Crain's New York Business back issues from March 2007:
Global convulsion rocks Wall Street mainstays; Investors rethink speculative stakes; firms better-prepared than last time.(News)
Mar 05, 2007 ... Byline: Aaron Elstein Over the past few years, as investors regained their appetite for super-speculative stocks, hedge fund manager Jonathan Moreland put together a portfolio with some of the most obscure stuff on offer. But when markets worldwide shuddered last ...
E-learning programs earn mixed grades; New School goes to head of class; NYU plays catch-up.(Education Report)
Mar 05, 2007 ... Byline: Lisa Goff Kate fox got a bachelor's and a master's degree from The New School, and last semester she taught a journalism class for the university. Thanks to the most sophisticated online learning program in the city, she did it all without setting foot in a New School ...
More executives become leaders in the classroom; Practitioners sought in all fields; students value first-hand experience, insights.(Education Report)
Mar 05, 2007 ... Byline: Margaret Jaworski Despite his 20 years in business, including stints as president of Seagram U.S.A., Tropicana, and Sterling Winthrop's Consumer Health Group, Willie Pietersen experienced something close to stage fright the first time he walked into a classroom of ...
Companies cutting back on tuition aid for workers; Part of general cost control of benefits; burned by those who take it and split.(Education Report)
Mar 05, 2007 ... Byline: Stan Luxenberg A decade ago, few students in Fordham University's executive M.B.A. program had tuition worries. Employers typically picked up the entire tab for the program, which targets professionals, who attend classes while working full-time. But ...
Fast-track route to teaching teachers; Programs solve some problems, but low retention is an issue.(Education Report)
Mar 05, 2007 ... Byline: Tina Traster In the 1970s, New York City began having a problem drawing enough teachers to low-performing schools. In the late 1990s, the city tried attracting new blood by offering temporary teaching licenses to people who wanted to change careers. By 2000, ...
B-SCHOOLS' DILEMMA.(Education Report)
Mar 05, 2007 ... The influx of professionals and nonacademics into higher education is likely to grow. That's particularly true at business schools, as fewer M.B.A.s pursue doctorates and academic careers. Within the next five years, about 20% of business faculty members will retire, according ...
What retirement? Seniors not only still working, but loving it.(Business Lives)(aged people continue to work)
Mar 05, 2007; ... Byline: TOM FREDRICKSON Five mornings a week, Gene Meisner, 86, boards the bus in Brooklyn to head to her job as a financial adviser at Smith Barney in Manhattan. She has several reasons for working, as well as to stay vigorous and sharp: to give her husband, Sam, who ...
Liz Claiborne shedding excess; New chief gets rid of weak retail chains; will overhaul outlet unit, expand abroad.(News)
Mar 05, 2007 ... Byline: Elisabeth Butler As demi moore might say, a younger man is all one needs to rekindle that youthful glow. Liz Claiborne Inc. is trying to follow that advice as its new, 42-year-old chief executive inaugurates sweeping changes. Last week, William McComb began ...
Ski fever; snow bound.(Business Lives)
Mar 05, 2007 ... Byline: adrianne pasquarelli It's a little-known truth among New Yorkers that March can be winter's best month for skiing and snowboarding. "After Presidents Week, ski areas become a different place,'' explains Joe Cutti, deputy editor of Ski magazine. "Lift lines are gone, ...
Correction.(Corrections)(Correction notice)
Mar 05, 2007 ... Liz Claiborne Inc. operated a Liz Claiborne store at 650 Fifth Ave. until 2003, when it ...
ELDER-FRIENDLY; What NYC offers senior workers:.(Business Lives)
Mar 05, 2007 ... 1. Superior public transportation, including express buses 2. Large number of retailers that hire older people 3. Major financial services center ...
Best of Bob Lape.(Business Lives)(Mai House)(Stone Park Cafe)(Tempo)(La Cantina Toscana)(Tini)(Tre Dici)(Beppe)(Borgo Antico)(Parea)(Seven)(Trestle on Tenth)(24 Prince St.)(Restaurant review)
Mar 05, 2007; ... Here are other recently reviewed neighborhood restaurants. La Cantina Toscana (2.5 stars) 1109 First Ave. (between East 60th and East 61st streets), Manhattan. (212) 754-5454. Perhaps New York's purest Florentine food in a casual, 38-seat hideaway. Wild game, offal, ...
