Who`s in control? Funds don`t have to be

Transcription

20130826-NEWS--1-NAT-CCI-CL_--
8/23/2013
3:46 PM
Page 1
$2.00/AUGUST 26 - SEPTEMBER 1, 2013
Vol. 34, No. 34
Who’s in
control?
Funds don’t
have to be
Private equity firms have
been making more frequent
investments in companies
that involve minority stakes
By MICHELLE PARK
mpark@crain.com
afayette Foster admits a fulltime job with benefits wasn’t
on his radar. Employers
weren’t exactly lining up to
hire an ex-convict, especially one
who had spent five years in federal
prison and whose lengthy rap sheet
boasts a host of serious charges, including drug and weapon offenses.
It’s a trend that portends greater access to an alternative source of capital for business owners: Private
equity firms are investing more frequently in companies without requiring a majority stake in — and control of — those businesses in return.
Steven S. Beckett sees the change. He’s a partner
with Peninsula Capital Partners LLC of Detroit, which
bought a minority stake in Fire-Dex LLC, a Medinabased maker of firefighting gear, in a recapitalization
announced in late July.
Mr. Beckett said Peninsula routinely has taken minority positions in companies since its founding in
1995. However, he knows of other firms that haven’t
done so before but now “are willing to consider doing minority investments.”
Many private equity funds raised money several
years ago but haven’t been able to deploy it fully because of the economic downturn, Mr. Beckett said.
Now, some of their committed capital is nearing the
time when it must be returned to investors if it isn’t
invested.
“I think many firms — because of the pressures to
get that money out — are out there broadening their
investment horizon,” Mr. Beckett said.
See REMARKABLE Page 8
See CONTROL Page 21
MCKINLEY WILEY
Lafayette Foster paints a home on Holyrood Avenue in Cleveland. Mr. Foster now has a full-time job for the Cleveland Housing Network.
TRANSFORMATIONS
ARE REMARKABLE
Cuyahoga County, Cleveland Foundation team
up with nonprofits for unique re-entry program
INSIDE
Rooms with a view
34
Nick
Catanzarite,
right, whose
family owns
Pat Catan’s
Craft Centers,
will lead the
makeover of a
historic building along the West
Shoreway into apartments. PAGE 3
L
Catan’s says splurge will pay off in end
Company pays $9.2 million for warehouse near headquarters
By STAN BULLARD
sbullard@crain.com
Mike Catan, CEO of Pat Catan’s
Craft Centers, acknowledges he
overpaid for a warehouse at 12850
Darice Parkway that sits about 50
feet
from
the
company’s
Strongsville headquarters and one
of its existing warehouses. But he
bit the bullet because the location
was right.
Mr. Catan (the name is short for
Catanzarite) said the supplier of
crafts and floral products chose that
route rather than spend at least
$200,000 annually in additional operating costs if the new warehouse
was in a different location. The company will be able to connect the newly purchased property with its existing warehouse and headquarters at
13000 Darice Parkway, he said.
The additional space was needed
7
Presented by:
NEWSPAPER
74470 83781
0
By TIMOTHY MAGAW
tmagaw@crain.com
thanks to increasing sales of its
Darice Inc. wholesale unit, which
provides crafts to “the Walmarts of
the world,” Mr. Catan said.
Through 12850 Darice Parkway
LLC, the family-owned company
on Aug. 15 paid $9.2 million for the
170,000-square-foot
property,
according to Cuyahoga County
land records.
See CATAN’S Page 7
S E P T 25
Register and learn more:
CrainsCleveland.com/HCSummit
8/23/2013
2:11 PM
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WHERE ABOVE AND BE YOND COMES STANDARD.
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8/23/2013
3:59 PM
Page 1
AUGUST 26 - SEPTEMBER 1, 2013
CRAIN’S CLEVELAND BUSINESS
WWW.CRAINSCLEVELAND.COM
3
INSIGHT
Local companies lining Pandora’s pockets
More area businesses are purchasing ads on Internet radio
service; younger streaming sites expected to target region
By CHUCK SODER
csoder@crain.com
Two weeks ago, Eric Hartup was
driving through upstate New York
with his brother when they heard an
advertisement touting half-price
wine every Tuesday at Houlihan’s
restaurant in Westlake.
His brother was amazed. To think,
one of the three Houlihan’s locations
Mr. Hartup helps run was just mentioned on Pandora — a national Internet radio service that is starting to
run a lot more local ads.
Houlihan’s of Cleveland, which
also owns restaurants in downtown
Cleveland and Strongsville, is one of
dozens of local companies that have
bought Pandora ads targeting listeners in Northeast Ohio, according to
Gabe Tartaglia, regional vice president for Pandora’s central sales region, based in Chicago.
The fast-growing Internet radio
service — which lets listeners create
custom radio stations based on music they like — has been ramping up
its effort to sell ads that target individual cities and zip codes. Hence,
Pandora in May opened an office in
Independence, where it employs
two sales representatives who focus
on selling local advertisements and
two who sell to national brands
throughout Ohio, Mr. Tartaglia said.
You can hear the results by tuning
in to Pandora, via the web or the
Pandora mobile app.
Akron-Canton Airport has been
encouraging listeners to “Fly Happy,” while KeyBank’s ads offer a free
Kindle Fire HD to anyone who puts a
direct deposit of $500 into a new
See PANDORA Page 21
WKNR
shakeup
is sign
of times
Northeast Ohio
media analyst says
sports radio ratings
fall when teams do
By KEVIN KLEPS
kkleps@crain.com
STAN BULLARD
Nick Catanzarite, a lawyer in the real estate unit of Walter Haverfield LLP, will lead the conversion of a former tool and die shop along Cleveland’s West
Shoreway to apartments in a $10 million-plus makeover.
IT’S A LOFTY NEW VIEW
Historic former tool and die
shop along West Shoreway
will become an apartment
building in $10M makeover
By STAN BULLARD
sbullard@crain.com
L
oft living will join with looks
at the lakefront as a former
tool and die shop along
Cleveland’s West Shoreway
is converted to apartments in a $10
million-plus makeover.
The property at 1260 West 76th
Street is next to a recently upgraded
pedestrian tunnel connecting West
76th to the beach at Edgewater Park.
Construction is under way on the
project, which involves a partnership that includes the building’s
owner, the Catanzarite family — the
See VIEW Page 22
THE WEEK IN QUOTES
“They don’t want
to lose their edge.
But they’re doing
it. There is so much
money to be put to
work that they
can’t find enough
homes for it.”
— Floyd A. Trouten, equity
director in transaction
advisory services and tax,
SS&G Inc. Page One
“Five years ago you
could jump in the car
and find 300,000
square feet or 500,000
square feet available.
Now it looks like a
shortage. This was a
no-brainer and we’re
glad to have it.”
— Mike Catan, president of
Pat Catan’s Craft Centers.
Page One
“Airmall has had since
2008 to deliver an
above-average level of
sales-per-enplanement at
Cleveland. Instead, by
2011 … Airmall generated
only $7.31 sales-perenplanement, which,
again, fell in the bottom
20th percentile.”
— From a Letter to the Editor.
Page 4
“As our large-scale
investments continue
to come online and
our residential market
continues to explode,
more amenities and a
variety of restaurants
are opening.”
— Gina Morris, director of
marketing and public relations,
Downtown Cleveland Alliance.
Page 9
Is there room for two all-sportstalk radio stations in Cleveland?
John Gorman isn’t so sure.
Mr. Gorman, owner of broadcast
consulting firm Gorman Media and
a 2000 inductee into the Ohio RadioTelevision Broadcasters Hall of
Fame, has followed the recent turmoil at WKNR-AM, 850, and monitors the performance of its top competitor, WKRK-FM, 92.3.
Last Tuesday, Aug. 20, WKNR, an
ESPN Radio affiliate owned by Good
Karma Broadcasting of Beaver Dam,
Wis., fired four prominent on-air
personalities — Will Burge, Michael
Reghi, Kenny Roda and T.J. Zuppe.
The following day, the station unveiled a slimmed-down lineup of local programming. Instead of featuring almost all local programming
from 4 a.m. to midnight, WKNR
eliminated a pair of local nighttime
shows that accounted for four to six
hours of airtime per day.
WKRK — a CBS Radio affiliate that
debuted as The Fan on Aug. 29, 2011
— has retained a beefed-up local
lineup, but, according to industry
sources, isn’t pulling big audience
numbers.
“The problem is there are two
sports stations,” Mr. Gorman said.
“Neither one is doing great in the
ratings right now. That’s not necessarily because of the material.
See WKNR Page 19
ON THE WEB: For more
on WKNR firing four of its
top on-air personalities,
read Kevin Kleps’ blog at:
www.crainscleveland.com
4
8/23/2013
2:18 PM
Page 1
PUBLISHER/EDITORIAL DIRECTOR:
Brian D. Tucker (btucker@crain.com)
ASSOCIATE PUBLISHER/EDITORIAL:
John Campanelli jcampanelli@crain.com)
EDITOR:
Mark Dodosh (mdodosh@crain.com)
MANAGING EDITOR:
Scott Suttell (ssuttell@crain.com)
OPINION
Get movin’
R
epublican lawmakers in Columbus are running out of excuses for why they shouldn’t
proceed with an expansion of the state’s
Medicaid program, as advocated by their
party leader, Gov. John Kasich.
Their intransigence looks particularly ill-advised
in light of a study presented to the Senate Medicaid
Finance Subcommittee that indicates the cost to extend Medicaid to more of Ohio’s poor while capping
its annual growth would be less than to leave the
program as is.
The Ohio Medicaid Expansion Study isn’t leftleaning propaganda. The Health Policy Institute of
Ohio and Ohio State University’s John Glenn School
of Public Affairs produced the analysis at the request of Sen. Dave Burke, R-Marysville, who chairs
the Medicaid subcommittee, and Sen. Capri Cafaro,
D-Hubbard, its ranking minority member.
The projections found in the study support the
proposal Gov. Kasich presented way back in February to extend Medicaid eligibility to those who make
up to 138% of the federal poverty level.
According to the study, total Medicaid spending
without expanding the program is expected to reach
$43.4 billion by the state’s 2025 fiscal year if growth
in the program’s cost continues at the current rate
of 7.2% per year. By contrast, the study projects that
if program eligibility is expanded and Medicaid enrollment rises by 1% a year, total Medicaid spending
will hit $39.5 billion by fiscal 2025 provided the state
caps Medicaid spending increases at 4% a year.
That’s a difference in fiscal 2025 of nearly $4 billion in favor of program expansion. And the study
projects a favorable difference in spending each
year along the way.
Gov. Kasich has taken the pragmatic view that if
the federal government is willing under President
Barack Obama’s Affordable Care Act to pay all the
costs of expanding the program for three years and
to cover 90% of the costs thereafter, Ohio shouldn’t
leave that money on the table.
But even if the feds eventually renege on that
promise — as some Republican legislators say they
fear in justifying their opposition to the governor’s
proposal — the study maintains the state still would
be ahead of the game if it expanded Medicaid eligibility but kept a cap on the annual spending growth rate.
Under the current cost-sharing arrangement
whereby the federal government pays 60% of Medicaid costs, the study projects the state’s share of the
Medicaid obligation would reach $17.4 billion in fiscal 2025 if program eligibility wasn’t expanded but
spending kept growing at a 7.2% annual rate. Using
that same 60-40 ratio, the state’s obligation if the
program was expanded but annual growth in Medicaid spending was capped at 4% would be $15.8
billion in fiscal 2025, the study projects.
Rep. Burke told The Columbus Dispatch the study
is “the first fact-based analysis by any party that has
shown you can lower costs, both federal and state, if
you craft the right policy to get there.” That’s a Republican speaking there. We’d urge his cohorts to
stop dragging their feet and to move forward legislation to expand the Medicaid program.
FROM THE PUBLISHER
Media picture yet to come into focus
strong year. Ad sales are up, our events
ew days pass without someone
have grown and our digital newsletters
asking some form of the followhave become part of the regular routines
ing question: “What do The Plain
of thousands of business owners
Dealer’s changes mean
and executives. But that has been
to you?”
BRIAN
the trend since early in the year,
I know that by “you” they TUCKER
and it has little to do with anymean Crain’s Cleveland Busithing that’s happening at The PD.
ness, and the reality is that, like
But the “you” that I relate to
the owners of The PD, we don’t
best in the above question is
know. These are uncharted wamyself and how, as a journalist
ters for all print media, and
and concerned citizen, I fear for
we’re all doing what we think is
the changes at the region’s
best for our products, and our
largest daily newspaper, and all
customers.
daily newspapers. The PD’s
The fact is that Crain’s has been the
news staff is a shadow of its former self,
stronger player in local business news
and that means the paper cannot report
for a while, because that’s what we speon as many topics and areas.
cialize in. As the daily newspaper has
As for that annoying “I’ll just go find it
been forced to cut staff, its executives
on the web for free from some other
have had to make hard choices about
source” mantra, well, all I can say is that
what coverage serves their largest audithe source for that news is generally The
ence. Part of that decision-making has
Associated Press, my former employer.
been to stop home delivery three days a
And without robust newspapers, the
week. On those days, The PD publishes a
AP’s news report suffers. We simply are
drastically slimmed-down version, but
not going to know as much about what’s
only sells it at scattered retail locations
around its coverage area.
happening in the state, the country and
Our newspaper has been enjoying a
the world. It’s the new reality, and it por-
F
tends nothing good for our society when
the watchdog has been muzzled.
*****
Speaking of newspapers, I found this
headline — “Counties reap shale sales,
but job growth still lags” — and the accompanying story from The Columbus
Dispatch a little weird.
The reason for the story was that while
sales tax receipts were up by 20% in 15
shale-intense counties in eastern Ohio,
job growth “has not yet proved to be a
jobs bonanza.” Employment in those
counties was only up 0.6% in 2012.
The data came from Cleveland State’s
excellent shale team at the Levin College
of Urban Affairs, several of whom are
bloggers for our weekly energy newsletter.
But as Levin’s dean, Ned Hill, has been
telling folks for months, this energy play
will be slow to develop as the exploration
companies find the best-producing areas.
“It doesn’t mean we’ve missed the
boat,” Ned has said. “It means the boat
has not yet pulled up to the dock.”
I wish reporters would keep all that in
mind when they choose an angle for a
story.
■
LETTERS TO THE EDITOR
Airmall’s issue is per-passenger spending
I
was happy to see Crain’s Cleveland
Business cover the story of Airmall’s
performance at Cleveland Hopkins
International Airport in a July 29,
page 4 article, “Union-backed group criticizes Airmall’s work.”
However, in challenging The Airport
Group’s motive for conducting its research, Crain’s did not adequately address the real issue: the harm of Airmall’s
underperformance in per-passenger
spending to the city of Cleveland.
The article correctly notes that Airmall’s per-enplanement spend at Cleveland for 2011 fell in the bottom 20th percentile of all medium and large hub U.S.
airports that reported data to Airport
Revenue News. It then mentions that
sales-per-enplanement has improved
since Airmall took over.
WRITE TO US
Send your letters to: Mark Dodosh,
editor, Crain’s Cleveland Business, 700 W. St.
Clair Ave., Suite 310, Cleveland, OH 441131230; Email: editor@crainscleveland.com
But the article does not mention that
there has been improvement in salesper-enplanement at many airports.
Forty out of 52 medium and large hub
U.S. airports that provided data to Airport Revenue News reported improvement in one-year periods.
Airmall has had since 2008 to deliver
an above-average level of sales-per-enplanement at Cleveland. Instead, by
2011 (the most recent year for which
data is available), Airmall generated only
$7.31 sales-per-enplanement, which,
again, fell in the bottom 20th percentile.
More significantly, the article omits
any mention of Airmall’s most recent attempt to reduce its rent obligations to
the city on a long-term basis.
In a letter dated Oct. 12, 2012, Airmall
asked the city of Cleveland to reduce its
long-term minimum rent obligation by
tying rent to actual enplanement levels,
which would have reduced Airmall’s rent
from $4.5 million to $3.43 million according the enplanement trends at the
time the letter was written.
In a response letter to Airmall, airport
director Ricky Smith noted that the rent
reductions granted by the city in 2010
and 2011 were “difficult to absorb without passing on additional cost to CLE’s
signatory carriers,” and the city would
not grant long-term relief at that time.
See LETTERS Page 6
8/23/2013
2:15 PM
Page 1
COMING NEXT WEEK
CHEAP RIDES
The aftermath
of the deal
Ohio is one of the least expensive states in which to operate a motor vehicle,
at $2,810 per year, about 12% lower than the national average of $3,201, a
new report found. The report accounted for the costs of gasoline, insurance,
repairs, taxes and fees in each state. Here’s a look at the data from the three
most expensive states, the three least expensive states, and Ohio:
Estimated annual cost of car ownership
Rank, State
Repairs Taxes/fees
Gasoline Insurance
Total
1. Georgia
$385
$1,952
$1,129
$767
$4,233
Once an owner sells his or
her business and the cash
has been transferred,
what’s next? In next week’s
Dealmaker section, Crain’s
talks with entrepreneurs
who have navigated the
transition.
