Hi Joe,
I am able to reproduce this issue also. Once I went into the Site Settings of the new site and set the master page to "Inherit site master page from parent of this site" the web part worked. I was also able to see the company containment drop down in the navigation menu across the top of the page. My site happens to run on MOSS which allowed me to do this via the Site Settings interface. If you are using WSS, you can do the below steps taken from the Business Portal 4.0 Integration Guide:
Setting a master page with WSS
The web-based administrative interface for WSS does not provide a way to set the
master page for a site. To do this, you must use Visual Studio to write and run code
that accesses the SharePoint API to set the master page properties for the site. The
following procedure describes this process.
1. Create a new Visual Studio project.
A command-line application is adequate for setting WSS properties. This
example uses a C# project.
2. Add references to access SharePoint.
To access the SharePoint API, you must add a reference to the
Microsoft.SharePoint assembly. In the Project menu, choose Add Reference.
Choose the Windows® SharePoint® Services assembly and click OK.
3. Add a using statement.
To provide convenient access the SharePoint API, add the following using
statement to your code:
using Microsoft.SharePoint;
4. Write the code to update the master page property.
The MasterUrl property specifies the relative path to the master page that the
site will use. The following C# code opens the BPSDK sample site and sets the
to use the BusinessPortalDefault.master master page.
SPSite website;
SPWeb webinstance;
// Open the BPSDK (custom) site
website = new SPSite("http://gpsdk/BP/BPSDK");
webinstance = website.OpenWeb();
// Specify the master page to use for the site
webinstance.MasterUrl = "/_catalogs/masterpage/
BusinessPortalDefault.master";
webinstance.Update();
5. Build the application.
From the Build menu, choose to build the solution.
6. Run the application.
When you run the application, it will update the master page property for the
site.