No easy fix for local news —Valerie Block on WNBC’s 7 p.m. newscast Page 13 BY ELISABETH BUTLER CORDOVA after selling Mother’s Day bouquets and Valentine ros- es to Upper West Siders for more than 80 years, Embassy Florists moved to New Jersey in July. The gold lettering on the glass door is all that remains of the family-owned busi- ness at its old Broadway and West 91st Street address. Embassy is one of some 20 stores that have shut down on Broadway between West 72nd and West 93rd streets in CHANGING NEIGHBORHOOD Stores priced out on Upper W. Side Postseason revenues loom large BY AARON ELSTEIN let the profits roll. In squeak- ing into the playoffs last week, the Yankees did more than add anoth- er hard-won entry to their long list of accomplishments. They saved owner George Steinbrenner’s ba- con. Sadly, perhaps, the Mets have never faced that kind of pressure. “In the model the Yankees have developed, they have to make the World Series to make money,”says Wayne McDonnell, a former Madison Square Garden financial executive who is now a professor of sports management at New York University. “The Mets aren’t in that predicament.” October baseball is great for both fans and owners. For the likes of Mr. Steinbrenner and the Mets’ Fred Wilpon, it looms as a chance to make big money in just a few games. Owners mint cash as ticket prices soar higher with each round and fans rush to show their loyalty by forking over hefty sums to buy their official playoff and World Se- ries caps and jackets. For big-city teams like the Yan- kees and Mets, the added revenue collected on the postseason road to the World Series can easily top $40 million, Mr. McDonnell says. Though ticket receipts and merchandise revenues must be shared with players and other teams, the proceeds from $8 cups of beer and $5 hot dogs belong solely to the clubs. For both the Yankees and Mets,a trip to the Fall Classic is worth a cool $18 million in pure profit, according to J.C. Bradbury, a sports economist at Kennesaw State University in Georgia. “At the very least, $18 million covers the price of a good starting BY TOM FREDRICKSON new york city’s building boom has created so many jobs that unions are reaching out across the country, pulling in as many as 1,000 temporary workers to sup- plement the city’s construction workforce. New York is a magnet for union plumbers, steamfitters, tilers, lath- ers and other construction workers invited here by New York union lo- cals when they are at full employ- ment.These “travelers” are helping to build the $2.5 billion Goldman Sachs headquarters rising in Bat- tery Park City and installing mar- ble tiles in new luxury condos all Unions bringing in out-of-town muscle Bank believes its union ties are key to future growth PAGE 2 Bollywood grows in NY as Indian media firms multiply PAGE 3 Café Gray kills catering biz after only seven months NEW YORK, NEW YORK, P. 6 Hotel execs may abandon Javits expansion plan INSIDER, PAGE 14 6 last-minute Columbus weekend getaways BUSINESS LIVES, PAGE 59 ENROLLMENT DROPPED 20% FOR A MORTGAGE broker training course that began Friday at the New York Real Estate Institute. The school’s president, Richard Levine, blames layoffs in the mortgage industry for the enrollment decline, noting there hasn’t been a falloff in students for other types of classes, such as property management and real estate brokerage. EAST MIDTOWN BUSINESSES SUFFERED through snarled traffic and limited street access for some deliveries, thanks to the General Assembly meeting at the United Nations—but they TOP STORIES AT DEADLINE See PRICED OUT on Page 10 See POSTSEASON on Page 7 See UNIONS on Page 8 Big paychecks draw workers; critics want more apprentices Yankees need them to turn a profit, while benefit to Mets is long-term See AT DEADLINE on Page 2 VOL. XXIII, NO. 40 WWW.NEWYORKBUSINESS.COM OCTOBER 1-7, 2007 PRICE: $3.00 NEWSPAPER ® Mom-and-pop shops move, shut down as rents soar; landlords woo national chains buck ennis IRA GOLLER, owner of Murray’s Sturgeon Shop on Broadway, says independents are leaving the area left and right. COMING NEXT WEEK Small businesses confront the credit crisis: a look at ALTERNATIVE FORMS OF FINANCING. Also, Hits & Misses, and how to fire a client. SPECIAL SECTION 100 MOST INFLUENTIAL WOMEN IN NYC BUSINESS PAGES W1-W32 bekka lindström ELECTRONIC EDITION
Transcript
No easy fix forlocalnews—Valerie Blockon WNBC’s7 p.m. newscastPage 13
BY ELISABETH BUTLER CORDOVA
after selling Mother’s Day bouquets and Valentine ros-es to Upper West Siders for more than 80 years, EmbassyFlorists moved to New Jersey in July.The gold lettering onthe glass door is all that remains of the family-owned busi-ness at its old Broadway and West 91st Street address.
Embassy is one of some 20 stores that have shut downon Broadway between West 72nd and West 93rd streets in
CHANGING NEIGHBORHOOD
Stores priced outonUpper W. Side
Postseason revenuesloom large
BY AARON ELSTEIN
let the profits roll. In squeak-ing into the playoffs last week, theYankees did more than add anoth-er hard-won entry to their long listof accomplishments. They savedowner George Steinbrenner’s ba-con. Sadly, perhaps, the Mets havenever faced that kind of pressure.
“In the model the Yankees havedeveloped, they have to make theWorld Series to make money,” saysWayne McDonnell, a formerMadison Square Garden financialexecutive who is now a professor ofsports management at New YorkUniversity. “The Mets aren’t inthat predicament.”
October baseball is great forboth fans and owners. For the likes
of Mr. Steinbrenner and the Mets’Fred Wilpon, it looms as a chanceto make big money in just a fewgames. Owners mint cash as ticketprices soar higher with each roundand fans rush to show their loyaltyby forking over hefty sums to buytheir official playoff and World Se-ries caps and jackets.
For big-city teams like the Yan-kees and Mets, the added revenuecollected on the postseason road tothe World Series can easily top $40million, Mr. McDonnell says.
Though ticket receipts andmerchandise revenues must beshared with players and otherteams, the proceeds from $8 cupsof beer and $5 hot dogs belongsolely to the clubs. For both theYankees and Mets,a trip to the FallClassic is worth a cool $18 millionin pure profit, according to J.C.Bradbury, a sports economist atKennesaw State University inGeorgia.
“At the very least, $18 millioncovers the price of a good starting
BY TOM FREDRICKSON
new york city’s building boomhas created so many jobs thatunions are reaching out across thecountry, pulling in as many as1,000 temporary workers to sup-plement the city’s constructionworkforce.
New York is a magnet for unionplumbers, steamfitters, tilers, lath-ers and other construction workersinvited here by New York union lo-cals when they are at full employ-ment.These “travelers” are helpingto build the $2.5 billion Goldman
Sachs headquarters rising in Bat-tery Park City and installing mar-ble tiles in new luxury condos all
Unions bringing in out-of-town muscle
Bank believes itsunion ties are keyto future growthPAGE 2
Bollywood grows inNY as Indian mediafirms multiplyPAGE 3
Café Gray killscatering biz afteronly seven monthsNEW YORK, NEW YORK, P. 6
Hotel execs mayabandon Javitsexpansion planINSIDER, PAGE 14
ENROLLMENT DROPPED 20%FOR A MORTGAGE brokertraining course that beganFriday at the New York RealEstate Institute.The school’spresident, Richard Levine,blames layoffs in themortgage industry for theenrollment decline, notingthere hasn’t been a falloff instudents for other types ofclasses, such as propertymanagement and real estatebrokerage.
EAST MIDTOWN BUSINESSESSUFFERED through snarledtraffic and limited streetaccess for some deliveries,thanks to the GeneralAssembly meeting at theUnited Nations—but they
TOP STORIES
AT DEADLINE
See PRICED OUT on Page 10
See POSTSEASON on Page 7
See UNIONS on Page 8
Big paychecks draw workers; critics wantmore apprentices
Yankees need themto turn a profit,while benefit toMets is long-term
See AT DEADLINE on Page 2
VOL. XXIII, NO. 40 WWW.NEWYORKBUSINESS.COM OCTOBER 1-7, 2007 PRICE: $3.00
07148601068
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Mom-and-pop shops move, shut down as rents soar;
landlords woo national chains
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IRA GOLLER, ownerof Murray’s SturgeonShop on Broadway,says independentsare leaving the area
left and right.
COMINGNEXT WEEKSmall businesses confront the creditcrisis: a look at AALLTTEERRNNAATTIIVVEE FFOORRMMSS OOFFFFIINNAANNCCIINNGG.. Also, Hits & Misses, andhow to fire a client.
SPECIAL SECTION100 MOST INFLUENTIALWOMEN IN NYCBUSINESSPAGES W1-W32
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ELECTRONIC EDITION
nb40p01.qxp 9/28/2007 8:42 PM Page 1
BY TOM FREDRICKSON
amalgamated bank, founded 84 years ago by the Amalgamated Clothing Workers, hasalways stuck to its knitting, serving unions and union members.
And it has served them well. In 1924, it became the first bank to issue unsecured credit toworking people, who generally didn’t own homes to put up as collateral. In 1973, it became thefirst bank in New York City to offer totally free checking.
But Amalgamated has not fully capitalized on its union ties, something its owner, the union,now known as Unite Here, means to change.
Derrick Cephas, a no-nonsense attorney and former regulator who was hired as chiefexecutive last year, is trying to revamp the bank.
Mr. Cephas intends to open 18 new branches over the next two years, many of them in areaswith high concentrations of Unite Here members. He also wants to increase union pension
also enjoyed a business boomfrom the flood of foreigndignitaries. Area hotels werefully booked at premium rates.The Library Hotel at MadisonAvenue and East 41st Streetincreased its daily rates by up to$50. Restaurants also saw ahealthy increase in business. AtAretsky’s Patroon, on East 46thStreet between Lexington andThird avenues, business easilyjumped 15% as a result of themeeting, says General ManagerAndrew Kleinman. “We’ve hada tremendously busy week,” henotes.The General Assemblycontinues this week.
MACY’S INC. WILL DISTRIBUTELUSH COSMETICS’ natural beautyproducts, sources say.The deal,which is expected to beannounced this week, will be thefirst partnership of its kind forPoole, England-based Lush,which has been rapidly openingstores around the globe. Lushoperates five stores in New YorkCity, including its recentlyrenovated Herald Squarelocation.
JUST FIVE DAYS BEFORE THELAUNCH OF THE FOX BUSINESSNetwork, CNBC will debut anew “after-hours” programlineup on Oct. 10.The NBCUniversal cable channel willmove Fast Money to 5 p.m. from8 p.m. and will air the show live.Kudlow & Company, a politicsand business show that couldgain a higher profile during the
presidential campaign, willmove to 7 p.m. from 5 p.m.—displacing On the Money, whichwill go on hiatus. However, aCNBC spokesman says therevamp “doesn’t have anythingto do with any challengers. Ithas to do with what’s best for[our] audience.”
SPRINT AND T-MOBILE SAID LASTWEEK THAT THEY are interested inworking with Transit Wireless,the company that won the rightto build a cell phone network inthe city’s 277 subway stations.Transit Wireless will have twoyears to install a network in sixstations. It needs to partner withat least one major wirelesscarrier before it can turn on cellphone service in those stations.
A $2 MILLION AD CAMPAIGNPROMOTING the Nov. 2 INGNew York City Marathon andthe Nov. 1 men’s marathonOlympic trial kicks off this weekon buses and subways and inmajor publications.The adsdepict the Olympic torch andthe Statue of Liberty torch withcommingled flames.
MILLENNIUM PARTNERS SPENTSEVERAL MILLION DOLLARS toconvert its extended-stayproperty, at 1965 Broadway, to afractional apartment property,its second in Manhattan.The 88new apartments are adjacent toMillennium’s Phillips Club, at155 W. 66th St., and are sellingfor between $190,000 and$380,000. �
BY TOM FREDRICKSON
manhattan-based Consumer-Powerline, an energy managementfirm,has raised $17 million in venturecapital to add products and services,at least double its workforce of 30,andexpand into new geographic areas.
Founded in 2000, Consumer-Powerline provides “demand re-
sponse,” helping large energy userssuch as Kmart and Sears manage en-ergy use during periods of peak de-mand. Utilities, including Consoli-dated Edison, pay customers if theycommit to reducing consumption atthose times.
ConsumerPowerline,with more than $10 millionin annual revenues, is thethird-largest demand-re-sponse company in thecountry. It operates in mostof the nation, with clientsconcentrated in New York, NewEngland and California.
The company intends to use partof its first round of funding to get
into a new business: providing ener-gy audits and efficiency upgrades tolarge energy consumers. State gov-ernments are expected to requireutilities and energy marketers tostart offering substantial rebates for
such investments in the faceof growing concerns aboutglobal warming,says compa-ny founder and PresidentMichael Gordon.
The financing round wasled by Expansion CapitalPartners. Investors included
the New York City Investment Fundand Bessemer Venture Partners.
In a story on female partners in the Sept. 24 Accounting Report, a typographical error altereda quote from Joel Cooperman, managing partner at Citrin Cooperman & Co. The correct quoteis, “It told me that in the next 20 years, women would be promoted on equal terms with men, ifwe could get them to stay in.”
2 | Crain’s New York Business | October 1, 2007
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CNYB 10-01-07 regular book 2 9/28/2007 6:44 PM Page 1
BY LISA FICKENSCHER
last month, the tragic death justoff Central Park of a carriage horsenamed Smoothie triggered a waveof public outrage. A City Councilmember is now vowing to introducelegislation that would forever banhorse-drawn buggies from citystreets.
On top of everything else, thepublic scrutiny comes at a timewhen revenues are declining steeply.
Worried that they could followSmoothie to the grave, carriageowners are fighting back.They havehired a publicist and convincedCouncilman James Gennaro, D-Queens, to introduce a bill to givethem their first rate increase in over18 years. In a move aimed in part toundercut criticism from animalrights activists, the owners are ask-ing the city for help in stepping upsafety measures for the horses and incleaning up areas where they standduring the day.
“We are earning less and less,andthis can’t go on,” says Cornelius
Byrne, co-owner of 40-year-oldCentral Park Carriages, whichowned Smoothie.
Driving all these actions is theworst crisis the carriage industry—consisting of 68 licensed buggiesand 293 licensed drivers—has facedin decades. A recent report from thecity comptroller’s office calls fortighter controls on the business.Competition from a new army ofpedicabs, which are far cheaper, is
eating into profits.Carriage owners,a group of 53 mostly Irish families,estimate that their earnings are offabout 30% this year as a result of thepedicabs and a dip in the number ofNew York area suburbanites willingto splurge on buggy rides.
Plaza renovation hurts“fewer day-trippers are cominginto the city,” says Ian McKeever,who owns Shamrock Stables. “We
are missing out on the localpeople.”
On top of everythingelse, the lengthy renova-tion of the Plaza Hotelhas cast a shadowover the indus-try. Fewerpeople, espe-cially in theevening,stroll aroundFifth Avenueand Central ParkSouth, where thecarriages waitfor passen-gers. Instead,Times Squareis siphoningtourists awayfrom CentralPark, say car-riage drivers.
Meanwhile,carriage own-ers’ expenseshave been soar-ing. Prices offeed grain havejumped 38% to$13.80 a bag thisyear alone. A bag ofsawdust used in the horses’ stallssells for $6, more than double the$2.65 price of just two years ago.
Owners find themselves crushed
between rising costs and falling rev-enues—a squeeze made worse bythe city’s rate freeze.
“This should never have hap-
pened, that we were bound to a pricefor 18 years,” says Mr. Byrne.
The industry is pushing to hikethe charge for the first half-hour ofa ride to $44 from $34 currently.Theprice of each additional 15 minutescould rise to as much as $15, from$10 currently. Owners, however,fear that the council won’t act toavoid a fight with animal rightsgroups that want to put the indus-try’s 221 horses out to pasture.
Compromises feared“we have been very effective in ourefforts,” says Elizabeth Forel, presi-dent of the Coalition to Ban Horse-Drawn Carriages. CouncilmanTony Avella, D-Queens, wants todo his bit. He is drafting legislationfor a horse ban.
While few people think that anysuch measure would ever win coun-cil approval, some carriage ownersadmit that they are worried aboutthe costs of a victory on the farefront. In 1989, when the price of thefirst 30 minutes in a carriage wasdoubled to $34, the city forced own-ers to pull their carriages off citystreets during the evening rush forthree hours.
“We fear that our hours could becut back [again],” says ConorMcHugh, who owns four horses.
the real estate board of NewYork last week launched Residen-tialNYC.com, a Web site that letshomebuyers view roughly half theproperties for sale in Manhattan anda smaller amount of those availablein the other boroughs.
Over the next two months, theboard will spend roughly $300,000promoting the site, which con-sumers can search using criteria likeprice and neighborhood. Ads ap-peared on city buses last week andwill start running in local publica-tions on Oct. 3.
The group had hoped to createone-stop shopping for New Yorkhouse seekers, but several large bro-kerages, including the CorcoranGroup, Prudential Douglas Elli-man, and Bond New York Real Es-tate Corp., chose not to participate.They could do so later, however.
Their decisions will be crucial forThe New York Times, which couldlose a significant portion of its lucra-tive residential real estate advertising.
Bellmarc Realty President NeilBinder says he spends “hundreds ofthousands of dollars” a year on ads inthe Times. Moving to REBNY’s sitewould have lowered that outlay toabout $40,000. But he doesn’t thinkthe site will attract much traffic atfirst, because it had no prelaunchmarketing. For now, he says, peoplewill still look to the Times.
“I’m anxious to see how [the site]is promoted,” Mr. Binder says.
Sooner rather than laterrebny president Steven Spinolasays that prelaunch promotion did-n’t make financial sense and that he’ssure skeptical firms will join “soonerrather than later.” The site is not try-ing to compete with the Times, heinsists.
Listings must comply with theboard’s ethics regulations, Mr. Spin-ola says. For example, a listing mustbe removed as soon as a property issold so that brokers can’t play “baitand switch.”To list, firms pay a one-time fee, plus $100 per broker annu-ally. Listings must be exclusives.
Rental units are a problem asthey’re usually listed with many bro-kerages, and REBNY is working onways to present rentals effectively,Mr. Spinola says.
Fearing extinction,industry fights for rate increase, counters activists
BY SAMANTHA MARSHALL
greenwich village isn’t the mostobvious location for the world pre-miere of an Indian movie. But that’sexactly where Vanaja, the story of anaspiring young dancer from Andhra
Pradesh, debuted in August—wellahead of the film’s release back homeon the subcontinent.
The film’s producer, RajneshDomalpalli,wanted to tap the grow-ing audience of Indian immigrantsin the New York metro area and theflourishing crossover market of theculturally curious.
Other Indian media concernshave also set their sights on this bur-geoning consumer niche.
Bollywood is booming here asIndian media firms—from televi-
sion producers to film distrib-utors—rush to plant their flags. Inthe past two years, more than adozen of these businesses haveopened or expanded New York areaoffices, or inked distribution dealswith carriers such as Cablevisionand DirecTV.
While many are indigenous NewYork companies formed by Indian-American entrepreneurs, major In-dian conglomerates are also cominghere to establish a toehold in the po-
Bollywood in the cityLocal and foreignTV, film businesses burgeon in NY area
Broad residentiallistings could hurtads; some skeptics
October 1, 2007 | Crain’s New York Business | 3
ASIAN ELEPHANT:Vinodh Bhat saysmonthly revenues for212Media are growing at a double-digit rate.
See BOLLYWOOD on Page 8
Carriage owners take reinsIAN McKEEVERsays ShamrockStables ishurting becausefewer day-trippers arevisiting.
buck
enn
is
The charge forthe first half-hour of a ridecould hit $44
buck ennis
CNYB 10-01-07 regular book 3 9/28/2007 7:15 PM Page 1
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HIGHLIGHTS REEL
STOCKS TO WATCH by Erik Ipsen
SINKERS5-DAY 1-MONTH 3-MONTH CLOSING
% CHANGE % CHANGE % CHANGE PRICE
J. Crew -8.4% -15.0% -20.1% $41.50
Maidenform -7.0% -7.0% -19.0% $15.88
Martha Stewart -7.0% -6.4% -31.7% $11.67
Foot Locker -6.2% -5.4% -30.5% $15.33
Aéropostale -5.2% -7.4% -32.1% $19.06
RISERS5-DAY 1-MONTH 3-MONTH CLOSING
% CHANGE % CHANGE % CHANGE PRICE
Weight Watchers +6.1% +11.4% +12.5% $57.50
Nasdaq +5.8% +18.2% +26.9% $37.68
Cognizant +5.2% +14.2% +4.2% $79.79
Barr Pharmaceuticals +5.1% +13.5% +11.8% $56.91
Bear Stearns +4.7% +13.3% -14.7% $122.81
NEARLY TWO YEARS into its six-yearrestructuring, Avon Productsmanaged to pique investors’ interestlast week. True, the only fresh newswas that the seller of beauty items willtake yet another charge of as muchas $20 million related to yet morelayoffs. But some analysts are callingthe shares—up barely 1% in the lastsix months and off 20% from their2004 highs—a relatively risk-freebargain. That’s a pretty appealing pitch.
Last month, Mayor Michael Bloomberg said the credit crisis could sock thecity’s economy, and last week, a big real estate mutual fund connected thedots. Predicting a decline in demand for Manhattan office space, the fundsold its stakes in several city landlords, including the largest, SL GreenRealty. Shares of the REIT soared 8% last week on the hope of further cuts ininterest rates but are still down 27% from their February high of nearly $159.
Once, 1-800-Flowers just soldblooms. Now it hawks everythingfrom roses to gourmet food. Theexpansion has transfixed investors,who have driven up the stock 120%over the past year. Naysayers notethat others do a better job ofdelivering some of these products,but it seems that no one does somuch so well. With shares selling at27 times next years’ earnings, theblush may be off the rose.
Avon Products’ multiyear makeoverfinally draws an appreciative crowd
BY TOM FREDRICKSON
Shares of bunge ltd., theWhite Plains, N.Y.-based com-pany that, among other things, isthe leading fertilizer producer inSouth America, have been
shooting up like richly nourished cornplants in the middle of a moist, sunnysummer.
The company’s stock closed on Fridayat $107.45,up 49% since Jan.1, largely onthe strength of better-than-expected re-sults in the first two quarters. Investorshave also been wowed by Bunge’s manu-facture of ethanol and other biofuels, asmall but growing piece of this agribusi-ness conglomerate.
Investors, beware:This is a good com-pany, but its stock is no longer cheap.Theshares are trading near an all-time high of22 times trailing 12-month earnings—more than double the multiple investorshave given archrival Archer DanielsMidland Co. Additionally, Bunge’s re-sults are anything but predictable.
“Profitability can swing wildly onchanges in crop yields, commodity prices
and currency exchange rates,” Morn-ingstar analyst Anne Gilpin wrote in a re-cent investment report.
True, Chief Exec-utive Alberto Weisserhas done wonders,transforming Bungefrom a family-con-trolled, South Ameri-can-centric com-modities trader rivenby squabbles amongthe owners to a pub-licly traded globalpowerhouse.
Five years ago, inone of his boldestmoves, Mr. Weisserbuttressed Bunge’sglobal position withthe $1.6 billion acqui-sition of French veg-etable-oil makerCereol. Bunge is nowthe world’s largestoilseed-processingcompany and largestseller of bottled vegetable oils.
Mr.Weisser has built new grain termi-nals in places from Argentina to Latviaand greatly increased shipping efficiency.The Brazilian-born executive also starteda program to give capital-squeezedBrazilian farmers fertilizer, which theypay for with crops.
Since Bunge’s initial public offering in2001, revenues have grown at an averageannual clip of 24%, driven mostly by
higher global com-modity prices. Thecompany forecastsearnings growth of10% to 12% for thenear future.
But such forecastscan be hard to hit.
Last year, for ex-ample, Bunge sufferedfrom its outsized ex-posure to the fast-ex-panding Brazilianmarket, which ac-counted for a big sliceof revenues. Earningsslumped when fertil-izer use there plum-meted after the gov-ernment slashedsubsidies.
Analysts expectBunge to earn $4.77 ashare this year, up 23%
from 2006, and revenues are forecast tosoar 41%, to $37 billion. As good as thosenumbers look, they are still subject tohuge swings. This is no time to try tosqueeze profits from this already priceyoilseed crusher.
Whiskey makersthink youngereven booze makers are seekingthe fountain of youth these days.To attract a younger demographic,Johnnie Walker Blue Label willlaunch its first 35 Under 35Awards at Gramercy Park Hotelon Thursday.
Diageo North America willfete a cross-section of artists,entertainers and executives, whowill be promoted with thepublication of a coffee-tablebook. Comedian Aziz Ansari, MTVNews producer Joseph Patel, andartist and designer Kenzo Minamiare among the 35 names on thelist.
“The under-35 community is… not where the bulk of scotchdrinkers traditionally comesfrom,” says Bill Topf, vice presidentof scotch and Irish whisky forDiageo North America.
The targeted marketing effortis Diageo’s way of weaning thehipsters off vodka in favor of themore traditional tipple. “This isour way to get out in front of thesepeople,” says Mr.Topf.
iPods invadegift bagsipods are the latest “it” giftsgracing goodie bags. Firebrand, amedia startup hosting its launchevent during Advertising Weeklast Tuesday, handed out 50 of thenewest nanos to attendees.Thefirm loaded the $150 devices withvideos shown during its pressconference, along with companyinfo and a Web demo.
“Everything we do is digital,and traditional press kits seemedvery old-school to us,” says RománViñoly, Firebrand’s co-founder andchief creative officer. “A newmedia product was a logical fit fora new media company like us.”
Firebrand is not the first to usethe little Apple gadgets to impressguests. Earlier this month, therefurbished Mansfield Hotelcelebrated by giving away 500nanos to travel agents and others
at a splashy party. A boutiquehotel with modern touches, theMansfield chose the iPod gift toreflect the docking stations ineach room.
During the summer, HBOfilled gift bags with video iPodswhen it debuted Voyeur, a longform commercial, at an event on
the Lower East Side. Andcosmetics-maker Redkendistributed the video players,loaded with hair-care productdetails, and engraved with thecompany logo, to guests at anotheraffair.
Title promotesgreen condos green developer SheldrakeOrganization is inching into themagazine business—and hopingto sell more units in its eco-friendly Battery Park City condo,Riverhouse.
Last Christmas, the developerissued what it expected would be aone-time-only glossy to helpbrokers sell apartments. O2featured articles on green living,tips about the neighborhood—and renderings of the certified-green condos. More than 100,000copies were distributed as inserts,given to prospective buyers andhanded out at events. But withonly 60% of the 264 units sold,Sheldrake is putting out issue No. 2 in late October.
“This one will be a little morehard-sell,” says MarketingDirector Monique Roeder,explaining that the 64-pageluxury-lifestyle magazine willcontain a 32-page inserttrumpeting the development.
Contributors: Lisa Fickenscher, MatthewFlamm, Samantha Marshall,Alix Strauss
Café Gray is back, for lunch
Café gray’s brief foray into catering didn’t sizzle,forcing the eatery run by celebrity chef Gray Kunz(left) back into the lunch business.
After a seven-month hiatus, the Time Warner Centerrestaurant will begin serving midday diners again this week.
“We weren’t getting enough parties of 25 people or more,”says General Manager Richard Hollocou of the cateringexperience.
The new lunch offering, a prix fixe menu for $38 perperson, is less expensive than the former à la carte menu,which ran about $55 per person. Diners can also expect to beserved more quickly, says Mr. Hollocou, noting that themenu is smaller, allowing the kitchen to be swifter. Amongthe dishes is a mini foie gras meatloaf that was previouslyavailable only at the bar.
DIRTY, SEXY MONEYLUST, CAUTION, Ang Lee’s breath-taking and sexually graphic filmabout love, espionage andbetrayal, had itsNew York debut atthe LandmarkSunshine Theateron Thursday. Mr.Lee (right),between hand-shakes, photo-graphs and a tête-à-tête with Sex and the City’sKristin Davis at the Bowery Hotelafterparty, said his partnershipwith Manhattan-based FocusFeatures has been invaluable.“They’re crazy to invest this kindof money in Chinese drama,” hesaid. “And I didn’t tell themabout the sex scenes.” Themovie will open Oct. 5.
edited by Valerie Block
BLIND TASTINGSEBEKA, a South African vineyard, introduced its chardonnayand Shiraz wines to New Yorkers at a quirky dinner party at aNoLIta restaurant last week. Guests at Public, including BrookeShields and Chloë Sevigny, were asked to don leopard or zebrablindfolds to better experience the flavors of the wine and cui-sine. Sebeka, named for an orphaned cheetah cub, brought itswines to the States this year.
6 | Crain’s New York Business | October 1, 2007
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pitcher,” Mr. Bradbury points out.For the Yankees, staggering be-
neath the burden of a record-crush-ing $200 million player payroll, sucha cash injection is all but imperative.The team has posted an operatingloss every year since 2003—its lastWorld Series, according to Forbes.
“When the Yankees say, ‘Wemust make the World Series,’ theymean that from a financial as well asa baseball perspective,” Mr. Mc-Donnell says.
Getting into that fix has been nomean feat, considering that theBronx Bombers rank as the greatestmoney-making machine in baseballhistory. The team sold a record 4.3million tickets this year, an averageof 53,000 a game. They also reapedabout $125 million from the YEScable channel.
Accumulated benefitthe postseason payoff for theYankees actually begins well beforeopening day. Chief Operating Offi-cer Lonn Trost declined to com-ment about finances, but he saysthat one of the long-term benefits offinishing on top of the AmericanLeague East year after year is theimpact on season-ticket sales,whichhave doubled since 1995, to 36,000.
The team’s repeated success on
the field has also made a juggernautof YES, which generated a total of$340 million in subscription and adrevenues last year, according to me-dia analyst John Mansell.
For the Mets, postseason stakeshave always been more skewed tothe long term. Being in the postsea-son two years in a row for the firsttime since 2000 would go a long waytoward narrowing the huge revenuegap with the Yankees.
The Mets,despite a player payrollof $116 million, had $24 million innet operating income last year, ac-cording to Forbes. It was the organi-zation’s first profitable year since2003,thanks partly to the fact that theteam got to the last game of the Na-
tional League Championship series.But the Mets’ 2006 revenues of
$217 million lag far behind theBombers’$302 million.And thoughattendance at Shea Stadium hasrisen significantly in the past fewyears—reaching 3.8 million thisyear, or an average 47,000 a game—the Mets have 10,000 fewer season-ticket holders than the Yankees do.Meanwhile, total revenue of $140million last year at Mets’ channel,SportsNet New York, was far lessthan half that at YES, according toMr. Mansell.
The Mets declined to commenton their finances.
Helps the medicine go downpostseason play would do a lot todemonstrate the Mets’ momentumand persuade corporations to ponyup for luxury boxes, says MauryBrown, president of research firmBusiness of Sports Network. Itwould also help get fans to acceptwhat experts predict will be a 20%hike in ticket prices in the new sta-dium, slated to open in 2009.
“The Mets stand to get a huge re-turn if they can establish themselvesas consistent winners,” Mr. Brownsays. “They could charge more forcorporate sponsorships and morefrom cable systems to carry SNY,and get more fans. In short, theycould become very much like theYankees.”
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Postseason profits LOCAL BUSINESSES’ CASH CALLROBERT DE LA ROSA is counting on the Yankees’ postseason appearances togive his family’s Molino Rojo Restaurant, just up the street from thestadium, a reason to celebrate.
Before, during and after big games—against the Mets or Red Sox, forexample—the place is packed and a line snakes out the door. Extending suchnights beyond the regular season can add as much as 20% to annualrevenues, according to Mr. De La Rosa.
“We basically count on the Yankees,” he says. Unlike Shea Stadium, which is largely cut off from its Flushing, Queens,
neighborhood by expressways, Yankee Stadium stands in the heart of itscommunity. Owners of businesses on the blocks around the stadium and thesubway stop, at 161st Street and River Avenue, say that a playoff run can addanywhere from 10% to 25% to their annual revenues.
Local businesses operate on a Yankee calendar. At Jeans Plus on East161st Street, the window displays—and sales receipts—change according tothe baseball season rather than the weather. And no wonder: More than halfthe merchandise racks and wall displays consist of Yankee gear.
“If the Yankees win, it’s very important for us,” says Djibril Cisse, thestore’s manager. “When they lose, people don’t want to buy things.”
After watching the hometown team make it the playoffs for the past 13years, many merchants admit that they have grown to expect it.
The postseason “has become an integral part of our business,” says JoeBastone, owner of the Yankee Tavern on East 161st Street. “It can mean thedifference between no bottom line and a great bottom line.”
Games bring in large crowds and the opportunity to charge higher prices.At Yankee Tavern, for instance, beer is $6 on game days, a buck more thanusual. The corned beef platter, which goes for $8 when the Bombers are atthe plate, is 50 cents more. Mr. Bastone figures that a single playoff gamecan bring in a week’s worth of normal revenues.
For much of this year, longtime neighborhood residents feared that the2007 season would be a throwback to the bad old days.
Mr. De La Rosa remembers that the Yankees were a losing team when hisfather bought the Molino Rojo in 1988. “We had to wait until 1996 to tastethe fruit,” he says.
—HILARY POTKEWITZ
Continued from Page 1
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over town. With calls from workerspouring in from sluggish regions ofthe country and New York construc-tion still on a tear,unions are expect-ed to bring in many more travelers.They will probably have a hand inbuilding new Manhattan officetowers and the new baseball stadi-ums in the Bronx and Queens.
Meeting demands“with help from travelers and larg-er apprentice classes, I am cautious-ly optimistic about meeting the de-mands for coming projects,” saysLouis Coletti, chief executive of theBuilding Trades Employers’Associ-ation. He estimates that the unionshave imported 500 to 1,000 work-ers, up virtually from none a year ortwo ago.
Travelers come to New York for
months at a time, renting rooms inboardinghouses or staying withfriends or family. With overtime,they’re earning the kind of pay moreoften associated with manipulatinga scalpel than wielding a wrench.
“The only reason I come here isfor the money,”says Chuck Roberts,a steamfitter working at a KeySpanrefinery in Brooklyn. The Green-boro,N.C., resident expects to makemore than $100,000 in his currentnine-month stint, at least threetimes what he would make in theSouth over the same period.
But some critics say the unionsshould be taking advantage of theboom to recruit more women andminorities in New York City. Theunions have added only modestly toapprenticeship rolls; about 8,000apprentices work across the trades,compared with 7,000 at the begin-
ning of the decade. A preappren-ticeship program for adult residentsof housing projects and public highschool students has added 800women and minorities to the con-struction industry since 2001.
“It is definitely frustrating that
we are bringing in outside construc-tion workers to fill the vacuumrather than grooming more low-in-come New Yorkers for positions inthis industry,” says JonathanBowles,director of the Center for anUrban Future. “With the decline ofmanufacturing and other blue-col-lar jobs, construction jobs are one ofthe few remaining middle-incomeoccupations today.”
Temporary conditionunion officials say it would be amistake to sharply increase theirranks because recent increases inconstruction employment reflectthe temporary confluence of severallarge construction projects. Theyalso argue that the recent rise in em-ployment is deceptive because itmerely makes up for jobs lost after2001, the previous cyclical peak.
“Nothing in the numbers war-rants a massive increase in bringingin new members,” says Paul Fernan-des,chief of staff of the Building and
Construction Trades Council ofGreater New York.
As the two sides debate the issue,travelers are making the most of theboom.
Plumbers Local 1 has 110 out-of-state workers on city job sites,along with its 5,000 members.Theyhail from union locals as close asNew Jersey and as far away as Cali-fornia, says Donald T. Doherty Jr.,business agent at large.
Joseph Lockwood, a steamfitterbrought in by Steamfitters Local638, came up from Baton Rouge,La.. He was called here three weeksago to do welding on the GoldmanSachs building.
“I make good money for doingwhat I do,” says Mr. Lockwood,who’s living in Orange County,N.Y.,while he looks for a closer place, innorth Bergen County. “It’s not rock-et science, but everybody can’t do it.You have to be trained and skilled.”
Unions bring in out-of-townersContinued from Page 1
funds under management and hasstarted middle-market and com-mercial real estate lending units.Hisgoal is to double annual profits.
Unite Here General PresidentBruce Raynor says: “We see atremendous opportunity to expandby going to where the unions arestrong and union members arestrong, and to build on our positionas being the financial institution ofthe union movement. We selectedDerrick to take the bank to the nextlevel.”
Going after pension fundsamalgamated has about $4.6 bil-lion of assets, according to the Fed-eral Deposit Insurance Corp. Mea-sured by deposits, it’s the city’s25th-largest bank—the same levelas a large community bank. Adjust-ed for a one-time gain on the sale ofits headquarters building, Amalga-
mated had pretax income of $14.8million last year, FDIC data show.For the first half of 2007, it had pre-tax earnings of $10.8 million.
An obvious growth area is trustand investment management.While U.S. unions account for hun-
dreds of billions of dollars in pen-sion assets, Amalgamated, the na-tion’s only union-owned commer-cial bank, holds only $13 billion.The bank is adding five salespeopleto its one-person sales staff to pur-sue more of that business.
“For the first time, we are devel-oping marketing materials, withprofessionals actually calling onpeople and speaking at big semi-nars,” Mr. Cephas says.
But being owned by a union is adouble-edged sword. In targetingareas where many of its 100,000New York members live, Amalga-mated is opening branches in neigh-borhoods—like Long Island City,Queens, and Bedford-Stuyvesant,Brooklyn—abandoned by otherbanks because of meager profits.And being a union-owned bankwith a social mission—meaningthat it will never go public—limitsits ability to attract top talent, be-
cause Amalgamated can’t offer thestock-based compensation thatcompetitors provide.
“We recognize we are at a disad-vantage by not having a publiclytraded security,” Mr. Cephas says.“We are looking at ways to providecompensation other than cash.”
Growth in Las Vegasthe union ownership is the primedriver of a pending deal to buy threesupermarket bank branches in LasVegas, where Amalgamated alsoplans to build a stand-alone branch.There are 65,000 members in SinCity, most of them working at casi-nos, hotels and restaurants. Thebank is also looking to expand in At-lantic City, where Unite Here has alarge presence.
This year, Amalgamated openedits first new branches in five years,one in underbanked Long IslandCity and the other near UnionSquare. The bank, which currentlyhas 13 branches,plans to open aboutfive in Brooklyn, two in the Bronxand one in Queens. It expects to
have 31 branches nationwide in twoto three years.
Amalgamated is also eager toserve the business community by in-creasing its middle-market andcommercial real estate lending.Thebank has more than $2 billion—about half its assets—invested inlow-yielding bonds.
The money could be more prof-itably put to use in loans. Amalga-mated has a subpar 0.6% return onassets compared with publicly trad-ed banks its size,which return an av-erage of 1% on assets.
In recent months, Amalgamatedhas added its first mid-market lend-ing team, which jumped ship fromNorth Fork Bank.
The move into commercial realestate comes as the credit squeezehas put the sector under pressure.But Mr. Cephas’ team is makingrelatively small loans, in the$15 million to $30 million range,that are missed by some larger com-petitors.
“I picked New York because it isthe ultimate melting pot, and every-thing is coming together now,” saysUday Kumar, the U.S. head of Indi-an film distributor Adlabs. Thecompany came to the States lastMay and is moving its offices fromEdison, N.J., to lower Manhattan.“We have to be here.”
Of course, as competition heatsup, the largest players with existingties stand to gain the most. U.S.-based mobile, satellite and cablecompanies would rather buy contentfrom a small handful of South Asianfirms than deal with multiple outlets.
“Companies like Time Warnerand Verizon don’t necessarily wantto deal with 50 different Bollywoodplayers,” says Vinodh Bhat, co-founder of 212Media,an Indian mul-timedia firm that distributes contentto digital, cable and mobile carriers.