REGULAR FEATURES
Classified ....................22
Editorial ........................4
From the Publisher ........4
Going Places ...............10
Letters ..........................4
Reporters’ Notebook....23
The Week ....................23
What’s New..................23
2. California
$390
$1,809
$980
$786
$3,965
3. Wyoming
$324
$1,341
$1,643
$630
$3,938
41. Ohio
$328
$879
$975
$627
$2,809
48. South Dakota $312
$415
$1,092
$524
$2,343
49. Alaska
$341
$202
$771
$914
$2,228
50. Oregon
$380
$157
$942
$724
$2,203
Average
$353
$1,058
$1,028
$762
$3,201
■ Source: Bankrate.com
700 W. St. Clair Ave., Suite 310,
Cleveland, OH 44113-1230
Phone: (216) 522-1383
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THEIR STORY INVOLVES INK,
EMBROIDERY AND THE OCCASIONAL
HEAVY METAL BAND.
WHAT’S YOURS?
Whether you’re a law firm, a heavy metal band or a local team, Cleveland’s Jakprints can
print something that will make your organization look incredible. From adopting the very
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biodegradable products, Jakprints has remained at the forefront of their industry and
never stopped being curious.
At Fifth Third Bank, we’ve stayed curious right along with them, listening, understanding
their business and helping them find new ways to make their customers look good.
Learn more about Jakprints’ curious business and share your own story at
53.com/curiosityatwork.
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5
6
8/23/2013
3:47 PM
Page 1
City’s suit against workers’
comp bureau could set tone
AVAILABLE PROPERTIES
Attorney dealing with private employers’
claim believes other public bodies could
follow; state will respond next month
6521 Davis Industrial Parkway is a free
standing, single-tenant flex building of 21,600
sf with 2 docks. Currently under renovation.
The whole building is for lease or sale.
5821 Harper Road, Solon is a 66,638 sf
multi-tenant property with 3 vacant suites
of 5,901 sf, 9,600 sf and 12,000 sf.
The whole building is for lease or sale.
By JAY MILLER
jmiller@crain.com
Visit
TerryCoyne.com
Or Call Terry at
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Cleveland, Ohio 44115
In the wake of a successful class
action by private employers, the city
of Cleveland has filed a “me-too”
lawsuit against the Ohio Bureau of
Workers’ Compensation that claims
it was overcharged for insurance
premiums. And an attorney involved
in the private employers’ lawsuit
suspects more public bodies may
follow Cleveland’s lead.
In its complaint, the city contends
the bureau was undercharging public employers that could qualify for a
group rating plan. At the same time,
the lawsuit maintains, public entities
such as Cleveland that did not qualify for group rating were paying unjustifiably high workers’ compensation insurance premiums.
The city filed the lawsuit in Cuya-
Tri-C® applauds Judi
for being named
as a finalist for Crain’s
Cleveland Business
HR Executive of
the Year.
Tri-C applauds all the honorees of the
Crain’s HR Leaders Program.
At Tri-C, our students and employees represent the community in which we
live, work and educate. We are devoted to having a culture of well represented
lifestyles, backgrounds and beliefs, as well as developing the
expansion of appreciation due to diversity of thought.
hoga County Common Pleas Court
June 28. The case is assigned to
Judge Carolyn Friedland. The lawsuit asks the court to order the bureau to repay an unspecified
amount of excessive premiums
paid.
Because the workers’ comp bureau is financed by employers’ insurance premiums, it could be
forced either to raise insurance premium rates or dip into its reserves
should it be asked to repay premium overpayments.
City spokeswoman Maureen
Harper said Cleveland’s case “is
based on a ruling in a similar case, a
suit involving private employers
that found private non-group rated
employers were also historically
overcharged for premiums.”
In an email, Bureau of Workers’
Compensation
spokeswoman
Melissa Vince said, “BWC is aware
of the lawsuit and will be filing a response in mid September.”
Last March, Cuyahoga County
Common Pleas Judge Richard McMonagle awarded a group of more
than 270,000 Ohio private employers $859 million because, he ruled,
the bureau charged excessively high
premiums to the employers over an
eight-year period.
Attorneys for the suing employers
in that case, known as San Allen v.
The Ohio Bureau of Workers’ Compensation, claimed private-sector
employers that did not qualify for
membership in insurance-buying
groups subsidized discounts of as
much as 90% to employers that
could join them.
After the San Allen lawsuit was
filed in 2007 and, the bureau said, in
response to a consultant’s study
that found recipients’ claims experience did not justify the highest
discounts, the bureau changed its
premium structure to reduce the
discount to group-rated employers.
At the time of the San Allen ruling
by Judge McMonagle, the bureau issued a statement that it believed its
actions were lawful and that no
restitution was warranted. The bureau has appealed the judge’s decision to the Ohio Eighth District
Court of Appeals.
Stuart Garson, one of the San
Allen group’s attorneys, speculated
last week that other cities might follow Cleveland’s lead.
“I would not be surprised to see a
class action filed somewhere in
Ohio against the bureau — totally
on our theory and completely using
the judgment (by Judge McMonagle) and our arguments — for public employers, which would be municipalities and school systems,”
Mr. Garson said.
■
Letters: Program needs
to maximize revenue
continued from PAGE 4
In other words: The less rent
money the city receives from Airmall, the harder it is for the airport
to keep its airline fees competitive
with other airports. A successful
concessions program is not trivial to
the success of the airport as a whole.
The people of Cleveland deserve
to know if Airmall asks again for rent
relief. And the city of Cleveland deserves a concessions program that
maximizes revenue for the airport.
The Airport Group report highlights real underperformance with
respect to per-passenger spending
with Airmall’s program at Hopkins.
Now that Crain’s has published a
piece speculating about the intentions of the report’s authors, I hope
that the paper will take the time and
effort to explore the report’s content.
Ian Mikusko
Research analyst, The Airport
Group
Unite Here
Where’s the outrage?
I’m curious. Where is the Agenda
21 crowd — the folks that think
there is a global sustainability conspiracy and that the government is
going to (horror!) force people to
ride public transit — around the
Opportunity Corridor?
After all, this project, it might be
said, represents the height of government tyranny: The state of Ohio
is planning to actually seize and
forcibly move some 60 families
from their homes, their sacred private property!
This seems like exactly the kind of
thing Agenda 21 conspiracy theorists fear so much, and yet, curiously, they are silent about this scandalous government usurping of
private property rights when it is
happening right now in their very
community. How strange.
It’s almost as if this group is OK
with extraordinary government interventions in the realms of land
use and transportation provided the
folks negatively impacted are oppressed minority groups and the interventions serve their interests.
But, nah.
Angie Schmitt
Cleveland
We have an inclusive environment by which everyone is a valued representative of
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■ Crain’s on Twitter: @CrainsCleveland
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www.tri-c.edu
8/23/2013
3:42 PM
Page 1
7
Cosmetics maker buys Taylor Chair’s former home
Art of Beauty to move from Bedford Heights; plans to add 45 jobs
By STAN BULLARD
sbullard@crain.com
Art of Beauty Inc. plans to set up
shop in the empty home of the former
Taylor Chair Co. in Bedford after an
affiliate of the fingernail polish and
cosmetics producer bought the
building in a court-controlled liquidation of the office furniture maker.
Art of Beauty makes and distributes Zoya Nail Polish and other
brands, which it sells online and
to hair salon and spa operators,
according to its website. Through
Independence Court Realty LLC, Art
of Beauty paid $2.3 million for the
70,000-square-foot building on 12
acres at 1 Taylor Parkway, according
to Cuyahoga County land records.
Cuyahoga County Common Pleas
Judge John O’Donnell approved the
sale Aug. 7. The Ohio Development
Services Agency stands to receive
most of the net proceeds from the
sale of the office, factory and warehouse that dates from 2006. Taylor
Chair built the complex with the aid
of a state loan.
Art of Beauty said in a press release
on its website that it plans to add 45
jobs at the new property. However,
Michael Reyzis, who founded the
business with his cosmetologisttrained wife, Zoya, in 1986, declined
to talk about the company or its
plans for the building in a phone
call Aug. 21 with Crain’s Cleveland
Business.
Art of Beauty began with a nail
salon and spa that expanded as
Mr. Reyzis, a chemist, developed
products such as a fast-drying nail
polish, shampoos and similar items,
according to the website. The company is in a multitenant industrial
complex in Bedford Heights four
miles from what will be its new
location.
The sale is welcome news to
Henry “Hank” Angelo, Bedford city
manager.
“We’re elated,” Mr. Angelo said.
He said it is his understanding the
company wanted the Taylor Chair
real estate because it includes land
on which to expand.
Mr. Angelo said the city still is
negotiating an incentive package
with Art of Beauty.
Joseph Martanovic, head of
Ostendorf-Morris Co.’s industrial
real estate group, called the deal
a “fantastic transaction for the
buyer.”
“They got a new building on a lot
of acreage in a good area,” Mr.
Martanovic said. “When you buy a
building, you want the ability to
expand, and this has that.”
However, the sale is not so sweet
for the state of Ohio. As part of the
much-vaunted Taylor Chair project
in an industrial park that reclaimed
a brownfield, the state provided a
$4.6 million loan in 2006, according
to county land records.
Taylor Chair, founded in 1816,
transformed itself through the years
from the consumer market to
become a supplier of office chairs
and related products before succumbing to poor business conditions in June 2012. Youngstownbased Gasser Chair Co. bought
Taylor Chair’s intellectual property
last September to use it to enter the
office furnishings market.
Jeffrey Baldassari, Taylor Chair’s
last CEO, termed the company a
victim of the lingering 2008 recession.
He said via email that Art of Beauty
has a “first-class facility” that will
serve it well for many years.
■
More than 400 people attended the 2013 Crain’s HR Leaders awards
Catan’s: Big
need drove
high-priced
purchase
at the InterContinental Hotel. The event honored Northeast Ohio
innovators in the human resources field, including Lifetime
Achievement Award Winner Debra Lyons. Crain’s and Howard &
O’Brien Executive Search hosted the Aug. 13 award ceremony.
1.
2.
Presented by:
The seller was Hackman Capital, a
real estate investment and management firm in Los Angeles.
Through a joint venture with
Square Mile Capital Management of
New York, Hackman bought the
building, along with 15 others in
Northeast Ohio and eight in other
parts of Ohio, earlier this summer
from an affiliate of the California
State Teachers’ Retirement System.
Asked why Hackman sold the
warehouse, Terry Coyne, executive
managing director of Newmark
Grubb Knight Frank’s Cleveland
office who represented the Los
Angeles firm in the transaction, said,
“They’re in business to make money.
They got paid well.”
Mr. Coyne said the price Darice
paid works out to $54 a square foot
— the highest sale price on a squarefoot basis for a partially empty building
he ever has handled as an industrial
real estate broker in Cleveland.
Part of the building is occupied
with rental tenants, but Pat Catan’s
immediately will gain 100,000 square
feet of warehouse space with the
deal. The company plans to convert
a 6,000-square-foot office in the
building into a daycare center for
children of employees; it didn’t have
one previously, Mr. Catan said.
Mr. Catan said he looked
in several suburbs for more space
before settling on the neighboring
building.
“Five years ago you could jump in
the car and find 300,000 square feet
or 500,000 square feet available,” Mr.
Catan said. “Now it looks like a
shortage. This was a no-brainer and
we’re glad to have it.”
While the industrial vacancy rate
in Northeast Ohio is estimated at
10%, a recent study by the city of
Strongsville found a vacancy rate of
5% among its industrial buildings,
said Brent Painter, its economic
development director. He said Pat
Catan’s is the southwest suburb’s
fifth-largest employer, with about
450 employees.
■
3.
4.
4. Lee Ann Howard,
Lifetime Achievement
Award winner Debra
Lyons, and Brian Tucker
5. Janet Rohlik, Kate
Bang, Honoree Latoya
Smith, and Shirley
Hunter.
5.
1. Honoree Carla
Fitzpatrick, Honoree Diane
Giorgi, Alex Felden and
Honoree Nicolette Kynkor
2. John O’Brien, President,
Howard & O’Brien Executive
Search welcomed attendees
3. Jennifer Bell, Honoree
Kate Lawrence, and
Brian Tucker.
THANK YOU
To our sponsors
Premier Sponsor:
Co-Presented by:
Panel Sponsors:
Networking
g Sponsor:
p
Video Sponsor:
Display Sponsor:
In partnership with:
V CrainsCleveland.com/HRLeaders coverage to read live tweets from the event,
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view
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8
8/23/2013
2:15 PM
Page 1
4478 Johnston Parkway, Cleveland
•
•
•
•
13,090 Total SF
9,090 SF Industrial
4,000 SF Office
Built in 2000
4 Acres
•
•
•
•
•
Multi-Tenant
6 Drive-In Doors
208A/80V/3 Phase
12’ - 18’ Ceiling Height
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AVAILABLE FOR SALE
FOR MORE INFORMATION, CONTACT:
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216-861-7200
www.ostendorf-morris.com
Remarkable: County’s objective is
getting prisoners back to work — fast
But for the last month, the 34year-old father of three has woken
up each day thankful for his full-time
job rehabbing properties for the
Cleveland Housing Network. It’s a
job he said he couldn’t have landed
if it weren’t for a new program taking
root in Cuyahoga County that is designed to help people such as Mr.
Foster overcome their troubled
pasts.
“It hasn’t sunk in,” Mr. Foster
said. “It’s overwhelming that I actually attained a position in life like
this. I have a benefits package, everything that goes with an actual career.
I could retire from this company.”
Re-entry programs aren’t new,
particularly in Cuyahoga County,
but the program that made Mr. Foster’s newfound career possible puts
a different spin on the concept. In-
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“This is a work force that can be worked with. If you get
the right individual, they could be better employees
than what you might find through more traditional job
searches.”
– Mary Kelley, programmatic services coordinator, Cuyahoga County’s
Office of Reentry
stead of throwing money repeatedly at existing work force development programs, Cuyahoga County
and the Cleveland Foundation provided money to a handful of local
nonprofits to start their own forprofit businesses.
In all, the county, the Cleveland
Foundation and the three participating nonprofits have pumped
about $1.45 million in total into the
program.
The idea is to create a cadre of
sustainable businesses — or social
enterprises, as they’re dubbed —
that can produce a steady stream of
revenue to fund training and job
placement programs and actual
new jobs for those individuals with
felony convictions. So far, the socalled Transformation Enterprises
program has helped three local
nonprofits launch businesses, including a food prep kitchen, a salon
and a home renovation business.
Mr. Foster got his start with Expert Reclaim, the renovation business launched in the spring of 2012
by Career Development and Placement Services, a Cleveland-based
nonprofit. Since its launch, 32 individuals have “graduated” from the
Expert Reclaim program, and 19
have found full-time work.
“The transformation in most cases is awesome,” said Expert Reclaim
president Maurice Stevens. “A lot of
times when they come, their spirit is
almost broken. The biggest change
I’ve seen in the guys is they seem to
be motivated and more self-assured
of themselves.”
Staying back on track
Between 5,000 and 7,000 individuals return to Cuyahoga County
each year from Ohio’s prisons, but
not all transition easily back into
society, according to the county’s
Office of Reentry. About 70% of all
recidivism occurs within the first
year of release of prison — a reason
the Transformation Enterprises advocates are so intent on quickly
getting these individuals back to
work.
“This is a work force that can be
worked with,” said Mary Kelley,
programmatic services coordinator
for the Office of Reentry. “If you get
the right individual, they could be
better employees than what you
might find through more traditional job searches.”
Through the various businesses,
the participants are able to earn a
living wage while acquiring new
skills — and in some cases, industry
certifications. The participants also
undergo soft-skills training, which
Ms. Kelley described as teaching the
individuals how to handle themselves during an interview or on a
job site, how to write resumes or apply for jobs online.
“A lot of people are grateful for
being given a second chance,” she
said. “A lot are motivated to prove
to employers they are worth that
and can show up and be a good employee. They want to change their
past behavior and be a productive
citizen.”
Just east of downtown Cleveland,
at the intersection of East 45th
Street and Superior Avenue, Lutheran
Metropolitan
Ministries
launched its Central Kitchen, in the
heart of the human services organization’s new 40,000-square-foot
headquarters. The kitchen prepares
food for area homeless shelters, but
it also gives its workers — all of
whom have criminal backgrounds
— a six-month crash course on the
food services industry.
“What we do for them is truthfully give them a life skill. Everybody
has to eat,” said Matt Barnes, Central Kitchen’s head chef. “This is a
life skill that they can take with
them no matter what they do.”
