‘s INSIDE
TOP STORIES
Wow: A 450-sq.-foot
store that generates
$2 million in revenue
NEW YORK, NEW YORK P. 6
®
REPORT
SMALL
BUSINESS
Credit unions hope
to open loan spigots
PAGE 13
Robin Hood
Foundation
gala tops
the party
circuit
VOL. XXVIII, NO. 19 W WW. CRAINSNE WYORK. COM
MAY 7-13, 2012 PRICE: $3.00
PAGE 2
Avon rings staffers’
bells to make up
lost sales ground
PAGE 2
LDV is the hottest
restaurant group no
one’s ever heard of
PAGE 3
Betsey bankruptcy
offers opportunity
for Steve Madden
PAGE 4
IVESL USINESS B
GOTHAM GIGS
He’s no empty suit P. 21
● ANNE FISHER How the
Freelancers Union got
its start P. 21
BY THERESA AGOVINO FINANCIAL FIX FLOATED FOR HUDSON RIVER PARK Housing, hotel for Pier 40 could fund repairs for decades FINANCIAL FIX FLOATED FOR HUDSON RIVER PARK
BUCK ENNIS
The nonprofit trust managing the fi-
nancially struggling Hudson River Park
has identified a possible solution to its
problems. Building 800 apartments and
a 150-room hotel on crumbling Pier 40,
the park’s prime commercial asset, offers
the best chance to raise the funds to
keep the five-mile ribbon of park above
water, according to an internal study that
sources have shared with Crain’s.
● MOVERS & SHAKERS
Taking the bite out of
Lyme disease P. 22
How Barry Diller’s IAC plans
● GAEL GREENE NoMad
attracts crowds, so be
prepared to wait P. 23
to hatch the next Instagram
Soft-drink
brouhaha
bubbles up
INDEX
In-house tech incubators pay innovators
to dream big, sowing seeds for rich returns
THE INSIDER___________________________________________________ 8
NEIGHBORHOOD JOURNAL_________________ 9
VIEWPOINT ___________________________________________________ 10
REAL ESTATE DEALS _____________________________ 12
FOR THE RECORD ___________________________________ 16
CLASSIFIEDS ______________________________________________ 18
HOT JOBS______________________________________________________ 21
EXECUTIVE MOVES_________________________________ 21
THE WEEK AHEAD___________________________________ 23
BY MATTHEW FLAMM
Venture capitalists and tech
moguls all want to find the next
hot startup, but not everybody can
cough up a billion dollars for an Instagram. Barry Diller’s IAC/Inter-ActiveCorp. is trying a different
approach. It plans to build its own.
In the past 18 months, the par-
ent of Ask.com and Match.com
has rolled out two incubator “labs”
that between them plan to launch
10 companies a year. Some could
operate as independent businesses,
but most will become new entities
within IAC. All of them, while
they’re starting up, will have the
good things that come with a big
company, like competitive salaries
and benefits and corporate infra-
structure. IAC’s 50 websites are
also potential clients.
NY industry’s image
campaign counters
government attacks
BLOOMBERG NEWS
DILLER’S BET: IAC chairman sees 10 new
startups a year from the homegrown effort.
BY SHANE DIXON KAVANAUGH
NEWSPAPER
71486 01068 5 1 9
startups. In return for its investment, IAC gets a chance to create
the next generation of cool products at a time of intense competition for new businesses.
The labs represent a gamble.
See IAC on Page 17
Scarred by skirmishes with the
Bloomberg administration and
haunted by the specter of a soda
tax, New York’s beverage companies are fighting back.
Coca-Cola Refreshments,
Pepsi-Cola Bottling of NY Inc. and
Dr Pepper Snapple Group have
formed the industry’s first city-based trade group to battle ongoing
attacks against sugary soft drinks by
city and state officials.
As an opening salvo, the group,
See SODA on Page 20
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