Tickets start at $1,000, and tables start Pritzker award-winning architect Cornell University and the Technion- at $10,000. For information and or to travels to the U.S., alternating Thom Mayne from Morphosis (a dining room Israel Institute of Technology.The purchase tickets, visit www.wfuv.org, between English and Hebrew. On Knicks fan, it turns out). That’s the I can’t wait to return. discussion will run from 12 p.m. to 2 email [email protected] or call a recent trip, he was reading a Knicks game, live, on a blaze of 56 p.m. at the Cornell Club, 6 E. 44th St. (212) 930-8898. memoir by Edmund De Waal, The flat screens over the bar and kitchen. I will definitely go back. Tickets are $70 if purchased by Friday, —callie eidler Hare With Amber Eyes: A Hidden Can mere food possibly compete? I’ll let them simmer awhile. May 4, and $80 if purchased after. For Inheritance. more information and to RSVP,call To view Crain’s classified events listings, I recognize the defunct Chan- NO HATS Never again. go to www.crainsnewyork.com/events —DANIEL MASSEY terelle’s chef-owner, David Wal- Aracelis Kuilan at (212) 885-7239 or tuck. This is his first splash as Ark email [email protected]. Corp.’s executive chef. Expectations almost raw—it comes naked on the THURSDAY, MAY 10 are high. plate, as do all entrées. But sides are Come join sponsors including It’s not easy to order. Start with just $6 and include irresistibles like Powerteam International, Federal PICK OF THE WEEK snacks:We want them all.Waltuck’s potato latkes, sweet potato fries, Express, Zoho and more for the SMALL menu is a hit parade of everything roasted asparagus and braised BUSINESS EXPO 2012 in New York City. LITTLE FLOWER Americans like. Red stars signify romaine. At the expo, professionals can learn CHILDREN and Clyde’s favorites. Wasabi, pickled My pasta-loving guy is happier about products and services for their ginger and mirin do not bother me with the very good penne and its spicy businesses, network with other industry Family Services of professionals, and attend informative at all in Waltuck’s spin on gua- tomato-tinged seafood than with the workshops and seminars.The expo is for ELI New York will honor camole. Could it be because I’m so scary cheese-filled meatball in his those 18 years and older and will take MANNING Robert B. Campbell, taken with the heaped-high fried spaghetti. The “classic macaroni and place at Penn Plaza Pavilion, 401 at last year’s lotus crisps? cheese” is strangely uncheesy, Seventh Ave., from 10 a.m. to 5 p.m. humanitarian founder and chief Curried onion fritters are deli- crumbed but not crusty. Fine black The expo is free for those who award dinner. executive of footwear cious and addictive.I’m still dipping bean chili arrives surrounded with a preregister before May 8.There is a $10 company BBC them in spicy tamarind sauce long trio of garnishes, crème fraîche, grat- on-site registration fee for those who do after the fritters have cooled.I’m less ed cheese and fresh salsa and could be not preregister.To register, visit International, at the moved by the crisp fried potato supper for me. www.thesmallbusinessexpo.com. Monsignor John T. knish with sweet and spicy mustard A 10-ounce burger with cheddar NETWORKING RECEPTIONS Fagan humanitarian and crème fraîche. But what do I and bacon is the winner tonight. WEDNESDAY, MAY 9 award dinner know, I’m from Detroit. This Disneyland for hoops fans is The Manhattan Chamber of Commerce , a Waltuck’s fondness for Chinese not just sexy and fun. You can also and Microsoft will host a Microsoft fundraiser to benefit cooking shows in the delicacy of his eat well.Most of what I tasted in two networking event: THE POWER OF Little Flower’s gingered seafood dumplings. The visits was good or very good. SEARCH ENGINE MARKETING: HOW TO torrid chicken wings have a Chinese The Knicks win, and our guys go DOMINATE SEARCH ENGINE RESULTS, programs that barbecue edge, too, in a hefty pileup off to shoot baskets. They return for which will include speakers Mark Zaks support children, and John Carcutt from Advance Digital. rich rob that could feed the starters and the a taste of the apple tart with lavender Attendees will learn how harnessing the families and the bench, too. ice cream and blueberry sauce. Ark power of paid and organic search can developmentally disabled. The event will start at 7 p.m. at Chopped duck liver with crack- boss Michael Weinstein is at the next help a business dominate search-engine lings and onion crisps with toast tri- table 10 days later, on my second vis- results pages.The event will take place at Guastavino’s, 409 E. 59th St. Tickets range from $350 to angles are upscale snacking. Only it.“I try to stop by every evening,” he Microsoft, 1290 Sixth Ave., from 5:30 $600. For information, visit www.littleflowerny.org/events or the pork belly buns and panzanella says. “And Clyde is here every night p.m. to 8 p.m.The event is free for salad disappoint. he’s in town.” Frazier discovered eat- chamber members and $15 for call (718) 875-3500, ext. 5040, or email [email protected]. Caesar salad is more than ample ing healthy and yoga long ago.That’s nonmembers. For more information, and nicely amped with anchovy. why all his suits still fit. Spit-roasted chicken is too cooked, MON. TUES. WED. THURS. FRI. SAT. SUN. but full of flavor.Like the blackened Copyright © 2012 by Gael Greene. 5.7 5.8 5.9 5.10 5.11 5.12 5.13 salmon—unpleasantly spiced and Syndicated by www.insatiable-critic.com. April 30, 2012 | Crain’s New York Business | 23 emirates.com/usa Consider it a vacation with meetings at the end ;OPZPZTVYL[OHUHÅPNO[PU)\ZPULZZ*SHZZ0[»ZHZLHTSLZZL_WLYPLUJL[OH[PUJS\KLZ L]LY`[OPUN`V\ULLK[VIL`V\YILZ[-YVTJVTWSPTLU[HY`*OH\MML\YKYP]LZLY]PJL HUKL_WLKP[LKJOLJRPUZ[VT\S[PJV\YZLNV\YTL[TLHSZHUKJOHUULSZVM LU[LY[HPUTLU[`V\»YLMYLL[VMVJ\ZVU^OH[TH[[LYZTVZ[·`V\ Hello Tomorrow (]HPSHISLPUZLSLJ[JP[PLZ6]LYPU[LYUH[PVUHSH^HYKZHUKV]LY KLZ[PUH[PVUZ^VYSK^PKL+PZJV]LYMYLX\LU[Å`LYILULÄ[ZH[ZR`^HYKZJVT