Crain's Detroit Business articles from October 2008

Crain's Detroit Business archives from October 2008

MSU med school to reserve slots for some GVSU premed students.
October 6, 2008... Byline: Amy Lane,CDB Grand Valley State University and Michigan State University announced an agreement linking some GVSU premedical students with admission into MSU's medical school. The program was announced by the presidents of the...

The power of resilience; Bouncing back from medical problems can be a matter of attitude.
October 6, 2008... Byline: Maureen McDonald Mida Giragosian looks up at the clock inside her bustling public-relations agency in Royal Oak. It's 4:30 p.m. Time to whisk her purse, briefcase, BlackBerry and laptop into her car and zoom over to William...

Valenti: Roots of financial crisis go back to 1998.
October 6, 2008... Byline: Tom Henderson and Nathan Skid Sam Valenti III, the chairman and CEO of Valenti Capital L.L.C., a wealth-management firm in Bloomfield Hills, says that the bailout package that was approved Friday won't save hundreds of small banks...

Apartment market down, not out; Sales take a hit in struggling economy, but strong market fundamentals keep investors ringside.
October 6, 2008... Byline: Daniel Duggan When it comes to buying and selling metro Detroit apartment buildings, there's good news and bad news. The good news: The Detroit market is considered to have some of the strongest fundamentals of any apartment...

Can Tigers spin the turnstiles again?
October 6, 2008... Byline: Bill Shea The primary fallout from the Tigers' last-place finish is likely going to be at Comerica Park's turnstiles. In fact, the team could see as many as 400,000 fewer tickets sold, said Mike Dietz, president and director of...

Legislators must cut cost of government.
October 6, 2008... Recession'' is an ugly word, but "denial'' can be more dangerous. But it's the latter word we cannot afford in Lansing as Michigan lawmakers and Gov. Granholm deal with the fallout of the current financial crisis. With or without the...

East-side real estate forum detours to Grand Rapids.
October 6, 2008... Byline: Daniel Duggan Having an office in Grand Rapids for the past five years, Tom Wackerman couldn't help but notice the brisk economic activity there. So when he was elected chairman of the University of Michigan-Urban Land...

Real estate leaders from Southeast, West honored.
October 6, 2008... Byline: Daniel Duggan Real estate executives who are proven leaders in closing big deals and use creativity and persistence in negotiations will be honored at the upcoming University of Michigan/Urban Land Institute Real Estate Forum. ...

Detroit residential market slows; bright spots emerge.
October 6, 2008... Byline: Daniel Duggan Detroit developers speak fondly of the environment of a few years ago, when there seemed to be a condo development planned at every corner. While there still are new projects in the planning and building phases...

Business must stand up and be counted.
October 6, 2008... We've got ourselves a new mayor in Detroit, and whether you like it or not, it's a fact. And he's going to be mayor for at least the next few months. The mayor of Detroit needs the support of all business executives in the tri-county area....

IN THE SPOTLIGHT.
October 6, 2008... Dr. Jordan Maier has been named medical director of the Weisberg Cancer Treatment Center in Farmington Hills, part of the Detroit-based Barbara Ann Karmanos Cancer Center. Maier, 34, had been in practice at the Cancer Centers of Florida in...

CALENDAR.(Calendar)
October 6, 2008... Tuesday oct. 7 Universities as a Catalyst for Urban Development. 8 a.m.-3:30 p.m. Detroit District Council of the Urban Land Institute and Wayne State University. Luis Proenza, president, University of Akron. Wayne State University,...

WEEK IN REVIEW.
October 6, 2008... Area business, political leaders react to $700B bailout Reaction from metro-area business and political leaders to the passage of the $700 billion bailout bill by the U.S. House Friday ranged from enthusiastic to resigned. The Senate...

Good things happen when we buy local.
October 6, 2008... Last week, I made a decision: No more buying stuff online. Even though, like most people, I'm cutting back on nonessentials, whatever I buy, I'm going to try to buy from a local bricks-and-mortar store. I want to spend money close to home....