That’s not dampening enthusi-asm. Exact investment figures arehard to come by, but anecdotal evi-dence suggests that the market isgrowing quickly.
Filling marketing needsmasala.com, a public relations andmarketing firm that specializes inserving South Asian media and en-tertainment companies, says it hastripled its client base since 2001.Another half a dozen Indian firmshave since opened here to providemarketing services to film and me-dia companies.
One of Masala’s biggest clients isSony Entertainment TelevisionAsia, a broadcaster of Indian pro-gramming that was launched in In-dia and has since branched out intoNew York City. The network waspicked up by Cablevision in August.
Its slate of cricket games, sit-coms, movies and news could pickup plenty of viewers.New York City
is home to about 275,000 SouthAsians, who make up one of thefastest-growing group of immi-grants in the metro area, accordingto 2005 estimates from the U.S.Census Bureau.The Bollywood au-dience also includes people from theMiddle East, Africa and EasternEurope. About 1% of the generalmarket is also interested in Indiancontent, experts say.
“The world is changing rapidly,and people are more accepting of ourculture,” says Adlabs’ Mr. Kumar.
New York,with its concentrationof U.S. media and film outlets andvast South Asian population, makesthe ideal North American base, es-pecially for film distributors.
Adlabs, for instance, has released15 movies in theaters and another 38titles for home video.It earned about$5 million in its first year of opera-tion. The company, which is ownedby Mumbai-based conglomerateReliance Industries, plans to triple
its staff in the next few months.212Media, meanwhile, has ex-
panded to more than six times itsoriginal size since it was founded herein 2003 and now has about 40 em-ployees. The company says monthlyrevenues, now in the six figures, aregrowing at a double-digit rate.
Digital distribution212media owns Saavn, a digital dis-tributor of South Asian entertain-ment; Sportsvite, a social networkfocusing on recreational sports; andSpeakaboos, an online children’spublisher.
Indian television is also growing.International Television Broadcast-ing, which has been in business inthe metro area for more than twodecades, plans to launch nationwideby early next year.
Indian content companies arealso partnering with U.S. firms. InAugust, major Indian film producerUTV Films signed a deal allowingCommack, L.I.-based TitleMatchEntertainment to sell Indian filmsfrom UTV’s vast catalog for videoon demand.
New York City $44 $75Source: United Association of Journeymen andApprentices of the Plumbing and Pipe Fitting Industryof the United States and Canada
PRINT MAKES ITS MARKAS INDIAN broadcast and film companies expand in New York, old-fashionedprint is thriving as well. After a few turbulent years, the Indian-Americancommunity’s largest paper—India Abroad, which is owned by Indian mediagiant Rediff.com—now boasts revenue and circulation growth of about 10%a quarter. Ads from Indian banks and airlines, along with better coverage ofIndia’s thriving economy, are fueling the rebound of the broadsheet, whichhas a circulation of about 40,000 readers. “We are getting more popular dayby day,” says Rajeev Bhambri, India Abroad’s chief of operations.
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the last few months. All were vic-tims of rising rents. Institutionssuch as Morris Bros. departmentstore, book seller Murder Ink andWestend Coffee are only memoriesnow as landlords push them out inhopes of landing national retailchains willing pay double or triplethe rent.
In the last year alone, the medianasking rent for retail stores betweenWest 72nd and West 86th streetsrose to $327 per square foot, up 29%from $254 per square foot, accord-ing to the Real Estate Board of NewYork.
“There are independents leavingleft and right because they can’t af-ford the rent,” says Ira Goller, own-er of Murray’s Sturgeon Shop at2429 Broadway, between West 89thand West 90th streets. His shop hasbeen selling delicacies such as saltedsalmon and whole whitefish to Up-per West Siders for 60 years. “I’mlucky; I have a very nice landlord,”he says, adding that he is in the mid-dle of a long-term lease.
Next in linethese few blocks represent a re-tail change sweeping the city asbanks and national chains outbidthe mom-and-pop shops that oncedominated Manhattan. SoHo,
Union Square and Times Squarehave already become outdoor malls.This northern stretch of Broadwayis simply the next in line.
“I saw the writing on the wallabout three or four years ago,” saysLambrose Barbagiannis, the third-generation owner of EmbassyFlorist. He moved the business toClifton, N.J., after his landlordjacked the rent up to $24,000 from$16,000 a month.
Many of the area’s smaller busi-nesses—clothing boutiques, book-stores and hat stores—face morecompetition than ever. Even a slightrent increase can push them over theedge. Meanwhile, landlords arewilling to keep their properties va-cant until a big-spending tenantcomes along, which is why theneighborhood has so many emptystorefronts right now.
More closures are surely on theway. Locals say that some stores arepaying rent on a month-to-monthbasis because their landlords won’trenew their leases.
“As the neighborhood gets rich-er, more nationals take a look at thedemographics, and they want in,”says Stu Morden, a NewmarkKnight Frank Retail broker who ismarketing a handful of store sites inthe area.
Third-richest neighborhoodamerican eagle outfitters andGeox are two of the chains search-ing for space in Manhattan’s third-richest neighborhood, where themedian household income is$90,600, according to the U.S.Census Bureau. Another chain, LePain Quotidien, will soon open be-tween West 90th and West 91ststreets.
On Broadway at West 87thStreet, four retailers, includingWestend Coffee, recently closed.Rumors have been swirling about aWalgreens taking the four spots,butbrokers say that deal fell through.Still, the landlord is combining thestorefronts in hopes of attractinganother big tenant.
Until recently, most of the na-tional players only wanted to rent onBroadway south of West 86th
Street, but they are now said to besearching as far north as West 92ndStreet. The trend is likely tostrengthen as Whole Foods finishesbuilding its new store at 808Columbus Ave., at West 100thStreet.
“Big retail on Broadway will goall the way to 116th,eventually,”saysAriel Schuster, a Robert K. Futter-man & Associates broker. He re-cently finished a deal for nationalclothier Chico’s at 2300 Broadway,at West 83rd Street.
As the face of the Upper West
Side changes, some retailers knowtheir time on the avenue is limited.“My landlord has been good to me,but he let me know at the last sign-ing that he’s making all the leases inthe building end at the same time,”says George Bosler, owner of Can-dlelight Wines at 2315 Broadway,between West 83rd and West 84thstreets. His store is two years into a10-year lease.
“He would love to see a HomeDepot in here.” Mr. Bosler says.
Priced out on Upper West SideContinued from Page 1
10 | Crain’s New York Business | October 1, 2007
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STAYING PUT AT ALL COSTSAS COMPETITION FOR SPACE HEATS UP, some longtime retailers are bendingover backward to hold on to their spots.
Optical shop Gruen Eyes relocated its store two doors up when itslandlord wanted to make room for a bank at the corner of Broadway and West87th Street. The store has operated in the neighborhood for 20 years, andowner Scott Rosenwald was determined to stay.
The Kosher Marketplace is willing to do what it takes to remain at 2442Broadway, between West 90th and West 91st streets. “We have a base ofcustomers here,” says owner Alan Kaufman, who has operated his store inthe location for nine years. When it opened, the Kosher Marketplace paidabout $85 per square foot in rent. Now, it pays closer to $200 a squarefoot.
With three years left on his lease, Mr. Kaufman has already startednegotiating a new long-term deal with his landlord. He is offering to expandhis 1,800-square-foot shop into a 750-square-foot vacant storefront next doorif the landlord will renew his lease for 15 more years.
By taking over the additional space and locking in a deal early, Mr. Kaufmanhopes to prevent his landlord from striking up talks with national chains that canafford higher rents. “This is becoming prime real estate,” he says.
‘Big retail on Broadway will go all theway to 116th’
CNYB 10-01-07 regular book 10 9/27/2007 7:31 PM Page 1
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I DOUBT that lower fares in offhours will get many to changetheir habits. People who have toget to work can’t change; peoplewho can change timing havealready done so to avoid the rush-hour crowding (see Crain’s onlinepoll, Page 13).
joewhitaker
YOU’VE GOT tobe kidding me.
tina gray
I THINK that theMTA shouldlearn to manage itsmoney better, but if there must bea fare hike, I think the off-peakdiscount makes more sense.Riders at night and on theweekends get far less service fortheir $2. It would be nice to atleast get a discount for putting upwith the extra hassle.
skye mcfarlane
MARKET INCENTIVES should be usedto help reduce congestion on masstransit as well as on the highways.
john tepper marlin
GIVE ME clean trains and stations,competent booth agents, andshorter wait times at night and onweekends.
doug peterson
I CHOOSE “noincrease,” with off-peak discountsengineered tobring more riderson board. Moreriders wouldproduce moreincome.
johnpapandrea
UNTIL THE MTA balances its budgetand justifies its need for fareincreases, I do not think weshould have any increase. Double
the tolls to force people to takepublic transportation, and use thetoll money to subsidize fares onpublic transit.
terry grace
FRANKLY, the MTA should beprivatized, as the private sectorwould produce a far better serviceat lower prices than thegovernment and still make ahandsome profit.
clifford sondock
ONE OF THE GREAT economicproblems of transit systems isrush-hour capacity. You have topay the cost to maintain facilitiesthat don’t get used most of thetime.The greater the period oftime over which you can spreadpeak usage, the more economic the
operation.david jacoby
PEOPLE ARE willing to pay forimproved service. As a WestVillager, I’ve seen our populationincrease and our bus service almostdisappear. I hope the new regimewill be able to restore the servicewe once had and need now morethan ever before.
lois c. schwartz
It took almost two decades for the city’shospitality industry to persuade city and stateleaders to expand the Jacob K. Javits ConventionCenter. Now, leading members of the industry,dismayed by escalating costs and the Spitzeradministration’s interminable indecision about theproject, are talking about scrapping the plan.
Doing so would be a blow to the city’s future but isinevitable unless the state shows some backbone by takingresponsibility for financing the expansion.
It has been over two years since the state finally approveda $1.8 billion proposal to increase the center’s space by some300,000 square feet. Almost immediately, soaringconstruction costs led to many design compromises. Whatemerged in the final days of the Pataki administration was aproposal that dismayed exhibitors, who thought it wouldraise their operating costs substantially.The plan alsoencountered opposition from political figures, led by U.S.Sen. Charles Schumer, who claimed that it was simply notambitious enough.
The Spitzer administration arrived on the scene with apromise to review all major economic development projectsin 90 days. Last week, six months after that deadline passed,downstate economic development chief Patrick Foye finallygave the hotel industry a preliminary briefing on histhinking. What took so long remains a mystery.
Mr. Foye’s preferred alternative would add 200,000 squarefeet of exhibit area and 100,000 square feet of meetingspace—marginal improvements—at a cost of $3.2 billion. As
if the delay and the ballooning price tag aren’t bad enough,Mr. Foye wants to put the onus on the industry to come upwith the additional billion-plus. Never mind that hotels arealready collecting a $1.50 surcharge on each room night, thekey source of revenue for the original plan.
The rationale for a larger center—Javits ranks about 17thamong similar facilities nationwide—has always beencompelling. It will attract more major meetings, and that isalmost certain to spark the construction of large hotels onthe far West Side. Restaurants, cultural groups and even taxiowners will benefit. So will average New Yorkers.The jobs
created by the tourismindustry are among thebest first steps on theladder of economicsuccess, offering goodpay, benefits andadvancementopportunities.
It’s up to theadministration–whichmeans Mr. Foye—to
find the money. He needs to start with the state and the city,which must increase the $350 million that each havecommitted to a larger Javits. He needs to figure out a way toextend the burden to the other businesses that have a directstake in the expansion. Only then should he ask hotels toraise the surcharge. If he doesn’t, he will find even the mostdevoted advocates of a larger Javits turning their backs on it.
Poll:Will off-peak discount work?
Javits supporters on the ropes
Both the cityand state mustincrease theircommitment
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12 | Crain’s New York Business | October 1, 2007
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Meetings andconventions
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PUBLISHED BY CRAIN COMMUNICATIONS INC.chairman Keith E. Crainpresident Rance Crainsecretary Merrilee Craintreasurer Mary Kay Crainexecutive vp, operations William Morrowsenior vp, group publisher Gloria Scobygroup vp, technology, circulation,
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CNYB 10-01-07 regular book 12 9/27/2007 7:29 PM Page 1
“They were talkingabout O.J.,” he com-plained. “I know aboutthat.” He flipped back,but soon the Yankeesstole his attention.
Game over. WNBChad failed to convert myhusband.
Breaking with a tra-dition established overdecades,WNBC boldlylaunched its 7 p.m. pro-gram for viewers likeMitch, who work longhours, commute farther and justdon’t get home in time for the early-
evening newscast.But the station is
taking a beating.For thefirst two weeks of NewYork Nightly News,WNBC’s ratings in thetime period plunged by29% among house-holds, 20% among totalviewers and 23% amongviewers aged 25 to 54compared with num-bers for Extra, whichhad occupied that timeslot.
Though it’s too early to saywhether the show will succeed or
fail, the broadcaster isn’t the onlyone to gamble on viewers’ desiresand come up with snake eyes.
CBS took it on the chin after itheralded the reinvention of networknews. With ratings for the BigThree’s evening broadcasts waning,CBS softened its format, introduc-ing opinion segments likefreeSpeech and,most significantly,afemale anchor, Katie Couric.
But it turns out that change wasexactly what viewers didn’t want.When ABC put old-faithfulCharles Gibson in its anchor chair,continuing with a format developedover decades, the show moved tothe top spot.Meanwhile,CBS’s rat-ings in the time period continue todrop.
Any network trying to divineviewers’ desires faces a minefield inthis daunting age of infinite mediachoices. But change for change’ssake is clearly not the answer.
When it comes to news, oldhabits die hard.Though some view-ers may want to watch local news at7 p.m., WNBC probably didn’tneed to alter the format. New YorkNightly News, it said, would be asubstantive program,with a solo an-chor, following the network newswith Brian Williams. No sports, nofluff.
But Mitch wants the local newsthe way he’s used to getting it. Hedoesn’t want to see Chuck Scarbor-ough debriefing his reporters on air.
“I want the news, the headlines,the graphics,” Mitch says.
News consultant Al Primowarns,“If they’re trying to do some-thing different, to give viewerssomething new and fresh, they’remaking a very big mistake.”
These 7 p.m. viewers just gothome; they’re starting from scratch,Mr. Primo says. “Give them a good,solid, ‘here’s what happened today’program—the meat and potatoes ofthe news.”
Every media company wants tocapture younger viewers or recap-ture its glory days. That can be adangerous game.
“They need to buckle up to thecore audience and introduce new el-ements very carefully,” Mr. Primosays. “They need to respect thebase.”
When my husband, Mitch, heard aboutWNBC’s new 7 p.m.newscast,he got excit-ed. He loves watching the news but is rarelyhome in time to catch the 6 p.m. broadcast.So, when he tuned in a couple weeks ago, I
was surprised that five minutes later I heard Bart Simpson inmy living room.
CRAIN’S ONLINE POLL
WHICH MTA FARE HIKE PROPOSAL WOULD YOU SUPPORT?A SLIM MAJORITY of the 334respondents favor the plan for anincrease of 25 cents in the basicsubway fare that would maintaincurrent discounts. But 45% preferthe plan in which the quarter hikewould be accompanied by adiscount during nonpeak hours.
For readers’ comments, see Letters to the Editor on Page 12.
A 25-centincrease in
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A similarincreasethat createsa lower off-peak fare
45%55% ..
Even if it’s broke,news is hard to fix
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October 1, 2007 | Crain’s New York Business | 13
CNYB 10-01-07 regular book 13 9/27/2007 6:22 PM Page 1
room tax again to pay for theadditional cost.The $1.50 per roomtax went into effect in April 2005and has raised about $70 million.
Mr. Foye suggested raising thetax to $2.50, but Hotel Associationof New York City officials areplanning to reject it.They arefighting a perception that NewYork City is too expensive forconventions, says one insider.
Mr. Foye, this timeaccompanied by Deputy MayorDaniel Doctoroff, is scheduled tomeet with Hotel Associationmembers Oct. 15.
Lawyers face offover Willets Pointcity officials have hired a worthy
adversary to Michael Gerrard, theenvironmental lawyer representingWillets Point property ownersagainst a massive redevelopment ofthe so-called Iron Triangle.
David Paget, a partner at SivePaget & Riesel, was retained tosteer the Willets Point projectthrough what will surely be acontentious approval process. Hehas been litigating and managingenvironmental cases since the early1970s, after a stint as an assistantU.S. attorney in the SouthernDistrict.
Mr. Paget helped win approvalfor Brooklyn Bridge Park, the newYankee Stadium, the NationalTennis Center expansion, HudsonRiver Park and numerous housingdevelopments.
Site for startupscomes on linethe bloomberg administrationis working on an all-encompassing Web site forstartup businesses in the city.Called NNYYCC BBuussiinneessss EExxpprreessss, thesite currently provides a list of allthe requirements to open arestaurant by walking applicantsthrough a series of questions.Thesite, which is located atwww.nyc.gov/businessexpress, alsoidentifies the needed permits andlicenses, as well as tax incentivesavailable from city, state and federaloffices. A list of retail storerequirements is expected to beadded in the near future.
The goal by late 2009 is tobroaden the application to dozensof types of businesses and allow
applicants to file for at least 60types of licenses and permitsonline, directly on the BusinessExpress site. “We’re pushing likecrazy on this,” says Robert Walsh,commissioner of small businessservices.
Other agencies involved are thedepartments of Finance, Health,Consumer Affairs, Buildings, andInformation Technology &Telecommunications, as well as theMayor’s Office of Operations.
Pedestrian plazasin walking distanceleaders of 12 businessimprovement districts across thecity met last week with thecommissioners of theTransportation and Small BusinessServices departments to discuss thecreation of pedestrian plazas.Theplazas are an element of MayorMichael Bloomberg’s PlaNYC 2030and are being pushed by traffic-calming DOT CommissionerJanette Sadik-Khan. SBSCommissioner Robert Walsh and theBIDs believe plazas could makeneighborhood shopping stripsmore vibrant.
Columbia’s giftsto communitymanhattan borough PresidentScott Stringer’s deal to support theColumbia University expansioncomes with a list of commitmentsfrom the school.
Columbia will donate $20million to create an affordablehousing fund, pay $11.25 million tocare for the West HarlemWaterfront park over 25 years, andbuild homes for displaced tenantsin a rent-to-own program. It willalso accommodate parts ofCommunity Board 9’s 197—adesign for the neighborhood’sfuture, such as small retail spacesand community access to the newcampus. CB 9’s chairman supports
the new agreement, although hisboard rejected Columbia’sexpansion last month.
The Stringer deal would seem tooverlap with a community benefitsagreement that is being negotiatedbetween the West Harlem LocalDevelopment Corp. and theuniversity. However, LDCPresident Pat Jones calls the package“modest.” Her board continues totalk with school officials aboutaffordable housing, education andemployment. Developers areincreasingly offering such packagesin exchange for support for theirprojects.
Columbia expansion opponentNick Sprayregen, who owns busi-nesses in the development area,says Mr. Stringer has betrayed thecommunity and had promised notto support Columbia while it wasstill threatening to use eminentdomain to take people’s property.
Weiner’s officesees quick exitsis there trouble in Rep. AnthonyWeiner’s office?
Kay Sarlin has taken a job as adirector with the New York officeof the Glover Park Group after a
short stint with thecongressman,who is likely torun for mayor in2009. Ms.Sarlin, formercity Departmentof Transpor-tationcommunicationsdirector, was Mr.
Weiner’s chief of staff from Maythrough August. Insiders say thatMs. Sarlin had been told she couldoperate as chief of staff from NewYork instead of Washington, D.C.,but found that was not possible.
The office is becoming knownfor turnover. Weiner’s legislativedirector, Armen Meyer, who started inthe spring, recently left. �
Execs ponder scrapping Javits plan
Faced with a nearly doubled price tag for the Jacob K.Javits Convention Center project, hotel industryexecutives are ready to tell state officials to repair the
current center, build ameeting hall next doorand scrap the plannedexpansion.
Officials blameTishman Constructionfor underestimating theexpansion cost at $1.8 billion.
Gov. Eliot Spitzer’spoint man on the Javits Center, downstate economicdevelopment chief Patrick Foye, met with hotel executives lastweek to deliver a revised expansion plan that would cost $3.2 billion and ask whether they would be willing to raise the
THE INSIDERby Erik Engquist and Anne Michaud
BLOOMBERG RUN? One step closerWITH SEN. HILLARY CLINTON emerging as the likely Democratic presidentialnominee, Michael Bloomberg’s advisers can check off one of the boxes onthe list of requirements to lure the mayor into a presidential run. Next up is anequally polarizing candidate to emerge as the front-runner amongRepublicans. If that happens, the way would be clear for a middle-pathcandidacy to capture the great swath of voters who pundits say want amoderate choice.
But the biggest hurdle will be convincing the mayor he has a chance towin. “He doesn’t want to play Don Quixote” just to raise issues like illegal-guncontrol and immigration reform, one mayoral friend says.
To win the needed 270 votes in the Electoral College, an independentcandidate would need at least 37% of the popular vote and perhaps as muchas 40%. A recent NBC News/Wall Street Journal poll indicates that in a three-way general election, Mrs. Clinton would pull 42%, former Mayor RudyGiuliani would collect 34% and Mr. Bloomberg would
attract only 11%. The question iswhether the mayor could reach37% if he spent $1 billion ona campaign.
14 | Crain’s New York Business | October 1, 2007
POSSIBLE OPPONENTS: MayorMichael Bloomberg and Sen.Hillary Clinton.
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Anthony Weiner
CNYB 10-01-07 regular book 14 9/27/2007 8:00 PM Page 1
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In the most recent U.S.News & World Report“America’s Best Hospitals” issue, Hospital for SpecialSurgery was ranked #1 in the nation for Orthopedics.And, for the 17th consecutive year, we were top rankedin the Northeast for Orthopedics and Rheumatology.
You will also find many of our doctors in New Yorkmagazine’s latest Best Doctors issue.
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Project7 8/28/07 1:32 PM Page 1
BY THERESA AGOVINO
it’s the classic dilemma of ayoung professional—how to attractattention.
Michael Benedict opted to gogreen. The 27-year-old commercial
real estate broker has been studyingfor three months to pass an examthat would classify him as an expertin the design, construction and op-eration of environmentally friendlybuildings.
Engineers and architects havetaken the two-hour test, devised bythe U.S. Green Building Council,for years. Now brokers, lawyers andmarketing executives are also seek-ing accreditation as environmentalaficionados to help win business.Some companies offer trainingcourses and reimbursement as an
incentive.“If my competition isn’t certified,
they can’t really advise clients [aboutgreen projects],” says Mr. Benedict,a broker at UGL Equis.
Standard rating systemthe council is the nonprofit or-ganization that created the nation-ally accepted rating system knownas Leadership in Energy and Envi-ronmental Design,which measuresa building’s sustainability. Its testmeasures an individual’s under-standing of LEED practices and
requirements.Some experts don’t think accred-
itation is always necessary. JohnSeitz, a principal of architecturalfirm HOK, says that he doesn’tthink brokers need accreditationunless they want to specialize ingreen buildings.
“The LEED system is for peoplewho put the building together,” saysMr. Seitz.
However, Sally Wilson, CBRichard Ellis Inc.’s global directorof environmental strategy, says herLEED accreditation has helped
her win five brokerage assign-ments, including finding greenspace in New York City for formervice president Al Gore’s invest-ment firm.
CBRE offers free courses toemployees interested in taking thetest and makes information avail-able on its Web site.
Ms. Wilson says a LEED-accredited broker can locate build-ings that could be efficiently up-graded to meet environmental stan-dards. The broker can also helpcalculate the cost so it can be includ-ed in negotiations with landlords.
Attorney Sean Dwyer says he’sbeen studying for the accreditationtest because the environmentalstandards could lead to new types oflitigation. He foresees disputes overwhether new buildings actuallymeet the environmental codes andwho is responsible if they do not.
“If I know the code, I can antici-pate consequences of the code,” saysMr. Dwyer, a partner at HavkinsRosenfeld Ritzert & Varriale.While designing a green home, ar-chitect Lizbeth Thalheimer hiredMr. Dwyer to draw up a contract toprotect her if the construction does-n’t measure up to her plans.
Feeling of security“there is so much litigation ofeverything these days, and I feelmore secure with people withknowledge of a situation,” she says.
Engineering and architecturalexecutives say that having an ac-credited marketing staff signals afirm’s commitment to green de-sign.
AKF Engineers’ director ofmarketing, Patricia Grew, saysLEED knowledge helps her as shecreates the company’s materials. “Ican’t run to one of the partnersevery time I have a question [aboutLEED],” she says.
Kristen Sibilia, director of mar-keting and communications at Fx-Fowle Architects, says her accredi-tation allows her to have moresophisticated client conversations,where she points out the costs andother factors involved in greendesign.
Her accreditation is noted on herbusiness cards, and she says peoplenotice. “I think it commands re-spect,” says Ms. Sibilia.
Real estate pros go green to win jobsGet accreditation to advise clients on building projects;lawyers see litigation
16 | Crain’s New York Business | October 1, 2007
FAST FACTSTo earn LEED certification, a buildingmust meet benchmarks and prereq-uisites in five key areas:
Water savings
Energy efficiency
Material selection
Indoor environmental quality
Sustainable site development
The four classifications of LEED buildings are:
Certified
Silver
Gold
Platinum
CNYB 10-01-07 regular book 16 9/27/2007 4:32 PM Page 1
POWER 25Crain’s first rankingof the 25 New Yorkwomen who wield
the most cloutPAGE W6
JEAN AFTERMAN
ELLEN ALEMANY
DEBRA ALLEE
SHARON ALLEN
SONIA ATTKISS
LIDIA BASTIANICH
ELEANOR BAUM
CANDACE BEINECKE
STEPHANIE BELL-ROSE
ROSEMARY BERKERY
SHEILA BIRNBAUM
CATHLEEN BLACK
JO IVEY BOUFFORD
THIA BREEN
PAMELA BRIER
MARY SCHMIDT CAMPBELL
PATRICIA CLOHERTY
FAITH HOPE CONSOLO
NANCY COYNE
ELAINE CROCKER
ZOE CRUZ
JENNIFER CUNNINGHAM
LESLEE DART
JULIE HEMBROCK DAUM
KAREN DAVIS
VISHAKHA DESAI
LAURA DESMOND
ELIZABETH DILLER
MARY CALLAHAN ERDOES
KATHERINE FARLEY
MICHELLE FELMAN
JANE FRIEDMAN
SUSAN FUHRMAN
BONNIE FULLER
ELLEN FUTTER
BARBARA GALLAY
GLADYS GEORGE
MARY GERZEMA
JULIE GILHART
MARYANNE GILMARTIN
THELMA GOLDEN
MARIAN GOODMAN
STEFANI GREENFIELD
JULIE GREENWALD
VERONICA HACKETT
BONNIE HAMMER
DOTTIE HERMAN
CHUNG-WHA HONG
KAREN BROOKS HOPKINS
JUDITH JAMISON
ANDREA JUNG
SURI KASIRER
SALLIE KRAWCHECK
KAY KRILL
EVELYN LAUDER
SHELLY LAZARUS
BERTHA LEWIS
PAMELA LIEBMAN
ANITA LO
SUSAN LYNE
ELIZABETH MCCANN
MARY JANE MCCARTNEY
JUDY MCGRATH
HEIDI MILLER
ANN MOORE
LIZ NEUMARK
BRIDGET O’CONNOR
NANCY PERETSMAN
LISA PHILLIPS
VIKKI PRYOR
JENNIFER RAAB
EMILY RAFFERTY
CAROL RAPHAEL
ABBE RAVEN
RACHAEL RAY
JACQUELINE RESES
SYLVIA RHONE
JULIE RICHARDSON
JANET ROBINSON
JUDITH RODIN
ROSSANA ROSADO
JANE ROSENTHAL
DARYL ROTH
FAIZA SAEED
DIANE SCHUENEMAN
KIMORA LEE SIMMONS
DARCY STACOM
TARA STACOM
MARILYN JORDAN TAYLOR
MARY ANN TIGHE
DOREEN TOBEN
DIANE VON FURSTENBERG
LAURA WALKER
LISA WEBER
RANDI WEINGARTEN
SUSAN WHITING
ANNA WINTOUR
DEBORAH WRIGHT
KATHRYN WYLDE
NINA ZAGAT
100MostInfluentialWomen in NYC
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October 1, 2007 | Crain’s New York Business | W3
BY MIRIAM KREININ SOUCCAR
when marian goodman earned her master’sdegree in art history in the 1960s, it was near-ly impossible for a woman to get a job as a mu-seum curator. So she found another way tobreak into the clubby and male-dominated artscene: She started an art printing business.
Ms. Goodman is now one of the most in-fluential contemporary-art dealers in theworld, and women fill the ranks of curatorialdepartments at New York City’s major muse-ums. High-profile directors like Lisa Phillipsof the New Museum of Contemporary Artand Thelma Golden of the Studio Museum inHarlem—not to mention Emily Rafferty, thefirst female president of the MetropolitanMuseum of Art—are ample evidence of howfar women have come in the art industry.
And their successes extend far beyond thearts. Finance, real estate, media, professionalservices … name the business sector; womenfill high-ranking executive posts there. Crain’sspecial section identifying the 100 most influ-ential women in New York City businesshighlights the inroads that womenhave made into all segments of thelocal business community.
Big names in bankingwomen have been climbing theranks on Wall Street for a while,butnever before have so many filledmajor management positions at thetop investment banks. Just think ofRosemary Berkery, vice chairmanand general counsel at MerrillLynch; Zoe Cruz, co-president ofMorgan Stanley; and Sallie Kraw-check, chief executive of CitigroupGlobal Wealth Management.
Women’s entrée into the biggest boys’ clubof all—sports—represents an even greater step
forward. Jean Afterman, who joined the Yan-kees in 2001 as assistant general manager, isone of only three female assistant GMs ever inMajor League Baseball.Ms.Afterman,whosecontract expires at the end of this year, is nowa top candidate to become the first female GM.
“You get very comfortable being in one place,but I’m not done yet,” she says.
Climbing the corporate ladderhas not come easy for many of ourpower brokers. Many women haveachieved success by working near-ly around the clock. Kimora LeeSimmons,creative director of BabyPhat, is under so much pressure toget everything done that she sleepsonly four hours a night.
“I’m the example for young wom-en on the go,” Ms. Simmons says.
Star architect Elizabeth Diller,who is designing the $1 billion ren-ovation of Lincoln Center, beginswork at 4 a.m. But for her, the dif-
ferences between day and night, and between
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110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENN
Breaking down barriersthroughout business worldWomen climb ladder in the arts, finance, sports;willing to shift gears, workall night to pursue passionComing up with the list of
the 100 most influentialwomen in New Yorkbusiness was extremelydifficult because there are
hundreds of women here who are smart,successful, accomplished and driven. Sohow do these women distinguishthemselves from the others?
They represent the fabric of NewYork, a vibrant array of industries thatmake our city unique and full of
opportunity.Theyhave risen throughthe ranks of largepublic companiesand started theirown businesses.They managenonprofits and runprivate firms.Theyare iconic movers
and shakers who are helping to shapethe trends in their marketplace. Andlastly, they understand the meaning oftrade-offs: Having kids? Not havingkids? Canceling vacations, or not evenplanning a vacation?
But what strikes me is that theyrecognize the extraordinary importanceof managing expectations and settingrealistic goals.They have chosen pathsthat have provided them with self-fulfillment in whatever way they havedefined it.
We salute our 100 women for what they have achieved, the gifts that they have given back to New York and the role models they are for the next generation of women and young girls.
Crain’s pickswomen whostand for NY
Publisher’s note
100INFLUENTIAL
WOMENWant to
know howwe picked
them?See readers’
guide Page W4
Sincerely,
Jill KaplanPublisher
THOUSANDS OF WOMEN AT YOUR SERVICEWorkforce estimates for the 10 industries in New York City that employ the largest numbers of women.
PERCENTAGE PERCENTAGEOF INDUSTRY OF TOTAL MEDIAN
INDUSTRY NUMBER WORKFORCE WORKFORCE EARNINGS
Education, health care, social assistance 425,947 71.4% 16.6% $36,351
Figures are from 2006. *Excluding public administration.source: u.s. census bureau
TINY NICHE AT THE TOPGender breakdown of CEOs of New YorkCity-based Fortune 1000 companies.
NUMBER OF FEMALE CEOs
NUMBER OFMALE CEOs
1 ANDREA JUNG Avon Products (#283 on Fortune 1000)
2 JANET ROBINSON The New York Times Co. (#583)
3 KAY KRILL Ann Taylor Stores (#783)
Based on the 2007 Fortune 1000 list.sources: cnnmoney.com, catalyst
68
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W4 | Crain’s New York Business | October 1, 2007
her work and her home life, areblurred: Her husband, Ric Scofidio,is her business partner.
“I don’t distinguish the differ-ence between work and play,” Ms.Diller says. “My husband and I arevery obsessed with our work,and it’scontiguous with our personal lives.”
Babies on boarda surprising number of womenare working hard with young chil-dren in tow. Jane Friedman, chiefexecutive of HarperCollins, has in-terrupted meetings with boss Ru-pert Murdoch to take a call from oneof her four kids. Mary Callahan Er-does, chief executive of J.P. MorganPrivate Bank,has three children un-der age 5. Gone are the days whenwomen felt they needed to choosebetween a family and a high-pow-ered career.
“When I come in on weekends,the kids come with me,”Ms.Erdoessays.“They get the conference room,and I get the office.”
While the women in Crain’sgroup of 100 all have drive anddetermination, many executivesswitched course before finally find-
ing their niche. A large numberstarted out as lawyers before switch-ing gears, among them Ellen Futter,president of the American Museumof Natural History; Stephanie Bell-Rose, president of the GoldmanSachs Foundation; and Vikki Pryor,chief executive of SBLI Mutual LifeInsurance.
Others made more unusualshifts. Liz Neumark, founder ofGreat Performances—the fourth-largest independent catering com-
panies in the country—originallywanted to work as a photographer.She started the catering firm as aside business to make ends meet.
Julie Gilhart, fashion director atBarneys New York, dropped out ofcollege when she was 20 to becomea buyer at Neiman Marcus. She hasnever regretted it.
“My whole life is about discov-ery,” Ms. Gilhart says. “If I lived to200, I still wouldn’t get to do every-thing I want to.” �
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENN
Breaking down the barriersContinued from Page W3
A READERS’ GUIDEHOW DID CRAIN’S DEFINE INFLUENCE? In short: impact that resonates. It isillustrated in a woman’s professional biography and in her list of accom-plishments. In some cases, it is revealed by the trends she sets. As wemade our evaluations, we asked a range of questions: How many peopledoes the individual supervise? How much revenue does she generate?
We defined business broadly, in keeping with the Crain’s mission. Electedofficials and women working in government jobs were excluded. We didn’timpose any age criteria. The final list features a number of women in their 50sand 60s, because it generally takes time to build a portfolio of power.
Finally, while we chose 12 individuals to highlight in longer profiles, wepresented all 100 in alphabetical order—primarily to make the section easy toread. But we also wanted to identify a subgroup of women who we believehave the most clout. Thus, for the first time, we bring you Crain’s “Power 25,”on Page W6.
DISPARITIES IN THE BOARDROOM
NO. OF % OFDIRECTORS DIRECTORS
WHO ARE WHO ARECOMPANY FEMALE/TOTAL FEMALE
Estée Lauder 5/12 41.7%
Avon Products 4/10 40.0%
Merrill Lynch 4/11 36.4%
CIT Group 3/10 30.0%
KeySpan* 3/10 30.0%
Barnes & Noble 3/11 27.3%
Bristol-Myers Squibb 2/9 22.2%
MetLife 3/14 21.4%
Colgate-Palmolive 2/10 20.0%
Liz Claiborne 2/10 20.0%
Loews 2/10 20.0%
Alcoa 2/11 18.2%
Consolidated Edison 2/11 18.2%
Dover 2/11 18.2%
Marsh & McLennan 2/11 18.2%
Omnicom Group 2/11 18.2%
Viacom 2/11 18.2%
Assurant 2/12 16.7%
Foot Locker 2/12 16.7%
Goldman Sachs Group 2/12 16.7%
Hess 2/12 16.7%
J.P. Morgan Chase 2/12 16.7%
McGraw-Hill 2/12 16.7%
Morgan Stanley 2/12 16.7%
NO. OF % OFDIRECTORS DIRECTORS
WHO ARE WHO ARECOMPANY FEMALE/TOTAL FEMALE
New York Life Insurance 2/12 16.7%
TIAA-CREF 1/6 16.7%
Time Warner 2/13 15.4%
American Express 2/14 14.3%
CBS 2/14 14.3%
Citigroup 2/14 14.3%
Verizon Communications 2/15 13.3%
Guardian Life Insurance 2/16 12.5%
AIG 2/17 11.8%
Bank of New York Mellon 2/18 11.1%
Interpublic Group 1/9 11.1%
Jones Apparel Group 1/9 11.1%
Lehman Brothers 1/10 10.0%
Altria Group 1/11 9.1%
Asbury Automotive Group 1/11 9.1%
IAC/InterActiveCorp 1/12 8.3%
Pfizer 1/12 8.3%
L-3 Communications 0/9 0.0%
Virgin Media 0/9 0.0%
Bear Stearns 0/13 0.0%
News Corp. 0/15 0.0%
Based on the 2007 Fortune 500 list. *KeySpanwas acquired by National Grid in August.Sources: Company Web sites, as of July 17
Gender breakdown of boards of NYC-based Fortune 500 companies.
CNYB 10-01-07 A 4 9/26/2007 4:40 PM Page 1
PRUDENTIAL DOUGLAS ELLIMANPRUDENTIAL DOUGLAS ELLIMANCONGRATULATES
CRAIN’S TOP 100 MOST INFLUENTIAL BUSINESSWOMENIN NEW YORK
ESPECIALLY OUR OWNESPECIALLY OUR OWNDOTTIE HERMANDOTTIE HERMAN,PRESIDENT AND CEOPRESIDENT AND CEOANDAND FAITH HOPE CONSOLOFAITH HOPE CONSOLO,, CHAIRMAN, RETAIL GROUPCHAIRMAN, RETAIL GROUP
Project12 9/19/07 3:15 PM Page 1
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W6 | Crain’s New York Business | October 1, 2007
Power25The New York City women who wield the most clout
NAME COMPANY CLOUT FACTOR PAGE
1 ZOE CRUZ Morgan Stanley Survived management upheaval and set revenue records W12
2 ANDREA JUNG Avon Products Grew sales 70% to $9 billion in eight years W20
3 CATHLEEN BLACK Hearst Magazines The voice of the magazine business in a digital age W10
4 MARY ANN TIGHE CB Richard Ellis Heads real estate giant with $36.8 billion in transactions W29
5 SALLIE KRAWCHECK Citigroup Global Wealth Management Runs a unit with $1.4 trillion in client assets W20
6 SHELLY LAZARUS Ogilvy & Mather Worldwide Oversees 10,000 employees in 377 offices across 97 countries W21
7 JUDY MCGRATH MTV Networks Established MTV as a mainstream platform for political activism W23
8 HEIDI MILLER J.P. Morgan Chase Runs a unit with $9 billion in revenues and $15.2 trillion in assets W23
9 ANNA WINTOUR Vogue Her opinion makes or breaks a designer’s career W29
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WIELDINGBANKING’SSCEPTEREllen AlemanyRoyal Bank of Scotland America
Ellen alemany earned herstripes in the business worldearly on, helping out at her
father’s liquor store on ArthurAvenue in the Bronx and laterworking summers as a marketer for atennis camp. She went on to finishcollege in three years and then helddown a job at IBM while earning herM.B.A. at night.
