Crain's Cleveland Business articles from January 2008

Crain's Cleveland Business archives from January 2008

Retail.(Special Report)
January 7, 2008... Byline: JOHN BOOTH The fallout from 2007's economic gut punches to consumers - the drop-off in credit, the subprime mortgage rate fiasco, the steep rise in energy costs - already has pockmarked next year's retail landscape with question...

Nat City ills revive talk of Key combo; Merger would cost region tons of jobs but would secure future for a locally based bank.
January 7, 2008... Byline: JAY MILLER It might be time for Northeast Ohio to start bracing itself for a local bank named Key National Corp. Or maybe National Key Corp. Those possibilities or another hybrid name could emerge from a merger between longtime...

Ohio aims to overhaul work force training plan.
January 7, 2008... Byline: JAY MILLER 2008 may be the year Ohio gets serious about work force development. "Work force has emerged as a galvanizing issue,'' Lt. Gov. Lee Fisher told Crain's Cleveland Business after an economic development strategy...

Late News.
January 7, 2008... DYNAMIC REAL ESTATE DUO BUYS STERIS PLANT A former Steris Corp. manufacturing complex in Erie, Pa., is the latest addition to the growing property portfolio of Los Angeles-based Industrial Realty Group and Beachwood broker-investor Chris...

2008 7-sector forecast; What's in store this year?(Brief article)
January 7, 2008... The new year traditionally brings with it renewed hope. Unfortunately, in terms of the economy, a fresh start is not always as easy as a turn of the calendar. Still reeling from the subprime lending mess, continued foreign competition and...

Real Estate.(Special Report)
January 7, 2008... Byline: STAN BULLARD Real estate, in the region and the nation, enters 2008 after reaching a turning point in 2007. A new generation of Northeast Ohioans and realty practitioners will continue learning firsthand this year that even...

Risk management firm sees future in Fairlawn.(News)
January 7, 2008... Byline: STAN BULLARD Houston-based Risk International plans to put down long-term roots for its Northeast Ohio office with a new office building in Fairlawn. The risk management and insurance provider has leased, with an option to buy,...

Health Care.(Special Report)
January 7, 2008... Byline: SHANNON MORTLAND John Sideras knows all too well what Northeast Ohio's struggling economy will bring to area hospitals in 2008. As the president and CEO of MetroHealth Medical Center, he has seen the hospital's amount of...

Duo's Landerbrook deal has dual purpose; ORG partners' haul includes three-story office building, three acres to build upon on East Side.(News)
January 7, 2008... Byline: STAN BULLARD With a recent $11.9 million purchase, ORG Real Property partners Edward Schwartz and Jonathan Berns accomplished two objectives: They not only added a trophy office building to their company's portfolio, but they also...

The Week in Quotes.(News)(Quotation)
January 7, 2008... "It was a lot of challenges, but who is not ready for challenges in today's world?'' - Israel Torres, graduate of an El Barrio customer service program and an employee of AmTrust Bank. Page 4 "It's just a matter of rethinking our...

Bankruptcies.
January 7, 2008... The following businesses recently have filed for protection from creditors in the U.S. Bankruptcy Courts in Akron or Cleveland. Chapter 11 is a reorganization plan that must be approved by the court. Chapter 7 is a total liquidation. Chapter 13...

Investment in training, education critical.(Special Report)
January 7, 2008... Byline: GUHAN VENKATU As the U.S. economy enters 2008, forecasters seem to be peering into a cloudy crystal ball. According to the Wall Street Journal, economic forecasters put GDP growth for the coming year at a relatively robust...

Transformation easing our reliance on manufacturing.(Special Report)
January 7, 2008... Byline: THOMAS WALTERMIRE Northeast Ohio's economy is growing. This seems surprising but it has grown 14 of the past 15 years, and adjusted for inflation, it actually is 30% larger than it was in 1992. In 2007, Team NEO launched the...

Accounting hires steady despite Sarbanes-Oxley adjustments.(Insight)
January 7, 2008... Byline: SHAWN A. TURNER A source of constant business for five years, public accounting work driven by the federal Sarbanes-Oxley Act has begun to soften, accountants around Northeast Ohio say. However, officials at the firms active in...

