Category Archives: News

New York: Mixing Business with Charitable Pleasure

June 7, 2015NewsCoffeed, Del Paso Heights, Viva SupermarketNYBusDist

It’s great to succeed in business. But it’s even better when one’s business venture can work with a successful charitable endeavor and help others at the same time.

That is what is happening in New York right now. Currently Coffeed has six cafes in New York (as well as a restaurant oversees), and works with a charity in all of these places, thereafter giving a percentage of its revenue to Founding. In response to this, they pay a mere $6,000 a month in rent at a very popular location.

In addition, around a quarter of the space in the café is dedicated to promoting information about Foundling and how much inequality and poverty exists in America.

Perhaps the next step for them should be opening up a market in Del Paso Heights where there has not been “a supermarket in over a year.” Dollar General carries some canned and dried goods but there is no fresh produce, poultry, fish or meat. It is hoped in the meantime that within the next two months, Viva Supermarket will open its doors to residents. But in the meantime, it’s been way too long that the city has been without a place to purchase fresh produce.

There’s a big market for thriving businesses in New York. But, likewise, there’s also tremendous potential for helping out others.

New York Business Women Rise to the Top

May 17, 2015NewsNYBusDist

New York City is today home to four of the 50 fastest-growing female-owned companies. According to the Women Presidents’ Organization and American Express Global Corporate Payments, these firms boasted $10m+ in revenue last year. The firms are: Leslie Firtell’s Tower Legal Solutions, Rebecca Cenni’s Atrium Staffing, Elizabeth Eltin’s TransPerfect and Moira Moser’s M Moser Associates.

They all have different tips for developing, maintaining and growing a business. For example, Firtell – who managed to survive the crash – found new clients, persuaded them to pay up earlier and thus managed her cash flow issues. Cenni pointed out the importance of knowing your client so well that they will turn to you for all different types of work since one of the fastest growing parts of the economy is freelance/project work.

According to Elting, it is crucial that as a business person, one is able to move with the times and respond to change quickly, and with ease. Once a client sees you can do that they will trust you with all sorts of projects.

What might be of note is that today, many women who have risen to the top are actually helping others do the same. Historically this was not the case at all. It was believed that it was so hard for women to get to the top, helping others might just be detrimental to their success. Now they are recommending them, recruiting them and going in together to make deals. This is something that men have always done. An example of this was when Maggie Wilderotter found the best deal-makers to ensure the acquisition would transpire which resulted in the doubling of the size of Frontier Communications.

Chick-Fil-A in New York

March 27, 2015News6th Avenue, Chick-fil-A, KFC, West 37th StreetNYBusDist

New York isn’t short of fast food restaurants. But there is one it doesn’t have and by the summer that will no longer be the case. Chick-fil-A is due to open its doors in a new midtown Manhattan location on 6^th Avenue and West 37^th Street. Currently there is only one in the University campus of NY but that is not a full restaurant.

The fast food chain already generates over $5 billion in yearly sales, actually beating KFC, becoming America’s top chicken fast food chain. In Manhattan the store will be three floors and it is believed that the location will enable staff to serve those who have been requesting a store in New York for some time now as well as new customers.

Under Construction: NY Economy

February 28, 2015NewsBrooklyn Navy Yard, Carnegie Mellon, Center for Urban Science and Progress, Cornell University, Technion InstituteNYBusDist

The time has come for New York’s economy to undergo a complete overhaul. According to Mayor Bloomberg, this needs to happen to get the wheels in motion as it were and be a catalyst to growth. In light of this aim, he has set up an extremely extensive program encompassing land and money for a new applied-science campus.

This idea has gained much support from institutions around the world such as: Canada, Finland, India, Israel, South Korea, Switzerland, the UK and the US. Three years ago Bloomberg was in touch with both Cornell University and Technion Institute, constructing a 2 million-square-foot campus on Roosevelt Island. It is due to open in 2017.

This is just one of four initiatives happening in New York right now. Others are: NYU guiding universities around the world to develop a Center for Urban Science and Progress in Brooklyn, Carnegie Mellon is setting up in the Brooklyn Navy Yard and an expansion is taking place in Columbia’s engineering school.

It is expected that these four initiatives will double the amount of students in New York in the field of applied sciences. As well, there are predictions that it will result in “tens of billions of dollars in economic impact and hundreds of thousands of new jobs at companies that emerge from the research of these professors and students.”

