Crain's Cleveland Business articles from October 2008

Crain's Cleveland Business archives from October 2008

Software developer adds three to team.
October 6, 2008... Information technology company Thinsolutions of Lakewood has acquired Link Solutions, a custom software developer in the same city. All three of Link Solutions' employees moved into Thinsolutions' office on Riverside Drive last week, said...

STUFF.
October 6, 2008... Despite turmoil, Parker still on track Borrowing, acquisitions remain options, but dangers lurk The banking system is going through convulsions that are making loans hard to come by, but it's mostly business as usual at Parker Hannifin...

Manufacturing target of Cleveland's Crawford Group files for Chapter 11; Pennsylvania injection molder suffers from early '08 loss of Procter & Gamble work.
October 6, 2008... Byline: MICHAEL LAUZON Erie Plastics Corp. of Pennsylvania, which the Crawford Group of Cleveland wants to buy, plans to reorganize under U.S. Bankruptcy Court protection while creditors work to finalize a sale. The Corry, Pa.,...

Down economy weighs heavily on manufacturers; In response, local firms lower earnings forecast, delay expansion, hiring plans.
October 6, 2008... Byline: Dan Shingler The credit crunch and the attendant damage to the economy are starting to inflict a noticeable toll on Northeast Ohio manufacturers. Large, publicly traded manufacturers based in Greater Cleveland are reacting to...

No dice.
October 6, 2008... Of all the ballot initiatives put before voters over the last two decades to bring casino gambling to Ohio, the latest measure may be the worst of all. It's bad in so many ways that we can say without hesitation that Ohio voters should give a...

STRIKINGLY SIMILAR; Three men alive during the Depression have faith in the current economy, yet see familiar trends in today's troubles.
October 6, 2008... Byline: DAN SHINGLER To most people, the Great Depression is a large but distant specter from the lives of their parents or grandparents. But to people in their 80s or 90s, it is an event that shaped their lives and one they hope the...

CHOICE BITS.
October 6, 2008... With these two, travel plans not up in the air * The two most prominent airlines at Cleveland Hopkins International Airport Continental and Southwest earned the top marks in a Sept. 30 Forbes.com ranking of the best domestic airlines. ...

WHAT'S NEW.
October 6, 2008... COMPANY: Step2 Co., Streetsboro PRODUCT: '50s Diner Americans love a diner. Why not get kids in the habit early? Step2 says with this product, children ages 2 years and up can step back in time with a classic retro-style diner....

THEWEEK; SEPTEMBER 29-OCTOBER 5.
October 6, 2008... The big story: Some colleges and nonprofits in Ohio are trying to figure out how the termination and liquidation of a popular investment fund will affect them and when they might get back the money they've invested. Wachovia Bank N.A. notified...

Colorado liquid crystal outfit restores NE Ohio base; Kent State's tech reputation, grant spur Pathogen's plan to build local operations.(Northeast Ohio)(Pathogen Systems)
October 6, 2008... Byline: CHUCK SODER A liquid crystal technology that left Northeast Ohio for Colorado more than two years ago is about to result in investment back home. Pathogen Systems Inc., which is developing devices that use liquid crystals to...

Cool Places To Work; COMMUNITY SERVICE.
October 6, 2008... THE WINNER IS . . . SKODA MINOTTI In business, the client always comes first. But many businesses in Northeast Ohio also are sure to carve out a place for service to the community. One such company, accounting and business services...

Valley National picks up acquisition pace.
October 6, 2008... Valley National Gases LLC in Independence has completed one acquisition and inked an agreement to make another. The provider of industrial, medical and specialty gases completed the purchase of L.P. Gas Co., a distributor of propane with...

Cool Places To Work; CLEVELAND ROCKS/CRAIN'S CHOICE.
October 6, 2008... THE WINNER IS . . . Liggett Stashower In baseball, they're called five-tool players those who excel at hitting for average, hitting for power, baserunning skills and speed, throwing ability and fielding. (Think Grady Sizemore, Indians...