TAKING OWNERSHIP; With their subsidiaries' sales doubling over four years, the employee-owners of EBO Group are a happy bunch.(News)(EBO Group Inc.)
January 7, 2008... Byline: DAVID BENNETT Once an employee of EBO Group becomes an employee-owner, he or she gets a colored caricature of themselves nailed to an office wall, complete with exaggerated distinguishing features. A glance at the wall inside...

Tired refrain.(Opinion)(Viewpoint essay)
January 7, 2008... In his first year as governor, Ted Strickland proved he was no Bob Taft (thank goodness). He didn't shy away from challenging tasks, such as pushing for greater collaboration among the state's public colleges and universities, which...

Going Places.(People)
January 7, 2008... Job Changes Financial Service BEACON FINANCIAL PARTNERS: Marilyn Kadis to director of operations. BRUNER-COX LLP: David L. Groves to tax partner; Jeffrey S. Buckshaw and Lisa M. Hilling to general services managers. GREENLEAF...

On heels of three closings, Beachcliff to re-focus; Rocky River shopping center to target more women after bookstore, two others shutter.(News)
January 7, 2008... Byline: JOHN BOOTH A little more than a year after its relaunch as an open-air shopping center, Beachcliff Market Square in Rocky River is losing three tenants and is narrowing its demographic focus. The 9,000-square-foot Liberty Books...

The Big Issue.(Opinion)
January 7, 2008... What is the biggest hurdle facing Northeast Ohio in 2008? Joyce Hanlon Independence Employment and education. Those are the things that are hurting us right now. Jorge Lozada Cleveland You've got to start off with...

Bet Sam Ervin would like these questions.(Opinion)
January 7, 2008... Byline: Brian Tucker For the many journalists who recall the Watergate hearings that helped end the presidency of Richard Nixon, there are memories aplenty, from the "to the best of my recollection'' end-arounds of John Dean to the steely...

Banking.(Special Report)
January 7, 2008... Byline: SHAWN A. TURNER It's looking like a back-to- banking-basics year in 2008. After struggling through the fallout of the subprime and foreclosure mess in 2007, banks this year are likely to put more of a focus on managing credit...

Technology.(Special Report)
January 7, 2008... Byline: CHUCK SODER It is getting easier for young bioscience companies in Northeast Ohio to attract venture capital, but access to talent will remain an issue for that sector as well as the information technology sector into 2008,...

Nonprofit links job seekers, companies; El Barrio expands its offerings to include customer service help.(News)
January 7, 2008... Byline: SHANNON MORTLAND Israel Torres is the kind of employee many companies in Greater Cleveland are seeking. He's bilingual, willing to learn and ready to work in a professional environment. However, many companies just don't know...

Government Cooperation.(Special Report)
January 7, 2008... Byline: JAY MILLER As Northeast Ohio heads into 2008, it's more a fragmented collection of cities and towns than it is a cohesive economic region. But a growing number of leaders are embracing the notion that Northeast Ohio is a single...

New year promises a thrilling ride.(Special Report)
January 7, 2008... Byline: JACK KLEINHENZ The U.S. economy has done a remarkable job of carrying the weight of recent disorders in the housing and credit markets and punishing oil prices. The nation's good fortune, however, appears to have run out as we...

A fresh start.(News)
January 7, 2008... It's January, which means it's time to make a bunch of New Year's resolutions that you'll probably break by mid-February. Ohio has some less-than-stellar measurements in two areas - losing weight and quitting smoking - that are popular...

Manufacturing.(Special Report)
January 7, 2008... Byline: DAVID BENNETT Observers who follow manufacturing in Greater Cleveland say the business climate for local manufacturers in 2008 will depend on the industry's ability to traverse such slippery slopes as the country's struggling...

Correction.(Correction notice)
January 7, 2008... A photograph on Page 3 of the Dec. 24 issue misidentified the aircraft behind S. Michael Scheeringa, CEO of Flight Options LLC. The aircraft was a large-cabin Embraer Legacy.

10 Deals... ...That mattered in 2007.(The Year In Review)
January 7, 2008... Giant sucking sound Techtronic Industries Co., the Hong Kong company that makes Dirt Devil vacuum cleaners, bought Whirlpool Corp.'s Hoover floor care business for $107 million. Techtronic is combining Hoover with its existing Dirt Devil...