‘Life-changing’ opportunities
Social enterprises such as the
burgeoning Central Kitchen or Expert Reclaim program aren’t a new
phenomenon, but Ms. Kelley said
they are the first of their kind in
Cuyahoga County. Others across
the country include Homeboy Industries, a Los Angeles-based youth
outreach program that launched a
series of small businesses, including
a café and bakery, to provide
employment for hard-to-place individuals.
While Cuyahoga County’s involvement with the social enterprise concept is relatively new, the
program’s advocates already see the
potential for expansion. As long as
the businesses remain profitable,
they’ll be able to carry on their missions of providing training and work
for those returning from prison.
“I think we feel pretty good overall with where we are,” said Bob
Eckardt, senior vice president for
the Cleveland Foundation. “Businesses are launching, and you’re
beginning to see real people being
served. I think the jury’s still out in
the long run, but we’re certainly not
discouraged. People are searching
for a solution to this challenge.”
The latest business to open its
doors is Signature Style, a salon nestled near the intersection of Mayfield and South Green roads in
South Euclid. The salon — in conjunction with Verge Inc., another local work force development nonprofit — trains participants to be
licensed hair stylists, massage therapists and manicurists.
Verge president Shaun Woods expects the salon to churn out a number of individuals looking to launch
their own enterprises.
“The issue a lot of times with (reentry) programming is it doesn’t set
up the individuals for long-term
success,” Mr. Woods said. “They get
the same jobs they’d get without
your help.
“This social enterprise creates a
unique opportunity because these
people have the opportunity to earn
a real serious, life-changing wage or
own their salon or barbershop,” he
said.
■
8/22/2013
3:56 PM
Page 1
Why do financially troubled
companies turn to us?
Results
Shawn M. Riley
Co-Chair, National Business Restructuring
and Bankruptcy Practice
216.348.5773
sriley@mcdonaldhopkins.com
McDonald Hopkins LLC
600 Superior Avenue East, Suite 2100, Cleveland, OH 44114 • 216.348.5400
STAN BULLARD
The Aloft Hotel features the w xyz bar, which is one of four restaurants that have opened as part of the first phase of the
development of the East Bank of the Flats.
Downtown Cleveland is
becoming diners’ delight
R
estaurants come and go,
but continued growth in
downtown Cleveland’s residential and office markets
suggests the urban core has the appetite to support a recent healthy
net gain of retailers and eateries.
According to Downtown Cleveland Alliance, 48 retail stores have
opened in the last 18 months, with
36 being restaurants. The market
this year alone will see a net gain of
23 shops and dining establishments
once
Driftwood
Restaurant
Group’s Cibreo Italian Kitchen and
Rothschild Farms open later this
year at PlayhouseSquare. Another
22 retail shops and eateries are
planned through 2014.
“Downtown Cleveland has been
a dining destination, with internationally acclaimed restaurants attracting tourists and locals,” said
Gina Morris, director of marketing
and public relations for Downtown
Cleveland Alliance. “As our largescale investments continue to come
online and our residential market
continues to explode, more amenities and a variety of restaurants are
opening.”
The mix includes more fast-casual, national chain restaurants, including Chipotle, Potbelly Sandwich Shop and Au Bon Pain, as well
as esteemed locally owned opera-
KATHYAMESCARR
WHAT’S COOKING
tions, such as the aforementioned
Scott Kuhn’s Driftwood Restaurant
concepts, Barroco Grill in Cleveland’s Warehouse District, and Red
the Steakhouse, on Prospect Avenue near East Fourth Street.
Those new establishments aim to
fulfill market demand, as downtown’s office population of 120,000
continues to grow steadily, and its
residential population base surges,
up 32% to 12,000 at present from
about 9,100 in 2010.
These three downtown pockets
particularly are bolstering their dining options:
■ Flats East Bank: Four restaurants — Lago, Willeyville, Ken
Stewart’s and w xyz bar at the Aloft
Hotel — have opened as part of the
development’s first phase. Another
seven, including Flip Side, Toby
Keith’s I Love This Bar and Grill
and Big Bang Dueling Piano Bar,
ON THE WEB Read Kathy
Ames Carr’s What’s
Cooking blog at:
are slated for the $133 million second phase, which is scheduled to
break ground this fall.
■ NineTwelve District: Over the
last two and a half years, downtown
Cleveland has attracted more than
5,500 new jobs from 60 different
companies, with about half those
jobs
concentrated
in
the
NineTwelve District, Ms. Morris
said. Its office occupancy in the second quarter rose 2.4%, with
AmTrust Financial’s relocation and
National General Insurance’s move
to 800 Superior Ave. adding about
1,000 jobs to the district. Restaurant
openings in that district include
Table 9 and Walk in the Park Café,
both located within Ohio Savings
Bank on East Ninth Street, and
Winks inside the Galleria.
■ PlayhouseSquare: The theater
district’s planned $16 million transformation campaign, along with its
burgeoning office and residential
market, is a beacon for quality establishments, with the addition of
Zack Bruell’s Cowell & Hubbard in
2012 and his Dynomite! burger
stand this year.
■
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AIR CHARTER SERVICE
AIRCRAFT MANAGEMENT
Cleveland Orchestra names Barlament its general manager
Jennifer Barlament, executive director
ON THE WEB Story from orchestra's chief administrator, with
of the Kalamazoo Symphony Orchestra
www.crainscleveland.com responsibility for board relations,
since 2009, has been named general
fundraising, marketing, concert planning
manager of The Cleveland Orchestra.
and operations, finances and education, according to a
She replaces Gary Ginstling, who was named CEO of
Cleveland Orchestra news release.
the Indianapolis Symphony Orchestra effective last March
From 2002 to 2009, she served as general manager
18.
of the Omaha Symphony. She also has held executive
Ms. Barlament “comes to Northeast Ohio with more
roles with the Detroit Symphony Orchestra and the Baltithan 10 years of experience as a highly successful ormore Symphony Orchestra.
chestra executive,” said Gary Hanson, executive director
Ms. Barlament was the 2013 recipient of the
of the Cleveland Orchestra, in a statement. He said her
Orchestra League's Helen M. Thompson Award for
“strong musical background and record of achievement
extraordinary achievement and commitment in the field
are among the terrific portfolio of skills and talent she will
of orchestra management.
bring to us.”
She starts her job in Cleveland on Sept. 23.
— Scott Suttell
With the Kalamazoo Symphony, Ms. Barlament was the
Cleveland’s Premier Air Charter Service
Serving Northeast Ohio with four Beechjets and a Hawker
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9
20130826-NEWS--10-NAT-CCI-CL_--
10
8/22/2013
2:50 PM
Page 1
GOING PLACES
JOB CHANGES
CONSULTING
SEDLAK MANAGEMENT
CONSULTANTS: Steve Simco to
practice director, health care
services.
Lane
Kocarek
Franz
Havener
Bromelmeier
Uhlir
Wieber
Truax
FINANCIAL SERVICE
Campbell
Richmond
Gale
Frohwerk
Crader
McHenry
Palmer
Blume
BEACON FINANCIAL PARTNERS:
Peter Franz to co-chief investment
officer.
associate, assurance; Sean Coffey
to associate, IT.
Russ
Chernock III
EDUCATION
KENT STATE UNIVERSITY: Center
for Corporate and Professional
Development — Amy Lane to
associate vice president, corporate
and professional development and
Corianne Kocarek to program
manager.
CBIZ INC.: Erica Belletti to senior
financial analyst; Nico Lindsey to
applications developer II; Tyler
Darnell to applications developers I.
SS&G HEALTHCARE: Kimberly
Brady and Anita Sherman to billing
specialists.
FAIRPORT ASSET MANAGEMENT:
Janet Havener to director, wealth
advisory services.
HOSPITALITY
MIRAE ASSET GLOBAL
INVESTMENTS: John Whitaker
to regional vice president, emerging
market specialist.
SS&G: Cristina Beacham to senior
HARD ROCK CLEVELAND: Dennis
Fischer to general manager.
INSURANCE
MEDICAL MUTUAL: Mary Anne
Bromelmeier to system
development and maintenance
manager; John Uhlir to vice
president, IT infrastructure and
operations.
LEGAL
FAUVER, KEYSE-WALKER &
DONOVAN LPA: Brett D. Wieber
to president.
WICKENS, HERZER, PANZA,
COOK & BATISTA CO.: Philip
J. Truax to associate.
MANUFACTURING
MOEN INC.: Kevin Campbell
to vice president and general
manager, Commercial Business Unit.
MARKETING
COREELEMENT: Anthony N.
Russo to marketing strategist.
INNIS MAGGIORE: Marty
Richmond to public relations
director.
MELAMED RILEY: Adam Gale to
community manager.
STUDIOTHINK: Steve Taylor to
senior writer; Eleanore Hilow to
account coordinator; Megan
Confer to public relations associate;
Pete Honsberger to culture
development coordinator.
PROFESSIONAL PLACEMENT
SERVICES: Sandra Christopher to
sales manaager; Brad Rosenthal and
Matthew Kimberley to recruiters.
TECHNOLOGY
THUNDER::TECH: Steve Frohwerk
to account manager; Dave Crader
to optimization specialist.
MCPC INC.: Mike Russ to rotational
desktop technician; William
Chernock III to project management
office director.
NONPROFIT
BOARDS
CASE ALUMNI ASSOCIATION: Ed
McHenry to president, Case Alumni
Council.
VEALE FOUNDATION: Cynthia L.
Bailie to executive director.
ASIAN AMERICAN BAR
ASSOCIATION OF OHIO: Barbara
A. Lum (Thompson Hine LLP) to
president; Sonja Rice to
president-elect; Sanjiv Kapur to
secretary; Edward Chyun to
treasurer; Elaine Tso to vice
president, membership; Deborah W.
Yue to immediate past president.
REAL ESTATE
AWARDS
SIMON PROPERTY GROUP INC.:
Kurt Palmer to local leasing
representative, Great Lakes Mall and
Richmond Town Square.
OCTOBER RESEARCH LLC: Chris
Crowell to editorial director.
AMERICAN
PSYCHOLOGICAL ASSOCIATION: Mary Ann
Parris Stephens
(Kent State University) received
the 2013 DevelStephens
opmental Health
Award given by the
Aging and Health Committee.
TMC EMPLOYEE BENEFITS
GROUP: Laurie Sheehan to
account manager.
Send information for Going Places
to dhillyer@crain.com.
MENORAH PARK FOUNDATION:
Traci Felder to director of major
gifts.
SERVICE
BERNARD HEALTH: Jake Blume to
retail advisor.
Cox Business helped Liberty Market keep more
than their produce and bread 100% local.
STAFFING
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20130826-NEWS--11-NAT-CCI-CL_--
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Page 1
OHIO MBA
GUIDE 2013
F
or those seeking an
MBA, there are any
number of programs to
choose from in the
Buckeye State. On the following
pages, we give a brief
breakdown of some programs
available in Ohio (only schools
with a physical presence are
included in the directory).
PUBLIC SCHOOLS
THE UNIVERSITY OF AKRON
College of Business
Administration
Akron
330-972-7043
gradcba@uakron.edu
Types of MBAs available: The
flexible MBA at Akron allows students to
attend on
a full- or
part-time
basis.
Evening
and weekend classes provide flexibility for students
who are fully employed. Concentrations that are available are:
management; leadership and organizational change; direct interactive marketing; finance; global
technological innovation; interdisciplinary; international business;
international finance; health care
management; supply chain management; and strategic marketing.
The interdisciplinary concentration provides the most flexibility. A
student can customize the concentration by selecting nine graduate
credits to use toward the concentration. Students develop their
own plan of study for approval, and
it can include graduate courses
from outside of business.
MBA program highlights: The
school launched its first cohort of
students in fall 2011 for the Saturday MBA. This cohort successfully
completed the program and graduated in August 2013. The third
cohort will begin in fall 2013 semester. Students take courses using distance-learning technologies
at the Medina County University
Center, University of Akron Wayne
campus and the University of
Akron Lakewood Center, every
other Saturday for two years. The
in-class experience is supplemented with online technology. Students take three courses per semester using this hybrid format.
The same students attend classes
together over the two-year period.
The new cohort will run from fall
semester 2013 through summer
semester 2015.
Class locations: Most classes
are held on the main campus in
Akron. Saturday MBA classes use
distance-learning technologies at
the Medina County University
Center and The University of
Akron Lakewood.
Online options: The economics
class is offered twice a year and is
100% online.
Scholarship/financial aid available: Graduate assistantships are
available for full-time students.
They offer full and half scholarships and a stipend for working 20
or 10 hours per week, respectively.
About 20 to 25 new awards are
granted per year.
BOWLING GREEN STATE
UNIVERSITY
College of Business
Administration
Bowling Green
419-372-2488
mba-info@bgsu.edu
Types of MBAs available: Fulltime MBA, an accelerated oneyear program with
specializations in accounting
and finance; executive MBA, a
part-time weekend program; and
professional MBA, a part-time
evening program.
full-time program is a cohortbased, accelerated one-year format open to students from any
undergraduate major. BGSU’s
MBA programs are accredited by
the Association to Advance College Schools of Business (AACSB).
According to the school, it received the second-highest ratings
in Ohio by The Princeton Review
for academic experience and admissions selectivity.
Class location: Full-time and
executive MBA classes are held at
the main campus. Professional
MBA classes are held in Perrysburg and Findlay.
Online options: None
Scholarship/financial aid available: Financial aid is available to
full-time students in a variety of
forms, including graduate assist-
antships, student employment
and loans. The executive MBA and
professional MBA have tuition deferral for students who receive financial assistance from their employers.
UNIVERSITY OF CINCINNATI
Carl H. Lindner
College of Business
Cincinnati
513-556-3546 (Dona Clary)
graduate@uc.edu
full-time MBA program includes a
12-month accelerated program
and a 15month
accelerated program
with an
internship. Also available is a
dual-degree program, which includes a 21-month MBA/master of
science program. There also are
joint degrees — MBA/arts administration; MBA/law; MBA/medicine; and MBA/nursing — as well
as a part-time option, which is two
years with flexible sequencing.
The five-year Accelerated Engineering Degree (ACCEND) program allows engineering students
to earn an undergraduate engineering degree plus an MBA. All
MBA students are invited to complete a discipline-specific certificate in conjunction with their
MBA. Sixteen certificates are offered including marketing, finance, international business, innovation, data analytics,
operations excellence and taxation. These graduate certificates
are transcriptable and can be included as part of the degree.
MBA program highlights: According to the school, the recently
redesigned MBA program allows
students to tailor the degree to
their needs and interests for a
more personalized experience.
Students with undergraduate
business degrees can waive foundation courses and use available
electives to earn transcripted
graduate certificates. Students
also can add a specialized master’s degree in accounting, applied
economics, business analytics, finance, information systems, marketing or tax to an MBA with as
few as 18 to 24 additional semester
Schools were asked to provide
such information as highlights
and details of their programs,
class locations and online
options. Additional information
from the schools — such as
admission requirements,
tuition information and the size
of the program — is available at
www.crainscleveland.com.
hours of study. The program has
been AACSB accredited since
1919; the part-time program was
ranked 78th by U.S. News & World
Report’s 2013 rankings, according
to the school.
Class location: Main campus.
The part-time program also is
available at the Blue Ash Carver
Woods campus.
Online options: Up to 25% of
program can be conducted online.
Scholarship/financial aid available: The Albert C. Yates Fellows
offers full tuition for minority students, while university graduate
scholarships are merit based.
Need-based financial aid is available through the University of
Cincinnati Financial Aid Office.
Paxton Fellows are available for
full-time MBAs, with an emphasis
on leadership and interdisciplinary problem solving.
CLEVELAND STATE
UNIVERSITY
Monte Ahuja
College of Business
Cleveland
216-687-3730
e.granot@csuohio.edu (Dr. Elad
Granot, MBA programs director,
216-687-3850)
Types of MBAs available: Fulltime MBA; part-time; off-campus
at Cleveland Clinic, Progressive
Insurance, CSU West Center and
Metro Health Medical Center;
executive, full-time weekend program (19 months); mobile accelerated, full-time online program (12
months); global accelerated MBA,
full-time weekend program (12
months).
MBA program highlights: Flexibility of class offerings; off-campus options; AACSB (Association
to Advance Collegiate Schools of
Business) accredited; and 80% of
graduates work in the Northeast
Ohio area.
In the executive MBA program,
students are all individuals who
have been out of school for some
time and are working in profes-
sional and supervisory positions.
International trip included where
students will meet with executives
from top companies. During the
weekend classes, meals are provided. Books and a parking pass
are also provided (included in
tuition)
In the global accelerated MBA
program, an international trip is
included during which students
meet with executives from top
companies. During the weekend
classes, meals are provided. Books
and a parking pass are also provided, included in tuition.
The mobile accelerated MBA
program is 100% online. When
students are admitted into the
program they receive an iPad,
which they use for all of their
courses and for their textbooks.
