Brooklyn's Progress
February/March 2008

Compiled by Zainab Aslam, Jill D'Amico and David Zeng

As 2008 gets off to a start, Brooklyn’s Progress took the opportunity to ask Brooklyn’s business leaders what they were anticipating in their own sectors. Across the board – from retail to real estate – they responded. Whether anticipating smooth sailing or casting a wary eye towards the economy, all are hoping for the best. Here are some of their responses:

Lisa Bing
Bing Consulting Group
“What I see is a very bright 2008 for the consulting profession…driven by the combination of both innovation and turmoil experienced in organizations today.
I’m finding among my leadership and strategy clients more reliance on outsiders for fresh ideas, strategic thinking and an ability to move people to perform at higher levels.

Also, clients – corporate, non-profit, even government agencies – are looking for value, not just the lowest price. “

Jonah Zuckerman
City Joinery
“Every year it seems to get better. I would expect it to do the same this year.” (Furniture designer and manufacturer)

Tom Early
Health Plus
“One of New York City's largest providers of free and affordable healthcare, Health Plus – in the niche market of state-sponsored health insurance – faces unique challenges and opportunities. One challenge, with current economic uncertainties, will be adequate state funding of our programs. Yet, with the economy struggling, we'll see even more people in need of coverage – our job will be to reach and enroll them.”

Timothy King
Massey Knakal Realty Services
“Brooklyn will see more and a greater variety of retail stores open in 2008. The reason? For a city of 2.5 million people, the borough continues to be “under-retailed” in spite of the influx of big box stores in recent years. And, just as Manhattan hipsters looking for larger living spaces have discovered Brooklyn, trendy retailers are discovering it, too. As a result, the leasing market will remain tight in the new year as the demand for desirable retail space exceeds the supply.”

Frank J. Macciarola
St. Francis College
“The forecast for 2008 looks promising.  Last year St. Francis College saw a record number of applications for admission and already this year we have received more applications for admissions than we received during the same period last year.  The up-tick means the college will be awarding more scholarships than ever before.”

Norm Brodsky
CitiStorage
“Business next year is going to be very difficult but our particular business is recession-proof…so we’re not 100% worried.”

Andrew Kimball
Brooklyn Navy Yard
“I think in the industrial sector, we think demand is going to remain strong and we’re building as fast as we can to meet the demand.”

Zach Weiner
Colonial Glass
“We’re trying to position ourselves for the green movement that is going on, and also we have added on two new value-added products – an insulated glass high performance spacer and we’ve also added on a spandrel coding system that allows us to make glass opaque with different colors. We’re hoping that if there is a downturn in the economy that our other value-added products will carry us through.”

Buddy Scotto
Scotto Funeral Home
“Economic development is a necessity. If we want to avoid a recession, or even a depression, we certainly want the economic development. The problem is that the city needs to deal with development and what comes with it – what comes first, the infrastructure and then the development? We get the development first and then they will come in with the necessary infrastructure. People are genuinely concerned that we can’t handle that kind of economic development, but we have to grow or we’ll die. We’re between a rock and a hard place. The people living here in between all these big development projects are concerned about the effects…but there’s no question about it – we need the economic development. We’re just going to suffer the pain that comes with it.”

Carol Enseki
Brooklyn Children’s Museum
“Recent public and private investment into the growth and accessibility of Brooklyn’s outstanding cultural institutions is now paying off – for our many residents and newcomers alike.  We’re thrilled!”

Gil Cygler
All Car Rent A Car
We deal with a lot of the average middle class person in New York, so we’re very much concerned about the dampening economy that people are going to have less available income to go on trips or to go wherever it is they have to go. That’s a major concern that things are going to get so tight. The cost of gas has gone up tremendously, so the cost of going on a trip in and of itself, coupled with the poor economy. Those are our main concerns. We did a lot with major corporations, but we’re afraid that things will get so tight that people won’t be able to afford to travel.”

Greg O’Connell
Pier 41 Associates
“I think there is going to be a slowdown of some sort. Right now, I’m looking to take the real estate that I have and spend time bringing it up to its full potential, rather than looking for new property. People are a little more cautious. Some are still looking for more space, but I’m also getting companies looking to downsize.”

Jim Cosares
JimCo Associates
“Prices are going up, people are getting frustrated – but it’s a necessary evil. More and more people are hoping for universal healthcare, but I don’t see it happening for a while. You’re stuck with us for a little longer. It’s a wait-and-see attitude.”

Ellen F. Salpeter
Heart of Brooklyn
“Now more than ever given the economic turmoil that we’re in cultural institutions will play a vital role in the lives of Brooklynites.”

Brian Coleman
Greenpoint Manufacturing Design Center
“We are actually concerned. A lot of our tenants do work in home and building industries and we are certainly concerned with the health and livelihood of our tenants.”

Aaron Brashear
Lost In Brooklyn Studio
“[It will be an] interesting year due to potential recession. While companies certainly may need to increase their advertising, in other sectors we’ve seen marketing as one of the first things to get cut. So, it is definitely a double edged sword.”

Jennifer Furst
Artez’n
“I honestly have no idea. I’m hoping for good.” (Gift shop store owner)

Idris Conry
Abu’s Homestyle Bakery
 “It doesn’t look too good. My supplier told me that all my ingredients have increased in price; eggs have almost tripled, flour is $100 a bag. When I started this business flour was $10 a bag. I don’t have much of an option. I have to increase my prices unless some prices rollback.”