This Week's Issue of Crain's Detroit Business
No, the iconic Little Caesars $5 Hot-N-Ready pizza isn't increasing in price to pay for superstar slugger Prince Fielder's new nine-year, $214 million contract with the Detroit Tigers. [FREE] | Page 1
Critics of an autism bill stalled in the Michigan Legislature for more than three years never have disputed data that show early intervention to treat autistic children could save taxpayers millions of dollars in future health care and educational costs. | Page 1
The upcoming three-week run of the Tony Award-winning Broadway musical "Fela!" could put Music Hall Center for the Performing Arts on the map for people who've never been to a production at the historic Detroit venue. [FREE] | Page 1
The Sterling Heights construction and building management company Roncelli Inc. is trying to remove itself from a family legal dispute. | Page 3
ECONOMIC DEVELOPMENT
Business Leaders for Michigan released an updated version of the group's Michigan Turnaround Plan last week, including a prescription to make Michigan a top 10 state when it comes to competing for businesses and residents. | Page 3
When Kyle Westberg saw the potential for the city of Pontiac six years ago, he moved his construction company's headquarters to the city from Troy. | Page 3
Rob Weisberg, chief marketing officer of Cambridge, Mass.-based Zipcar Inc., thinks Detroit is ready for some "disruptive innovation." | Page 4
The Detroit-Wayne County Port Authority wants legislative approval that would allow it to make inland infrastructure investments and change an environmental law so that oceangoing cargo ships would be able to load local exports here rather than in Toledo. | Page 4
Perhaps no problem is more common among second-stage businesses -- nor more bedeviling -- than finding capital to fund growth. | Page 5
Organizers of the 31st annual Michigan Growth Capital Symposium have opened up the application process for those hoping to become one of the 40 emerging companies to make pitches for funding at the Marriott Resort in Ypsilanti May 15-16. | Page 5
Dealer Steve Cook is still paying off the store renovations he made six years ago. | Page 6
Four medical groups have formed Michigan Healthcare Professionals PC, a Southfield-based multispecialty medical group with about 250 physicians, to contract with health insurers, develop joint business ventures and prepare for health care reform. | Page 7
Michigan companies have been at ground zero for some of the most tumultuous business events in this young century. How well have attorneys handled the challenge? Who are Michigan's best in-house attorneys and general counsels? [FREE] | Page 7
CFOs are often the unsung heroes of organizations' senior management teams. These leaders grapple with budget pressure and increased red tape and contribute to strategic planning in major ways. [FREE] | Page 9
FINANCE
The state plans to launch a new fund, the Pure Michigan Venture Match, to invest in early-stage technology companies. The Michigan Economic Development Corp. and Michigan Strategic Fund will hold a public hearing on the proposed fund Feb. 8.
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FINANCE EXTRA: BIG DEALS OF 2011
The local world of mergers and acquisitions isn't so local after all. The flat world of the early 21st century has definitely arrived in Southeast Michigan, with cross-border deals now almost routine.
FINANCE EXTRA: BIG DEALS OF 2011
It's not a surprise to investors in Arboretum Ventures LLC's first two funds that University of Michigan spinoffs are good places to invest. Nor is it a surprise to investors in other area firms that have invested in UM startups, including EDF Ventures and Avalon Investments, Gov. Rick Snyder's former company. | Page 11
FINANCE EXTRA: BIG DEALS OF 2011
The plastics mergers and acquisitions market cooled off in 2011 after a red-hot 2010, but the market still has plenty of momentum as it heads into 2012. | Page 13
FINANCE EXTRA: BIG DEALS OF 2011
Auto dealers can expect a broader array of repair-bay diagnostics and services from Bosch Group after the German company said last week it would purchase Warren-based SPX Service Solutions from SPX Corp. | Page 13
FINANCE EXTRA: BIG DEALS OF 2011
Apartment deals in Ann Arbor dominated the list of local real estate sales in 2011, taking three of the top five spots in the Crain's annual list of big real estate sales deals. | Page 19
Heather Paquette will become managing partner of the Detroit office of the accounting and consulting firm of KPMG LLP. | Page 1
Talk about Crazy Bread. Detroit Tigers fans are still basking in excitement over the promise that slugger Prince Fielder is coming to town under a nine-year, $214 million contract. | Page 8
My guess is that few if any of the elected members of the Detroit City Council are too happy about the changes that await them this fall. | Page 8
In law school, my business transactions professor said: "If you want to scare the hell out of your opponent, accuse him of being a fiduciary." [FREE] | Page 9
If the famed Joe Louis "fist" sculpture jutting out on Jefferson Avenue were to offer something to Detroit, what would it be? | Page 30
Business Diary items from the issue of Jan. 30, 2012. | Page 24
A week ago, Crain's Sherri Welch reported on crainsdetroit.com that the Sault Ste. Marie Tribe of Chippewa Indians planned to build a $245 million casino in downtown Lansing. Then came the numbers: A 125,000-square-foot Kewadin Lansing Casino, an estimated 1,500 permanent jobs, more than 700 construction jobs, up to 3,000 slot machines and 48 table games, assorted bars and restaurants, two parking decks with about 2,900 total spaces — and about $250 million a year in gross revenue, the tribe estimates. | Page 2
Bankruptcies from the issue of Jan. 30, 2012. | Page 6
Detroit-based Lakeshore TolTest Corp., an international general contractor, has named Jeff Miller the company's first CFO. | Page 23
People items from the issue of Jan. 30, 2012. | Page 23
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Calendar items from the Jan. 30, 2012, issue. | Page 24
Scott Case, founder of the travel website Priceline.com, will launch Startup Michigan on Tuesday at the annual Collaboration for Entrepreneurship event in Ann Arbor. Startup Michigan will be an affiliate of the Startup America Partnership, which provides would-be entrepreneurs access to service providers, mentors, funding sources and potential customers. It has eight regional affiliates now and will add 10 more Tuesday. Case is CEO of Startup America. | Page 30
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Tax credit added to autism bills