Crain's New York Business back issues from February 2001:
Developers trade Crowne for king-size apartment deal ; Big bucks buy safer downtown bet as downturn inspires caution.(Glenwood Management Corp.)(Brief Article)
Feb 05, 2001; ... A plan to build a Crowne Plaza hotel at 76 William St. is being abandoned for a more conservative project, in an early sign of caution among Manhattan developers. Joseph Neumann's Broadway Management Co. sold the vacant Wall Street area lot to residential builder Leonard Litwin, ...
Feeding Columbus Circle; Ambitious plan for upscale food court raises eyebrows.(Palladium Company L.P.)(Brief Article)
Feb 05, 2001; ... Next month, the developers of the vast new complex on the site of the former Coliseum at Columbus Circle will unveil one of the most ambitious restaurant projects ever to hit New York City. The project, in the future home of AOL Time Warner, will feature six eateries from some ...
Wall Street's new rallying cry: Cut costs; Slumping earnings force firms to pare wages, trim staff; retail hit hardest.(Brief Article)
Feb 05, 2001; ... Brokers are finally feeling the sting of the stock market's slump. Hit by falling revenues in their retail stock business, as well as in investment banking, securities executives are getting out their scalpels-trimming costs in a desperate effort to preserve profits. High up on their list ...
Star or supernova?; StarMedia bets on hitting profitability alone.(Brief Article)
Feb 05, 2001; ... Last October, Manhattan-based StarMedia Network Inc. pleased analysts when its third-quarter results were better than anticipated. This month, analysts expect to be surprised on the upside once again when the Spanish- and Portuguese-language Internet portal announces its fourth-quarter ...
Tax plan could bring $13 billion in relief to NY; Obscure rule may reduce benefit for many city residents.(Brief Article)
Feb 05, 2001; ... President George W. Bush's $1.6 trillion across-the-board tax cut could result in an estimated net gain of $13 billion a year for New York state residents. That would mean an average tax cut of $1,600 for each of the 8 million tax filers in the state. ``The Bush tax cut will ...
11 hospitals are critical, new financial study finds; Another 9 doing nearly as badly; all lack capital for improvements.(Brief Article)
Feb 05, 2001; ... Nearly a third of the city's voluntary hospitals are near bankruptcy and facing serious questions about their ability to survive. Eleven hospitals did poorly on virtually all important financial indicators between 1997 and 1999, according to a new report by the United Hospital ...
Stock Watch: Neuberger Berman rates itself a 'buy'; High-priced stock buyback planned; some analysts don't see the value.(Brief Article)
Feb 05, 2001; ... Neuberger berman inc. has a well-known penchant for careful, value-oriented investing. Its affection for its own shares, though, appears to be the exception. The stock of the Manhattan-based money manager, with $55.5 billion in assets, has risen 235% in the last year. That makes ...
Real Estate Watch: Big tenants eye J.P. Morgan offices; Merged bank is renting its Wall St. home; AIG looking.(Brief Article)
Feb 05, 2001; ... Colliers abr inc. is quietly showing J.P. Morgan's headquarters building, 60 Wall St., to heavy-hitter prospective tenants. The idea is that they can rent anywhere from half the 1989-vintage tower to nearly the whole thing. The list of lookers includes insurance giant American ...
Restructuring firm thrives as more companies take dive; Executive Sounding Board tries to cure ills; doesn't invest.(Brief Article)
Feb 05, 2001; ... These are the best of times for William Henrich's business. As head of the New York office of Executive Sounding Board Associates Inc., Mr. Henrich is in the business of breathing new life into troubled companies or, failing that, shutting them down. Not surprisingly, the ...
Lawyers hedge against Bush reforms; Tort reform groups looking to exploit favorable climate.(Brief Article)
Feb 05, 2001; ... While education and taxes have grabbed the spotlight in the first days of the Bush administration, trial lawyers and advocates of tort reform are getting ready for a new struggle over the nation's liability laws. Trial lawyers are debating among themselves what the best strategy ...
