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PAID The Brooklyn office of the American
BELLMAWR, NJ Cancer Society hosted annual event.
PERMIT NO. 1239 PAGE 8
Monthly Update
Chamber announces winners 6.) 28 Old Fulton Street, Interior ness and microenterprise develop-
Renovation ment. This year’s major event spon-
of Building Brooklyn 7.) Brooklyn Ecopolis, Mixed Use sors included Citi, JP Morgan Chase,
The Brooklyn Chamber of Com- 8.) Phoenix Beverages, National Aetna, Capital One and Con Edison.
merce announced the 13 winners of Grid Award for Energy Efficiency Nearly 200 BOC Network support-
the 2011 Building Brooklyn Awards. 9.) Brooklyn Bridge Park, Open ers including local government repre-
The winners represent an inspired, Space sentatives, community partners and HOW TO REACH US
creative mix of projects that enrich 10.) Wyckoff Exchange, Retail BOC clients attended the event. The 347-682-4867 fax: 347-682-4867
the borough’s neighborhoods and 11.) The Domenech, Residential: Af- Entrepreneurial Achievement award WHOM TO ASK FOR
economy. fordable was presented to Vincent Cuccia and Janet Warren Dugo, Publisher
“The 2011 Building Brooklyn 12.) Clinton Rising, Residential: Alex Bartlett, owners of Planet Pep- ON THE WEB
Awards nominations represent an ex- Low Rise per Inc., a Brooklyn-based business. www.brooklynbiztrends.com
citing project pool,” Brooklyn Cham- 13.) Mason Fisk, Residential: Multi-
ber President Carl Hum said. “We saw Family Northfield Bank reports for EMAIL DIRECTORY
newsroom: news@brooklynbiztrends.com
a number of applications this year of- In addition to recognizing these 13
fering new and innovative open space projects, the Chamber will honor Jed the first quarter of 2011 advertising: ads@brooklynbiztrends.com
publisher: publisher@brooklynbiztrends.com
options to Brooklyn residents and visi- Walentas, a principal at Two Trees Northfield Bancorp Inc., the hold-
DROP US A LINE
tors and a great deal of historic Management Co. LLC, and Deb ing company for Northfield Bank, re-
Business Trends welcomes suggestions and comments from
restoration and adaptive reuse. We Howard, executive director of Pratt ported basic and diluted earnings per readers – including any information about errors that may call
look forward to celebrating, for the Area Community Council. common share of $0.12 for the quarter for a correction to be printed. Send your comments to
first time, this year at the Brooklyn For more information, visit ended March 31, as compared to $0.08 news@brooklynbiztrends.com, or call 347-682-4867.
Academy of Music.” www.buildingbrooklynawards.com or for the quarter ended March 31, 2010.
SUBSCRIPTIONS
An independent, 11-member panel contact Lori Raphael at (718) 875-1000 “The strong results for the quarter Business Trends is mailed each month to the business and
of Brooklyn-based architects, plan- ext. 140 or via e-mail at are reflective of several positive fac- community leaders of Brooklyn. If you would like to receive the
ners, economic development experts lraphael@brooklynchamber.com. tors including strong loan growth, im- paper, but are not currently on our mailing list, you can request
and city officials selected the winning proved credit quality metrics and a to be added to the mailing list by emailing your name, title,
projects. Outreach Center Network sustained net interest margin, coupled company, address, phone, fax and email address to
janet@brooklynbiztrends.com.
Projects were judged on a list of cri- with disciplined expense control,”
teria including: design excellence, pos- holds BOC Awards 2011 said John W. Alexander, chairman and NEWS IDEAS
itive economic impact, enhancing The Business Outreach Center Net- chief executive officer. “During the Business Trends has limited resources to send photographers to
neighborhood services and amenities, work held the BOC Awards 2011 to cel- quarter we continued to prudently events, so the best way to seek coverage is by sending your
context to the surrounding communi- ebrate the successes of immigrant en- maintain our allowance for loan losses news release and photos to the editor at the below address, or
via email to news@brooklynbiztrends.com.
