September 17, 2001
730 Third Ave., New York,
Industry: Financial services
Everyone knows it as
TIAA-CREF, which stands for Teachers Insurance and Annuity
Association-College Retirement Equities Fund. It's one of the
nation's larger private pension systems, providing for teachers and
other academic staff members and some non-academic
TIAA-CREF's core offerings include pension funds,
annuities and individual retirement accounts, while TIAA-CREF
Enterprises offers tuition financing, education IRAs and trust
services. Other products include life, health and disability
insurance and mutual funds.
The 80-year-old company has more
than $290 billion in assets under management and is a major
institutional investor in other companies.
2) New York Life
51 Madison Ave., New York,
The 156-year-old company is
the nation's sixth-largest life insurer but, unlike its peers,
remains private. New York Life has three key businesses: life
insurance and annuity products for U.S. policyholders; an
international arm, which provides insurance to policyholders
overseas; and an investment management division.
In June the
company bought the privately held San Francisco firm McMorgan &
Co. in a move to build its asset management division. The company's
ventures overseas and its well-performing asset management arm have
boosted operating earnings. In spite of the strong performance, the
company hit a bump in the road earlier this year when it was slapped
with a lawsuit for charging tens of millions of dollars in excess
fees to retirement plans it maintains for its workers and sales
1301 Avenue of the
Americas, New York,
Industry: Accounting and
CEO: James J.
Employees: 150,000; local,
PricewaterhouseCoopers, the world's largest accounting
firm, was formed through the merger of Price Waterhouse and Coopers
& Lybrand in 1998. Both those organizations have historical
roots going back 150 years.
In addition to audit services,
Pricewaterhouse provides tax, risk management, management consulting
and other services to clients in about 150 countries. About 60
percent of its revenue is earned in currencies other than the U.S.
The firm's fiscal 2000 revenue represented a 15
percent increase over the previous year. But due to the slowing
economy, Pricewaterhouse recently reduced employment in its
consulting group and considered cutting salaries in that unit. The
company cut 1,400 employees of the management consulting group in
the first half of this year, and announced in August that it may
eliminate as many as 750 more jobs in the unit this fall.
Deloitte Touche Tohmatsu
1633 Broadway, New York,
Industry: Accounting and other professional
CEO: James E. Copeland Jr.
Deloitte Touche Tohmatsu offers services
including accounting and auditing, tax consulting and strategic
planning in more than 130 countries. In the United States it
operates as Deloitte & Touche LLP, and employs about 30,000
people in more than 100 U.S. cities.
The global firm traces
its origins to 1845, when William Deloitte opened an accounting
office in London that at first specialized in bankruptcy. A few
years later, Deloitte was appointed independent auditor - the first
anywhere - for the Great Western Railway. The company's first U.S.
office opened in 1890. In 1952 the firm became partners with Haskins
& Sells, and in 1989 it joined with Touche Ross.
Deloitte Touche Tohmatsu - the last word in the company's name comes
from its Japanese affiliate, Ross Tohmatsu, founded in 1968 - formed
Deloitte & Touche Consulting to consolidate its consulting
operations in the United States and United Kingdom. The consulting
unit, which sold its computer programming subsidiary in 1999,
announced in 2000 that it would start a business-to-business
e-commerce venture with Chase Manhattan, now J.P. Morgan Chase &
5) Ernst & Young International
Ave., New York,
Industry: Accounting and other professional
CEO: William L. Kimsey
Ernst & Young has about 660 offices in 130
countries. In addition to traditional audit and tax services, the
company offers services including corporate finance, online security
and risk management. It also offers legal services in parts of the
world that permit it to do so.
After keeping the books for a
hat-making business, Frederick Whinney joined an accounting firm in
the United Kingdom in 1849. That accounting firm, known as Whinney,
Smith & Whinney, formed an alliance with the Cleveland firm
Ernst & Ernst shortly after World War II. The combined firm
continued to grow through mergers, including one with Arthur Young
in 1989. But in 1998, it called off a planned merger with KPMG
International, citing regulatory uncertainties.
Ernst & Young sold its consulting arm to the French consultancy
Cap Gemini Group. It thus became the first of the so-called "Big
Five" accounting firms to separate its auditing and consulting
functions at a time when regulators were pressing the industry to do
6) The Trump Organization
725 Fifth Ave., New
Industry: Real estate development,
CEO: Donald Trump
Employees: 22,000; local,
Trump continues to look for ways to expand his empire
even as some parts of it have run into turbulence.
developer and casino operator is completing a 70-story apartment
tower across from the United Nations. He agreed to pay $295 million
for partner Conseco's 50-percent share of the General Motors
Building across from Central Park.