Bicoastal power: NY's not Calif.(Brief Article)
Feb 05, 2001 ... In the last month, rolling blackouts have swept California as the state's utilities have failed to provide enough power to meet the demand. Many in New York have warned that a similar fate lies in store for us. But it's important to understand the similarities and differences between the ...
Reprints from Crain's.(Brief Article)
Feb 05, 2001 ... Crain's offers reprints of the articles it publishes, in quantities of 500 or more. The reprints can include black-and-white or color photos that accompany the story. To obtain an estimate of the price and the turnaround time for a reprint, please contact Erica Montgomery at Reprint ...
The Best of Bob Lape.(Brief Article)
Feb 05, 2001 ... Bayard's 31/2 1 Hanover Square, between Pearl and Stone streets, Manhattan. (212) 514-9454. Chef Eberhard Muller (Lutece, Le Bernardin) joins the team of Harry and Peter Poulakakos at beautiful, historic India House. Memorable food, caring service, and 100,000 bottles of great ...
Crain's top lists on disk and on-line.(Brief Article)
Feb 05, 2001 ... The 2001 edition of Crain's New York Business' popular year-end issue, the Book of Lists, is now available both on computer disk and through the newspaper's Web site at www.crainsny.com. The price of the ...
ESPN going to extremes with new sports magazine; EXPN due in October; many rivals.(Entertainment and Sports Programming Network)(Brief Article)
Feb 05, 2001; ... Get ready for EXPN the Magazine. ESPN the Magazine, a joint venture launched by Walt Disney Co. and Hearst Magazines in 1998, has an extreme-sports magazine in development and is weighing international expansion of its flagship. ESPN has developed a working prototype ...
Correction.(Brief Article)
Feb 05, 2001 ... 1-800-Gift Certificate's 2000 revenues were less than $50 million. GiveAnything.com's revenues were more than $1 ...
Crain's seeking 4 business All-Stars.(Brief Article)
Feb 05, 2001 ... Crain's New York Business is seeking nominations for its annual All-Stars team of four executives who have contributed richly to the city in the past year. Readers can nominate executives by sending a one- or two-page letter to All-Stars, Crain's New York Business, 711 Third ...
Software makers find easier ways to e-tail; Offer cybercash, gift certificates; profits next on list.(Great River Interactive Inc.)(Brief Article)
Feb 05, 2001; ... In the last three years, five local software makers have joined the race to solve the on-line payment problem. They're hawking a variety of alternatives, from Internet cash to on-line gift certificates, and include industry leaders such as Flooz.com Inc. as well as start-ups such as ...
Free trial of Health Pulse.(Crain's New York Business)(Brief Article)
Feb 05, 2001 ... Crain's New York Business offers free two-week trial subscriptions to its daily Crain's Health Pulse fax. The fax covers the business of health care, supplying information on mergers, contracts and executive appointments. The Pulse appears six times a week, with an ...
New arrival SBC just phoning in its local service; Baby Bell says it's a long selling process; rivals say firm is only fulfilling FCC deal.(SBC Communications Inc.)(Brief Article)
Feb 05, 2001; ... Last November, SBC Communications Inc. launched a blimp into the skies over Manhattan emblazoned with the San Antonio-based Baby Bell's logo. The sky-high marketing effort coincided with the launch of SBC's local telephone service in New York. But several months later, some in ...
McCall discusses NY budget, politics; Crain's breakfast forum, Feb. 22.(Brief Article)
Feb 05, 2001 ... State Comptroller H. Carl McCall, who is running for governor in 2002, will discuss state issues and politics at the next Crain's breakfast forum on Thursday, Feb. 22. The event, which is co-sponsored by the New York City Partnership & Chamber of Commerce and by real estate firm ...
Hands-on lender bets on fledgling firms; Gerber links loans to inventory; keeps close tabs on risky credits.(Gerber Trade Finance)(Brief Article)
Feb 05, 2001; ... With orders pouring into their new business, early last year Malte Lorenz and his wife, Marlo Weinstein, faced a crisis. In order to fill those orders, their company, Thro Inc., a manufacturer of decorative pillows and throws, needed $300,000 for fabric and other materials. The ...