Class locations: Downtown
Cleveland (main campus); Progressive Insurance: Mayfield
Heights; Cleveland Clinic, Cleveland; CSU West Center, Westlake;
and MetroHealth Medical Center,
Cleveland.
Online options: The Mobile
Accelerated MBA is a 100% online
program.
Scholarship/financial aid available: Student loans; graduate
assistantships; and scholarships
(http://www.csuohio.edu/business/currstudents/scholarships.
html)
KENT STATE UNIVERSITY
College of Business
Administration
Kent
330-672-EMBA for executive
MBA and executive MBA for
health care professionals;
330-672-2282,
gradbus@kent.edu for full-time
and professional MBA programs.
Types of
MBAs
available:
Executive
MBA; executive MBA for health care professionals; full-time MBA; and professional MBA (part-time).
executive MBA and executive MBA
for health care professionals both
feature an international business
trip.
See KENT Page 12
20130826-NEWS--12-NAT-CCI-CL_--
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OHIO MBA GUIDE 2013
12 CRAIN’S CLEVELAND BUSINESS
KENT, continued from PAGE 11
The executive MBA has Saturday only classes, while the executive MBA for healthcare professionals meets once monthly with
supplemental online content. The
full-time MBA is a cohort program.
The part-time MBA has weeknight
evening courses and a flexible,
self-paced setup.
Class locations: Executive MBA,
main campus; executive MBA for
health care professionals, to be determined; full-time MBA, main
campus; and part-time MBA, main
and Stark campuses.
Online options: The executive
MBA has one online class weekend
per session. The executive MBA for
health care professionals has once
monthly class meetings supplemented with online content. Several
online courses are available for fulltime and part-time MBA programs.
Scholarship/financial aid available: Executive MBA scholarships
are based on need. Full-time graduate assistantships cover tuition
and pay a stipend of up to $6,700
for 20 hours of work per week.
MIAMI UNIVERSITY
Farmer School of Business
Oxford
513-895-8876
miamipmba@muohio.edu
Types of MBAs available: Accelerated part-time program with
concentrations in finance, marketing or a blend.
MBA program highlights: Casebased learning environment cultivates cross-functional decisionmaking required for positions of
broad responsibility. A concierge
service provides all course materials, course registration and provides dinner. Limited prerequisites
and a schedule of shorter semesters were developed to accommo-
date working professionals for
completion of the program within
two years.
Class location: West Chester,
satellite location.
Online options: Prerequisites
online options available only.
Scholarship/financial aid available: Student loans.
OHIO STATE UNIVERSITY
Fisher College of Business
Columbus
614-292-8511
mba@fisher.osu.edu
Types of MBAs available: Fulltime MBA; working professional
MBA; and executive MBA.
MBA program highlights: Nationally ranked and accredited;
flexible and action-based curriculum; distinguished faculty; small
class sizes; close partnerships with
local, regional and global business
communities; and strong alumni
network.
Class locations: Main campus.
Online options: Fisher MBA
programs were developed to allow
students to benefit from the interaction and collaboration that happens in the classroom. Therefore,
Fisher’s MBA program does not
currently offer online classes.
Scholarship/financial aid
available: For the full-time MBA
program, Fisher provides meritbased funding consisting of scholarships, fellowships, graduate assistantships and housing awards.
OHIO UNIVERSITY
College of Business
Athens
740-593-2028;
mba@ohio.edu
Types of MBAs available: Professional MBA; online MBA with
concentrations in finance, health
care and executive management;
and full-time residential MBA
coming in June 2014.
professional MBA is a part-time
MBA program designed to meet
the needs of emerging business
leaders, non-managers moving
into managerial roles and individuals whose careers are in transition. A class and residency schedule that recognizes the multiple
demands of working professionals
allows one to remain fully
employed while earning an MBA
degree in 20 months. Most of the
program is offered online through
virtual classes and online modules
with one in-person Saturday residency each month, which is offered in Columbus and Cleveland.
Through the new online MBA, students complete their degrees in
two years with the same academic
requirements as those taking the
professional MBA degree, and they
can acquire a specialization in finance, health care and executive
management. In addition to the
online courses, the program includes one mandatory and two
optional on-campus professional
development workshops.
Class location: Once-a-month
Saturday residencies offered in
Columbus and Cleveland; fulltime MBA will be held on Ohio
University, Athens campus.
Online options: For the online
MBA, the entire program is offered
online, with the exception of one
weekend workshop. For the professional MBA, 80% of the program is offered online through virtual classes and online modules.
Increase
your earning potential and marketability
with an MBA from Kent State University.
Kent State’s MBA programs are fully
accredited, affordable and offered at
convenient locations in Northeast Ohio.
s&ULLTIME-"!
s0ARTTIME-"!
s%XECUTIVE-"!
s %-"!FORHEALTHCAREPROFESSIONALS
s$UALDEGREE-"!PROGRAMSWITHARCHITECTURE
TRANSLATIONNURSINGANDLIBRARYSCIENCE
&INDOUTMOREATKENTEDUBUSINESSGRAD
Kent State University, Kent State and KSU are registered trademarks and may not be used without permission. Kent State University is committed to attaining excellence through the recruitment and retention of a diverse student body and workforce. 13-1858
UNIVERSITY OF TOLEDO
College of Business
and Innovation
Toledo
419-530-2087
COBIadvising@utoledo.edu
University of Toledo offers a selfpaced professional MBA that is delivered with a combination of
weeknight and online classes, and
a 12-month executive MBA that
takes place on campus once per
month with the rest of the program
delivered online. The professional
MBA program has 10 areas of concentration, including marketing,
entrepreneurship, leadership,
finance and health care systems
management, among others.
executive MBA is provided as a
12-month program with a blend of
online and once-a-month on-campus classes. The professional MBA
program can be taken up to 85%
online, which allows students the
opportunity to complete the program from a distance, including
from the Cleveland area.
Class location: Main campus.
Online options: About 85% of
the professional MBA can be completed online, and students have
the choice whether to take courses
in person or online.
Scholarship/financial aid available: Scholarships are available for
the professional MBA, and the size
of the scholarships are dependent
on merit (work experience, GPA,
GMAT scores, fit with program),
and they can range from a modest
tuition award to full tuition.
WRIGHT STATE UNIVERSITY
Dayton
Raj Soin College of Business
937-775-2437
mba@wright.edu
Types of MBAs available: Three
programs are offered. The MBA
weekend cohort program offers
classes
every other
weekend
and can be
completed
in two years.
The class
schedule is
published
two years in advance. The evening
program offers classes twice per
week from 5 to 6:20 p.m. or once
per week from 6:30 to 9:10 p.m.
The program can be completed at
one’s own pace within five years.
The full-time program can be
completed in one year.
program is AACSB accredited. Ten
concentrations are offered in investments; new venture creation;
health care management (offered
jointly by the Boonshoft School of
Medicine); project management;
marketing; economics; finance;
international business; management, innovation and change; and
interdisciplinary business.
Class location: Mason, main
campus-Dayton and Lake Campus-Celina.
Online options: Five foundation
courses can be completed online.
These courses are designed for students who do not have an undergraduate degree in business and for
business graduates who need a refresher in accounting, finance, economics, business statistics or business law and ethics.
(Most AACSB-accredited schools
will accept transfer credits for
other AACSB-accredited MBA
programs.)
available: Financial aid is offered
to full-time graduate students in
the form of graduate assistantships
and graduate tuition scholarships.
Students should apply by April 15
for early consideration.
YOUNGSTOWN STATE
UNIVERSITY
Williamson College
of Business Administration
Youngstown
330-941-1889 (MBA program
director Tony Kos); 330-941-3069
(MBA program coordinator
Monique Bradford) or
330-941-3064 (office of the dean)
ajkos@ysu.edu or
mrbradford@ysu.edu
Types of MBAs available: Flexible MBA program and online MBA
program.
MBA program highlights: Program is AACSB accredited. Primary
program goals include development of skills related strategic
analysis, leadership and management decision-making, with an
emphasis on applied learning. Projects with the business community
are incorporated throughout the
curriculum. Eighty percent of students work full-time and complete
the program on a part-time basis.
It is designed for both business
and non-business undergraduate
degree holders. The total program
is 49 semester hours. A maximum
of 16 hours of Level I courses may
be waived depending upon undergraduate preparation. The MBA
Core (Level II) consists of 24 hours.
Nine hours of MBA electives (Level
III) are required. Electives are offered in accounting, finance, enterprise resource planning, entrepreneurship, and management.
Concentrations are also available.
There are options for global learning experiences and internships.
The average class size is 12 and oncampus courses meet one evening
per week.
Class location: Flexible MBA is
held on the main campus, and the
online program is 100% online.
Online options: The MBA program is offered 100% online.
Requirements for admission:
Application, $40 fee, resume, statement of purpose, official transcripts and official GRE or GMAT
score. GMAT or GRE is a required
exam for entrance into the program however the GMAT or GRE
may be waived for individuals who
hold a terminal degree such as a
JD, MD, PhD or a DDS. Medical
doctors, dentists and attorneys
must be licensed to practice in the
United States to take advantage of
this waiver.
available: Graduate assistantships
are available for full-time MBA
students. Assistantships include
24-hour tuition waiver and $7,500
stipend per academic year. Scholarships and grants-in-aid are available to a limited number of graduate students for a maximum of
four semester hours per term,
based on the following criteria:
nine semester hours of YSU graduate credit, a minimum 3.6 GPA; or
six semester hours of YSU graduate
credit, 4.0 GPA.
20130826-NEWS--13-NAT-CCI-CL_--
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Page 1
OHIO MBA GUIDE 2013
PRIVATE SCHOOLS
ASHLAND UNIVERSITY
Ashland
419-289-5214
or 888-MBA-CLAS
mba@ashland.edu
Types of MBAs available: Executive management and specializations in accounting, entrepreneurship finance, global management,
human resource management,
project management, supply
chain management and a sport
management concentration
MBA program highlights: High
quality in national and regionally
accredited programs (Accreditation Council for Business Schools
and Programs and North Central
Association of Colleges and
Schools); professors who possess
excellent academic credentials
and have business experience;
flexibility and convenience; four
teaching delivery methods — one
evening per week for 12 weeks, six
alternate Saturdays, hybrid online
and online program
Class locations: Ashland main
campus; Columbus Center in
Columbus; Westlake Center
(Corporate College) in Westlake;
Medina Center in Medina;
Massillon/Stark Center in
Massillon
Online options: All online and
hybrid online
Scholarship/financial aid available: Graduate students are eligible to receive Stafford loans unless
they are in default on a previously
received federal loan or have
reached their aggregate loan limit
of $138,500. Corporate reimbursement and tuition management
systems payment plan also are
available.
BALDWIN WALLACE
UNIVERSITY
Berea
440-826-2392
graduate@bw.edu
Types of MBAs available: There
is a management MBA, management hybrid
(new), executive,
accounting,
health care,
entrepreneurship,
international, human
resources and the sustainability
MBA (new). The EMBA, health
care and management hybrid
MBAs have Friday and Saturday
classes. All other programs hold
Monday through Thursday
classes.
majority of MBA students are
working professionals who have
two to 30 years of professional
work experience and are pursuing
the MBA part time. The faculty
members are an intentionally designed portfolio of full-time PhDs
who also are leaders in business
and who have been a CEO, COO,
CFO or senior vice president in
their careers. The BW MBA program is one of the largest MBA
programs in Ohio and has graduates living around the world.
Class locations: Main campus
and Beachwood. The executive
and hybrid programs are offered
only at the main campus.
Online options: The management hybrid MBA is a two-year
program with approximately 75%
delivered online and 25% seated.
The seated component is conducted during weekends at the
start and completion of each semester. Students have seven
weekends of classes at the Berea
campus during the two-year
program.
Scholarship/financial aid available: MBA students are eligible for
consideration for Stafford loans,
which can cover up to 100% of the
program’s costs.
BLUFFTON UNIVERSITY
Bluffton
800-488-3257, option 4
adulted@bluffton.edu
Types of MBAs available:
Bluffton graduate students can
complete an MBA or an MBA with
a concentration in health care
management or sports management in two years, attending class
CRAIN’S CLEVELAND BUSINESS 13
one evening a week. In addition,
there is a master of arts in organizational management.
MBA program highlights:
Students complete the degree
program in cohorts of 15 to 20
students. Courses emphasize
interactive, experiential learning
rather than the traditional lecture.
The school also provides an
optional China business study
trip; the objective of this
experience is to learn about
China’s business environment,
culture and economy.
Class locations: Bluffton campus; Edison Community College,
Piqua; and Northwest State Community College, Archbold.
Online options: None available.
Scholarship/financial aid available: Students are eligible to apply
for William D. Ford Federal Direct
Loan programs. Federal direct
loans are guaranteed low-interest
loans for students attending
school at least half time. Students
are eligible to borrow a maximum
of $20,500 per year.
CASE WESTERN RESERVE
UNIVERSITY
Weatherhead School
of Management
Cleveland
216-368-2030
wsomadmission@case.edu
Full-time, part-time, executive
and global MBAs.
school touts its Weatherhead MBA
as a “transformative experience.”
It educates leaders who innovate
using design practices and create
sustainable value. Class sizes are
kept small so as to allow direct access to faculty. In addition to electives in subjects such as design
and sustainability, students complete foundation courses such as
finance, operations and marketing, as well as a leadership development course. This year, the
school welcomes the first students
in its global MBA, which brings
students from China, India and
the United States together in a
two-year, full-time program. Students spend the first semester in
Shanghai, China; the second semester in Jamshedpur, India; and
the third semester in Cleveland.
Class location: Cleveland. (The
global MBA program includes
semesters in China and India)
Online options: None.
Scholarship/financial aid available: Applicants to the full-time
MBA program may request that
they be considered for scholarships. Materials beyond the standard application are not required
for consideration. Scholarships
are based on academic and professional qualifications and are
not need-based. Scholarship recipients are informed of the award
in their admission letter. Candidates are encouraged to apply early for maximum scholarship availability. Application for need-based
financial aid is a separate process.
P A R K E R
MBA PROGRAM
Complete your degree in as few as eleven months
Attend Lakeland’s Holden University Center a state-of-the art learning facility
Convenient evening or Saturday classes
No GMAT required
INFORMATION NIGHT
Monday, October 7, 2013 at 6:00 p.m.
at Lakeland's Holden University Center
Register at www.lec.edu/mbainfonight
Proud Partners
HOLDEN UNIVERSITY CENTER
continued on PAGE 14
20130826-NEWS--14-NAT-CCI-CL_--
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OHIO MBA GUIDE 2013
UNIVERSITY OF DAYTON
classes are completed. Many
employers have tuition policies to
cover all or most of the cost of the
MBA. For complete information,
visit the Office of Scholarships and
Financial Aid at
http://finaid.udayton.edu/.
School of Business
Administration
Dayton
937-229-3733 (Janice Glynn,
MBA program director)
mba@udayton.edu
Whether a
student is
enrolled
full-time for
one year or
part-time for
three years,
the University
of Dayton
helps customize the program. The
University of Dayton also offers a
joint, JD/MBA degree, as well as
post-master’s and certificate programs. Concentrations are available in accounting, cybersecurity, finance and marketing.
Princeton Review listed the University of Dayton MBA program in
the most recent edition of “The
Best 300 Business Schools.” This is
the sixth consecutive year the
MBA program made the list.
as well as the 1700 Building at
River Campus. Cybersecurity
courses are held at Riverside
Research in Beavercreek.
Online options: Five of the
program’s courses will be online
this fall. Nine were online this
summer.
Scholarship/financial aid available: The University of Dayton has
a number of sources of financial
aid, including graduate assistantships and loans. The school has a
10-month deferred payment plan.
Students who receive reimbursement from their employers after
courses and grades are complete
can opt to defer payment for
tuition charges for six weeks after
UNIVERSITY OF FINDLAY
College of Business
Findlay
800-558-9060
gradinfo@findlay.edu
university offers day, evening and
online courses for both full-time
and part-time students. Students
may choose to focus in a number
of areas: certified management
accountant or certified public
accountant, business administration, health care management and
hospitality management. The
university also offers specialized
second concentrations in finance,
human resource management,
international business and
marketing.
MBA program highlights: All
primary textbooks for MBA classes
are free through the school’s book
rental program, and the program
may be completed in one year as a
full-time student. For those who
are working, real-world class
projects can be tailored to benefit
you in your current job.
Online options: The entire program may be completed online.
Scholarship/financial aid available: The university does not offer
scholarships for graduate
programs, though some external
organizations do make them
available. The university offers free
textbook rental.
FRANCISCAN UNIVERSITY
OF STEUBENVILLE
Steubenville
740-284-5249 (enrollment
questions) or (740) 283-6281
(program specifics)
gradadmissions@franciscan.edu
Types of MBAs available: Franciscan University of Steubenville’s
MBA is a
general
management degree
with an optional area
of concentration in
accounting.