Spitzer's next prey: insurers; Bid to restore rate regulation alarms health plans, hospitals.(News)
Mar 05, 2007 ... Byline: Gale Scott Gov. eliot spitzer's battle with the state's hospitals over how to reform the health system is spilling over into a new arena: the regulation of insurance rates. The governor recently alarmed health insurers by announcing that he intends to pursue ...
The Weeks Ahead.(Business Lives)(Calendar)
Mar 05, 2007; ... Byline: adrianne pasquarelli this week's events march 6 Association of Real Estate Women holds lunch on life after MoMA in Long Island City. 11:30 a.m. to 2:00 p.m., 101 Park Ave., main floor. Fee: free for members and $100 nonmembers in advance; ...
Executive Moves.(Business Lives)
Mar 05, 2007 ... Byline: adrianne pasquarelli ACCOUNTING & CONSULTING ExlService Holdings Inc.: Sridhar Kadaba, 55, joined as vice president, risk advisory services. He had been director, global financial services, at Parson Consulting. Advertising & communications ...
Spitzer gets what Pataki didn't.(Viewpoint)
Mar 05, 2007 ... Eliot spitzer showed last week what a difference an activist governor can make, prodding previously recalcitrant business and labor leaders into an agreement on workers' compensation. The contrast with the workers' comp record of former Gov. George Pataki is the first thing that comes to ...
CERTIFICATE PROGRAM 101.(News)
Mar 05, 2007 ... Under the current 421-a program, the city gives affordable housing developers a tax exemption for each unit they develop. This exemption is in the form of a certificate, which affordable housing developers then sell to market-rate developers. The certificates' sale provides affordable ...
Chilly reception for B'klyn rink; Mayor's plan calls for bigger complex; skaters protest loss of openness, views.(Neighborhood Journal)
Mar 05, 2007 ... Byline: Erik Engquist When mayor Michael Bloomberg went to Brooklyn's Prospect Park last month to unveil plans to replace the 46-year-old Kate Wollman Rink with a spiffy new Lakeside Center with not one but two rinks, he anticipated that the news would be greeted warmly by ...
WEEK IN REVIEW: Smith & Wollensky sold.(Briefs)
Mar 05, 2007 ... Byline: from staff reports and bloomberg news reports Famed steakhouse chain Smith & Wollensky Restaurant Group agreed to be acquired by Patina Restaurant Group for $79.6 million. The $9.25-per-share offer tops a rival $7.50-per-share bid by Landry's Restaurants. Smith & ...
The Insider.(Briefs)(on presidential candidates)
Mar 05, 2007 ... Pataki presidential run still alive Reports of the departure of George Pataki (above) from the presidential race have been greatly exaggerated, say sources close to the former governor. Mr. Pataki released his New Hampshire staff and supporters last month to sign on ...
Hot Jobs.(Business Lives)
Mar 05, 2007 ... Byline: erik engquist WANTED: legislative director organization New York Public Interest Research Group JOB DESCRIPTION Advancing the good-government group's reform agenda in Albany MOST IMPORTANT TASKS Creating public pressure on the ...
News and politics: It's all about Daddy.(Viewpoint)(Americans support male candidates makes it tougher for Ms. Hillary Clinton)
Mar 05, 2007; ... Byline: Valerie Block Americans have spoken. They want to get their evening news from a male anchor. At least that could be inferred from the ratings race among the big three networks. While Brian Williams on NBC's Nightly News and Charles Gibson on ABC's World News duke it out ...
Developers sprint to beat; Close to two dozen projects will be started over the next several months.(News)
Mar 05, 2007 ... Byline: Julie Satow Kenneth horn has one eye trained on the clock and the other on his construction workers. He is rushing to get his foundation in the ground for a condominium development before December, when a lucrative tax break will expire. "We have no doubt ...