New Executive: Stepping up cancer fight; Society's Eastern chief aims to enlist firms, government for funds, programs.(American Cancer Society, Donald W. Distasio)(Brief Article)
Feb 05, 2001; ... In an effort to lighten up the subject a little, Donald W. Distasio likes to joke that his interest in cancer comes from his July birthdate's astrological sign. Actually, Mr. Distasio took a job at the American Cancer Society completely by fluke 29 years ago. But what started as ...
New York's other boroughs ringing up mall retailers; Urban expansion viewed as safest route if a recession rears its head.(Brief Article)
Feb 05, 2001; ... Joe firestone has blanketed the malls of America with his Electronics Boutique stores and taken them to countries as far-flung as New Zealand. But 700 units are not enough when few retailers are sustaining significant per-store sales increases year after year, and expansion is ...
Digital new York: Exec paydays sweet as firms sour; Cash compensation deals come back to haunt Alley from anything-goes days.(Brief Article)(Statistical Data Included)
Feb 05, 2001; ... With mountains of stock options now worthless, a fortunate few Silicon Alley executives will get plenty of cash to help make up the difference. Among those with deals all but guaranteeing big paydays are Wit Soundview Group Inc.'s Robert Lessin and Rare Medium Group Inc.'s ...
New York, New York.(multiple topics)(Brief Article)
Feb 05, 2001; ... BOOKSTORE's fINAL CHAPTER? A popular West Side cultural institution is about to bite the dust. Coliseum Books will shut down its famous shop at Broadway and 57th Street by year-end after a quarter-century tenancy. The building's new owner, Joseph Moinian, wants to ...
The Weeks Ahead.
Feb 05, 2001; ... This Week's Events February 6. The Learning Annex holds seminar on 101 new home-based business ideas. 6:30 PM to 9:30 PM, The School for Physical City, 55 E. 25th St. Fee: $34 members, $39 nonmembers. (212) 371-0280, ext. 0798. February 6. Gartner and InfoRay hold ...
Power-poor city faces tough summer; Energy agency to forecast deficit; proposed generators get boost.(New York Independent System Operator)(Brief Article)
Feb 05, 2001; ... The agency charged with running New York state's wholesale electric markets is expected to announce next week that the city again faces a large potential shortage of electricity. Officials familiar with the report say the New York Independent System Operator will conclude that ...
AT DEADLINE.(several brief topics included)
Feb 05, 2001 ... Bids for EAB fall short Bids for European American Bank fell far short of the $1.5 billion parent ABN Amro expected when it put the $15.4 billion bank on the market last month. ABN has to decide whether to pull the bank off the market but needs to act quickly, given that the ...
Seeing the light; NY takes over as holy land for gospel recordings; major labels get into the act.(Brief Article)
Feb 05, 2001; ... When Tara Griggs-Magee came to New York from Nashville in 1994 to run the new gospel music label Verity, she felt like a pioneer staking out new territory. ``The only other gospel record company based in New York was Savoy,'' says Ms. Griggs-Magee, vice president and general manager of ...
Crain's on databases.
Feb 05, 2001 ... Crain's New York Business is available on several electronic databases. The full text of Crain's can be found on Nexis, Dialog, Dow Jones Interactive, ...
NY's smart set really isn't.(style difference between New York and Washington)(Brief Article)(Editorial)
Feb 05, 2001; ... After moving from washington, d.c., to new York in the early 1980s, it took me only a nanosecond to recognize the major difference between the two cities: In Washington, the coin of the realm is power; in New York, it's money. What matters in the nation's capital is ...
Executive Moves.(hirings and promotions)(Brief Article)
Feb 05, 2001; ... ACCOUNTING & CONSULTING Concrete Inc.: James Bumstead, 43, joined as vice president of sales for the Internet consulting firm. He was formerly senior vice president of sales for Reuters America's Reality Online Division. KPMG: Timothy P. Flynn, 44, was named to the ...