The MBA offered
through the school is a part-time
evening program, with two workshop-style courses that meet three
weekends throughout the term.
The program is offered in
trimesters, and it typically takes
two years to complete.
MBA program requires coursework in managerial leadership,
managerial communications and
international business. It also is
designed to meet the needs of
working professionals because
almost all courses are offered in
the evening; the degree also may
be pursued on a part-time basis.
Online options: New online
MBA is available as of fall 2013. All
the coursework can be completed
online.
Scholarship/financial aid available: Full-time students enrolled
on a trimester basis (fall, spring,
summer) are eligible for up to
$26,280 in federal direct student
loans per year, and part-time
students are eligible for up to
$20,700 in federal loans.
WHERE ACADEMIC EXCELLENCE
MEETS THE REAL WORLD
All of our core classes begin with a real-world business challenge posed
directly from Northeast Ohio-based companies, large and small.
And unlike other MBAs, our integrated track courses are team taught by
expert faculty. We combine several business disciplines into each class
to empower you to quickly assess real-world business problems and
implement the best solutions.
Learn more and apply: go.jcu.edu/mba
FRANKLIN UNIVERSITY
Columbus
614-797-4700
gradschl@franklin.edu
accredited MBA
program has
weeknight and
online classes
and is designed
to help students
develop into
well-rounded, adaptive and strategic-thinking business leaders —
and to work around busy lives.
Students can earn master’s
degrees in 16 months.
Offered around the world, the
Franklin MBA has the distinction
of being an accredited MBA by the
International Assembly for Collegiate Business Education. The
MBA aims to develop leadership
skills designed for global application and will challenge students to
leverage their strengths and increase their ability to think expansively about how the world of commerce operates. The curriculum
emphasizes analytics, contemporary business communication
skills and social responsibility
downtown, Delaware and Dublin
locations, and it will be available
through the university’s new
regional location in Beavercreek.
Online options: The MBA can be
completed entirely online, face-toface or in a hybrid mix of the two
formats.
HEIDELBERG UNIVERSITY
Tiffin
419-893-1986
aunderwo@heidelberg.edu, Allen
Underwood
General management
Heidelberg University MBA program delivers the faculty quality
you’ll find at larger schools, with
the personal attention you expect
from a smaller school. Seated
courses provide a strong environment for interaction between students and professors. The capstone courses, field study, allow
students to work on an actual consulting project with a real client.
The program can be completed
part-time over two years, or
full-time within 12 months.
Class locations: Tiffin campus
and Maumee campus in
Arrowhead Park
Online options: None
available: None available.
INDIANA WESLEYAN
UNIVERSITY
Independence
800-621-8667 ext. 6207
Types of MBAs available: Health
care administration (online only);
MBA/master
of science in
nursing dual
degree (online only); virtual delivery in executive management (online only); virtual delivery in international business (online only). All
programs are offered with an
accelerated yet flexible schedule.
Students complete one course at a
time in sequential order — either
one night per week at one of the
local education centers (Independence or Mayfield Heights), or in
an online format
university pioneered accelerated
programs for adults in 1985 and
now is recognized as a model for
adult education with more than
60,000 adult graduates across almost 30 years. The school first offered its MBA program in the online format in 1996. Its small class
sizes maximize learning experience and interaction and have
motivated student population with
average ages of 30 to 45.
Class locations: Independence
and Mayfield Heights
Online options: Online classes
are available in all programs. If a
student chooses the online program, the entire degree can be
completed in the collaborative
distance-learning format.
Scholarship/financial aid available: Payment options may include federal and/or state financial
aid; company-sponsored tuition
reimbursement on a deferred payment option; company direct-bill;
self-pay; military benefits.
JOHN CARROLL UNIVERSITY
Boler School of Business
University Heights
216-397-1970
Types of MBAs available: John
Carroll offers the part-time MBA
for working professionals with at
least two years of experience, and
the Boler fifth-year MBA is open to
recent undergraduates.
part-time MBA allows students to
take courses that integrate business tools and concepts to solve
real-world business problems
posed from Northeast Ohio-based
companies. The fifth-year MBA
allows any student to obtain an
MBA in one year if they have taken
prerequisite business courses. Students are required to complete an
internship as part of the fifth-year
MBA program.
Class locations: Most courses
are taught on the main campus in
addition to on-site visits to Northeast Ohio businesses.
Online options: Several of the
foundation courses are offered
online.
Scholarship/financial aid available: The school offers merit scholarships, federal loans and graduate
assistantships (tuition remission
and monthly stipend).
LAKE ERIE COLLEGE
Painesville
440-375-7075
dbares@lec.edu, Donna Bares
Types of MBAs available: Lake
Erie’s most
popular
option, the
evening
MBA,
allows students to take anywhere
from one to four classes per
semester, with each class meeting
one evening per week. Most students complete the program in
roughly two years. Evening students also have the option of
including accelerated Saturday
classes. The accelerated MBA
allows students to complete their
MBA in as few as 11 months. The
concentration in healthcare administration prepares students for
staff, managerial and leadership
roles in the health care industry.
See LAKE ERIE Page 15
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OHIO MBA GUIDE 2013
LAKE ERIE, continued from PAGE 14
Lake Erie College Parker MBA is designed to provide a graduate business education that is practical and
real-world focused, enabling students from a wide variety of backgrounds to develop managerial and
professional competencies that will
be relevant regardless of where
your career takes you. No prior
business courses are required.
Class locations: New Holden
University Center of Lakeland
Community College.
Online options: Several optional
online courses are offered.
Scholarship/financial aid available: The Stafford Loan is available
for graduate students for up to
$20,500 per academic year.
LOURDES UNIVERSITY
College of Business
& Leadership
hours and four semesters with six
credit hours. The tuition is the
same as the classroom version
(plus $120 technology/materials
fee per course).
available: Maximum loans
available are $20,500 per year or
up to the federal budget. We are
also a military-friendly school; a
veteran can apply his or her Veterans Affairs Yellow Ribbon grant
toward the MBA.
COLLEGE OF MOUNT
ST. JOSEPH
Cincinnati
513-244-4233
Mary_Brigham@mail.msj.edu,
Mary Brigham
Types of MBAs available: This
program is
only offered
to current undergraduate
students, as
well as recent
alums in certain cases, because it is a program
that allows students to earn graduate credit while they are still undergraduates. In this program, undergraduates complete four
courses during their senior year
for dual credit, a project-based
professional experience and finish
with one additional year of graduate courses. It is not yet a standalone graduate program offered to
other students.
MBA program highlights: Students earn graduate credit while
still an undergraduate in this MBA
format. Students apply to the program during their junior year, take
dual-credit courses their senior
year, and the complete their MBA
with one additional year of
coursework.
Scholarship/financial aid available: Undergraduate students can
use their fourth-year scholarship
eligibility for the first four courses,
and graduate eligibility for financial aid for the additional year.
MOUNT VERNON NAZARENE
UNIVERSITY
Mount Vernon
740-392-6868, ext. 3323
Types of MBAs available: Con-
centrations in finance, human
resource management, organizational management and health
care administration are available.
The MBA is a 12-course curriculum, which includes nine core
courses in accounting, economics,
finance, management, marketing
ethics, leadership, organizational
behavior, legal issues, global business and strategy. The executive
MBA offers an MBA with an organizational management concentration and can be completed in
less than a year.
MBA is an accelerated program
that offers degree completion in
15 months or less. Classes are
offered one night a week or online.
The tuition is locked in and will
not increase as long as students
are continuously enrolled.
See MOUNT VERNON Page 16
Sylvania
419-824-3517
gradschool@lourdes.edu
Types of
MBAs available: General
MBA degree in
a full-time,
12-month or
part-time, 24month option.
school said it has a distinctive, cutting-edge curriculum and state-ofthe-art technology, personalized
career guidance, including job
search and interview preparation.
Its intentionally recruited faculty
brings to the classroom their reallife experiences serving as senior
corporate executives at Fortune 500
companies to successfully launching entrepreneurial ventures. International and professional immersion courses allow candidates the
opportunity to put into practice
through real-life experiences
gained throughout the program.
MBA students have the opportunity
to meet with business leaders in
major global cities, including Beijing, London and Sao Paulo.
Class location: Main campus
Scholarship/financial aid available: A limited number of graduate
assistantships, scholarships, and
graduate housing stipends are competitively awarded for full-time students. Candidates are encouraged
to apply early for maximum graduate assistantships, scholarships,
and graduate housing stipends.
MALONE UNIVERSITY
Malone University School
of Business and Leadership
Canton
330-471-8224
dgregory@malone.edu, Doug
Gregory
Types of MBAs available: Online
or in-classroom MBAs are available.
classroom is one night a week for 24
months, with personalized classes
of about 15 to 25 students. The format is easy to manage, with one
course at a time in five- to eightweek sequences. Malone University’s MBA program is accredited by
the Accreditation Council for
Business Schools and Programs.
Online option: The online program can be finished in 20 months,
in one semester with 12 credit
Get Your MBA. Keep Your Life.
Earn a fully accredited MBA from The University of
Akron in just two years by attending class every other
Saturday at The University of Akron Lakewood (UAL),
the Medina County University Center (MCUC) and
Wayne College.
Flexible Format
Three courses are offered per semester (seven to nine credits),
one class at a time, using a combination of in-class and distance
learning. Class meets from 8:30 a.m. to 5:30 p.m. every other
Saturday.
Designed for the Working Professional
UÊ Six semesters to graduation (fall 2014 though summer 2016)
UÊ Cohort format – students start and graduate together
UÊ Experienced faculty
UÊ Action-based live team project
UÊ Team-building experiences
“With the UA Saturday MBA program
I attend class every other Saturday,
which gives me the flexibility to spend
more quality time with my family. I’m
earning a fully accredited MBA in a
way that fits perfectly into my busy
lifestyle.”
Travis Wilson,
Strategic Sourcing Purchasing Agent
The Will-Burt Company
Saturday MBA Student
Plus, UA has the highest-ranked part-time
MBA program in Northeast Ohio, according
to the 2012 Bloomberg Businessweek
rankings of part-time MBA programs.
Visit mba.uakron.edu/SaturdayMBA or
call 330-972-7043 for more information.
mba.uakron.edu/SaturdayMBA
20130826-NEWS--16-NAT-CCI-CL_--
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OHIO MBA GUIDE 2013
MOUNT VERNON,
Class location: Main campus,
Columbus-New Albany, Mansfield
and Newark.
Online options: The entire
program is available online.
available: The maximum financial
aid is $20,500 of unsubsidized
loans. Employer tuition
reimbursement also is available.
UNIVERSITY OF
NORTHWESTERN OHIO
Graduate college
Lima
419-998-3120
or 419-998-3269
info@unoh.edu or
macallah@unoh.edu
is a one-nighta-week option
and a 100%
online option.
Both allow the
working adult time to complete his
or her MBA degree while
maintaining a regular schedule,
including work and family
responsibilities.
school said the MBA program is
one of the most affordable MBA’s
in Ohio. Either program can be
completed within 18 months.
$20,500 in federal loans annually.
Ohio Christian also has the following discounts: military, $250 per
credit hour (active duty, veterans,
spouses and dependents age 23 or
younger); pastor, 10% off; senior,
20% off; and varying
corporate/church discounts.
Online options: The entire MBA
program online. Within the standard one-night-a-week delivery
option, the classes are a hybrid
format, meaning there are online
components.
Financial aid available: Annual
amounts for independent graduate MBA students are $20,500
unsubsidized. There are also
graduate assistantships available.
OHIO DOMINICAN
UNIVERSITY
OHIO CHRISTIAN
UNIVERSITY
Circleville
855-OCU-GRAD
ags@ohiochristian.edu
General MBA
MBA program highlights: Students can earn their degree online
or by attending class once a week.
The program does not require prerequisite courses, allowing those
from a variety of backgrounds to
earn their MBA. In addition, students get a quality education with
courses taught by highly qualified,
doctorally prepared faculty.
and Dublin
Online options: The entire
program can be taken online.
Scholarship/financial aid available: Students are eligible for
Columbus
614-251-4615
graduateadmissions
@ohiodominican.edu
Ohio Dominican MBA is accelerated and offered
in three delivery formats:
six-week
cohort, eightweek non-cohort and
online. MBA
concentrations
are available in accounting,
finance, leadership and public administration. A graduate certificate
in public administration is offered.
three delivery formats allow students to select the program design
that works best for them. All eightweek courses are offered face-toface and online. Concentrations
allow students to select an area of
interest. Emphasis is placed on
leadership skills enhancement and
THE CSU MBA.
MORE THAN A DEGREE.
A COMPETITIVE EDGE.
Mobile - 100 percent online
Global Accelerated
Executive
Traditional
Isn’t it time you got started?
ENGAGE NOW.
216.687.3730
Email: cbacsu@csuohio.edu
mba.csubusiness.com
ethical decision-making.
and a branch campus in Dublin
Online options: All eight-week
courses are offered online.
available: Maximum annual loan
amount for unsubsidized is
$20,500, depending on enrollment.
Aggregate loan limit for graduate
students is $138,500, which
includes any loans obtained for
undergraduate studies.
OTTERBEIN UNIVERSITY
Graduate School
Westerville
614-823-1212 or 614-823-1095
phohlbein@otterbein.edu
are concentrations
available in
information
technology,
fraud examination and actuarial science.
MBA program highlights: There
is a part-time and full-time program, small classes, rolling admission and flexible scheduling. The
MBA can be completed in two years.
Otterbein also offers accelerated
scheduling that allows students to
complete a degree sooner without
sacrificing quality or content.
Online options: Some are offered in the hybrid format.
Scholarship/financial aid available: Graduate students can receive up to $20,500 in federal unsubsidized loans and, if their
individual cost of attendance allows, can apply for the Graduate
PLUS Loan to cover any unmet
costs for the year. A $2,500 scholarship is available for graduate
students through the Westerville
Area Chamber of Commerce.
UNIVERSITY OF RIO GRANDE
Emerson E. Evans
School of Business
Rio Grande
800-282-7201, ext. 7352
jwinters@rio.edu
University of Rio Grande MBA is a
two-year, part-time program,
which includes one
evening per
week in the
classroom
and online assignments
MBA with a concentration in entrepreneurship provides students
with an understanding of and experience with the entrepreneurial
process. It provides competencies
and skills to both launch a new
business and to function successfully in an established corporation
with entrepreneurial management
strategies. The program is open to
all students with business or nonbusiness undergraduate degrees
(students with non-business degrees must satisfy five prerequisite
courses in accounting, business
management, microeconomics,
statistics and business law.
Online options: The program is a
hybrid, which means there is a faceto-face and online component.
TIFFIN UNIVERSITY
Monte Ahuja
Ah a Coll
Collegee of Business
Busines
Cleveland State University is an AA/EO institution. 13-00847
Tiffin
419-448-3510
grad@tiffin.edu
Tiffin University MBA program includes concentrations in leadership, sports management, general
management, finance, interna-
tional business, human
resources
management, marketing and healthcare
administration.
school says the program is distinguished by a focus on developing
competencies in communication
skills, leadership and teamwork,
information technology and problem solving. The faculty leads the
student body through current issues in management and the technology-driven global workplace.
Online options: Complete z
online option available
Scholarship/financial aid available: A $250 per credit hour discount for Fraternal Order of Police,
active military and Marathon employees. Student loans are available.
URBANA UNIVERSITY
Urbana
937-484-1258
jmcculla@urbana.edu
Types of MBAs available: Full
and part-time MBA programs are
available.
university’s MBA program offers 12
courses, in a
36-hour program, which is
designed for
busy professionals managing multiple
commitments.
and Troy
Online options: The full
program is available online.
available: Loans can be obtained
by completing the FAFSA.
URSULINE COLLEGE
School of Professional
and Graduate Studies
Pepper Pike
440-646-8119
msteele@ursuline.edu
Types of MBAs available: Ursuline College offers several convenient and
flexible
types of
MBA programs, including an evening MBA
program where students only have
to attend class one night per week
and a Saturday executive MBA program where students only have to
attend class once every other week.
Students may enroll full time or
part time. The concentration areas
are management; leadership; financial planning and accounting;
marketing and communications;
health services; and ethical and
entrepreneurial leadership. Most
courses are structured as accelerated five or seven-week courses.
MBA program highlights: One
of the newest program options at
Ursuline is the executive MBA program in ethical and entrepreneurial leadership. The EMBA program
includes an iPad, e-books, a travel
abroad study trip, and working
lunch sessions with professional
guest speakers. Students only have
to attend a maximum of 24
on-campus class sessions that are
held every other Saturday to complete the 36 credit-hour degree.
and Pilla Student Learning Center
Online options: Students have
an option to take traditional
face-to-face courses, hybrid
courses and online courses.