This is the way to go Mayor Bloomberg toward putting New York back on the global economic map.

New York Tippers

February 18, 2015Newsminimum wage, Tom ColicchioNYBusDist

There may be a move away from tippers and towards raising the minimum hourly wage for tipped employees such as wait staff, hairdressers etc. in New York. A state panel has suggested it be raised to $7.50 an hour (from its current $5). Others are criticizing the move saying it’s not enough since if there wage is not at least $8.75 per hour, bosses legally need to make up the difference but if they don’t, the state of New York is currently unable to enforce it and thus these workers are not being paid fairly. Thus a minimum wage needs to be set for all.

In light of this, some eatery owners are considering eliminating tipping. Instead, menu prices will be raised by 22 percent. One such restaurant owner is Tom Colicchio who has wanted to do this for some time but now, given the recommendations of the Wage Board to raise the hourly wage tipped workers can be paid, the potential increase restaurant expenses would justify this.

Others believe that the entire industry should move over to the European model whereby a service charge is just included in the clients’ bill and thus pay for workers is higher. A few restaurants do this already in America but now more are considering the option. However, there is some kind of a crowd mentality happening with restaurateurs right now as no one wants to act alone. Only if a whole bunch of them enact this, will Colicchio consider following suit.

Economic Upturn in South Bronx?

January 28, 2015NewsBronx Office, Carol Samol, Miguel SanchezNYBusDist

This could very well be the time for a shift in caliber in the South Bronx, in line with Ruben Diaz Jr., the borough’s President. There is an attempt to create what he terms a “new Bronx.” Although there is indeed additional culture sprouting up in the neighborhood, there still remains significant elements of the very much “old Bronx,” such as streets filled with auto-body tracks on the wrong side of the tracks.

So now it is hoped that this conflict as it were will become more streamlined, resulting in a place more attractive for businesses, while making more affordable housing available. The first step in that is to deal with the overly impoverished area, East New York, Brooklyn.

With this in mind – especially in the Bronx – community input is welcomed. What is needed is a solution to the fact that this neighborhood’s median household income is around half of the city’s. According to the Director of the Bronx Office at the Department of City Planning, Carol Samol, what is thus required is a “holistic” approach.

For sure the Bronx has potential of becoming a successful economic incubator. For example, back in 2012, Miguel Sanchez decided to leave Manhattan, moving his digital creative agency to a beautiful building for a mere $100 a month. That was in the Bronx – actually Sunshine Bronx, which was a recent development in Hunts Point that had traditionally been known for huge unemployment figures and prostitution.

So it can be done. Let’s just hope we see more of it in the Bronx.

Aid for NY Businesses

January 18, 2015NewsAlbany, SMEs, tax reductionsNYBusDist

There have been a few initiatives taken recently in New York in an attempt to provide assistance to SMEs. For example, a proposal from Bill de Blasio of tax reductions for SMEs (and manufacturers), if approved, will render city levies more consistent with the rest of the state. This proposal is in large part due to the $300m revenue reduction. Should the tax base be widened (via cutting some exemptions), this will help companies and no longer require them to maintain two records – one for state, one for city – facilitating some of their bureaucratic dealings.

This move would also ultimately retain jobs in the area, “expand[ing] economic opportunity, [creating] a simpler, fairer system for all.” This would also render a further $2,000 for SMEs (on average) due to the elimination of the alternative tax base on capital, paid by the majority.

The proposed new tax code is actually first of its kind since the 1940s. a few companies may end up paying a little more, but, in general, most will pay less and thus the proposal was welcomed by business leaders around the city, that is still awaiting ultimate approval from Albany.

Extremity Medical Making Strides to Help Patients

January 12, 2015NewsJamy Gannoe, Matthew Lyons, Michael LyonsNYBusDist

In the ever changing world of medical technology, it is fascinating to keep up with what’s happening just in the New York area. One young, fast moving entrepreneurial company called Extremity Medical is developing products to address the needs that surgeons face when treating hands, wrists, feet and ankles. The company was founded by Matthew Lyons and Jamy Gannoe, and has Board Members such as Blackstone Medical co-founder Michael Lyons.