SCHOOLS CHIEF Keeping control.(Briefs)
Mar 05, 2007 ... Schools Chancellor Joel Klein (below) is pressing the case for continuing mayoral control of public schools, arguing that anything else would be going backward and that critics favor the "status quo.'' Addressing 300 business people and a flock of reporters at a Crain's ...
At Deadline.(Late News)(Wyckoff Heights Hospital issues I owe you's)(The Oyster Bar & Restaurant)(Terrorism Risk Insurance Act of 2002)
Mar 05, 2007 ... Troubled Wyckoff Heights Hospital in Brooklyn gave several senior executives and clinical staff members IOUs instead of paychecks when it had trouble meeting payroll late last month. In a statement, the hospital said it is "currently experiencing some challenges with short-term cash flow ....
Broker case looms; At issue: liability for termination notices.(News)
Mar 05, 2007 ... New york's highest court is expected soon to settle a long-simmering battle over how much legal protection brokerages have for statements they make on termination forms. The forms are used to report details about a broker's reasons for leaving, and the broker must disclose those ...
Tech firm tracking road to riches; Medidata makes it to top of drug trial field and now eyes a public offering.(News)
Mar 05, 2007 ... Byline: Amanda Fung Seven years ago, Medidata Solutions had eight employees working in a 1,000-square-foot office in midtown. Today, the software company boasts a staff of 434 and satellite offices in Edison, N.J., Houston, London and Tokyo. Medidata is one of the ...
New York, New York.(Briefs)
Mar 05, 2007 ... Byline: edited by Valerie Block Reservations over e-phone Could zagat.com get Skyped? A source says that master foodie Tim Zagat (left) wants to make audio a bigger part of his Zagat Survey empire. Adding eBay's Internet telephone network would make that possible. ...
Building code blues; Tangle of rules, ensuing costs frustrate hospital architects.(News)(Department of Health's Bureau of Architectural and Engineering Facility Planning)
Mar 05, 2007; ... Byline: Gale Scott Construction projects tend to cause headaches for architects. But when the ventures involve New York's hospitals, watch out for pounding migraines. Negotiating the maze of federal, city and state codes is bad enough. To make matters worse, state ...
Orbitz gets spa day; Travel giant nearing deal with NYC's Spa Finder to give users access to network.(News)(Orbitz L.L.C. will use Spa-Finders Travel Arrangements Ltd. huge network)
Mar 05, 2007; ... Byline: Matthew Flamm Orbitz could soon be adding spa treatments to its travel packages, thanks to publisher and marketer Spa Finder Inc. The two companies are close to an agreement to give Orbitz's millions of users access to Spa Finder's vast network of day spas, ...
Fancy stores flocking downtown; Suit-maker joins movement; Pfizer arranges sublease at headquarters.(Real Estate)(Canali S.p.A. moves to a new location)(Pfizer Inc. subleased its space to Quebecor Inc.)(C and J Clark America Inc. moves to a new location)
Mar 05, 2007; ... Another luxury retailer is setting up shop in the financial district. Italian suit-maker Canali has signed a 10-year lease for 2,600 square feet at 25 Broad St., at the corner of Exchange Place. Canali will have such ritzy neighbors as Tiffany & Co., Hermes and Thomas Pink, all ...
Lighting firm switches to Queens; Nesle flees high Manhattan rents; Web site, reputation help stem client losses.(Small Business)
Mar 05, 2007 ... Byline: Gwen Moran After running her high-end lighting company for 30 years, Nancy Nesle still loved the business. But she wasn't thrilled about having to work so hard just to pay the rent on her showroom and office at 151 E. 57th St. "I really wanted to spend more ...
Wined Up for the Punch; Neighborhood favorite adds comfy wine bar; main kitchen spans globe.(Business Lives)( PRINT THIS STORY EMAIL TO A FRIEND RSS FEEDS REPRINTS MOST POPULAR SEND A TIP -------------------------------------------------------------------------------- Punch/Wined Up )(Restaurant review)
Mar 05, 2007; ... Byline: Bob Lape Punch/wined up is a one-two hospitality formula of great appeal and affordability. On the ground floor is the popular, 10-year-old Punch, newly furbished and decorated with blowup covers of Punch magazine and panels of sheer fabric. On the second floor is Wined ...