Scholarship/financial aid available: A graduate student is eligible
to receive up to $20,500 in Stafford
loans per school year.
continued on PAGE 17
20130826-NEWS--17-NAT-CCI-CL_--
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OHIO MBA GUIDE 2013
The Baldwin Wallace MBA
WALSH UNIVERSITY
XAVIER UNIVERSITY
Walsh University DeVille
School of Business
Williams College of Business
at Xavier University
North Canton
330-490-7406
mmcauliffe@walsh.edu, Mona
McAuliffe
Types of MBAs available: Our
newly redesigned curriculum allows you the option of earning
your MBA online, in-class or
through a combination of the two
in as few as 12 months. Students
can earn their MBA degree in management, health care management, entrepreneurship or marketing. Classes meet one night a week
and one Saturday per month.
Walsh University MBA program is
accredited. Classes are small and
meet one evening per week and
one Saturday per month in
eight-week segments.
Online options: Walsh University offers four online, 12-month
MBA programs: management,
health care management, marketing, and entrepreneurship.
Scholarship/financial aid available: Student loans available are
based on 36 credit hours, for a
total of $21,780. Other options
include graduate assistance,
outside scholarships or company
reimbursement.
Cincinnati
513-745-3525
or 800-344-4698, ext. 3525
xumba@xavier.edu
program has concentrations in
business intelligence, finance, general business, health industry,
international business, marketing
and values-based leadership.
MBA program highlights: Xavier
University has a 20-month executive MBA, weekend MBA (Saturday
classes); momentum MBA for fulltime students; accelerated
24-month MBA in West Chester
and Fort Wright, Ky. According to
the school, the program is ranked
19th in the nation for international
business, 19th for the executive
MBA and 22nd for finance.
Class locations: Main campus,
West Chester, and Fort Wright, Ky.
Online options: Five of the 20
MBA classes are offered online.
Scholarship/financial aid available: Graduate assistantships are
available with tuition coverage
from $2,220 to $4,440 per semester. Scholarships are a discount on
tuition from $30 to $70 off per
credit hour based upon financial
need as demonstrated by the
FAFSA.
At Baldwin Wallace, we know there
is a leader in us all.
We all have it in us to become more than what we are today. It’s called
potential. Perhaps we want to advance our career, grow our business, sharpen
our leadership skills, or become more effective and valued in our current role.
275 Eastland Road
Berea, Ohio 44017-2088
440-826-2392
1-800-773-4261
graduate@bw.edu
www.bw.edu
Baldwin Wallace University does not
discriminate on the basis of race, creed,
age, disability, national origin, gender or
sexual orientation in the administration
of any policies or programs.
With a focus on LEADERSHIP, INNOVATION, CRITICAL THINKING and
COMMUNICATION, the BW MBA will provide you with all of the tools, insights
and information required to develop a pathway to professional success. BW’s
MBA programs offer a practical education that can have immediate impact on
your career and your life.
■
MBA in Management
■
MBA in International Management
■
MBA in Accounting
■
MBA in Entrepreneurship
■
Executive MBA in Management*
■
MBA in Human Resources
■
MBA in Health Care Management*
■
MBA in Sustainability
*Classes meet Friday–Saturday, so you can meet your weekday obligations.
MBA classes are offered at both the Berea campus and at BW East in Beachwood.
The MBA in Management is also offered in an online, hybrid format.
FOR-PROFIT SCHOOLS
Scholarship/financial aid available: Scholarships and financial
aid are available. For information,
contact the Keller Graduate Student Finance Office, 866-553-3879.
DEVRY UNIVERSITY
Keller Graduate School
of Management
Cincinnati, Cleveland, Columbus
(two locations), Dayton
216-328-8754
are 17 career-oriented concentrations available from DeVry:
accounting; e-commerce management; entrepreneurship; finance;
general management; health services; hospitality management;
human resources; information
security; information systems
management; international business; marketing; network and
communications management;
project management; public
administration; security
management; and sustainability
management.
Students can take classes on-site at
any of five Ohio locations, online,
or a combination of both.
Class location: MBA classes are
offered at DeVry University’s Keller
Graduate School of Management’s
Cincinnati, Cleveland, Columbus,
Columbus North and Dayton
campuses.
Online options: The MBA program is available online. The entire
program can be taken online.
HERZING UNIVERSITY
Campuses in Akron and Toledo,
online campus is headquartered in
Menomonee Falls, Wis.
866-508-0748
info@onl.herzing.edu
Types of MBAs available: Herzing University offers online MBA
programs that can be completed in
as little as one year. Students
choose and MBA specialization in
accounting, business management,
health care management, human
resources, marketing, project management, public safety leadership
or technology management.
According to the school, Herzing
University’s online graduate business programs were ranked No. 10
in the country for faculty credentials and training in U.S. News
& World Report’s 2013 online education survey. There are three full
semesters each school year instead
of two.
Class location: None in Ohio
Online options: Yes, 100% of the
program can be completed online.
Scholarship/financial aid available: Title IV funding is available.
ON THE WEB: For more on the MBA programs, including
admission requirements, tuition information and the
size of the program, log on to www.crainscleveland.com
Earn your Ohio MBA with monthly
workshops held right here in Cleveland.
www.ohio.edu/clevelandmba
20130826-NEWS--18-NAT-CCI-CL_--
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Page 1
LARGEST CUYAHOGA COUNTY EMPLOYERS
RANKED BY FULL-TIME EQUIVALENT LOCAL EMPLOYEES
Company
Address
Rank Phone/Website
FTE employees
Cuyahoga County
June 30, 2013
Total number of
employees in Ohio
Type of business
Top local executive
Title
1
Cleveland Clinic
9500 Euclid Ave., Cleveland 44195
(216) 444-2200/www.clevelandclinic.org
30,979
33,547
Health care provider
Delos M. "Toby" Cosgrove, M.D.
president, CEO
2
University Hospitals
(216) 844-1000/www.uhhospitals.org
12,719
15,668
Nationally recognized, integrated health care system
comprised of hospitals and outpatient health centers
Thomas F. Zenty III
CEO
3
U.S. Office of Personnel Management
1900 E St., NW, Washington 20415
(202) 606-1800/www.opm.gov
11,939
50,061
Federal government
C. Frank Figliuzzi
chair,
Cleveland Federal Executive Board
4
Progressive Corp.
6300 Wilson Mills Road, Mayfield Village 44143
(440) 461-5000/www.progressive.com
7,805
8,705
Insurance and financial company
Glenn M. Renwick
president, CEO
5
Cuyahoga County
1219 Ontario St., Cleveland 44113
(216) 443-7220/www.cuyahogacounty.us
7,544
7,544
County government
Edward FitzGerald
county executive
6
Cleveland Metropolitan School District
1111 Superior Ave., Cleveland 44114
(216) 574-8000/www.clevelandmetroschools.org
6,875
6,875
Education
Eric S. Gordon
CEO
7
City of Cleveland
601 Lakeside Ave., Cleveland 44114
(216) 664-2406/www.city.cleveland.oh.us
6,825
6,825
Municipal government
Frank G. Jackson
mayor
8
MetroHealth System
2500 MetroHealth Drive, Cleveland 44109
(216) 778-7800/www.metrohealth.org
5,396
5,396
Akram Boutros, M.D.
president, CEO
9
KeyCorp
127 Public Square, Cleveland 44114
(216) 689-6300/www.key.com
4,955
6,522
Bank holding company
Beth E. Mooney
chairman, CEO
10
Group Management Services Inc.
3296 Columbia Road, Suite 101, Richfield 44286
(330) 659-0100/www.groupmgmt.com
4,659
NA
Professional employer organization
Michael Kahoe
president
11
Case Western Reserve University
(216) 368-2000/www.case.edu
4,543
4,543
Higher education
Barbara R. Snyder
president
12
Giant Eagle Inc.
5300 Richmond Road, Bedford Heights 44146
(216) 292-7000/www.gianteagle.com
4,020
12,300
Food, fuel and pharmacy retailer
Bill Artman
senior vice president,
retail operations
13
Swagelok Co.
29500 Solon Road, Solon 44139
(440) 248-4600/www.swagelok.com
3,800
3,800
Designer and manufacturer of industrial fluid system
components
Arthur F. Anton
president, CEO
14
Sherwin-Williams Co.
101 W. Prospect Ave., Cleveland 44115
(216) 566-2000/www.sherwin-williams.com
3,221
4,065
Coatings and related products
Christopher M. Connor
chairman, CEO
15
U.S. Postal Service
2200 Orange Ave., Cleveland 44101
(800) 275-8777/www.usps.com
3,200
11,300
U.S. postal service
Melvin J. Anderson
acting district manager,
Northern Ohio District
16
Lincoln Electric Co.
22801 St. Clair Ave., Cleveland 44117
(216) 481-8100/www.lincolnelectric.com
2,793
2,793
Designer, developer and manufacturer of arc welding
products
John M. Stropki, executive
chairman
Christopher L. Mapes
president, CEO
17
Caesars Entertainment Co.
(216) 297-4777, (216) 662-8600/www.horseshoecleveland.com,
www.thistledown.com
2,302
NA
Horseshoe Casino Cleveland and ThistleDown Racino
are part of Caesars Entertainment Co., the world's
largest casino entertainment company.
Marcus Glover
general manager
17
Greater Cleveland Regional Transit Authority
1240 W. Sixth St., Cleveland 44113
(216) 566-5100/www.riderta.com
2,302
2,302
Public transportation
Joseph A. Calabrese
CEO, general manager, secretary/
treasurer
19
United
5300 Riverside Drive, Cleveland 44135
(216) 501-5170/www.continental.com
2,267
NA
Airline
Rich Lisser
managing director
20
Cuyahoga Community College
700 Carnegie Ave., Cleveland 44115
(800) 954-8742/www.tri-c.edu
2,185
2,193
Higher education
Alex Johnson
president
21
UPS
4300 E. 68th St., Cleveland 44105
(216) 641-3027/www.ups.com
2,041
9,926
Parcel delivery
Dwayne Meeks
president,
UPS Great Lakes District
22
State of Ohio
30 E. Broad St., Columbus 43215
(614) 466-2000/www.ohio.gov
2,040
48,342
State government
John R. Kasich
governor
23
Nestle Prepared Foods Co., a division of Nestle USA
30003 Bainbridge Road, Solon 44139
(440) 349-5757/www.nestleusa.com
1,978
2,498
Manufacturer of Stouffer's and Lean Cuisine prepared Frank Higgins
foods, Buitoni pasta and sauce, Hot Pockets and Lean president, CEO,
Pockets
Nestle Prepared Foods
24
ArcelorMittal
3060 Eggers Ave., Cleveland 44105
(216) 429-6000/www.arcelormittal.com
1,898
3,006
Steel manufacturer
Eric Hauge
vice president, general manager,
ArcelorMittal Cleveland
25
Southwest General
18697 Bagley Road, Middleburg Heights 44130
(440) 816-8000/www.swgeneral.com
1,809
1,809
Private, not-for-profit 354-bed top 100 hospital with a
90-year history
Thomas A. Selden
president, CEO
26
Medical Mutual of Ohio
2060 E. Ninth St., Cleveland 44115
(216) 687-7000/www.medmutual.com
1,800
2,400
Mutual company providing health and life insurance,
dental, vision products and TPA services
Rick A. Chiricosta
president, CEO, chairman
27
Eaton
1000 Eaton Blvd., Cleveland 44122
(440) 523-5000/www.eaton.com
1,728
3,226
Electrical, hydraulic, aerospace, truck and automotive
products
Alexander M. Cutler
chairman, CEO, president
28
Parma City School District
5311 Longwood Ave., Parma 44134
(440) 842-5300/www.parmacityschools.org
1,550
1,550
Public school system
Jeffrey Graham
superintendent
29
General Motors Co.
P.O. Box 33170, Detroit 48232-5170
(313) 556-5000/www.gm.com
1,500
9,000
Automotive manufacturing
Robert Parcell, plant manager,
Lordstown; Al McLaughlin, plant
manager, Parma
30
Cleveland State University
(216) 687-2000/www.csuohio.edu
1,483
1,483
Higher education
Ronald M. Berkman
president
31
Rockwell Automation Inc.
1 Allen-Bradley Drive, Mayfield Heights 44124
(440) 646-5000/www.rockwellautomation.com
1,467
2,009
Global provider of industrial automation control and
information solutions
Frank Kulaszewicz
architecture and software
Continued on PAGE 20
20130826-NEWS--19-NAT-CCI-CL_--
8/23/2013
3:56 PM
Page 1
19
WKNR: Station’s GM says moves were made in order to improve
WKNR’S NEW SCHEDULE
“It’s because we don’t have many
winning sports teams,” Mr. Gorman
continued. “I think you can directly
tie a sports format’s ratings with
how the teams are doing in a particular market.”
WKNR isn’t a subscriber to Arbitron Inc. — the media and marketing company that measures radio
audiences — but Mr. Gorman said
“there is a way you can kind of
mathematically figure” how ESPN
Cleveland is faring by analyzing the
other stations’ numbers.
His analysis: “Neither station is
doing great.”
A look at the reconfigured weekday
lineup that WKNR-AM, 850 unveiled last
week:
■ 6-9 a.m.: “Mike and Mike in the
Morning” (ESPN Radio)
■ 9 a.m.-1 p.m.: “The Really Big
Show” with Tony Rizzo and Aaron
Goldhammer
■ 1-3 p.m.: “Cleveland Browns Daily”
■ 3-6 p.m.: Bruce Hooley and
Je’Rod Cherry
■ 6-8 p.m.: “Munch on Sports” with
Mark “Munch” Bishop
■ Note: Various Browns, Ohio State
and ESPN programming will fill the
remainder of the day. ... WKNR’s prior
schedule included local programming
from 8 p.m. to midnight.
An odd alliance
In late March, the Cleveland
Browns unveiled a radio rights deal
unlike any other in the NFL. It involves in part the two all-sports-talk
stations — The Fan and WKNR —
and WNCX-FM, 98.5, carrying
Browns games in a unique gameday “triplecast.”
The three stations share Browns
flagship station rights, and The Fan
and WKNR divide more than 1,000
hours of annual programming produced by the team itself that includes game broadcasts, a two-hour
show called “Cleveland Browns
Daily,” weekly coach’s and preview
shows, and pre- and post-game
broadcasts.
Terms of the deal weren’t announced — the Browns only would
say it was a multiyear agreement —
but the speculation following last
week’s upheaval at WKNR was that
the rights agreement played a role
in the station trimming its staff.
Good Karma Broadcasting vice
president and ESPN Cleveland general manager Keith Williams tried to
dispel that notion.
“That is not true,” Mr. Williams
said.
Asked if the firings of Mr. Roda
(who had been with the station for
21 years), Mr. Reghi (a former
Cleveland Cavaliers television announcer), Mr. Burge and Mr. Zuppe
were motivated by finances, Mr.
Williams said, “Not in any way.”
Rather, Mr. Williams said he believes the juggled local lineup, combined with ESPN Radio’s “great”
programming, will result in a
stronger daily format.
Mr. Gorman — who spent 13
years as program director and operations manager at WMMS-FM,
100.7 and WHK-AM, 1420, and another seven as a vice president and
director of operations at WMJI-FM,
105.7 — isn’t buying the explanation.
Herschel
Williams
“My reaction is I’m sure it was a
financial decision,” he said. “Those
people will be replaced by ESPN
network programming.”
He continued, “Getting the
Browns had to cost them a few
bucks.”
The NFL club’s partnership with
WKNR and The Fan has resulted in
a staggering amount of team programming on the two stations.
WKNR, for example, airs a combined 12 hours of Browns shows
Monday through Friday (five installments of “Cleveland Browns Daily,”
plus weekly one-hour preview and
coach’s shows). On game days, the
station has four hours of team-affiliated pregame programming, followed by the game broadcast of at
least three hours.
The departures of Messrs. Burge,
Reghi, Roda and Zuppe doesn’t affect that partnership — the only
member of the quartet who was involved in team programming, Mr.
Reghi, remains a part of the Browns
Radio Network. However, they do
weaken the local programming of
one of the two stations in town that
spends a big part of its week discussing a team that plays 16 games
a year.
Asked for a comment on WKNR’s
shakeup, a Browns spokesman said
the team didn’t believe it was appropriate to discuss the radio station’s personnel matters.
“It doesn’t affect our broadcasts,”
the spokesman said. “It doesn’t involve us.”
Tom Herschel, senior vice president and market manager for
WKRK, also wasn’t eager to weigh in
on the reduced lineup of its rival.
“It’s probably not for me to say at
this point,” Mr. Herschel said. “It’s
kind of their business.”
Asked if his station could take advantage of its rival’s reduced local
nighttime programming, Mr. Herschel only would say The Fan “really” likes the lineup it has “top to
bottom.”
The Fan begins its local programming each day with a four-show
featuring Kevin Kiley and Chuck
Booms at 6 a.m. and wraps up the
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Mr. Williams said he doesn’t believe the changes at his station will
weaken WKNR’s longtime standing
as a go-to station for local Cleveland sports talk.
