Notice of Annual Shareholders’ Meeting

The annual shareholder’s meeting will take place on Wednesday June 30th at 7PM at the Seafarers’ and Interational House at 123 East 15th St, second floor.

At the meeting, the Board of Directors will be seeking at least one new member. If you wish to become a candidate for the Board and have your name placed on the ballot, please feel free to provide a short biography of yourself via fax (212) 986-0002 or e-mail to ymartinez@akam.com. The Board will also welcome nominations at the meeting itself.

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  • Latest New School Construction Update

    Next week (May 6 to May 10), material and equipment deliveries and installation work will continue on all floors inside the building. We will be working on the new sidewalks around the building and installing new curbs. Additionally we will be working on the roofs of the building.

    The following week (May 13 to May 17), material and equipment deliveries and installation work will continue on all floors as well as sidewalk work.

    This weekend the site will be open on Saturday, May 4th for interior, roof, and sidewalk activities between the work hours of 7AM and 5PM as permitted by the City.

  • Yet Another Construction Update from the New School

    Next week (August 15 to August 19), contractors will continue to excavate earth and rock, and load out material. Installation of bracing rakers, line drilling, lagging and sheeting around the perimeter will progress as well. Concrete foundation walls will continue along the perimeter of the site. Interior core foundation work will proceed. The following week (August 22 to August 26 ), we will continue with concrete foundation walls, line drilling, rock excavation, loading out, and interior core foundation work & underground plumbing. DEP will continue to work on the water main along 13th Street. The site will be open on Saturday, August 13th. Work hours are between 9AM and 5PM as permitted by the City. To control noise levels, work activities will be limited to the placement of formwork and rebar for concrete placement, wood lagging, and installation of walers and braces. There will be no rock excavation, rock chopping, or hauling on Saturday.

  • A Refresher Course on the Metronome Wall Art

    from Gothamist.com

    The Metronome, the hulking piece of public art omnisciently keeping time in Union Square, has been an object of both fascination and derision for twenty years. The work is meant to be a rumination on time and rituals, and features a massive rock, a whirring digital clock that means wildly different things depending on who you ask, and a hand from Union Square’s own equestrian statue of George Washington that points to its history.

    Yet something seems to be off about the Metronome. As a tipster pointed out to Gothamist, the steam that was supposed to emerge from the center of the piece hasn’t worked in ages, it doesn’t seem to have been maintained in a while, and even its website is defunct.

    That might be because the Metronome wasn’t ever finished, as Kristin Jones, the artist who created the piece along with Andrew Ginzel, tells Gothamist. It was always meant to be more than be a “gaping hole,” “void,” or “smoldering anus,” as it’s been called before. Jones says that the “dismissive and inadequate” upkeep from The Related Companies (the real estate company that owns the property) means the Metronome has never looked, or kept time, as they intended it to.

    According to Jones, the piece, a nod to European clocks’ different mechanisms for telling time, originally was going to emit steam twice daily (at noon and midnight) along with bursts of sound. It barely has, if ever. She also notes that in spite of “periodic upgrades” to the numeral display, the clock was “never correct in the first place,” especially because the artists never saw it before it went up and it never had the flexible software it needed.

    Jones knows that people seem baffled about what the numbers represent: They don’t, say, represent the national debt or the time left until the Earth implodes, and it is indeed a clock meant to be read left to right. (The left half, at least, which displays the time since midnight. The right half, which shows the time remaining until midnight, should be read right to left.)

    Curiously, the Metronome, steam and all, is prominently displayed on Related Rentals’ website, currently hawking one-bedroom apartments at the Union Square locale for a starting price north of $5,500 monthly rent. (“Live Luxuriously in a Work of Art,” it reads.) Related did not reply to Gothamist’s request for comment.

    The Metronome came about when Related approached the Municipal Art Fund in 1995, as The New York Times reported, about what to do with the building’s wall space. Eventually Related and the Public Art Fund held a competition where artists submitted proposals for the wall. Kristin Jones and Andrew Ginzel ended up getting the commission, and in 1999 the Metronome first began ticking along at Union Square.

    Since then, the artists say, they haven’t had input, or knowledge, as to how the artwork is being maintained, if at all. Jones says she’d personally rather see the Metronome be torn down instead of continue in its current state. “Since they don’t [correspond with us] I’m not interested in seeing the light bulb in the hole where there’s no steam,” Jones says. “It doesn’t make any sense.”

    Stephen Ross, the billionaire developer and chairman of Related, is responsible for Hudson Yards’ Vessel, the wastebasket-like stairway to…somewhere that owns your photos. Ross hasn’t been shy about his distaste for the piece Related had a hand in creating at One Union Square South. “It was a disaster,” he told The New Yorker last year. “That thing where the smoke comes out? Whatever the hell it is.”

    “Union Square South was and is a machine for enrichment, as is so much of real estate development today often without sincere civic vision,” Jones and Ginzel wrote in a statement. “Witness Hudson Yards. If Mr. Ross maintains ‘The Vessel’ as he has Metronome, pity the public who must contend.”

  • Filene’s Next to Go?

    Crain’s reports:

    Time may be running out for brides to dash to Filene’s Basement. The off-price retailer, famous for its Running of the Brides discount wedding dress events, is on the block. In a filing with the Securities and Exchange Commission Friday, the chain’s Columbus, Ohio-based parent Retail Ventures Inc. said efforts to cut costs “is not likely to lead to sustainable operations for Filene’s basement.”

    In January, Retail Ventures had announced the closing of 11 underperforming Filene’s stores, including one in Levittown, N.Y. Yet performance at the remaining 25 locations, which include four in New York City, “has continued to deteriorate significantly since that time,” according to the filing. Retail Ventures, which also owns footwear chain DSW Inc., said it will delay the filing of its annual results with the SEC.