That work ethic—along withabundant talent—has made her oneof the most seniorwomen in bankingin the country.This past spring,Ms. Alemany tookover as chief
executive of Royal Bank ofScotland’s U.S. operations andsubsidiaries, a multifaceted group ofbusinesses employing 27,000 people,generating $4 billion in revenues and holding a total of $150 billion in deposits. Those combineddeposits would make RBS’s businesshere the sixth-largest banking oper-ation in the country. Ms. Alemany’sjob: to integrate the diversebusinesses and take advantage of growth opportunities in theUnited States.
It’s the kind of challenge that sheloves. Before joining RBS, sheworked at Chase Manhattan Bankand then did a 20-year stint at
Citibank, where she ran businesseson both the corporate and consumersides. “What excites me and givesme personal fulfillment is the abilityto lead change, to run a businessfrom the front end to the back end,”says 51-year-old Ms. Alemany.
—judith messina
CONSULTANTIS QUEENOF EISDebra AlleeAKRF
As founder of one of thecountry’s first environmentalimpact firms, Debra Allee has
been making or breaking major realestate developments for two decades.
Ms. Allee, 68, and three othersstarted Allee King Rosen & Flemingin 1981. The consultancy, now calledAKRF Inc., plays an important, andoften controversial, role in the city’sreal estate scene. It prepares
environmentalimpact statements,which detail theprobable effect ofdevelopmentprojects. She hasbuilt the firm,which also
provides transportation planningand green design services, into apowerhouse with 1,000 clients, morethan 2,000 projects and a staff of240.
Her development work spans theisland of Manhattan—from theHudson Yards rezoning to
downtown redevelopment. She hasalso prepared impact statements forthe Second Avenue Subway,Columbia University’s newManhattanville campus, and the No.7 subway line extension.
Though the environmentalreview process often puts Ms. Alleeand her company under themicroscope, it is her job to remaindispassionate. “I’m a defender of theprocess,” she says. “It’s what we have,and it keeps us thinking.”
—adrianne pasquarelli
ACCOUNTING AUTHORITYSharon AllenDeloitte & Touche
Sharon allen became chair ofaccounting and consultinggiant Deloitte & Touche in
2003. It was a low point for theindustry: The Enron debacle and thedemise of Arthur Andersen had castsuspicion on all of the big firms.
Deloitte was facing intensepressure, and Ms. Allen tookdecisive action. She fostered thefirm’s consulting operations whilerivals were spinning off suchbusinesses. She got the 37,000
people workingunder her to buy inby pushingdissenters toarticulate and hashout their views. “Icame to theconclusion that
you can’t make the really hard
decisions without help fromeveryone you work with,” says Ms.Allen, 56.
Her strategy worked. Annualrevenues jumped more than 27%over the three years ended in 2006,while manpower has grown 26%.She was recently elected to a secondfour-year term as leader of the firm.
Now Ms. Allen uses her positionto aggressively push majorcorporations to hire more minoritiesand more women. She alsoparticipates in two high-poweredgroups: the Women’s LeadershipBoard at Harvard University’s JohnF. Kennedy School of Government,and the President’s Export Council.
In 1997, Sonia Attkiss was afledgling financial adviser tryingto build a client base from
scratch. She went looking where themoney was: among the growingranks of technology entrepreneurs.
The strategy paid off. Today, as adirector at Credit Suisse PrivateBanking, Ms. Attkiss leads a team ofbankers managing $2.8 billion inassets for more than 100 wealthyindividuals and families.
She is known for her client-centered approach: A few yearsago, when two clients sold their
company, it wasMs. Attkiss—notthe bankers whostructured thedeal—who found away for them tosave tens ofmillions of dollars.
“We don’t accept ‘no’ as an answer,”she says. “We always look to uncoverways to get things done.”
Ms. Attkiss, 41, grew up in a smalltown in Alberta, Canada, where sheplayed varsity basketball and softball,
ran track and swam com-petitively. After grad-
uating from HarvardUniversity, sheworked in Ottawa fora member of Parlia-
ment and thenspent five yearsin advertising.Hungry to dosomethingentrepre-neurial, sheearned an
M.B.A. andentered the
training pro-gram at Don-aldson Lufkin &Jenrette, whichwas acquired byCredit Suisse in2000.
In a complexinvestingenvironment,“Sonia’s real skill isputting all of it in
perspective,” says Dale Miller, herformer boss and amanaging director atCredit Suisse.
—judith messina
W8 | Crain’s New York Business | October 1, 2007
Hideki Matsui’sgrand slam inhis first game atYankee Stadi-um in 2003marked the ar-rival of two new
stars: Mr. Matsui, a Japanese powerhitter, and Jean Afterman, the base-ball executive who brought him tothe Bronx.
Ms. Afterman, 50, is one of themost influential people in theexecutive suite of the world’sbest-known sports fran-chise. She joined the Yan-kees in 2001 and, as assis-tant general manager, hasbeen at the forefront of theteam’s international brandexpansion. Helping to persuadeMr.Matsui to sign with the Yankeesis her biggest accomplishment.
“She did a phenomenal job with
Matsui, and Matsui means so muchto the Yankees,”says Kim Ng,whomMs. Afterman succeeded when Ms.Ng left to take the same job with theLos Angeles Dodgers.
Ms. Ng knows the pressure Ms.Afterman is under. None of MajorLeague Baseball’s 30 teams has a fe-male general manager, and onlythree women—Ms. Afterman, Ms.Ng and Elaine Steward of the RedSox—have made it to assistant GM.
Ms. Afterman, unassuming andfunny, fixes coffee at her stadium of-fice, thanking the microwave for itsservice on many late nights. She and
Mr.Matsui have been known tofondly call each other a
Japanese slang term thattranslates loosely as “littleasshole.”
Her charm masks afearsome negotiating tal-
ent. “She is as tough as theycome and one of the smartest
people I know,” says General Man-ager Brian Cashman.
Bridging cultural gaps is natural
to Ms. Afterman, whose grandfa-ther, a Russian immigrant, was afruit peddler. She taught English asa second language before a brief stintin the movie business and becominga lawyer.
She went to work for agent DonNomura, representing Japaneseplayers who were barred fromAmerican ball by a 1967 agreementbetween the Japanese and Americanleagues. She and Mr. Nomura used
loopholes in the pact to help players,including Hideo Nomo and HidekiIrabu, get major-league contracts.
“It wasn’t just baseball,” she says.“It was human rights and baseball.”
Short-listedms. afterman’s Yankees contractexpires at year-end. Her future withthe team may depend on whether itends its seven-year championshipdrought. She concedes that, in time,
being an assistant general managerwon’t be enough, and no doubt she’sa leading candidate to become base-ball’s first female general manager.
“The question is not whether shecan do it,” says Wayne McDonnell,clinical assistant professor at NewYork University’s Center for Hospi-tality,Tourism and Sports Manage-ment. “It’s whether someone givesher the chance.”
—elizabeth macbride
Major-leaguenegotiator eyesa GM positionJean AftermanNew York Yankees
MILES FLOWNround-trip to Asia
every year
75,000
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENNJean Afterman Ellen Alemany Debra Allee Sharon Allen Sonia Attkiss
POWER 25
“You can’tmake thehard decisionswithout help fromeveryone
you workwith”—SharonAllen
buck
enn
is
CNYB 10-01-07 A 8 9/26/2007 1:40 PM Page 1
CHEF LIGHTS FIRE UNDER MILLIONSLidia BastianichLidia’s Italy
Lidia bastianich didn’t startout in the kitchen; in fact, shestudied medicine in college.
She was introduced to professionalcooking when her family opened itsfirst restaurant in 1971, and she hassince become New York’s doyenneof Italian cuisine.
Despite her lack of formaltraining, she hascreated a culinaryempireencompassing sixrestaurants, fivecookbooks, fourTV shows—including the
public-television series Lidia’sItaly—two wineries, a line of pastasauces and a travel company.
Ms. Bastianich, 60, is inspiringmillions of people to cook. The keyto her success, she says, is simple:She promotes cooking as acollaborative act of affection amongfamily members. “My style does notreflect any rigid culinary school,”she says. “It reflects home cooking.”
Her professional passions arenot limited to the kitchen. An
immigrant from Istria, a formerregion of Italy now also shared byCroatia and Slovenia, Ms.Bastianich came to the UnitedStates in 1958 with help fromCatholic Charities. She gives backby contributing time and money tothe U.N. Development Fund forWomen.
She is also a founder of theInternational Association ofWomen Chefs and Restaurateurs,which helps women who want toenter the field. “Opportunity is veryimportant to me,” Ms. Bastianichsays. “The culinary industry hasbeen very hard for women,especially financially.”
—tommy fernandez
DEFYINGRECEIVEDWISDOMEleanor BaumCooper Union Engineering School
When eleanor baum wasin high school in the1950s, guidance
counselors told her that womencouldn’t grow up to be engineers.Her mother warned that no manwould marry an engineer. Dr.Baum paid no attention.
After a brief stint in theaerospace industry, she taught at
Pratt Institute,becoming dean ofits engineeringschool in 1985—the nation’s firstfemale engineeringdean. Dr. Baumwas named dean of
Cooper Union’s engineering schoolin 1997, and female enrollment hasrisen to 30% from 3% since then.
“We knew we were successfulwhen women no longer needed tobe the smartest ones in the class,”she says.
Dr. Baum, 67, serves as executivedirector of the Cooper UnionResearch Foundation, a nonprofit
corporation that sponsors researchprojects in the engineering school.She is also on the boards ofAllegheny Power System Inc. andthe New York Building Congress.
She proved her guidancecounselors wrong in a number ofways. Dr. Baum has had anoutstanding career and is married toa physicist, Paul Baum, a professorat Cooper Union.
—tina traster
BALANCINGACT AT TOPLAW FIRMCandace BeineckeHughes Hubbard & Reed
Long before CandaceBeinecke became chair ofHughes Hubbard & Reed,
her mother knewthat she’dbecome alawyer:She arguedtoo much as
a kid.Ms. Beinecke, 60,
was a pioneer in herfield. She was a corporatelawyer during the 1970s,
a time when clientsthought nothing of dropping
a firm that put “girls” on their
legal teams. Shewas appointedchair of HughesHubbard in1999, makingher the firstfemale chair of amajor New York
law firm.Throughout her career, she has
earned respect from combative andsometimes outright sexist malelawyers, while maintaining herfirm’s independence in an era ofconsolidation. It’s been a balancingact.
“I think my greatest skill is beingable to do tough things withoutbreaking a lot of glass,” she says.
During Ms. Beinecke’s tenure,Hughes Hubbard has rankedamong the top law firms in thecountry for its corporate practicesand diversity hiring, while profitsper partner have increased 19% eachyear on average.
Ms. Beinecke also serves on anumber of boards. She’s chairmanof $35 billion investment fund FirstEagle Funds, a director oftransportation and energy firmAlstom and a vice chair of thePartnership for New York City.
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“We knewwe weresuccessful whenwomen no longerneeded to be thesmartest ones in the class”
Rosemary berkery has abroader mandate than thetypical general counsel. She
not only runs all of Merrill Lynch &Co.’s legal and complianceoperations; she also oversees globalresearch and represents Merrill indealings with numerous
A trustedadviser to ChiefExecutive StanleyO’Neal, Ms.
Berkery was elevated to vice chair inJuly, expanding her influence.“Rosemary’s been instrumental indriving growth and new businessopportunities for the firm,” says Mr.O’Neal.
A Long Island native, Ms.Berkery, 54, took the law boards as alark and won a full scholarship to St.John’s University. She is “one of thefew people who actually liked lawschool,” she says.
After graduation, she spent fiveyears at Shearman & Sterling; shethen joined Merrill in 1983. She hasheld numerous positions over theyears, from associate general counselto head of securities research to chiefof private client marketing. Recently,
as Merrill has sought to expand, shehas played a key role in identifyingpartnerships and acquisition targets,negotiating deals and integratingnew businesses.
—judith messina
QUIETLY TOPS IN TORTSSheila BirnbaumSkadden Arps Slate Meagher & Flom
Sheila birnbaum has beencalled “the queen of torts,” andshe has earned the title. As the
partner in charge of the complexmass tort and insurance group atSkadden Arps Slate Meagher &Flom, Ms. Birnbaum has battled inmany of the most significant classactions of the past 30 years.
In 2003, she convinced the U.S.Supreme Court to reverse a$145 million punitive-damages
award againstState Farm Mu-tual AutomobileInsurance Co. asunconstitutionallyexcessive. Inanother SupremeCourt case, in
1997, she successfully defendedMetro-North Commuter Railroadagainst an asbestos lawsuit. Otherclients have included Dow Corning,Anheuser-Busch, Copley Pharma-ceutical and American Stores.
In a field notorious for its in-your-face personalities, 67-year-old Ms. Birnbaum is known forher quiet, pedagogical style.Before entering private practice,she spent more than a decade as alaw professor at FordhamUniversity and at New YorkUniversity, where she also served asan associate dean.
“I try to listen hard to people andhelp them resolve their issues,” shesays, speaking of her style ofmanaging the 75 attorneys in herdivision. “I prefer being a problemsolver, rather than one who createsmore problems.”
—tommy fernandez
A CAREEROF FIRSTSCathleen BlackHearst Magazines
As president of one of theworld’s largest magazinepublishers, Cathleen Black
makes decisions that touch the livesof millions.
In her 12 years at HearstMagazines, Ms. Black has turnedthe $7 billion company into a leanand formidable operation, whileushering venerable brands—fromCosmopolitan to Good Housekeepingto Esquire—into the online era. Shehas pushed into global markets andoversees 200 international editions.
Ms. Black, 63, a board memberof the Magazine Publishers of
America, is anindustry championand has become asymbol of women’srise in corporateAmerica. Shehelped launch Ms.,was the first
woman publisher at aweekly consumermagazine—NewYork—and servedas the firstpublisher of USAToday. Ms.Black sits onthe boards ofInterna-tionalBusinessMachinesand Coca-Cola.
Herinfluence is aboutto grow furtherwith the publicationthis fall of her book,Basic Black, which isaimed at giving otherwomen the keys to hersuccess.
—elizabethmacbride
HEALTHFOR NYCAND BEYONDJo Ivey BouffordNew York Academy of Medicine
Her appointment inFebruary as president of theNew York Academy of
Medicine caps Jo Ivey Boufford’sextraordinary career in health care.
She is the onlywoman to have ledthe city’s Healthand HospitalsCorp., and sheserved as a topofficial in the U.S.Department of
Health and Human Services.In her previous position as dean
of New York University’s Robert F.Wagner Graduate School ofPublic Service, she helped shapethe careers of thousands. She nowleads the nation’s most respectedurban health center. The 160-year-old academy, which has abudget of $23 million, has a broadmandate that ranges fromconducting groundbreaking
research on HIV to holding healthclasses for more than 500,000 publicschool students.
Dr. Boufford, 62, hopes to createmore of a platform for policyrecommendations. “If you dosomething well in this city, itbecomes a model for the nation andthe world,” she says.
—elizabeth macbride
Stephanie bell-rosegrew up in poor neigh-borhoods in Brooklynand on Long Island.Butthat didn’t stop her fromhelping others. Shestarted volunteering at
age 14, working summers at a daycare center and a nursing home.
“Both of my parents were com-mitted to service for the improve-ment of the lives of others,” she says.“That was a part of our family ethos,and I absorbed it from my earliestdays.”
And when she earned a scholar-ship to Harvard University, Ms.Bell-Rose never hesitated about hercareer choice: public service. Today,as the founding president of theGoldman Sachs Foundation, the49-year-old Harvard Law Schoolgraduate controls $200 million inassets—putting her at the helm ofthe largest philanthropy on WallStreet.
In eight years at the foundation,Ms. Bell-Rose has focused on onemajor issue: helping bright kidsfrom disadvantaged backgrounds
reach their potential.The foundation’s signature ini-
tiative aims to nurture middle-school students who have potentialfor academic success but few re-sources and no mentors. It hasserved more than 1,200 kids, manyof whom went on to top-tier uni-versities.
Ms. Bell-Rose has also workedhard to assure that her efforts aremaking a difference. Shewas one of the first foun-dation executives to hireoutside experts to gaugethe results of the organi-zation’s charitable activ-ities—an idea that hassince gained wide acceptanceamong nonprofits.
‘A visionary leader’“stephanie is a visionary leaderamong foundation presidents,” saysRonna Brown, president of theNew York Regional Association ofGrantmakers. “Goldman is one ofthe corporations that is very strate-gic in its giving and measuring theeffectiveness of its grantees’ pro-grams.”
In her previous job as counseland program officer for public af-fairs at the Mellon Foundation,
Ms. Bell-Rose spearheaded a newarea of research into SAT scoresand the subsequent college prog-ress of high-achieving minoritykids.
A number of universities are con-tinuing her work in the field.
In her spare time, Ms. Bell-Roseis a member of numerous boards,including the Dean’s Council ofHarvard Law School and the
American Museum of NaturalHistory. She is a trustee of
the Barnes Foundation inPennsylvania and has beeninstrumental in helpingthe famed art institution
right itself after years of fi-nancial trouble.Much of Ms. Bell-Rose’s in-
spiration has come from her moth-er, who was widowed at age 34 andraised four children on her own. Allof them went on to Ivy Leagueschools.
Now, Ms. Bell-Rose instills inher three sons the same valueslearned from her family. She alsouses her children as soundingboards when reviewing which proj-ects to fund.
“My kids are the best proposalreaders around,” she says.
—miriam kreinin souccar
Foundation leader directsfunds to deserving studentsStephanie Bell-RoseGoldman Sachs Foundation
ANNUAL TOTALgiven by Goldman Sachs Foundation
buck
enn
is
$20M
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENNStephanie Bell-Rose Rosemary Berkery Sheila Birnbaum Cathleen Black Jo Ivey Boufford
W10 | Crain’s New York Business | October 1, 2007
“My kids arethe best proposalreaders around”—StephanieBell-Rose
POWER 25
POWER 25
CNYB 10-01-07 A 10 9/26/2007 1:50 PM Page 1
HOT ON THE SCENT OF EXPANSIONThia BreenEstée Lauder
Thia breen’s impressivecareer in cosmetics startedhumbly. Her first job as a
teenager in Benson, Minn., wasselling Bonne Bell makeup at herparents’ small-town drugstore. Thatearly experience stuck with Ms.Breen, now the president of EstéeLauder Worldwide.
“The only thing that reallymatters is customers coming to thebeauty counter,” she says. “If
Ms. Breen, 57,has spent most ofher careerpromoting and
developing Estée Lauder’s brands.She started with the company in1977 as an account executive forClinique.
As she climbed the ladder, Ms.Breen managed the Aramis andOrigins brands, and later helpedmake Clinique the top cosmeticsbrand in U.S. department stores.Today, she focuses her energy onincreasing The Estée Lauder Cos.’global business, which spans 130countries and territories. Last year,the parent company reported$7 billion in sales.
Although she’s come a longway from hawking Bonne Bell inher hometown, Ms. Breen takesher success in stride. “I just add afew zeros to the orders these days,”she says.
—elisabeth butler
RESULTSTHAT ARE OFFTHE CHARTSPamela BrierMaimonides Medical Center
Maimonides MedicalCenter in Brooklyn wasalready on its way to
becoming a standout communityhospital when Pamela Brier becamechief executive in 2003. She tookthe institution to the next level.This year, a survey by HealthGradesnamed Maimonides the state’s besthospital for cardiology and
pulmonary careand ranked it inthe top 5%nationwide forstroke care,cardiology andcritical care.
Maimonides isalso the state’s busiest maternitycenter—the site of 6,709 births lastyear. In fact, although other com-munity hospitals see obstetrics as amoney-loser, Ms. Brier predictedthat good maternity care wouldincrease patient loyalty and bring innew business. So she spruced up thebirthing rooms and hired morestaff.
Fifteen years in New York City’smunicipal hospital system armed Ms.Brier, 62, with sharp executive andpolitical skills. “She’s indefatigable,
and she’s got specialwarmth,” sayslongtime health carelobbyist MaureenConnelly.
Ms. Brier’s role atMaimonides, whichserves many low-income families, al-lows her to make herpresence felt in thecommunity. “Eventhough I’m notworking for gov-ernment anymore,I still feel that I’ma public servant,”she says.—gale scott
PIED PIPERFOR ARTISTSIN TRAININGMary Schmidt CampbellTisch School of the Arts,
New York University
The number ofapplications forthe Tisch School
of the Arts has grownthreefold since Mary
SchmidtCampbell becameits dean in 1991.That’s how itshould be, becauseMs. Campbellbelieves there’s nogreater mission
than seeding the careers of youngpeople who are ready to learn.
“We want students to comehere, whether or not they can affordto,” she says. To that end, the 59-year-old art historian, authorand former museum curator hasraised funds to pay for 30 highschool students to attend an annualsummer program at Tisch. And theschool’s 2006 gala raised $1 million
for undergraduate scholarships.The dean led a $50 million
campaign for capital improvementsto the school’s Maurice KanbarInstitute of Film & Television andfor renovations to the Institute forPerforming Arts. Ms. Campbell wasrecently nominated to the board ofthe New York State Council on theArts, a position that will let herfoster the arts beyond NYU.
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“Ifsomeonegets greatservice,that’s the reflection of the brand”— Thia Breen
CNYB 10-01-07 A 11 9/26/2007 1:52 PM Page 1
Patricia clohertyis used to takingrisks. In the 1960s,asone of the firstapplicants to thenewly formed PeaceCorps, she ended up
being the lone volunteer in a remoteoutpost in Brazil where womenweren’t even allowed to drive.
“It was an experiment to see if awoman could work alone in centralBrazil,”she says.“I learned flexibility.”
More recently, she has parlayedher yen for adventure into backingentrepreneurs in the Wild East ofnewly capitalist Russia. Since 1995,Ms. Cloherty has been bankrollingstartups—including finance com-panies and a chain of sandwichshops—that aim to serve the coun-try’s growing middle class.
Over the years, she doled out$330 million from the Washington-backed U.S.-Russia InvestmentFund. Now, as chief executive ofDelta Private Equity Partners, shecontrols a $120 million private in-
vestment pot targeted at the Russ-ian market.
In Russia, where corporate own-ership isn’t always clear and the ruleof law is a work in progress,Ms.Clo-herty’s involvement often goes be-yond investing. In 1998, the city ofSt. Petersburg nullified her fund’smajority position in a porcelain fac-tory and refused to compensate her.She sued and won back control.
“She doesn’t like simple chal-lenges,”says venture capital-ist Alan Patricof, a formerpartner of Ms.Cloherty’s.
Profiting on propertiesmany of her early invest-ments have paid off hand-somely.She has sold some prop-erties for as much as two to fourtimes her original investment tobuyers including Nestlé, GE Con-sumer Finance, Société Généraleand Fidelity Investments.
Ms.Cloherty,65, cut her teeth inthe VC world at Patricof & Co.Ven-tures,where she started as a researchanalyst in 1969. She was named apartner within a year; eventually, shebecame president and co-chair,alongwith founder Mr. Patricof. She
backed numerous success stories,such as chip maker Tessera and sev-eral biotech firms.Among them wasScotland’s PPL Therapeutics,whichengineered Dolly the cloned sheep.
“I like the performance orienta-tion of the venture capital business—backing early-stage companies andtrying to beat the big guys,” she says.
Ms.Cloherty later served as dep-uty administrator of the U.S. Small
Business Administration,underPresident Jimmy Carter, and
as president of the NationalVenture Capital Associa-tion.She helped launch theCommittee of 200, which
aims to stimulate entrepre-neurship among women.In 1994, President Bill Clin-
ton appointed her chair of the U.S.-Russia Investment Fund, whichmade equity investments in promis-ing Russian companies.
Even though the Russian govern-ment is continuing to play an activistrole in the economy, Ms. Cloherty isgearing up to start a third fund.
“The capitalist genie is out ofthe bottle,” she says. “It will not beheld back.”
—judith messina
A LITANY OFPIONEERINGRETAIL DEALSFaith Hope ConsoloPrudential Douglas Elliman
In her 25 years of bringingretailers to New York City, realestate broker Faith Hope
Consolo has helped transformdozens of neighborhoods fromshabby to chic or fading to on-fire. “I think every place can offersomething better,” she says.
Ms. Consolo, 58,completed 207 transactionsjust last year. Over thecourse of her career, she hashandled some of the city’smost important retail leases.She helped jump-start theFlatiron district’scommercial ascent when she
reputation as a family-friendly destination byputting Toys “R” Us into100,000 square feet there.Her clients on FifthAvenue have includedFendi, Versace andCartier.
As chairwoman ofthe retail leasing andsales division ofPrudential Douglas
Elliman Group, Ms. Consolo directs200 brokers across the country andhelps retailers with national—eveninternational—expansions. Oneexample: a 52-store, 20-city packageshe completed for Papyrus.
Ms. Consolo, whose often-seenadvertising tagline is “You need Faith,”is a relentless self-promoter. But thehype isn’t empty: She made it to thetop in a field dominated by men.
—elizabeth macbride
STAROF B’WAYADS
Nancy CoyneSerino Coyne
Anyone who’sseen a TVcommercial
for Cats or walkedpast a billboard forWicked is familiarwith Nancy Coyne’swork. In fact, Ms.Coyne has createdvirtually everyBroadwayadvertisement for the
past 30 years.Her agency, Serino
Coyne Inc.—which wasbought by giantOmnicom Group fouryears ago—has 100employees and an 80%
share of the Broadway admarket. It handles 15 of the
16 top-grossing showsand has represented justabout every Tony-winning
musical in the past three decades.When business plummeted
immediately after the Sept. 11terrorist attacks, Ms. Coyneconvinced Broadway’s fiercelycompetitive producers to bandtogether, creating the firstindustrywide ticket discountinitiative, The Season of Savings.Broadway had its best winter ever.
The 60-year-old executivecredits her successto her mother, whoworked tirelesslyto help herdaughter becomethe Shirley Temple
of their native Silver Spring, Md., aswell as first in her high school class.Ms. Coyne, now a grandmother of7-month-old twin boys who live inher building, is equally passionateabout and protective of her clients.“I feel very maternal toward myshows,” she says. “I do everything Ican for them to thrive.”
—miriam kreinin souccar
PRACTICEDTRAINEROF TRADERSElaine CrockerMoore Capital Management
Known in hedge fund circlesfor her ability to identify andnurture talented traders,
Elaine Crocker has spent more than30 years helping to launch some ofthe industry’s most skilled players.
Ms. Crocker, one of the fewwomen in the upper reaches of that
rarefied universe, is president of$13 billion Moore CapitalManagement, where she runs thecompliance, personnel, legal andfinance operations and helps findand develop portfolio managers.Ms. Crocker, 62, handles her role“with the experience born ofdealing with many talented butdifficult-to-manage traders andwith the needs of investors through
many investingcycles,” saysMoore Capitalfounder andChairman LouisBacon.
A New Jerseynative, Ms.
Crocker took a job in 1970 withfledgling trading companyCommodities Corp., eventuallyrising to the position of executivevice president. Among otherresponsibilities, she headed tradingadministration; in that role, shesought out promising traders andhelped to train them.
She once turned Mr. Bacondown for a job, telling him to go getsome experience. Later, she gavehim seed money to tradeindependently. He went on tofound Moore Capital; in 1995, hetapped Ms. Crocker to join histeam.
Zoe cruz survived thepower struggle that roiledMorgan Stanley two years
ago, which brought John Mackback to the company as chiefexecutive.
She had already proved herselfto be a formidable force on WallStreet. From 2000 to 2005, Ms.Cruz ran the investment bank’sprofitable global fixed-income,commodities and foreign exchangebusiness.
Under her leadership, 2004revenues from fixed-income salesand trading reached $5.6 billion.That record-breaking figurerepresented 14% of MorganStanley’s total revenues that year.
Now, as headof MorganStanley’s biggestbusiness—institutionalsecurities—aswell as its retailbrokerage, Ms.
Cruz is again demonstrating hermettle.
The securities operation,which includes underwriting andstock and bond sales and trading,posted record revenues in thesecond quarter; at $7.4 billion, theywere up 39% from year-earlierlevels.
Ms. Cruz, 52, joined MorganStanley’s investment bankingdivision in 1982, straight out ofHarvard Business School.
In 1990, she was named amanaging director, and from 1993to 2000, she was co-head of theforeign exchange division.Colleagues have referred to her as a“Cruz missile,” a nod to her directapproach.
—judith messina
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POWER 25
A FORCE INNY POLITICSJennifer CunninghamLobbyist
Jennifer cunningham has beencalled the most powerful unelect-ed woman in New York politics.As the former political director
for the state’s largest health careunion, 1199 Service Employees In-ternational Union, as well as the suc-cessful manager of Attorney GeneralAndrew Cuomo’s 2006 campaign,Ms. Cunningham, 45, is a rising star.
One of her first victories, in themid-1990s, was to persuade Gov.George Pataki to provide health
insurance for theworking poor, viaa program calledFamily HealthPlus. This pastyear, as a lobbyist,she convinced theLegislature to
raise home health aides’ hourly payto $10 from $5.
Ms. Cunningham’s pride inpublic service is plain, and onecould get the idea that she’s a softyfrom her friendly manner. But thatwould be wrong. When Gov. EliotSpitzer tried to cut hospital andnursing home funds last spring, Ms.Cunningham wrote the ads that
used nurses and old people to scoldthe new governor.
“It was contentious,” she says. “Itwas an odd assumption that becausethere was this new ‘tough guy,’ wewould have any other response thanto do right by health care workersand patients.”
—anne michaud
PR VETERANFOCUSES ONFILMMAKERSLeslee Dart42West
Her client roster provesLeslee Dart’s impact inthe entertainment in-
dustry.The founder and chiefexecutive of public relationsagency 42West, Ms. Dart rep-resents high-profile film-makers Wes Anderson, MikeNichols, Sydney Pollack andWoody Allen.
The 53-year-old publicistsays she started her own agencyin 2004 after she was fired frompowerhouse PMK/HBH Inc.—and took most of her clients withher. 42West, which began as thetwo-employee Dart Group andchanged its name last fall, hassince grown to 54 employees.
At a time when filming in the
Big Apple is booming, Ms. Dart hasshown that you don’t have to be onthe West Coast to be a success in
the movie busi-ness. Unlike mostof her competitors,who are based inHollywood, Ms.Dart anchors heragency in NewYork, where more
than half of her staff works. Inaddition to entertainmentmarketing, the firm provides moreunique services, like awards-
campaign counseling andcrisis planning.
In its first twoand a half years,42West’s clients havealready racked up
hundreds of Oscarnominations.
“It’s not amatter ofpulling out aPR 101notebook,” Ms.Dart explains.
“You really createa campaign foreach individualproject.” Judgingfrom the AcademyAward triumphsof recent filmsCrash and TheDeparted, it’s not abad strategy.
—adriannepasquarelli
RECRUITERPUTS WOMENON BOARDSJulie Hembrock DaumSpencer Stuart
Julie hembrock daum istackling one of the most glaringgender inequities in corporateAmerica: the lack of womenboard directors. Ms. Daum,
head of the North American board-staffing practice at Spencer Stuart,has helped place 350 women onboards since 2000.
“I once had a companyinterested in recruiting a woman,but she had to speak German and
like to go birdshooting,” saysMs. Daum. “Thatkind of thingdoesn’t happenanymore.”
Ms. Daum, 53,has worked at
Spencer Stuart for 14 years,following a career as a consultant atMcKinsey & Co. The notches onher gun include some of the world’slargest corporations. She filled theentire board of the newly publicDelta Air Lines last spring, and alsostaffs the boardrooms for AmericanExpress, Pfizer, General Mills andUnitedHealthcare, to name a few.
Each year, Ms. Daum develops theSpencer Stuart Board Index, apublication detailing trends atnational boardrooms, and is alsoresponsible for the creation of theDirectors’ Forum, a “boot camp” forfirst-time board directors, at theWharton School of the Universityof Pennsylvania.
“We see ourselves as more thanjust recruiters,” says Ms. Daum.“We see ourselves as advisers in theboardroom.”
—adrianne pasquarelli
CONSENSUS-BUILDER ONHEALTH CAREKaren DavisThe Commonwealth Fund
In the fractious field ofhealth care policy, KarenDavis, president of The Com-
monwealth Fund for 12 years,stands out as a consensus-builderwhose practical ideas are helpingstates to reform their health care
systems.A case in
point: aninfluential 2003article she co-wrote thatoutlined, amongother things, how
Jennifer Cunningham Leslee Dart Julie Hembrock Daum Karen Davis
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October 1, 2007 | Crain’s New York Business | W13
“We seeourselves asmore thanrecruiters;we’readvisers in theboardroom”—Julie
HembrockDaum
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In an industry dominatedby outsize masculine per-sonalities, being a womanhas its advantages.
“Women are extremelyintuitive,” says MichelleFelman,executive vice pres-
ident at Vornado Realty Trust. “Youunderstand other people’s motiva-tions, and you can respond to themin a way that gets both sides whatthey want.”
Ms. Felman, head of acqui-sitions for the country’s sec-ond-largest real estate in-vestment trust, combinesher intuition with theskills of a savvy and disci-plined deal-maker.Her jobis finding and valuing in-vestment properties—from of-fice buildings to shopping malls—and overseeing the often complexprocess of underwriting, negotiat-
ing and structuring their acquisi-tion. Vornado’s enterprise value hasgrown to $34 billion from $1.5 bil-lion during her decade with thecompany.
“She has very good instincts forgood deals,” says Vornado PresidentMichael Fascitelli.
Ms. Felman, 45, has engineeredsome of Vornado’s most prominenttransactions. She helped steer Vor-nado’s $2.5 billion purchase ofCharles E. Smith Commercial Re-alty,which added 14.3 million squarefeet to Vornado’s burgeoning port-folio and made the REIT the largest
She also has been in-strumental in the acquisi-tion of numerous marqueeproperties, including the
Manhattan Mall and theformer Manufacturers Han-
over Trust headquarters at 350Park Ave. The latter purchase re-established Vornado as a player inthe New York City office market af-
ter a period of reduced buying ac-tivity. A few years ago, she helpedlaunch the company’s profitablemezzanine lending business.
Behind the scenes“she’s not just a deal-doer,” saysSteven Mnuchin, co-chief execu-tive of Dune Capital Management,who has worked with Ms. Felmanon a number of transactions. “She’svery creative and really understandsboth the real estate business and
how to structure deals.”The daughter of a Holocaust
survivor and a former Israeli police-woman, Ms. Felman, a self-de-scribed tomboy, grew up on LongIsland. She majored in economics atthe University of California, Berke-ley and earned an M.B.A. from theWharton School.
Following Wharton, she spentthree years in real estate finance atMorgan Stanley and then headed toGE Capital where, as managing di-
rector of global acquisitions andbusiness development, she was in-volved in $5 billion worth of corpo-rate and property acquisitions. Shejoined Vornado in 1997 and wasnamed head of acquisitions in 2000.
Her advice to would-be deal-mak-ers:“Only worry about the importantthings, and deal with those first andup front. If you can’t figure out theone or two most important things,you should not be doing the deal.”
—judith messina
to cover the uninsured by expandingpublic health programs. Some ofMs. Davis’ ideas have been taken upby presidential candidates and haveinspired officials in Massachusettsand other states searching forprogressive solutions.
“She’s always thinking of waysyou can mix and match ideas, tryingto weave them into a broader cloth,”says Dr. James Mongan, chiefexecutive of Partners HealthCareSystem in Boston.
The 89-year-old Common-wealth Fund supports everythingfrom rural health to improvementsin elder care with some $20 mil-lion in grants each year. Ms. Davis,64, an economist by training andthe first woman to head anagency of the U.S. Public HealthService, says she isn’t finishedforcing change. “I find it atragedy when there are things weknow how to do and we don’t dothem,” she says.
—elizabeth macbride
INDIA NATIVEPROMOTESALL OF ASIAVishakha DesaiAsia Society
Recent speakers at the AsiaSociety include AfghanPresident Hamid Karzai and
former U.S. Secretary of StateHenry Kissinger. ComposerPhilip Glass attendsperformances, scouting for thehottest Asian musiciansto collaborate with.
Vishakha Desai,58, a native ofIndia, presidesover it all.
Ms. Desai, ascholar of classicalIndian art andformer performerof South Indian dance, was
promoted to presidentof the 50-year-oldinstitution threeyears ago—the firstwoman ever in thatpost. Since then, the
$30 millionorganizationhas expandedits globalreach. Lastyear, it went ona $100 million
building spree,creating glitzyoutposts in HongKong, Houstonand elsewhere.
Previously,Ms. Desai servedas director ofmuseum andculturalprograms at theAsia Society,which became thefirst U.S.institution to
presentcontemporary Asianart. Artists she
introduced in a 1998museum show are today
fetching record prices atauctions.
Ms. Desai is proud ofthe Asia Society’snewfound prominence,but not surprised. “As
Asia rises in importance, if the AsiaSociety doesn’t rise in importance,we should close our doors,” she says.
—miriam kreinin souccar
POWER 25.
ADVERTISINGADVOCATELaura DesmondStarcom MediaVest Group, The Americas
Laura desmond firstconsidered advertising as acareer in an unlikely setting:
her college rhetoric class. She wasthe only student to argue thatadvertising has a positive impact onsociety. “I thought there must besomething [to advertising], since Iwas so positive embracing it,” shesays. “I thought I had better check it
out.”She did more
than test hertheory: Ms.Desmond becamea major player inthe ad game. Aschief executive of
the Americas division of giant mediabuyer Starcom MediaVest, she isresponsible for more than $15 billionin annual media buys for advertisingtitans such as General Motors andProcter & Gamble.
Ms. Desmond, 43, wasted notime climbing the career ladder aftergraduating from the University ofIowa. She won a coveted position atthe prestigious media division ofLeo Burnett, predecessor to
Starcom. In 2000, she became CEOof Starcom MediaVest’s LatinAmerican division; within threeyears, she had doubled revenues.
In 2003, she became CEO of thetroubled MediaVest USA unit. Sheturned it around and soon won $350million in business from Coca-Colaand a slew of new assignments fromother heavyweights, includingWendy’s and Wal-Mart. “Herleadership and our knowing she wasat the helm made a big difference tous,” says Chuck Fruit, a senioradviser to Coca-Cola.
Ms. Desmond was named CEOof SMG, The Americas last year.
—judith messina
ARCHITECTGIVES CITYA NEW LOOKElizabeth DillerDiller Scofidio + Renfro
Elizabeth diller neverwanted to become anarchitect: It was her parents’
idea. But the former Cooper Unionart student took an architecturecourse on a lark and ended upswitching her degree.
Now she is changing the face ofNew York. Together with her formercollege professor and now husband,
Ric Scofidio, Ms.Diller has becomethe go-to architectfor cultural andcivic projects. Thefirm is designingthe lion’s share ofthe $1 billion
overhaul of Lincoln Center, and alsowon the bid to transform New York’sHigh Line into a park.
Ms. Diller, 53, did not seek outmainstream commissions for most ofher career, favoring small artinstallations instead. But in 1999,she and her husband became thefirst architects to win a so-calledgenius grant from the MacArthurFoundation. After that, clients likethe Boston Institute forContemporary Art came calling.
Still, Ms. Diller, who teachesfull-time at Princeton and worksfrom 4 a.m. until 9 p.m. nearly everyday, takes on only projects she’spassionate about.
“I don’t distinguish the differencebetween work and play,” says thePoland-born daughter of Holocaustsurvivors. “My husband and I arevery obsessed with our work, and it’scontiguous with our personal lives.”
—miriam kreinin souccar
MATH MAJORTAKES MAJOR BANK ROLEMary Callahan ErdoesJ.P. Morgan Private Bank
When she graduatedfrom Georgetown Uni-versity, Mary Callahan
Erdoes, the only woman in her classto receive a degree in mathematics,didn’t know a balance sheet from aspreadsheet. “What I knew was thatbeing a female math major wasunique, and I had to figure out a wayto use it,” she says.