Area firms lose billions in market value; Biggest index drop in 3 years; a few big caps do OK.(In the Markets)
Mar 05, 2007 ... Byline: Tom Fredrickson What do a maker of hyperviolent video games, a publishing and licensing company and the owner of a leading stock exchange have in common? Shares of all three--Take-Two Interactive, Marvel Entertainment and Nasdaq--tumbled by more than 12% last week, ...
Designing Liz Claiborne; Creative chief will look for brands to acquire, help existing labels appeal to customers.(Business Lives)
Mar 05, 2007 ... Byline: Elisabeth Butler On the hit cable TV show Project Runway, co-host Tim Gunn can make or break young designers' careers with his sharp critiques of their creations. As chief creative officer of Liz Claiborne Inc., he'll do much of the same. In the ...
All aboard the crowded train.(By the Numbers)
Mar 05, 2007 ... Noticed fewer empty seats on the train back to the burbs lately? That might be because ridership on each of the region's commuter ...
Progress report: charter schools; Advocate offers tips for success and points to stumbling blocks.(Education Report)(New York City Center for Charter School Excellence)(Interview)
Mar 05, 2007; ... Byline: Cynthia Rigg In 1998, New York state approved the formation of charter schools. By 2003, 18 charter schools had opened in the city. Since then, with the very active support of schools Chancellor Joel Klein and Mayor Michael Bloomberg, that total has grown to 58. Growth ...
DOES LAST WEEK'S ROLLER-COASTER RIDE ON WALL STREET SIGNAL THE END OF A LONG BULL MARKET? CRAIN'S ONLINE POLL.(Viewpoint)(Brief article)
Mar 05, 2007 ... The majority of the 105 respondents to the Crain's poll expect the market to recover from last week's steep decline. Nearly 50% believe that the wild ...
A dog's life.(Business Lives)(King Pup a business providing services for dogs)(Brief article)
Mar 12, 2007; ... Byline: whitney west James Phillips, 33, has walked dogs professionally for four years. His business, King Pup, has 12 to 15 clients--all in downtown Manhattan--and Mr. Phillips generally walks two to three dogs at a time. Charging $20 for 45 minutes per dog, Mr. Phillips brings ...
Investors decide there may be plenty of profit in Lehman Brothers yet.(In the Markets)(Financial report)
Mar 12, 2007 ... The best way to describe Lehman Brothers' recent stock performance is strictly subprime. Two weeks ago, the shares plummeted 8% on fears of big losses from Lehman's exposure to the cratering subprime mortgage market. Last week, those fears eased a bit, and Lehman's shares bounced back by ...
REPRINTS OF CRAIN STORIES; reprint, post published articles.(Small Business Report)(lnoffz@reprintbuyer.com)
Mar 12, 2007 ... Crain's New York Business offers reprints of the articles it publishes, which can include photos accompanying the stories. To get an estimate of the price and the turnaround time, contact Lori Noffz at Reprint Management Services, (717) 399-1900, ext. 104, or lnoffz@reprintbuyer.com. ...
10-year story.(News)(Brief article)
Mar 12, 2007 ... New york city added 62,200 jobs in 2006-10,700 more than previously reported. The official annual average of 3.66 million stands only 53,300 jobs below the peak reached in 2000. Every March, the state Department of Labor revises the data from monthly employer surveys by checking figures ...
Foreign exchange.(News)(show transfer plans of Broadway Asia Entertainment)(Brief article)
Mar 12, 2007 ... In a twist, some producers are planning to transfer Broadway shows in Chinese back to New York. Broadway Asia Entertainment is in discussions to bring the Chinese version of I Love You, You're Perfect, Now Change, with English ...
Making the case for 'loopholes'.(Viewpoint)
Mar 12, 2007 ... In December, the embattled chief executive of Citigroup assured investors that he was serious about cutting costs. Charles Prince said he wouldn't spend on small, symbolic moves such as eliminating "magazine subscriptions and black cars.'' Rather, he would look to save millions by asking ...