Most see gloomy year for Michigan business.
October 6, 2008... Byline: Amy Lane Michigan residents aren't predicting an upturn in state business conditions any time soon. The latest quarterly State of the State Survey, conducted by Michigan State University's Institute for Public Policy and Social...

Coming up.
October 6, 2008... What's next with the Michigan Business Tax: * Lawmakers continue to mull changes to surcharge and other elements. * The Michigan Department of Treasury, in early November, plans to issue drafts of 26 forms and three instruction books...

Don't expect big local banking presence by Wall Street firms.
October 6, 2008... Byline: Tom Henderson Goldman Sachs Group Inc. is ramping up its retail banking operations, but don't look to make any deposits or open up a checking account with the firm in Michigan any time soon. But if you hanker to have the words...

MBT add-on: Gone by 2012? Biz also wants credits restored, other changes.
October 6, 2008... Byline: Amy Lane It's been no small outcry in the business community that pushed Republican and Democratic state senators last week to take a swipe at a $722 million unpopular element of Michigan's business tax. And one reason the...

Interview with WSU president.
October 6, 2008... Dr. Jay Noren, new president of Wayne State University, outlines WSU's strengths and challenges in an interview with Crain's Detroit Business. To watch the video and hear what Noren had to say, go to www.crainsdetroit. com/multimedia.

Cornered by credit; As $1B in loans come due, will landlords find funds?
October 6, 2008... Byline: Daniel Duggan Investors trying to buy or sell buildings aren't the only members of the commercial real estate industry at risk in the credit crisis. Hundreds of millions of dollars possibly $1 billion by some estimates in...

Doctor-quality data now online; 12 physician groups measured in 20 categories.
October 6, 2008... Byline: Jay Greene In a long-awaited public report on the quality of physician organizations in Southeast Michigan, the Greater Detroit Area Health Council Inc. has rated 12 physician organizations on five quality, preventive and...

BUSINESS DIARY.
October 6, 2008... acquisitions ANXeBusiness Corp., Southfield, has acquired the Virtual Private Network division of Positive Networks Inc. of Overland Park, Kan. contracts CoachMeFit, Birmingham, has become the training home of two contestants on...

Learn debt-collection alternatives for small biz.
October 6, 2008... Byline: Alan Baker Last week, Congress voted to pass a bailout plan for Wall Street and President Bush signed it. While the action in Congress is meant to help the overall economy, it won't help you collect the debts owed to your...

Love of mystery; Albert Lorenzo.
October 6, 2008... Byline: Bernadine Stallings Albert Lorenzo, 65, recently celebrated 29 years as president of Macomb Community College. Now retired from the post, he says his greatest professional achievement was signing 95,181 diplomas. "Anything from...

Proposed transit legislation.
October 6, 2008... A breakdown of state Rep. Marie Donigan's proposed transit legislation: * The governing body of a municipality could establish a transit revitalization investment zone TIFA (tax increment financing authority) and enter into an agreement...

Mass-transit backers: Change in state funding needed.
October 6, 2008... Byline: Bill Shea If Michigan is going to have a statewide transportation vision when it comes to funding and infrastructure, it's going to bubble up to Lansing from the grassroots mass-transit boosters. That's the likely scenario,...

Capitol ideas; Regions to Lansing: Focus on taxes, reform, keeping talent.
October 6, 2008... Byline: Amy Lane Here's one thing on which business leaders in Southeast Michigan and West Michigan clearly agree: They want big change out of the Capitol. From the West Michigan perspective, that includes eliminating the new Michigan...

Staffing firm grows by following own advice - hire a headhunter.
October 6, 2008... Byline: Sherri Begin After spending three years looking at potential acquisitions of small staffing companies in major markets, Venator Holdings L.L.C. did something unusual. The Troy-based firm, which typically performs...