She got the jump start she
Instincts giveacquisitions exec real advantageMichelle FelmanVornado Realty Trust
VALUE OF VORNADO’Sacquisitions since Ms. Felman joined
$18B
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENNVishakha Desai Laura Desmond Elizabeth Diller Mary Callahan Erdoes Michelle Felman
W14 | Crain’s New York Business | October 1, 2007
buck
enn
is
“If the AsiaSocietydoesn’t rise inimportance,we should
close ourdoors”—VishakhaDesai
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needed from a crash course in financeand a job as an analyst at BankersTrust. She joined J.P. Morgan PrivateBank in 1996 as head of the fixed-income group, handling wealthyclients, foundations and endow-ments.
Eight years later, she wasnamed chief executive of theprivate bank, the third-largest in theworld. On her watch, assets undermanagement have grown more than33%, to $422 billion.
Colleagues credit Ms. Erdoes,39, with first-rate coaching and
communicationskills. When shetook over theprivate bank, sheset up shop in thetrenches alongsidethe portfoliomanagers, private
bankers and estate advisers. Sheholds a daily 8:15 a.m. conferencecall, during which she fieldsquestions from any of the bank’s3,500 employees in 38 countries.
Her toughest challenge now ismanaging billions of dollars in aturbulent market. “The big job ismaking sure we’re doing the best forclients in good markets and bad,being able to weather any storm,”Ms. Erdoes says.
—judith messina
POWER 25
REAL ESTATEANDTHE ARTSKatherine FarleyTishman Speyer
Katherine farley is a powerbroker in two worlds: realestate and the arts.
As a senior managing director atTishman Speyer—where she hasworked since 1984 and where shemet her husband, Jerry Speyer,the company’s chief executive—Ms. Farley is responsible for all ofthe real estate behemoth’s busi-ness in emerging markets. The 58-year-old executive, who has amaster’s in architecture from Har-vard, presides over $600 million ininvestments in Brazil and $700 mil-
lion in India, aswell as projects inChina totalingclose to $1 billion.
And that’s herday job. Ms. Farley,vice chair ofLincoln Center for
the Performing Arts, is leading thecenter’s $1 billion redevelopmentproject, the city’s largest and mostimportant cultural expansion. She isalso a trustee of the Alvin AileyAmerican Dance Theater.
She made headlines a few yearsago when, as chair of the New YorkPhilharmonic’s real estatecommittee, she led the orchestra’sill-fated negotiations to merge withCarnegie Hall. In general, Ms.Farley shies away from the spotlight.
“She cares much more about thework than about herself,” saysReynold Levy, president of LincolnCenter. “She is very modest andself-effacing.”
—miriam kreinin souccar
Michelle FelmanVornado Realty TrustPage W14
POWER 25
IT’S ALL INTHE BOOKJane FriedmanHarperCollins
Jane friedman is head of theworld’s fourth-largestpublishing company, a $1.34billion giant with 3,000
employees and expandingoperations worldwide.HarperCollins Publishers produces4,500 books a year, including
current hits like The Dangerous Bookfor Boys and literary gems likeAnnie Dillard’s The Maytrees.
Ms. Friedman, 62, who beganher career as a Dictaphone typist,was an executive with Alfred A.
Knopf beforetaking the top spotat HarperCollinsin 1997.
Since then, thesubsidiary ofRupert Murdoch’sNews Corp. has
nearly doubled in size. Withoperating income of $159 million, ithas the largest profit margins in theindustry.
Ms. Friedman, known for
having her finger on the pulse of themass market, is breaking moreground with her project to digitizethe company’s backlist. Themammoth undertaking will makebooks searchable and pave the wayfor HarperCollins to sell them indigital form.
A working mother of fourbefore it became common forwomen with children to climb thecorporate ladder, Ms. Friedmanhas been known to interrupt ameeting with Mr. Murdoch to takea call from her son.
“That is my rule,” she says,“that my sons can always reach meby phone—no matter what.”
—elizabeth macbride
A LEADER OF THOSEWHO TEACHSusan FuhrmanTeachers College,Columbia University
Susan fuhrman knows how tofix schools. She began hercareer as a professor of
education policy at RutgersUniversity and for more than adecade has carried out her ideas
Katherine Farley Jane Friedman Susan Fuhrman
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENN
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October 1, 2007 | Crain’s New York Business | W15
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When Ju-lie Gil-hart ar-rives atthe SoHooffice offashion
designer Rogan Gregory, it’s hard tobelieve that she isn’t one of the mod-els. The reed-thin Ali McGrawlook-alike is wearing short-shorts, aflowing Lanvin blouse and chunkysandals.
But Ms. Gilhart, 49, doesn’t stalkthe catwalk. As fashion director atBarneys New York, she decides whatis for sale at some of the world’s mostimportant fashion emporiums.“Juliegot us exposure at the most well-respected retailer,”Mr.Gregory says,adding that Barneys accounts for30% of his wholesale business.
Ms. Gilhart, known industry-wide as the shepherdess of undis-covered designers, scored a coup bypromoting green clothing, includingMr.Gregory’s line of organic-cottoncasual wear.
She has also moved establishedstars like Helmut Lang,Alber Elbaz,Balenciaga and Proenza Schoulerinto the mainstream.For instance,af-ter she brought French luxury hand-bag and luggage company Goyard tothe United States, Bergdorf Good-man and other stores followed suit.
“Thanks to Julie, we’ve had acontinuous parade of fresh talent,”says Howard Socol, president ofBarneys.
He says that Ms. Gilharthas been a significant forcein the company’s successbut declines to disclosefinancial data. Barneys’holdings include five full-scale department stores, 14co-ops,11 outlets,a Web site anda licensing agreement with a Japan-ese company—and Ms. Gilhart’sinfluence permeates all of them.
Independent bentborn and raised in Dallas by hermother, aunt and grandmother, Ms.Gilhart,49, left college at age 20 andbecame a buyer for Neiman Marcus.After five years, she rejected the de-partment store career path for thelife of an independent stylist, travel-
ing the world to uncover trends anddesigners and returning with freshideas for magazine shoots.
In 1992, she reluctantly acceptedan unsolicited job offer from Bar-neys to head up its expansion.“I toldthem that I didn’t like the corporatestructure of a retail organization,”Ms.Gilhart recalls.“I liked the free-dom and creativity and spontaneityof freelance work.”
As it turns out, she foundthe long leash she craved at
Barneys. Ms. Gilhart hasweathered the past decadeof corporate expansionsand contractions and is
dealing with Barneys’pend-ing sale to a Dubai-based in-
vestment fund.Ms. Gilhart, who lives in the
West Village with her 15-year-oldJack Russell terrier, supervises twopeople and maintains a hecticschedule of markets, fashion shows,and meetings with buyers and sales-people.
“My whole life is about discov-ery,” Ms. Gilhart says. “If I lived to200, I still wouldn’t get to do every-thing I want to.”
—tina traster
from top positions at two of thenation’s leading academicinstitutions.
Ms. Fuhrman, 63, recentlycompleted her first year aspresident of Columbia’s Teachers
College, whereshe is workingto bridge gaps inthe city’s under-served schools.Before that, shewas for 11 yearsdean of the
University of Pennsylvania’s Grad-uate School of Education, whereher accomplishments includedcreating a model pre-K-through-8public schoolin WestPhila-delphia.
Herinitiatives have beencopied by otherreformers. “Her study onstate and federal policy onelementary and secondaryeducation puts her in theforefront of reform,” says JimKelly, president of theNational Board forProfessional TeachingStandards.
Ms. Fuhrman controlsa budget of $170 million.She has spent the pastyear recruiting keypersonnel and developingmore transparency in fiscaland policy matters. Perhapsher biggest influence isbeing felt off campus: Ms.Fuhrman is implementingprofessional-developmentprograms at a dozenHarlem high schools.
—tina traster
CELEBRITYGOSSIP’SGODMOTHERBonnie FullerAmerican Media
Bonnie fuller, the formereditor of Us Weekly who iscredited with defining the
celebrity weekly maga-zine, took her star powerto American Media Inc.in 2003. As chief editori-
al director, she oversees15 titles, includingStar, Shape, Men’sFitness, Natural
Health and FitPregnancy.
Ms. Full-er, whose
résuméincludes stints at
YM, Marie Claire,Cosmopolitan andGlamour, hastransformed Star froma tabloid to a glossytitle. Circulation hasjumped 24% since herarrival, to 1.5 millioncopies, though she isunder intensepressure to keep
bumping up thosenumbers as readers move tothe Internet. The number ofadvertising pages is up 36%since 2004.
“Bonnie Fuller has a well-honed sense of how to dealwith celebrities, but her real
success derives from the fact
that she usedthese skills justbefore there wasan explosion ofcelebrity-drivenmedia,” saysMartin Walker,chairman of
Walker Communications, amagazine consulting firm.
In April 2006, Ms. Fuller, 51,published her first book, The Joys ofMuch Too Much: Go for the Big Life—The Great Career, The Perfect Guy,and Everything Else You’ve EverWanted. Ms. Fuller, who has fourchildren, says she wants women toknow “they can have a full life and acareer”—and plenty of celebritygossip.
—tina traster
POWER 25
UPDATING‘HISTORY’Ellen FutterAmerican Museum of Natural History
It’s hard to imagine theAmerican Museum of NaturalHistory without the Rose Center
for Earth and Space, which hasintroduced millions of people to the
wonders ofastronomy since itopened in 2000.Construction ofthe $210 millionproject was one ofEllen Futter’s firstfeats after she
became museum president 13 yearsago. It wasn’t her last.
The 58-year-old former lawyerhas turned the once-stagnant 138-year-old museum into a world-class institution. The museum’sannual traffic has doubled to 4million visitors, its endowment hasgrown 143% to $571 million, and itsoperating budget has tripled to$156 million. It recently securedauthorization to grant graduatedegrees in science, making it the firstAmerican museum awarded thatright.
Firsts are nothing new to theLong Island native. At 32 shebecame president of her alma mater,Barnard College, and the youngestperson ever to head a major U.S.college. During 13 years in thatpost, she preserved Barnard’sindependence from ColumbiaUniversity and built a dorm givingall students the option to live oncampus. “I like being a provocateurfor change in ways that advance theinstitutions while also staying true totheir history or tradition,” she says.
When simon cooper,president of The Ritz-Carlton Hotel Co., wants
advice on his hotels, he turns toBarbara Gallay. So do the heads ofmany other five-star hotels and
leading cruise lines.Ms. Gallay, a 66-year-old New
Jersey native, is president of one ofthe world’s most exclusive travelagencies. Among her affluentclients: the top brass at numerousFortune 100 corporations, membersof European royalty, and The RedHot Chili Peppers.
Ms. Gallay, who as a youngwoman was toldshe was too tall topursue her dreamof becoming astewardess, has runLinden Travel forthe past 32 years.More than 100
associates work for her. Last year,Linden reached $100 million inrevenue. In the first six months ofthe year, sales were 11% ahead of theprevious year’s levels.
She is so busy that she barely hastime for her first love: personaltravel. “I have planned Bhutan twiceand had to cancel it,” Ms. Gallaysays. “But my business is sorewarding that I sometimes pinchmyself because I can’t believe I’vedone this.”
—miriam kreinin souccar
EXEC KEEPSHOSPITALHEALTHY Gladys GeorgeLenox Hill Hospital
Seventeen years ago, therecruiter seeking to fill the topjob at Lenox Hill Hospital
didn’t think Gladys George, then the
Free spirit finds a homeas a fashion guiding lightJulie GilhartBarneys New York
SURFER who has hitbeaches worldwide
buck
enn
is
Avid
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENNBonnie Fuller Ellen Futter Barbara Gallay Gladys George Julie Gilhart
W16 | Crain’s New York Business | October 1, 2007
“I likebeing a
provocateur for changewhile alsostayingtrue toinstitutions’history”—Ellen Futter
CNYB 10-01-07 A 16 9/26/2007 3:39 PM Page 1
general counsel and actingpresident, was qualified to hold thepost permanently. The hospital’sdirectors thought differently. Itturned out that they were right.Ms. George, known for herpassion for the job andunassuming style, has steadiedLenox Hill during a tumultuousera for hospitals.
She leads a giant institution:652-bed Lenox Hill treats 225,000
patients a year.Combined withsubsidiaryManhattan Eye,Ear and ThroatHospital, theorganization hasrevenues of
$637 million. Though it sits in theshadow of three major academicmedical centers, it has been namedamong the nation’s best hospitalsfor heart care, orthopedics andneurology and neurosurgery.
For Ms. George, 61, the hardwork is far from over. She hasfought to keep Lenox Hillindependent at a time when manyother hospitals have merged. Thehospital has been strugglingfinancially, but its prospects areimproving. Ms. George, one of onlytwo women leading major NewYork City hospitals, says she has nothought of leaving.
“I love my hospital,” she says.“Having this job has been aprivilege.”
Advertising executiveMary Gerzema has areputation for being a fist in
a velvet glove. Early in her career,the accomplished, straight-shootingMidwesterner planned onbecoming a lawyer. She probablywould have been a litigator. “I can’tfake it. Everybody knows where I
am coming from,”she says.
She has to betough. Ms.Gerzema, 44, ispresident of theU.S. business ofUniversal
McCann, a $6 billion mediaservices enterprise. She manages theadvertising purse strings of many ofthe world’s biggest corporations,including Johnson & Johnson, Sonyand Microsoft. She makes decisionsthat ripple throughout the mediaindustry—from choosing whichagencies handle which projects todeciding where ads get placed.
Clients and colleagues love theMinnesota native’s moxie. Her boss,Universal McCann Worldwide
Chief Executive Nick Brien, boastsof the time she threatened to lead arevolution against him because hehad been rude to colleagues duringa meeting in London. “Mary isn’tintimidated by figures of authority.That’s one of the many great thingsabout her,” he says.
—tommy fernandez
Julie Gilhart Barneys New YorkPage W16
DEVELOPERWITH KEENSTYLE SENSEMaryAnne GilmartinForest City Ratner
Maryanne gilmartin,executive vice president ofForest City Ratner Cos., is
about to change Brooklyn forever.She is spearheading the colossalAtlantic Yards project, a $4 billion
development thatincludes an arenadesigned by FrankGehry, a 511-foottower and 6,400residential units. Itranks among thecity’s most
important projects so far in the newmillennium.
That Forest City CEO BruceRatner gave Ms. Gilmartin the jobreveals her stature in real estate.With the RenzoPiano-designedNew York Timesbuilding, sheshowed the fieldthat it was possibleto do a speculativeproject with a top-tier architect.Other developersare now followingher lead.
Ms. Gilmartin,43, says thepaucity of femaledevelopers madeit easier to carveout a space in herown style, whichincludes anartisticsensibility. Shesits on theadvisory board ofthe New YorkCity Ballet and isa member of theArchitectural Leagueof New York.
“I’ve helped create anew image fordevelopers,” she says.“Women have a place inthis world, and they can beauthentic here.”
—elizabeth macbride
THE PRIZE CURATOROF HARLEMThelma GoldenStudio Museum in Harlem
The studio museum inHarlem has long been alocal landmark. Since
Thelma Golden took the helm,it’s become known worldwide.
“Wherever you go in the artworld, when you say ‘Thelma,’
you don’t have to say‘Golden,’ ” says NancyLane, a Studio Museumtrustee. “Thelma hasmoved us to a truly globalstage.”
The 41-year-old starcurator joined the$6 million museum,which presents work by
artists of African descent, in2000 and becameits director twoyears ago.
The Queensnative, who hadwanted to workin the arts sincethe sixth grade,got her big break when theWhitney Museum of American Arthired her as a curator in 1991. Shemade headlines with a controversialshow, “Black Male,” and earned a
Mary Gerzema MaryAnne Gilmartin Thelma Golden
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENN
October 1, 2007 | Crain’s New York Business | W17
“I’ve helpedcreate a newimage fordevelopers”—MaryAnneGilmartin
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CNYB 10-01-07 A 17 9/26/2007 1:35 PM Page 1
Months aftershe took overthe NewYork Immi-grationCoalitiontwo years
ago, Chung-Wha Hong organizedthe largest immigration rally in NewYork City history, attracting morethan 300,000 people for a march onCity Hall.
Around the same time, the41-year-old native of SouthKorea helped win an influxof $700 million in statefunds for local schools tohelp immigrant studentswho don’t speak English.
And this past summer, af-ter intense lobbying from a coali-tion put together by Ms.Hong,May-or Michael Bloomberg enacted a lawdramatically changing housing-code
enforcement and mandating quickaction by landlords to ensure that allviolations are promptly addressed, amove that will help immigrant- andlow-income families living in homeswithout hot water or heat.
Those are just a few of Ms.Hong’s victories in a 20-year careerfighting for the rights of immi-grants.“I’ve never seen anyone in mylife show such a strong commitmentand dedication for social justice,”says S.J. Jung, president of theYoung Korean American Serviceand Education Center. “She is thehardest-working person on earth.”
Stories of Ms. Hong’s tenac-ity are legendary. About 10
years ago, when she was ex-ecutive director of the Na-tional Korean AmericanService and Education
Consortium, Ms. Hongworked around the clock for
days until she finally collapsedand was rushed to the hospital. Asshe was falling to the floor, shegrabbed a stack of mailings, handed
them to a staffer and said, “Thesemust go out today.”
Following parents’ work ethicms. hong, who arrived in St. Louisat age 11 with her family, is follow-ing the work ethic she saw her par-ents exhibit. Her father and motherworked multiple jobs as they builtlives in the United States.Ms.Hongcame to the country without know-ing English and spent her after-noons with a tutor. The family later
moved to Boston, where they livedin housing projects, and Ms. Hongwent on to graduate from the Uni-versity of Pennsylvania.
Now that Ms. Hong, who lives inFlushing, Queens, with her threechildren, is established here, she feelsit is her responsibility to help new-comers. The coalition is made up of215 immigrant organizations.WhenMs. Hong meets with governmentofficials, she always brings represen-tatives of these groups.
After years of lobbying for immi-gration reform, she is still smartingover the recent demise of federal leg-islation. But she is plotting the nextbattle. “There were people whothought that finally they would beable to come out of the shadows andlive as Americans with equal rights,and that was pretty devastating,” shesays. “That’s why we’re going to pulltogether a multisector coalition andcreate new momentum.”
—miriam kreinin souccar
reputation for presenting chal-lenging ideas.
She serves on numerousinternational art prize committeesand is a juror for nearly all of thepublic art commissioned in NewYork City. She traipses the world insearch of new artists to champion. “Istill have the same feeling I had as a15-year-old traveling the city bymyself going to exhibitions,” shesays. “At that time I was so moved bythe experience of artworks, and itstill happens, sometimes every day.”
—miriam kreinin souccar
ART DEALERHAS GLOBALROSTERMarian GoodmanMarian Goodman Gallery
In the mid-1970s, MarianGoodman was running an artprinting business when she fell
in love with the work of Belgianartist Marcel Broodthaers. Shesearched for a gallery to representhim in the United States—when noone would, Ms. Goodman opened
one herself.Since then,
Ms. Goodman, aNew Yorker whosefather was acollector, has usedher East 57thStreet gallery to
build a roster of superstar artists,most of them Europeans. Her stableincludes German painter GerhardRichter, who recently had a show atthe Museum of Modern Art, and
German photographer ThomasStruth, who had a 2003retrospective at the MetropolitanMuseum of Art. Ten years ago sheopened a gallery in Paris.
Ms. Goodman, who declines togive her age, originally hoped toland a curatorial job after earning amaster’s in art history fromColumbia University, but foundthose positions scarce for women atthat time.
Now she is one of the mostinfluential dealers in the world. “Iwas on a mission to introduce thesewonderful European artists to theUnited States,” she says. “Iconducted somewhat of a crusadethat eventually succeeded.”
Stefani greenfield’sinspiration for Scoop NYCcame from friends who said
things like, “I wish I could shop inyour closet.” When she opened herfirst boutique downtown 11 yearsago, she displayed her merchandisethe way she organized her closet—organizing items by color and trendrather than by brand.
Scoop met with immediatesuccess and has since evolved into amini fashion empire that boasts itsown brand and online salesoperation. Ms. Greenfield, 40, headsthe design team for Scoop’s private
label and co-owns 13 stores in ninecities worldwide. Sales figures forher stores are impressive, rangingfrom $1,000 to $2,500 per square
foot annually. Sheappears on TheToday Show as afashion expert andis collaboratingwith the HomeShopping Net-work
on a show that willfeature Scoop’s labelsand star Ms.Greenfield as co-host.
Without fail,each trend thatMs. Greenfieldwelcomes intoher storesdevelops intothe nextfashion craze.She has anuncannyability toidentifyemergingtrends—forexample, herearlyendorsementof skinnyjeans andballet flats.But sheremainshumble.“There’s no crystalball,” she says. “Youfollow your internalconcept and hope itleads in the rightdirection.”
—adriannepasquarelli
MUSIC EXECLEADS WAYTO TECH AGEJulie GreenwaldAtlantic Records
Music maven JulieGreenwald has had hergrind on ever since she
joined Def Jam Records as thepersonal assistant to Lyor Cohen,head of the hip-hop label at thetime. She flexed
her work ethicand moved up toexecutive vicepresident ofwhat becameUniversalMusic’s IslandDef Jam Group before sheturned 30.
Today, as president ofAtlantic Records—under WarnerMusic Group, where Mr. Cohen
is chief executive—she’srunning one of the biggestrecord labels in the world. It’sher job to lead Atlantic intothe digital age by finding waysto bring music to consumersthrough technology—“andmake kids pay for it,” shenotes.
This is an experimentalphase for the industry, but Ms.Greenwald isn’t afraid to fail.“Trying new things makes yousmarter, wiser and more powerful,”she says.
Ms. Greenwald, 37, expects noless from the 160 people who reportto her, taking an unabashedly
tough-love approach in hermanagement style. “She has anaggressive, cutting-edge approachto A&R, marketing and promotion,which encourages her staff toconstantly push the creativeboundaries in developing ourartists,” says Mr. Cohen.
—samantha marshall
DEVELOPERTRANSFORMSLANDSCAPEVeronica HackettThe Clarett Group
Awoman in an industrydominated by men, and anoutsider in a city where old-
line families still call the shots,Veronica Hackett, 62, has built oneof the most important developmentcompanies in New York City.
The Clarett Group, which sheco-founded eight years ago with thelate Neil Klarfeld, is responsible fornearly $2 billion worth ofdevelopment, including residentialtowers in Fort Greene, Brooklyn,
and in Harlem.The firm’smanaging partner,Ms. Hackett hasexpanded itsoperations toWashington, D.C.,and to California.
She is currently at work on a 1million-square-foot project inHollywood that is the centerpiece ofa downtown revival.
Ms. Hackett, who shares equityin the business with most of her 47
S.Korea native fights for rightsof immigrantsChung-Wha HongNew York Immigration Coalition
“I was on amission tointroducewonderfulEuropeanartists to theUnitedStates,whicheventuallysucceeded”
—MarianGoodman
CNYB 10-01-07 A 18 9/26/2007 3:41 PM Page 1
employees, is one of the Committeeof 200, a nonprofit network of topwomen entrepreneurs who helpother women in business. She takesa special interest in the unusual fewwith the nerve and vision to becomedevelopers.
“With development, there’s thisphysical ability to transform thelandscape,” she says. “That’samazing.”
—elizabeth macbride
NAILING THE NETWORK CHIEF’S JOBBonnie HammerUSA Network and Sci Fi Channel
Bonnie hammer fell intotelevision. Back when shewas a photographer working
on the set of a public televisionshow, she was offered the job ofproduction assistant to replacesomeone who had just been fired.She stepped right into thepromotion.
That’s been a major theme inMs. Hammer’scareer: embracingwhat comes herway. “I’mcomfortabletaking risks, goingplaces where otherpeople won’t go,”
says Ms. Hammer. “If someonetells me that something can’t bedone, I just work harder.”
As a programming executive atUSA Network, she crafted itsprestigious “Erase the Hate” publicservice campaign. She was thenassigned to help developprogramming for the WorldWrestling Federation.
She initially hated the sport somuch that she almost quit, but shedecided to give the job a try. Shemade it work.
Then in 2001, Barry Diller,head of USA Networks Inc., madeMs. Hammer head of the Sci FiChannel, an underdevelopedproperty. He told her, “Dosomething with this,” she says. Sheturned the channel from a genrewallflower into a ratingspowerhouse. In 2004, she becamepresident of USA as well.
Now she’s turning the industryupside down. USA Network is thetop-rated channel on cable, and SciFi is rated No. 5. Together, theyhave won nine Emmys and aPeabody. The networks, now partof the NBC Universal TelevisionGroup, are available in more than90 million homes.
—tommy fernandez
CHUTZPAHBUILDSA NAMEDottie Herman Prudential Douglas Elliman
Dottie herman personifiesthe conviction required tosucceed in New York’s
residential real estate business.She started out as a broker on
Long Island and built a companythrough a series of acquisitions thatbegan in 1989. She is now chiefexecutive of Prudential Douglas
Elliman, one of the largest realestate brokerages in the metro area,with projected 2007 sales volumeof $14 billion.
“You can’t be afraid to fail,”claims Ms.Herman, 54.“People laughedin my face while Iwas doing this.”
Ms. Herman,who broke intothe city by buying
Douglas Elliman soon after Sept.11 had roiled the market, nowoversees an empire: 3,300 brokersand 1,000 staffers involved in thebrokerage, a mortgage company,property management operation
and title firm.She has adopted novel
strategies gleaned from outside thecity, such as maintaining a desk toget Internet queries answered inreal time.
Always in demand as aninspirational speaker, Ms. Hermanoften mentions the sign in heroffice: “Success is just failureturned inside out.”
—elizabeth macbride
Chung-Wha HongNew York Immigration CoalitionPage W18
BAM HEADDELIVERSMORE BANGKaren Brooks HopkinsBrooklyn Academy of Music
When karen brooksHopkins came to theBrooklyn Academy of
Music as a development assistant in1979, the place was a tough sell tofunders and patrons. No longer.
Ms. Hopkins took over fromHarvey Lichtenstein, longtime
BAM president and her mentor,eight years ago. Since then, annualattendance has tripled to 500,000,and the budget has more than dou-
bled to $35 mil-lion. She has builtan endowment of$60 million fromnothing.
In fact, withprograms likethe acclaimed
Next Wave Festival and Sundancefilm-screening series—and edgycampaigns to market them—Ms.Hopkins’ success wooing youngaudiences has been copied by majorManhattan institutions like LincolnCenter. Ms. Hopkins’ imprint also
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CNYB 10-01-07 A 19 9/26/2007 3:43 PM Page 1
Four years ago,when Spanish firmCemusa walked in-to New York City,its prospects ofwinning a $1.3 bil-lion city contract
were, in the words of lobbyist SuriKasirer, “very, very slim.” Itscompetitors were householdnames.
But Ms. Kasirer likedCemusa’s designs for busshelters, newsstands andpublic toilets, and she out-lined a winning path.
“She can plan a strategy veryquickly,” says Cemusa’s chief execu-tive, Toulla Constantinou. “I trusther instincts.”
Navigating New York is one ofthe talents Ms. Kasirer brings to herposition as its top-grossing lobbyist,a title she captured in 2005. With
just two other senior lobbyists onstaff, Kasirer Consulting representsthe Israeli real estate firm thatbought the Plaza Hotel; severalnonprofits, including Safe Hori-zons and the American Cancer So-ciety; and about 30 other clients.
Ask anyone about Ms. Kasirer,47, and they will tell you that she isalways beautifully groomed and al-ways working. Even her lunches area well-orchestrated bit of network-
ing, eaten at a regular table atCity Hall restaurant.
“She doesn’t shut off,”says William Rapfogel,head of the MetropolitanCouncil on Jewish Pover-
ty. “She’s extraordinarilyambitious,and she mixes that
with this burning commitmentto work and the causes she cares for.”
Her husband has a different takeon Ms. Kasirer’s drive. “It’s infuriat-ing! Infuriating!” says Bruce Teitel-baum, a lawyer and former chief ofstaff to Mayor Rudy Giuliani. “TheBlackBerry is glued to her hand.”
But his mock fury is tied to pridein the $3 million business his wife hasbuilt in 11 years.“Suri takes her workextremely seriously;she’s deeply com-mitted,” Mr.Teitelbaum says, notingthat she wakes up to jot down ideas.
Thinking for herselfthe daughter of an orthodox rab-bi, Ms. Kasirer grew up in Queensand graduated from Yeshiva Uni-versity. She thought about becom-ing a lawyer, but her parents did notexpect her to become anything be-yond a wife and mother, she says.
Her only brother and his wifehave eight children, and both ofthem teach at a yeshiva school. Ms.Kasirer jokes that she is the blacksheep, although she is happily mar-ried and gave birth to a daughter,Sophia, last November.
Ms. Kasirer served as a specialadviser to Gov. Mario Cuomo andworked for Hillary Clinton’s 1992Senate campaign.
She is driven in part by the char-itable work of her nonprofit clients.She also set out, years ago, to provesome powerful critics wrong. In
1998, newspapers wrote that sheused her husband’s connections tolobby the Giuliani administration.After a scandal about whether oneof her clients received special park-ing privileges, the mayor barred hisstaff from doing business with her.
With her rise post-Giuliani, shehas put the sniping behind her. “I’vebeen vindicated that it is not aboutany one particular relationship,” shesays. “It’s not about any one personputting an arm around my shoulderand saying, ‘Whatever you need.’ ”
—anne michaud
extends outside the arts world. Sheis the first cultural executive indecades to become a New York stateregent and is playing a leadershiprole in the revitalization ofBrooklyn’s Fort Greeneneighborhood.
The 55-year-old mother of acollege-age son says there is rarely amoment when she isn’t working.“BAM is not a job, but a crusade,”she says. “Building it has been my life.”
—miriam kreinin souccar
DANCER HASSTEPPED UPFOR AILEYJudith JamisonAlvin Ailey American Dance Theater
It’s been three years since theopening of Alvin AileyAmerican Dance Theater’s
stunning new building on West55th Street, but Judith Jamison stillgasps in disbelief every time she
walks in the door.The 64-year-
old artisticdirector—alegendarychoreographerwho was once oneof the mostfamous dancers in
the world—convinced her board ofdirectors that Ailey needed its ownhome. She helped raise $75 millionto build the facility, the largest onein the nation used exclusively fordance.
Her feat should come as nosurprise. Mr. Ailey handpicked herto run the company shortly beforehis death in 1989.
Since then, she has pulled Aileyout of the red and doubled itsbudget to $24 million. She has ledAiley dancers to performancesworldwide, set up dance campsaround the country and establisheda joint bachelor’s program withFordham University.
Ms. Jamison, who grew up ina close-knit, churchgoing familyin Philadelphia, credits her faithfor her success. “That’s how I’vegotten as far as I’ve gotten,because it sure isn’t all me,” shesays. “Whatever gift God givesus is what we’re here to do.”—miriam kreinin souccar
POWER 25
SHE FINDSCALLINGAndrea JungAvon Products
During her 13 yearswith Avon ProductsInc., Andrea Jung has
done nearly everything exceptactually ringing customers’doorbells. She started with thecosmetics firm as a marketingexecutive and worked her waythrough various positions, withresponsibility for research anddevelopment, strategic planning andjoint ventures.
The breadth of herexperience helped Ms. Jung land
the top job in1999.
That year, thecompany reportedrevenue of$5.3 billion. Sincebecoming chiefexecutive, Ms.
Jung has grown Avon’s sales to$9 billion by expanding thecompany’s reach around the world,introducing Avon to a younger
generation of shoppers andstriking innovative alliancessuch as the fragrance dealAvon made last year withYankees shortstop Derek Jeter.
“She has made Avonmore relevant to thewomen who sell it andthe women who buy it,”says Connie Maneaty,an analyst at BMO
Capital Markets whocovers the
cosmeticsindustry. “It wasalways one ofthose brands inthe back of yourmind, but nowit’s morecontem-
porary.”Ms. Jung, a 48-year-old
graduate of PrincetonUniversity, grew up in
Massachusetts as a daughter ofimmigrant parents and speaksfluent Mandarin Chinese.
—elisabeth butler
Suri Kasirer Kasirer Consulting
See above
POWER 25
GEEK RISESTO THE TOPSallie KrawcheckCitigroup Global WealthManagement
In high school, SallieKrawcheck blossomed into asocially secure homecoming
queen and track star, but she neverforgot the earlier years she spent as aloner. Today, she draws on both sidesof her personality as chief executiveof one of the world’s largest financialoperations: Citigroup Global WealthManagement, which oversees$1.4 trillion in client assets.
The 42-year-old formersecurities analyst loves nothingbetter than poring over spreadsheets
in the morning—“I am a geekthrough andthrough,” shesays—thentrotting off towealth-management
office visits in the afternoon andclient functions at night.
But it was also her reputationfor integrity that promptedCitigroup Chief Executive CharlesPrince to elevate her from CEO ofSmith Barney to chief financialofficer in 2004, a position she helduntil early this year.
Mr. Prince needed her help to
overcome a conflict-of-interestscandal. Now, with oversight ofCiti’s 46,000 employees in globalwealth management, Ms.Krawcheck is drawing on herreputation and skills to wielduncommon influence.
—tom fredrickson
RETAIL EXECREACHESLOFT-Y GOALKay KrillAnn Taylor Stores
It didn’t take long for KayKrill to change the DNA of AnnTaylor Stores Corp. Within a
year of signing on as vice presidentof merchandising in 1994, shelaunched and began nurturing Loft,a casual-apparel chain designed tocomplement the company’s coreoffering, Ann Taylor. Although AnnTaylor has experienced ups anddowns, Loft eventually outgrew itssister brand, and now the two linesgenerate a combined $2.4 billion in
executive. She is known for herremarkable merchandising savvy andhands-on management style, not tomention her lingering Southerndrawl.
Ms. Krill, a 52-year-old North
Lobbyist knowshow to navigateallies of powerSuri KasirerKasirer Consulting
AMOUNT that citylobbyists grossed
in 2006
$44M
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENNJudith Jamison Andrea Jung Suri Kasirer Sallie Krawcheck Kay Krill
W20 | Crain’s New York Business | October 1, 2007
buck
enn
is
“BAMis not
a job, but acrusade.Building it has beenmy life”—Karen Brooks Hopkins
CNYB 10-01-07 A 20 9/26/2007 4:45 PM Page 1
Carolina native, studied psychologyand economics at Agnes ScottCollege in Atlanta, but she learnedthe apparel industry on the job. In1977, she went through Macy’sexecutive training program beforelanding a job at Talbot’s in the1980s. Ms. Krill also served invarious management positions atHartmarx and Carroll Reed beforeshe got to Ann Taylor.
“Kay’s depth of experience in theindustry, combined with her talentfor effectively shaping and buildingbrands, have made both her and ourcompany more successful overtime,” says Michele Patton, a Loftsenior vice president and director ofstores.
Every woman is frightenedabout breast cancer,” saysEvelyn Lauder, senior
corporate vice president of TheEstée Lauder Cos. She is one of themost prominent New Yorkersraising funds to fight the disease.
In 1989, she and her husband,Leonard Lauder, son of the late
founder of the company, raised $18million to establish the Evelyn H.Lauder Breast Center at MemorialSloan-Kettering, which has become aworldwide model for coordinatingsupportive services for breast cancerpatients. In the early 1990s, Ms.Lauder started the company’s pink-
ribbon campaign tospread awarenessabout breast health.The Breast CancerResearchFoundation,which Ms.Lauder
established in 1993 to addressa lack of funding forresearch, has raised$180 million.
“Evelyn’sfoundation bringstogether thescientists andclinicians, which is anew way to make adifference in the fightagainst breast cancer,” saysDr. Larry Norton, deputyphysician in chief for breastcancer programs at theMemorial Sloan-KetteringCancer Center.
Ms. Lauder, 70, is singularlyfocused on this battle. An avidphotographer, she has donated$1 million in proceeds frompublished photo collectionsand gallery exhibitions to thefoundation.
every possible waythe brand interactswith customers,” shesays.
Ms. Lazarus ischief executive ofOgilvy & MatherWorldwide Inc., anadvertisingconglomerate with10,000 employees in 377offices across 97
countries. Total billings lastyear reached more than$10 billion. She says thatshe brings the same
commitment to her job that shebrings to her outside pursuits, likehiking, biking and skiing. And shehires only people who approachadvertising in the same way. “Ibelieve that people who are
passionate aboutwhat they dosucceed,” she says.“You need thatkind of passion inthe people aroundyou.”
Ms. Lazarus,59, acquired the passion when shejoined Ogilvy, following a shortstint at Clairol immediately aftershe earned her master’s degree fromColumbia Business School. She hadplanned to stay just a few years atthe agency; instead, she built hercareer there. She has served aschairman and chief executive for thepast 10 years.
—tommy fernandez
A BELIEVERFIGHTS THEGOOD FIGHTBertha LewisNew York Acorn
Bertha lewis has a passionfor left-wing politics, andfeet that are not at all pretty.
Ms. Lewis, the executive director of
the New York Association ofCommunity Organizations forReform Now, has logged thousandsof miles collecting signatures,walking picket lines and getting outthe vote.
Along the way, she has becomethe leader of a grassroots force thatcan make or break many a well-crafted business deal.
Ms. Lewis, 56, started down theroad almost 20 years ago, fightingsuccessfully for everything fromsquatters’ rights to a higherminimum wage. In 1998, shehelped found the union-alliedWorking Families Party.
The WFP is as much a lobbyinggroup as it is the choice on a ballotline; politicians of all stripesroutinely seek Ms. Lewis’
endorsement.“Once a year,
I’m a popular girl,”she says. “Theseare people thatotherwisewouldn’t bother tospit on me.”
Ms. Lewis has recently used herclout to help derail onecontroversial development plan,Starrett City, and assist another,Atlantic Yards. This past summer,she helped 60,000 child careproviders win the right to unionize.
Her vision extends beyond NewYork: Ms. Lewis is helping groupsin half a dozen states establishliberal third parties of their own.
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“Once ayear, I’m a populargirl. Thesearepeoplethat
otherwisewouldn’tbother tospit onme”—BerthaLewis
CNYB 10-01-07 A 21 9/26/2007 4:47 PM Page 1
Anita lo, 41,dressed in a beat-up T-shirt andshorts, arrives ather restaurant ona rickety bicyclewith a basket full
of fresh fennel and rhubarb for theevening’s dinner. She barely standsout on a tiny Greenwich Villagestreet.
The same can’t be said for heraward-winning restaurant Annisa.The critical success of the 45-seateatery has made Ms. Lo one of themost highly regarded chefs in theworld.
“Her food is phenomenal,” saysDana Cowin, editor in chief of Foodand Wine, which chose Ms. Lo as a“best new chef ” in 2001.“She is tru-ly among the best chefs overall—anywhere.”
Annisa, which Ms. Lo openedseven years ago, is one of only twowoman-owned restaurants to earn acoveted star in the two-year-old New
York edition of the Michelin Guide.But Ms. Lo’s reach extends be-
yond Annisa’s upscale patrons,many of whom wait a month forreservations. In 2005, she and busi-ness partner Kenny Lao openedRickshaw Dumpling Bar, a fast-food dumpling restaurant on West23rd Street.
The duo added a second locationon East Eighth Street last month.They plan to roll out anothersix locations in the next twoyears. Ms. Lo is also plan-ning to launch a 120-seatAsian barbecue restau-rant on Bleecker Streetthis fall.
“I am trying to build anempire,” says Ms. Lo, whocaused a stir among foodies when shedefeated Mario Batali on Iron Chef in2005. It was the first time a womanbeat a man on the American FoodNetwork competition program.
Born in Birmingham, Mich., toChinese immigrant parents, Ms.Lo credits her upbringing as the in-spiration for her career in the foodbusiness.