“I understand we’re not making
certain popular decisions in some
people’s minds, but we are doing
what we think is best for the team,”
he said.
Team is a common theme at
ESPN Cleveland.
Employees are referred to as
teammates, and the term even is
used for job openings at Good Karma Broadcasting. (At the top of the
company’s online job board is an
opening for a “Part-Time Programming Teammate” in Janesville,
Wis.)
In Mr. Gorman’s mind, any
sports radio team is helped greatly
by a city with successful professional clubs.
Cleveland, you might have figured, doesn’t quite match that description.
“Who wants to hear everyone
complain about sports teams right
now?” Mr. Gorman said. “We need
some fresh material.”
■
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local portion of its broadcasts at
midnight, when Ken Carman’s fivehour program concludes. WKRK’s
18 hours of daily local programming has been comparable with
WKNR, which had a 20-hour block
of shows from 4 a.m. to midnight
that, with the exception of ESPN
Radio’s “Mike and Mike in the
Morning,” was entirely local.
WKNR since has moved Mark
“Munch” Bishop’s early morning
show to 6 p.m. and — aside from
occasional Browns or Ohio State
football programming — will fill the
rest of its nights with ESPN Radio
broadcasts.
“We’re trying to get better,” Mr.
Williams, ESPN Cleveland’s general manager, said. “Every team
makes changes to its lineup. That’s
what we’re doing here.”
But if the moves aren’t motivated
by finances, as WKNR insists, why
would the station leave a gaping local programming hole in its nighttime schedule — one now in stark
contrast to its primary competitor?
“We did not concern ourselves
with what other people are doing,”
Mr. Williams said. “Just like we
don’t believe in Arbitron; we don’t
worry about what others are doing.”
Besides, WKNR doesn’t view Arbitron’s ratings as an accurate indicator of the market, Mr. Williams
said.
Arbitron’s research, industry
sources say, shows The Fan, two
years after its launch, still is struggling to gain a significant slice of the
Cleveland radio audience. One
source said WKRK’s most recent
share — the percentage of listeners
in a market who are tuned into a
particular station — was below 2.0.
“That’s pretty bad,” the source
Underwritten by:
20130826-NEWS--20-NAT-CCI-CL_--
20
8/23/2013
2:12 PM
Page 1
LARGEST CUYAHOGA COUNTY EMPLOYERS
RANKED BY FULL-TIME EQUIVALENT LOCAL EMPLOYEES
Company
Address
Rank Phone/Website
FTE employees
Cuyahoga County
June 30, 2013
Total number of
employees in Ohio
Type of business
Top local executive
Title
32
Kaiser Permanente
1001 Lakeside Ave., Suite 1200, Cleveland 44114
(800) 524-7371/www.kp.org
1,450
1,600
Health care provider and insurance company
Patricia D. Kennedy-Scott
regional president
33
Parma Community General Hospital
7007 Powers Blvd., Parma 44129
(440) 743-3000/www.parmahospital.org
1,440
1,440
Hospital
Terrence G. Deis
president, CEO
34
Ford Motor Co.
One American Road, Dearborn 48126
(800) 392-3673/www.ford.com
1,286
5,584
Automobile manufacturer
NA
35
Hyland Software Inc.
28500 Clemens Road, Westlake 44145
(440) 788-5000/www.hyland.com
1,238
1,238
Independent software vendor; developer of the
OnBase enterprise content management software
suite
Bill Priemer
president, CEO
36
Alcoa
1600 Harvard Ave., Cleveland 44105
(216) 641-3600/www.alcoa.com
1,200
1,203
Aluminum forgings for aerospace, automotive and
commercial transportation markets
Eric Roegner, COO, Alcoa
Investment Castings, Forgings and
Extrusions; president, Alcoa
Defense; Tim Myers, president,
Alcoa Wheel and Transportation
Products
37
Ernst & Young LLP
925 Euclid Ave., Suite 1300, Cleveland 44115
(216) 861-5000/www.ey.com
1,170
1,803
Assurance, advisory, tax and transaction advisory
services
C. Lee Thomas, managing partner,
Cleveland; Edward T. Eliopoulos,
managing partner, Akron
38
Invacare Corp.
One Invacare Way, Elyria 44035
(440) 329-6000/www.invacare.com
1,100
NA
Medical devices for the home and long-term care
markets
Gerald B. Blouch
president, CEO
39
Cuyahoga County Board of Developmental Disabilities
1275 Lakeside Ave. East, Cleveland 44114
(216) 241-8230/www.cuyahogabdd.org
1,099
1,099
Vocational, residential, educational, therapeutic and
other support services for children and adults with
developmental disabilities
Kelly M. Petty
superintendent, CEO
40
GE Lighting (unit of GE Home & Business Solutions)
1975 Noble Road, East Cleveland 44112
(216) 266-2222/www.gelighting.com
1,080
2,004
A global manufacturer and marketer of lighting
products
Maryrose T. Sylvester
president, CEO,
GE Lighting
41
Scott Fetzer Co.
28800 Clemens Road, Westlake 44145
(440) 892-3000/www.scottfetzer.com
1,071
1,683
Diversified manufacturer
Bob McBride, president, CEO
Kenneth J. Semelsberger
chairman
42
Philips Healthcare
595 Miner Road, Highland Heights 44143
(440) 483-3000/www.philips.com/healthcare
1,048
1,246
Manufacturer of medical diagnostic equipment
Gene Saragnese, exec. vp; CEO,
Imaging Systems; Dominic Smith,
general manager, computed
tomography and Cleveland site
43
Safeguard Properties Management LLC
7887 Safeguard Circle, Valley View 44125
(216) 739-2900/www.safeguardproperties.com
1,038
1,478
Inspection and maintenance of defaulted and
foreclosed properties nationally
Alan Jaffa
CEO
44
Cleveland Heights-University Heights City School District
2155 Miramar Blvd., University Heights 44118
(216) 371-7171/www.chuh.org
1,024
1,024
Public school district
Nylajean McDaniel
superintendent
45
FirstEnergy Corp.
76 S. Main St., Akron 44308
(800) 736-3402/www.firstenergycorp.com
962
7,369
Electric utility holding company
Anthony J. Alexander
president, CEO
46
Dave's Supermarkets
5300 Richmond Road, Bedford Heights 44146
(216) 763-3200/www.davesmarkets.com
932
985
Supermarkets
Daniel Saltzman
president
47
Ohio Savings Bank, A Division of New York Community Bank
(216) 588-4100/www.mynycb.com
930
986
Financial institution/bank
Jon K. Baymiller
president, CEO,
NYCB Mortgage Co. LLC
48
JPMorgan Chase & Co.
(877) 302-4273 /www.chase.com
890
1,834
Financial services
James R. Geuther, regional
president and head, commercial
banking business, NE Ohio
49
St. Vincent Charity Medical Center
2351 E. 22nd St., Cleveland 44115
(216) 861-6200/www.stvincentcharity.com
862
862
David F. Perse, M.D.
president, CEO
50
Menorah Park Center for Senior Living
27100 Cedar Road, Beachwood 44122
(216) 831-6500/www.menorahpark.org
861
919
Full continuum of care for seniors including residential
and community services
Steven Raichilson
executive director
51
PPG Industries Inc.
One PPG Place, Pittsburgh 15272
(412) 434-3131/www.ppg.com
857
2,400
Coatings and speciality products company
Keith Schneider
plant manager
52
Federal Reserve Bank of Cleveland
1455 E. Sixth St., Cleveland 44114
(216) 579-2000/www.clevelandfed.org
804
946
U.S. central bank
Sandra Pianalto
president, CEO
53
Third Federal Savings & Loan
7007 Broadway Ave., Cleveland 44105
(216) 441-6000/www.thirdfederal.com
753
896
Savings and loan
Marc A. Stefanski
chairman, president, CEO
54
Parker Hannifin Corp.
6035 Parkland Blvd., Cleveland 44124
(216) 896-3000/www.parker.com
750
3,640
Fluid power systems, electromechanical controls
Donald E. Washkewicz
chairman, president, CEO
55
Huntington National Bank
(800) 480-2265/www.huntington.com
734
NA
Financial services
Daniel P. Walsh Jr.
president,
Greater Cleveland region
56
Forest City Enterprises Inc.
50 Public Square, Suite 1100, Cleveland 44113
(216) 621-6060/www.forestcity.net
724
759
Owner and developer of real estate
Charles A. Ratner, chairman
David J. LaRue
president, CEO
57
Lakewood City School District
1470 Warren Road, Lakewood 44107
(216) 529-4092/www.lakewoodcityschools.org
717
717
Public school system
Jeffrey Patterson
superintendent
58
Weltman, Weinberg & Reis Co. LPA
323 W. Lakeside Ave., Suite 200, Cleveland 44113
(216) 685-1000/www.weltman.com
672
883
Creditors' rights representation and legal services
Scott S. Weltman
managing partner
59
Northeast Ohio Regional Sewer District
(216) 881-6600/www.neorsd.org
655
655
Wastewater treatment and stormwater management
Ciaccia
for all or part of 62 communities throughout Northeast Julius
executive director
Ohio
60
Jones Day
North Point, 901 Lakeside Ave., Cleveland 44114-1190
(216) 586-3939/www.jonesday.com
638
638
Legal services
Christopher M. Kelly
Cleveland partner-in-charge
61
Euclid City School District
651 E. 222nd St., Euclid 44123
(216) 261-2900/www.euclid.k12.oh.us
634
634
Public school district
Keith Bell
superintendent
Source: Information is supplied by the companies unless footnoted. PNC does not report local employee numbers. American Greetings did not respond to the 2013 survey.
Crain's Cleveland Business does not independently verify the information and there is no guarantee these listings are complete or accurate. The Book of Lists and enhanced
versions of most lists, with more companies, are available to purchase at www.crainscleveland.com.
RESEARCHED BY Deborah W. Hillyer
20130826-NEWS--21-NAT-CCI-CL_--
8/23/2013
2:19 PM
Page 1
Control: Minority deals can bridge gaps
Simultaneously, there’s a shortage of good companies for sale,
caused by the number of companies
that sold last year to avoid tax increases this year and business owners’ increased confidence in their
businesses and the economy, said
Ken Hirsch, a managing director
with Western Reserve Partners LLC.
The Cleveland-based investment
banking firm advised Fire-Dex in its
deal with Peninsula Capital.
Jim Hill, executive chairman and
chairman of the private equity
group at the Benesch law firm, said
private equity firms that historically have done only majority-stake
deals where they control companies are including in “next-generation fund” agreements with their
investors provisions that allow
them to do non-control deals.
Five to seven years ago, no more
than 15% to 20% of private equity
funds in the nation would invest as
minority investors in deals, Mr. Hill
estimated. Today, that percentage
has grown to 40%, maybe even
higher, he said.
“It is vastly accelerating,” Mr. Hill
said. “You hear it more and more.”
The reality is there are funds that
still only want majority stakes but
that aren’t going to say no to other
deals that allow them to put money
to work, said Floyd A. Trouten, equity director in transaction advisory services and tax for Solon-based
accounting firm SS&G Inc.
Mr. Trouten said private equity
funds “are not going to tell you that
they’re doing minorities.”
“They don’t want to lose their
edge,” he said. “But they’re doing it.
There is so much money to be put
to work that they can’t find enough
homes for it.”
Minority nears majority
Data from one industry tracker
backs up local advisers’ anecdotal
observations.
As of Aug. 22, the percentage of
private equity-backed deals in 2013
in the United States that were minority transactions stood at 39%,
according to Preqin, a leading
source of data on alternative asset
investments. That year-to-date figure compares with 32% in all of
2012, 30% in all of 2011 and 34% in
2010; the latter percentage is the
highest full-year number recorded
since 2006, the earliest year for
which figures are available.
Generally, majority, control investments involve a buyer acquiring 51% or more of a company,
holding a seat or seats on its board
and possessing the right to fire
management, liquidate a company
and more. Minority, non-control
investments involve the purchase
of less than 51% of a company and
leave key control of the company to
its management.
One reason Bill Mulligan said he
believes minority deals have increased is the desire by some parties
to bridge gaps in company valuation. If a company wants a higher
price in a control sale than a private
equity group wants to pay, the group
can buy a minority stake and build in
returns that still render the deal attractive to the buyer, said Mr. Mulligan, managing director of Primus
Capital, a Mayfield Heights private
equity firm that always has done a
limited number of minority deals.
Private equity groups’ struggle to
obtain debt financing for “mega
Pandora: These ads aren’t ‘annoying’
checking account. The city of Mentor promoted a beach party it hosted this past July and has been marketing the city as great place for
businesses and young professionals.
Expect the number of local Pandora ads to grow, Mr. Tartaglia said.
While dozens of advertisers already
have signed up in Cleveland, more
mature Pandora markets have
many more, he said, noting that
Pandora had about 200 advertisers
focusing on Detroit last month.
“Obviously, we’re just at the start
of that process in Cleveland,” said
Mr. Tartaglia, a Bay Village native.
In the meantime, various competitors to Pandora are attracting
their own listeners and advertisers.
Those streaming music services
represent a new advertising option
for local companies — and new
competition for traditional media
outlets, especially radio stations,
according to local radio consultant
John Gorman.
“We are going to see a massive
shift in listening and revenues going
online,” said Mr. Gorman, best
known for his stint as program director at WMMS-FM, 100.7, in the 1970s
and 1980s. “Pandora is the first case.”
Watch out, radio
For now, Pandora’s rivals are focusing on running ads for national
brands. For instance, on Spotify —
which lets listeners choose their own
songs, though it also has a Pandoralike radio feature — the only local
company you’ll likely hear mentioned is Progressive Corp. The Mayfield Village insurance company has
been running Spotify ads where its
popular Flo character asks listeners
to check out Progressive’s online
“Name Your Price” tool, regardless
of whether they’re “into polka, heavy
metal or heavy polka.” The company
also has been advertising on Pandora for years.
However, Spotify and other
younger music streaming services
— such as Google Play, which
launched in May, and iTunes Radio, which will launch in September — probably will focus more on
attracting local ads as they mature,
according to Nick Pecko, producer
and media buyer for Burges and
Burges Strategists, a Clevelandbased consulting, marketing and
communications firm.
Mr. Pecko said he doesn’t consider streaming music services to
be a direct competitor with local radio today. However, that situation
could change as more people start
driving cars connected to the Internet. Some new cars come with a
Pandora app built in.
“Then you can compare it a little
more with traditional radio,” Mr.
Pecko said.
Following the money …
Local companies that spoke with
Crain’s said they are happy with
how their Pandora ad campaigns
are going. Mr. Hartup said he has
seen an uptick in sales for the specials that Houlihan’s advertises,
and people have told him the ads
caught their attention.
Pandora runs fewer ads than radio, so he said listeners are less likely to change the channel — or log
off, in Pandora’s case.
“It’s only 30 seconds. It’s not annoying,” he said.
Kristie VanAuken, senior vice
president at Akron-Canton Airport,
made that same point.
In June, the airport started running audio, video and banner ads
on Pandora’s website and its mobile app. So far, the percentage of
people clicking through to the airport’s website far exceeds the clickthrough rate for most of the airport’s online display ads, Ms.
VanAuken said.
The airport decided to try Pando-
buyouts” from banks is another driver of the trend, said Ignatius Fogarty, head of private equity products for Preqin.
Also, the volume of private companies marketed for sale isn’t robust, said Andy Vollmer, the managing director who runs the
consumer and retail group and the
financial sponsors group for KeyBanc Capital Markets, the corporate and investment arm of Cleveland-based KeyCorp.
“If there were more companies
that were for sale, you probably
wouldn’t have the trend continue
to build like that,” Mr. Vollmer said.
Filling holes
More business owners are becoming familiar with this form of
capital, and many like the non-control alternative to selling outright,
according to Mr. Hirsch of Western
Reserve Partners.
“They don’t give up management
of the company,” he said. “They
don’t give up control of the economics of the business. They feel they
have control over the day-to-day decisions. They fill a hole in the balance
sheet that historically would have
forced someone to sell a business.
“We as a firm believe this will be
an increasing trend across indusra ads because those who use the service tend to be educated people with
enough disposable income to travel.
“They tend to track really well
with our core demographic,” Ms.
VanAuken said.
… and following the herd
Pandora also is a good fit for the
University of Akron’s target market
— future students and their mothers, said Wayne Hill, associate vice
president and chief marketing officer. Pandora can target those groups
because everyone who registers provides their sex, age and zip code.
Early results from the pilot cam-
tries, across businesses who are
looking to bring on equity partners
but not necessarily to sell a controlling interest in the business,” Mr.
Hirsch said.
Benesch’s Mr. Hill said minority,
non-control investing is “a riskier
investment because … you don’t
have complete control of the company.” But as long as the appropriate approval rights are put in place,
a minority investor still can have
the right to depose a company’s
leadership if certain metrics aren’t
met, and can have its say on the
sale of certain assets or the doling
out of big raises, Mr. Hill said.