10 People... ...Who mattered in 2007.(The Year In Review)(Industrial Realty Group LLC)(Stark Enterprises )
January 7, 2008... Marc Dann The New York Times and The Wall Street Journal took note of Ohio's activist attorney general, who, among other things, became the new scourge of Wall Street as he pushed lawsuits related to the country's subprime mortgage...

10 Stories... ...That mattered in 2007.(The Year In Review)(Cleveland-Cuyahoga County Port Authority )
January 7, 2008... Keep it up Northeast Ohio bioscience companies attracted $213 million in venture capital during the first three quarters of 2007, an amount that already topped the region's previous record of $171 million in 2005. Can you spare a...

...And 5 to watch in 2008.(The Year In Review)
January 7, 2008... Joe Cimperman The Cleveland city councilman figures to give Dennis Kucinich the toughest fight the Democratic presidential candidate has had since entering Congress in 1996. (Dennis still is a member of Congress, isn't he? It's hard to...

Grand openings.(Small Business)(Directory)
January 14, 2008... American Hot Rod Racer 26300 Cedar Road, Beachwood Place Beachwood 44122 www.americanhotrodracer.com American Hot Rod Racer, founded by Rick Maicki and Jack Prause, is an experience-based retail store with a full selection of...

Got a good idea? Throw it out there; Ravenna web-based distributor carves niche out of founder's peculiar brainstorm.(News)(ThrowThings.com LLC)
January 14, 2008... Byline: CHUCK SODER Marc Resnik's business plan at first made him laugh. Now it makes him money. His web-based distribution company, ThrowThings.com LLC, surpassed $1 million in revenue last year even though it sells what seems like a...

Magnet, NorTech hoping to incite innovation with workshops, peer meetings.(News)
January 14, 2008... Byline: CHUCK SODER A new program to promote innovation among Northeast Ohio manufacturers won't be your standard lecture series, according to officials from regional economic development agencies Magnet and NorTech. The two...

Two bids likely for Ameritrust complex.(News)(Cuyahoga County commissioners )
January 14, 2008... Byline: JAY MILLER Bids are scheduled to be opened this Tuesday, Jan. 15, for the Ameritrust complex that Cuyahoga County commissioners are seeking to move off the county books. But county officials shouldn't expect too big of a crowd....

North Point sale likely imminent; Office tenant-hungry Boston REIT to purchase two-building complex in latest downtown deal.
January 14, 2008... Byline: STAN BULLARD HRPT Properties Trust, a Boston-based real estate investment trust with a big appetite for office buildings, is preparing to buy the 1 million-square-foot North Point office complex in downtown Cleveland. Sources...

Burke airport service biz changes hands; Houston company purchases Million Air, promises terminal, hangar space upgrades.(News)
January 14, 2008... Byline: JAY MILLER Million Air, the fueling and flight services operation at Burke Lakefront Airport, has been sold to an upstart company that promises to link aircraft owners who use Burke to an international network of what pilots call...

Late News.
January 14, 2008... PROGRESSIVE TRIES FOR HOME-FIELD ADVANTAGE * Progressive Corp. will pay the Cleveland Indians roughly $57.6 million over the next 16 years in a deal that rechristens the team's home stadium Progressive Field. Team officials and executives...

ON THE DEAN'S LIST ... ... is balancing CWRU medical school's budget, solving West Quad riddle.
January 14, 2008... Byline: SHANNON MORTLAND There are two truths at the Case Western Reserve University School of Medicine: There is a budget deficit and the show must go on. Dr. Pam Davis, dean of the medical school, said she is working to address the...

C.Trac compiles consumer profiles to tailor marketing.(News)
January 14, 2008... Byline: JOHN BOOTH People who love to go to health food stores or cooking trade shows would seem obvious marketing targets for Vita-Mix Corp., a company in Olmsted Falls that sells high-end blenders and juicers. But home-improvement...

Reporters' Notebook; Behind the news with Crain's writers.(The Insider)
January 14, 2008... Your ad here * Franchising has moved way beyond burgers: Coffee shops are on the entrepreneurial menu, as are pet care centers, health spas and automotive window tinting outlets. This year, two Northeast Ohio ad agency executives hope to...