Trump said he was in talks
to buy a 106,000-square-foot building at 30 Wall St. in lower
Manhattan valued at $25 million. The building is next to 40 Wall
St., the 70-story tower that Trump bought in 1995 for less than $8
In Chicago, Trump and Chicago Sun-Times owner
Hollinger International agreed to replace the newspaper's waterfront
headquarters with a mixed-use tower, possibly the world's
Meanwhile, stock in Trump Hotels & Casino
Resorts has suffered this year as debt analysts raised questions
about the company's ability to make interest payments on junk notes.
Despite that, Trump was looking at expanding the Trump Marina casino
in Atlantic City now that a 2,200-foot tunnel linking the marina
area to the Atlantic City Expressway has opened.
MacAndrews & Forbes Holdings
35 E. 62nd St., New York,
Industry: Holding company for cosmetics (Revlon);
savings and loan (Golden State Bancorp); motion picture
CEO: Ronald O.
Employees: 19,500; local, 500
debt and the declining value of investments in Revlon and Sunbeam
Corp., which declared bankruptcy, Ronald Perelman's fortune
reportedly may have dropped by half to about $2.5
Revlon has scaled back amid a string of losses,
selling its worldwide professional products business, Plusbelle
product line and Colorama, while closing three factories to shrink
the work force by 1,115 employees, or 13 percent.
which was the top-selling U.S. cosmetics brand as recently as 1998,
has slipped to second place. The market shares for Revlon brands
have been flat or down, and heavy discounting by competitors has
Advance Publications Inc.
Fingerboard Rd., Staten Island, 10305
Revenue: $4 billion
Industry: Media and
CEO: Samuel I. Newhouse Jr.
Advance Publications owns Conde Nast magazines,
including Vogue, GQ, Vanity Fair and the New Yorker; Fairchild
Publications, which includes Women's Wear Daily; newspapers in 26
cities, including the Staten Island Advance and The Star-Ledger in
Newark; and cable TV interests.
Advance bought Golf Digest
and other golf publications from The New York Times Co. earlier this
year for $435 million. It's a partner is AdOne, an online classified
The company is owned by the Newhouse
345 Park Ave., New York,
Industry: Accounting and
CEO: Stephen G.
Employees: 26,900; local, 2,285
accounting and tax firm, is the U.S. member firm of KPMG
International, which is headquartered in Amsterdam.
International, which has 108,000 employees in 159 countries, was
formed by the 1987 merger of Peat Marwick International with
Klynveld Main Goerdeler, an international accounting federation. The
firm focuses on providing services to five lines of business:
consumer markets, financial services, the health care and public
sector, industrial companies, and the information, communications
and entertainment sector.
In 1997, KPMG announced a merger
with Ernst & Young, but the deal was called off because of
expected difficulties winning regulatory approval.
KPMG severed itself from its consulting operations, which became the
separate firm KPMG Consulting Inc. New York-based KPMG Consulting
went public in February and trades on the Nasdaq.
277 Park Ave., New York,
Industry: Pork and poultry producer
Paul J. Fribourg
Employees: 14,500; local,
ContiGroup, a pork and poultry producer and cattle feeder,
was founded in Belgium in 1813 and previously operated in the United
States under the well-known name Continental Grain Co. The name
changed to ContiGroup in 1999 when the company sold its commodity
marketing operations to focus on meat proteins.
businesses span the globe, from shrimp farms in Ecuador to poultry
businesses in China. A spokesman said the ContiGroup poultry
business, Wayne Farms LLC, recorded its third straight year of
In December, ContiSea LLC, a joint venture of
ContiGroup and Seaboard Corp., signed a letter of intent to merge
with Fjord Seafood ASA.
Queens Blvd., Rego Park,
Industry: Real estate development,
natural gas, entertainment
CEO: Samuel J.
This diversified company, the
largest that has its headquarters in Queens, is profiled elsewhere
in this section.
McKinsey & Co.