ty and sustainability. trepreneurs and local small business- and work with willing borrowers to re-
The awards will be presented on es. turn them to a performing status. I am
July 14 at the Brooklyn Academy of The event was chaired by Edward pleased to announce that the Board of
Music. The 2011 awardees are: Odom, vice president of community Directors has increased the quarterly
Business Trends is published monthly by Elauwit Media,
1.) 184 Kent Avenue, Adaptive Reuse development at Citi, and featured cash dividend to $0.06 per common LLC, 66 Willow Avenue, Staten Island, NY 10305
2.) Newton Creek, Civic and Institu- Robert A. Annibale, global director, share. The dividend is payable on May
tional Citi community development and mi- 25 to stockholders of record as of May
3.) Pratt Institute- Myrtle Hall, Edu- crofinance, who spoke on the critical 11.”
cation role that local organizations like BOC Total assets increased $108.6 mil-
4.) Erasmus Hall High School, His- play in supporting community devel- lion, or 4.8 percent, to $2.4 billion at
toric Preservation opment through financial inclusion, March 31, from $2.2 billion at Dec. 31,
5.) Brooklyn Brewery, Industrial business counseling and small busi- 2010.
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4 BUSINESS TRENDS — JUNE 2011
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Drop us a line
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6 BUSINESS TRENDS — JUNE 2011 EDITORIAL
Directors
STEVE COPPOLA RICHARD GRADO ROBERT CUTRONA LAWRENCE RAMPULLA
in our opinion
Here we go again
City Council needs to slow down
W
e have one word for the members of City Council:
Relax. While you might think you can solve all the
world’s problems with the stroke of a pen, the reality
One size fits all
By ROBERT CUTRONA An “early-warning” or “red flag” grave discussed was “mission
is that you cannot. As much as we, your constituents, might ask This story is about classic system is mandatory toward pro- spirit,” which is the pulling to-
management principles that viding timely notice of any im- gether of all the stakeholders,
you to do so, we truly don’t expect you to right all the wrongs
apply across a broad spectrum of pending problems. If we do not project people, staff, employees
out there. disciplines. Whether involved have a handle on where our and crewmembers into a goal-di-
Last month, debate on the City Council’s proposed bill, Intro with a space program or run- money is going each month, it’s rected team. This begins with a
ning a manufacturing or service too late to figure it out at year- clear and very specific commu-
251-A, heated up. If passed, the measure would require all com- firm, these principles apply. end. nication of objectives and sched-
panies that receive government financial assistance to pay a None of these are revelations, Musgrave also talked about ules from the lead person to all
but in our hustle-bustle daily simplicity and standardization. others involved. The initial and
“living wage” to employees equivalent to $11.50 per hour, or haste, it’s worthwhile to revisit All projects can be broken down subsequent communications
$4.25 more per hour than the state’s minimum wage. them. into manageable steps with at- flow should invite participation,
Recently, I attended a seminar tendant timeframes for comple- empower people to get involved,
If you are a tenant in a building that received qualified finan- presented by former astronaut tion. We should also make a build an “espirit de corps” and
cial help, you’d have to pay your employees this living wage as Story Musgrave, an incredibly practice of having back-ups for develop for all involved a passion
accomplished man who flew six people, equipment and data. for and emotional investment in
well. Oh, and sub-contractors – like your cleaning crew and Apollo missions, is a trauma sur- Nothing interferes more with the project. Passion is conta-
landscapers – would also be paid that same living wage. geon, runs three different busi- project completions than equip- gious; if you are fired up, all oth-
nesses and has earned seven ment being down or an experi- ers involved will be fired up.
Borders a bit on the ludicrous, no? Seems like if I were open- graduate degrees. The leader- enced employee being unavail- This is team building at its best.
ing or re-locating a business, I’d shy away from places like eco- ship, teamwork and motivation- able. As mentioned previously,
al principles he applies to his Musgrave also reminded us these tools are not unique but
nomic development zones that are likely to have received gov-
NASA and other work can be ef- that attaching completion dates time-tested effective principles
ernment financial assistance – not what the city would like to fective tools in our daily respon- to each task or step is critical to that are totally doable. They
hear, huh? – or, worse yet for NYC, I’d consider opening up shop sibilities. getting the project completed on worked well for the NASA proj-
The first principle, vigilance, a timely basis. Task completion ects and there is no reason why
in Jersey instead. is important during normal schedules provide specificity, they will not work effectively for
This bill intends to protect low-wage workers who, in some times but absolutely crucial dur- serve as a target and give us the us.
ing economic downturns. We ability to monitor progress.
cases, are being paid even under the state’s minimum wage. must laser focus on every aspect Again, simple stuff but impor- Robert Cutrona, president of
That’s not a laughing matter; it’s a serious problem that needs of our businesses - sales, re- tant. Project One Services, is a director
sources, spending and cash flow. The final principle that Mus- of Business Trends.
to be fixed. But a wide-sweeping living wage bill is not the way
to do it.
