Crain's New York Business back issues from January 2009:
Hard Times: News brand shops assets to cut debt; Its share of HQ may join Red Sox on block to fund pricey product as ad decline hits home.(News)
Jan 05, 2009 ... Byline: Matthew Flamm In the past year, The New York Times Co. has slashed the dividend it pays investors by 75%, cut the companywide head count by 8%, raised the newsstand price of the flagship paper while merging its sections, and consolidated two New York area printing plants ...
STRESS AND THE CITY; New York is gripped by fear. Are we headed back to the bad old days of the 1970s?(News)
Jan 05, 2009 ... Byline: DANIEL MASSEY and MIRIAM KREININ SOUCCAR The financial crisis drove Robert Lovenheim out of town. Last week, after six years in an Upper West Side luxury rental, he packed up and moved with his wife to rural Pennsylvania. The idea of paying $6,000 a month to live in a ...
An audit's details.(Small Business)
Jan 05, 2009 ... Biggest benefits are for companies with 20 or more employees and/or substantial spending on telecommunications or utilities bills. Some auditors work on ...
Navy Yard set to recruit Admiral's Row developer; Fate of old mansions to be decided; another RFP planned for site in Williamsburg.(News)
Jan 05, 2009 ... Byline: Theresa Agovino After 20 years of debate and controversy, the Brooklyn Navy Yard Development Corp. expects to issue a request for proposals for the six-acre site housing Admiral's Row--10 historic but crumbling residences more than a century old--by as early as February ....
Mortgage pros lead investors from pit; Some ex-Streeters find jobs as advisers; survivors get less pay.(News)
Jan 05, 2009 ... Byline: Aaron Elstein At rrms advisors' offices in an aging building on East 40th Street, Vincent Spoto and his four partners share space with a small headhunting outfit, and they hold meetings in a windowless conference room the size of a large closet. The ...
The Insider.(Briefs)
Jan 05, 2009 ... Byline: Erik Engquist and Matthew Sollars The budget battle and the crystal ball gov. david paterson's budget includes a laundry list of cuts and new ...
NEW YEAR'S RESOLUTIONS.(Briefs)
Jan 05, 2009 ... Mayor Michael Bloomberg: I resolve to consult regularly with Ed Koch about the perils of becoming irascible, cranky and ineffective in my third term. I resolve to stop pretending that Deputy Mayor Kevin Sheekey does anything without my explicit approval and encouragement. I resolve to make ...
Best of Bob Lape.(Business Lives)(Restaurant review)
Jan 05, 2009 ... More Indian and Latin destinations: Bengal Tiger (3 stars) www.bengaltiger1.com 144 East Post Road, White Plains. (914) 948-5191. One of the best Indian restaurants in America. Rayuela (3 stars) www.rayuelanyc.com 165 ...
POLL COMMENTS: Caroline can't coast on famous name.(Viewpoint)
Jan 05, 2009 ... She's never been worthy, never been qualified, never been experienced in anything remotely connected with being a senator. If her last name wasn't Kennedy, this poll wouldn't exist. Caroline Kennedy is the Democrats' Sarah Palin. I'm for Tom Suozzi. ...
Caroline bobbles her Senate bid; Awkward Kennedy still has supporters.(News)
Jan 05, 2009 ... Byline: Erik Engquist Caroline Kennedy has severely damaged her bid for the U.S. Senate and has little time to salvage it, campaign consultants say. After bombing in her media rollout and failing to impress political and labor leaders in private meetings, she no longer appears ...
The Weeks Ahead.(Calendar/Datebook)
Jan 05, 2009 ... Byline: maia blume This Week's Events January 6 Lower Manhattan Business Solutions Center holds seminar on starting a business. 4 p.m. to 5 p.m., 79 John St., second-floor conference room. Free. (212) 618-8914 or mramirez@seedco.org. January 7 ...
Puma takes steps toward expansion.(Real Estate)
Jan 05, 2009 ... Sneaker company doubles space in midtown office Sneaker maker Puma North America is more than doubling its footprint at 209 W. 38th St., between Seventh and Eighth avenues. Puma already has 5,400 square feet on the sixth floor and during this quarter plans to take ...
In Brief.(Briefs)
Jan 05, 2009 ... Nearly 80% of the city's nonprofit cultural institutions, which range from big-name museums to small dance troupes, report they already have or are planning to cut their budgets, according to a new survey by Alliance for the Arts provided exclusively to Crain's. Almost half are canceling ...
