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Commercial tenant protections get extension from de Blasio

first_imgCorey Johnson, Andrew Rigie and Mayor Bill de Blasio (Getty)“Today is about justice for hard-working New Yorkers,” Mayor Bill de Blasio said at a bill-signing ceremony Monday.Commercial landlords might beg to differ.One of the measures de Blasio signed into law essentially rewrites contracts many of them have with small businesses. The measure extends a ban on landlords even threatening to enforce personal-liability clauses designed to encourage business owners to pay rent.The law, sponsored by Manhattan Democrat Carlina Rivera and originally enacted in May retroactive to March 7, was set to expire Wednesday. The extension carries it through March 2021, unless a legal challenge wipes it off the books.Six of the Council’s 51 members voted against the first bill, citing the government’s interference in private contracts. At the time, the Real Estate Board of New York testified that the bill called for a “seemingly impermissible unilateral amendment of existing valid contracts.”ADVERTISEMENTRead moreNYC bill bars enforcement of personal liability clausesDe Blasio signs judgment-protection bill into law Still, commercial landlords have their own bills to pay, and to date, the City Council has not passed any special rules for them. The chamber lacks the power to waive landlords’ mortgage obligations. Some members did introduce a bill to award a property tax break to landlords who give commercial tenants a break, but the mayor has not promoted it and it has not passed.The bill does not cover every tenant. It applies to restaurants, bars, gyms, theaters, retailers subject to in-person restrictions, barbershops, hair salons and tattoo and piercing parlors.“We were able to ensure that business owners, should they be forced to walk away or temporarily shutter their stores through no fault of their own, could do so without facing threats to their life savings,” Rivera said in a statement. She noted that she had heard many tales of woe from small-business owners, but did not mention getting any from landlords.Another bill signed by the mayor Monday expands paid leave to employees of small businesses with four or fewer employees and net income of more than $1 million, in line with state law. It also compels businesses with 100 or more employees to provide up to 56 hours of paid sick leave.De Blasio also signed a measure forcing new owners of hotels to keep paying wages and providing benefits to the hotel employees for 90 days — even if the hotel is closed. Hotel owners believe that will make it harder for struggling establishments to find buyers and could lead to some shutting down.In a statement, its sponsor, Manhattan Democrat Mark Levine, did not address that issue, but said: “When tourists eventually return to our city … it is only fair that hotel workers have a path back to their jobs.”Contact Erik Engquist Email Address* Full Name*center_img Message* This content is for subscribers only.Subscribe Nowlast_img read more

Mashery and Layer 7 Get Acquired Whos Next in the API Ecosystem

first_imgWith Intel’s agreement to purchase API management provider Mashery and CA’s agreement to buy competitor Layer 7, the API ecosystem seems to have finally caught the consolidation bug. This is big news for us here at OpenView Labs, having worked closely with Mashery since OpenView made its first investment in 2011. But the acquisition isn’t just a good sign for us as investors, it’s also a vote of confidence by a couple of old-school companies that the Application Programming Interface (API) is the future of application infrastructure. In a world where internet access is ubiquitous and more and more applications are being accessed through multiple clients, API’s aren’t just for mashups anymore, they’re core architecture. This has big financial implications on anyone who has hitched their wagon to the standard. Who is that exactly? Glad you asked. While there are thousands of companies that offer and consume APIs, really only a handful task themselves with developing and building functionality on top of the standard itself. Some are large companies like IBM with a relatively small API product. But it’s the pure-play API companies that really stand to gain from Intel’s vote of confidence, and that may see a spike in interest from potential acquirers.7 Companies in the API Ecosystem Set to Catch a Ride on the Wave of M&A InterestApigeeApigee may not have taken kindly to Mashery CEO Oren Michels’s comments that they are ‘Pepsi’ to Mashery’s ‘Coke,’ but their close competition actually makes Apigee the biggest external beneficiary of the Intel-Mashery deal. They’ve raised capital and grown employee count aggressively in the past year or so, and I have to think they’re looking for a similar result. Apigee should have plenty of suitors. Many legacy hardware manufacturers like HP and Dell are trying to reinvent themselves as software companies, and are still mostly on the outside looking in at the API movement.3scale and Apiphany3scale has been around a bit longer than Apiphany, but I group them together because in contrast to Apigee and Mashery, they’re lighter, self-serve API management solutions relative to the enterprise-level agreements that Apigee and Mashery typically shoot for. While their revenue picture may be a bit behind Apigee and Mashery, the model has great potential as APIs move downstream into the SMB segment.ProgrammableWeb As the most comprehensive directory of APIs on the internet and a central authority for API-related news and commentary, PW has not only helped accelerate the API movement but has also been one of the only sources documenting it. For instance, at last count PW’s 8,922-strong directory of APIs is up 56% from the same date last year. It’s not too much of a reach to see PW and its somewhat surprising owner, Alcatel-Lucent, realize some market value from the increased prominence of APIs.IFTTT, Zapier, and MashapeAll ~10 person startups, this group is the new generation of VC-backed efforts to make APIs more accessible to the masses, blending the flexibility of APIs with consumer-grade usability. By democratizing the marketplace for APIs, they‘ll increase the reach of APIs and the benefit to their creators. They’re very early stage – with the biggest, IFTTT having raised $7m — but appear to be in the right place at the right time to capitalize on the growing use of APIs. **** Are all of these companies headed for an acquisition on the scale of Mashery? Probably not. But as the movement continues to turn the heads of big players with deep pockets, the funding and acquisition opportunities available to this ecosystem of companies should continue to strengthen. I know I’ll be watching.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to PrintPrintShare to EmailEmailShare to MoreAddThislast_img read more