55 E. 52nd St.,
Industry: Management consulting
Director: Rajat Gupta
Employees: 13,500; local,
The 75-year-old management consulting firm, whose
expertise includes corporate finance, marketing, organization,
technology management and strategy, has updated its operations by
creating a corporate finance practice giving advice on big
The firm, which has 85 offices in 44 countries, is run
as a private partnership. In addition to companies, the firm's
clients include foreign governments, foundations and
Among the firm's pro bono projects, it recently
advised the New York City Board of Education on its plan to
streamline and decentralize. It also helped public school systems in
Chicago, Minneapolis and Washington, D.C. And it worked with major
pharmaceutical companies to develop a new approach to drug
distribution in Africa.
Rosenthal & Rosenthal
Broadway, New York,
Industry: Factoring and finance
Stephen J. Rosenthal
or lending against receivables, is an interest-sensitive business,
Rosenthal & Rosenthal has suffered a profit squeeze as a result
of lowered rates.
"Clients are not borrowing so much," said
chief financial officer Richard Prizer. "They're not carrying
inventory, or they're carrying less inventory and being more
cautious." Nevertheless, he said, the firm maintains a "very
substantial net worth."
In the past, the company's main areas
of operation were apparel and textiles. Today, Rosenthal &
Rosenthal has concentrated marketing efforts to expand its business
in the service industries, including cars and limousines, office
cleaning and temporary health care services.
959 Eighth Ave., New York,
Industry: Media and communications
A. Bennack Jr.
Hearst owns a dozen daily
newspapers, including two of the nation's 15 largest in circulation,
The Houston Chronicle and the San Francisco Chronicle. It also owns
16 U.S. magazines, television stations and stakes in several cable
networks, including ESPN, Lifetime and A&E.
recently shuffled editors among three of its women's and fashion
magazines - Harper's Bazaar, Redbook and Marie Claire.
launch of O, The Oprah Magazine, has been highly successful and in
July the rate base was increased to 1.9 million.
is owned by the Hearst family.
Ave., New York,
Industry: Financial media company
Employees: 7,800; local, 2,700
Michael Bloomberg left the company in June to start campaigning for
mayor. If he loses the race he doesn't plan to return to Bloomberg,
which he started 20 years ago. Instead he will devote himself to
public service or philanthropy.
Bloomberg had 150,000
terminals installed worldwide at the end of 2000; that number is
expected to grow about 11 percent to 166,000 by year end. The
terminals provide up-to-the-minute prices and analytical data on
stocks, bonds and financial instruments, as well as news and other
Bloomberg owns 72 percent of the firm; Merrill
Lynch owns 20 percent and other original partners the
350 Park Ave., New York,
Web site: none
Industry: Fertilizer, liquefied petroleum
CEO: Ronald P. Stanton
211; local, 40
One of the world's largest traders in
fertilizer, liquefied petroleum gas and petrochemicals, Transammonia
operates 27 regional offices around the world to oversee trading,
distributing and transporting those products.
From a small
headquarters in Manhattan, the company has an international reach.
Trading offices operate in seven cities in the United States, Europe
and China. A subsidiary ships propane from the North Sea, Algeria
and Venezuela, and terminals receive shipments in Newington, N.H.,
and Tampa, Fla. The company is currently building an ammonia plant
in Algeria in a joint venture with the German company
Tishman Realty & Construction Co.
Fifth Ave., New York,
Industry: Construction management, real estate
development, hotel and real estate management
CEO: John A.
Employees: 911; local, 485
Founded in 1898,
Tishman projects have included the World Trade Center, the John
Hancock Center in Chicago and Walt Disney Co.'s EPCOT Center in
Recent projects include the 45-story Westin New York
at Times Square, scheduled for completion next year, and the
recently opened 32-story Reuters Americas headquarters at 3 Times
Tishman also is building a new theater under Carnegie
Hall called the Judy and Arthur Zankel Hall and a 32-story office
tower at 745 Seventh Avenue at 49th Street for Morgan
In Atlantic City, it is joint construction manager
for the 40-story Borgata casino/hotel, a $1 billion project being
developed by MGM Mirage and Boyd Gaming Corp. and scheduled for
completion in 2003.
Structure Tone Inc.
15 E. 26th
St., New York,
Industry: Construction management,
The future home of the
Bloomberg company headquarters will soon spring from the big hole on
59th Street between Lexington and Third avenues at the old
Alexander's department store site. The contract for the building's
interior was recently awarded to Structure Tone, one of the largest
interior construction companies in New York City, if not the
In business for 30 years, the company remains
family-run, with a heavyweight client roster that includes Merrill
Lynch, Chase Bank and other Fortune 500 companies. Last year was one
of the company's most successful, yet concern over the economy has
prompted an effort to focus on smaller projects to balance the
Formed in 1971, Structure Tone initially
performed only interior work, but it has expanded its services to
include construction management for entire building projects. It has
offices in 11 U.S. cities.