BITS & BYTES
What makes City Council members think that just because
this legislation would require higher minimum wages and
“stringent” reporting requirements that the problem would go
away? The businesses that are guilty of paying less than mini-
Technologies for small business
mum wage are breaking the law as it is now, so what would By BILL DUBOVSKY consider starting with good com- monitor (at least 24” diagonal,
make them abide by the city’s new rules? munications tools, deferring on Costco), good speakers (for webi-
Situation anything that does not affect the nars, conference calls, Skype,
We’re not sure how to definitively solve the problem, but we
Starting a new small business customer. That being said, I etc., Bose) and a separate or
know this way stinks. can be a daunting, confusing and would suggest a very comfort- wireless keyboard and mouse to
expensive proposition. What able chair (refurbished Aeron attach to your notebook comput-
technology you choose depends from Amazon.com), an inexpen- er. These are valuable as you can
DAN McDONOUGH, JR. Co-Chairman & Chief Executive partly on your business model. sive large work surface with be more effective if you’re com-
RUSSELL CANN Co-Chairman & Chief Financial Officer People starting as consultants, great lighting (big tables and fortable.
MICHAEL LaCOUNT, Ph.D. Vice Chairman brokers, or other knowledge clamp-on desk lamps from Ikea),
www.elauwit.com workers / professionals should and a large HDTV/computer please see BITS page 8
JUNE 2011 — BUSINESS TRENDS 7
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Janet Warren Dugo, Publisher
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a mailing list that we’ve developed from a number of leading
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janet@brooklynbiztrends.com
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10 BUSINESS TRENDS — JUNE 2011
on the job
DAVID MUESSEL forts. Prior to joining CPEX,
CPEX Real Estate Services Sendogdular was a business ana-
CPEX Real Estate Services an- lyst for ArcelorMittal, the largest
nounced the hire of David Mues- steel producer in the world. He
sel as managing also worked at Johnson & John-
director of office son on their Centocor Ortho
sales. Muessel Biotech Capital & Fixed Assets
brings more than team as part of a cooperative edu-
25 years of real es- cation experience. Sendogdular
tate and business earned a Bachelor’s Degree of
experience to science in finance with a concen-
CPEX. Prior to tration in real estate from Penn-
Muessel joining CPEX, he sylvania State University. He was
spent several a member of the Delta Sigma Pi
years representing clients in vari- business fraternity and served as
ous commercial sales and lease the vice president chair of profes-
transactions throughout Manhat- sional events.
tan and Dutchess County. In addi-
tion, he has owned and operated EILEEN PERALTA
several businesses including a Northfield Bank
very large commercial landscape
company in Texas and a variety Northfield Bank announced
of Northeastern based business- that Eileen Peralta has joined the
es. Muessel graduated from Bing- bank as a vice
hamton University. He earned his president and
MBA at Northeastern University branch manager.
and also holds numerous profes- Peralta will man-
sional certifications. An active age Northfield’s
member of several local charita- newly-opened
ble organizations and policy com- Dyker Heights
mittees, Muessel also serves as a branch, located at
trustee of one of the largest green Peralta the intersection of
industry educational founda- 86th Street and
tions. 15th Avenue. Peralta will be re-
sponsible for the day-to-day oper-
CENGIZ SENDOGDULAR ations of the branch along with
CPEX Real Estate Services developing new business in the
CPEX Real Estate Services an- area. She began her banking ca-
nounced the hire of Cengiz reer in Brooklyn at Dime Savings
Sendogdular. He joins CPEX as a Bank and most recently was an
development and conversion as- assistant manager at Sovereign
Visit us on the Web at www.brooklynbiztrends.com sociate to help promote the re- Bank. She attended Borough of
search, marketing and sales ef- Manhattan Community College.
JUNE 2011 — BUSINESS TRENDS 11
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