Shriveled profit margins make bank un-thrifty buy; NY Community stuck with high dividend and piles of mortgages.(In the Markets)
Mar 12, 2007 ... Byline: Tom Fredrickson Give new york Community Bancorp credit for trying. It has done more than other big thrifts to diversify away from the mortgage lending that most such institutions specialize in. In the last two years, NYCB has snapped up two commercial banks, ...
Spitzer rethinks Javits; Could ax current expansion plan to get bigger bang for buck.(News)(Jacob K. Javits Convention Center)(Governor Eliot Spitzer)
Mar 12, 2007; ... Byline: Anne Michaud Gov. Eliot Spitzer is considering scrapping a $1.8 billion expansion of New York City's convention center in favor of a bigger design. The governor will meet today with Sen. Chuck Schumer, who says the current plan is too small, as well as Mayor ...
Restaurateur finds hospitality in high-rise oasis; Nobu partner waiting on construction of his 3-bedroom condo to be completed.(Business Lives)
Mar 12, 2007 ... Byline: louise kramer When he was a teenager, Richie Notar worked at Studio 54, partying with regulars like Liza Minnelli, Halston and Andy Warhol. Later on, he helped his Studio 54 bosses Ian Schrager and Steve Rubell open hip hotel Morgans and then ran the restaurant at their ...
Broadway hitmakers heading to China; Nederlander latest to find huge market irresistible; creating show infrastructure.(News)
Mar 12, 2007 ... Byline: Miriam Kreinin Souccar New York's most famous Broadway family is heading to China. Nederlander Worldwide Entertainment plans to announce next week that it is forming a company that will present tours of Broadway shows throughout China and help develop a ...
Effort to rein in pay gathering steam; Shareholders target 60 companies over CEO compensation.(News)
Mar 12, 2007 ... Byline: Aaron Elstein In the coming weeks, nearly 60 leading companies will be asked to sign on to a seemingly straightforward proposal: Top executives should get supersized pay only if they produce supersized financial results. The spotlight will be aimed at some of ...
NY outfit charges up green market; Gaia at forefront of cleantech; more education about products needed.(Small Business Report)(Gaia Power Technologies introduces PowerTowers)
Mar 12, 2007; ... Byline: Victoria Rivkin Last year, buyers ranging from a Times Square hotel and a chain of coffee shops to a dental office in Connecticut snapped up Bige Doruk's state-of-the-art energy storage and management devices. This year, buyers are expected to double their purchases of ...
Childless by choice; More of city's 2-income couples opting out.(Business Lives)
Mar 12, 2007; ... Byline: Samantha Marshall Manhattan lawyer Craig Lamster always knew he didn't want kids. He was so adamant that when he and his childhood sweetheart got engaged, he made not having a family a condition of their marriage. A decade later, at 36, the proud "father'' of a ...
Executive Moves.(Business Lives)
Mar 12, 2007 ... Byline: adrianne pasquarelli accounting & consulting AlixPartners: Steve Faas, 45, joined as director of information technology. He had been vice president and chief information officer at ITT Corp. Alvarez & Marsal: Mark Belanger, 42, joined as senior ...
Renaissance man; Heading up hotel's revamp: young GM with easygoing style and Katrina cred.(Business Lives)
Mar 12, 2007 ... Byline: Lisa Fickenscher Thomas foti dresses more like a model in a Kenneth Cole ad than like a typical, button-down hotel manager. At meetings, he often sits with one leg folded under the other. The executive will also hang out occasionally, enjoying a cigarette and a Red Bull ...
Inept kitchen spoils Tavern; TriBeCa's Devin features rustic setting, capable bar, but food prep unsteady at best.(Business Lives)(Devin Tavern)(Restaurant review)
Mar 12, 2007 ... Devin tavern is a conundrum. The eight-month-old TriBeCa restaurant is one of the better-looking hospitality havens in the area. Created by the folks who gave us Dylan Prime Steakhouse, Devin has a rustic look--the work of Chris Smith of CMS Design--with two fireplaces, ...