Value of owner's personal mark can affect taxes in business sale.(Small Business)
January 14, 2008... Byline: Peter DeMarco Virtually every small business owner gives at least passing thought to how he or she will one day retire and exit the business, perhaps by handing down to a future generation or by selling to a key senior manager or...

Tiremaker looks to extend its brand; GPS product to bear Goodyear name.(News)
January 14, 2008... Byline: DAVID BENNETT There is no doubt that Goodyear Tire & Rubber Co. gets a lot of traction out of its brand name and Wingfoot trademark. During any given weekend, there's a shot of one of the company's iconic blimps circling a...

Primary concern: Focus on solutions.(Opinion)(Viewpoint essay)
January 14, 2008... Byline: Brian Tucker So here we are, in the presidential primary season at last. I say "at last'' because it was getting pretty boring (and even more tiring) to hear these candidates strut about, trying to raise dollars and awareness, all...

Upcoming tech mission reaffirms Israelis' desire to enter Ohio's blooming market.(Small Business)
January 14, 2008... Byline: Marsha Powers In March, Northeast Ohio will host a high-profile financial information technology business mission, setting the stage for more global partnerships. Some of Israel's most advanced IT companies that are engaged in...

SHORT TAKES.(Briefs)(Roberts Law Firm)(Enterprise Commercial Trucks)(Brief article)
January 14, 2008... * THREE-ALARM MOVE: After nearly 15 years in downtown Cleveland, The Roberts Law Firm has moved to 7987 Columbia Road to occupy the newly restored Olmsted Falls firehouse (left). "I could not resist the opportunity to serve my clients from this...

Absenteeism takes toll on small staffs; Proposed legislation would mandate paid sick time.(Small Business)
January 14, 2008... Byline: KIMBERLY BONVISSUTO In the middle of November, Ann Reichle found herself doing just about every job in her pizzeria and catering business. She had no choice after the majority of her employees called off for everything from...

BioEnterprise to house drug developer.(News)
January 14, 2008... Byline: Chuck Soder Drug development company Aeromics LLC is scheduled to move to Cleveland from Yale University during the next six to eight weeks, said company vice president Marc Pelletier. The company, which will be housed in the...

Former Bayer plant ready for tech tenants to set up shop.(News)
January 14, 2008... Byline: CHUCK SODER There's finally a reason for someone to take down the Bayer Diagnostics sign in front of the pharmaceutical company's former plant in Oberlin. Building owner Kevin Flanigan has started recruiting young technology...

Going Places.(People)
January 14, 2008... Job Changes Architecture DORSKY HODGSON PARRISH YUE: Fred Bejcek to principal, integrated services; Jeffrey Banner to associate; William Kotich to senior project architect; Tom Stecky to project manager. Construction THE...

SAFE AND SOUND; GrafTech lends carbon foam technology to creation of mining rescue chamber, plans to introduce product into aerospace, composite tooling markets.(Insight)
January 14, 2008... Byline: DAVID BENNETT Officials at GrafTech International Ltd. in Parma believe their company can help underground miners survive the kind of accident that resulted in nine deaths last summer in Utah. The maker of graphite and carbon...

Higher education.(News)
January 14, 2008... Northeast Ohio has an array of options and programs for pursuing an MBA. Check out next week's special section for a look at enrollment trends, as well as some of the area's offerings and programs.

The Week in Quotes.(News)(Quotation)
January 14, 2008... "We still do not have enough space for growing companies that want and need to be near University Circle institutions. We still probably have a demand for another 150,000 to 250,000 square feet in and around University Circle.'' - Baiju...

Climb in retail vacancy not as steep as once feared.
January 14, 2008... Byline: STAN BULLARD Shopping center vacancy in Northeast Ohio climbed to 9.8% at the beginning of this year from 9.4% last year, but Keith Hamulak, a CB Richard Ellis sales professional, considers that a pleasant surprise. "I thought...

The Week: January 7 - 13.(The Insider)
January 14, 2008... The big story: After four years as president and CEO, John Sideras is out as head of The MetroHealth System. MetroHealth said Mr. Sideras stepped down from the position, and that its board of trustees has created the Office of the President,...