Brooklyn Flea hops indoors; Market spinoff comes to Dumbo; aims for higher- caliber vendors.(Neighborhood Journal)
Jan 05, 2009 ... The brooklyn flea is taking shelter. The eclectic antiques and art market that has become a popular Sundays-only fixture since its launch in Fort Greene in the spring, will open indoors in Dumbo. The market, sponsored by real estate blog Brownstoner.com, went on a cold-weather ...
Why pay for TV? Many young professionals live without cable.(Business Lives)
Jan 05, 2009 ... Byline: amanda fung When maren wolf and her boyfriend, Joey DiSilvio, moved to New York City from the West Coast in August 2007, they didn't have full-time jobs and couldn't afford cable television. Ms. Wolf, 23, has since landed a nursing job at Harlem Hospital ...
Indian-Latin hits Manhattan; New midtown duplex offers creative fusion cooking with flair; has kinks to iron out.(Business Lives)
Jan 05, 2009 ... The indian-born women driving the new At Vermilion in the old Django space hope that "the most vibrant of reds'' will not be the ink in which its history is written. Majority owner Rohini Dey, executive chef Maneet Chauhan and chef de cuisine Ipshita Pall are spinning off a ...
Has Caroline Kennedy proved herself worthy to be a U.S. senator? CRAIN'S ONLINE POLL.(Viewpoint)
Jan 05, 2009 ... 357 votes Date of poll: Dec. 30 41% No. She's created a backlash among people who think she's lobbied too hard for the position and is too willing to trade on her famous name. 36% No. Her campaign to become ...
Tips for avoiding a return to the '70s.(Economic Outlook Report)
Jan 05, 2009 ... Byline: Alair Townsend We're just not going to return to the dark old days of the '70s, when service cuts all but destroyed our quality of life.'' In saying this, Mayor Bloomberg is acknowledging the terrible price the city paid during that time but not all of the lessons to be ...
Mayor needs an economic plan.(Viewpoint)
Jan 05, 2009 ... The proposition Mayor Michael Bloomberg has put to New Yorkers goes something like this: "In the past seven years, I have demonstrated the political courage and managerial savvy that will be needed to guide New York through the tough times ahead. I will make the difficult choices necessary ...
Milberg rides Madoff; Scandal-plagued law firm rebuilds image, representing Ponzi scheme victims.(News)
Jan 05, 2009 ... Byline: Hilary Potkewitz Bernard madoff is said to have ruined many a fortune, but for one law firm, history's largest alleged Ponzi scheme is opening the door for a comeback. The law firm formerly known as Milberg Weiss--considered the go-to firm for shareholder ...
Music marketing muse; EMI appoints head of marketing for its 13 record labels; parent is in trouble.(Business Lives)
Jan 05, 2009 ... Byline: Amanda Fung When howard Handler joined MTV Networks 16 years ago, he played a critical role in the cable network's transition from music videos to original programming, helping to launch shows like Beavis & Butt-head and The Real World. The marketing ...
Young inmate's fate in doubt; Effects of charity's collapse felt far away from NY elite.(News)
Jan 05, 2009 ... Byline: Miriam Kreinin Souccar Joe sullivan has never heard of Bernard Madoff. But he may never see freedom because of him. The 31-year-old was sentenced to life in prison without parole when he was just 13 for a sexual assault some say he didn't commit. After ...
WHAT'S IN STORE FOR 2009.(News)
Jan 05, 2009 ... The city's unemployment rate will hit 9%. --Fiscal Policy Institute The city will lose 175,000 jobs, including 38,000 Wall Street jobs. --NY state comptroller Wall Street bonuses will be cut in half. --NY state comptroller City real estate transaction ...
New York, New York.(Briefs)
Jan 05, 2009 ... Byline: Valerie Block Film, TV shows produce jobs Ugly betty, starring America Ferrera (above), was partly responsible for the one pretty number to come from the city's November jobs report--the worst since Sept. 11. The city lost 20,900 private-sector jobs in areas ...
Misery Meter; Weekly reading on the direction of the city's economy.(News)
Jan 05, 2009 ... -4.9% Change in number of tourists visiting from July through December, versus a year earlier (NYFiscalwatch.com) -20,900 Number of private-sector jobs lost in the city in November. (NYS ...
