Crain's New York - November 5, 2012 - (Page 8)

PEOPLE BUSINESS Public-school students stayed home last week, due to Sandy Source: The Wall Street Journal 4.7M EXECUTIVE MOVES The Africa-America Institute: Amini Kajunju, 41, joined the nonprofit as president and chief executive. She was previously chief executive at Workshop in Business Opportunities. Visa: Charles W. Scharf, 45, joined the financial company as chief executive. He was previously managing director of an investment banking unit at JPMorgan Chase and Co. SocialFlow: Missy Godfrey, 54, joined the social-media marketing company as chief executive. She was previously managing director at North Sea Partners. Clear Channel Media: Julie Talbott, 57, joined as president of content and affiliate services of the company’s national media group. She was previously president of content and affiliate relations for Premiere Networks. Third Avenue Management: David L. Resnick, 52, joined the investment advisory firm as president, a newly created position. He was previously chairman of the global financing advisory practice at Rothschild Inc. Loeb & Loeb: Patricia Anne O’Hara, 56, joined the law firm as chief information officer. She was previously chief information officer at Adaptive Solutions Inc. Centro: Kelly Wenzel, 42, joined the media logistics software and services company as chief marketing officer, a newly created position. She was previously senior vice president of marketing at Undertone. New York Life Insurance Co.: Gerald B. Smith, 62, was elected to the board of directors. He is also chairman and chief executive of Smith Graham & Co. Investment Advisors. East West Bank: Wendy Cai-Lee, 38, was promoted to senior managing director and head of the U.S. Eastern region. She was previously senior managing director and head of the New York region. Hudson Realty Capital: Geoffrey Smith, 40, joined the real estate firm as managing director. He was previously managing director at Natixis North America. GB Lodging: Eric Bass, 52, joined the hotel development and investment firm as executive vice president, a newly created position. He was previously senior vice president of development at Morgans Hotel Group. Cresa New York: Dolores Minardi, 55, joined the real estate advisory firm as senior vice president. She was previously senior managing director at Colliers International. Stephen Santoro, 61, joined as senior vice president. He was previously executive managing director at Grubb GOTHAM GIGS Flood closes pioneering Red Hook store for 8 weeks ‘We’re going to deal with this. It’s not like we have a choice’ When Fairway opened a supermarket in Red Hook six years ago, Brooklynites could barely contain their joy. On opening day, shoppers were greeted with a marching band and abundant free samples. “Stay with us throughout the day,” chirped a New York Observer reporter who liveblogged the event. “We’ll be checking back fairly often on the store.” ¶ Unfortunately, the store, located on the shore of New York Harbor, took a direct hit from Sandy last week. The bottom three shelves of food were completely submerged, and every piece of merchandise had to be thrown out. The refrigeration equipment needs to be replaced; the aisles sanitized and restocked. Howard Glickberg, Fairway’s vice chairman of development and former chief executive, estimates the Brooklyn store will be closed for six to eight weeks. ¶ “The store is my baby, one of my children,” said Mr. Glickberg, whose grandfather started Fairway in 1933. “I had tears in my eyes when I saw what happened.” ¶ While the store is out of commission, Mr. Glickberg said he hopes to find jobs for its approximately 400 employees in Fairway’s 10 other stores in the city and suburbs—provided they can get there using public transportation. ¶ The temporary loss of a popular store comes at a sensitive time for Mr. Glickberg and his company, which is in the process of trying to raise $150 million through an initial public offering. The Red Hook Fairway appears to generate about $60 million in sales annually, based on data in the IPO prospectus, although Mr. Glickberg said the store is fully insured and has loss-of-business coverage. ¶ “Look, we’ve been around a long time and we’ve dealt with some tough things,” Mr. Glickberg said. “Now we’re going to deal with this. It’s not —aaron elstein like we have a choice.” Life isn’t Fairway 8 | Crain’s New York Business | November 5, 2012 buck ennis BEFORE THE FLOOD: Fairway’s former CEO Howard Glickberg during happier times in 2009. His Red Hook store is “his baby.”

Table of Contents for the Digital Edition of Crain's New York - November 5, 2012

IN THE BOROUGHS
IN THE MARKETS
THE INSIDER
BUSINESS PEOPLE
EDITORIAL
GREG DAVID
REAL ESTATE DEALS
REPORT: EDUCATION
CLASSIFIEDS
FOR THE RECORD
DIGITAL NEW YORK
SMALL BUSINESS
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS

Crain's New York - November 5, 2012