St. Joseph plan: Link 12 hospitals in statewide cancer network.
October 6, 2008... Byline: Jay Greene Executives of St. Joseph Mercy Health System in Ann Arbor are developing a statewide cancer network they believe will enable doctors to coordinate care more effectively, increase referrals and boost revenue within the...

A CONVERSATION WITH; Ron Gantner, Jones Lang LaSalle.(Interview)
October 6, 2008... Ron Gantner is a corporate real estate adviser in the Detroit office of Chicago-based real estate company Jones Lang LaSalle, where he is an executive vice president and part of the tenant advisory team. He spoke with Crain's reporter Daniel...

BANKRUPTCIES.
October 6, 2008... Byline: Julie Dawso The following businesses filed for Chapter 7 or 11 protection in U.S. Bankruptcy Court in Detroit Sept. 26-Oct. 2. Under Chapter 11, a company files for reorganization. Chapter 7 involves total liquidation. Detroit...

The Guidance Center marks 50.
October 6, 2008... The Guidance Center of Southgate will host its 50th Anniversary Gala 6:30 p.m.-midnight on Oct. 11 at the Henry Ford Museum. Proceeds benefit the agency's behavioral health, substance abuse and community outreach programs. Tickets are $225 a...

Menu of savings.
October 6, 2008... Byline: Nathan Skid * Andiamo 11 locations in metro Detroit Two five-course dinners and two glasses of sparkling wine: $49.95. Valid through Oct. 31. * Seldom Blues Renaissance Center, Detroit Entree and...

Tigers put to test; Can team win back fans, advertisers?
October 6, 2008... Byline: Bill Shea Coming off two winning seasons, including a 2006 World Series appearance and blockbuster trades after last season, Detroit Tigers fans gobbled up tickets at a record pace in hopes of a championship year. Now, a...

Wayne, Oakland counties create own `medical corridor'.
October 6, 2008... Byline: Jay Greene Ever heard of the Woodward Medical Corridor? Not many people have, outside of the Southeast Michigan health care industry. Nobody exactly knows who coined the term, although several people pointed to L. Brooks...

Handleman liquidation leaves questions for shareholders.
October 6, 2008... Byline: Nancy Kaffer Shareholders in the Handleman Co. (Pink Sheets: HDLM) approved the company's plan of liquidation and dissolution last week, but executives aren't making any promises about cash distributions to shareholders. ...

Spillover effects.
October 6, 2008... A downturn for the Tigers can have a spillover effect. Earlier this year, the Detroit Regional Chamber estimated the team's 81 home games would have a $277 million positive economic impact on the region. East Lansing-based Anderson Economic...

Health care on the Woodward Medical Corridor.
October 6, 2008... * Blue Cross Blue Shield of Michigan, Detroit * Detroit Medical Center. DMC locations in the corridor include Detroit Receiving Hospital, Hutzel Women's Hospital, Harper University Hospital, Rehabilitation Institute of Michigan and...

BRIEFLY.
October 6, 2008... BeneSys to manage VEBA for UAW retirees of Dana Corp. BeneSys Inc., a Troy-based employee benefits administrator, has landed a contract to manage a Voluntary Employees' Benefit Association for 6,000 United Auto Workers retirees of...

Downtowns must court young, CEOs for Cities president says.(Conference notes)
October 6, 2008... Byline: Amy Lane, CDB Efforts to revitalize downtowns need to keep the race for young, educated workers top of mind. That was the message from speakers during the West Michigan Regional Policy Conference held in Grand Rapids in...

Senate OKs bill to encourage more charter high schools.
October 6, 2008... Byline: Sherri Begin Charter school operators of multiple elementary and middle schools could continue to give priority to their existing students for entrance into high school grade levels as they add them, under a bill that cleared the...

There was some good news ...
October 6, 2008... Detroit had some bright spots and a cadre around which to build in 2009: * Infielder Miguel Cabrera hit 37 home runs to lead the A.L. * Center fielder Curtis Granderson's 13 triples led the league, and his 112 runs were second. *...