Executive Moves.(Business Lives)
Jan 05, 2009 ... Byline: maia blume Accounting & Consulting Deloitte Financial Advisory Services: Irene Walsh, 51, joined as a managing director and U.S. leader of the infrastructure and project finance advisory practice. She had been an executive director at UBS. Eisner: ...
DEADLINE FOR DIGITAL; Action needed to maintain TV signal.(Business Lives)
Jan 05, 2009 ... If you are a New Yorker who depends on an antenna for TV service, you will have to take action before Feb. 17--the day that TV stations are required to broadcast programming strictly through digital transmissions--to continue receiving a TV signal. You have at least three ...
TOP 10 REASONS NEW YORK ISN'T HEADED BACK TO THE 1970s.(Economic Outlook Report)
Jan 05, 2009 ... 10 The mayor says so. 9 President-elect Barack Obama won't tell the city to drop dead. Experts say his proposed stimulus package could provide a boost to the city. 8 We won't lose the 285,000 manufacturing jobs that we did between 1969 and 1976. In fact, we have only ...
An audit's details.(Small Business)
Jan 05, 2009 ... ***** Correction: Yosef Rabinowitz is managing director of TBRC Cost Recovery. His name was misspelled in the Jan. 5 small business column. ***** Biggest benefits are for companies with 20 or more employees and/or ...
RUDIN MANAGEMENT CO.(Real Estate Report)
Jan 12, 2009 ... Bill Rudin oversees a real estate company that owns 17 office buildings of various vintages, sizes and descriptions around town. In dicey markets like this one, the normal flow of lease expirations presents a major challenge. "We've got 290,000 square feet coming on line at 345 ...
COHEN BROTHERS REALTY.(Real Estate Report)
Jan 12, 2009 ... For many developers, the past five years brought unprecedented opportunities to buy, build and sell office property, but not for Charles Cohen. The president of Cohen Brothers Realty decided to sit the party out, spending his cash on buildings he and his family had bought over the past 50 ...
WHERE THE WELL-HEELED ARE.(Real Estate Report)
Jan 12, 2009 ... New York City is shoe repair central. The Shoe Service Institute estimates there are about 200 shops in the city. Because malls never made much headway in the city, street-level shops were able to survive here while they failed elsewhere. Nationwide, the ...
Bernie's Bagman; Merkin sucked into maelstrom of Madoff's scheme; suits expected from faithful clients who lost billions.(News)
Jan 12, 2009 ... Byline: Aaron Elstein J. ezra merkin had it all. He managed nearly $7 billion out of a plush Park Avenue office. He was chairman of one of the nation's largest lenders, GMAC, and he served on the boards of prominent nonprofits. He is a trustee of Carnegie Hall and heads one of ...
In the Markets.(News)
Jan 12, 2009 ... Byline: Erik Ipsen NY area's losers swamp the winners For many companies, last year was the grimmest in memory. For many New York area firms, it was that and more. Over the course of the year, the Bloomberg/Crain's Index of 196 area stocks plummeted by 42.9%. That ...
Hot Jobs.(Business Lives)
Jan 12, 2009 ... Byline: amanda fung WANTED: president and ceo organization New York Blood Center JOB DESCRIPTION Oversee one of the nation's largest nonprofits and community-based blood centers MOST IMPORTANT TASK Continue to expand the organization ...
Best of Bob Lape.(Business Lives)(Restaurant review)
Jan 12, 2009 ... Other eateries of Asian persuasion: Tengda Asian Bistro 3 stars www.tengdaasianbistro.com 286 Katonah Ave. (next to the post office), Katonah, N.Y. (914) 232-3900. A colorful pan-Asian attraction serving hefty portions of delicious food with ...
LANDLORDS GET CREATIVE.(Real Estate Report)
Jan 12, 2009 ... More and more landlords are embracing the concept of short-term leases as the lesser of two evils--the alternative being empty space. When a Manhattan-based law firm moved out of its 15,000-square-foot home at 125 Maiden Lane, landlord Time Equities Inc. decided not to look for ...
Correction.(Corrections)(Correction notice)
Jan 12, 2009 ... Yosef Rabinowitz is managing director of TBRC Cost Recovery ....
The Insider.(Briefs)
Jan 12, 2009 ... Byline: erik engquist and matthew sollars Decisions, decisions Wiretaps captured the governor of Illinois crowing that his power to appoint a U.S. senator was "golden,'' but for his counterpart in New York, it seems more like a lead weight. Gov. David Paterson ...