Lack of investor interest prompts Flashline to suspend fundraising; Firm still plans on smaller infusions.
October 6, 2008... Byline: CHUCK SODER A new investment fund in Beachwood is going to be a lot smaller than originally planned. Flashline Partners LP about a month ago decided to stop raising money for now because it had trouble finding willing...

Clinic's cardio center boosts Arteriocyte; Stem cell firm, with $496K from GCIC, speeds up plan for bringing therapeutic product to market.
October 6, 2008... Byline: CHUCK SODER A year ago, Arteriocyte Inc. was like the small but promising freshman on the high school football team. This year, however, it's a lot bigger and a heckuva lot faster. The Cleveland stem cell company not only...

TAX LIENS.(United States. Internal Revenue Service)
October 6, 2008... The Internal Revenue Service filed tax liens against the following businesses in the Cuyahoga County Recorder's Office. The IRS files a tax lien to protect the interests of the federal government. The lien is a public notice to creditors that...

FACES IN THE CROWD.
October 6, 2008... Byline: JASON MILLER Crain's Cleveland Business, as part of our inaugural Cool Places to Work celebration, hosted a crowd of 300 at The Ritz-Carlton Cleveland's Silver Grille on Sept. 24. 1. Winners in each category took home these...

REPORTERS' NOTEBOOK.
October 6, 2008... Money manager Mateyo takes Nat City to task * George Mateyo, president and CEO of Carnegie Capital Asset Management Co., makes no apologies for a Sept. 18 letter to clients that expresses outrage at former National City Corp. CEO David...

Cool Places To Work; SUSTAINABILITY.
October 6, 2008... THE WINNER IN. . . Lube Stop It wasn't too long ago that these kinds of statements from a company would have seemed, well, pretty radical: * "The United States is currently headed down a path of unsustainable consumption and...

Cool Places To Work.(Brief article)
October 6, 2008... Byline: Information throughout compiled by Scott Suttell It's not always easy to define "cool.'' Most people use that word in some aspect of their lives, and it can mean different things. Cool is, indeed, largely in the eye of...

INSURANCE PLAN; MetroHealth works to add commercial patients, addresses framework for care of uninsured.
October 6, 2008... Byline: SHANNON MORTLAND smortland@crain.com Not one to hold its breath for federal health care reform, The MetroHealth System is forging ahead with its own plans to better manage its services to uninsured patients and boost the number...

CENTRAL PARK OF SOLON.(Brief article)
October 6, 2008... * What it is: A plan to replace 70 homes, a shopping center, a lumberyard and other commercial properties with a $600 million mixed-use development * What The Coral Co. needs: Passage of a referendum, Issue 108, that would rezone 100 acres...

KSU chief reshapes financial model; Plan gives deans more budget control.(Kent State University)(Lester Lefton)
October 6, 2008... Byline: SHANNON MORTLAND In a state with 14 public universities, Lester Lefton is trying to make Kent State University stand out. With two years as president of the school under his belt, Dr. Lefton is implementing a number of...

Campaign on for $600M Solon megaplan; Developer, city officials urge voters to pass referendum on mixed-use project.
October 6, 2008... Byline: STAN BULLARD When campaigning door to door, after knocking, step back as the door opens. That's the only way to avoid a dog bite if the resident canine is a biter. Also, don't go door-to-door on Sunday afternoons. Interrupting...

Cool Places To Work; INTERESTING SPACES.
October 6, 2008... THE WINNER IS . . . ka architecture Cary Grant. Jacqueline Kennedy. George Clooney. Sophia Loren. Paul Newman. These icons of cool came from disparate backgrounds, but they all understood one thing: Like it or not, style matters. ...

CORRECTION.(Correction notice)
October 6, 2008... The full name of the author of a Page 26 Adviser column in last week's Legal Affairs section was omitted. Stanley Dub, a Cleveland attorney who specializes in franchise law, wrote the column.

Progressive slashes 2Q media spending By JOHN BOOTH.(Company overview)
October 6, 2008... Byline: jbooth@crain.com After starting the year with its highest single quarter of ad spending in the past 3 1/2 years, Progressive Corp. cut that amount by more than 37% in the second quarter from the prior quarter, according to figures...