Her mom and stepfather loved
food and travel, instilling in Ms. Loa passion for international cuisine.
First in her classafter majoring in french at Co-lumbia University, Ms. Lo got a de-gree in cooking at the prestigiousRitz-Escoffier school in France,graduating first in her class. Sheworked her way up the food chain atseveral well-known restaurants,
including Bouley and Chan-terelle.
Her creative juices flowthe most at her house onLong Island, where shecatches fresh fish to go with
produce from her garden forher own meals.That is where she invents
the dishes that keep her patronssalivating.
Ms.Lo says she knows that she isonly as good as the last meal she hasserved any of her demanding cus-tomers. “You don’t choose this in-dustry; it chooses you,” she says.“You have to be obsessed with it—you have to really want it and need itin order to sustain it.”
—miriam kreinin souccar
POWER 25
BUILDINGON A LEGENDPamela LiebmanThe Corcoran Group
Pamela liebman says thatconversation at dinner partiesinevitably lands on two topics
of almost equally wide appeal: sex andreal estate. “I’m not sure which is atthe top of the list,” she says, but shedoes know that she can comfortably
lead any discussionabout real estate.
Ms. Liebman,45, has been chiefexecutive of TheCorcoran GroupInc. for sevenyears, succeeding
legendary founder Barbara Corcoran.On her watch, the residential
brokerage has grown from $2 billionin annual sales to a forecast$14 billion for 2007, expanded toLong Island and Palm Beach, andbought Citi Habitats, a firmspecializing in rental units.
Corcoran, with 2,500 employeesand brokers, is one of the city’slargest residential brokerage firmsand probably the best-known,partly because the eloquent Ms.Liebman is so often the voice of theindustry.
Inspired when a family friendwas diagnosed with leukemia, shehas also become a rising health carephilanthropist, helping to run afoundation and holding a seat onthe Leukemia & LymphomaSociety board.
—elizabeth macbride
Anita LoAnnisa restaurantSee above
MANAGINGMARTHA’SMAKEOVERSusan LyneMartha Stewart Living Omnimedia
In 2005, when Martha Stewart,fresh out of prison, spoke toemployees of Martha Stew-
art Living Omnimedia Inc. whilethe TV cameras rolled, SusanLyne was the other woman on thestage. Today, while Ms. Stewart
remains thepersonification ofthe brand, Ms.Lyne is centerstage in theexecutive suite.
In the twoand a half years
that she’s served as chief executive,Ms. Lyne has overseen anexpansion of the lifestyle empirebuilt by Ms. Stewart, who remainswith the company as a creativeconsultant but is barred fromserving as an officer or director. Ms.Lyne has signed more than a dozenmajor merchandising deals,including one for a massive line ofproducts for Macy’s, and launchedadditional publications, includingBlueprint.
“Our focus has been to createnew products and new businessesthat allow women to express
themselves and improve theirlifestyles in new ways,” Ms. Lynesays.
The executive, 56, is able to drawon a variety of professionalexperiences.
She was formerly managingeditor of The Village Voice, the creatorand editor of Premiere Magazine, andpresident of ABC Entertainment,where she championed hit showsLost, Grey’s Anatomy and DesperateHousewives.
“I think at ABC, I was able tosteer programming toward ‘girlshows’—shows that women couldlook upon as their own,” she says.
—tommy fernandez
PRODUCERCOMMANDSBROADWAY Elizabeth McCannTheater producer
With her tough-talking demeanor,Broadway producer
Elizabeth McCann soundslike a character in one of heraward-winning plays.
She peppers a con-versation with wisecracks.
“Gettingahead inbusinessmeans havingan ability tocompromise yourconscience, and youget better at it the
older you get,” she says.Later, she expounds, “My parents
were immigrants from Scotland buteveryone thinks I’m Irish, whichmakes me happy because no oneknows how shrewd the Scots arewith a dollar.”
Steel and wit is how the diehardNew Yorker broke into theclubby theater world more than40 years ago and has stayed on topever since. Ms. McCann, 76, hasproduced a dizzying array of hits,including The Elephant Man,
Copenhagen and Who’s Afraid ofVirginia Woolf? She has
won eight Tony Awardsalong the way. Neverone to shy away fromedgy material, Ms.
McCann hasproduced all ofEdward Albee’splays duringthe last 20years.
Ms.McCann’slove affairwith thetheaterbegan at age16, whenher cousintook her to
her firstshow. She
started in thebusiness as a tickettaker, earned a lawdegree from
Fordham, and wasmanaging director
for the Nederlanderfamily before going
out on her own.Among the shows
she produces: the TonyAwards.
—miriam kreininsouccar
A NATURALFOR GASOPERATIONSMary Jane McCartneyConsolidated Edison
Mary jane mccartneydelivers gas to 1.1 millionhomes and offices in New
York City and Westchester. Shedoesn’t drive a truck: For the past14 years, she has served as head ofgas operations at ConsolidatedEdison Co.
It’s her job to assure that asteady flow of natural gas makesits way here from as far away asthe Gulf of Mexico and Canada.During her tenure, natural gasusage has increased 149.5% since
1993.“We really see
gas as a factor inreducing New YorkCity’s carbondioxide footprint,”she says.
Ms. McCart-ney, 59, supervises a team of 1,000people who respond to emergencycalls about gas leaks and build, repairand inspect gas pipes. Her divisionhas shepherded innovative changessuch as the introduction of roboticgas-pipe sealers to minimizedisturbances on New York City’sstreets.
In a field dominated by men,Ms. McCartney commits herself toassisting female colleaguesthrough brown-bag lunch programsand by arranging special workschedules for women returning frommaternity leave. She is proud of the
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENNPamela Liebman Anita Lo Susan Lyne Elizabeth McCann Mary Jane McCartney
W22 | Crain’s New York Business | October 1, 2007
“Youdon’t choosethisindustry; it choosesyou”—Anita Lo
CNYB 10-01-07 A 22 9/26/2007 4:49 PM Page 1
role she plays in the city. “If you flyinto New York and you see thelights,” says Ms. McCartney, “youknow that the work we’re doing iskeeping the city going.”
—adrianne pasquarelli
POWER 25
CHANNELINGPASSIONSJudy McGrathMTV Networks
W hen she was a child,Judy McGrath wanted tobe a conductor. She did
become a conductor of sorts—buther orchestra rocks.
Ms. McGrath, 54, is the chiefexecutive of MTV NetworksCo., which operates 138 cablechannels—including MTV, VH1,Nickelodeon, Comedy Centraland Logo–and more than 270 Websites. With 500 million viewersworldwide, MTV channels are sowidely watched that imams inIslamic countries use them to run
announcementsalerting teens tocome to prayer.
Ms. McGrathjoined the nascentMTV in 1981 asan on-airpromotions
writer and quickly rose through theranks by adopting the company’syouthful, maverick tendencies. Shestill sneaks off at night to watchBeastie Boys concerts in CentralPark.
Her greatest professional pridestems from the extent to whichMTV has established itself as amainstream platform for politicalactivism.
By offering programming likeDarfur Is Dying, Rock the Vote andthe recent Presidential Forum heldon Logo, Ms. McGrath’s networksprovide a voice for kids yearning tochange the world. “We servesuperpassionate fans who are alwaysreaching, always changing,” shesays. “That’s at the heart ofeverything we do.”
—tommy fernandez
POWER 25
TREASURY TENDERHeidi MillerJ.P. Morgan Chase
Heidi miller, chiefexecutive of J.P. MorganChase & Co.’s $9 billion
treasury and securities servicesbusiness, holdsone of the big-gest financialservices jobs inthe country.The business,which servesgovernments,
corporations and financialinstitutions, has custody of$15.2 trillion in assets and handlessome $3 trillion in wire transfersdaily.
In her first year on the job, Ms.Miller exhorted colleagues at anindustry conference to follow theexample of innovators such asPayPal and provide faster, cheaper
and simpler processing forcustomers. The 54-year-oldexecutive has streamlinedJ.P. Morgan Chase’ssecurities servicesbusiness andintroduced newproducts totreasuryservices,whileincreasingrevenues,transactionvolumes andassets undercustody.
Armed withdegrees from Princeton
and Yale, Ms. Miller started hercareer at Chemical Bank in1979, later moving to Travelers
Insurance. She became chieffinancial officer of Citi-group in 1998 when Citi-corp and Travelers merged.Following top-levelstints at Priceline.comand Marsh Inc., shewas named CFO ofBank One; there, she
helped chief Jamie Dimonaccomplish a stunning
turnaround. She assumedher current position whenBank One and J.P. MorganChase merged in 2004.
—judith messina
POWER 25
MAGAZINES’NO.1 FANAnn MooreTime Inc.
For a groundbreakingexecutive who has risen tothe top of her profession,
Ann Moore hasn’t wandered far.The chairwoman and chiefexecutive of Time Inc. since 2002—and the first woman to head thecompany—was hired by the No. 1
magazine publisher straight out ofHarvard Business School in 1978.
She joined for love, not money.Time Inc.’s offer was the lowest ofthe dozen or so that she received,
but Ms. Moore,57, was crazyabout magazines.
Her passionpaid off: By thelate 1980s she wasfounding publisherof Sports Illustrated
for Kids. As president of People from1993 to 2001, she turned TimeInc.’s most profitable publicationinto the launching pad forjuggernauts In Style and Real Simple.
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October 1, 2007 | Crain’s New York Business | W23
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENNJudy McGrath Heidi Miller Ann Moore
“Ifyouflyinto
New Yorkand see thelights, you know ourwork iskeeping the citygoing”—Mary
JaneMcCartney
CNYB 10-01-07 A 23 9/26/2007 4:52 PM Page 1
In 1979, Liz Neumark was a recent Barnard Collegegraduate trying to start acareer as a photographer.But she had a problem:Shewas broke. So she hatcheda plan to launch a catering
outfit that would support her andother female artists.
Great Performances: Artists asWaitresses,which started out as a fi-nancial safety net, has evolvedinto the country’s fourth-largest independent ca-tering firm. The businessgenerated $35 million insales last year.
Great Performancesprovides the food service formany of New York’s major cul-tural institutions, including theBrooklyn Academy of Music,Sotheby’s and Jazz at Lincoln Cen-ter. This year, Ms. Neumark scoredanother coup when she signed a 25-
year contract to cater events in thestoried ballroom of The Plaza whenthe renovated hotel reopens earlynext year.
The Plaza deal is a joint venturewith Delaware North Cos., a giantinternational food service con-glomerate that is providing the fi-nancial muscle. The exclusive gig,which will put Great Performancesat the center of high-society func-tions, is a source of great pride forMs. Neumark.
“I grew up in Manhattan,” shesays. “There are event spaces, and
then there’s The Plaza.”The chief executive nearly
walked away from it all threeyears ago when her 6-year-old daughter,Sylvia,died ofa brain aneurysm.
After a great deal of soul-searching, Ms. Neumark de-
cided to remain active in thebusiness and honor her daughter’smemory by starting The Sylvia Cen-ter, a nonprofit facility on a 35-acrefarm she bought last year. The cen-ter teaches underprivileged children
about agriculture and nutrition.
A lifeline“the farm is life-affirming,”says Ms. Neumark, 51. “Food cre-ates community, and the farm is awonderful extension of that.”
Katchkie Farm, so called forSylvia’s family nickname, providesGreat Performances with fresh pro-
duce—an arrangement that dove-tails with the caterer’s mission of us-ing locally grown food. No othercatering business in the city hasbranched out into farming.
In addition, Ms. Neumark islaunching a line of retail itemsfrom the upstate farm. The first,Thunder Pickles, debuted lastyear; Katchkie Ketchup is being
introduced this month.“Liz is a marketing wizard,” says
Carl Sacks, director of consult-ing for Catersource, which pro-vides education and training tofood professionals. “She has done asuperb job of taking the companyto a position that is unique in theindustry.”
—lisa fickenscher
continued to bolster Time Inc. ascompetition from the Internet hastaken a toll on stalwarts Time andFortune.
With some analysts calling TimeInc. a drag on earnings and a poor fitwithin parent Time Warner, Ms.Moore’s focus now is ontransforming the publisher into amultiplatform content companywith a host of profit-generating Websites. But she still finds time for herfirst love.
“I got to read four magazines onthe way back from an out-of-townmeeting this morning,” Ms. Mooresays. “That’s my work. How lucky isthat?”
—matthew flamm
Liz NeumarkGreat PerformancesSee above
Bridget O’ConnorLehman BrothersPage W26
POWER 25
MARQUEEMEDIA DEALSNancy PeretsmanAllen & Co. LLC
In the hypercompetitiveworld of mergers andacquisitions, Nancy Peretsman
is on everyone’s list of powerplayers. No wonder. Her trackrecord has made her the go-to gurufor Barry Diller and other leadingmedia bosses.
“She thinks like an owner,” saysHerbert Allen, president of affiliateinvestment firm Allen & Co. Inc.,who has known Ms. Peretsmansince she was in college and babysatfor his kids. “She’s got a betterbatting average of being right thananyone I’ve ever seen.”
Ms. Peretsman,53, had planned tobecome a lawyerafter she graduated
from PrincetonUniversity, but she
became disenchanted withthat idea and headed to theYale School of Management
instead. She spent a dozen yearsat Salomon Brothers, where she
led the media investment bankinggroup.
She joined Allen & Co. in 1995,
just as the digital media age wasdawning. As a managing director ofthe investment banking firm, she
has helpedconstructcountless marqueedeals, includingNews Corp.’ssuccessful $5.6billion bid forDow Jones. “It’s
all about timing,” says Ms.Peretsman. “Sometimes it’s thewrong time for a transaction andyou have to tell people that or,conversely, recognize that it’s theright time.”
—judith messina
MUSEUMDIRECTORTHINKS BIGLisa PhillipsNew Museum of Contemporary Art
Eight years ago, LisaPhillips was starting a newjob as director of the New
Museum while curating a hugeexhibition of 20th-century
American art forher formeremployer, theWhitneyMuseum—andwhile pregnantwith twins. Whenher doctor
ordered her to go on bed rest, Ms.Phillips rolled a couch into heroffice and kept working.
It’s no wonder that under her
leadership, the New Museum ispreparing to open a $50 millionbuilding on the Bowery inDecember. The facility, a huge stepup from the museum’s formerlocation in a SoHo storefront, isalready the talk of the art world.Ms. Phillips has also increased theinstitution’s budget to $10 millionfrom $2 million, tripled itsendowment and helped create aboard so desirable that it has awaiting list.
At the Whitney, Ms. Phillipsorganized the first major museumshows in New York for JulianSchnabel, Richard Prince andCindy Sherman, putting thoseartists on the map.
Despite her accomplishments,the 52-year-old native NewYorker—whose secret passion ismeteorology—is restless. “I had alot of recognition early on, butsuccess is something else,” she says.“I keep raising the bar for that oneand re-evaluating what successmeans.”
—miriam kreinin souccar
INSURING BLUE-COLLAR CONNECTIONVikki PryorSBLI USA Mutual Life Insurance
Vikki pryor has quietly andpatiently remade SBLI USAMutual Life Insurance Co.
Once a New York-centric nicheplayer, SBLI is now a leadingfinancial services provider for
America’s working class.Before Ms. Pryor, 53, stepped
into the role of chief executive nineyears ago, SBLI’s products were soldonly in New York banks. Shelaunched training programs for allthe company’s employees,streamlined its offerings and kick-started Web operations. Now the
company’sproducts are soldin 49 statesthrough banks,Web sites andwalk-in customercenters, as well asover the phone.
The company has nearly 400,000policyholders, $16.7 billion ofinsurance in force and $1.5 billionin assets.
Ms. Pryor says she expanded thecompany’s presence in order torevitalize its connection to blue-collar clients, the core of itscustomer base. “Our products arevitally important for the averageperson,” she says. “We are alwaysfocused on how these programsreflect how these families live andwork.”
The executive’s other obsessionis education. Five years ago, Ms.Pryor—a former trial attorney withthe U.S. Treasury—established thePromise Prize, a law schoolacademic award, in memory of hergrandmother.
Business colleagues say that herlow-key personality belies herresolve. “Never mistake herquietness for a lack of strongfeelings,” says Robert Catell of Ms.Pryor, who served on his boardwhen he was chief executive ofKeySpan Corp.
—tommy fernandez
Executive unites catering, culture to hit the big timeLiz NeumarkGreat Performances
NUMBER OF HOURSMs. Neumark spendscooking for her family
“I got to readmagazines onthe way backfrom ameeting. That’smy job. How luckyis that?”—Ann Moore
W24 | Crain’s New York Business | October 1, 2007
buck
enn
is
CNYB 10-01-07 A 24 9/26/2007 4:54 PM Page 1
A SCHOOLFINDS ITSRESTORERJennifer RaabHunter College
When jennifer raab tookover as president ofHunter College in 2001,
the City University of New Yorkhad just scrapped its decades-longopen admissions policy. The uglypublic fight over the change left themorale of Hunter students andfaculty in tatters.
“Departments had been shutdown, and it was hard to attractfaculty,” she says.
The story is different now. Ms.Raab has made the schoolcompetitive in the faculty market byraising $25 million in private
donations forimprovedfacilities, as well asfor professionaltraining programsand scholarships.The college,which has an
annual budget of $170 million and21,000 students, is also mining itsalumni for donations. Additionally,faculty members have received$39 million in research grants inrecent years.
Ms. Raab, 51, married to DailyNews columnist Michael Goodwin,came to Hunter after seven years atthe city Landmarks PreservationCommission as an appointee ofMayor Rudy Giuliani. The formerpracticing attorney served as issuesdirector in Mr. Giuliani’s 1989mayoral campaign.
“Often, the key to success is tochange the culture,” she says.
—tina traster
MET LIFER’SEMPLOYEESTOP PRIORITYEmily RaffertyMetropolitan Museum of Art
Emily rafferty is a Metlifer. She began her career in1975 at the Metropolitan
Museum of Art as a 25-year-oldassistant in the development office.She worked her way up to run theMet’s national and international
fundraising oper-ations, where sheraised hundreds ofmillions of dollarsand addedthousands ofmembers.
Then, threeyears ago, she was named president,the No. 2 position at the museum.
Today, 58-year-old Ms. Rafferty—the first woman to run the Met’sday-to-day operations—oversees2,000 employees, a $190 millionannual operating budget and an$80 million merchandisingbusiness. She is close to wrappingup a $1 billion capital campaign.
Ms. Rafferty’s influenceextends well beyond the Met.She hasmen-toreddozensof mu-seum profes-sionals who havegone on to careersall over the country.Even now, she says, heremployees are her toppriority. “The thing Iworry about the most isthe health and well-beingof the staff,” says Ms.Rafferty, who grewup blocks from theMet. “Our people arewhat make this placecome alive.”—miriam kreinin
souccar
POWER 25
Carol RaphaelVisiting Nurse Serviceof New YorkPage W28
MOVINGPAST ABC’S
OF CABLEAbbe RavenA&E Television Networks
Televisionexecutivesturned up their
noses at showsabout offbeat
topics like druginterventions
and ancientRoman sewers—until
Abbe Raven provedthat such infotainmentcontent wasprogramming gold.
Ms. Raven, a formerteacher, has devoted her23-year television careerto tapping viewers’appetite for shows thatother networks deemedboring or weird. She waspart of the creative team
that launched The HistoryChannel in 1995 andresuscitated the flagging A&ENetwork in 2004 by debutingnontraditional fare such as Dogthe Bounty Hunter, Growing UpGotti and Intervention. “At the
time, these shows were a littledifferent,” Ms. Raven says. “There
was a lot of skepticism about whatwe were doing.”
In 2005, Ms. Raven was namedchief executive of A&E TelevisionNetworks—a $1 billion enterprise
that operates sevenchannels availableto 300 millionviewers. She alsoremains active ineducation: The54-year-oldQueens native
recently served as principal for a dayat her old high school, AndrewJackson, in Cambria Heights, andshe leads a kind of class discussioneach week with small groups of heremployees. “Good ideas come fromeverywhere,” she says.
By now, everyone in thecountry knows Rachael Ray.The Queen of Quick started
a sensation in 1998 when shepublished her first cookbook, 30-Minute Meals. The book evolvedinto a Food Network show of thesame name, which won an Emmy
Jennifer Raab Emily Rafferty Abbe Raven Rachael Ray
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENN
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“Atfirst, theseshows were alittle different.There was a lot ofskepticismabout whatwe weredoing”—Abbe Raven
CNYB 10-01-07 A 25 9/26/2007 4:57 PM Page 1
Bridget o’connor,nicknamed Gadgetby her family, spenther high schoolyears taking aparther car and tinker-ing with early ver-
sions of the personal computer.“I like creating things, fixing
things and understanding howthings work,” she says. “I had everygadget known to man.”
That tinkerer’s talent helped Ms.O’Connor become a major playerin Wall Street technology. As chiefinformation officer and global headof business continuity at LehmanBrothers, she is responsible for thehardware and software that powerthe firm’s business around theworld.
Her greatest challenge is ensur-ing that the firm’s technology servesits bottom line.
“It’s about bringing the possibil-ities of technology to the table,about engineering a relationshipbetween the business guy and thetechnology guy to achieve a com-
petitive advantage,” Ms. O’Connorremarks.
Under her leadership, Lehmancreated LehmanLive, a Web portalthat delivers the company’s productsand services—from trading to em-ployee benefits processing—toclients and employees.
LehmanLive proved crucial fol-lowing the Sept. 11 terrorist at-tacks. Ms. O’Connor, then chieftechnology officer, was among750 Lehman employeeswho escaped from theiroffices at 1 World TradeCenter. But the firm wasshut out of its headquar-ters at the World FinancialCenter, the site of its pri-mary data center and 2,700 di-rect lines to clients.
Back up and runningalthough 5,500 employees wereforced to work from home offices,hotel rooms or borrowed spacearound the city, LehmanLive al-lowed the firm to resume criticalfunctions within days.
Ms. O’Connor continues to liveand breathe the lessons of that cata-strophic time.
“It’s about engineering every-
thing to be always available, alwaysresilient,” she says.
A computer science major,Ms. O’Connor, 43, earned an asso-ciate degree from MiddlesexCounty College in New Jersey.She intended to get a bachelor’sdegree by going to school part-time, but she was diverted fromthat goal by two challenging jobs—the first at an e-commerce
company and the next withAT&T Bell Labs. She
joined Lehman in 1991;in 2002, she was namedCIO.
Among her othertalents, according to her
boss, Lehman President JoeGregory, is the gift of com-
munication.“In a complex world where end
users and technologists rarely speakthe same language, she’s incrediblyadept at bridging both,” he says.
And she’s still acting like Gad-get. She recently hooked up herBlackBerry to the GPS and trackingdevice in her teenage son’s car. Shegets an alert when he goes outsidethe boundaries or exceeds the speedlimits she’s set for him.
—judith messina
Award in 2006. She has sincecooked up a mini-empire.
Food Network’s TastyTravels and a syndicatedtelevision talk show,Rachael Ray, carried by194 stations andreaching 4.3 millionpeople every day.Her cookbooks—12in all—take turnsappearing on TheNew York Timesbestseller list, andher magazine,Every Day WithRachael Ray, has1.3 million readers.Ms. Ray has alsostarted a nonprofit,the aptly namedYum-o, toencouragehealthier eatinghabits inchildren.
In spite of herfull plate, Ms. Ray,39, remains as coolas the cucumber she usesin her spicy no-bakebeans.
“If I only have oneday off every 20 days, it’sOK,” she says. “I knowhow to cram a lot in.”
As the head of the U.S.media group at ApaxPartners, Jacqueline Reses is
one of the few women in theupper reaches of the privateequity world. Earlier thisyear, she led the Apax teamthat won one of the mostcompetitive private equitydeals of recent years: the$7.8 billion acquisition ofThomson Learning, thesecond-largesteducational publisher inthe country.
Ms. Reses has beenapplying her businessinstincts from way
back. When she was 8years old, she
accompanied her father onsales trips and late-nightoxygen deliveries for hismedical supply business.
As president of her highschool class, she invested the
class’s money in a money marketaccount. At the University of
Pennsylvania’s Wharton School, shemajored in entrepreneurialmanagement and marketing.“Entrepreneurialism is in my blood,”says 37-year-old Ms. Reses.
Her first job after Wharton wasat Goldman Sachs, where sheworked in mergers and acquisitions.
But her desire to do somethingentrepreneurial was irrepressible.She left Goldman, eventually going
to head atechnologystartup. In 2001,she joined Apax—a leading privateequity firm, withmore than $20billion under
management—and a year later, shefounded its U.S. media group.
—judith messina
A&R EXPERTBREAKSBARRIERSSylvia RhoneUniversal Motown Records
When sylvia rhone wasnamed chairman ofAtlantic’s Elektra
Entertainment Group in 1994, theveteran music executive achievedtwo industry milestones: Shebecame the first woman and the firstAfrican-American to be tapped torun a major label.
Ms. Rhone has been breakingground for years. At Elektra, sheguided the delicate merger ofElektra, East West and Sire Recordsand fashioned one of Warner MusicGroup’s most competitive labels. Shealso mentored young female andminority executives, promptingTime Warner Chairman DickParsons to comment, “The ElektraEntertainment Group was one ofthe most actualized examples of
diversity in action at a company thatI’ve ever seen.” Now, she is doing thesame thing as president of UniversalMotown Records, where shemanages a staff of 200.
Ms. Rhone—born and raised inHarlem—has been recognizedthroughout her career for her abilityto spot and nurture great artists. Herroster at Motown fuses legends likeStevie Wonder with new stars
India.Arie, ErykahBadu and Lil’Wayne. The 55-year-old Ms.Rhone, a Whartongraduate, holdsdozens of careerawards and has
taken the lead in a series ofcommunity causes, ranging fromrebuilding burned churches tosupporting the Alvin AileyAmerican Dance Theater.
—samantha marshall
FROM BRAINYBANKER TO BUYOUT BOSSJulie RichardsonProvidence Equity Partners
There weren’t a lot of tele-communications deals beingdone when Julie Richardson
cut her teeth in investment banking atMerrill Lynch 20 years ago. But theones she did prepared her for the frontlines when giant telecom transactionsstarted to pop in the 1990s.
“I was 27 and had done a coupleof deals and suddenly, I became a
de facto telecom person,” she says.Ms. Richardson continued to
sharpen her credentials. She leftMerrill Lynch in 1998 for J.P.Morgan, where she eventuallybecame chair of the telecom groupand a banker to heavyweights likeAOL Time Warner and Verizon.She was J.P. Morgan’s lead bankerfor Comcast in that company’s$72 billion hostile takeover ofAT&T’s broadband business.
Former colleague Robert Kindler,who worked with her on that deal,says she was one of the best bankers
in the business.“She’s clearly thesmartest person inthe room,” says Mr.Kindler, now vicechairman ofMorgan Stanley.
Ms. Richardson,44, now heads the New York officeof buyout firm Providence EquityPartners. In 2005, she led a Prov-idence team in the $11.3 billionbuyout of software maker SunGard.“Twenty years into it,” she says, “Istill love what I do every day.”
—judith messina
POWER 25
GRAY LADY’SWEB POWERJanet RobinsonThe New York Times Co.
Janet sees where the mediabusiness is going,” says JanetRobinson’s boss, Arthur Sulzberger Jr., publisher of The
“My job isaboutengineering arelationshipbetween thebusiness guy and thetechnologyguy”—BridgetO’Connor
6,000NUMBER of employeesand consultants Ms.O’Connor manages
worldwide
CNYB 10-01-07 A 26 9/26/2007 4:59 PM Page 1
New York Times. “She knows how totranslate all we do in print for adigital audience.”
Ms. Robinson, 57, worked herway up through the ranks over aquarter of a century with the paper.Chief executive of The New YorkTimes Co. since 2005, shespearheaded the acquisition of
About.com andother Internetproperties. Digitalrevenues havegrown to 10%from 4% of thetotal since 2004,and The Times’
Web site has more unique visitorsthan any other newspaper’s,according to Nielsen//NetRatings.
These are challenging times topreside over a traditional mediacompany adapting to a digitalenvironment—and perhaps nooperation is under more scrutinythan The Times. Ms. Robinson led a$200 million cost reduction thatincluded consolidating printingplants, trimming paper size andcutting staff.
“I’m focused on running thecompany for the benefit ofshareholders and making sure wetransition to the digital age asquickly and effectively as possible.”Rupert Murdoch’s acquisition ofThe Wall Street Journal—the nation’sother great national paper—makesher task even more urgent.
—tina traster
CHARITY’SBOTTOM-LINEENFORCERJudith RodinThe Rockefeller Foundation
As president of TheRockefeller Foundation,Judith Rodin controls a
$3.7 billion endowment thatdispensed $147.5 million last yearfor urban and agriculturalredevelopment in 34 countries. Butwriting checks is not the only wayshe makes her presence felt.
“There’s more to charitablegiving than giving,” saysDr. Rodin, who hasshaken up the 94-year-old institution sinceshe took the helm twoyears ago. “We’relooking for
accountability,transparency andnimbleness so thatwe can change aproject midstreamif we’re not seeingresults.”
After cleaninghouse and hiringher own team,Dr. Rodinbeganemphasizingbig projects,like a$12.5 milliongrant to helprebuild NewOrleans
and a $50 million commitmentwith the Bill and Melinda GatesFoundation to enhance cropproduction in Africa. Thescattershot approach, in which shesays the foundation dispersedmoney through “too many small,unrelated grants,” has beenjettisoned.
Dr. Rodin, 63, developed herbottom-line leadership style duringher 10 years as president of theUniversity of Pennsylvania, whereshe returned a money-losingmedical center to profitability.“Grant-making today must beconditioned on performance,” shesays.
—tina traster
A KNOWINGVOICE FORLATINOSRossana RosadoEl Diario La Prensa
The publisher of El DiarioLa Prensa since 1999, RossanaRosado is one of the most
prominent voices for Latino NewYorkers. She has steered the shipthrough a stormy time. During hertenure, the daily newspaper hasbeen sold and resold, most recentlyto ImpreMedia Co., which earlier
this year alsoscooped up rivalSpanish-languagepaper Hoy NewYork from theTribune Co.
“Othernewspapers have
made the mistake of becomingdisconnected from their readers,”says John Paton, ImpreMedia’schief executive. “Rossana has anintense local focus.”
Ms. Rosado, 46, started at the paper as a reporter and laterbecame its editor. El Diarionow generates annual revenue of $22 million, and nationaladvertising sales have risen 28% in three years. The paper has acirculation of 50,000 and reachesmore than 295,000 readers.
Both those measures havegrown over the past two years as
many newspapers watchedreadership decline.
Her access to governmentofficials, nonprofits and
community groups has given Ms.Rosado leverage “to represent acommunity that hasn’t hadinfluence and power,” she
says.Her newfound clout—
and that of her readers—islikely to only keep growing.
—tina traster
POWER 25
FILM BUFFON A ROLL
Jane RosenthalTribeca Productions/TribecaEnterprises
Jane rosenthal is thebusiness brains behind thewheel of New York’s mostfamous taxi driver: Robert De
Niro. The duo, who foundedTribeca Productions in 1989, has
produced 22 movies.Perhaps Ms. Rosenthal’s most
important contribution to the city,however, came in the wake of theSept. 11 attacks. She and Mr. DeNiro, along with Ms. Rosenthal’shusband, real estate financier CraigHatkoff, launched the Tribeca FilmFestival to help revive downtown.
“As filmmakers, the only thingwe knew how todo was to screenpictures,” says Ms.Rosenthal, 50.
The firstfestival, in 2002,attracted 150,000visitors. The event
has grown into an annualcelebration of worldwide film andculture that most recently broughtin 500,000 people for screenings,concerts, family events and paneldiscussions.
“We are everybody’s festival,”says Ms. Rosenthal. “You don’t justhave to be in the movie industry tocome to TriBeCa.”
In addition to her dealingsdowntown, Ms. Rosenthal is activein Democratic Party politics as afundraiser—she’s backing Sen.Hillary Clinton for the 2008presidential race. Top mayoral aide
Patricia Harris, who has workedwith Ms. Rosenthal since the firstfestival, says, “Anytime the cityneeds her help, she is always readyto lend a hand.”
Daryl roth has producedfive Pulitzer Prize-winningplays, including Wit and
Proof. She has received two TonyAwards and countless nominations.When fellow producers have a hotproject, they call Ms. Roth first,teaming up with her on hits like TheYear of Magical Thinking and Curtains.
Ms. Roth, a former interiordesigner who is married to realestate magnate Steven Roth,achieved her clout through tenacity.“I had no fear of failing,” she says. “Istill remember feeling I had to justkeep looking forward and refuse to
listen to people who weren’tencouraging.”
It has been nearly 20 years sincethe 63-year-old producer put on herfirst show and fulfilled a lifelongdream. Now a major force on andoff Broadway, the New Jersey nativehas a reputation for finding high-quality work and supportingemerging talent. A few years ago,
Ms. Roth startedan annual theaterfund, allowinginvestors to puttheir money intowhatever projectsshe chooses for theseason. They trust
her to make the calls.Her influence is felt offstage, as
well. In 1996, she bought a formerbank building on Union Square andturned it into a theater. The DarylRoth Theatre has been a majorcatalyst in making theneighborhood a destination.
—miriam kreinin soucar
Faiza SaeedCravath Swaine & MoorePage W30
Judith Rodin Rossana Rosado Jane Rosenthal Daryl Roth
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENN
October 1, 2007 | Crain’s New York Business | W27
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GETTING BAD RESUMES FROM THE OTHER GUYS?
(There’s a use for them after all.)
“Grant-making must beconditioned onperformance”—Judith Rodin
CNYB 10-01-07 A 27 9/26/2007 5:02 PM Page 1
POWER 25
Carol RaphaelVisiting Nurse Service of New York
After graduatingfrom Harvard Uni-versity’s John F.Kennedy Schoolof Government,Carol Raphaelcould have moved
into a career as a health care policywonk.But she didn’t want to be a re-former on the sidelines. She wantedto go “eyeball to eyeball” with thepeople she served.
She’s been on the front lines eversince. Today, as chief executive ofthe Visiting Nurse Service of NewYork, she oversees more than 12,000employees and a budget of nearly$1 billion. During her 15 years atthe helm, VNSNY has become thenation’s largest nonprofit homehealth care organization.
“She’s been able, year after year,to look into the future and comeup with the right direction forVNSNY,” says former board ChairCarl Pforzheimer III.
Ms. Raphael, 65, who was for-merly a public school teacher and
principal, is the first non-nurse tohead 114-year-old VNSNY. Af-ter getting her master’s degree inpublic policy, the Brooklyn nativeworked for Mayor Ed Koch, head-ing the city’s $1.4 billion Med-icaid program and other programssuch as home health care and publicassistance.
Her intense time in City Hallwas formative.
“It’s very easy to be divert-ed by putting out anotherfire or trying to address an-other crisis,” she says.“Butyou can’t take your eye offwhat you want to endure:building the infrastructureand capacity of an organiza-tion that will outlast you.”
Sound and sophisticatedms. raphael has made VNSNY amodel of sound fiscal managementand technological sophistication.Using a system patterned after thatused by FedEx,VNSNY nurses car-ry mobile computers for enteringpatient data. Soon they will be ableto use the devices to communicateand exchange data with patients’physicians.
The CEO has also instituted rig-
orous performance measurementsand accountability standards,and shehas set up a research division to testnew approaches to health care. Lastyear, VNSNY opened a hospice. Italso operates a long-term-careHMO, one of the first in the nation.
Thanks to Ms. Raphael’s suc-cesses at VNSNY, she is in demandamong policy-makers. She has beena member of MedPAC, which ad-
vises Congress on Medicarepolicy, and now serves on an
Institute ofMedicine work-force committee. She wasrecently elected chair ofthe New York eHealth
Collaborative, which aimsto increase the use of tech-
nology and information-sharingacross health care organizations.
Ms. Raphael now spends muchof her time positioning VNSNYfor a future in which demand forhome health care and other servicesfor aging baby boomers is expectedto soar.
“We have to be careful that wegrow in a way that provides care in aquality way—that we’re not expand-ing at the expense of things thatmatter,” she says.
—judith messina
OUT IN FRONTAT BROKER’S BACK OFFICEDiane SchuenemanMerrill Lynch
working at night as a billing clerkwhile she was still in high school. Itwas an inglorious beginning forsomeone who now, as head of globalinfrastructure solutions, runs theback office of the nation’s biggestbrokerage. She manages services,operations, technology andinformation security for the firm,which has net revenues of$35 billion.
Ms. Schueneman, 55, is one of ahandful of womenin top technologyjobs on WallStreet. Her rise atMerrill began in1971 when,lacking the moneyto finish college,
she parlayed her early jobs there intoa position in fixed-income sales.Over the next 33 years, she headednumerous businesses.
She oversaw a $1 billion overhaulof brokers’ workstations, a watershedaccomplishment that experts say hasgiven Merrill a several-yearadvantage over its competitors.
In 2004, she won her current job.The continuing challenge, she says,is keeping up with change.
“If you’re going to be in our
business, you have to be agile andrecognize a changing trend earlyon,” she says.
—judith messina
HIGH STEPSOF A FASHIONFABULONKimora Lee SimmonsBaby Phat
Over a decade, this 32-year-old former supermodel andhip-hop style icon has
turned herself into a one-womanfashion powerhouse.
In 2004, Kimora Lee Simmonsand estranged husband RussellSimmons sold their company, BabyPhat Fashions, to apparel giantKellwood Co. for $140 million. Ms.Simmons is now creative director ofBaby Phat by Kimora Lee Simmons(part of Baby Phat Fashions) and
controls thelicenses for manyof its products—licenses thatgenerated $750million in retailsales last year.
She has aSoHo boutique and several otherstores internationally, and recentlylaunched the KLS line.
Ms. Simmons’ book, Fabulosity:What It Is and How to Get It, wasreleased in August. And her realityTV show, Life in the Fab Lane, isnow airing on the E! network. “I’mthe example for young women on
the go,” declares Ms. Simmons, whosays she sleeps four hours a night.
She is also melding her businesspursuits with her advocacy foranimal rights.
“I’m trying to make my clothingline 100% fur-free,” she says. “I’malmost there.”
—tina traster
A RECORD-SETTER,ONHER TERMS Darcy StacomCB Richard Ellis
Five years ago, Darcy Stacomleft Cushman & WakefieldInc., where her father and
older sister are top real estatebrokers, for its biggest competitor.“I wanted the opportunity to provemyself,” says Ms. Stacom, vice chairof CB Richard Ellis Group.
And prove herself she has, inspades. Late last year, Ms. Stacom,who specializes in commercial deals,brokered the record-breaking$5.4 billion sale of Stuyvesant Town
and Peter CooperVillage to TishmanSpeyer Properties.
It was the latestin a string ofsuccesses. Knownas an innovator instructuringtransactions, Ms.
Stacom, 47, was the top brokerworldwide for CB Richard Ellis in2005 and 2006, with $11 billion in
sales in 2006 alone. She continues tobreak ground by expanding her15-member team’s practice to theother boroughs.
Her involvement in civic lifeincreases along with her status. Ms.Stacom serves on the board of one ofthe city’s largest hospital systems,Continuum Health Partners, andplayed a role in efforts to lower realestate taxes and create incentives forcompanies to move downtown.
—elizabeth macbride
PROPUTS ITON LINE Tara StacomCushman & Wakefield
The elder of two sisters in afamily of influential real estatebrokers, Tara Stacom, vice
chair at Cushman & Wakefield Inc.,has brokered leases for millions ofsquare feet of space.
Over a 20-year career, she hasworked with some of the city’s mostimportant companies, includingColgate-Palmolive Co., J.&W.Seligman & Co. and the Bank ofNew York. She also works on thelandlord side, managing the leasingof 10 million square feet.