THE DURST ORGANIZATION.(Real Estate Report)
Jan 12, 2009 ... Ten years ago, The Durst Organization hired an investment bank to see how the family-run business should reposition itself. "We wanted them to study how much bigger we should grow our property portfolio, whether we should consider becoming a REIT, everything you can think of,'' ...
The perils of real estate hype.(Viewpoint)
Jan 12, 2009 ... "Anyone who thinks price appreciation is over in this market is dreaming.'' --a leading Manhattan real estate broker, July 2008 The bottom is finally dropping out of the city's residential real estate market, and there are lessons to be learned as to what happened over the past ...
Madison Ave. caught; Vacancies soar along gilded strip; 5-digit rents driving away all but the jewelers.(News)
Jan 12, 2009 ... Byline: Cara S. Trager At crisci tanino, a posh leather-goods store on Madison Avenue and East 67th Street, Patrizia Sicari routinely sold five pairs of shoes at a time--with some costing more than $1,000. No more. "Now, they are buying one pair or nothing ...
Bernie's Victims.
Jan 12, 2009 ... Byline: hilary potkewitz Phyllis Molchatsky Age 61 Years investing with Madoff 7 Losses $2 million sitting at her desk in the Rockland County branch office of a brokerage firm one day in 2001, Phyllis Molchatsky noticed her pinky ...
What's ahead for city: tale of 4 downturns.(Viewpoint)
Jan 12, 2009 ... Byline: Greg David In the past four decades, New York has been engulfed by three major recessions before this one. The most compelling question now is illustrated by the following numbers: 225,000, 329,000, 610,000. Those numbers represent jobs lost in the downturns ...
New faces on deck for Fashion Week; Big-name designer dropouts open door.(News)
Jan 12, 2009 ... Byline: Adrianne Pasquarelli Fur-trimmed jackets and chic gowns are not the only things debuting on the runways at Fashion Week at Bryant Park next month. The eight-day event will feature some fresh faces when it begins Feb. 13. With the retail industry still reeling ...
In Brief.(Briefs)
Jan 12, 2009 ... The number of visitors to the Statue of Liberty and Ellis Island increased 5.2% last year, to 3.6 million. The number could have been even greater, however, if passengers could pass through security more quickly, according to Statue Cruises, the ferry company that transports visitors to ...
Architect fits landlord's design; Pricey renovation helps draw Goshow to West 28th Street.(Real Estate Report)
Jan 12, 2009 ... Goshow architects inked a 10-year deal for the entire fifth floor of 44 W. 28th St., between Broadway and Sixth Avenue. The asking rent for the nearly 11,600-square-foot deal was $40 a square foot. Last year, the building's owner, Stellar Management, completed a roughly $6 ...
METER MADNESS.(Real Estate Report)
Jan 12, 2009 ... For generations, landlords have relied on a host of special "service charges'' to boost their earnings. On services ranging from freight elevator use to submetered electricity charges for each space, building owners ...
Apthorp owners' dispute may hit rabbinical court; Warring partners try to settle before lenders move in.(News)
Jan 12, 2009 ... Byline: Theresa Agovino The two warring owners of the famed Apthorp apartment building have won an extra six days to work out their differences before one of their lenders moves to throw the building into default. Maurice Mann, an owner of the West Side landmark, said ...
Should Bernard Madoff's bail have been revoked? CRAIN'S ONLINE POLL.(Viewpoint)
Jan 12, 2009 ... 489 VOTES Date of poll: Jan. 6 91% Yes. By his actions, he violated a court injunction that froze his assets. He can't be trusted and should ...
WANTED: president and ceo.(Business Lives)
Jan 12, 2009 ... WANTED: president and ceo organization New York Blood Center JOB DESCRIPTION Oversee one of the nation's largest nonprofits and community-based blood centers MOST IMPORTANT TASK Continue to expand the organization CREDENTIALS NEEDED Proven ...
Misery Meter; Weekly reading on the direction of the city's economy.(News)
Jan 12, 2009 ... $11.3B CITY'S expected budget gap over next two fiscal years (NYC Independent Budget Office) 524,000 ...
BUYERS' LESSONS.(Real Estate Report)
Jan 12, 2009 ... Brokers are not the only ones scrambling to remember the lessons of previous downturns and turning to more seasoned colleagues for help: Landlords are in the same boat. Those who've been there know that in both selling and managing real estate, lean times call for a mix of ...