LOOKING TO GET OUT.(News)
January 14, 2008... Ohio, which lost 3,841 households in 2007 while gaining just 2,345, had the country's highest percentage of outbound traffic and the fifth-highest number of outbound moves, according to Atlas Van Lines' 2007 Migration Patterns study. This...

What's New.(The Insider)
January 14, 2008... COMPANY: Energy Focus Inc., Solon PRODUCTS: EFO-LED Dock Light, Armada EFO-LED Globe and the Light Rail Energy Focus, a maker of energy-efficient lighting systems for both the general commercial and the pool and spa lighting markets,...

It's a start.(Opinion)(Viewpoint essay)
January 14, 2008... Our expectations weren't high for the work of the Northeast Ohio Universities Collaboration and Innovation Study Commission, a group whose creation was rushed through the General Assembly in the waning days of 2006. We nonetheless intend it as...

In pitching a bank, pay close attention to details.(Small Business)
January 14, 2008... Byline: Debora Callen Convincing a bank to become your partner in a startup or an expansion enterprise can be challenging. Banks are known for their reluctance to finance startup ventures. Even an established, profitable company can face...

DOUBLE DUTY; Some entrepreneurial teachers add the operation of a full-time business to their daily lesson plans.(Small Business)
January 14, 2008... Byline: SHARON SCHNALL It's not unusual for a school teacher to hold an additional part-time job. What is out of the ordinary, however, is for a teacher to own a full-time business, especially a retail one. But a few Northeast Ohio...

Corrections.(Correction)(Correction notice)
January 14, 2008... * A Jan. 7, Page 3 story about accounting firms' hiring plans misspelled the names of Randall S. Myeroff, managing partner of Cohen & Co. in Cleveland, and John S. MacIntosh, managing partner in Cleveland for KPMG LLP. * In the list of...

The Big Issue.(Opinion)
January 14, 2008... Are you watching less television because of the ongoing strike by TV writers? Mark Lammon Cleveland I haven't watched any TV in eight weeks.... We actually got rid of our cable because of the strike. We just go on the Internet...

Give it up.(Opinion)(Brief article)
January 21, 2008... While we respect the right of U.S. Rep. Dennis Kucinich to give voice to his views as a Democratic presidential candidate, we also believe the people of the congressional district he represents deserve more for their tax dollars than what he's...

MILESTONE.(The Insider)(Cleveland Wine School)(Company overview)
January 21, 2008... COMPANY: Cleveland Wine School, Beachwood THE OCCASION: The school's fifth anniversary Marianne Frantz opened the Cleveland Wine School in 2002, offering tastings and courses on wine for both amateur enthusiasts and wine and restaurant...

Ohio facing huge deficit for transportation system.
January 21, 2008... Byline: JAY MILLER The Ohio Department of Transportation projects the state will be $3.5 billion short of the money it needs to meet the maintenance and new construction commitments it has made for the state's transportation system between...

Getting back to reality; MBA programs pushing pupils out of the classroom and into collaborations with some local companies.(Higher Education)
January 21, 2008... Byline: JENNIFER McKEVITT Hear that crash? It's the sound of ivory towers falling. Area MBA and executive MBA programs don't just restrict lessons to the theoretical. Instead, most are actively reaching out to area businesses - and...

Students double up on degrees to get an edge in the work force.(Higher Education)
January 21, 2008... Byline: BRAD DICKEN Why settle for one graduate degree when you can have two? A handful of students at business schools in the region and nation are doing exactly that, coupling their MBA studies with another professional field and...

Lead new narrative with region's positives.(Opinion)(Viewpoint essay)
January 21, 2008... Byline: CRAIG T. FOLLINS July 13, 2007, was a very fortuitous day for me. It was the end of a week that I would have to choose between two great senior executive positions in higher education: vice president of work force development...

Data services biz plots Tyler Village move.(News)(SparkBase LLC)(Brief article)
January 21, 2008... Byline: CHUCK SODER Data services company SparkBase LLC of Solon is planning to move its headquarters to Tyler Village in Cleveland. The company, which processes transactions for businesses that sell gift and loyalty cards to...

FAMED FIX-UP; Cleveland company restoring stained glass for California ranch of `Star Wars' George Lucas.
January 21, 2008... Byline: JOHN BOOTH On a blackboard at Whitney Stained Glass studio, one note on the project list stands out from the rest: "G. Lucas.'' Yes, that G. Lucas - George Lucas, creator of "Star Wars'' and father of Indiana Jones. And...