Within two weeks after Sept. 11,Ms. Stacom had tapped herknowledge and store of goodwill tofind temporary offices for 4,000Bank of New York employees.
“I gave my handshakepersonally for a warehouse full of
furniture,” sherecalls.
Ms. Stacomwas Cushman’sNo. 1 producer in2004—the firstwoman to achievethat spot—and
continues to be a top broker at thefirm, which did $9 billion worth of
deals inManhattan lastyear. As amember of thecompany’s
board ofdirectors,she hada hand
in the
recentdecision to
sell amajoritystake to theIFILGroup ofItaly.
MsStacom,49, isdeeplyinvolved in
Girls Inc., aNew York-basednonprofit thataims to give girlsnationwide theconfidence to takeon challenges.
careful togrow in a way thatprovidesquality care”—CarolRaphael
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LOW-PROFILECITY SHAPERMarilyn Jordan TaylorSkidmore Owings & Merrill
Architect marilyn jordanTaylor is the main force be-hind Columbia University’s
ambitious Manhattanville develop-ment, the East River Waterfrontmaster plan and the new interna-tional arrivals terminal at John F.Kennedy airport. For someone whois shaping the landscape of NewYork, Ms.Taylor keeps a low profile.
“I’m not really interested in beinga ‘starchitect,’ ” says Ms.Taylor, part-ner and head of the urban designand planning practice at SkidmoreOwings & Merrill. “My hope is tobe an effective advocate for making
the city a betterplace foreveryone.”
Ms. Taylor,who grew up inMontezuma, Iowa(pop. 1,432), hasachieved that goalfor clients
worldwide since joining SOMnearly 40 years ago. In 2005, she wasappointed chair of the Urban LandInstitute, the first woman and thefirst architect to head theprestigious research organization.
The 60-year-old’s passion forher profession has made an impactat home, too: Her son is going toarchitecture school, and herdaughter has an urban studiesdegree. But despite Ms. Taylor’slove for cities, when she really wantsto relax, she heads to her log cabinin New Hampshire.
—miriam kreinin souccar
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AT THE HEADOF A GIANTMary Ann TigheCB Richard Ellis
Mary ann tighe, 59, is incharge of one of New YorkCity’s largest commercial
real estate services operations.She was a star broker for Insignia/
ESG before she became local chiefexecutive of CB Richard EllisGroup five years ago, just monthsbefore the two firms merged, andended up running both. Ms. Tigherecruited other stars while firinglaggards, and revamped thecombined firm to emphasizeteamwork and mentoring.
CB Richard Ellis’ tristate opera-tion has more than 1,000 employeesand completed $36.8 billion worthof sale and lease transactions in 2006.Ms. Tighe, who has a backgroundin arts and entertainment and was aTV executive at ABC before gettinginto real estate, is altering thecityscape. Her deal-making broughtCondé Nast to Times Square andthe New York Times Co. to its new
building onEighth Avenue.
A leader in re-populating down-town, CB RichardEllis filled giant 55 Water St., andone of Ms. Tighe’s
clients, the New York Academy ofSciences, was the first company tosign a lease at 7 World TradeCenter. “You always need someoneto believe first,” she says. Often, thatperson has been Ms. Tighe.
—elizabeth macbride
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CFO DIALS FOR DOLLARSDoreen TobenVerizon Communications
Doreen toben has someadvice for young womenhankering for big jobs.
“Stop thinking it’s because you’re awoman that something hasn’thappened to you,” she says. “Youhave to be a risk-taker; you have todo tough jobs and produce results.”
The 57-year-old chief financialofficer of Verizon CommunicationsInc. follows her own advice everyday. She regularly awakens at 3 a.m.to work out and read analysts’reports. Last year, she structuredVerizon’s $8.5 billion acquisition ofMCI, and under her leadership,Verizon has reduced its debt andpumped money into the key areas ofwireless broadband and fiber. Shenow spends much of her time onstrategy, helping to position thecompany in a telecom sector roiledby new entrants and newtechnologies.
Ms. Toben’s introduction to thetelecom businesscame in 1972,when, as a collegegraduate lookingfor a job in a toughmarket, she founda position inAT&T’s treasury
department. From there, she movedto Bell Atlantic, a Verizonpredecessor, where she oncemanaged the crews that dug ditchesand manned switches.
Later, as controller and CFO,she played a key role in a series ofmergers that led to the formation ofVerizon in 2000. She was namedCFO in 2002.
—judith messina
DYNASTYESTABLISHEDON A DRESSDiane von FurstenbergDiane von Furstenberg Studio
Reinvention is the name ofthe game in fashion, andDiane von Furstenberg has
made a career of it. After selling herfirst company and moving to Parisin 1985, she stopped designingclothes and founded a French-language publishing house.
She rebooted in 1997, launchingher new company and reintroducingher signature wrap dress for a newgeneration of fans. The Studio,which forecasts revenue of $200 million for 2007, sells to boutiques andspecialty stores in 57 countries.
“When I licensed my brand, Ilost control,” says Ms. vonFurstenberg, 60. “The brand lost itspoint of view.” Today, she sells acomplete collection of women’ssportswear, handbags and shoes.Her business partners are her
children, Tatiana and Alexandre,and her second husband, mediamogul Barry Diller.
Ms. von Furstenberg, who wasnamed president of the Council ofFashion Designers of America last
year, was on thecover of Newsweekat age 28 and laterhelped pioneer TVshoppingchannels.Success is notabout fame,
though, she says. “You have to havean honest product.”
—tina traster
RADIO CHIEFRESCUESSTATIONLaura WalkerWNYC Radio
Laura walker rescuedWNYC Radio.Twelve yearsago, the municipal-owned
station was suffering from neglectand the city was ready to unload it tothe highest bidder. Ms. Walker, 49,came aboard as chief executive andhelped raise $20 million andestablish a foundation to buy thestation.
She has since transformed theoperation: The audience of the AMand FM station has risen 43% and isthe largest for any public radiooutlet in the country. WNYC Radiois doubling the size of its newsroomand moving out of its famouslydilapidated quarters at 1 Centre St.
to a new facility inHudson Square. Itproduces nationalshows such as Onthe Media and isramping up itsprogrammingefforts by
partnering with Public RadioInternational to create a morningnews program this fall aimed atyounger listeners.
Under Ms. Walker, WNYChas developed a distinctive voicein a noisy media marketplace.“We’re doing something whichNew York is thirsting for,” shesays. “And we’re doing it in away that fits with thelifestyles of New Yorkers.”
—adriannepasquarelli
PEOPLEPOWER: IT PAYSLisa WeberMetLife
Lisa weber runs anaverage of 43 miles aweek on the streets
of New York—starting at3:45 nearly every morningbefore work—and sheparticipates in twomarathons a year. Sheshows the same staminaas president of MetLifeInc.’s retail business,which has $18 billion insales and 20,000employees.
Ms. Weber, 44,spends little
time in her office. She’s usually outin the field, meeting with managers,financial advisers and supportstaffers. She watches how theywork, listens to what makes themfrustrated and encourages them tooffer suggestions about how she canmake their jobs easier.
The executivelearned the valueof humanresources whileserving asMetLife’s chiefadministrativeofficer from 2001
to 2004. “Anyone can copy aproduct or service. No one cancopy the power of your people,”Ms. Weber points out. “Always beout there: That’s my managerialstyle.”
All that sweat and all thosemiles have translated into majorboons for MetLife. Annualoperating earnings for thecompany’s retail business—including individual, auto and homepolicies—have reached roughly$2 billion, up 50% since Ms. Weberbecame president three years ago.She has aggressively increased herdivision’s third-party business andoverseen the integration of two bigacquisitions.
Now she is setting her sights onthe ultimate long-distance race: thecourting of America’s explodingretiree market.
—tommy fernandez
POWER 25
TEACHERS’FAVORITERandi WeingartenUnited Federation of Teachers
The president of the UnitedFederation of Teacherscommands an army of
160,000 active and retired New YorkCity teachers and other educationprofessionals.To get what she wants,Randi Weingarten uses a tireless
advocacy, loud voice and deftskill for craftingpartnerships with cityofficials.
Since 2002, theUFT has raised salaries
for union-representedemployeesby 43%.“We mustcontinue todebate how
to bringteachers therespect theydeserve,” shesays.
Whiletrying to gaingreaterstewardshipof schoolsfor educatorsand parents,Ms. Wein-garten con-tinues to
lobby for fair wagesand better conditions forteachers. “Our salaries were
not competitive with thosein the suburbs,” she says.
Before taking the helm, Ms.Weingarten, 49, spent 12 years asa lead contract negotiator forUFT. She is also vicepresident of the
1.4 million-member AmericanFederation of Teachers and is ready
to assume broaderresponsibilitythere, saying, “Iwould accept therole of president ofthe AFT if asked.”
One of thecity’s most
powerful union forces, Ms.Weingarten serves as vice presidentof the New York City Central LaborCouncil and head of the MunicipalLabor Committee.
—tina traster
MAVENOF MEDIA MEASURINGSusan WhitingNielsen Media Research
Susan whiting helped makecable television a mediapowerhouse. As a young
innovator at Nielsen MediaResearch Inc. in the 1980s, shehelped created the rating systemsthat allowed sponsors to track cableviewers and consequently gain theconfidence they needed to spendbillions of dollars on advertising.
It was a labor of love for Ms.Whiting, who joined Nielsen rightout of college 29 years ago. “Wewere basically running with ideas assoon as we developed them,” shesays. “We were helping a wholeindustry build itself.”
That industry turned on her in2005, whenNielsen’s newdigital metersreported ratingsfor some channelsthat were lowerthan previousmeasurements.
Media executives lobbied pol-iticians to intervene, and Ms.Whiting had to testify in supportof the new systems at twocongressional hearings. Sheeventually won the war and gained
political allies.In January, 51-year-old Ms.
Whiting was named chair ofNielsen Media Research andexecutive vice president of
The Nielsen Co., its Dutchparent. These marketresearch companies areactive in more than 100countries, with over38,000 employees. Theycollect data on everytelevision show in theUnited States and morethan 70% of global Inter-
net activity, and they trackbox-office grosses for morethan 50,000 movie screens.
—tommyfernandez
STYLE’SARBITER
Anna WintourVogue
The feared andrevered editor in chiefof the world’s leading
fashion magazine, AnnaWintour, has used her
Marilyn Jordan Taylor Mary Ann Tighe Doreen Toben Diane von Furstenberg Laura walker Lisa Weber Randi Weingarten Susan Whiting Anna Wintour
110000 MMOOSSTT IINNFFLLUUEENNTTIIAALL WWOOMMEENN
POWER 25
“I’mnot reallyinterested in being a‘starchitect’ ”
—MarilynJordanTaylor
“When Ilicensedmy brand, I
lost control.The brand lost itspoint of view”—Diane vonFurstenberg
October 1, 2007 | Crain’s New York Business | W29
CNYB 10-01-07 A 29 9/26/2007 5:39 PM Page 1
Nina zagat has always lovedrestaurants, but she’s neverbeen very fond of food-
establishment critics and theiroutsize influence.
She and her husband, Tim,started Zagat Survey nearly 30years ago, in the belief that theirwine-club friends could revieweateries as well as anyone. ZagatSurvey has since brought power tothe people in the world of diningand leisure.
Ms. Zagat, who was a practicingattorney when the company was
launched,mimeographedsurveys andcollected reviewsby hand, oftenworking throughthe night. She alsoreviewed hundreds
of restaurants herself.“We really believed in the
idea,” Ms. Zagat says. “We wereconfident that regular people weresavvy enough to decide what theyliked and didn’t like all bythemselves.”
Their labor of love has paid off.Zagat Survey employs 120 people inNew York and is growingaggressively. Zagat.com, launched in1999, allows users to access reviewsof more than 30,000 restaurants,hotels, nightclubs and otherattractions in 104 countries. Ms.Zagat brainstorms and tests ideas,while her husband and co-chairserves as front man andadministrator. Not a day goes bywithout leisure-loving peoplethanking 65-year-old Ms. Zagatpersonally for the chance to beheard.
—tommy fernandez
authority to turn the title into aproduct line. Condé Nast has addedTeen Vogue, Men’s Vogue, and VogueLiving. The family of magazinesgenerated $500 million in adver-tising revenue in 2006, according to
PublishersInformationBureau, and theSeptember 2007issue of Vogue, at840 pages, wasthe largestconsumer
monthly ever.“Vogue is a powerful
brand, but we need tomake sure we don’tdilute it,” says Ms.Wintour, 55,whose signaturedark glasses andblunt bob haveestablished apublic persona ofelusive iciness. Themagazine has legs, shesays, because “we don’ttalk down to readers, andwe haven’t given in totabloid journalism.”
The British-born editorheld a series of jobs atHarpers & Queen, Harper’sBazaar, British Vogue, NewYork and Home & Gardenbefore taking the top spotat Vogue in 1988. Ms.Wintour, who has raisedmore than $12 millionfor AIDS research andmore than $31 millionfor the MetropolitanMuseum of Art’sCostume Institute, findsrefuge in her Long Islandgarden.
“Landscapes are good for thesoul,” she says.
—tina traster
CEO RIGHTS A BANK ON
THE BRINKDeborah WrightCarver Bancorp
In 1999, DeborahWright becamechief executive of
an institution on theverge of blowing up.Carver FederalSavings Bank, asubsidiary of Carver
Bancorp Inc., hadwritten off millions of
dollars in bad loans andwas the target of ahostile takeover bid.
With the support ofthe city’s businessleaders, Ms. Wright wasable to weather the proxy
battle, and she began aturnaround. Since then,Carver has nearly doubledits assets and has become
profitable.“She has turned it into the
most successful African-American-owned bankinginstitution in the country,” saysKathryn Wylde, president ofthe Partnership for New York
City, a network of localbusiness leaders. “But forDebbie Wright, Carver
would have disappeared.”
Born in NorthCarolina, Ms.Wright settled inNew York Cityafter attendingbusiness and lawschool at HarvardUniversity.
She went to work for thepartnership, where she led themarketing of its first projectpromoting affordable-homeownership: Towers on the Park inHarlem. She later served ascommissioner of housingpreservation and development underMayor Rudy Giuliani and then asthe head of the Upper ManhattanEmpowerment Zone.
When she joined Carver, shesaved the institution with swiftaction, closing unprofitablebranches and recruiting talentedmanagers. And Ms. Wright, 49, isnot finished. “We have to be bigger,”she says. “There’s a certain scale andlevel of innovation that’s required ofsmall guys to beat the big guys attheir game.”
—judith messina
TAKING CAREOF THE CITY’SBUSINESSKathryn WyldePartnership for New York City
As chief executive of thePartnership for New YorkCity, Kathryn Wylde is one
of the city’s most powerful advocatesfor business.
Ms. Wylde is also a civic leaderwho assisted in the city’s recoveryafter Sept. 11 and helped MayorMichael Bloomberg gain controlover the public schools. At 61, sheworks for the city’s future bychampioning the mayor’s sustain-
ability programs,including his planto alleviate trafficcongestion.
An expert inhousing andeconomic devel-opment policy,
Ms. Wylde has given the partner-ship—made up of 200 chief execu-tives—a wide reach. “We redefinedourselves as a credible source ofinformation and support for thecity’s broader interests,” she says.
The New York City InvestmentFund, the organization’s economicarm, has raised more than$100 million for such projects as theEast River Science Park’s biotechcenter. It also maintains a $2 millionfund for loans to nonprofit arts andcultural groups.
“Kathy has both the knowledgeand the drive to get things done,”says Time Warner CEO RichardParsons. “That’s not easy in NewYork City.”
—tina traster
LETTINGEVERYBODY BE A CRITICNina ZagatZagat Survey
W30 | Crain’s New York Business | October 1, 2007
Faiza saeed, one of12 female partnersat law firm CravathSwaine & Moore,has helped hammerout some of themost significant
mergers and acquisitions of the pastdecade.
Ms. Saeed, 42, was lead counselfor Vivendi in the three-way, $46billion transaction with Seagramand Canal+ Group that gave birth toVivendi Universal. Ditto for the$12.5 billion merger between Lycosand Terra Networks. She also han-dled the $4.1 billion initial publicoffering of entertainment goliathDreamWorks.
One of the keys to Ms. Saeed’ssuccess is her understated style ofdeal-making. Navigating a mergeror acquisition may traumatize herclients; she has seen people yell andpound tables, and she has gotten hershare of panicked late-night calls.Ms. Saeed stands out by remainingcalm and unruffled.
“You don’t ever want the deal
to become about you,” she says.“Whether someone on the otherside is irritating or pleasant is irrele-vant. You have to find a way to workwith everyone.”
Ms. Saeed—now in her ninthyear as a partner at Cravath, a firmwith 400-plus lawyers—adds that itpays to appreciate the fact that cor-porate negotiations are rife withtwists and turns.
“There is so much compli-cated give-and-take in anydeal,” she notes. “It’s likemaking goulash.”
Creating cloutms. saeed’s intellectualbackground also helps ex-plain how she has gained suchclout so early in her career. Shestudied molecular biology atthe University of California, Berke-ley and dreamed of unraveling thesecrets of the human genome. Themental training she received in theseacademic studies now help her han-dle mergers in the media sector.
“Technology is such a big driverin this industry,” she says.
While at UC Berkeley, she alsomajored in economics, which hasproved valuable as she vets deals,
looking for any problems that couldcause the resulting businesses tocrater. She finished her education atHarvard Law School.
Her gifts make her an invaluablecorporate adviser, says KatherineKendrick, corporate counsel forDreamWorks Animation.Ms.Saeedhas played an instrumental role inevery transaction the company hasdone over the past decade, Ms.
Kendrick says.Jeffrey Katzenberg, chief
executive of DreamWorksAnimation, says Ms.Saeed’s contribution to hisbusiness goes well beyond
providing legal counsel.“She is a strategic partner
whose input is sought before wemake many of the critical businessdecisions impacting our company,”he says.
When not constructing mega-deals, Ms. Saeed is busy counselingforeign leaders through the WorldEconomic Forum. The Geneva-based group brings together aca-demics, politicians and other ex-perts to tackle the thorny issues ofglobal poverty. Last year, the groupnamed her a “young global leader.”
—tommy fernandez
Unflappable attorneyhas M&A in her DNAFaiza SaeedCravath Swaine & Moore
VALUE of TimeWarner/AOL merger, in which Ms. Saeed
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counterparts have not. I think thesame is true for their working-agedaughters. We have a long way togo.We won’t get there without ac-knowledging reality: The rungson the corporate ladder are stillslippery for manywomen.
Consider howmany of the womenon the list have cho-sen alternative routesto success, beginningwith sales and salesmanagement.
Once allowed tosell, women couldshow their stuff be-cause the numbersspoke for themselves.No qualitative assess-ments were necessary.The crack in the door was all thatwas needed for real estate world-beaters such as Faith Hope Con-solo, Dottie Herman, PamelaLiebman, Mary Ann Tighe andDarcy and Tara Stacom. JanetRobinson, chief executive of TheNew York Times Co., and Cath-leen Black, president of Hearst
Magazines, also have sales back-grounds.
Others among the Crain’s 100women eschewed corporate lifeand are entrepreneurs or run non-profit organizations. Entrepre-
neurs such as MarianGoodman, ElizabethMcCann, VeronicaHackett and StefaniGreenfield chartedtheir own courses andtrusted their fate tothe judgment of themarketplace. It ap-proved.
Nonprofit organi-zations have longbeen more hospitableto women in the exec-utive suite. That’sprovided an avenue
for the notable accomplishmentsof people such as Pamela Brier,Ellen Futter, Jennifer Raab andThelma Golden.
Admittedly, some of the city’slargest companies have promotedwomen. At MetLife, Citigroup,J.P. Morgan Chase, Verizon,Morgan Stanley, Merrill Lynch
and Lehman Brothers, womenhold high-powered positions.But only Andrea Jung heads aFortune 500 company. One fac-tor, beyond men’s comfort levelwith other males, surely must bethe demands of family life forwomen with children.
Most working mothers faceproblems at some point in ar-ranging child care, findingenough time for their children,coping with fatigue and the de-mands of their employers. Forthose with career aspirations,the problems are compounded.Young, early-career couples andsingle moms are often unable toafford or house 24-hour, live-incaregivers.
Advocacy organizations havelong argued for corporations tomaximize their investment inmanagerial-level women throughmeasures such as flexible hours, jobsharing and reasonable parentalleave. Corporate acceptance hasbeen mixed.And womenwho availthemselves of family-friendlypolicies often find their upwardprogress thwarted. Women whostep off their career tracks duringchild-bearing years frequentlyfind it difficult to get back on.
Life in upper management isgrueling.Neither government norcorporations can require that menshare equally in family responsi-bilities. Corporations are unlikelyto reduce their demands on topmanagers.
As the tidal wave of babyboomers begins to retire, top tal-ent will grow even scarcer. I hopechanging demographics will in-ject new urgency into efforts to tapwomen’s full potential. Seventy-three years is too long to wait. �
W omen make up only 14.7% of the direc-tors of Fortune 500 companies. At thisrate, Catalyst, the organization that an-alyzes barriers to full participation bywomen in our economic life,says that “it
will take women 73 years to reach parity with men in theboardrooms.” The figure is only slightly higher for officersin the nation’s largest companies.
I take great pride in the accomplishments of the 100women Crain’s is highlighting in this issue.The stark truth,however, is that few women get to the upper reaches of bigcorporations. Most women have faced issues their male
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BY MATTHEW FLAMM
the dispute over higher royaltyrates that boiled over this summerbetween webcasters and perform-ance-rights organization SoundExchange continues to simmer. Butthe founding duo behind RonningLipset Radio, an advertising salesfirm that has bet its future on Inter-net radio, remains unfazed.
Managing partners Eric Ron-ning and Andy Lipset say there istoo much at stake in this surgingbusiness for the parties not to settlethe dispute.
Their company’s rapid growthtestifies to the fact that, at the least,online radio is making headway withlisteners and advertisers. RonningLipset,which links marketers with anetwork of online stations, has beengrowing at an average rate of 60% to70% a year since its founding in
2003 and recently topped $10 mil-lion in revenues. The independentoperation expects to double its per-sonnel to 10 in the coming months.
The firm’s two executives haveexperience in both terrestrial ra-dio—they met while working at adsales firm Interep—and online. Mr.Lipset was director of sales at AOLMusic and Mr. Ronning was an ex-ecutive director at Yahoo when theydecided to start their own business.The gamble worked out.
“Every sign points to this mar-ketplace taking off right now,” saysMr. Lipset. “We can see from who’scoming on board with us.”
Backed by the big boysin recent months, heavyweightsincluding Wal-Mart,Kraft and Proc-ter & Gamble have begun streamingads on the likes of ’90s Indie onAOL Radio, and Radio Enigma onLive365.com—two services in theRonning Lipset radio network.
The advertisers are following thelisteners: The number of uniquemonthly visitors to Internet radiosites has quadrupled in the past twoyears, to some 65 million, comScoreMedia Metrix and J.P. Morgan say.
More than half of those listenersare going to the pure-play online ra-dio sites that Ronning Lipset repre-sents, with the rest visiting the Websites of terrestrial players, such asClear Channel and CBS Radio.
Ad revenues for Internet radio—including Web site ads—will growby about 40% this year and next,reaching $228 million in 2008, J.P.Morgan says. With sales for terres-trial radio flat at about $20 billionfor the past three years,online has be-come the industry’s one growth area.
“To some degree, we’ve movedall of our clients slowly into thatspace,” says Chris Fontana, groupdirector of audio activation at Me-diaVest. “We’re following the con-sumers, and to them, it’s just radio.”
While the marketplace is takingoff, the Internet radio business is stillin its infancy. Online sales contrib-ute around 1% to 5% of revenues forterrestrial operators, and the pure-play services that compete with them,like AOL, are still finding their way.
“Is there any sort of large revenuenumber for the pure plays? No,” saysJohn Blackledge, a media analyst atJ.P. Morgan. “They’re figuring outways to monetize [their user base].”
The pure plays were also hit hard-er by the royalty rate hike,which tookeffect earlier this year: They streammore songs than the terrestrials’ on-line stations, which fill airtime withtheir DJs’ talk and commercials.
Costs vs. benefitsaol radio Managing Director LisaNamerow says the giant webcasterhas cut back on marketing effortsbecause the more listeners it has, themore the company has to pay. ASound Exchange spokesman re-sponds that the more listeners Inter-
net radio operators have, the morethey can charge for their ads.
AOL and other large players,such as Yahoo Launchcast, are cur-rently negotiating with Sound Ex-change for lower royalty rates.
Ronning Lipset executives think acompromise will come,and there willbe enough ad dollars to go around.
“Advertisers have been throughthis before,” says Mr.Ronning.“Ca-ble TV changed the world—andmore money came in to television.”
THE EXTRATERRESTRIALS: Andy Lipset (left) and Eric Ronning are benefiting from listeners’growing taste for the pure-play Internet radio sites that Ronning Lipset represents.
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CNYB 10-01-07 regular book 17 9/27/2007 8:01 PM Page 1
N E I G H B O R H O O D J O U R N A L
The south bronx Over-all Economic Develop-ment Corp. is planningto turn three of the area’sabandoned gas stations
into viable commercial space. Themove is being driven by the sharpuptick in small- and medium-sizedbusinesses looking to take advan-tage of the cheaper rents and goodhighway access in the Bronx. Manyof those firms have been driven outof gentrifying areas in Brooklyn andQueens.
“Every week we’re getting callsfrom businesses that want to moveinto Port Morris and Hunts Point,”says Neil Pariser, SoBRO’s senior
vice president of economic develop-ment.“And we’re finding it harder tofind space for all these companies.”
To help answer that need,SoBRO plans to buy the defunct gasstations,which occupy more than anacre of what is currently designatedas brownfields, and clean up theland. Two are on Bruckner Boule-vard, and the third is on East 138thStreet.The acquisitions are expectedto cost between $8 million and $10million.Cleanup costs have yet to be
determined.“By the end of
2007, we will havefreed up sites thathave been frozen intime,”says Mr.Par-iser. The acquisi-tions will not be the first for SoBRO,which successfully bought andcleaned up two other brownfieldsites in the area in 2003 and in 2005.
The South Bronx has plenty ofspace, but much of it is contaminat-
ed from earlier industrial use. In the1.5-square-mile Hunts Point areaalone, there are more than 104 po-tential brownfield sites,according toa recent survey by the Bronx Over-all Economic Development Corp.
“It’s gotten to the point wheresome of the only options left for de-velopment are brownfields,” saysChristina Ficicchia, BOEDC’s eco-nomic and environmental planner.
Mr. Pariser has already begunworking with the owners of thethree properties to begin the inves-tigation and permit process.
—hilary potkewitz
Myrtle Avenueredevelopmentby any measure, Myrtle Avenue inClinton Hill, Brooklyn, has come along way in recent years. Rents havesoared, condominiums are sprout-ing, five restaurants have opened inthe last two months alone, and re-cent zoning changes are expected tospur even more development.
Now, local advocates and city of-ficials are hoping to consolidate thosegains by giving four sections of thestrip a face-lift.The effort began twoyears ago when the Myrtle AvenueBrooklyn Partnership, which con-sists of a business improvement dis-trict and local development corpora-tion, teamed up with Pratt Instituteto find ways to make the strip moreinviting for pedestrians. Last week,the partnership met with city trans-portation and small business officialsto move the plans forward.
“We have a very receptive admin-istration for these types of improve-ments,” says Michael Blaise Backer,executive director of the partnership.“We want to move quickly.”
The partnership hired the non-profit Project for Public Spaces tosolicit community input and craftdifferent designs. One proposalgaining favor is the removal of someor all of a service road and the instal-lation of a pedestrian plaza in frontof Pratt’s planned 150,000-square-foot academic building, which willinclude ground-floor storefronts.
“There isn’t any public space onthe avenue to have markets, con-certs, anything,” says Mr. Backer.
Another priority is renovating akey four-block stretch between HallStreet and Emerson Place, wherethe street layout is a poster child forfailed 1960s urban renewal. Thesidewalk beside the stores—includ-ing the avenue’s anchor supermar-ket, an Associated—is a mere ninefeet wide.
“There’s very little room on thesidewalk,and there’s not a good flowin that area,” says Doug Bowen, areal estate broker, landlord andeight-year resident of Clinton Hill.
—erik engquist
Project targetsdefunct gas stations;rising B’klyn strip set for a face-lift
Bronx brownfields to get revamp
50 | Crain’s New York Business | October 1, 2007
MYRTLEAVENUE will bemade moreinviting forpedestrians.
CNYB 10-01-07 regular book 18 9/27/2007 6:19 PM Page 1
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S M A L L B U S I N E S S
BY DIANE HESS
When bernice andDejuan Wynn de-cided to open aneye-care businessin Harlem late
last year, they brought 12 years’ ex-
perience in the industry and theconfidence that they could make iton their own. All they needed wassome seed money.
When several banks rejectedtheir loan application, the Wynnsturned to Acción New York, whichlast January established a $5.5 mil-lion microloan fund with the Upper
To the rescuewithin a week, the Wynns had a$15,000 Acción loan, which theyused to lease 975 square feet onLenox Avenue and to build inven-tory. A $3,000 loan in April helpedbuy a lens-finishing machine.
“It was always a dream to haveour own place,” Ms. Wynn says.
Acción, the nation’s largest mi-
crolender—lenders that make loansof up to $50,000—has lent morethan $700,000 from the UMEZfund and forecasts a year-end totalof $1 million.
“We refer people to Acción who[will someday be] approved by abank but aren’t there yet,” says Car-men Diaz, executive director of theAudubon Partnership, a nonprofitdevelopment corporation servingWashington Heights and Inwood.“If this kind of service didn’t exist,
these people wouldn’t get anything.”Acción’s 12 loan officers look be-
yond credit scores to things likecommitment to paying down debt.The approval process typically in-cludes at least one on-site visit orface-to-face interview and takes fiveto 10 business days. Borrowers arealso eligible for one-on-one trainingsessions on how to run a business..
“Our objective is economic devel-opment through small business de-velopment,” says Jennifer Spaziano,Acción’s vice president of businessdevelopment.
Borrowers include seasoned en-trepreneurs like Milka Luciano, anative of Puerto Rico and owner ofAbuelas Cocinas, a rice-and-beanstakeout eatery with two locations.
Buying some timein april, Ms. Luciano received$20,000 through the Acción/UMEZ program to buy equipmentfor her newest store, in East Harlem.
Getting loans from Acción is oldhat for Ms. Luciano. She landed herfirst six years ago, after she fell intodebt when construction on her shopin Yorkville was delayed. Turneddown by the bank, she heard aboutAcción and secured a $15,000 credit.
“One of their employees came tomy restaurant, looked at my booksand agreed to get me the money,”says Ms. Luciano, adding that theloan let her cover the rent while thestore was being finished.
The two spots now serve a total of450 patrons and gross $2,000 a day.
A few blocks away,Wynn Opticshas done about $100,000 in salessince opening its doors in January.
“Owning a business has beenbetter for our family,” Ms. Wynnsays. “It’s something that’s yours;you feel better about yourself.”
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52 | Crain’s New York Business | October 1, 2007
GOOD MODELTHE PROGRAM that Acción NewYork has established with theUpper Manhattan EmpowermentZone—funders include BancoPopular, J.P. Morgan Chase andTD Bank USA—is something thatthe group would like to replicate.
“Our goal is to find low-costsources of capital to increase ourcapacity to lend,” says VPJennifer. Spaziano, who addsthat keeping small businessowners from using loan sharks isalways a challenge.
On its own, Acción lent $11million to small business ownersin the metropolitan area last year.
CNYB 10-01-07 regular book 20 9/27/2007 1:59 PM Page 1
R E A L E S T A T E D E A L S
North american Air-lines will touch downin around 50,000square feet of spacelater this year at Build-
ing 141 at John F. Kennedy InternationalAirport.
The new location allows the air-line to combine its offices and ware-house at one site and provides roomfor expansion, says a spokesman forGlobal Aero Logistics Inc., whichowns North American. The airlinecurrently has 30,000 square feet atthe airport, but its offices and ware-house are at different locations.
North American is moving intoa third of the first floor, where rentsare around $15 a square foot, and allof the second floor, where rents areabout $25 a square foot, says LouisBuffalino of CB Richard Ellis Inc.,who represented the airline.
North American is primarily acharter airline. Its largest customeris the U.S. military. It also provideslimited scheduled service, flying toNigeria, Ghana and Guyana.
The building, which also housesa high school specializing in aero-nautic education, is owned by thePort Authority of New York andNew Jersey, which negotiated on itsown behalf.
—theresa agovino
Fashion designerfinds studio spacefashion designer and retail veter-an Rita Watnick is planning to openher first New York City studio, inthe garment district.
Ms. Watnick recently signed aseven-year lease for 7,000 squarefeet at 231 W. 39th St., between Sev-enth and Eighth avenues. The ask-ing rent was $40 per square foot.
The space will serve as a studioand showroom for Lily et Cie, ahigh-end fashion line that is popularwith celebrities such as Renée Zell-weger and sells in the couture depart-ment at Bergdorf Goodman. Thefashion line is just three seasons old.
Lily et Cie is named after Ms.Watnick’s 28-year-old vintage thriftshop in Beverly Hills.She is bringingLily et Cie to New York to help it ma-ture and better accommodate retailbuyers who want to carry the line.
“There is a mega-talent pool inNew York,”she says.“For the U.S.,it’sthe center of the garment industry.”
Ms. Watnick chose the West39th Street location because thebuilding offers an eclectic tenantmix. “They wanted to be with a lotof different garment companies in-stead of just dresses,” says JeffreyBuslik,an Adams & Co.broker whorepresented the tenant in the deal.
James Buslik, an Adams & Co.principal, negotiated on behalf oflandlord 231/249 W.39th St.Asso-
ciates. The asking rent was $40 persquare foot.—elisabeth butler cordova
TSE openingstore in SoHotse, which specializes in cashmereclothing, plans to open a store inSoHo in time for the spring season.The company recently signed a 10-year lease for 2,500 square feet at 120
Wooster St., between Prince andSpring streets.
The shop, which will carrywomen’s and men’s clothes andTSE’s new line of handbags, is ten-tatively scheduled to open in Febru-ary. It will be the first downtownManhattan store for TSE, whichoperated a store at 827 MadisonAve. until last year.
Since the uptown shop closed,TSE has been selling its goods to cus-tomers through private appoint-
ments at its West 15th Streetshowroom.High-end storessuch as Bergdorf Goodmanand Barneys New York alsocarry TSE’s cashmere appar-el. One of its light-gray,knee-length cardigans cur-rently sells for about $1,200at Saks Fifth Avenue.
The asking rent was about $238per square foot for the ground floor,and the space comes with a 2,000-square-foot basement for storage.
“They came tous,” says Jerry Mor-ganstern, an attor-ney with Hofheim-er Gartlir & Gross,who negotiated thedeal on behalf ofbuilding owner 120Wooster. “SoHoseems to be the up-and-coming areafor all sorts ofretailers.”
Laura Pomerantz, a principal atPBS Realty Advisors, representedthe tenant.—elisabeth butler cordova
North Americanto combine offices, warehouse; arrival in garment district
Airline spreading its wings at JFK
October 1, 2007 | Crain’s New York Business | 53
120 Wooster St.
CNYB 10-01-07 regular book 21 9/27/2007 2:05 PM Page 1
Notice of Formation of Project GraphicManagement LLC. Arts. of Org. filed with NYDept. of State on 7/19/07. Office location: NYCounty. Secy. of State designated as agent ofLLC upon whom process against it may beserved and shall mail process to: McBreen &Kopko, 110 Summit Ave., Montvale, NJ07645. Purpose: any lawful activity.
54 | Crain’s New York Business | October 1, 2007
Notice of Qualification of Akana IncubatorFund, LP, App. for Auth. filed Sec'y of State(SSNY) 12/5/06. Office location: NY County.LP org. in DE 12/4/06. SSNY designated asagent of LP upon whom process against itmay be served. SSNY shall mail copy ofprocess to Attn: John Bu, 444 Madison Ave.,12th Fl., NY, NY 10022. DE office addr.: c/oCSC, 2711 Centerville Rd., Wilmington, DE19808. Cert. of LP on file: SSDE, TownsendBldg., Dover, DE 19901. Name/addr. of eachgen. ptr. avail. at SSNY. Purpose: any lawfulactivities.
Notice of Qualification of Harbert MergerArbitrage and Event Driven GP, L.L.C., App. forAuth. filed Sec'y of State (SSNY) 11/2/06.Office location: NY County. LLC org. in DE10/31/06. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail copy of process to 555Madison Ave., 16th Fl., NY, NY 10022. DEoffice addr.: c/o CSC, 2711 Centerville Rd.,Wilmington, DE 19808. Cert. of Form. on file:SSDE, Townsend Bldg., Dover, DE 19901.Purpose: any lawful activities.
Notice of Formation of Shruti Realty, LLC, Art.of Org. filed Sec'y of State (SSNY) 4/11/07.Office location: NY County. SSNY designatedas agent of LLC upon whom process againstit may be served. SSNY shall mail copy ofprocess to Myron Kove, Esq., 1199 ParkAve., Apt. 8F, NY, NY 10128. Purpose: anylawful activities.
Notice of Qualification of BR 1355 First Avenue,LLC, App. for Auth. filed Sec'y of State (SSNY)6/29/07. Office location: NY County. LLC org. in DE 3/29/07. SSNY designated as agent ofLLC upon whom process against it may beserved. SSNY shall mail copy of process to c/o Nat. Reg. Agents, 875 Ave of the Americas,Ste. 501, NY, NY 10001. DE office addr.: 2711Centerville Rd., Wilmington, DE 19808. Cert. of Form. on file: SSDE, Townsend Bldg., Dover,DE 19901. Purpose: any lawful activities.
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Notice of Qualification of Palatine HillEmerging Markets Fund, LP, App. for Auth.filed Sec'y of State (SSNY) 4/23/07. Officelocation: NY County. LP org. in DE 4/20/07.SSNY designated as agent of LP upon whomprocess against it may be served. SSNY shallmail copy of process to 600 Fifth Ave., 26thFl., NY, NY 10020. DE office addr.: c/o CSC,2711 Centerville Rd., Wilmington, DE 19808.Cert. of LP on file: SSDE, Townsend Bldg.,Dover, DE 19901. Name/addr. of each gen. ptr.avail. at SSNY. Purpose: any lawful activities.
Notice of Qualification of MayerCap, LLC,filed under the original name Mayer CapitalAdvisors, LLC, App. for Auth. filed Sec'y of State (SSNY) 5/13/03. Office loc.: NYCounty. LLC org. in DE 5/8/03. SSNY designated as agent of LLC upon whomprocess against it may be served. SSNYshall mail copy of process to CSC, 2711Centerville Rd., Wilmington, DE 19808, the DE office addr. of LLC. Cert. of Form. on file: SSDE, Townsend Bldg., Dover, DE19901. Purp.: any lawful activities.
Name of LLC: 1854 NOYACK PATH LLC.Arts. of Org. filed NY Dept. of State 5/9/07.County off. loc.: Suffolk Cty. Sec. of Statedesignated as agent of LLC upon whomprocess against it may be served. Sec. ofState shall mail a copy of process to: 1854Noyack Path, Noyack, NY 11963. Purpose:any lawful activity.
Notice of Formation of Oceangate LandHoldings L.P. Cert. filed with NY Dept. of Stateon 8/17/2007. Office location: NY County.Secy. of State designated as agent of LP uponwhom process against it may be served andshall mail process to the principal businessaddress of the LP: c/o Starrett Corp., 70 E.55th St., 7th Fl., NY, NY 10022, Attn: StephenSalup. Name/address of each genl. ptr. available from Secy. of State. Term: until12/31/2032. Purpose: any lawful activity.
