The New York Observer - The Kingdom of New York: Knights, Knaves, Billionaires, and Beauties in the City of Big Shots

THE KINGDOM OF NEW YORK

Editors: Alexandra Jacobs, Peter W. Kaplan, Peter M. Stevenson

Art director: Nancy Butkus

Managing editor: Oliver Haydock

Historian: George Gurley

Associate editor: Will Heinrich

Designers: Alisha Neumaier, Barbara Sullivan

Production manager: Tyler Rush

Photo editor: Alana Kaloshi

Copy editor: Chris Cronis

Assistant editor: Karla Alindahao

Production assistant: Peter Lettre

Editorial assistants: Stephanie Lee, Morgan Pile, Reid Pillifant

• Salmon-colored weekly newspaper joins New York Citys media mob
• Tom Wolfe roasts yuppie tycoons in The Bonfire of the Vanities
• Yow! The Dow Jones Industrial Average plunges 800 points
• Buyout king Henry Kravis, designer Carolyn Roehm storm high society
• The Whitney bulges with Robert Mapplethorpes naughty male nudes
• New Yorkers fear nighttime walks in their nabes more than AIDS
• Dazzling Diane Sawyer shuns CBS for ABC, marries Mike Nichols
• The Ayatollah proves big publicity boost for Salman Rushdies Satanic Verses
• Tina Browns Vanity Fair is essential reading for the nouveau riche
• Takeover titan Saul Steinberg spends $1 million on his 50th birthday party
• Manhattan Borough President David N. Dinkins elected citys first black mayor

1987-1990

AUGUST 31, 1987

THE NEW YORK OBSERVER EDITORIAL

54 East 64th Street, New York, New York 10021

A Note of Explanation The copy of The New York Observer that you have in your hand is a prototype of a new newspaper devoted to covering Manhattan. The editorial content is real and is an indication of whats to come. The advertising is simulated copy to help convey what our paper will look like this fall, when we go into regular publication.

Manhattan is, above all else, unique. From Harlem and Inwood in the north, through the commercial and residential areas of midtown, and south through TriBeCa to Wall Street and Battery Park City, Manhattan constitutes a huge city complex of 1.6 million people. It contains one of the greatest concentrations of wealth in the world and some of the worst poverty. The rich and powerful in politics, business, media and entertainment make their homes here, and it is the culture capital of the world. But the city is also a place where countless people live in despair and desolation, many without homes. These extremes are only part if what makes Manhattan a complicated, fascinating and somewhat awesome place.

Covering the city is a tremendous challenge and a huge job. Our goal in launching The Observer is to publish a paper that is lively, penetrating and honest. This is the only way we can expect to attract readers and advertisers. We plan to work hard to create the best newspaper we can each week.

The Bartered Result The political art of the smoke-filled room prevailed last week as the Board of Estimate settled on a compromise that will result in the construction of 11 of the 15 homeless shelters proposed under the original plan offered by Mayor Koch. In exchange for the vote of Manhattan Borough President David Dinkins, a vote Mr. Koch needed desperately for the plan to go through, the mayor promised only one shelter in Manhattan, rather than the proposed three, and agreed to renovate 1,000 city-owned apartments for homeless families.