Now arriving: A380; Passenger plane will test capability of JFK Airport.(News)
Mar 12, 2007 ... Byline: Hilary Potkewitz The long-awaited Airbus A380, the giant new plane that can carry more than 800 passengers, is scheduled to land at John F. Kennedy International Airport today after its first full-blown trans-Atlantic flight. The Lufthansa arrival will serve as a test of ...
The Weeks Ahead.(Calendar)
Mar 12, 2007; ... Byline: adrianne pasquarelli this week's events march 13 Women's Venture Fund holds workshop on skills for growing a business. 6:30 p.m. to 8:00 p.m., 545 Eighth Ave., 17th floor. Free. (212) 563-0499. march 13 Bedford Stuyvesant ...
STUDENTS SEEK HOST BUSINESSES; exploring careers.(New York city councils Exploring program)(Brief article)
Mar 12, 2007 ... The greater new york councils Exploring program seeks businesses to host sessions offering high school students the chance to explore various industries and make better decisions about career choices. Exploring puts together groups of 15 to 25 students. They meet at ...
Happy meals not required.(Business Lives)(Brief article)
Mar 12, 2007 ... Child-free couples don't pay for tuition or orthodontists, but they help keep many other industries in New York healthy. Designer clothes, alcohol, and pets and their accessories are just a few things on which dinks spend discretionary dollars. Nationally, such couples spend ...
Fulton Fish starts fresh; Cooperative structure a boon after move; all-for-one attitude prevails.(Small Business Report)(New Fulton Fish Market Cooperative )
Mar 12, 2007; ... Byline: Cara S. Trager Things got off to a rough start for Warren Kremin after the Fulton Fish Market moved to its home in the Hunts Point section of the Bronx. When the sprawling facility opened 16 months ago, the space that FathersFish Co. was supposed to occupy was ...
Rudy's law firm makes run for space; Bracewell & Giuliani expands on Sixth; fashion house opens local flagship.(Real Estate)
Mar 12, 2007 ... The law firm of former Mayor Rudy Giuliani, who is gearing up for a 2008 presidential bid, is doubling its office space in midtown. Bracewell & Giuliani has leased an additional 24,500 square feet at 1177 Sixth Ave. for a total of 49,000 square feet on the entire 18th and 19th floors. ...
WEEK IN REVIEW.(Briefs)
Mar 12, 2007 ... TV news producers out NBC and CBS replaced the producers of their evening news shows to boost the programs' ratings. NBC removed John Reiss, the executive producer of NBC Nightly News with Brian Williams, after ABC's evening show, anchored by Charles Gibson, took the top spot ...
ABC Home's letter-perfect; CEO restores furnishings retailer with unique items, unusual events.(News)
Mar 12, 2007 ... Byline: Elisabeth Butler Sitting on a tiny stool, shawl-maker Vankar Nanji Bhimji fingers a skein of indigo silk beside his loom as he chats with passersby. For generations, his family has done much the same in the Indian district of Kutch. But he is thousands of miles and a ...
Bronx courthouse acquitted at last; Building to open in April; project for vacant Brooklyn site.(Neighborhood Journal)(Bronx County Hall of Justice)(Dormitory Authority of the State of New York)
Mar 12, 2007 ... Next month, six years after construction began, the huge, $396 million Bronx County Hall of Justice will finally open--nearly two years behind schedule. The project has been plagued by setbacks. Plans called for the building to straddle East 162nd Street, but the terrorist ...
CEO pay exposes health care truths.(Viewpoint)
Mar 12, 2007 ... Byline: Greg David Herb pardes has made New York-Presbyterian the best as well as the biggest hospital in the New York area, winning U.S. News & World Report's endorsement as the sixth-best facility in the entire nation. The institution he runs is a nonprofit, but it's also a ...
Public lawyer pay wars; Agencies, interest groups hike entry-level salaries.(News)
Mar 12, 2007 ... Byline: Hilary Potkewitz Nasrina bargzie was ecstatic when she began her job at the American Civil Liberties Union in September. It was her dream job--working on high-profile civil rights cases. What's more, it paid $59,000 a year. "It was a total surprise to me,'' ...