Notice of Formation of Scott Colee LLC, Art.of Org. filed Sec'y of State (SSNY) 7/17/07.Office location: NY County. SSNY designatedas agent of LLC upon whom process againstit may be served. SSNY shall mail copy ofprocess to c/o Golenbock Eiseman Assor Bell& Peskoe LLP, Attn: Lawrence R. Haut, 437Madison Ave., NY, NY 10022-7302. Purpose:any lawful activities.
Notice of Formation of AIKIDO KOKIKAI OF NYC, LLC, a domestic Limited LiabilityCompany. Arts. of Org. filed with the SSNYon 07/23/07. Office location: New YorkCounty. SSNY has been designated asagent upon whom process against the LLCmay be served. SSNY shall mail a copy ofprocess to: The LLC, One Penn Plaza -Suite 2410, New York, NY 10119. Purpose:Any Lawful Purpose.
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REQUEST FOR PROPOSALS
Notice of Formation of Dorian May LLC. Arts.of Org. filed with Secy. of State of N.Y. (SSNY)on 8/21/07. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail process to principal business location:c/o Dorian May, 160 E. 65th St., NY, NY10021. Purpose: any lawful activity.
Name of LLC: ELISABETH HAHN LLC. Arts. ofOrg. filed NY Dept. of State 8/15/07. Countyoff. loc.: New York Cty. Principal bus loc.: 76W. 86th St., #3D, NY, NY 10024. Sec. of Statedesignated as agent of LLC upon whomprocess against it may be served. Sec. of Stateshall mail a copy of process to c/o ElisabethHahn, 76 W. 86th St., #3D, NY, NY 10024.Purpose: any lawful activity.Notice of Qualification of Waldo’s $1 Mart,
LLC. Authority filed with NY Dept. of State on8/30/07. Office location: NY County. Principalbusiness address: 831 Pearl St., Boulder, CO80302. LLC formed in Delaware (DE) on11/17/98. NY Secy. of State designated asagent of LLC upon whom process against itmay be served and shall mail process to: c/oCT Corporation System, 111 8th Ave., NY, NY10011, registered agent upon whom processmay be served. DE address of LLC: 1209Orange St., Wilmington, DE 19801. Arts. ofOrg. filed with DE Secy. of State, P.O. Box 898,Dover, DE 19901. Purpose: any lawful activity.
Name of LLC: Safari Global Consulting LLC.Arts. of Org. filed NY Dept. of State 8/7/07.County off. loc.: New York Cty. Sec. of Statedesignated as agent of LLC upon whomprocess against it may be served. Sec. of Stateshall mail a copy of process to Brian Fortune,c/o Hunter Global Investors L.P., 485 MadisonAve., 22nd Fl., NY, NY 10022. Purpose: anylawful activity.
Crain’s Investment News, a dynamic and fast growing newspaper for the financialindustry, currently has an opening for an experienced Executive Coordinator. Thesuccessful candidate will provide administrative support to the Publisher as wellas working with the marketing department on various projects.
Responsibilities include but are not limited to:• telephone coverage • correspondence • coordinating travel and calendars • various administrative projects • other duties as assigned
Interested candidates must:• possess a minimum of three years of administrative support experience • have proven/advanced computer skills in Word, Excel and PowerPoint • have excellent verbal and written communication skills • be detail-oriented, well organized and manage multiple tasks
This candidate will also be working with the marketing department on coordinationof Investment News events as well as other marketing projects, both in printand online. This position holds opportunity for advancement. Crain offers anexcellent flexible benefit plan including profit sharing and a service rewardplan. A Bachelor’s degree or some college is a plus.
Resumes along with cover letters and salary requirements and can be submitted forconsideration at www.crain.com
We thank you for your interest in Crain Communications and invite you to continue tovisit our Web site as positions are updated regularly. Crain Communications is an EqualOpportunity Employer.
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Metropolitan Transportation AuthorityRequest For Proposals
FOOD & BEVERAGE VENDING MACHINE SERVICESSeeking Qualified Parties for Vending Machine Services at Various
New York City Transit (NYCT) & MTA Bus Company FacilitiesMTA NYCT & MTA Bus Co. are seeking proposers to operate food & beverage vending machinesat 55 different NYCT & MTA Bus Co. facilities throughout New York City.
Services are to be offered in Employee-Only facilities. No public or passenger accesswill be made available through this Request for Proposals (RFP).
To obtain a copy of this RFP or for more information about this RFP or the RFP process,please contact one of the two following Designated Points of Contact for this RFP:
For a copy of this RFP, contact: For more info on this RFP, contact:Odette Forestier John CoyneTel: (212) 878-7049 Tel: (212) 878-7158Fax: (212) 878-0162 Fax: (212) [email protected][email protected]
All contacts with the MTA relating to this RFP must be made through one of these two DesignatedPoints of Contact. Contacts with anyone else at MTA relating to this RFP may be a violation ofthe law and could result in the disqualification of the proposer.
Metropolitan Transportation Authority
REQUEST FOR PROPOSALProposal to operate a combined GiftShop/News Stand/CoffeeShop/Souvenir Shop/at the Coler-Goldwater Specialty Hospital andNursing Facility.A mandatory pre-bid conference willbe held in the Purchasing Dept. onthe Goldwater campus, 1 MainStreet, Roosevelt Island, NY 10044,on 10/11/07 and 10/12/07 at 10:30AM. The bid is due on 10/23/07 at3:00 PM. For additional informationplease contact Ms. Carmen Salgadoat (212) 318-4248.
REQUEST FOR PROPOSALS
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VP, Equity ResearchSeeking an individual to oversee EquityResearch Department: perform detailedanalyses on global equities with a focus onNorth America & BRIC; publish first callnotes, reports, & recommendations; anddevelop institutional business. 40 hrs/week,M-F. CA or CPA equivalent required alongwith MBA with an International focus plus4 years’ global equity experience.Alternativecombination of education/experience maybe acceptable. Fax resume & cover letter to: (212) 658-9934 or mail to: HR Dept,Scarsdale Equities LLC, 30 RockefellerPlaza, Suite 4250, NY, NY 10112. EOE.
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nb40p54_55_56cls.qxp 9/27/07 4:23 PM Page 54
October 1, 2007 | Crain’s New York Business | 55
Notice of Qualification of Rolling Cash EquityGroup LLC. Authority filed with Secy. of Stateof N.Y. (SSNY) on 7/27/07. Office location:NY County. LLC formed in Delaware (DE) on7/26/07. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail process to principal businesslocation: Sam Liebman, 1430 Broadway, 14thFl., NY, NY 10018. DE address of LLC: c/o Corporation Service Company, 2711Centerville Road, Ste. 400, Wilmington, DE19808. Arts. of Org. filed with DE Secy. ofState, 401 Federal St., Ste. 4, Dover, DE19901. Purpose: any lawful activity.
Notice of Qualification of Summit RockDiversified Strategies Portfolio, L.P. Authorityfiled with Secy. of State of N.Y. (SSNY) on7/30/07. Office location: NY County. LPformed in Delaware (DE) on 6/22/07. SSNYdesignated as agent of LP upon whomprocess against it may be served. SSNY shallmail process to: c/o Corporation ServiceCompany (CSC), 80 State St., Albany, NY12207, registered agent upon whom processmay be served. DE address of LP: CSC, 2711Centerville Road, Ste. 400, Wilmington, DE19808. Name/address of each genl. ptr.available from SSNY. Cert. of LP filed with DE Secy. of State, 401 Federal St., Ste. 4,Dover, DE 19901. Purpose: any lawful activity.
Notice of Formation of 37-24 24th StreetMember LLC. Arts. of Org. filed with NY Dept.of State on 2/6/07. Office location: NY County.Secy. of State designated as agent of LLCupon whom process against it may be servedand shall mail process to: c/o Robert Kantor,Esq., 55 5th Ave., 15th Fl., NY, NY 10003,principal business address of the LLC.Purpose: any lawful activity.
Notice of Qualification of Pinkerton GovernmentServices, LLC. Authority filed with Secy. ofState of NY (SSNY) on 8/2/07. Office location:NY County. LLC formed in Delaware (DE) on6/30/89. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail process to: c/o NationalRegistered Agents, Inc., 875 Ave of theAmericas, Ste 501, NY, NY 10001. Addressto be maintained in DE: 160 Greentree Dr.,Ste 101, Dover, DE 19904. Arts. of Org.filed with DE Secy. Of State, 401 FederalSt., Ste 4., Dover, DE 19901. Purpose: anylawful activities.
Name of LLC: PELLA 166 LLC. Arts. ofOrg. filed NY Dept. of State 6/29/07. Countyoff. loc.: New York County. Sec. of Statedesignated as agent of LLC upon whomprocess against it may be served. Sec. ofState shall mail a copy of process toHandsman & Kaminsky LLP, 600 LexingtonAvenue, 10th Floor, New York, NY 10022.Purpose: any lawful activity.
Notice of Formation of JS 180 Broadway LLC.Arts. of Org. filed with Secy. of State of N.Y.(SSNY) on 8/6/07. Office location: NY County.Principal business location: c/o WhartonRealty, 20 E. 46th St., NY, NY 10004. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail process to: Corporation Service Company,80 State St., Albany, NY 12207. Purpose:any lawful activity.
Notice of Formation of Stawski Group, LLC,Art. of Org. filed Sec'y of State (SSNY)7/12/07. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNYshall mail copy of process to c/o HofheimerGartlir & Gross LLP, 530 Fifth Ave., NY, NY10036. Purpose: any lawful activities. Latestdate 12/31/2057.
EPOLOGY LLC, a foreign Limited LiabilityCompany (LLC) filed with the Sec of State ofNY (SSNY) on 5/04/07. NY office Location:NEW YORK County. SSNY is designated asagent upon whom process against the LLCmay be served. SSNY shall mail a copy of anyprocess against the LLC served upon him/herto THE LLC, 261 BROOME ST., APT. 3A, NEWYORK, NY 10002. General purposes.
Notice of Qualification of QSG Management,L.L.C. Authority filed with Secy. of State ofN.Y. (SSNY) on 7/13/07. Office location: NYCounty. Principal business location: 11th Fl.,350 Park Ave., NY, NY 10022. LLC formed inDelaware (DE) on 3/13/07. SSNY designatedas agent of LLC upon whom process againstit may be served. SSNY shall mail process to:Corporation Service Co., 80 State St., Albany,NY 12207, registered agent upon whomprocess may be served. DE address of LLC:2711 Centerville Rd., Ste. 400, Wilmington,DE 19808. Arts. of Org. filed with DE Secy. of State, Townsend Bldg., Dover, DE 19901.Purpose: any lawful activity.
Notice of Qualification of Hawkshaw CapitalPartners, LP, App. for Auth. filed Sec'y of State(SSNY) 2/7/03. Office location: NY County. LPorg. in DE 2/6/03. SSNY designated as agentof LP upon whom process against it may beserved. SSNY shall mail copy of process toAttn: Frank Byrd, 400 Madison Ave., NY, NY10017. DE office addr.: c/o CSC, 2711Centerville Rd., Wilmington, DE 19808. Cert.of LP on file: SSDE, Townsend Bldg., Dover,DE 19901. Name/addr. of each gen. ptr. avail.at SSNY. Purpose: any lawful activities.
Notice of Qualification of Dry Brook CreditOpportunities, LP, App. for Auth. filed Sec'yof State (SSNY) 6/25/07. Office location: NY County. LP org. in DE 2/26/07. SSNYdesignated as agent of LP upon whomprocess against it may be served. SSNYshall mail copy of process to Attn: TanyaPulver, 400 Madison Ave., Ste. 5D, NY, NY10017. DE office addr.: c/o CSC, 2711Centerville Rd., Wilmington, DE 19808. Cert.of LP on file: SSDE, Townsend Bldg., Dover,DE 19901. Name/addr. of each gen. ptr. avail.at SSNY. Purpose: any lawful activities.
Notice of Formation of Kusa Makura LLC. Arts.of Org. filed with Secy. of State of N.Y. (SSNY)on 8/8/07. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail process to principal business location:c/o The LLC, 224 E. 12th St., NY, NY 10003.Purpose: any lawful activity.
Agent of Change LLC. Articles of Organizationfiled with New York Department of State onJuly 31, 2007. Office Location: New YorkCounty. Secretary of State designated asagent of LLC upon who process against itmay be served and shall mail process toAgent of Change LLC, One River Place,Suite 3122, NY, NY 10036. Purpose: Anylawful activity.
NOTICE OF FORMATION OF LIMITED LIABILITYCOMPANY. NAME: BLOGGERMED LLC.Articles of Organization were filed with theSecretary of State of New York (SSNY) on08/15/07. Office location: New York County.SSNY has been designated as agent of theLLC upon whom process against it may beserved. SSNY shall mail a copy of processto the LLC, c/o Peter Juhng, 7 DogwoodLane, Tenafly, New Jersey 07670. Purpose:For any lawful purpose.
Notice of Qualification of Crestview PartnersTE (Outbound), L.P. Authority filed with NYDept. of State on 7/31/07. Office location:NY County. LP formed in Cayman Islands(CI) on 10/24/06. NY Secy. of State designatedas agent of LP upon whom process againstit may be served and shall mail process tothe principal business address of the LP:667 Madison Ave., 10th Fl., NY, NY 10021.CI address of LP: c/o M&C CorporateServices Ltd., P.O. Box 309GT, UglandHouse, S. Church St., George Town, GrandCayman, CI. Name/address of genl. ptr.available from SSNY. Cert. of LP filed withRegistrar of Exempted LPs, Citrus GroveBldg., George Town, Grand Cayman, CI.Purpose: any lawful activity.
Notice of Qualification of Invus Advisors,L.L.C. Authority filed with NY Dept. of State on8/23/07. Office location: NY County. Principalbusiness address: 750 Lexington Ave., NY, NY10022. LLC formed in Delaware (DE) on3/13/03. NY Secy. of State designated as agentof LLC upon whom process against it may beserved and shall mail process to: c/o CTCorporation System, 111 8th Ave., NY, NY10011, registered agent upon whom processmay be served. DE address of LLC: 1209Orange St., Wilmington, DE 19801. Arts. ofOrg. filed with DE Secy. of State, 401 FederalSt., Ste. 4, Dover, DE 19901. Purpose: anylawful activity.
Notice of Formation of NR-OT HAND REHABPLLC, a Professional Limited LiabilityCompany. Arts. of Org. filed with the SSNY on06/26/07. Office location: New York County.SSNY has been designated as agent uponwhom process against it may be served.SSNY shall mail a copy of process to: C/O thePLLC, 61-18 190th Street, Suite 201, FreshMeadows, NY 11365. Purpose: To PracticeThe Profession Of Occupational Therapy.
Notice of Formation of Paul Devlin Productions,LLC. Arts. of Org. filed with Secy. of Stateof N.Y. (SSNY) on 8/13/07. Office location:NY County. SSNY designated as agent ofLLC upon whom process against it may beserved. SSNY shall mail process to: c/oCowan, DeBaets, Abrahams & SheppardLLP, Attn: Robert I. Freedman, 41 MadisonAve., 34th Fl., NY, NY 10010. Purpose: anylawful activity.
Notice of Formation of Sunshine EntertainmentGroup (NY), LLC. Arts. of Org. filed with Secy.of State of N.Y. (SSNY) on 6/1/07. Officelocation: NY County. SSNY designated asagent of LLC upon whom process against itmay be served. SSNY shall mail process to:c/o Bruce Lipnick, 800 Third Avenue, NY, NY10022. Purpose: any lawful activity.
Notice of Qualification of VII West 75th StreetOwner, LLC, App. for Auth. filed Sec'y of State(SSNY) 7/26/07. Office location: NY County.LLC org. in DE 7/3/07. SSNY designated asagent of LLC upon whom process against itmay be served. SSNY shall mail copy ofprocess to c/o Nat. Reg. Agents, 875 Ave ofthe Americas, Ste. 501, NY, NY 10001, theReg. Agt. upon whom proc. may be served.DE office addr.: 160 Greentree Dr., Ste. 101,Dover, DE 19904. Cert. of Form. on file:SSDE, Townsend Bldg., Dover, DE 19901.Purpose: any lawful activities.
NOTICE OF FORMATION OF LIMITED LIABILITY COMPANY. NAME: PINE 3103,LLC. Articles of Organization were filed with the Secretary of State of New York(SSNY) on 02/17/06. Office location: NewYork County. SSNY has been designated as agent of the LLC upon whom processagainst it may be served. SSNY shall mail acopy of process to the LLC, c/o VL Owners,Inc., ATTN: Sergei Perotine, Manager, 8Yellowstone Drive, Old Bridge, New Jersey08857. Purpose: For any lawful purpose.
Notice of Qualification of RoundtableManagers LLC. Authority filed with Secy. ofState of N.Y. (SSNY) on 6/28/07. Office location: NY County. LLC formed in Delaware(DE) on 9/15/06. SSNY designated as agentof LLC upon whom process against it may beserved. SSNY shall mail process to: 280 ParkAvenue, NY, NY 10017. DE address of LLC:2711 Centerville Rd., Ste. 400, Wilmington,DE 19808. Cert. of Form. filed with DE Secy.of State, P.O. Box 898, Dover, DE 19903.Purpose: any lawful activity.
NOTICE OF FORMATION OF BMDB EnterpriseLLC. Article of Organization filed with theSecretary of State of NY (SSNY) on 5/8/07Office location NEW YORK County. SSNYhas been designated as agent upon whomprocess against it may be served. The PostOffice address to which the SSNY shall mail a copy of any process against the LLC servedupon him/her is C/O the LLC 585 Leonard St#3. Brooklyn, NY 11222. Date of Dissolution:Purpose of LLC: to engage in any lawful act or activity. Street address of PrincipalBusiness location is: 585 Leonard St #3.Brooklyn, NY 11222
Notice of Qualification of Rex Uniondale HotelLLC. Authority filed with Secy. of State of N.Y.(SSNY) on 1/18/07. Office location: NYCounty. LLC formed in Delaware (DE) on1/2/07. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail process to: 625 RecksonPlaza, Uniondale, NY 11556. DE address ofLLC: 1209 Orange St., Wilmington, DE 19801.Cert. of Form. filed with DE Secy. of State,P.O. Box 898, Dover, DE 19903. Purpose: anylawful activity.
Notice of Qualification of Perella WeinbergPartners Capital Management LP. Authorityfiled with NY Dept. of State on 6/19/07. Officelocation: NY County. LP formed in Delaware(DE) on 2/28/07. NY Secy. of State designatedas agent of LP upon whom process against itmay be served and shall mail process to: 7675th Ave., NY, NY 10153, principal businessaddress of the LP. DE address of LP: c/oNational Corporate Research, Ltd., 615 S.DuPont Hwy., Dover, DE 19901. Name/addressof genl. ptr. available from NY Secy. of State.Cert. of LP filed with DE Secy. of State, 401Federal St., Dover, DE 19901. Purpose: anylawful activity.
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Notice of Qualification of Enclave CapitalLLC. Authority filed with NY Dept. of Stateon 7/6/2007. Office location: NY County.LLC formed in Delaware (DE) on 5/31/1995.NY Secy. of State designated as agent ofLLC upon whom process against it may beserved and shall mail process to the principalbusiness address of the LLC: 708 3rd Ave.,NY, NY 10017. DE address of the LLC: 1209Orange St., Wilmington, DE 19801. Arts. ofOrg. filed with DE Secy. of State, 401 FederalSt., Ste. 4, Dover, DE 19901. Purpose: anylawful activity.
Notice of Qualification of R-Roof IV, LLC.Authority filed with Secy. of State of N.Y.(SSNY) on 8/2/07. Office location: NY County.Principal business location: 5847 San Felipe,Ste. 4650, Houston, TX 77057. LLC formed inDelaware (DE) on 6/11/07. SSNY designatedas agent of LLC upon whom process against it may be served. SSNY shall mail process to:c/o Corporation Service Company, 80 StateSt., Albany, NY 12207. DE address of LLC:2711 Centerville Road, Ste. 400, Wilmington,DE 19808. Arts. of Org. filed with DE Secy. ofState, 401 Federal St., Ste. 4, Dover, DE19901. Purpose: any lawful activity.
Notice of Qualification of BON ALLER NEWYORK, LLC. Authority filed with Secy. of Stateof N.Y. (SSNY) on 8/20/07. Office location: NYCounty. LLC formed in Delaware (DE) on7/30/07. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail process to: c/o CorporationService Company, 80 State St., Albany, NY12207. DE address of LLC: 2711 CentervilleRoad, Ste. 400, Wilmington, DE. Arts. ofOrg. filed with DE Secy. of State, Federal &Duke of York St., Dover, DE 19901. Purpose:any lawful activity.
Name of LLC: ALEXANDRIA LIND LLC. Arts.of Org. filed NY Dept. of State 6/13/07.County off. loc.: New York County. Principalbus. loc.: 19 East 95th Street, 3F, New York,NY 10128. Sec. of State designated as agentof LLC upon whom process against it may beserved. Sec. of State shall mail a copy ofprocess to 19 East 95th Street, 3F, New York,NY 10128. Purpose: any lawful activity.
VENICE II LLC. Arts. of Org. filed with theSOS of NY (SSNY) on 7/23/07. Office loc.:NY County. SSNY designated as agent ofLLC upon whom process against it may beserved. SSNY shall mail process to: IrvingJ. Gotbaum, 568 Broadway, Suite 505, NewYork, NY 10012. Purpose: any lawful activity.
ISHIDA/CRANDALL LLC Articles of Org.filed NY Sec. of State (SSNY) 7/17/07. Officein NY Co. SSNY desig. agent of LLC uponwhom process may be served. SSNY shallmail copy of process to 373 Broadway,Ste. D8, NY, NY 10013, which is also theprincipal business location. Purpose: Anylawful purpose.
Notice of Qualification of Clutch Group LLC.Authority filed with Secy. of State of N.Y.(SSNY) on 9/5/07. Fictitious name in NY State:Clutch Group Acquisition Company LLC.Office location: NY County. LLC formed inDelaware (DE) on 7/31/07. SSNY designatedas agent of LLC upon whom process againstit may be served. SSNY shall mail processto principal business location: c/o The LLC,370 Lexington Ave., Ste. 1410, NY, NY 10017.DE address of LLC: c/o United CorporateServices, Inc., 874 Walker Road, Ste. C,Dover, DE 19904. Arts. of Org. filed with DE Secy. of State, Townsend Bldg., Dover,DE 19901. Purpose: any lawful activity.
Notice of Qualification of Dollar LandAssociates LLC. Authority filed with NY Dept.of State on 5/18/07. Office location: NY County.LLC formed in Delaware (DE) on 4/30/07. NYSecy. of State designated as agent of LLCupon whom process against it may be servedand shall mail process to: c/o CT CorporationSystem, 111 8th Ave., NY, NY 10011, registered agent upon whom process may beserved. DE address of LLC: 1209 Orange St.,Wilmington, DE 19801. Arts. of Org. filed withDE Secy. of State, Townsend Bldg., Dover, DE19901. Purpose: any lawful activity.
Notice of Formation of NewQuest ManagerLLC. Arts. of Org. filed with Secy. of Stateof N.Y. (SSNY) on 8/31/07. Office location:NY County. SSNY designated as agent ofLLC upon whom process against it may beserved. SSNY shall mail process to: c/o TheLLC, 275 Madison Ave., Ste. 702, NY, NY10016. Purpose: any lawful activity.
Notice of Qualification of NY Credit OperatingCompany LLC. Authority filed with Secy. ofState of N.Y. (SSNY) on 8/8/07. Office location:NY County. Principal business location: 230Park Ave., Ste. 1160, NY, NY 10169. LLCformed in Delaware (DE) on 4/5/07. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail process to: c/o Corporation ServiceCompany (CSC), 80 State St., Albany, NY12207. DE address of LLC: c/o CSC, 2711Centerville Road, Ste. 400, Wilmington, DE19808. Arts. of Org. filed with DE Secy. ofState, 401 Federal St., Ste. 4, Dover, DE 19901.Purpose: any lawful activity.
PUBLIC & LEGAL NOTICES
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PUBLIC & LEGAL NOTICES
Notice of Qualification of Emerging SovereignFund LP, App. for Auth. filed Sec'y of State(SSNY) 2/4/02. Office location: NY County. LPorg. in DE 1/30/02. SSNY designated as agentof LP upon whom process against it may beserved. SSNY shall mail copy of process to101 Park Ave., 48th Fl., NY, NY 10178. DEoffice addr.: c/o CSC, 2711 Centerville Rd.,Wilmington, DE 19808. Cert. of LP on file:SSDE, Townsend Bldg., Dover, DE 19901.Name/addr. of each gen. ptr. avail. at SSNY.Purpose: any lawful activities.
Notice of Formation of PH II Realty AssociatesLLC, Art. of Org. filed Sec'y of State (SSNY)1/11/01. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail copy of process to Kenneth J. Rosen,Esq., 67 Wall St., 19th Fl., NY, NY 10005.Purpose: any lawful activities.
Notice of Qualification of Centerbridge CapitalPartners PNG-D, L.P. Authority filed with NYDept. of State on 8/8/07. Office location: NYCounty. Principal business address: 375 ParkAve., 12th Fl., NY, NY 10152. LP formed inDelaware (DE) on 7/27/07. NY Secy. of Statedesignated as agent of LP upon whomprocess against it may be served and shallmail process to: c/o CT Corporation System,111 8th Ave., NY, NY 10011. DE address ofLP: c/o The Corporation Trust Co., 1209Orange St., Wilmington, DE 19801.Name/address of genl. ptr. available from NYSecy. of State. Cert. of LP filed with DE Secy.of State, Townsend Bldg., Dover, DE 19901.Purpose: any lawful activity.
Notice of Qualification of KFGF Management,LLC. Authority filed with Secy. of State ofN.Y. (SSNY) on 8/1/07. Office location: NYCounty. Principal business location: 787Seventh Ave., 6th Fl., NY, NY 10019. LLCformed in Delaware (DE) on 6/27/07. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail process to: c/o Corporation ServiceCompany (CSC), 80 State St., Albany, NY12207. DE address of LLC: c/o CSC, 2711Centerville Road, Ste. 400, Wilmington, DE19808. Arts. of Org. filed with DE Secy. ofState, 401 Federal St., Ste. 4, Dover, DE19901. Purpose: any lawful activity.
NOTICE OF FORMATION OF LIMITED LIABILITY COMPANY. NAME: PINE 1809,LLC. Articles of Organization were filed with the Secretary of State of New York(SSNY) on 02/17/06. Office location: NewYork County. SSNY has been designated as agent of the LLC upon whom processagainst it may be served. SSNY shall mail acopy of process to the LLC, c/o VL Owners,Inc., ATTN: Sergei Perotine, Manager, 8Yellowstone Drive, Old Bridge, New Jersey08857. Purpose: For any lawful purpose.
Notice of Qualification of Shaka CapitalHoldings, LLC. Authority filed with NY Dept.of State on 8/13/07. Office location: NYCounty. LLC formed in Delaware (DE) on8/7/07. NY Secy. of State designated as agentof LLC upon whom process against it may beserved and shall mail process to the principalbusiness address of the LLC: 27 CenturyRidge Rd., Purchase, NY 10577, Attn: ArifImam. DE address of LLC: c/o CorporationService Co., 2711 Centerville Rd., Ste. 400,Wilmington, DE 19808. Arts. of Form. filedwith DE Secy. of State, 401 Federal St., Ste. 4,Dover, DE 19901. Purpose: any lawful activity.
CODEBOX LLC, a domestic Limited LiabilityCompany (LLC) filed with the Sec of State ofNY (SSNY) on 1/12/07. NY office Location:NEW YORK County. SSNY is designated asagent upon whom process against the LLCmay be served. SSNY shall mail a copy of anyprocess against the LLC served upon him/herto C/O THE LLC, 30 VESEY STREET, 11TH FLR.,NEW YORK, NY 10007. General purposes.
Notice of Formation of CHASE MARLEY LLC,Art. of Org. filed with Sec'y of State of NY(SSNY) 07-20-07. Office Location: NYCounty. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail copy of process to c/o TheLLC, 315 E. 65th St., Ste. 1B, NY NY 10065.Purpose: any lawful activities.
Notice of Qualification of 2500/2700Westchester Avenue SPE LLC. Authority filedwith Secy. of State of N.Y. (SSNY) on 1/18/07.Office location: NY County. LLC formed inDelaware (DE) on 12/20/06. SSNY designatedas agent of LLC upon whom process against it may be served. SSNY shall mail process to:625 Reckson Plaza, Uniondale, NY 11556. DEaddress of LLC: 1209 Orange St., Wilmington,DE 19801. Cert. of Form. filed with DE Secy. of State, P.O. Box 898, Dover, DE 19903.Purpose: any lawful activity.
Notice of Formation of T-Parc LLC. Arts. ofOrg. filed with Secy. of State of N.Y. (SSNY)on 7/30/07. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail process to principal business location:David B. Gardner, Esq., c/o Kline, Gardner &O’Connor, P.C., 96 Middle St., Gloucester, MA01930. Purpose: to own real estate.
Notice of Qualification of Turtle CreekInvestment Advisors, LLC. Authority filed with Secy. of State of NY (SSNY) on 7/24/07.Office location: NY County. LLC formed inDelaware (DE) on 3/23/07. SSNY designatedas agent of LLC upon whom process againstit may be served. SSNY shall mail process to: Kirkpatrick & Lockhart et al, Attn: Holly D.Hatfield, Esq, 599 Lexington Ave., NY, NY10022-6030 . Address of principal office: 301East 75th St., Ste 16E, NY, NY 10021. Arts. ofOrg. filed with DE Secy. Of State, 401 FederalSt., Ste 4., Dover, DE 19901. Purpose: anylawful activities.
Notice of Conversion of Cooperative EquitiesGroup IV, a partnership, to CooperativeEquities IV LLC. Cert. filed with Secy. of Stateof NY (SSNY) on 10/22/02. Office location: NYCounty. SSNY designated as agent of LLCupon whom process against it may be servedand shall mail process to: Philip Brody, c/oTime Equities, Inc., 55 5th Ave., 15th Fl.,NY, NY 10003, registered agent upon whom process may be served. Purpose:any lawful activity.
EMERALD GREENE, LLC App. for Auth. filedNY Sec. of State (SSNY) 8/12/05, doing business under the fictitious name EMERALDGREEN NYC. LLC was organized in DE on7/29/05.Office in NY Co. SSNY desig. as agentof LLC upon whom process may be served.SSNY to mail copy of process to c/o DCDCapital, 57 W. 38th St., NY, NY 10018, whichis the principal NY office. Cert. of Org. filedwith SSDE, Div. of Corps. 401 Federal St., Ste.#4, Dover, DE. Purpose: Any lawful purpose.
Notice of Qualification of Centurion GlobalPartners, L.P. Authority filed with Secy. ofState of N.Y. (SSNY) on 8/30/07. Office location: NY County. LP formed in Delaware(DE) on 8/22/07. SSNY designated as agent of LP upon whom process against it may beserved. SSNY shall mail process to principalbusiness location: 101 Park Ave., NY, NY10178. DE address of LP: c/o CorporationService Company, 2711 Centerville Road, Ste.400, Wilmington, DE 19808. Name/address of each genl. ptr. available from SSNY. Cert. of LP filed with DE Secy. of State, 401Federal St., Dover, DE 19901. Purpose: anylawful activity.
Notice of Qualification of Haven Avenue Owner LLC. Authority filed with Secy. of Stateof N.Y. (SSNY) on 6/18/07. Office location:NY County. Principal business location: c/oVantage Properties, LLC, 750 Lexington Ave.,NY, NY 10022. LLC formed in Delaware (DE)on 3/19/07. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail process to: c/o CorporationService Company, 80 State St., Albany, NY12207. DE address of LLC: The CorporationTrust Company, 1209 Orange St., Wilmington,DE 19808. Arts. of Org. filed with DE Secy. ofState, 401 Federal St., Dover, DE 19901.Purpose: any lawful activity.
Notice of Formation of Rising Development –38 Main, LLC. Arts. of Org. filed with Secy.of State of N.Y. (SSNY) on 9/6/07. Officelocation: NY County. SSNY designated asagent of LLC upon whom process against itmay be served. SSNY shall mail process to:The LLC, 3261 Broadway, NY, NY 10027.Purpose: any lawful activity.
NOTICE OF FORMATION OF Cocktail CaterersLLC. Arts. of Org. filed with the Secy. of Stateof NY (SSNY) on 6/8/2007 Office locationNEW YORK County. SSNY has been designatedas agent upon whom process against it maybe served. SSNY shall mail process to: 875Avenue of the Americas, Suite 501. New York,NY 10001. Principal business Location: 416West 23rd Street, 4B , NY, NY 10011. Purpose:any lawful act. 891443
Name of LLC: Uphook filed Ny. dept of state05/31/07. County of New York sec. of statedesignated agent of LLC Upon whom processagainst it may be served, secretary of stateShall mail copy of process to Ice: aka GayleJohnson 130 Jane St. New York 10014.Purpose: any lawful activity.
VERDE ENVO LLC Articles of Org. filed NYSec. of State (SSNY) 5/31/07. Off. inWestchester Co. SSNY desig. agent ot LLCupon whom process may be served. SSNYshall mail copy of process to the principaladdress of the LLC: 24 Midland Ave, Yonkers,NY 10705. Purpose: Any lawful activity.
Notice of Qualification of Dynamis ETF, LLC.Authority filed with Secy. of State of N.Y.(SSNY) on 8/22/07. Office location: NYCounty. LLC formed in Delaware (DE) on7/25/07. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail process to principal businesslocation: 75 Rockefeller Plaza, 18th Fl., NY, NY10019. DE address of LLC: c/o CorporationService Co., 2711 Centerville Rd., Ste. 400,Wilmington, DE 19808. Cert. of Form. filedwith DE Secy. of State, Townsend Bldg., Dover,DE 19901. Purpose: any lawful activity.
Notice of Formation of 180 BROADWAYLLC. Arts. of Org. filed with Secy. of State ofN.Y. (SSNY) on 6/15/07. Office location: NYCounty. SSNY designated as agent of LLCupon whom process against it may beserved. SSNY shall mail process to: c/oEastern Property Associates, LLC, 194 W.10th St., L-1, NY, NY 10014, Attn: JosephEdery. Purpose: any lawful activity.
Notice of Qualification of Betsey JohnsonLLC. Authority filed with Secy. of State ofNY (SSNY) on 8/1/07. Office location: NYCounty. LLC formed in Delaware (DE) on6/29/07. SSNY designated as agent of LLCupon whom process against it may beserved. SSNY shall mail process to: c/oNational Registered Agents, Inc., 875 Aveof the Americas, Ste 501, NY, NY 10001.Address to be maintained in DE: 2711Centerville Rd., Ste 400, Wilmington, DE19808. Arts. of Org. filed with DE Secy. OfState, 401 Federal St., Ste 4., Dover, DE19901 Purpose: any lawful activities.
Notice of Qualification of BRS CoinvestorGP III, L.L.C. Authority filed with Secy. ofState of NY (SSNY) on 9/6/07. Office loca-tion: NY County. LLC formed in Delaware(DE) on 8/29/07. SSNY designated asagent of LLC upon whom process againstit may be served. SSNY shall mail processto: The LLC, 126 East 56th St., NY, NY10022. Address to be maintained in DE:2711 Centerville Rd., Ste 400, Wilmington,DE 19808. Arts. of Org. filed with DE Secy.Of State, 401 Federal St., Ste 4., Dover, DE19901 . Purpose: any lawful activities.
Notice of Qualification of GS CapitalPartners 2000 Employee Fund, L.P.Authority filed with Secy. of State of N.Y.(SSNY) on 7/27/07. Office location: NYCounty. LP formed in Delaware (DE) on4/5/00. SSNY designated as agent of LPupon whom process against it may beserved. SSNY shall mail process to: 85Broad St., NY, NY 10004. DE address ofLP: Corporation Trust Center, 1209 OrangeSt., Wilmington, DE 19801. Name/addressof each genl. ptr. available from SSNY.Cert. of LP filed with DE Sec. of State, P.O.Box 898, Dover, DE 19903. Purpose: anylawful activity.
Notice of Qualification of HY 707 LLC.Authority filed with Secy. of State of N.Y.(SSNY) on 9/11/07. Office location: NYCounty. LLC formed in Delaware (DE) on6/20/07. SSNY designated as agent ofLLC upon whom process against it maybe served. SSNY shall mail process to:c/o KMM Telecommunications, 9 LawDrive, Ste. 13, Fairfield, NJ 07004. DEaddress of LLC: Trolley Square, Ste. 20C,Wilmington, DE 19806. Arts. of Org. filedwith DE Secy. of State, 401 Federal St.,Ste. 4, Dover, DE 19901. Purpose: own &develop real property.
Notice of Formation of ALBERT 2 LLC. Arts.of Org. filed with NY Dept. of State on 9/5/07.Office location: NY County. Secy. of State designated as agent of LLC upon whomprocess against it may be served and shallmail process to the principal businessaddress of the LLC: c/o United AmericanLand, LLC, 430 W. Broadway, 3rd Fl., NY, NY10012. Purpose: any lawful activity.
Notice of Formation of JASON 2 LLC. Arts. ofOrg. filed with NY Dept. of State on 9/6/07.Office location: NY County. Secy. of Statedesignated as agent of LLC upon whomprocess against it may be served and shallmail process to the principal business addressof the LLC: c/o United American Land, LLC,430 W. Broadway, 3rd Fl., NY, NY 10012.Purpose: any lawful activity.
Notice of Qualification of JWS Partners I,L.P. Authority filed with Secy. of State of NY(SSNY) on 09/11/07. Office location: NewYork County. LP formed in Delaware (DE)on 09/07/07. SSNY designated as agent ofLP upon whom process against it may beserved. SSNY shall mail process to: c/oNortheast Securities, 100 Wall St., NY, NY10005, Attn: Jon W. Salmanson. Addressrequired to be maintained in home jurisdiction:160 Greentree Dr., Ste., 101, Dover, DE19904. Name/address of genl. ptr. availablefrom SSNY. Cert. of LP filed with DE Secy.of State, John G. Townsend Bldg., 401 FederalSt., Ste. 4, Dover, DE 19901. Purpose: anylawful activities.
Notice of Qualification of PowerQX LLC.Authority filed with NY Dept. of State on11/8/06. Office location: NY County. Principalbusiness address: 375 Park Ave., NY, NY10152. LLC formed in Delaware (DE) on10/26/04. NY Secy. of State designated asagent of LLC upon whom process against itmay be served and shall mail process to: c/oCT Corporation System, 111 8th Ave., NY, NY10011, registered agent upon whom processmay be served. DE address of LLC: c/o TheCorporation Trust Co., 1209 Orange St.,Wilmington, DE 19801. Cert. of Form. filedwith DE Secy. of State, Townsend Bldg.,Dover, DE 19901. Purpose: any lawful activity.
Notice of Formation Vvensta LLC art. of org.filed Secy. of State NY (SSNY) 6/14/07. Off.loc. in NY Co. SSNY designated as agent ofLLC upon whom process may be served.SSNY shall mail copy of process to: HangGuo, 51-29 72 St, Woodside, NY 11377.Purpose: Any lawful purpose.
Notice of Formation of 200 West 55th Street,LLC, Art. of Org. filed Sec'y of State (SSNY)11/21/05. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNYshall mail copy of process to c/o Dahan &Nowick LLP, 1700 Broadway, NY, NY 10019.Purpose: any lawful activities.
Notice of Formation of 142 Wooster StreetLLC, Art. of Org. filed Sec'y of State (SSNY)7/19/07. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail copy of process to c/o Nat. Reg. Agents,875 Ave of the Americas, Ste. 501, NY, NY10001, the Reg. Agt. upon whom proc. maybe served. Purpose: any lawful activities.