FOR THE RECORD.
October 6, 2008... CRAIN SURVEYS INVESTMENT MOVES * Financial news weekly Investment News and the four city business newspapers of Crain Communications Inc. are conducting a three-question online survey to determine whether people are moving their investment...

Cool Places To Work; JUST PLAIN COOL.(KPMG L.L.P.)
October 6, 2008... THE WINNER IS . . . KPMG Yes, you read that right. Our winner in the Just Plain Cool category, KPMG, is an accounting firm. John MacIntosh, managing partner of KPMG, recognizes that accountants don't exactly have a cool image. But...

Cool Places To Work; SOCIAL NETWORKING.
October 6, 2008... THE WINNER IS . . . Cleveland Cavaliers The Cleveland Cavaliers don't confine their team effort to the basketball court. Employees of the NBA team have lots of ways to network and stay connected with their co-workers. For instance,...

Cool Places To Work; BEST PERKS.
October 6, 2008... THE WINNER IS . . . Hyland Software For a lot of us, getting a haircut, stopping at the dry cleaner and washing the car represent the mundane details of a weekend to-do list. For Hyland Software employees, they're all in a day's...

GOING PLACES.(briefs)(Carl Walker Inc.)(Grunwell-Cashero Co.)(ABCO Fire Protection Inc.)
October 6, 2008... Job Changes construction CARL WALKER INC.: Kurtis Taylor to design engineer. GRUNWELL-CASHERO CO.: Chad Helms to estimator/project manager. distribution ABCO FIRE PROTECTION INC.: Todd Barber to vice president and general...

Officials alter campaign strategies amid absentee changes.
October 6, 2008... Byline: JAY MILLER For some Ohio voters, Election Day has come and gone. That reality, brought by the Sept. 30 start of absentee voting, has altered the way politicians go about the business of wooing voters. "Election Day is now...

Landerwood overflow leads Palmieri to plan Beachwood office site.
October 6, 2008... Byline: STAN BULLARD Luxury homebuilder and hair salon owner Dino Palmieri is planning to pump up his presence in the suburban office market. Shortly after inking a lease with Majestic Steel USA Inc. of Bedford Heights to fill the...

Candidates lighting up Cleveland, state airwaves.
October 6, 2008... Byline: Jay Miller The Cleveland television market has made it into the Top 10 markets this year at least for presidential campaign television advertising. And Ohio is fourth among the states for campaign spending. With the state...

A CLOSER LOOK.
October 6, 2008... * The company: Park Place International, Chagrin Falls * What it does: Provides post- warranty server maintenance and hardware consulting * What it's done: Has offered its computer hardware services in more parts of the country; to do...

FAA mulls consolidating radar operations; Hopkins could land dozens more jobs if other Ohio cities' controllers come here.
October 6, 2008... Byline: JAY MILLER The Federal Aviation Administration is considering consolidating some of its northern Ohio radar operations at a new operations tower that would be located at Cleveland Hopkins International Airport. The move could...

A living legacy of Depression's impact.
October 6, 2008... Byline: Dan Shingler Man, I hope there's not another depression. The first one nearly ruined my childhood. The Great Depression reached me through the psyche of my father, who was born in 1927 in rural Pennsylvania. It shaped his life...

Large clients boost Chagrin Falls tech firm's revenue; A more national focus helps provider of hardware consulting, server maintenance notch gaudy figures.
October 6, 2008... Byline: CHUCK SODER A few big customers have helped put the "national'' in Park Place International Inc. Revenue growth at the Chagrin Falls company has exceeded 16% for each of the last five years, and in some years was much higher,...

Community banks see traffic push; As big institutions falter, local little guys experiencing uptick in business.
October 6, 2008... Byline: ARIELLE KASS The country's financial crisis is producing a steady stream of patrons and questions at community banks in Northeast Ohio. With large banks such as Wachovia and Washington Mutual biting the dust and local giants...

COMING NEXT WEEK; Small Business.
October 6, 2008... Mother Nature can leave businesses vulnerable to destruction after a disaster. Three businesses that were destroyed by fire last year demonstrate how loyalty and determination can pave the path for rebuilding.