PEOPLE.
October 6, 2008... architecture Chris Coulter to associate, SmithGroup, Detroit, from lighting designer; Andrew Dunlap to associate, from architect; and Laura Westphal to associate, remaining as marketing manager, Detroit office. construction Ken...

Nighttime shuttle to connect Detroit, Ferndale, Royal Oak.
October 6, 2008... Byline: Nancy Kaffer Starting Friday, there will be a new way to get around the metro area or at least parts of it. The Night Move, a new shuttle service, will ferry passengers between Royal Oak, Ferndale and downtown Detroit. ...

THIS JUST IN.
October 6, 2008... Bills seek to widen foundations' investments State legislation that could open the door to foundation investment in economic and community development efforts is on its way to the full Michigan Senate. Senate Bills 1445 and 1446, which...

Maybe if Sen. Cassis had a cameo role?
October 6, 2008... There's not much softening Sen. Nancy Cassis' stance against giving public money to filmmakers. Not even a film under production in the Republican's home city of Novi. "Demoted,'' a comedy about two prank-playing tire salesmen, is...

Restaurants dish up meal deals to attract customers.
October 6, 2008... Byline: Nathan Skid There's something exhilarating, yet nerve-racking, about finding a great deal. Oh, no, you say. It can't be that cheap. Should I fess up or play dumb? Well, brush your guilt aside, waive your golden ticket (aka...

To be most admired, hire here, invest here, focus here.
October 13, 2008... Byline: Ryan Beene In an economy marked by uncertainty and turmoil, local companies and business leaders with a firm commitment to the metro Detroit region carry clout among their peers. But having a commitment to the region means more...

Business Diary.
October 13, 2008... Acquisitions AkzoNobel, a Troy paint and coatings supplier, has acquired Soliant L.L.C., a Lancaster, S.C., manufacturer of decorative paint and bright films. Contracts Technical Training Inc., Rochester Hills, will provide dealer...

Conference aims to put more of Oakland County on silver screen.(Conference notes)
October 13, 2008... Byline: Chad Halcom So what does it take to blow up a toilet for comic effect in Oakland County? "Well, I understand you need connection to at least a 4-inch water line,'' marketing coordinator Susan Dorris of Oakland County Film said...

Corrections.(Correction notice)
October 13, 2008... * In a Sept. 29 "This Just In'' about Jim Croce stepping down as CEO of NextEnergy for a job in the private sector, NextEnergy Chairman Chris Rizik was quoted indirectly as saying discussions to choose a successor had hit a snag. Rizik says the...

Proposal 1.
October 13, 2008... * The proposed law would permit physician-approved use of marijuana by patients with medical conditions such as cancer, glaucoma, HIV, AIDS, hepatitis C and multiple sclerosis. * The law would create a registry of patients and an...

"Perfect storm' of bad breaks ices Microheat's rise.
October 13, 2008... Byline: Robert Sherefkin and David Barkholz Microheat Inc. was hot. General Motors Corp. sold nearly 1 million units of Microheat's HotShot, a hot-spray windshield washer, on its pickups, SUVs and luxury vehicles. Ford Motor Co. and...

18 companies commit to invest in Southeast Michigan.
October 13, 2008... Byline: Chad Halcom and Amy Lane By Chad Halcom and Amy Lane The following is a roundup of recent job-creation commitments: Oakland County Last week the Oakland County Emerging Sectors Program said six businesses were...

School of Rock on a roll; Numbers crank up as local kids dream of stardom.
October 13, 2008... Byline: Chad Halcom There aren't many local corporations where the COO comes to work in a vintage Iron Maiden concert T-shirt, or the employees can hold their own in a mosh pit as well as a board meeting. But Terry Longhway of Troy has...

Edison revamps phone system for high-volume calls.
October 13, 2008... The Detroit Edison Co. is working with its telecommunications vendors to improve its ability to handle high volumes of calls, in the wake of Edison phone system failures during catastrophic June storms. The phone system operated with...