Renco Group Inc.
Rockefeller Plaza, New York, 10112
Revenue: $1.9 billion
Industry: Steel, coal
CEO: Ira Rennert
Owned by Sagaponack industrialist Ira Rennert, the
Renco Group is a holding company for a number of different
companies, including AM General, which manufactures the Humvee for
the military and the Hummer for civilians; two steel companies and a
coal mining company.
In 2000, Renco gained notoriety after
giving $100,000 to the Giuliani Victory Committee, a joint committee
of the mayor's campaign and the National Republican Senatorial
Committee. Now-U.S. Sen. Hillary Clinton criticized the donation,
referring to Renco as a polluter. Although Giuliani dismissed her
claims, Time magazine identified Rennert as the principal in three
companies that have been cited for pollution problems.
152-35 10th Ave., Whitestone, 11357
Industry: Distribution of pharmaceuticals
Kinray is the second-largest
company with headquarters in Queens and is profiled elsewhere in
ICC Industries Inc.
460 Park Ave., New
Chairman: John Farber
People in the market for polypropylene, pseudoephedrine
or creatine monohydrate are sure to know of ICC Industries. The
company has offices worldwide, from Brussels to Bombay to Buenos
ICC manufactures, markets and trades chemicals and
plastics, supplying pharmaceutical companies with the raw materials
used in manufacturing drugs. Started in 1950, ICC has expanded
through small acquisitions. Subsidiaries include Dover Chemical,
Frutarom Industries, ICC Trading, Primex Plastics, O'Neil Color
& Compounding, Pace Industries, Pharmaceutical Formulations and
Red Apple Group
Ave., New York, 10019
Revenue: $1.5 billion
CEO: John Catsimatidis
Though Red Apple Group does sell apples in its
supermarkets, the holding company also owns a refining company and
is a commercial real estate operator.
Its United Refining
subsidiary supplies oil to 350 KwikFill gasoline stations in upstate
New York, Pennsylvania and Ohio. Red Apple Real Estate owns mainly
commercial property in New York, New Jersey, Florida and the Virgin
Chief executive John Catsimatidis is also majority
owner of the publicly traded Gristede's Foods Inc., which operates
45 Gristede's supermarkets in Manhattan and Westchester. It is
currently converting the last of its Sloan's supermarkets to the
The S.F. Holdings
373 Park Ave. South, New York,
Web site: none
Industry: Disposable paper products
The S.F. Holdings Group
is the holding company for Sweetheart Cup and the Fonda Group. It
makes disposable paper and plastic cups, plates and food packaging.
Its Sweetheart Cup division accounts for nearly 75 percent of sales.
The Fonda Group sells to institutional food customers and consumer
Watchtower Bible & Tract Society of New
25 Columbia Heights, Brooklyn,
It takes a lot of printing to
supply more than 6 million Jehovah's Witnesses with the materials
for their ministry. One publication, Watchtower, now has an average
print run of 23 million copies twice per month, an increase of 7.5
percent over last year.
"Our report for the year is different
from a Wall Street company," said vice president George Couch.
Indeed, the company's employees are volunteers who live and work in
the Brooklyn complex.
Depository Trust and Clearing
55 Water St., New York,
CEO: Jill M.
This is the world's largest
securities depository and a clearinghouse for the settlement of
securities trading activity. It was created a year ago, through the
integration of National Securities Clearing Corp. (the clearing
corporation) and The Depository Trust Co. (the
DTC, as it's known, provides a wide range of
securities custody, asset and related tax services for its
participant banks, broker/dealers and clearing agencies. The company
has custody of securities issues worth more than $20 trillion. It
processes more than 212 million institutional trade confirmations
600 Fifth Ave., 25th Floor,
Industry: Crop fertilizers and
CEO: Francis P. Jenkins Jr.
A widespread reorganization last year appears to have
helped this fertilizer and seed company buck the one-two punch of
bad weather and fewer acres in crop production that have undermined
some of its competitors.