MARKET WATCH.(Brief article)
October 6, 2008... 2nd quarter 2008 2nd quarter 2007 Homes in 25 Northeast Ohio counties in the second quarter of 2008 took nearly a week longer to sell than they did in the like period a year ago, according to the Fall 2008 edition of the "Real Facts newsletter...

Cool Places To Work; COOL SPACE.
October 6, 2008... THE WINNER IS . . . Marcus Thomas LLC In the Cool Space category, integrated marketing company Marcus Thomas LLC took top honors for its gorgeous, open and pet-friendly space in Warrensville Heights. "We are the coolest space in...

Reporters' Notebook.(Dix and Eaton Inc.)
October 13, 2008... Sounds like a whale of a time Dix & Eaton aiming to boost the profile of its marketing side? Not entirely unexpected. But Dix & Eaton using things such as video clips of staffers running through 200 Public Square (the former BP Tower)...

The Week.
October 13, 2008... The big story: National City Corp. apparently is for sale. The stock market continued to tank. The Federal Reserve lowered interest rates to try to control the economic damage. In short, the $700 billion financial bailout bill doesn't seem to...

A MEASURED APPROACH.
October 13, 2008... Byline: JOHN BOOTH As the holiday season nears, retailers tailor strategies according to budget-conscious consumers Asked to ponder the coming holiday season, Things Remembered president and CEO Michael Anthony's first response is,...

The Big Issue.
October 13, 2008... Has passage of the financial bailout package boosted your confidence in the economy? If not, what would? STEPHEN SMITH Cleveland It hasn't boosted my confidence in the economy. What would happen if we held more of the businesses...

Many men feeling the pain of not seeing a doctor.
October 13, 2008... Byline: JUDY STRINGER Males often more lax about their health, which can lead to more serious conditions Ask Paul Hanna if he was one of those busy entrepreneurs who neglected his health in the face of an unforgiving work schedule and...

WHEN BUSINESS IS DOWN.
October 13, 2008... Byline: SCOT ALLYN After disaster strikes, patience, perseverance help rebuilding efforts gain new ground As a destructive windstorm blew through Northeast Ohio Sept. 14, toppling trees and leaving hundreds of thousands of commercial...

HealthLine springing to life amid wave of uncertainty.
October 13, 2008... Byline: JAY MILLER and STAN BULLARD After more than three years of disruptive construction along Euclid Avenue, the Greater Cleveland Regional Transit Authority's 21st- century bus/rapid transit line, the $200 million HealthLine, is...

Telecom firm realizes value of customers' savings push.
October 13, 2008... Byline: CHUCK SODER The SpyGlass Group is coming off a strong year despite the struggling economy and partly because of it. The Westlake company, which helps businesses find savings in their telecommunications bills, has more than...

Banks intensify advertising buys; Local firms tout positives, including CD rates.
October 13, 2008... Byline: ARIELLE KASS Traditionally, U.S. Bank isn't one to advertise. But this year, the Minneapolis-based bank with 57 branches in the Cleveland and Akron areas is stepping up efforts to tell its story in tough financial times. A...

Beleaguered businesses doing more to avoid bankruptcy court; Risks, costs make alternative options attractive.
October 13, 2008... Byline: ARIELLE KASS Jean Robertson, Alan Lepene and Shawn Riley are spending less time in court. But that doesn't mean the Cleveland bankruptcy attorneys are twiddling their thumbs nor does it mean they won't be appearing more frequently...

Local credit unions draw more consumer interest.
October 13, 2008... Byline: ARIELLE KASS Cardinal Community Credit Union is seeing 200 new members a month. An additional $1.8 million in certificates of deposit and money markets came through the door in September. Four or five new mortgage applications are...

Fot the Record.
October 13, 2008... L.A. FIRM'S NAT CITY STAKE EXCEEDS 5% Capital World Investors of Los Angeles last Friday reported it now owns a 5.1% stake in National City Corp., and is the beneficial owner of 103,764,990 of the more than 2 billion National City shares...

Step up.
October 13, 2008... Mortgage lenders helped get us into this financial mess, and it's going to take mortgage lenders to help get us out of it. Bank of America Corp. has set an example for other mortgage lenders to follow with its agreement to engage in a broad...

