20100621-NEWS--0001-NAT-CCI-CN_-- 6/18/2010 8:02 PM Page 1 INSIDE REPORT TOP STORIES FORTUNATE 100 Hot new career Firms yield on boss switcheroo: pay; investors target generous directors health coach ® PAGE 2 PAGE 15 Big Apple Greeters gets cold reception VOL. XXVI, NO. 25 WWW.CRAINSNEWYORK.COM JUNE 21-27, 2010 PRICE: $3.00 PAGE 2 Subway woes drag NYU’s first on ... and on ... for Second Ave. shops Abu Dhabi PAGE 3 Signs of life, finally, class rivals in mortgage-backed securities market the Ivies PAGE 4 Elite crop may validate Like those Sexton’s Arab plan, and Bryant quiet president’s critics Park tulips? BY MIRIAM KREININ SOUCCAR You can new york university’s controversial buy them campus in Abu Dhabi will open in Sep- NEW YORK, NEW YORK, P. 6 tember with an inaugural class of stu- dents rivaling those of the Ivy League. The university accepted 189 stu- dents out of 9,048 applicants, and 150 from 39 countries have committed to attend, NYU will announce on Mon- day.That yield of 79.4%—a data point that’s monitored closely by colleges—is slightly better than Harvard Universi- See NYU on Page 24 BUSINESS LIVES Media GOTHAM GIGS moguls top Merchantdirector has seen it all before P. 25 G ANNE FISHER salary list on cocotos tom starting a business at fiftysomething P. 25 Edge out Wall Street G MOVERS & SHAKERS Edie Falco says her new bosses at the trough, drug is ice cream P. 26 despite dismal market G GAEL GREENE on Bar LEBRON-ONOMICS Artisanal’s rebirth P. 27 BY AARON ELSTEIN Contract with star would boost Garden’s after years of domination by Wall INDEX Street, Crain’s Fortunate 100 ranking of revenue and stock price. Will he jump? the city’s best-paid executives has a sur- THE INSIDER _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 prising new set of leaders.Media-related NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _9 Garden’s New York Knicks,the company’s stock has executives took the top four slots in 2009. BY MATTHEW FLAMM VIEWPOINT _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _10 jumped.In May,when the Cavaliers lost in the play- Predictably,their rise was made pos- REAL ESTATE DEALS PLUS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _12 offs, possibly lowering the chances that Mr. James sible in part by Wall Street’s calamitous every publicly traded company has a growth would stay in Cleveland, shares spiked 12%. year, but what is surprising is that so SMALL BUSINESS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _14 strategy, and Madison Square Garden Inc., which Analysts expect that any improvements to the many media executives did so awfully CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _20 became its own company earlier this year, has sever- hapless Knicks’ roster will increase the flow of dol- well despite dismal conditions in their FOR THE RECORD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _22 al. The strategy with the most promise even has a lars that follow from higher ratings on the MSG ca- own businesses. EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _25 name. It’s called LeBron James. ble television network and more enthusiastic crowds In fact, that seeming contradiction THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _27 With every suggestion that the Cleveland Cav- at the Garden. But a contract with Mr. James, who has caused more than raised eyebrows. aliers forward might sign with Madison Square See LEBRON-ONOMICS on Page 24 See MEDIA MOGULS on Page 24 25 5 NEXT WEEK TH ANNIVERSARY ISSUE We asked. You answered. Crain’s readers offer 25 big 25 people who’ll be shaping the city’s recovery ELECTRONIC EDITION ideas to make New York City better, smarter, stronger, Why New York can’t shake its Wall Street addiction NEWSPAPER 2 wealthier and just maybe a little friendlier. Plus: Alair Townsend’s inductees in our first Hall of Fame 71486 01068 5 0 20100621-NEWS--0002,0003-NAT-CCI-CN_-- 6/18/2010 8:01 PM Page 1 IN BRIEF ONLY SIX INDUSTRIES IN NEW YORK CITY HAVE POSTED JOB LOSSES SO FAR THIS YEAR, AS Health coaches the city rebounds rapidly from the recession, according to an analysis of state Department of Labor data by real estate services firm Eastern Career switchers find Consolidated.Telecommunications led the way, gigs rewarding, though with 1,500 losses.The other industries to shed jobs were apparel manufacturing, securities, not always financially advertising, local government and publishing. Overall, the city has added 79,200 jobs this year, including 58,800 in the private sector, BY LISA FICKENSCHER erasing nearly one-half of the estimated 173,000 that were lost in the downturn. julia haramis was already stressed out from working increasingly long hours. But THE TWO MOST IMPORTANT TONY AWARD when her paycheck was slashed, the vice WINNERS—MEMPHIS (WHICH WON BEST president at a large investment-manage- musical) and La Cage Aux Folles (best musical ment company in New York had had revival)—have seen big boosts in ticket sales as enough. a result. A spokeswoman for Memphis said A year ago,when most people feared for ticket sales for the show have increased a their jobs, she quit hers and enrolled in the whopping 300% in less than one week, Institute for Integrative Nutrition to be- although she wouldn’t disclose a dollar amount. come a health coach. La Cage sold more than $250,000 worth of The decision was not a rash one. The tickets the day after winning the Tony, more Brooklyn Heights resident had already than twice the usual daily figure. Although the embraced a healthier lifestyle, teaching box-office bumps are appreciated, theater yoga on the weekends.Now,Ms.Haramis, insiders caution that they usually don’t last. “A 31, is offering advice to people who are liv- show doing middling numbers isn’t going to all ing the life she rejected for herself. of a sudden join the million-dollar-a-week “I have a lot of clients who have stress- club,” says Ken Davenport, a producer. ful corporate jobs, and they believe that I can understand their situation because I THE BLUESTONE GROUP IS CLOSE TO BUYING was there,” she says. THE DEBT ON SIX TROUBLED SOUTH BRONX residential buildings owned by Sam Suzuki, Great timing who was ordered to prison last week for failing ms.haramis is among a growing group of to make necessary repairs at one of his six career-switchers who are choosing health- buildings.The outstanding debt on the five related jobs. Their timing couldn’t be bet- loans, secured by the six buildings, is $13.15 ter. There is an unprecedented focus on million, according to The Dime Savings Bank. food these days—both at a local level and The borrower was current on loan payments nationally—from Mayor Michael Bloom- until September.The debt has been on the berg’s obsession with getting New Yorkers levinekarjean market for four to six weeks, a Dime spokesman to eat right, to first lady Michelle Obama’s said, receiving a lot of interest. anti-obesity campaign. Even popular tele- people are seeking professional help to rein Enrollment at schools that offer nutri- vision shows like The Biggest Loser and in their diets. tion training—such as IIN of Manhattan, celebrity-chef-hosted Jamie Oliver’s Food The demand is creating a cottage in- where Ms. Haramis received her certifi- BY THE NUMBERS Revolution shine a spotlight on the impor- dustry where practitioners can charge as cate—has exploded as ex-bankers and oth- tance of good nutrition. As a result, more much as $250 an hour. er professionals make the leap.Enrollment Weekly shift of the city’s economy SUMMER ARRIVES this week, but the economy seems to be cooling. A surprise rise in jobless benefits claims and a weak manufacturing Since then,it has grown to a network of report are examples. 300 volunteers who have welcomed more Big Apple Greeter than 88,000 visitors from all 50 states and 124 countries.