Crain's Cleveland Business articles from June 2009

Crain's Cleveland Business archives from June 2009

Choice Bits.(NEWS)
June 1, 2009... Even slower times are ahead on factory floors U.S. manufacturing output this year is projected to fall by 12%, a decline even sharper than the 8% predicted just three months ago, according to a May 28 Wall Street Journal story that quoted...

Balancing act; Banks face challenge of maintaining lending activity while sustaining adequate capital levels amid government scrutiny.(NEWS)
June 1, 2009... Byline: ARIELLE KASS It's as if the banks are on a see-saw told to lend, then save, then lend again. In the fall, the economy just needed a lending kick, regulators said. So billions of dollars in bailout money was distributed, meant...

Lodi Outlets' renovations full steam ahead.(Lodi Station)
June 1, 2009... Byline: STAN BULLARD Operators of Lodi Station Outlets, a 60-store retail outlet center at the Interstate 71 interchange with state Route 83 in southern Medina County, hope efforts such as the addition of two custom-made, narrow-gauge...

Counties' population spread reflects wealth of available assets, services.
June 1, 2009... Byline: JOEL HAMMOND In terms of population, call the communities along Interstate 71 in southern Cuyahoga County and northern Medina County even-steven. Sure, there have been no dramatic rises like those in Avon and Avon Lake, where...

Smart money.(The Fund for Our Economic Future)
June 1, 2009... Grant money has become an extremely precious commodity at most foundations in Northeast Ohio because of the beating their endowments have taken courtesy of the fickle financial markets. The need to extract as much benefit as possible from those...

Equity research company Longbow aims high; Independence outfit adds New York office, earns recognition for analysis.(Longbow Research )
June 1, 2009... Byline: ARIELLE KASS In the Battle of Agincourt in 1415, the British army had half as many soldiers as the French troops they were attacking. Still, the battle in the Hundred Years' War was a sound British victory. David MacGregor...

Reporters' Notebook.(NEWS)(Diary entry)
June 1, 2009... Better safe than sorry Those orange signs cropping up in downtown Cleveland that say, "Put Your Junk in Your Trunk, are part of an effort to reduce some of the most annoying of petty crimes. The signs are going up courtesy of the...

FOR THE RECORD.(Vantage Financial)(Brief article)
June 1, 2009... VANTAGE FINANCIAL ACQUIRES PA. FIRM Vantage Financial Group in Independence has bought The Neely Group of Grove City, Pa., a private client investment management and financial consulting firm with five employees. Jim Huff, marketing manager...

Venture rewards student public service projects.(True Hero)
June 1, 2009... Byline: SCOTT SUTTELL Heroes are found in many places in the front of the classroom or the back of the bus, in the halls of medicine or perhaps just across the hall, in a parent's room. Mike Merriman was particularly taken by the...

Local auto suppliers upbeat as Detroit 3's prospects trend up.(NEWS)
June 8, 2009... Byline: DAN SHINGLER Detroit 1, Cleveland 1. That's not the score of an Indians/Tigers game. It's the correlation between the success of the U.S. auto industry and the prospects for Northeast Ohio's many automotive suppliers. The...

GOING PLACES.(NEWS)
June 8, 2009... JOB CHANGES EDUCATION CLOVERLEAF LOCAL SCHOOLS: Michael J. Maloney Jr. to community information coordinator. CASE WESTERN RESERVE UNIVERSITY: David Fleshler to associate provost for international affairs. HEALTH CARE ...

NEED A LITTLE HELP; With corporate budgets under siege, the college internship landscape has changed: Fewer are available, and many are unpaid.(NEWS)
June 8, 2009... Byline: KATHY AMES CARR Northeast Ohio organizations still are offering internships this year, yet overall fewer positions are available as the economy squeezes budgets and forces companies to scrutinize each dollar they spend. Some...

LOYALTY CARDS SCORE POINTS; Northeast Ohio retailers tout rewards programs to entice deal-seeking customers and bolster business.(NEWS)
June 8, 2009... Byline: CHUCK SODER The number of gift card purchases buzzing through the computer servers at SparkBase has decreased with the recession, but not by as much as loyalty card transactions have increased. What at first might seem...

