This Week's Issue of Crain's Detroit Business
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Organizers of the M1 Rail streetcar system plan to award the primary contract to design and build the $137 million transit line in less than two weeks.
The Somerset Collection will be home to the third retail store for luxury brand
Halston Heritage, opening on the heels of its New York City and Los Angeles locations in April.
RML Industries of Grand Haven is getting ready to field test a walk-through checkpoint for airports and large sporting events that it says would have detected the pressure-cooker-type bombs used as an instrument of terror at the Boston Marathon.
The fight for
Compuware Corp. likely will start heating up with the expiration Wednesday of what is called a standstill agreement with its takeover suitor,
Elliott Management Corp.
As Michigan's weather improves, metro Detroit commuters are faced with a new season of headache-inducing road construction.
Employing a strategy it's used in the past to secure operating space,
Mosaic Youth Theatre is helping to fund part of the renovations at the new
University Prep Science and Math Elementary School in Detroit in exchange for space in the school building.
At a news conference around lunchtime in the Capitol on Thursday, Gov. Rick Snyder was asked where negotiations stood on the expansion of Medicaid. As with his other top budget priority -- road funding -- Snyder did not have much to report, other than that progress was slow and he wished it wasn't.
There are pop-up shops and pop-up restaurants. Now there's a pop-up accelerator.
Small businesses and individuals will have another option to purchase health insurance on the federal exchange beginning Oct. 1 as East Lansing-based
Consumers Mutual Insurance of Michigan will ramp up operations under CEO Denny Litos.
Normalcy in the North American automotive market has turned to complacency in the automaker-supplier relationship, according to a new study by Birmingham-based Planning Perspectives Inc. An average of 43 percent of the anonymous 441 tier-one suppliers surveyed say they have a "poor-to-very-poor" working relationship with the six automakers. Chrysler scored the worst, with 50 percent indicating a poor relationship, while Toyota did the best, with 34 percent claiming a poor relationship.
A chopper shot dipping over the Ambassador Bridge. A rally car drifting around Campus Martius. A motocross rider free-styling out of the Packard Plant.
Wixom-based
Alta Equipment Co. expanded this month with a new 70,000-square-foot center in New Hudson.
Apparently, those hordes of leaf-peepers have started taking a toll on some officials up north. Last month, the
Leelanau County Board of Commissioners nixed a partnership with the
Traverse Bay Economic Development Corp. to create a new jobs strategy, the
Traverse City Record-Eagle reported recently. Commissioners also shut down the county's economic development board.
Amy Haimerl has joined
Crain's Detroit Business as entrepreneurship editor, spearheading coverage of entrepreneurship, second-stage companies and small business.
Crain's is seeking nominations for
Health Care Heroes, a special report on health care professionals that will run in the Aug. 12 issue.
As Guy Goodmonson scaled the 150-foot-tall water tower to reach the top platform that had no handrails, he questioned his sanity more than once.
Eric DeLong, the deputy city manager of Grand Rapids, said volunteers helped keep the worst flood the city had seen since 1904 from wiping out downtown landmarks like the
JW Marriott and
Amway Grand Plaza hotels along with the
Grand Rapids Public Museum on the banks of the Grand River.
Even with its government debt, Japan has the fifth-largest GDP in the world at $5.98 trillion.
Wine snobs, move over – the beer snobs have arrived. That's a good thing for Michigan because the craft beer industry grew 20 percent in 2012, with an economic impact tallied at $133 million. Seventeen breweries opened last year in the state, which now ranks fifth in the number of breweries, microbreweries and brewpubs. That kind of impact and growth has garnered attention in Lansing, writes Crain's Publisher Mary Kramer.
Two decades after Michigan passed comprehensive medical malpractice reform, there is ample evidence that both premium rates and lawsuits filed are down.
Richard Boothman was a successful medical malpractice defense attorney when he decided to switch gears in 2001 and take on risk management at what is now the
University of Michigan Health System in Ann Arbor.
•
James Peabody, M.D., a senior staff urologist at the
Vattikuti Urology Institute at
Henry Ford Hospital, Detroit, has been selected as the recipient of the 2013 Residents Committee Teaching Award by the
American Urological Association.
Gov. Rick Snyder is having trouble getting support from his own party on two major initiatives -- road infrastructure and expanding health coverage to the poor. Last week, GOP House Leader Jase Bolger presented a plan that extends health coverage but creates a lifetime cap of four years.
It's been a while since the emergency manager took over for the city of Detroit. Now I admit, I've been out of town from time to time, but I have not heard about the sky falling in on our city.
They say admitting you have a problem is the first step. My problem isn't finding work, it's finding qualified workers.
Visitors to downtown Detroit, around
Wayne State University,
Henry Ford Hospital and other spots, have been getting a spring gift: a pay-station holiday.
Warren-based Crown Group was announced as being acquired by a group of investors; Ford will take over as title sponsor of the annual fireworks in downtown Detroit; the Lions signed "Ziggy" Ansah and eight other draft picks; and a cargo container intended to be a demonstration of a hotel lobby was dropped at Eastern Market.
ACE Group, Zurich, Switzerland, acquired the Mexican insurance business of
Ally Financial Inc., Detroit:
ABA Seguros, Monterrey, Mexico. Ally received about $865 million, which comprised a $690 million cash payment at closing and $175 million dividend paid in the fourth quarter of 2012. Website: www.ally.com.
Versa Real Estate, Southfield, has named
Matthew Evert its first CFO. Evert had been controller and director of accounting for
Wynnstone Communities, Birmingham. Evert, 27, earned a master's degree and a bachelor's in accounting from
Michigan State University.
The following businesses filed for Chapter 11 or Chapter 7 bankruptcy protection in
U.S. Bankruptcy Court in Detroit
May 3-9. Under Chapter 11, a company files for reorganization. Chapter 7 involves total liquidation.
A&L Painting LLC, 15291 Dorothy Drive, Macomb Township, voluntary Chapter 7. Assets: $0; liabilities: $78,630.
Dan Kovoch to vice president, central region,
Barton Malow Co., Southfield, from vice president and general manager, Ideal Contracting LLC, Detroit.
The largest woman-owned companies in Michigan were published in the May 13, 2013 issue. The top 25 companies saw an overall increase in 2012 revenue of 9.2%, with an average increase of 11.5%. No. 20 on the list,
ARC Supply Chain Solutions Inc., had the highest revenue increase with 66.8%.
ARC Supply Chain Solutions Inc. is 75%-owned by Greta Elliott, president, and is Women's Business Enterprise National Council certified.
• A story on Page 21 of the May 6 issue about the settlement of a lawsuit by Troy-based
Flagstar Bancorp Inc. referred to a restatement of earnings the bank holding company did over a previous lawsuit. The change from net income of $66.8 million to a net loss of $94.2 million was for the fourth quarter last year and not for the full year.
Do More, See More, Be More: Three Steps to Customer Service Excellence. 8-9:30 a.m. Women's Business Forum. With
Keith Fields, entertainer, motivational speaker, trainer. ITT Technical Institute, Troy. $11 Troy Chamber members, $21 nonmembers
. Contact: (248) 641-8151; email: theteam@troychamber.com; website: www.
The
Crain's 20 in their 20s class of 2013 was honored Wednesday night. Here are a few photos of the event at Buffalo Wild Wings in Detroit.