The Big Issue.(Opinion)
January 21, 2008... Regardless of your political affiliation, have you settled on a presidential candidate yet? David Nycz Parma Pretty much - Hillary. She's a lot tougher than a lot of people give her credit for. Charles Green Cleveland...

The Week in Quotes.(News)(Quotation)
January 21, 2008... "It's totally a learning experience. It's very difficult to match glass. There's always a different studio's (artistic) fingerprint on it.'' - Pete Billington, owner, Whitney Stained Glass. Page One "We don't view ourselves as radio...

The Week: January 14 - 20.(The Insider)(The International Exposition Center)(Diebold Inc negotiates with Securities and Exchange Commission )
January 21, 2008... The big story: K&D Group of Willoughby plans to remake the southeast corner of Euclid Avenue and East Ninth Street into a $200 million, mixed-use complex with a boutique hotel, office and retail space and at least 543 residential loft units....

In the clouds.(News)
January 21, 2008... For some local pilots, the fun is all in getting there. From the freedom of the skies to a more convenient trip, Northeast Ohio's hobbyist aviators have plenty of reasons for taking to the air. Read more about these adventurers in next week's...

ALL IN THE TIMING; No matter if it's a student who immediately goes for an MBA or one who waits to build experience, both add to diversity in the classroom.(Higher Education)
January 21, 2008... Byline: KATHY AMES CARR Timing can be everything. For students seeking master's degrees in business administration, timing can mean the difference between enhancing an already established career and sweetening a resume lacking in...

Plan ahead.(Opinion)(Bob Taft )(Viewpoint essay)
January 21, 2008... It was 2002, and Bob Taft was running for his second term as governor the last time the U.S. economy went sour. Any prudent individual could see the state needed to tighten its belt if it wasn't to run a budget deficit as tax revenues became...

Reporters' Notebook; Behind the news with Crain's writers.(The Insider)
January 21, 2008... Prescriptions differ for easing nursing load * Groups in Ohio and California are at odds over the route Ohio hospitals should take to ease the workload for nurses who work in those hospitals. The California Nurses Association's...

Fight for dollars to be fierce with tight NIH budget; Agency stressing infectious disease, global health research; institutions adjusting focus.(News)
January 21, 2008... Byline: SHANNON MORTLAND The budget for the National Institutes of Health is barely budging, which means local research institutions that count on NIH money to support their research activities will find competition nationwide for those...

MASSIVE MAKEOVER; Renamed Tyler Village, a former East Side manufacturing complex is seeing new life with a multimillion-dollar renovation.(Insight)(APG Office Furnishings Inc.)
January 21, 2008... Byline: STAN BULLARD sbullard@crain.com APG Office Furnishings Inc. made a surprising choice to replace its former Huron Road storefront location in Cleveland's Theater District. The Cincinnati-based supplier of cubicles and work stations...

Ancora ups interest in Mace parent.(News)
January 21, 2008... Byline: SHAWN A. TURNER Richard A. Barone is chairman of investment firm Ancora Advisors LLC in Beachwood, but he might be crafting a new title for himself: activist investor. In a Securities and Exchange Commission filing last Monday,...

Former interim prez is right Rx for once-ailing St. John West Shore.(News)(St. John West Shore Hospital)
January 21, 2008... Byline: SHANNON MORTLAND In Cliff Coker's first few months as interim president of St. John West Shore Hospital, nobody even cared to know his name. All they wanted to know, he said, was when he planned to leave the Westlake hospital....

Going Places.(People)
January 21, 2008... Job Changes Architecture BIALOSKY + PARTNERS ARCHITECTS: William Laditka to principal; Gary Pete to senior architect/director of quality assurance; Brandon Garrett and Paul Taylor to senior associates; John Guzik, David Perlberg and...

Commercial site sales hit $1.7 billion high; But credit woes likely to damp investor appetite for income-producing properties going forward.
January 21, 2008... Byline: STAN BULLARD In a fitting finale for a year when three skyscrapers in downtown Cleveland and a cluster of suburban office buildings changed hands, the dollar volume of income-producing commercial properties sold in 2007 in...