Collection industry fights stigma, lagging payments; Agencies up against rough reputation, economy.(JP Recovery Services Inc)
June 8, 2009... Byline: JOEL HAMMOND John Murray gets some strange looks at parties. It's not that he has four ears or five eyes; it's his profession the collections industry that draws the sideways glances. Mr. Murray, co-owner and vice president...

GRAND OPENINGS.(NEWS)(Directory)
June 8, 2009... THE ECLECTIC MIXX 15612 Detroit Road Lakewood 44107 The Eclectic Mixx is a new gallery that offers shoppers the opportunity to select from an assorted combination of home furnishings, ladies accessories, collectibles, glassware,...

A niche for that newsy nose; As traditional media falter, local entrepreneurs give it a shot.(NEWS)
June 8, 2009... Byline: KATHY AMES CARR Changing consumer media habits coupled with a dismal economic climate have spelled disaster for many newspapers and magazines across the country. Yet some entrepreneurs in Northeast Ohio are ignoring the dark...

SHORT TAKES.(Ken Stewart's Grille )
June 8, 2009... NOW SERVING: Ken Stewart, owner of Ken Stewart's Grille in Akron and Ken Stewart's Lodge in Bath, and his partner, Parry Girves, have opened a new restaurant and lounge, Tre Belle, at 1911 N. Cleveland Massillon Road, Bath. Vincent Zimbardi is...

A HEAVY BURDEN; Often the first to sacrifice when times get tough, small business owners are being hit much harder as the recession continues.(Cumberland Industries)
June 8, 2009... Byline: CHUCK SODER Given the personal financial sacrifices Eldon Kabb has been making lately, one might not realize his steel distribution company had a strong 2008. The owner and president of Cumberland Industries in February took a...

Six winners, 22 finalists honored at Westlake event.(Brief article)
June 15, 2009... From the volunteer who makes a patient's day a little easier to the physician who develops the next great medical intervention, those working in Northeast Ohio's health care community perform daily miracles both big and small that often go...

County limited in awarding contracts.(NEWS)
June 15, 2009... Given the horrific state of Cuyahoga County government (federal probes everywhere you look, a sheriff chased from his job, house values falling like rocks), it's easy to understand the frustration that County Commissioner Tim Hagan felt last...

Change up.(NEWS)
June 15, 2009... Reform of the structure of Cuyahoga County's government is at least 75 years overdue. Let's hope the civic leaders who are behind the latest attempt to change its structure can gather the 45,000 petition signatures they need to get their reform...

Choice Bits.(NEWS)
June 15, 2009... Progressive's new ad has shades of gay * With a name like Progressive, it shouldn't be a great surprise if the auto insurer in Mayfield Village crosses a line few companies even approach in their advertising: featuring a gay couple. ...

Going Places.(NEWS)
June 15, 2009... JOB CHANGES EDUCATION HIRAM COLLEGE: Christopher T. Ryan to associate professor of art. THE NORTHEASTERN OHIO UNIVERSITIES COLLEGES OF MEDICINE AND PHARMACY: Lon C. Herman to director, Best Center, Department of Psychiatry. ...

HERE'S THE DEAL.(NEWS)(Brief article)
June 15, 2009... There are a number of incentives available at local hotels and major chains, generally for meetings or conferences booked in 2009 for 2009 or, in some cases 2010. For example, discounts of 15% to 25% are available on: * Banquet menu...

Economy forcing meeting planners to think fast.(NEWS)
June 15, 2009... Byline: Amy Ann Stoessel Meeting planners and venues are proving they can be quick on their feet as tight corporate budgets in some cases are translating into shorter lead times for business events. "Since many of our company-sponsored...

PLANNING AHEAD; Nonprofits compensate for economic challenges by minimizing event costs, developing creative fundraising strategies.(Cleveland Zoological Society )
June 15, 2009... Byline: SHANNON MORTLAND The Cleveland Zoological Society expected to raise a little less money at one of its major fundraising events this year, but the nonprofit group didn't allow its feathers to get ruffled. It instead decreased...

Med mart plan lacks lodging element; Some think adjoining hotel should be part of agenda.(NEWS)
June 15, 2009... Byline: STAN BULLARD A big piece is missing from the plan to make a success of the new convention center and medical mart in downtown Cleveland, according to some experts: an attached convention center hotel of as many as 800 rooms with a...