Notice of Qualification of 655 FIFTH OWNERLLC. Authority filed with Secy. of State of N.Y.(SSNY) on 8/29/07. Office location: NYCounty. LLC formed in Delaware (DE) on8/27/07. SSNY designated as agent of LLCupon whom process against it may be served.SSNY shall mail process to: c/o Hiro RealEstate Company, 650 Madison Ave., NY, NY10022, Attn: Frank Ward. DE address of LLC:c/o Corporation Service Company, 2711Centerville Road, Ste. 400, Wilmington, DE19808. Cert. of Form. filed with DE Secy. of State, 401 Federal St., Ste. 4, Dover, DE19901. Purpose: any lawful activity.
Notice of Qualification of SG MortgageSecurities, LLC. Authority filed with Secy. ofState of N.Y. (SSNY) on 6/6/07. Office location: NY County. LLC formed in Delaware(DE) on 5/17/05. SSNY designated as agent of LLC upon whom process against it may beserved. SSNY shall mail process to: c/o CTCorporation System, 111 8th Ave., NY, NY10011, registered agent upon whom processmay be served. DE address of LLC: 1209Orange St., Wilmington, DE 19801. Arts. of Org. filed with DE Secy. of State, 401Federal St., Dover, DE 19901. Purpose: alllawful purposes.
Notice of Formation of NY GO 72nd LLC. Arts.of Org. filed with Secy. of State of N.Y. (SSNY)on 6/1/07. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail process to: c/o Gotham Organization,1010 Ave. of the Americas, 4th Fl., NY, NY10018. Purpose: any lawful activity.
Notice of Formation of Axelrod EnergyProjects, LLC, Art. of Org. filed Sec'y of State(SSNY) 6/22/07. Office location: NY County.SSNY designated as agent of LLC upon whomprocess against it may be served. SSNY shallmail copy of process to c/o Lawrence Axelrod,214 West 96th St., NY, NY 10025. Purpose:any lawful activities.
Notice of Qualification of Blackstone TT FundL.P., App. for Auth. filed Sec'y of State (SSNY)5/24/07. Office location: NY County. LP org. inDE 5/21/07. SSNY designated as agent of LPupon whom process against it may be served.SSNY shall mail copy of process to Attn: J.Tomilson Hill, 345 Park Ave., NY, NY 10154.DE office addr.: c/o CSC, 2711 Centerville Rd.,Wilmington, DE 19808. Cert. of LP on file:SSDE, Townsend Bldg., Dover, DE 19901.Name/addr. of each gen. ptr. avail. at SSNY.Purpose: any lawful activities.
Notice of Qualification of GII Fund L.P., App.for Auth. filed Sec'y of State (SSNY) 6/13/07.Office location: NY County. LP org. in DE6/11/07. SSNY designated as agent of LPupon whom process against it may be served.SSNY shall mail copy of process to Attn: J.Tomilson Hill, 345 Park Ave., NY, NY 10154.DE office addr.: c/o CSC, 2711 Centerville Rd.,Wilmington, DE 19808. Cert. of LP on file:SSDE, Townsend Bldg., Dover, DE 19901.Name/addr. of each gen. ptr. avail. at SSNY.Purpose: any lawful activities.
Notice of Formation of Integrated TechnologySystems NYC LLC. Authority filed with NewYork Dept. of State 1/10/06. Office location:New York County. LLC formed in Delaware(DE) on 12/21/05. Sec. of State designatedas agent of LLC upon whom process againstit may be served. Sec. of State shall mailprocess to: 509 Madison Ave. Suite 1200, NY,NY 10022. DE address of LLC: 3500 SouthDuPont Highway, Dover, DE 19901. Cert. ofFormation filed with DE Sec. of State, P.O. Box 898, Dover, DE 19903. Purpose: Any lawful activity.
Notice of Formation of Paramount Fee Mezz,LLC, Art. of Org. filed Sec'y of State (SSNY)8/21/07. Office location: NY County. SSNYdesignated as agent of LLC upon whomprocess against it may be served. SSNY shallmail copy of process to Nat. Reg. Agents, 875Ave of the Americas, Ste. 501, NY, NY 10001.Purpose: any lawful activities.
Coming Up on the Calendar
October 8thSmall Business
October 15thHoliday Party Guide
October 22ndHealth Care
To place your classified
ad call John Gallagher
@ 212-210-0189
nb40p54_55_56cls.qxp 9/27/07 4:24 PM Page 56
THE WEEKS AHEAD
THIS WEEK’S EVENTSOCTOBER 2Networking for Professionals holdsnetworking reception. 6:00 p.m. to 8:00p.m., Barna, 365 Park Ave. South. Fee:$10 members and $15 nonmembers inadvance; $20 for all at door.(212) 227-6556 [email protected] 2New York Public Library’s Science,Industry and Business Library holdslecture on financial plans. 5:30 p.m. to7:00 p.m., 188 Madison Ave., room 018.Free. (212) 592-7000.OCTOBER 2National Speakers Association holdsmeeting on making and sellinginformation products. 6:00 p.m. to 9:00p.m., Media Training Worldwide, 110W. 40th St., suite 203. Fee: $20members, $40 nonmembers.(212) 724-8782.OCTOBER 3Five O’Clock Club’s Executive JobSearch Group holds seminar onshortcutting the job search. 6:30 p.m. to8:30 p.m., 11 Penn Plaza, fifth floor.Fee: $50. (914) 788-5482 [email protected] 4Magazine Publishers of America holdsdigital matters forum. 12:00 p.m. to 2:00p.m., 810 Seventh Ave., 24th floor. Fee:$125 members, $225 nonmembers.(212) 872-3733 or [email protected] 4South Asian Women’s LeadershipForum holds program with MiraKamdar, author of Planet India. 5:30p.m. to 8:30 p.m., J.P. Morgan PrivateBank, 345 Park Ave., 11th floor. Fee:$30. (704) 277-8893 [email protected] 4Pace University’s Small BusinessDevelopment Center holds workshopon business planning. 5:30 p.m. to 7:30p.m., 163 William St., 15th floor. Free.(212) 618-6655 or [email protected] 5Magnificent Women Organizationholds conference on the art of personalbranding. 8:00 a.m. to 2:00 p.m., HelenMills Theatre, 137-139 W. 26th St. Fee:$197.(678) 315-9718 [email protected] 5York College/CUNY holds executiveleadership breakfast. 8:00 a.m. to 9:30a.m., 94-20 Guy R. Brewer Blvd.,faculty dining room, Jamaica, Queens.Free. (718) 282-3810 [email protected].
OCTOBER 8-14OCTOBER 9NYC Business Solutions holds seminaron how and where to get financing.10:00 a.m. to 12:00 p.m., 110 WilliamSt. Free. (212) 618-8862.OCTOBER 9State Bank of Long Island holdsseminar on equal employmentopportunity: issues and updates. 8:00a.m. to 9:30 a.m., Yale Club, 50Vanderbilt Ave., Saybrook Room. Free.(516) 240-6220 [email protected] 10Smith Barney holds workshop on smallbusiness. 6:00 p.m. to 7:00 p.m., 1 PennPlaza, 43rd floor. Free. (212) 643-5703or [email protected] 10Acción New York holds seminar onstarting a home-based business. 6:00p.m. to 8:00 p.m., 290 Lenox Ave. Free.
(212) 387-0494 [email protected] 10Institute of Real Estate Management,greater New York chapter, holds lunchmeeting on the operationalresponsibilities of the Federal ReserveBank of New York. 11:30 a.m. to 1:30p.m., New York Helmsley Hotel, 212 E.42nd St. Fee: $65 members, $130nonmembers. (212) 944-9445 [email protected] 10Score NYC holds seminar on e-commerce for small businesses. 10:00a.m. to 1:00 p.m., New York PublicLibrary’s Science, Industry and BusinessLibrary, 188 Madison Ave., lower level.Fee: $40 in advance, $50 at door.
(212) 264-4507 or [email protected] 10Industrial and Technology AssistanceCorp. holds workshop on leanmanufacturing. 9:30 a.m. to 4:30 p.m.,253 Broadway, suite 302. Fee: $95.(212) 442-2990 or [email protected] 11Crain’s New York Business holdsnetworking breakfast and program withAvi Schick, chairman of the LowerManhattan Development Corp. 8:00a.m. to 9:30 a.m., Hilton New York,1335 Sixth Ave. Fee: $65.
(212) 210-0739 orwww.newyorkbusiness.com/events.
OCTOBER 15-21OCTOBER 17New York Commercial Real EstateWomen Inc. holds program on thedevelopment of Hudson Yards. 6:00p.m. to 8:00 p.m., Harvard Club, 27 W.44th St. Fee: $50 members, $75nonmembers. (212) 499-6566 [email protected] 17Japan Society holds program onmultilateralism in Asia. 5:30 p.m. to8:15 p.m., 333 E. 47th St. Fee: free formembers, $15 nonmembers, $10 foracademics or members of government.(212) 715-1247 or
[email protected] 18Manhattan Chamber of Commerceholds networking reception. 5:30 p.m. to8:00 p.m., Club 101, 101 Park Ave. Fee:$25 members and $35 nonmembers inadvance; additional $5 for all at door.(212) 473-7805 [email protected].
OCTOBER 22-28OCTOBER 22Financial Women’s Association holdsinformation session on transitioningyour career to nonprofits. 5:45 p.m. to8:00 p.m., Alliance Française, 22 E. 60thSt. Fee: $35 members, $45 nonmembers.(212) 533-2141.
—adrianne pasquarelli
TO LIST YOUR EVENT
Listings can be submitted only through the Crain’sWeb site. To submit a calendar listing, go towww.newyorkbusiness.com and click on “Events.”Sponsors have a choice of several free or paid list-ing options. All business events will be postedonline within two business days.
More meetings online atwww.newyorkbusiness.comClick on “Events”
C A L I F O R N I A : : D E L A W A R E : : F LO R I D A : : N E W J E R S E Y : : N E W Y O R K : : P E N N S Y LVA N I A : : V I R G I N I A : : W A S H I N G T O N , D C
Ellen L. ShapiroOne Chase Manhattan Plaza, 35th FloorNew York, NY 10005-1417T 212.440.4400 F 212.440.4401
MAKING A CASE FOR TEAMWORK.
October 1, 2007 | Crain’s New York Business | 57
CNYB 10-01-07 regular book 25 9/28/2007 11:57 AM Page 1
W E E K I N R E V I E W
Bloomberg LPfaces lawsuitbloomberg lp was sued by theEqual Employment OpportunityCommission for discriminatingagainst women who becamepregnant and took maternity leave.The lawsuit accuses the news andfinancial services company ofreplacing, demoting and reducingthe pay of women after theyannounced they were pregnant.
Fare hike optionsthe metropolitan Transporta-tion Authority outlined twoproposals for subway fare hikes—each raising single-ride fares by aquarter to $2.25. One planpreserves current discounts butincreases the unlimited-card fareby 4%.The other increases thecost of unlimited cards by up to 8%, but offers a cheaper off-peak fare.
Nasdaq, Borse up OMX bidnasdaq and borse dubai raisedtheir bid for Sweden’s OMXexchange by 15% to $4.9 billion inresponse to a rival bid from agroup from Qatar. Nasdaq andBorse Dubai also enteredagreements with key shareholders
to secure 47.6% of OMX’s shares.
Cash for diamondsjewelry retailer FinlayEnterprises Inc. agreed to buy theBailey Banks & Biddle division ofZales Corp. for $200 million,sending Finlay’s stock up as muchas 55% in one day. Finlay expectsBailey Banks & Biddle tocontribute up to $300 million inadditional revenue for 2009.
Morgan settlementmorgan stanley will pay $12.5million to settle claims by theFinancial Industry RegulatoryAuthority that its Dean Wittersubsidiary failed to provide emailsrelated to pending arbitrationcases.The firm had claimed theinformation was destroyed duringthe Sept. 11 terrorist attacks.
Delta adds flightsdelta air lines will add 14international routes at John F.Kennedy International Airport tomeet increased demand.Theairline will reduce peak-hourflights while increasing flightswith larger planes.
Jones Apparelratings slashedmoody’s investors servicedropped its ratings on JonesApparel Group Inc. into junkterritory, citing challenges in theretailer’s wholesale and retailbusinesses.The company recentlysold Barneys New York for $362million, but it remains saddled witha host of lackluster departmentstore lines (Crain’s, Sept. 10).
Vault.com sellsmajority stakeprivate equity firm VeronisSuhler Stevenson said it willacquire a majority stake inVault.com Inc., a publisher ofcollege and career search content.Erik Sorenson, former presidentof MSNBC, will become chiefexecutive of Vault.com.
Port Authorityto cut 100 jobsthe port authority of NewYork and New Jersey said it wouldeliminate 100 jobs, or approximate-ly 1% of its workforce, as part of along-term effort to cut costs.Theagency said the positions areprimarily managerial andadministrative.
EEOC sues Tavern the u.s. equal EmploymentOpportunity Commission suedTavern on the Green fordiscrimination based on gender,race and national origin.The suitclaims the restaurant failed toaddress accusations of racial biasby former director of operationsLeon Drogy, and retaliated againstemployees who spoke out.
Bristol-Myersacquires Adnexusbristol-myers squibb co. said itwill acquire Adnexus Therapeuticsfor $430 million to advance its rolein biologics and cancer treatment.Adnexus, which will become asubsidiary of Bristol-Myers, willremain in Waltham, Mass.
Sweet victory for Domino factorythe domino Sugar RefineryBuilding, which was shuttered in2004, received landmark statusfrom the Landmarks PreservationCommission.The designation willnot affect Community PreservationCorporation Resources’ plans todevelop 2,200 apartments on a sitesurrounding the Brooklyn refinery.
—from staff reports andbloomberg news reports
Bear surges on Buffett talksBEAR STEARNS COS.’ stock surged 7.7% in one day on talkthat billionaire investor WARREN BUFFETT (above) was closeto buying a stake in the struggling Wall Street firm. Bear hasbeen trying to revive earnings and its stock price since mid-June, when two of its hedge funds failed because of badbets on mortgage-backed securities. The firm’s stock hasdropped more than 24% from the start of the year.
THE DOMINO BUILDING is a landmark.
THE MTA has two proposals for fare hikes.
58 | Crain’s New York Business | October 1, 2007
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For daily news updates, go to www.NewYorkBusiness.com
ECONOMIC SPOTLIGHT
NYC Hotel StatsAverage room rates and occupancyfigures took a downward turn in July,PKF Consulting data show. Aver-ages for the first seven months of2007 were above year-earlier levels,at $270.28 and 85.1%, respectively.
Broadway StatsIn the week ended 9/23, attendanceand gross started edging out of theirmid-September lull, The League ofAmerican Theatres and Producerssays. For the season to date, levelswere up 8% and 8.6%, respectively.
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JULY ’07 AUGUST ’07 COMPARISON
NY area inflation change +0.2% -0.1% +1.9%1
NYC unemployment rate 5.7% 5.7% 4.6%2
NYC employment 3,704,800 +55,700
1-Inflation rate for the latest 12-month period. 2-U.S. unemployment rate. 3-Not seasonallyadjusted.
Economy WatchThe NY area price index posted its first month-to-month drop since last No-vember, and the lowest 12-month rise since the period ended in June 2002.
Capital IQ’s Weekly Deals ReportTRANSACTION SIZE
COMPANY/LOCATION (in millions) BUYER/INVESTOR TRANSACTION TYPE
EDO Corp. $1,571.5 ITT Corp. SB M&AManhattan
American Express Bank $1,160.0 Standard Chartered plc SB M&AManhattan
OANDA Corp. $100.0 New Enterprise Associates, T. Rowe GCIManhattan Price Group Inc., Cascade Investment,
Legg Mason Inc.
Mimeo.com Inc. $25.0 Goldman Sachs Principal Strategies GCIManhattan Group, Draper Fisher Jurvetson,
Delcath Systems Inc. $14.2 Not disclosed GCIManhattan
Selected deals announced during the week of Sept. 16 for companies headquartered in metro NewYork. GCI: Growth capital investment represents new money invested in a company for a minoritystake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existingshares of a company without the participation of a financial buyer.
AUGUST JOB TOTAL3 12-MONTH CHANGE
CNYB 10-01-07 regular book 26 9/28/2007 5:34 PM Page 1
CORPORATELADDER Gettingjazzed about gig at Lincoln Center PAGE 61
BY LOUISE KRAMER
ummer ended too quickly this year for many New Yorkers, who wereforced to abandon the beach to battle waves of bad economic news.
With fall filling up with more gloomy financial reports, it may come as apleasant surprise that next Monday is Columbus Day—a chance for abreak. Following are six suggestions for weekend getaways within 150miles of Manhattan that will let you glory in autumn’s beauty and shedsome city-induced stress. If you can’t spare the whole weekend, at leasttreat yourself to a day of leaf peeping. Check out www.iloveny.com/foliageto catch trees’ fall finery at its peak.
Leaf peeperMARY PAT DRISCOLL, 48,captains the 80-foot yachtManhattan, operated byClassic Harbor Line. Sheconducts fall foliage tours upthe Hudson River, earningroughly $30 an hour.
LIFE AQUATIC Ms. Driscoll gother captain’s license 15 yearsago, after spending over adecade with the Coast GuardReserve. “I always loved beingaround the water,” says thenative of Rochester, N.Y.The$85 tours—four hours to thePalisades and back—runthrough early November. Sheembroiders and sells Irishdance costumes in the off-season.
AT THE HELM She and herthree-person crew usuallyhave about 40 passengers. Ms.Driscoll steers while offeringcommentary, but sometimesshe turns the wheel over to hermates to mingle with clients.
NATURAL BEAUTY The waternear the Palisades is herfavorite. “You see very littleman-made interference,” Ms.Driscoll says. “The cliffs, thetrees and the calmness of theriver there are very beautiful.”—adrianne pasquarelli
HOW CAN I CELEBRATEOKTOBERFEST?though oktoberfesttraditionally runs for twoweeks, from the end ofSeptember through the firstweekend in October, NewYork City starts later becausemost Americans believe it’scelebrated only in October.Zum Schneider, a Bavarianoutdoor beer garden, is one ofthe places New Yorkers can goto party as they do in Munich.This means marking theoccasion with special Bavarianbeers, roast chicken, porkshank, cheese spread andsausages. I encourage peopleto dance and conduct theirown sing-alongs. Get a coupleof people together and
celebrate in yourlederhosen.—sylvester
schneiderOwner
Zum Schneider See FALL WEEKEND on Page 60
B U S I N E S S
GOTHAM GIGS
EXPERT OPINIONS
October 1, 2007 | Crain’s New York Business | 59
S
Joys of the (fall) season Joys of the (fall) season Six local getawaysfor relaxing, family funand more
Six local getawaysfor relaxing, family funand more
THE STATS AVERAGE AREA TEMPSIN EARLY OCTOBER
67HIGH
47LOW
GUESTS OF THE SPA ATNORWICH INN canluxuriate in a body wrap,then take in afternoon teaand a wine tasting.
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CNYB 10-01-07 regular book 27 9/28/2007 11:27 AM Page 1
The art of timein Hudson Valley
Soak up some contemporaryculture in Hudson,N.Y.,whilegoing back in time.
A once-forlorn river town twohours north of Manhattan,Hudson’smile-long main street, lined with19th-century buildings, has becomea magnet for antique dealers andartists,many of them New York Cityrefugees. The town offers a thrivingrestaurant and live-music scene, aswell the annual ArtsWalk festival,which runs through Columbus Day.
Now in its 13th year, ArtsWalkhas grown to feature open and juriedexhibits from regional artists,includ-ing a show in a former cannonballfactory and dance performances—all free. ArtsWalk has plenty for kidsthis year,too,like an art treasure hunton Oct. 6.
Manylocal artistsopen theirstudios, andthe localchapter ofthe Daugh-ters of theAmericanRevolutionmakes itscollectionof Civil Warmemorabil-ia available
for public viewing. No visit is com-plete without seeing nearby Olana,the Persian-influenced home ofFrederick Church, a leader of theHudson River School, the land-scape art movement of the mid-19th century.
To find lodging, go towww.columbiacountylodging.com.One Hudson pick is Union StreetGuest House. Available rooms startat $225. And you don’t need a car:The train station is near the centerof town.
Poconos, beyondthe honeymoon
Forget heart-shaped bath-tubs and red satin sheets. ThePocono Mountains have be-
come downright family-friendly.Tomake a big splash with the kids,head to the Great Wolf Lodge inScotrun, Pa., less than two hours bycar from the city.
Once you’ve shed all vestiges ofNew York cool, you may have asmuch fun as your children splashingaround the two-year-old resort’shuge indoor water park. It has 11water slides, including fast-pacedtubes that wind through the parkand gentler ones for younger kids.The six pools include one with bigwaves and a whirlpool for adultswho need a break.
Though many water parks areswamped with splash-happy visi-tors, this one, part of a growing na-
tional chain, hasbuilt-in crowd con-trol: Users must bestaying at the resort,which comprises401 suites.
Many activitieshere can be enjoyedtogether or sepa-rately—from theAveda spa to bed-time story-tellingand role-playinggame MagiQuest.
Holiday week-ends book up fast,but keep checking for availability.Rates begin at $329, including fourwater park passes;there’s a two-nightminimum if a stay includes a Sat-urday night. For additional infor-mation, visit www.greatwolf.com/locations/poconos.
Blissful fitnessin Connecticut
There’s no starbucks at theSpa at Norwich Inn, in Nor-wich,Conn.,but there’s plenty of
coffee—like ground Arabica beansused in an exfoliation process andgreen-coffee extract as a componentin a cellulite-busting body wrap.
Such treatments are amongdozens of services offered for menand women, from facials to fitnessclasses, at this spot 113 miles frommidtown. The facility is a moderncontrast to the historic main build-
ing, where you canshed your NewYork stress with af-ternoon tea andwine tastings.
A member ofthe Historic Ho-tels of America, theGeorgian-style innsits on 42 acres,with plenty of treesfor leaf peeping.Rooms in the mainbuilding boastfour-poster bedsand a floral decor,while adjacent vil-las have fireplacesand kitchenettes.
Pad around allday in a spa robe and slippers,or pickup the pace with the 2.5-mile morn-ing walk, led by a fitness instructor.
The Mashantucket Pequot Trib-al Nation, owners of the nearbyFoxwoods Resort and Casino,bought the Norwich Inn in 1994.Can’t stand the snail’s pace? Golfand gambling are a short drive away.Fall rates start at $252 a room, in-cluding tax. For information, go towww.thespaatnorwichinn.com.
CelebratingAmerica’s pastime
If you didn’t get enough dur-ing the regular season, head up-state to the Baseball Hall of Fame
and Museum in Cooperstown.Crowds are manageable at the
hall—still fresh from a $20 millionrenovation completed in 2005—inthe autumn. Vibrant foliage is an-other reason to visit this sportsshrine about 144 miles from Man-hattan, on the edge of Lake Ostegobetween the Catskill and Adiron-dack mountains. The Third Annu-al Baseball Hall of Fame FantasyCamp starts Oct. 5.
A visit to the museum can claima whole day. Those who can’t takethat much trivia have other options:golf, a farm museum and the Feni-more Art Museum, home to notedcollections of American folk andIndian art as well as paintings by thelikes of Grandma Moses, GilbertStuart and Thomas Cole. Folk Arton Fire, a special exhibit, celebratesthe bravery and camaraderie of19th-century firefighters.
The Otesaga Resort Hotel, builtin 1909, is a grande dame. Roomsstart at $478 a night, includingbreakfast and dinner for two,tax andgratuity; tack on $50 for a child agedseven to 18. For reservations, go towww.otesaga.com.
A different kindof beach day
Low key by the sea isthe vibe at SpringLake, N.J., in the fall.
Take in the fresh salt air alongthis quaint spot’s two-mileboardwalk, which is remark-ably free of the taffyshops and souveniremporiums that are socommon in othertowns “down the shore.”
While finding an ocean-
front parking spot is tough duringthe summer, it’s not a problem inOctober. And getting there on NewJersey Transit takes just an hour and15 minutes from Penn Station.
Filled with Victorian-era innsand bed and breakfasts,Spring Lakeprovides a cozy spot for quiet pleas-ures like cycling—most hotels offerbikes gratis—or reading a book in awicker rocker on the porch.
The leaves will soon be turningon the tree-lined streets, and if theocean isn’t enough, there is indeed alake in the center of town, completewith foot bridges and edged withweeping willows.
Warning: Spring Lake wears alot of chintz, and it shuts down ear-ly. For dinner, try Island Palm Grillon Third Avenue, the main com-mercial street. It’s BYOB, and thechef is a veteran of Bobby Flay’sMesa Grill in Manhattan. Visit
www.historicinnsofspringlake.com,which offers 11 lovely lodging se-lections, including Ocean House,where room rates start at $143.75.
Locate the elusiveinner peace
If you really need to relax,headto Kripalu Center for Yoga andHealth in Lenox,Mass.A special
plus is breakfast, where guests areasked not to speak.
The center, in a former Jesuitmonastery on 150 wooded acresabout 120 miles from Manhattan,offers hundreds of specialized pro-grams on topics as diverse as stressreduction, singing and watercolorpainting—everything connectingback to yoga.
The “retreat and renewal” pro-gram lets you select from a menu ofyoga classes and sessions on well-ness, self-awareness and personalgrowth. There’s a full-service spawith “healing arts” treatments, likestone massages,and plenty of hikingpaths.
Meals are served buffet style in adining room with tables reminis-
cent of a high school cafeteria.The menu is mostly vege-tarian, with some poultryand fish—a concession toomnivores.
Rooms are spare; someare dormitory-style.A double
starts at $286 a person,includ-ing three meals. For reserva-tions, go to www.kripalu.org.
For a fancier Lenox re-treat, take a look atCanyon Ranch (www.canyonranch.com/lenox).
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60 | Crain’s New York Business | October 1, 2007
ARTSWALK in historicHudson, N.Y.
RIGHTFULLY NAMED: Spring Lake’s lake.
POOL TIME at the Spa at Norwich Inn.
GET YOURom on atKripalu.
istockphoto
CNYB 10-01-07 regular book 28 9/28/2007 11:33 AM Page 1
BY MIRIAM KREININ SOUCCAR
In his 17 years as an interna-tionally known arts consult-ant, Adrian Ellis has workedwith institutions like the Na-tional Gallery in London and
The Frick Collection in Manhattan.He turned around the flailing SanFrancisco Opera and helped execu-tives think through their decisionnot to build a new home for the NewYork City Opera.
The invitation that finally per-suaded Mr. Ellis to focus all his at-tention and expertise on one placecame from a famed organization fo-cused on jazz—an art form he hasbeen passionate about since he wasa boy growing up in North Wales,listening to the jazz hour on Voice ofAmerica. Mr. Ellis, an economist bytraining and a former civil servant inthe Thatcher administration, takesthe reins as executive director of Jazzat Lincoln Center today.
“Jazz at Lincoln Center is theenvy of the arts world because they
landed him,” says Ben Cameron,program director for the arts at theDoris Duke Charitable Founda-tion. “He is among the most rigor-ous thinkers about the performingarts in the entire world—if not themost rigorous.”
An easy decisionmr. ellis was originally hired byJazz at Lincoln Center as a consult-ant to create a strategic plan for theorganization after its $131 million,100,000-square-foot facility openedin the Time Warner Center in fall of2004. When he was offered the topjob,he says, it took him all of 30 sec-onds to make the decision to take it.He replaces Katherine Brown, whorecently resigned after 10 years withthe institution, the last two as exec-utive director.
“After 17 years pontificatingabout organizations, the opportu-nity to go back and actually runsomething is irresistible,” says Mr.Ellis.
Jazz at Lincoln Center has suf-fered growing pains since it be-came the operator of three perform-ance halls, increasing its budget to$38 million from $11 million in justfour years.It has blown through fourtop administrators in about sevenyears. However, Mr. Ellis says thatthe organization does not have a
deficit and that no major overhaul isrequired.
The most pressing issue, he says,is building Jazz at Lincoln Center’smeager $11 million endowment.That will help the arts group reduceits reliance on renting out its hallsand allow it to present more of whatit’s supposed to: jazz. Right now,the Rose Theater is used for theinstitution’s jazz programs only25% of the time and The AllenRoom,18%.Mr.Ellis hopes to dou-ble the number of jazz programs inthe next five years.
Putting money where the music is“i want to turn the volume up onjazz,” he says. “But presenting jazz
in these halls leads to red ink, sowe need more contributed incometo do that.”
Mr. Ellis, who started his careerin the arts by setting up the DesignMuseum in London, says it’stougher these days to sell culture tophilanthropists, many of whom arepouring their resources into loftierpursuits, like eradicating diseases inAfrica. But among cultural institu-tions, jazz organizations have an ad-
vantage: They can be positioned ashaving a larger agenda linked to so-cial change.
As for promoting the prolif-eration of the art form, Mr. Ellisis already working on building fu-ture audiences. He recently tookhis kids, aged 8 and 11, to Dizzy’sClub Coca-Cola at Jazz at LincolnCenter.
Thinking man’s hep catJazz at Lincoln Centerscores coup by hiringrenowned consultant;fine-tuning needed
B U S I N E S S L I V E S
PERSONNEL FILEORGANIZATION Jazz at LincolnCenter
TITLE Executive director
AGE 51
RÉSUMÉ President of AEAConsulting
FAVORITE RESTAURANT Rack &Soul, on Broadway and West109th Street
PERSONALITY TYPE Type A
You must be pre-registered to attend these events. All tickets are non-refundable. For moreinformation, call the Events Hotline at 212-210-0739.
Avi Schick, Chairman of the LowerManhattan Development Corporation, willdiscuss developments at the World TradeCenter and other projects under waydowntown. He will be questioned by Crain’seditor Greg David and another journalist.
Avi Schick
BUSINESS BREAKFAST FORUM
MEET LOWER MANHATTAN’S DEVELOPMENT CHIEF
DATE: THURSDAY, OCTOBER 11, 2007
PLACE: HILTON NEW YORK 1335 Avenue of the Americas between 53rd and 54th streets
CNYB 10-01-07 regular book 29 9/28/2007 5:32 PM Page 1
ACCOUNTING & CONSULTING Friedman: David Schneyman, 45, waspromoted to director of affordablehousing taxation, a newly createdposition, from tax manager.Schonbraun McCann Group: Philip L.Brady, 48, joined as senior tax partner.He had been chief financial officer andtax director at Zerep Holdings.
ADVERTISING & COMMUNICATIONS CBX: Todd Maute, 44, joined as seniorvice president and partner. He had beenvice president of marketing at DaymonWorldwide.Cubitt Jacobs & Prosek Communications:Brian Hickey, 49, joined as managingdirector. He was formerly principal andhead of professional and financialservices at Walek & Associates.OgilvyAction: Michele Colombo, 47, waspromoted to managing director andcontinues as executive vice president andmanaging partner.
ARCHITECTURE & DESIGN HDR Architecture Inc.: Stanley Stark, 59,joined as vice president and nationaldirector of life sciences. He was formerlycontributing editor at R&D Magazine.TSC Design: Wey Lee, 58, joined as chiefoperating officer. He had been a seniorassociate at Ted Moudis Associates.
FINANCE & INSURANCE Jefferies & Co.: Brian S. Shipman, 38,joined as senior equity research analyst.He had been senior publishing andadvertising analyst at UBS.RREEF Private Equity: Adam Graev, 34,joined as a director, DB SecondaryOpportunities private equity fund. Hewas formerly a vice president at PomonaCapital.
HIGH TECH & NEW MEDIADigitas: Todd Stanley, 39, joined as seniorvice president, marketing. He wasformerly president of the Toronto officeat Lowe Worldwide.
LAW Cadwalader Wickersham & Taft: DorothyAuth, 45, joined as special counsel. Shehad been a partner at Morgan &Finnegan.John Moehringer, 40, joined as specialcounsel. He had been a partner atMorgan & Finnegan.
Greenberg Traurig: John W. Weiss, 34,joined as shareholder. He had been anassociate at Latham & Watkins.Kirkpatrick & Lockhart Preston GatesEllis: Andrew Morrison, 44, joined aspartner. He was formerly a partner atReed Smith.
MEDIA & ENTERTAINMENT Cartoon Network: William Blair, 39, wasappointed vice president, ad salespromotions and marketing. He had beenvice president of divisional partnershipsat Time Warner Global Media Group.Comcast Network Advertising Sales: SaraKaliski, 31, was promoted to vicepresident, online advertising sales, fromdirector, online advertising sales.One, A Magazine: Yash Egami, 35, waspromoted to editor in chief frommanaging editor of the One Clubpublication.ShowBizCafe.com: Jack Rico, 33, joined aseditor in chief. He had been weather andentertainment anchor atWXTV/Univision 41’s Al Despertar.
REAL ESTATE Brown Harris Stevens: Shlomi Reuveni,40, joined as executive vice president andsenior managing director. He wasformerly a real estate broker at TheCorcoran Group.Massey Knakal Realty Services: JessicaPaindiris, 24, joined as director ofmarketing, a newly created position. Shehad been an account executive at CasonNightingale Creative Communications.The Richman Group: Michael W. Gilliard,29, joined as vice president ofdevelopment, a newly created position.He had been senior project manager,development, at The BluestoneOrganization Inc.
—adrianne pasquarelliand sarah studley
WANTED: CHIEF EXECUTIVECOMPANY Marsh Inc.
JOB DESCRIPTION Oversee operations at the insurance subsidiary ofMarsh & McLennan Cos.
MOST IMPORTANT TASK Replacing $800 million in annual fees lostfrom a 2004 bid-rigging scandal
CREDENTIALS NEEDED Proven management experience
SALARY Former CEO made $3.5 million in total cash compensation in2006
RECRUITER Internal
UPSIDE Manage the flagship unit, which accounts for 50% of total revenues
DOWNSIDE Marsh has yet to recover from charges that it steered clientsto insurers that paid it hidden commissions
Former CEO Brian Storms stepped down last month, after repeatedattempts to revive the battered unit were unsuccessful. MichaelCherkasky, president and CEO of Marsh & McClennan, is serving asinterim chief executive. —KIRA BINDRIM
HOT JOBS
EXECUTIVE MOVES
EXECUTIVE PROMOTIONS
Crain’s lists the promotion and hiring of New Yorkarea senior executives on a space-available basis,with priority given to positions in New York City.
The fastest way to get an announcement intoCrain’s is to submit details online by filling out theform at www.NewYorkBusiness.com/submit.The Executive Moves column is also availableonline.
Crain’s cannot confirm receipt of listings or saywhen they will appear.
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CNYB 10-01-07 regular book 30 9/28/2007 12:00 PM Page 1
B U S I N E S S L I V E S
In the same place Fizz fiz-zled, Azza offers exotic, ro-mantic pizzazz and evenrazzmatazz.
Fizz, a members-onlysupper club and lounge,went flat af-ter a short run in a duplex configu-ration near the corner of LexingtonAvenue and East 55th.
Enter Algerian-born DjamalZoughbi, French partner ThierryPomies, and American chef StevenFerdinand. Their impressive cre-ation is the place to go for the Mo-roccan medley of meze, couscousand tagines. The fare is also stu-diously organic.
Azza meals play out in an almostmagical setting designed in part byJacques Garcia of the RockwellGroup. The 50-seat dining room isdone in bold gold and red, and dec-orated with Persian rugs and chan-deliers from Egypt. Low seating isaccented with pillows and cozy cor-ners for cuddling.Menus are hard to
read in the dim light, so pocketflashlights are useful here.
The small-plate meze ($5 to$12) are fresh and flavorful, withhighest marks going to savory “ci-gars,” phyllo-like cylinders stuffedwith tangy goat cheese and spinach;grilled baby octopus with mint andlemon; and seared slices of yellowfintuna over mâche salad with harissasauce.Only a stone-cold trio of lambsliders marred the picture.
Mr. Ferdinand is bullish on localfarms and taps many for seasonal in-gredients, which he deploys in sal-ads and small dishes like beets withorange and yam fries served withspicy ketchup.
Sugar-dusted pastillas encaseminced chicken or squab, eggs, can-died almonds, cinnamon and more.
Tagines, the hat-shaped ceramicsteamers of the Middle East, cometo the table heaped with vegetables,lamb, seafood or chicken. My fa-vorite is the Couscous Royal, a giantassemblage of lamb, chicken, mer-guez sausage and vegetables. Lastweek’s seasonal selection wastagine-cooked butternut squash.
Azza’s engaging staff explainshow a couscous dish is to be eaten.The moist, nutty grain is spread onthe plate, and a trough is shaped
through it. Broth is ladled over thegrain, then vegetables and meats arelayered on top before the addition ofseasoning—more broth blendedwith harissa. Fun, and perfect forsharing. Harissa is hot stuff, so it’sbetter to start gently and crank upthe heat meter gradually.
One of the side dishes is cous-cous colored black with squid inkand complemented with dry raisins.
Though its Moroccan prove-nance is doubtful, the steak here, a16-ounce cut, is from the organicFeatherstone Ranch in Texas and it’sterrific—served simply withspinach, roast potatoes and lemon.Pan-seared salmon is anotherAmerican offering, presented overchick peas, fennel and tomato.
Desserts ($9) hold delicate sur-prises, from grapefruit brûléecrowning wine granité to butter-milk-based panna cotta and freshdoughnuts with rosewater dip.
The charming Mr. Zoughbiworks the floor, as he did earlier atSan Domenico and La Goulue. Hisservice teammates pitch in seam-lessly; even the bartender will stepup to deliver food to tables if theneed arises.The overall helpful atti-tude is also a tribute to the profes-sionalism of General ManagerPatrick Faup, a seasoned restaurantman-about-town.
This is a first-rate party location.As small as the street-level restau-rant may be, the lounge downstairsaccommodates 120 and has a DJ,state-of-the-art audiovisual equip-ment and a pool table.
Azza’s wine list strives for multi-lateral representation of North
Africa and the Middle East and in-cludes Moroccan, Algerian,Lebanese and Israeli bottles amongthe choices. Perhaps it’s a holdoverfrom the recent club activity at thisaddress, but vigorous markups arethe rule, with many wines priced300% or more above retail.
����= Outstanding���= Excellent��= Very good�= Good
October 1, 2007 | Crain’s New York Business | 63
NORTH AFRICAN NIGHTS: Lush decor and low seating add to the exotic experience of dining atAzza Restaurant and Lounge. The midtown space was formerly home to a nightclub.
Meze, couscousdishes are highlightsat Azza; wine listcarries hefty markups
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Following are reviews of other out-of-the-ordinary restaurants.
Anthos � � �36 W. 52nd St. (between Fifth andSixth avenues), Manhattan.(212) 582-6900. It’s DonatellaArpaia and chef Michael Psilakis(Dona) again as the chef bids togain for modern Greek cuisine thesame respect accorded French, Ital-ian and Spanish cooking.
Axia Taverna � � �18 Piermont Road, Tenafly, N.J.(201) 569-5999. A highly appealingnew Greek restaurant from builderMichael Parlamis, whose firm hasdone a thousand of them. Designedby Tony Chi, the location featuresimpressive modern cuisine and styl-ish surroundings.
Amalia � � ½204 W. 55th St. (between Broadwayand Seventh Avenue), Manhattan.(212) 245-1234. A stunning new multilevel setting for chef Ivy Stark’s
exciting Mediterranean-Americancuisine.
Pera Mediterranean Brasserie � � ½303 Madison Ave. (between East41st and East 42nd streets), Man-hattan. (212) 878-6301. Great-look-ing, friendly contemporary Turkishattraction with an emphasis ontender grilled meats, mezes andsalads. �
Autumn is Now Open
������ Time Out New York
���� Crain’s New York Business
Park Avenue Autumn100 E. 63rd at Park Avenue
212.644.1900www.parkavenyc.com
CNYB 10-01-07 regular book 31 9/28/2007 12:07 PM Page 1
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