Royster-Clark reported increased
sales and a modest profit for the first half of 2001. This improved
performance came after a year of substantial losses that were blamed
on computer problems, interest expenses from acquisitions and energy
The company, which supplies farmers in the Midwest and
Southeast through 350 Farmarket stores, has grown rapidly in recent
years by purchasing other businesses - most recently Agro
Distribution South stores and the wholesaler ProSource
Royster-Clark, founded 125 years ago, also operates seed
plants and offers agricultural services such as crop management and
Chief executive Francis P. Jenkins Jr. said
the company entered the spring planting season filled with "optimism
and confidence that very positive [financial] results are now within
Integra Realty Resources Inc.
3 Park Ave.,
39th Floor, New York,
Industry: Real estate appraisals,
CEO: Raymond Cirz
This year Integra Realty Resources completed an appraisal
and consulting project for the richest real estate transaction in
New York history: the 99-year lease of the World Trade Center, worth
Founded in 1999, Integra specializes in real
estate valuation and consulting. Within two years, the company has
nearly met its three-year goal to open 50 offices nationwide. With
47 offices in the United States, Integra is looking to expand into
Canada and Mexico. The key to its rapid expansion, according to
chief executive Raymond Cirz, has been the company's proprietary
software, Interconnect, which "has tied all our offices
J. Crew Group Inc.
770 Broadway, New York,
Industry: Sportswear retailing
CEO: Mark A.
From back to school to casual
Fridays at work, J. Crew aims to provide its distinctive brand of
informal elegance to the masses. The company has 113 retail stores,
the J. Crew catalog business, jcrew.com and 41 factory outlet
"We are staying focused on our key strategies to
strengthen J. Crew's business over the long term," said chief
executive Mark A. Savary. Despite a drop in revenue in the past two
quarters, the company appears confident. "We continue to pursue new
business initiatives," Savary said.
There are plans to launch
a New York flagship store next year, and the company recently
introduced a corporate sales division that will sell both through
catalog and online. In March the company launched J. Crew Kids for
consumers ages 6-12.
Horsehead Industries Inc.
59th St., New York,
Industry: Zinc mining and
continues to butt heads with environmental agencies at the federal
and state levels. Though blamed by the EPA for pollution in
Palmerton, Pa., Horsehead has denied financial responsibility for
cleanup efforts. In July, the Pennsylvania Commonwealth Court
rejected Horsehead's attempts to contest two state environmental
orders halting the use of its iron-rich road-paving
Formed by a management-led buyout of Gulf+Western
Industries' New Jersey Zinc Co. in 1981, Horsehead operates
primarily through four subsidiaries: Horsehead Resource Development,
Zinc Corp. of America, Sterling Resources, and ZCA
Gould Paper Co.
11 Madison Ave., New York,
Industry: Paper distribution
Harry Gould Jr.
There has been an
argument in the paper industry about who is the third-largest paper
distributor in the United States. But come third quarter next year,
there will be no question, according to Harry Gould Jr., president
and chairman of Gould Paper. A merger between Gould and WWF Paper
Co., one of the two contenders for third, is in the final
In a "world where you either eat or be eaten," the
merger is a tactical move that "will bring us up to $1.5 billion,
give or take a bit," Gould said.
19-50 48th St., Astoria,
Industry: Wholesale liquor
CEO: Herman Merinoff
Charmer, the third-largest private company based in
Queens, is profiled elsewhere in this
565 Fifth Ave., New
Revenue: $767 million
CEO: Robert R. Dyson
Dyson-Kissner-Moran's investments are nothing if not
diverse, covering automotive, industrial and commercial products.
The holding company specializes in takeovers and
The broad range of holdings allows the firm to
offer recent MBA graduates in its "Day One" program the opportunity
to try their wings in a variety of business environments.
family-owned business was founded by Charles Dyson in 1954. His son,
Robert, is chairman and chief executive.
16 Bridgewater St., Brooklyn,
Industry: Wine and spirits
CEO: Antonio Magliocco Jr.
The number of wine and liquor distributors continues to
decrease each year, according to the Washington-based Wine and
Spirit Wholesalers of America. But chief executive Antonio Magliocco
Jr. said his company's strength has been its ability to "anticipate
Peerless is in the process of implementing a
computer system that will enable tracking of all aspects of the
business, as well as the impact on the company of industry trends
and changes in the economy.
"A lot of distributors do things
piecemeal," Magliocco said, adding that there is no place for that
anymore if a company is to survive.
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