Many surgeons have been frustrated with the available tools and products available for them, and many clinical studies have shown sub-optimal results. As a result, Extremity Medical is trying to meet the currently unmet needs for fusion, fixation and motion preserving systems for both the upper and lower extremities. They hope that, with their designs and improved performances, more surgeons will use their products and more patients will benefits from the technologies they bring to market.

They have brought together biomechanical engineers such as Mr. Lyons and Mr. Gannoe, who founded the company in 2008 in Northern New Jersey. For the upper extremities they have focused on restoring normal function and motion to the wrist, thumb and carpal bones. For the lower extremities they are focusing on implants for foot reconstruction. Over 200 million people in the world have diabetes and amputations are much too common. Extremity Medical, with Michael Lyons and many others, wants to develop specialized devices that help surgeons to save the lower extremities in these situations while restoring function to the foot.

This is but one example of the many medical technology companies in the New York area that are making great strides towards helping those in need.

New York: The Business of Christmas Trees

December 27, 2014NewsChristmas Tree Brooklyn, Dan Sevigny, Morgan SevignyNYBusDist

Christmas Tree Brooklyn is a tree stand and delivery service owned and operated by Dan and Morgan Sevigny in Prospect Heights. This year, the two (who happen to be brother and sister) are taking it up a notch from its standard 250 tree-per-year sale.

Christmas 2014 will witness an additional two stands and the hiring of two delivery guys. This is so that the operation can expand three-fold vis-à-vis Christmas tree sales. When they began their work for the season on December 1, operations did not run smoothly with late deliveries and the stand falling on Dan’s head. As the two explain: “the Christmas tree business is not for the faint of heart.” It’s hard work. They work 12-hour, seven-days a week, taking trees to customers throughout New York’s five boroughs, without charging a delivery fee. And thus, it has to be a “labor of love.”

The business was launched back in 2012 “on a whim.” They had seen tree merchants on Flatbush Avenue and figured they could do the same. Plus, it seemed to make sense as Dan was born on Christmas Day. Today they get tree orders from throughout the city, all sorts of sizes, from 4 feet to 14 ½ feet tall. And a lot of their job is to help people figure out what type of tree is best for them.

It may not make the best business sense. They would advise people to go into the Christmas tree business only if they are doing it with friends and family. In fact, these days it might just be easier to order online. Although of course, that just isn’t nearly as fun and lacks the traditional Christmas holiday spirit.

Top Quality Business Dining in New York

December 17, 2014NewsBarbuto, Brooklyn Fare, Hearth, Kyo YaNYBusDist

For businessmen and women dining in New York City, there are some fabulous eateries set up to cater to these needs. Here we review five of them: Barbuto (at 775 Washington Street, Manhattan), Chef’s Table at Brooklyn Fare (200 Schermerhorn Street, Brooklyn), Kyo Ya (7^th Street, Manhattan), Hearth (403 E. 12^th Street, Manhattan), and L’Artusi (228 W. 10^th Street, Manhattan).

At Barbuto customers seeking to impress clients can benefit from either the dining room or chef’s table (located in the kitchen). The latter is a true food experience, with guests being privy to their 3-4 course meal being prepared in front of them. Top quality Italian cuisine, expect seasonal modifications.

At the Chef’s Table at Brooklyn Fare, the entire restaurant is a chef’s counter. It seats 18, and is connected to the Brooklyn Fare market. Meals, according to our friends at Infatuation, are just shy of TWENTY courses, including multiple amuse-bouches, four entrees, and two desserts. Of course, at $255 a person (excluding beverages), you need to have a fat wallet or fat expense account to pick up the tab at this Michelin three-star restaurant.

Kyo Ya provides customers with a true, authentic Japanese experience. Specializing in kaiseke meals (which are meals that are served during traditional tea ceremonies), there is also a somewhat pricey tasting menu but customers can also select from the à la carte menu. In the middle of the restaurant there is an “amazing share table” which really provides, quite the overall experience! Although discussing business might not happen as one is left fascinated by their environment!

Finally Hearth offers top quality farm-to-table cuisine. Its private dining room hosts up to 28 people and offers 3, 4, or 5 course menu options. For a more intimate experience, there is a small chef’s table. Chef Marco Canora’s claim to fame is his gourmet “bone broth” (which apparently has many healing elements), and is now sold out of a window next to the restaurant.