Crain's New York - October 1, 2012 - (Page 1)

CRAIN’S NEW YORK BUSINESS ® VOL. XXVIII, NO. 40 PUBLIC THEATER’S NEXT STAGE PAGE 25 OCTOBER 1-7, 2012 PRICE: $3.00 WWW.CRAINSNEWYORK.COM Lenox Hill red ink hits North Shore-LIJ HOMETOWN HERO: Paper Enterprises President Jordan Sedler supplies local stores, employs 150 and recently bought a similar company in New Jersey. The suburban health system’s Midas touch hasn’t yet turned Manhattan into gold BY BARBARA BENSON When the behemoth North ShoreLong Island Jewish Health System entered the Manhattan market in May 2010 by acquiring Lenox Hill Hospital, it was as if category-crusher Walmart had been dropped onto the Upper East Side. With $6.7 billion in annual revenue, the Long Island system had the financial resources to invest more than $100 million in its new Manhattan flagship, from which it could challenge the city’s top hospitals. No matter that Lenox Hill was on track to lose $30 million. The Great Neck, L.I.-based system had already See LENOX HILL on Page 23 Paper profits Meet the little engine powering Port Morris’ big comeback BY HILARY POTKEWITZ Local firm seeks the sweet spot Is monk fruit the new Sweet’N Low? The race is on to find out BY ADRIANNE PASQUARELLI The sugar-substitute rivalry is bubbling up again, and a Chinese melon called monk fruit is the latest target. Local manufacturer Cumberland Packing Corp., owner of brands including Sweet’N Low and Sugar in the Raw, is launching Monk Fruit in the Raw this month. Made from the extract of the gourd-like fruit, the new sweetener will be distributed in orange packets,joining a tabletop rainbow that includes the famous Sweet’N Low pink. See SWEET SPOT on Page 24 buck ennis IN THE BOROUGHS BRONX In August, Paper Enterprises Inc., a scrappy Bronx company that supplies paper cups, soap dispensers, napkins and the like, acquired Worldwide Sales & Distributing, a New Jersey-based seller of household items and dollarstore products. To those who follow corporate mergers, a small food-service and janitorial-supply company buying an even smaller variety-store supply firm may not seem like huge news. But in the Port Morris section of the Bronx, it was a big victory for a hometown hero of sorts. After all, since setting up shop there in 1978, Paper Enterprises has helped breathe new life into the area’s economy not just by providing jobs, but also by supplying local merchants and attracting business to the neighborhood. “Paper Enterprises is one of those See PAPER on Page 9 GROWING A BUSINESS GUIDE NEWSPAPER What you need to know to cut costs, raise capital and navigate the many NYC agencies affecting your bottom line P. 13 http://WWW.CRAINSNEWYORK.COM

Table of Contents for the Digital Edition of Crain's New York - October 1, 2012

IN THE BOROUGHS
IN THE MARKETS
THE INSIDER
BUSINESS PEOPLE
CORPORATE LADDER
FROM AROUND THE CITY
OPINION
GREG DAVID
REAL ESTATE DEALS
REPORT: SMALL BUSINESS
CLASSIFIEDS
FOR THE RECORD
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS

Crain's New York - October 1, 2012