Will pot be OK in workplace? Foes say Prop 1 may allow use, others disagree.
October 13, 2008... Byline: Amy Lane Newly organized opponents to Michigan's medical marijuana ballot proposal are raising red flags about the proposal, citing negative workplace implications if the measure passes. A memo issued last week says the...

Hispanic Business Alliance to release economic impact report at business expo.
October 13, 2008... Byline: Nancy Kaffer The Hispanic Business Alliance's annual Hispanic Business Expo and Economic Summit has come a long way. Seven years ago, the first event had about 100 attendees and 10 exhibitors. Last year, about 3,500 attended,...

Bankruptcies.
October 13, 2008... The following businesses filed for Chapter 7 or 11 protection in U.S. Bankruptcy Court in Detroit Oct. 3-9. Under Chapter 11, a company files for reorganization. Chapter 7 involves total liquidation. 31260 Wakefield L.L.C., 3315 Buckingham...

Bills would raise property tax exemptions for nonprofits.
October 13, 2008... Legislation that would increase the property exemption for the Girl Scouts and similar nonprofits to 640 acres from the current 400 acres passed the Michigan House Sept. 25 and is on its way to the Senate. House Bills 6437 and 6438 also...

GM wants RenCen off books, but a deal will be tough in tight market.
October 13, 2008... Byline: Daniel Duggan Executives from General Motors Corp. made a presentation last week to the board of directors of the city of Detroit's Police and Fire Retirement System. The goal was to find investment capital to tap into the...

Opinion.
October 13, 2008... Help keep buy-local movement moving The buy-local bandwagon may be growing. As Daniel Duggan and Nancy Kaffer report on Page 1, local companies are looking more closely at their vendor decisions. It starts at the top. One of the...

Republican bill to limit film incentives still in production.
October 13, 2008... Byline: Bill Shea A bill capping Michigan's six-month-old film incentives at $50 million annually isn't likely to reach the Senate floor until after the election. That's the word from Matt Marsden, press secretary for Senate Majority...

Rumblings.
October 13, 2008... Hang in there, Valenti urges investors The phone was ringing off the hook Friday at the Bloomfield Hills-based wealth-management firm of Valenti Capital L.L.C. with friends and clients of Chairman and CEO Sam Valenti III in a state of...

OCC trustees' credit card use raises questions.
October 13, 2008... Byline: Chad Halcom Perks, travel and vague past policies about credit card use at Oakland Community College have allowed the school's Board of Trustees to charge nearly $80,000 on OCC plastic since 2004. In fact, two of the seven...

Talk to an expert.
October 13, 2008... Economist David Allardice will hold a conference call at 10 a.m. Tuesday to discuss the international financial marketplace. Allardice, who is director of Walsh College's doctoral programs, worked for the Federal Reserve Bank of Chicago for...

Fight looms over possible sale or expansion of Tecumseh Products.
October 13, 2008... Byline: Chad Halcom Todd Herrick wants to remove and replace the two remaining board members who once voted to remove him as chairman of Ann Arbor-based Tecumseh Products Co. early last year. But Herrick claims he does not want his company...

ASE survey: Most Michigan employers expect cutbacks.
October 13, 2008... Byline: Ryan Beene A majority of Michigan employers say financial market turmoil has soured their short-term business outlook, and many expect to scale back operations and spending during the next 12 months. A survey conducted by the...

In the spotlight.
October 13, 2008... Margaret Loebl has been named corporate vice president, CFO and treasurer of Southfield-based TechTeam Global Inc., a provider of IT services. Loebl, 48, had been group vice president of finance for Archer Daniels Midland Co. in Decatur,...

Charges on OCC plastic.
October 13, 2008... Oakland Community College issued its Board of Trustees American Express Co. credit cards until April 2007, when the board voted to pull them and craft a new policy restricting their use to preapproved travel only. Below is a breakdown of...