Prepping for the unpredictable; Organizers try to account for challenges associated with open events.(NEWS)
June 15, 2009... Byline: JOEL HAMMOND There's little that rattles veteran event planners, who have seen every broken light bulb, microphone and heavy-duty oven there is to see. Open events, though such as recent job fairs or other functions that...

Hotels tout inviting discounts to meeting planners; Operators, looking to offset lower occupancy, offer deals to bolster conference bookings.(NEWS)(Conference news)
June 15, 2009... Byline: JAY MILLER Like many of the Aloha State's starving hotel operators, Marriott Resorts Hawaii starts by offering business meeting planners a 10% rebate for booking a retreat on the islands this year. Then it and its competitors start...

Milestone.(Medical Mutual of Ohio)(Brief article)
June 15, 2009... COMPANY: Medical Mutual of Ohio, Cleveland THE OCCASION: Its 75th anniversary The health insurer was founded in 1934 another year with a bleak economy. Current president and CEO Rick Chiricosta says that while 2009 isn't as dire...

Crain's On the Web.(NEWS)(Brief article)
June 15, 2009... Sure, these are hard times that demand great focus on work. But even now maybe especially now you're more than just your job. And you're fortunate to live in Northeast Ohio, which is filled with cultural riches. Our new weekly e-mail,...

PAIN AT THE PARK; The Indians aren't quite as big a hit as they were last year, while some minor-league teams are seeing attendance boosts. What gives?(NEWS)
June 15, 2009... Byline: JOEL HAMMOND What's got the Indians' attendance down? The economy? The team's slow start? The well-populated Ohio baseball market, now including the Frontier League's Lake Erie Crushers in Avon? It all depends on who you're...

Owner of ITfirm MK2 tieing futureto software; Deal for ProSource boosts customizing capabilities.(NEWS)
June 15, 2009... Byline: CHUCK SODER Donald Kasper has big plans for what just became a bigger operation. The owner of MK2 Technologies LLC of Cleveland has acquired a significant portion, though not a majority, of ProSource Solutions in an effort to...

Raising cash still tough, private equity funds say; Despite slight improvement, uncertainty causes ongoing hesitance among investors.(NEWS)
June 15, 2009... Byline: ARIELLE KASS Private equity funds in Northeast Ohio both those that are raising money and those that are not said there's no doubt now is not the best time to ask potential investors for commitments. But because the economy...

The Week June 8-14.
June 15, 2009... The big story: The Ohio Supreme Court in a 5-2 decision backed a state law passed in 2006 that said cities can't require their employees to live in the community where they work. Political leaders in large cities, including Cleveland and Akron,...

Tri-C combs operations to spare $8M; College restructures budget amid rising enrollment, heightened financial pressures.(Cuyahoga Community College)
June 15, 2009... Byline: SHANNON MORTLAND Faced with sharply rising enrollment and stagnant tax revenues, Cuyahoga Community College is casting a more critical eye on the way the college is run, a move that has resulted in Tri-C saving, recovering or...

OUTPOURING OF OUTREACH; Volunteers, from young professionals to laid-off individuals and retirees, donating more time and skills to aid nonprofits.(NEWS)
June 15, 2009... Byline: SHANNON MORTLAND Tom Galvin just couldn't say no. The studio director with Cleveland architecture firm Vocon Inc. initially worked for the owners of the Leader Building downtown designing a new home for the Cleveland Rape...

Dots sings to new tune with its radio station.(NEWS)
June 15, 2009... Come for the clothes, stay for the music. That could be the theme of women's clothing retailer Dots LLC, which has launched an online radio station on its web site. The Glenwillow-based chain of more than 400 stores said Dots Web Radio...

Reporters Notebook.(NEWS)(Diary entry)
June 15, 2009... We like the suggestion at the end of this item * A web site created by a Solon company hopes to be your primary source for local news, even after you move to Wyoming. Shoutback Concepts LLC on June 1 launched Shoutback.com, a site that...

Cuyahoga Falls General becomes Summa Western Reserve.(Brief article)
June 15, 2009... Byline: SHANNON MORTLAND Cuyahoga Falls General Hospital on June 24 will become a for-profit hospital under the name Summa Western Reserve Hospital. Ohio Attorney General Richard Cordray gave approval for the change to Summa Health...

Tax abatement changes seen as home run for Cleveland condo market.(NEWS)
June 15, 2009... Byline: JAY MILLER Changes in state and local tax abatement policy are expected to make condominium ownership in Cleveland more affordable for urban dwellers who'd rather own than rent, while easing the way for landlords of properties...