Surprise! Here's the October surprise.
October 13, 2008... It looks as though the October surprise in the 2008 presidential election will be one that no one could have dreamed of, or ever wanted, regardless of political stripe. Who could have imagined a meltdown of the world's financial markets as...

Despite selloff, former Jo-Ann CEO pleased.
October 13, 2008... Byline: JOHN BOOTH Though Jo-Ann Stores Inc.'s former CEO, Alan Rosskamm, has overseen his family's net selloff of more than 370,000 shares in the retailer this year, he maintains confidence in the Hudson company's outlook. "My...

LONG-TERM CONCERNS.
October 13, 2008... Byline: SHANNON MORTLAND Retirement communities forced to rework credit arrangements, dip into endowments to cover construction, operating costs Lauren Rock and the Montefiore retirement community in Beachwood weren't expecting the...

Manufacturers' credit spigot not yet shut off.
October 13, 2008... Byline: DAN SHINGLER Respondents to WIRE-Net survey do admit to delaying projects, hiring as economy lags While they're feeling indirect effects from the nation's credit crunch and economic gloom, Northeast Ohio manufacturers report...

Grand Openings.
October 13, 2008... Carnegie Java 4601 Carnegie Ave. Cleveland 44103 Owner Clifford King is running a new drive-through coffee shop on Carnegie Avenue, next to D. O. Summer Cleaners. He says the store offers freshly ground coffee daily from 6:30 a.m....

Short Takes.(briefs)(Lorain County Community College Foundation)(Great Lakes Pain Management)
October 13, 2008... THEIR WISHES ARE GRANTED: Six Northeast Ohio companies have received a total of $375,000 in grants from the Lorain County Community College Foundation's Innovation Fund. It's the most money the fund has given in any quarter since its formation...

Going Places.
October 13, 2008... Job Changes engineering TEC INC.: Robert Mehosky to senior associate, director of mechanical engineering; Brandon Sargent to electrical engineer; Amy Lauria to production assistant. financial service APPLE GROWTH PARTNERS:...

What's New.
October 13, 2008... COMPANY: Timken Co., Canton PRODUCT: M15 Modular Magnetic Encoder Timken says the new encoder "provides more reliable feedback than optical encoders to keep motors and factory-automated equipment running longer, even in harsh...

Regional banks may succumb to takeovers; As stock prices fall, Nat City, Key may be casualties of industry consolidation wave.
October 13, 2008... Byline: DAN SHINGLER For decades, Cleveland has enjoyed the fruits and status of being one of the major U.S. centers of banking, thanks to the local headquarters of both National City Corp. and KeyCorp. Now, with the stocks of the...

Trust to match Rainbow gifts.(Fred A. Lennon Charitable Trust donates to Rainbow Babies & Children's Hospital )(Brief article)
October 20, 2008... The Fred A. Lennon Charitable Trust announced it will match any individual's donation to University Hospitals' Rainbow Babies & Children's Hospital up to $1,000 until $2 million is raised. The money will support the development of a highly...

What's New.(brass fittings)(Brief article)
October 20, 2008... COMPANY: Brennan Industries Inc., Solon PRODUCT: Line of brass fittings Brennan, a supplier of hydraulic fittings and adapters, says it has expanded its line of brass fittings for pneumatic, hydraulic and instrumentation uses. The new...

For the Record.
October 20, 2008... GATEWAY HOSPITALITY SELLING FIVE HOTELS Twinsburg-based Gateway Hospitality Group is selling five of its nine hotels to Apple REIT Cos., a private real estate investment trust in Richmond, Va. Bob Voelker, Gateway CEO, said he sold the inns...

The week.(University of Akron will work together to boost community health)(Federal Bureau of Investigation investigates corruption in County government)(Goodyear Tire & Rubber Co. chief financial officer resigns)
October 20, 2008... One reason for optimism: Five Akron-area institutions announced the launch of an $80 million BioInnovation Institute that aims to create biomaterials and medical devices that will improve people's health and save lives. As partners in the...

Go, team.
October 20, 2008... The winds of collaboration are blowing in Akron, and the payoff for Northeast Ohio could be an economic engine that uses the city's strength in polymer sciences to provide even more power to the region's efforts to become a global hub of...