Week in Review.
October 13, 2008... Greektown Casino seeks potential buyers Greektown Casino L.L.C. in Detroit has hired investment bank Moelis & Co. to seek potential buyers as it works to emerge from Chapter 11 and moves forward with its permanent hotel plans, the Detroit...

Most admired companies; 14 local companies stand out for their business success, community involvement.
October 13, 2008... Byline: Bill Shea Contributions to the metro Detroit community ruled the day in Crain's Detroit Business' first list of Most Admired Companies. Bloomfield Hills-based Penske Corp. emerged as the most widely admired local company in a...

National stock slide spreads to region as losses increase.
October 13, 2008... Byline: Ryan Beene Though Southeast Michigan stocks have been on a downward slide for weeks and even months now, losses picked up steam last week as fears of a severe, broad-based weakening of the U.S. economy overtook investor behavior....

Who's Hoogendyk? Levin's challenger wants to tell; U.S. Senate candidate hopes debates help name recognition.
October 13, 2008... Byline: Robert Ankeny State Rep. Jack Hoogendyk, R-Portage, says it's easy to know what he stands for and what's he's against: "I'm diametrically opposed to Carl Levin's positions.'' The Kalamazoo-area conservative hoping to unseat...

Calendar.
October 13, 2008... Women's Business Conference Oct. 16-17 The Michigan Women's Business Council presents the Michigan Women's Business Conference and Expo on Thursday and Friday at the Rock Financial Showplace in Novi. Highlights include a power-lunch...

Cox, Blue Cross both declare victory in Accident Fund ruling.
October 13, 2008... Byline: Jay Greene Michigan Attorney General Michael Cox and Blue Cross Blue Shield of Michigan both claimed victory in a ruling that involved the transfer of funds by Blue Cross to allow its for-profit subsidiary, Accident Fund Insurance...

How they were selected.
October 13, 2008... The selection of the Most Admired Companies was through a three-step process that comprised interviewing key business leaders to determine what qualities they believe admirable companies possess, followed by two surveys. The first survey...

It's time for government to hunker down.
October 13, 2008... Last week we heard that our new mayor of Detroit is facing a $100 million deficit. Don't be surprised if that final number is several times larger. It's going to be a very difficult time for government entities all over our state and...

Home health care company grows taking pulse of its quality.
October 13, 2008... Byline: Jay Greene Michael Gilliam prefers to talk more about improving quality and his experienced staff than how fast his company's revenue is growing. Since Gilliam founded Southfield-based Quality Home Health Care Services of...

Locals buying locally; Movement grows as economy shrinks.
October 13, 2008... Byline: Daniel Duggan and Nancy Kaffer Shannon Dunavent was close to a deal to place a new Starbucks store in the soon-to-open Doubletree Guest Suites Fort Shelby in Detroit. She liked the idea, but wanted to find a local company to...

SBA-backed loans drop; credit tight, demand down.
October 13, 2008... Byline: Nancy Kaffer Loans backed by the U.S. Small Business Administration dropped significantly over the past year. Numbers for the end of the fiscal year released last week by the Detroit-area SBA show a 37 percent drop in loans...

How to cope when the competition is spooky.
October 13, 2008... Byline: Alan Baker Every successful businessperson keeps an eye on the competition. Whether you're selling doughnuts or making widgets or providing a professional service, you ignore the competition at your own peril, lest they render you...

New State Bar head Pappas wants group to strengthen advocacy.
October 13, 2008... Byline: Robert Ankeny Ed Pappas, new president of the State Bar of Michigan, says the professional organization of more than 40,000 lawyers should strengthen its role as an advocate for lawyers, law firms and the public. Membership in...

The Hoogendyk file.
October 13, 2008... * Career highlights: Jack Hoogendyk spent 15 years in sales and marketing, eventually working as a national manager with Mead-Zellerbach, a Fortune 500 company supplying disposable paper products to the manufacturing industry. In April...