Crains New York - August 6, 2012 - (Page 1)
CRAIN’S
NEW YORK BUSINESS
AUGUST 6-12, 2012 PRICE: $3.00
THE BUSINESS OF SPORTS
Inside the Spongetech stadium scam
P. 11
2014 Super Bowl: It’s crunch time
P. 11
The List: NY-area pro sports teams
P. 13
®
VOL. XXVIII, NO. 32
WWW.CRAINSNEWYORK.COM
Surge in shipping has New York hot on L.A.’s heels
Fueled by Chinese imports, metro area’s port traffic approaches West Coast levels
BY ANDREW J. HAWKINS
ness reported. Chinese imports grew at a faster rate for New York than for L.A., accounting for much The New York metropolitan of the discrepancy. area is within “striking distance” of “It is not inconceivable that overtaking Los Angeles as the New York could surpass Los largest trade region in the Angeles as the largest trade nation, according to a area in the country,” wrote new report. Eugene Spruck, a Weissman INCREASE IN New York is the naCenter fellow and former TRADE last tion’s third-busiest port, chief economist for the Port year for N.Y., right behind L.A. and Authority of New York and the No. 3 port in the nation neighboring Long New Jersey. behind L.A., Beach. But the region is The Port Authority’s own Long Beach growing at a faster pace numbers back up that optithan its West Coast rivals.Two-way mism. June in particular was a good trade through New York’s seaports month for the region, as the and airports increased by 18% in 276,225 container “lifts”—the 2011 over the prior year, to $418.3 number of times a crane lifted a billion, while L.A.’s traffic grew by container off a ship—made it the 12%, the Baruch College’s Weiss- second-best June on record. Rail See NY PORTS on Page 32 man Center for International Busi-
18%
Battle of the bazillionaires
Ron Perelman
In a Hummer of a legal fight, Ron Perelman, Ira Rennert trade some nasty accusations
BY AARON ELSTEIN
Ron Perelman and Ira Rennert have a lot in common. Both have amassed huge fortunes, thanks to their knack for buying out-of-favor companies, exIra Rennert tracting big sums and then selling the holdings for even more. The 69-year-old Mr. Perelman is worth $12 billion, according to Forbes, making him the fifth-wealthiest New Yorker, and his house is understood to be the largest in East Hampton.The 78-year-old Mr. Rennert weighs in at $5.4 billion, and his estate, a few miles from Mr. Perelman’s, is thought to be the largest private residence in the nation. Both men are also members of the Fifth Avenue Synagogue, where Mr. Rennert is honorary chairman.
See BATTLE on Page 30
Nuts for theNets
How a freewheeling Russian magnate turned the NBA’s doormat into its hottest property
BY DANIEL MASSEY
In February, the owner of the Brooklyn Nets, Mikhail Prokhorov, appeared on a Russian television comedy show called Spotlight Paris Hilton, and offered a musical tribute to his co-owner, hip-hop star Jay-Z. “Mr. Jay-Z, this rap is for you,” went the English portion of the lyrics.“Mr. Jay-Z, this is the first presentation/of real rap music from Russian Federation. Mr. Jay-Z, you are not alone/Mikhail Prokhorov on the microphone.” According to Mr. Prokhorov, a reprise is in the works, but this time in downtown Brooklyn, where Jay-Z will open the $1 billion Barclays Center with a series of sold-out concerts this fall. “Yes, I will rap at his concert,” Mr. Prokhorov informed Crain’s via email. “I am in rehearsals now 10 hours a day and plan to demand joint billing.” The metal magnate with a sense of humor and the rap mogul from Brooklyn are an unlikely pairing. One served See NUTS on Page 12 in the Soviet military, joined the Communist Party, became a businessman
HELLO, BROOKLYN: Nets owner Mikhail Prokhorov (with, clockwise from top right, rap icon Jay-Z, borough booster Marty Markowitz, arena developer Bruce Ratner and player Deron Williams) has doubled the value of a team he bought only two years ago.
newscom
NEWSPAPER
http://WWW.CRAINSNEWYORK.COM
Table of Contents for the Digital Edition of Crains New York - August 6, 2012
Crains New York - August 6, 2012
Contents
In the Boroughs
In the Markets
The Insider
Business People
Opinion
Greg David
From Around the City
Report: Business of Sports
Classifieds
Small Business
Real Estate Deals
Helluva Town
Source Lunch
Out and About
Crains New York - August 6, 2012
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130812
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130729
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130722
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130715
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130708
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130624
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130617
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130610
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130603
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130527
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130520
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130513
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130506
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130429
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130422
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130415
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130408
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130401
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130325
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130318
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130311
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130304
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130225
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130218
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130211
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130204
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130128
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130121
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130114
https://www.nxtbook.com/nxtbooks/crainsnewyork/20130107
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121224
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121217
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121210
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121203
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121203_v2
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121126
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121119
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121112
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121105
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121029
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121022
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121015
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121008
https://www.nxtbook.com/nxtbooks/crainsnewyork/20121001
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120924
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120917
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120910_v2
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120910
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120827
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120820
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120813
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120806
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120806_v2
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120730
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120723
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120716
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120709
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120625
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120618
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120611
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120604
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120528
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120521
https://www.nxtbook.com/nxtbooks/crainsnewyork/20120514
https://www.nxtbook.com/nxtbooks/crainsnewyork/nxtd
https://www.nxtbookmedia.com