Reporters' Notebook.(Ohio Department of Job and Family Services released unemployment data)(Tremont Electric LLC. recieves county finance to boosts its energy technology)
October 20, 2008... End of an era: Ohio tops U.S. in jobs performance The Ohio Department of Job and Family Services last week released its unemployment data for September, which showed the state continued to lose jobs. But for the first time in more than 12...

SENDING A MESSAGE.(printing industry increases its sales due to presidential election campaigns)
October 20, 2008... Byline: JOHN BOOTH Active election season delivers mixed results in direct-marketing firms' sales, production Like the messages they carry, those political postcards, letters and brochures stuffing your mailbox are affecting local...

Commissioner hopefuls differ on how to advance economy.(County government elections)
October 20, 2008... Byline: JAY MILLER Jones touts prior accomplishments; Sutherland proposes budget, elected official restructuring The two candidates vying for a Cuyahoga County commissioner seat this year agree on the most controversial decision the...

R&D tax credit boost for U.S.
October 20, 2008... Byline: MIKE VERESPEJ The two-year, $14 billion extension of the research-and-development tax credit approved as part of the $700 billion federal economic bailout package in early October ends the uncertainty at least until the end of...

Jenniffer Deckard.
October 20, 2008... If Jenniffer Deckard had played football instead of volleyball in college, she probably would have been an all-purpose back in the manner of former Heisman Trophy winner Reggie Bush. That's just how multidimensional Ms. Deckard is. The...

Investment plan participants trying to save bottom line.
October 20, 2008... Byline: JOHN D'ANTONA JR. Executives brace for retirement funds shift Defined contribution plan executives are girding themselves for a massive shift of assets into stable value funds and out of equities when participants receive...

Deloitte survey: Future may be brighter.
October 20, 2008... Byline: ARIELLE KASS Things aren't so bright now, but better days may be coming. That's the gist of responses by Northeast Ohio business leaders to survey questions that attempt to gauge their sentiment toward the region's economic...

Patricia A. Gaul.(management of Patricia A. Gaul in nonprofit organization)
October 20, 2008... In theater, the roles of the backstage crew are just as important as those of the actors. Similarly, Patricia A. Gaul's efforts behind the scenes at Playhouse Square Foundation have played a key part over the last two decades in the...

Nat City CEO gets personal on job's demands.
October 20, 2008... Byline: ARIELLE KASS His job, National City Corp. CEO Peter Raskind says, could be all-consuming. But during a frank and sometimes self-deprecating discussion last week about his 16 months at National City's helm, Mr. Raskind said...

John Flanagan.(Howley Bread Group Ltd)
October 20, 2008... John Flanagan is part of the team that has Howley Bread Group Ltd. on the rise. Mr. Flanagan is chief financial officer of Westlake-based Howley Bread, a Panera Bread franchisee founded in 2000 that has seen its sales rise to $45...

Michael Headen.(Equipment manager of field equipment for professional baseball team)
October 20, 2008... Michael Headen is a Clevelander to his core. How Cleveland is he? Cleveland enough that the first item on his resume, from 1980 to 1981, is, "Batboy Cleveland Indians Baseball Co. Responsibilities: Equipment manager of field equipment for...

Mark Eisele.(chief financial officer tackles with financial situation of his firm)
October 20, 2008... ROIC. EQIT. The Four Cornerstones. Welcome to Mark Eisele's professional world. Mr. Eisele is chief financial officer at Applied Industrial Technologies Inc., the Cleveland-based distributor of bearings and industrial parts. Under...

Elyria IT firm boosts NASA work with $40M contract Space agency seeks better cooperation at all centers.
October 20, 2008... Byline: CHUCK SODER Information Dynamics CEO Bob Stauffer now technically can say Ross Perot's old company works for him. The Elyria company's status as a NASA contractor received a big lift in August when it won a contract that could...

Data Center.
October 20, 2008... ANNIVERSARIES Mentor-based Process Technology, which makes industrial heating and process equipment, is celebrating its 30th year in business. Process Technology serves the semiconductor, metal finishing and electroplating markets, among...