Economy keeps health care jobs from heeling; City gains thousands of positions in 2000; HHC facilities downsize.(Health and Hospitals Corp.)(Brief Article)(Statistical Data Included)
Feb 05, 2001; ... Five years ago, Deborah King's friends warned her against taking a position as chief of worker retraining and job security for 1199, the National Health and Human Service Employees Union. ``All the pundits said, `Debbie, why are you taking the job?''' Ms. King recalls. ```All ...
Theater area's shining star; Pan-Mediterranean Limoncello even better, if very pricey.(Brief Article)
Feb 05, 2001; ... Named for the lively lemon liqueur of the Amalfi Coast, Limoncello is a bit of a stealth restaurant in the theater district. Perhaps because it is in a hotel, the Michelangelo, guests seldom have to fight for dinner reservations. But steadily, it is becoming more singular and better ...
Government Alert: Clinton communicators playing follow the leader; Want to give NY a spin; PR firms listening.(Brief Article)
Feb 05, 2001 ... It looks like many of the former spokespeople in the Clinton administration are eager to follow the former president and former first lady to New York. Executive recruiters, who have been inundated with resumes from Clinton communications people, say many of them want to work in New York ...
McGuire: man of the net.(Brief Article)
Feb 05, 2001; ... Remember al mcguire? how can we forget? phil Mushnick in the Post recalled Al's wisecrack as he lay dying: ``Cash bar at the wake.'' When Al came along, New York and basketball were both somewhat, well, if not better, certainly different. Except for a few black stars at CCNY, ...
Firm wants to give waiting diners access to the Web; Are costly PDA devices worth the diversions they provide customers?(Brief Article)
Feb 05, 2001; ... To keep a leash on waiting customers, the restaurant industry has embraced vibrating pagers and even tried out blinking coasters. Evan Chen is hoping restaurateurs will warm to the merits of his version of the Palm Pilot. Last year, the 21-year-old entrepreneur started Silicon ...
Investment banks power up their energy practices; Poaching abounds in latest hot sector.(Brief Article)
Feb 05, 2001; ... When boutique investment bank Blaylock & Partners was looking to add a chiefoperating officer, it didn't miss the chance to beef up its expertise in the energy sector. To fill the position, the Manhattan-based firm last March tapped Hazel O'Leary, whose 25 years of experience in ...
Small Business: Repealed law less taxing on owners ; Onerous lump-sum levy on sales of companies goes by the boards.(Brief Article)
Feb 05, 2001; ... It has taken almost a year but, thanks to a lucky coin toss and a lot of lobbying by small business advocates, it has paid off. David Lifson, partner at Hays & Co., a Manhattan-based accounting firm, has helped one of his small business clients get an ideal deal on the sale of ...
Ticket to the movie business; Media studies M.B.A. gains rep at Audrey Cohen; Cannes required.(Brief Article)
Feb 05, 2001; ... Nearly 15 years ago, Kenya Cagle wrote a screenplay about an undercover agent and sent it out to more than 100 movie studios. Not one responded. Last spring, he took the same script to the Cannes Film Festival and came home with a $5 million production deal. ``I knew ...
Reform in securities suits shakes law firm's security; Milberg Weiss adds new practices.(Brief Article)
Feb 12, 2001; ... At the end of 1999, Cendant Corp. agreed to pay aggrieved shareholders $3.2 billion in the largest securities class-action settlement in history. The lawsuit was noteworthy for another reason: Law firm Milberg Weiss Bershad Hynes & Lerach was not at the bargaining table. ...
Woman jeweler dazzles in diamond district; Takes educational approach to sales.(Brief Article)
Feb 12, 2001; ... When John Penotti was producing a movie called A Price Above Rubies for Miramax three years ago, he turned to Mimi So, a young jeweler a friend had recommended, to supply a large-stone diamond ring for a key scene. It became a habit. Since then, Mr. Penotti, president of ...