Akron residents right to rebuff recall.(NEWS)
June 29, 2009... Byline: Brian Tucker With all the talk of corruption swirling around Cuyahoga County's Democrats, an interesting contrast was provided last week when Akron's voters overwhelmingly rejected an attempted recall of their mayor. Don...

CHOICE BITS.(NEWS)
June 29, 2009... In the recession, they eat their own Cleveland-area businessman Ross Farro was among the restaurateurs featured in a June 24 New York Times story about how casual dining chains are eating each other's lunches in a price war. "The...

CLARIFICATION.(NEWS)(Correction notice)
June 29, 2009... A June 22, Page 4 story on a new electric rate program that the Council of Smaller Enterprises has arranged for its members with FirstEnergy Corp. contained misleading information. Because of new power prices set at auction in May by the Public...

OPINION.(NEWS)
June 29, 2009... The cloud By his very presence on the Board of Cuyahoga County Commissioners, Jimmy Dimora is casting a huge cloud over the sanctity of the operations of county government. He should resign from his position, effective immediately. ...

GOING PLACES.(NEWS)
June 29, 2009... JOB CHANGES FINANCIAL SERVICE ERNST & YOUNG: Anthony J. Berni, Craig M. Frabotta and Joshua D. Jenkins to partners; William G. Nolan to executive director. STIFEL & NICOLAUS: Scot Sinkler to senior vice president, investments. ...

BARBARA WEST.(NEWS)
June 29, 2009... Byline: Shannon Mortland Administrative director of emergency medicine, MetroHealth Medical Center How life has changed: Ms. West's previous supervisory duties were moved to another department. Now she manages Life Flight. Barbara...

A NEW REALITY; There are some signs of hope amid 2009's darkness.(NEWS)
June 29, 2009... Byline: JOHN BOOTH Across the region, production is down, unemployment is up, wage and salary freezes are commonplace and uncertainty permeates Northeast Ohio business and industry. And yet two broadly dynamic quarters into 2009, there...

PAT MODICA.(NEWS)
June 29, 2009... Byline: Stan Bullard Real estate agent, Howard Hanna How life has changed: Existing homes are the main movers, with first-time buyers drawn to the new tax credit. In her 29 years as a residential real estate agent, Pat Modica has...

TOUGH CLIMATE FOR NURSERIES; Bitter economy, colder spring weather prompt some garden centers to close up shop.(NEWS)
June 29, 2009... Byline: STAN BULLARD Sunnybrook Farms & Nursery in Chesterland survived the Great Depression, wars, a change in ownership and 81 springs. But it, along with some other retail garden centers and nurseries, stands to succumb to the current...

Crain's nabs 15 Press Club awards.(NEWS)
June 29, 2009... Crain's Cleveland Business has been honored with 15 awards including best business publication in Ohio in the annual Ohio Excellence in Journalism competition conducted by the Press Club of Cleveland. Crain's received 10 first-place and...

SPENDING THE STIMULUS; Three big Northeast Ohio companies are expecting hefty windfalls when the government's allocation kicks into high gear.(NEWS)
June 29, 2009... Byline: DAN SHINGLER When the federal government spends $787 billion, a company only needs to grab a fraction of that money to be up to its ledger in gravy and some of Northeast Ohio's industrial giants are planning to spend the next...

Swagelok boss: Lean operations not for us; Solon manufacturer bucks layoff, inventory norms.(NEWS)
June 29, 2009... Byline: DAN SHINGLER To heck with lean manufacturing. Be fat and happy you can keep your valuable employees handy for when things turn around. That was, in part, the message delivered at last week's Wire-Net annual meeting by Swagelok...

THE WEEK; JUNE 22 - 29.(NEWS)
June 29, 2009... The big story: Cuyahoga County Commissioner Jimmy Dimora spoke out last Thursday in his defense, nearly a year after his home and office were raided by federal agents and two weeks after four men were indicted on federal bribery charges in an...

WHAT IS A SID?(NEWS)
June 29, 2009... Three Cleveland neighborhoods and the city of Lakewood are considering implementing special improvent districts, like the Downtown Cleveland Alliance's "Clean & Safe initiative, which, among other things: cleans streets; greets...