Shedding Those Holiday Pounds.(Business Lives)
Jan 12, 2009 ... Byline: willow jarosh Portion size has a huge effect on weight and gets blown out of proportion during the holidays. To get back in shape, use a salad plate instead of a dinner plate and fill half with veggies and half with whole grains and protein. Try not to skip ...
TriBeCa tribute to a sinful site; Macao Trading evokes earlier era with Portuguese-Chinese dishes; hard to find.(Business Lives)
Jan 12, 2009 ... Byline: Bob Lape Visiting Macao Trading Company requires a spirit of adventure, and more than a little patience. With no signage, it's hard to find. The search, however, pays off in an exotic atmosphere inspired by a nefarious Southeast Asian sin-in-the-sun site of almost 70 ...
New York, New York.(Briefs)
Jan 12, 2009 ... Byline: Valerie Block New players' shirts score with fans Sales of David Wright and Derek Jeter T-shirts have slowed as Mets and Yankees fans make way for two new stars on the diamond. Fans are scooping up shirts bearing the names and numbers of free-agent pitchers ...
THE COMING DELUGE.(Real Estate Report)
Jan 12, 2009 ... The scarcity of retail condos on the market may end late this year, according to several brokers. They note that nearly $36 billion in securitized loans written in 2006 and 2007 will come due in the second half, triggering defaults and, ultimately, forced sales. Much of that ...
LaGuardia hatches design incubator.(Neighborhood Journal)
Jan 12, 2009 ... Byline: hilary potkewitz Community college facility aims to boost small business in immigrant-rich area Starting this month, 10 young Queens designers interested in starting their own businesses will begin one-year stints in a brand-new business incubator being set ...
SENATE DEAL Pain vs. gain.(Briefs)
Jan 12, 2009 ... The deal that put Democrats in control of the state Senate and made Malcolm Smith majority leader produced gain and pain across the political spectrum: WINNERS Malcolm Smith. He might never be as powerful as Joe Bruno was, and he's been tarnished by the process of ...
Poll Comments: Madoff belongs in the slammer.(Viewpoint)
Jan 12, 2009 ... The man is the vilest of the vile, is he not? A hard-core sociopath narcissist who probably has no sense of guilt or shame. Lock him up and throw away the key. Why does he deserve special dispensation? If I had stolen a chicken from Whole Foods, I'd have been on Riker's that night. ...
Occupancy drop forces layoffs at hotels; Housekeeping staffs take the biggest hit; upcoming events, new properties offer hope.(Bernie's Victims)(Calendar)
Jan 12, 2009 ... Byline: Lisa Fickenscher Now that the holiday season--one in which deep discounts kept Big Apple hotels hopping--is over, the industry is joining the pink slip parade. Tourists have skipped town, leaving in their wake plummeting occupancy rates and hotel managers who ...
Delta's NY air force; Troubleshooting skills will help exec run local operations postmerger, add traffic in tough era.(Business Lives)
Jan 12, 2009 ... Byline: Hilary Potkewitz In gail grimmett's 13-year career with Delta Air Lines, practically every promotion has coincided with an economic disaster. She was put in charge of corporate forecasting shortly before the Sept. 11 terrorist attacks, after which air travel came to a ...
Sports Museum in trouble; Downtown facility slashes admission fee, markets itself to improve attendance.(News)
Jan 12, 2009 ... Byline: Miriam Kreinin Souccar The sports museum of america, one of the newest cultural venues in the city, opened to fanfare eight months ago. But hugely disappointing attendance and the economic downturn have forced the museum to lay off staff, slash its admission price and ...
No helping hand; Struggling families sue mortgage fixer AMA; paid but got nothing in return.(News)
Jan 12, 2009 ... Byline: Daniel Massey The mortgage payments on their Queens home had already shot up $400, to $3,200 a month, when the grim news arrived: Aoah and Equintal Middleton's 8-year-old daughter's cancer was back. The family had been struggling to keep up with the high ...
Lowly beer hits high-end eateries; Famed chefs add brews to menus as consumers pinch their pennies.(News)
Jan 19, 2009 ... Byline: Lisa Fickenscher The name daniel boulud has long been synonymous with haute cuisine and fine wine served up in plush dining rooms. This spring, the four-star chef will try something different. He will open a brasserie. "It will have a beautiful cement floor ...