Real estate watch: Display maker nails deal for Jersey City space; Rathe moves plant across river; leases small NYC office.(Brief Article)
Feb 12, 2001; ... Rathe productions inc. moved its shop facility out of Manhattan. Until late last month, the 54-year-old company-one of America's largest makers of trade show exhibits and museum displays-housed its manufacturing operations and executive offices together in a set of buildings on ...
New Executive: Ahead of learning curve; One-time teacher leads Scholastic's educational unit, keeps eye on profits.(Brief Article)
Feb 12, 2001; ... Julie a. mcgee, the sharp-witted new head of educational publishing for Scholastic Inc., started her career in the classroom. It was a practical decision. ``I became a teacher because women of my generation became teachers or nurses,'' says the youthful-looking 58-year-old ...
Moves to Jersey go better when it's a two-way street; Making long-range plans with staffers aids companies' retention efforts.(Brief Article)
Feb 12, 2001; ... Executives at john Wiley & Sons Inc. considered numerous variables when deciding whether to move to Hoboken. Jack Day's commute was just one. The executive director of reselling and training sales was already traveling four hours a day between his home in Fairfield, Conn., and ...
Problem loans dog NY banks; Defaults on the rise; more try to dump.(Brief Article)
Feb 12, 2001; ... Last month, FleetBoston Financial Corp. bit the bullet and sold off a package of distressed loans once worth more than a billion dollars. It's only the tip of the iceberg. FleetBoston and other local banks have billions of dollars of questionable loans on their books ...
Dumbo retailing lifts off ; Initial offer of free rent brings grocer, restaurants and more to rising area.(Brief Article)
Feb 12, 2001; ... Last September, Karim Raoul and Claude Solliard did what they once thought was unimaginable. They opened a restaurant in Brooklyn's Dumbo neighborhood. ``We came at the right time,'' says Mr. Raoul, co-owner of Kino, a stylish eatery that features an up-close, camera-ready view ...
Carnegie Hall to stage talent search; American-style management sought; candidate caliber could change tune.(Brief Article)
Feb 12, 2001; ... After months of turmoil at Carnegie Hall, all eyes are fixed on who will take over the top job now that executive director Franz Xaver Ohnesorg has announced his resignation. Under Mr. Ohnesorg's watch, at least five senior staff members either resigned or were fired, leaving ...
Starting up on the wings of angels; Investors find better firms to back; prices fall but the risks rise.(Brief Article)
Feb 12, 2001; ... When SkyScout Inc., a Manhattan-based wireless application service provider, started up one year ago, 10 angel investors contributed two-thirds of the $1.4 million it raised-money that was supposed to be supplanted in the next round of financing by longer-term venture capital. ...
Plastic fantastic.(Sealtech attracts investors)(Brief Article)
Feb 12, 2001 ... One such promising company that has recently caught the eye of angels is Sealtech Co. After several venture capital firms said ``no,'' the Parsippany, N.J.-based manufacturer of thermal plastic adhesives raised $1.2 million from 12 investors in September. Sealtech ...
Wall Flowers; Bumper crop of start-ups blossoms by selling services, software to financial firms; ex-bankers command inside track as entrepreneurs.
Feb 12, 2001; ... awash in paper and already lagging behind competitors who are taking more and more of their transaction processing on-line, executives at J.P. Morgan Mortgage Capital Inc. decided two years ago to get with the program. ``We figured we better get caught up in a hurry,'' says Megan ...
Financial work charges start-ups; 4 firms prosper, focus on fields from M&A to mortgage banking.(Brief Article)
Feb 12, 2001; ... In the last few years, the combination of strong financial markets and the unprecedented pace of technological change has posed some problems for Wall Street firms determined to keep up with, if not ahead of, their competitors. For small companies offering to help those firms, these have ...
Telling Tales.(Brief Article)
Feb 12, 2001; ... 2nd generation keeps company safe and sound Many business owners find it all but impossible to relinquish control of even a part of their business to their children. That was not the case with Jean W. Stimphil. ``He'd go to networking events and pass out my business ...