Mr. Hill agrees that private equity’s increased interest in minority
investing should benefit business
owners, particularly those who may
be so leveraged that they cannot refinance or borrow more bank debt,
and those who simply don’t want to
sell.
“It gives them another alternative,” Mr. Hill said. “If you have a
minority investor who understands
your industry and (they) are sophisticated people, have contacts,
are strategic and understand corporate finance … that’s a pretty
good addition to your business.
Suddenly, you’ve got a lot more
firepower.”
■
paign the university launched in July
have been “very positive,” Mr. Hill
said, adding that the ads were “cost
effective.” Pandora charges rates
similar to what radio stations charge
per listener in a given market, according to Mr. Tartaglia, of Pandora.
Advertising on Pandora is part of
the city of Mentor’s long-term
move toward spending less on
print advertising and more on digital, said Kathie Pohl, director of
marketing and community relations for the city.
“This is simply a sign of the
times,” Ms. Pohl said. “You have to
go where the people are.”
■
a division of Layne Christensen Company
has been acquired by
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Volume 34, Number 34 Crain’s Cleveland Business (ISSN 0197-2375) is published weekly, except
for combined issues on the fourth week of December
and fifth week of December at 700 West St. Clair
Ave., Suite 310, Cleveland, OH 44113-1230. Copyright © 2013 by Crain Communications Inc. Periodicals postage paid at Cleveland, Ohio, and at additional mailing offices. Price per copy: $2.00.
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21
$SURXGPHPEHURI WKHSUHPLHULQWHUQDWLRQDODOOLDQFHRI LQYHVWPHQWEDQNLQJÀUPV
20130826-NEWS--22-NAT-CCI-CL_--
22
8/23/2013
3:48 PM
Page 1
View: Developers will install café, coffee shop or other retail
corporate 42 units in a mix of onebedroom units with tentative
monthly rents in a range of $1,000
to $1,800 and two bedrooms renting in a range of $1,596 to $1,911. A
banner will go up on the building
soon and its website at www.shorewayliving.com is scheduled to go
live this Tuesday, Aug. 27. The
suites are scheduled for occupancy
next June.
family behind Pat Catan’s Craft
Centers — Nationwide Insurance
Co. of Columbus and Tracy Green,
a founding principal of Ohio Realty
Advisors in Richfield.
The
project,
appropriately
dubbed “The Shoreway Building,”
is led by Nick Catanzarite, a lawyer
in the real estate unit of Walter
Haverfield LLP, and Mr. Green,
whose firm will serve as construction manager for the conversion
and property manager after the
building opens. The two most recently worked together on the
Goodyear Tire & Rubber Co. headquarters developed by Industrial
Realty Group of California, a large
client of Ohio Realty.
“My expertise is in representing
real estate developers and lenders
in doing these types of deals, which
enabled us to walk the family
through how we would put the deal
together,” Mr. Catanzarite said. He
said his father, Mike Catan, CEO of
Pat Catan’s, worried about the risk
but signed on as the plans came together.
The property has been in the
family’s hands as a warehouse
since 1986, though a sign on the
building’s exterior still bears the
name of industrial distributor Mau
Sherwood Corp., which moved to
Twinsburg years ago. The building
dates to 1918, when it was constructed for Globe Machine and
Stamping Co., and is on the National Register of Historic Places.
“This building was built like a
fortress,” Mr. Catanzarite said.
The conversion project was
Marous blazes a trail
STAN BULLARD
This fireplace and small library in the former tool and die shop must be retained
in this condition to keep the building’s historic tax credits.
awarded a state historic preservation tax credit. Such credits allow
companies to offset their federal
and state income taxes. Nationwide
Insurance is in for tax credits valued at about $4 million, Mr. Catanzarite said.
Up on the roof
The picture Mr. Catanzarite
paints of the building’s future is almost as cool as its past.
He said the developers will install
a café, coffee shop or other retail
use on part of the first floor and use
the building’s roof as an amenity
for gatherings by tenants to capitalize on views of Lake Erie and down-
town. When first constructed, the
building had a rooftop garden and
an observatory.
The building originally was built
with a social club on its fourth floor
that encouraged workers to linger
longer at work and socialize with
their families after work, Mr. Catanzarite said. Space that once housed
a dance floor and two bowling alleys
will turn into apartments. But to
earn the historic tax credits, a small
brick-lined room with wood beams
and a huge fireplace that survives
untouched from the social club
must be retained; it will become part
of a tenant’s penthouse suite.
The Shoreway Building will in-
Between now and then, workers
hired by Willoughby-based Marous
Brothers Construction will transform the building’s floors into lofts
with ceilings either 12 or 14 feet
high. The units will incorporate the
old brick walls with polished concrete floors and contemporary
kitchen and bathroom finishes.
Part of the first floor will include
a 42-car parking garage and room
for bike racks as the developers expect their tenants to use bikes to
enjoy Edgewater Park.
Mr. Catanzarite said Marous was
selected for the project because it is
familiar with the Detroit Shoreway
neighborhood as the developer and
builder of Battery Park, a condominium complex on the east side of West
76th Street. A row of Battery Park units
faces the Shoreway Building.
Mr. Catanzarite said the project
is possible because of the Battery
Park project, the four decades the
nonprofit Detroit Shoreway Development Corp. has spent redeveloping the area, and the city’s investment in infrastructure around the
neighborhood.
The $6 million makeover of the
pedestrian tunnel under the Norfolk & Southern railroad tracks and
the Shoreway opened July 2 and
provides direct access to the lake
from in front of the building. Also,
a new interchange providing car
access to the Shoreway from West
73rd Street is under construction in
a $33 million project by the Ohio
Department of Transportation. The
link will slash an already short
downtown commute.
Room for more
To Jeff Ramsey, executive director of Detroit Shoreway Development Corp., the project is significant because it proves a private
developer will invest in new rental
housing in the city neighborhood.
“We’ve undertaken residential
projects that no private developer
would tackle. Our projects have
been designed to be catalytic to
show private investors there is a
market,” Mr. Ramsey said. “This
shows the value of a strategic plan,
strategic investments by the city of
Cleveland and patience by many
dedicated (community) partners.”
Mr. Ramsey said there is no question about residential demand, with
waiting lists in place for downtown,
Ohio City and nearby apartments.
He said a market study commissioned by Detroit Shoreway sees unmet demand for more than 1,000
units on the city’s Near West Side.
Mr. Green said The Shoreway
Building’s developers are so confident of demand and their project
he wishes they had room for more
units than the building can accommodate.
■
REAL ESTATE CLASSIFIED
Phone: (216) 522-1383 Fax: (216) 694-4264
Contact: Denise Donaldson
E-mail: DDonaldson@crain.com
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20130826-NEWS--23-NAT-CCI-CL_--
8/23/2013
3:48 PM
Page 1
23
THEINSIDER
THEWEEK
AUGUST 19 - 25
The big story:
A recently formed joint venture between the Cleveland Clinic and Community Health Systems — a large, publicly traded
hospital company in Franklin, Tenn., that leases
or operates 135 hospitals in 29 states — is in talks
to acquire Akron General Health System. Terms
of the proposed deal were not disclosed, but if it
moves forward, Akron General would convert to
a for-profit entity. The proposed purchase,
which is expected to be finalized by late 2013 or
early 2014, is the first big announcement
between Community Health Systems and the
Clinic since they announced last March their
formation of a “strategic alliance.”
A home run:
Home sales in Northeast Ohio
and statewide showed big gains last month over
levels of July 2012, as the housing market posted
its 25th straight month of
year-over-year improvement in Ohio. The Ohio
Association of Realtors
reported the number of
homes sold in the 17county area covered by
the Northeast Ohio Real Estate Exchange
climbed 23.5% last month, to 4,277 units from
3,463 a year ago. The average sales price increased
7%, to $150,340 from $140,512. Statewide, the
number of homes sold last month rose 25.8%, to
13,354 from 10,619 in July 2012.
Group effort: Five groups of developers have
thrown their hats into the ring for a chance to
develop the lakefront in downtown Cleveland.
The groups responded to a call from the city of
Cleveland, which issued a request for qualifications to flush out developers with the experience
and capacity to finance and create large-scale
projects and that would be interested in developing one or both of two parcels totaling 28
acres along the waterfront. Three of the five
groups are offering to develop both parcels.
They agree:
Members of the United Steelworkers union ratified a new collective bargaining
agreement with Akron-based Goodyear Tire &
Rubber Co. The agreement, which represents
more than 8,000 employees at six Goodyear
plants, including one in Akron, was passed by a
3-to-1 margin. There are 265 employees under
the contract at the Akron plant.
Steaking his claim: Legendary Cleveland
Browns quarterback Bernie Kosar will lend his
name and celebrity to plans for a steakhouse at
the Hard Rock Rocksino Northfield Park. Mr.
Kosar announced the restaurant deal at a news
conference and topping-off ceremony for the
$265 million gaming center. The 408-seat steakhouse will be called Kosar’s Wood-Fired Grill.
The restaurant will be run by the gaming group.
Sounds good: The Cleveland Orchestra received
a $2.5 million gift from The Eric & Jane Nord
Family Fund of Oberlin to support educational
programming for students of all ages and concert access for young people. The contribution is
one of the largest the orchestra has received for
education. The Nord Family Fund will contribute $250,000 toward annual operating costs
associated with delivering education and community programs, and $2.25 million to the creation of an endowment fund.
Adding capacity: Specialty chemicals maker
Lubrizol Corp. of Wickliffe opened a 400,000square-meter additives manufacturing plant in
Zhuhai, Guangdong, China, part of a long-term
plan to grow operations in Asia. The plant also is
a key part of a 10-year phased investment plan,
launched in 2010, to upgrade operations and
increase global capacity in additives, Lubrizol
said. Construction on the plant began in October
2010.
REPORTERS’ NOTEBOOK
BEHIND THE NEWS WITH CRAIN’S WRITERS
Sorry you didn’t get
the memo about payday
■ Adding injury to insult, the editorial staff
of The Plain Dealer learned last week their
payday was changing. But they didn’t get
the email until the morning of payday.
In an email staffers
received at 10:30 a.m.
Thursday, Aug. 22, Virginia Wang, general
manager of Plain Dealer
Publishing Co., wrote,
“You were not paid today. You will be paid tomorrow.”
The email went on to say that because of a
technical error, an Aug. 7 email announcing
the change didn’t reach Plain Dealer newsroom employees. The email stated that the
company would cover any overdraft charges
or other penalties incurred by employees
because of the glitch.
Earlier in the week, PD editorial staff
members were told they would be moving
out of their longtime home at 1801 Superior
Ave. to an as-yet undetermined location
as part of the strategy by parent company
Advance Publications Inc. to emphasize its
digital cleveland.com over the printed Plain
Dealer. — Jay Miller
stopped one tenacious Case Western Reserve
University researcher, Nicole Ward, from
securing within a year three National Institutes of Health grants totaling $4.2 million.
“It doesn’t happen very often,” said Dr.
Ward, an associate professor of dermatology
at the university. “I was very aggressive.”
“I’m a big nerd,” she said.
“This stuff gets me excited.”
Dr. Ward’s latest award will
enable her team to study the
role the nervous system plays
in psoriasis — an inflammatory
autoimmune disease characterized by raised areas of red, scaly, itchy and
often painful patches of skin. Psoriasis is the
nation’s most common autoimmune disease,
affecting as many as 7.5 million Americans.
“I want to improve patient care, change
the understanding of disease in my field,
make an impact and have some influence,”
Dr. Ward said. “The bottom line is the
patients and their families and making their
lives better.” — Timothy Magaw
HGR auction will leave
old stuff in the dust
■ It’s no secret the federal government’s quest
to rein in spending through sequestration
has siphoned the amount of grant dollars
doled out to researchers. Still, that hasn’t
■ HGR Industrial Surplus of Euclid, a buyer
and reseller of used machinery, is trying a
new tactic to attract customers.
This Tuesday, Aug. 27, HGR will host an
auction at its headquarters, 20001 Euclid
Ave., with auctioneer Buddy Barton. Glenn
McLaren, chief marketing officer at HGR,
said the company’s equipment buyers have
discovered there’s a segment of the population that regularly turns to auctions to buy
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Excerpts from recent blog entries on
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Among other features:
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The boot also includes an antibacterial
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that provides blood-borne pathogen protection. It’s available in whole sizes 4-16, and in
half sizes 8.5-12.5.
For information, visit www.firedex.com.
Send information about new products to
managing editor Scott Suttell at
ssuttell@crain.com.
Forest City wraps up big deal
■ Newsday took a close look at how Forest
City Ratner Cos., the New York outpost of
Cleveland-based Forest City Enterprises
Inc., won the big contract to redevelop
Nassau Coliseum on Long Island.
It apparently involved a lot of food.
“Every Tuesday and Thursday for the last
month, Forest City Ratner Cos. executive
Jim Lester and two colleagues spent up to
10 hours at a conference table in the Nassau
County offices in Mineola, eating wraps and
macaroni salad and negotiating his
company’s contract to redevelop Nassau
Coliseum and the plaza around it,”
Newsday reported.
“Across the table sat two lawyers hired to
get the best deal possible for Nassau. They
poked and prodded, asking for better terms
on everything from who paid for capital
improvements to how much the county
would get before construction even began,”
according to the story.
The last negotiating
stretch “lasted about
four weeks, ultimately
ending with last week’s
announcement
that
Forest City Ratner won
the bid with a final lease
that gives Nassau County
Bruce Ratner
8% of all gross revenue,”
the newspaper noted.
But it was among the tougher negotiations for developer Bruce Ratner, who
heads Forest City Ratner. “This was not
easy,” he told Newsday.
Family matters
■ Northeast Ohio landlord/blogger Bert
Stratton weighed in with a New York Times
op-ed piece about the joys of his unglam-
their used goods. Mr. McLaren said HGR has
taken part in auctions in the past, but this
will be the first one it has hosted.
Mr. McLaren said the auction will include
about 200 pieces of “good equipment” that
represent what’s typically available in HGR’s
showroom. It isn’t a liquidation or clearance
sale featuring the oldest, “dustiest” items
HGR has, he said.
The auction begins at 10 a.m. and will be
accessible at www.bidspotter.com.
— Rachel Abbey McCafferty
Some growth capital
for Growth Capital
■ A new partnership means Growth Capital
Corp., the Cleveland nonprofit that lends
money to small businesses through two
Small Business Administration programs,
has millions more dollars to lend.
Goldman Sachs is lending the SBA-certified
company $5 million that Growth Capital
then can lend to businesses, all backed by
the SBA’s guarantee. The cash will allow
Growth Capital to scale up faster, said John
Kropf, its president and executive director.
“Many of us don’t have sufficient capital
to make as many loans as we would like to,”
Mr. Kropf said of lenders in the SBA’s Community Advantage program, through which
lenders provide both loans and technical
assistance. “It’s bridging our growth.”
Goldman Sachs, which has pledged the
capital through its 10,000 Small Businesses
program, also is granting Growth Capital
$950,000 to support its operations.
— Michelle Park
orous family business.
“I’m a landlord,” he writes. “It isn’t very
glamorous. I just got a call: ‘There’s a smell
of urine in the front of my apartment. Something is leaking from above.’ But at least it’s
pretty lucrative and stable.”
That’s what he tells his 32-year-old son, a
recently minted lawyer. “Come on, Son,
make the rounds with me,” Mr. Stratton
wrote. “He has taught English in Korea; he
has been a newspaper reporter; he has
passed the Ohio bar. But things are tough
out there; right now he’s an hourly contract
worker at a big law firm.”
His other son is 25 and a musician in a
band called Vulfpeck in Los Angeles. Neither
son wants to be a landlord.
Mr. Stratton’s father’s properties were
prewar buildings in Lakewood. His dad
started the business in 1965 and “I kept it
going and expanded it,” Mr. Stratton wrote.
He concluded this way: “At different times,
I’ve had my sons cleaning halls and collecting
rent. They asked, ‘I went to college for this?’
Quite possibly. I did. I’m a proud dad; my
sons will probably be big successes. But I
can’t help hoping at least one of them comes
back to the family business.”
Get a load of this
■ Ohio students are carrying a particularly
heavy debt load when they leave college,
according to this study from NerdWallet.com.
Data from the Institute for College Access
and Success and Peterson’s College Guide
show the average debt for an Ohio student
is $28,683 and 68% of students graduate
with debt. That earned Ohio a spot on the
survey’s “10 worst states for debt” list, based
on a ratio of the amount of debt and the
number of students who have it.
The best state for student debt was
Hawaii, with 38% of students accruing debt
and average debt of $17,447. The worst: New
Hampshire, with 75% of students incurring
debt and average debt of $32,440.
20130826-NEWS--24-NAT-CCI-CL_--
8/23/2013
2:12 PM
Page 1
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Who`s in control? Funds don`t have to be

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