The Best of Bob Lape.(Brief Article)
Feb 12, 2001 ... Limoncello (3) The Michelangelo Hotel, 777 Seventh Ave. (between 50th and 51st streets), Manhattan. (212) 582-7932. Romeo De Gobbi's theater district sanctuary raises the culinary bar with new chef Jean Michel Bournot. "Mediterranean regional" means French finesse with Italian ...
Big NY firms pile on debt; many dismiss worrywarts; Companies bolster operations; those with junk ratings in trouble.(Brief Article)
Feb 12, 2001; ... In the late 1980s, as the economy started to slow, New York's big telephone company, then known as Nynex, carried a hefty debt load of nearly 90% of its equity. Today, after a decade-long spree of mergers and expensive moves into new markets, the company now known as Verizon ...
BID fee proposal deserves 'no' vote.(Brief Article)
Feb 12, 2001 ... The hard-working people who run business improvement districts in New York must be counting the days-322 after today, to be exact-until Rudy Giuliani leaves office. The mayor has done much lasting good for the city, but his unending hostility to BIDs goes against that grain, undermining a ...
Boat House makes splash under its new helmsmen; Winning ambiance and sparkling views serve to enhance the diversified menu.(Brief Article)
Feb 12, 2001; ... February may seem an odd time to focus on dining in Central Park, but why not? Whether you run, row, ski, skate, walk or are driven there, it's a magnificent venue for viewing nature and the city. Sitting near a flickering fireplace in The Boat House, sipping carefully ...
'56 revival rings some bells.(Brief Article)
Feb 12, 2001; ... With all these musical revivals hitting Broadway (Follies and 42nd Street coming soon, and Kiss Me Kate and The Music Man perking along), I went down to a rehearsal hall on lower Broadway the other day to interview Faith Prince for my page in Parade magazine. Ms. Prince, who won ...
Pataki's second-term crisis.(George Pataki, governor of New York)(Brief Article)(Editorial)
Feb 12, 2001; ... One of the best things about rudy giuliani's second term as mayor is that there can't be a third. Ed Koch and Mario Cuomo, to name the two most recent examples, accomplished so little in their third terms that both were beaten by opponents thought of as very weak. The question ...
Government Alert: Hopefuls home in on Port Authority; Blakeman, Seymour leading contenders for top spot; NYPA also needs new head.(briefs)(Brief Article)
Feb 12, 2001 ... The future of the port Authority of New York & New Jersey remains up in the air as different factions lobby Gov. George Pataki over a successor to Executive Director Robert Boyle, who announced in December he would step down. The two leading contenders are Bruce Blakeman, former ...
Executive Moves.(various companies)
Feb 12, 2001; ... ACCOUNTING & CONSULTING A.T. Kearney: Gary Orosy, 47, joined the New York office as a vice president in the consumer industries and retail practice. He was formerly a partner at Computer Sciences Corp. KPMG: Robert T. McCahill, 52, was named tax industry leader for ...
Digital new York: Venture capital queen steps down; Chase exec gives up Latin America job; counterpart at Morgan takes over.(briefs)(Brief Article)
Feb 12, 2001; ... The ``queen of the web'' for venture capital in Latin America, Susan Segal, has given up her throne. Known for pioneering investments in Internet start-ups, including Manhattan-based StarMedia Network Inc. and Buenos Aires-based MercadoLibre S.A., the former head of Chase Capital Partners' ...
The Weeks Ahead.
Feb 12, 2001; ... THIS WEEK'S EVENTS February 13. KAP Planning Ltd. holds workshop on retirement distributions under the new IRA rules. 4:00 PM to 6:00 PM, AXA Advisors, 1633 Broadway, third floor. Free. (212) 261-9800. February 13. Professional Women In Construction holds networking ...
Flexibility and perks sweeten the job pot; Part-time schedules with benefits help firms draw employees.(Brief Article)
Feb 12, 2001; ... Carmine Morano was in a bind last summer. His Staten Island-based company, Anthem Health & Life Insurance Co. of New York, had doubled its membership in the past year and he was in desperate need of more help. So he got creative-with a little help from his wife. Ms ....