Author Topic: Cleveland: General Business & Economic News  (Read 96632 times)

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Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2670 on: May 15, 2018, 01:11:39 AM »
^We had a postal savings plan from 1910 to 1967. It was very popular in the 20s and 30s with small savers. Then the banks decided to compete and Pres. Johnson shut it down. 
There's nothing wrong with optimism, as long as you don't get your hopes up.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #2671 on: May 15, 2018, 09:36:54 AM »
I didn't even know this existed....

U.S. Bank to lay off 260 from Bedford mortgage office
http://www.cleveland.com/business/index.ssf/2018/05/us_bank_to_lay_off_260_from_be.html

Yeah the building is tucked away in the railroad "valley" by Rockside, almost in Maple Heights.   I wouldn't have known about if my cousin didn't work there awhile and I work in Bedford.

Offline X

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Re: Cleveland: General Business & Economic News
« Reply #2672 on: May 15, 2018, 12:31:35 PM »
When I studied in the Netherlands, I did most of my banking at the post office.  I don't know what the actual set up was, though- if there was a private bank that was partnered in, of if I was going direct through the post office.  Pretty sure I paid my rent there, too.

Offline StapHanger

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Re: Cleveland: General Business & Economic News
« Reply #2673 on: May 15, 2018, 12:44:57 PM »
"Postal banking" is fairly common in other countries and there's some interest in in Washington reviving it here in the US: https://slate.com/business/2018/04/kirsten-gillibrands-ambitious-postal-banking-bill.html

Offline Sir2geez

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Re: Cleveland: General Business & Economic News
« Reply #2674 on: May 17, 2018, 01:20:43 PM »
Plug and Play head invites local corporations to his business accelerator

The co-founder and CEO of what has been called "the world's largest startup accelerator" is inviting Cleveland's old-line businesses to join in his 21st century way of building businesses.

"I believe if you bring the large corporations together with entrepreneurs it can create value for everyone," he said in his keynote remarks. "We're going to build great innovations together."

http://www.crainscleveland.com/article/20180516/news/161866/plug-and-play-head-invites-local-corporations-his-business-accelerator

Offline Sir2geez

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Re: Cleveland: General Business & Economic News
« Reply #2675 on: May 27, 2018, 08:26:07 AM »
Industrial projects have yet to reach peak in NEO

The volume of industrial building projects in Northeast Ohio is continuing to climb and, incredibly, experts expect it to continue growing. Real estate brokers are reaching back in memory — far back — to find a period that's as active as this one.

"My analogy is 1999 or so," said George Stevens, a vice president focused on the industrial market in CBRE's Cleveland office. "There's going to be a run in our market the next several months like we haven't seen in years."

Ray Fogg Jr., president and CEO of Ray Fogg Corporate Properties in Valley View, said staffers at his family owned industrial construction, real estate development and ownership firm "have seen a surge in companies with interest and willingness to invest in bricks and mortar to expand their facilities or build new ones."

http://www.crainscleveland.com/article/20180527/news/163076/industrial-projects-have-yet-reach-peak-neo

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2676 on: May 27, 2018, 04:57:38 PM »
Industrial projects have yet to reach peak in NEO

The volume of industrial building projects in Northeast Ohio is continuing to climb and, incredibly, experts expect it to continue growing. Real estate brokers are reaching back in memory — far back — to find a period that's as active as this one.

"My analogy is 1999 or so," said George Stevens, a vice president focused on the industrial market in CBRE's Cleveland office. "There's going to be a run in our market the next several months like we haven't seen in years."

Ray Fogg Jr., president and CEO of Ray Fogg Corporate Properties in Valley View, said staffers at his family owned industrial construction, real estate development and ownership firm "have seen a surge in companies with interest and willingness to invest in bricks and mortar to expand their facilities or build new ones."

http://www.crainscleveland.com/article/20180527/news/163076/industrial-projects-have-yet-reach-peak-neo

Cool, but where will they be built? On clean/green land at the urban fringe that the immobile impoverished cannot reach due to no public transportation, and the development exacerbates urban sprawl, pulling the inner-city abandonment and poverty deeper into inner-ring suburbs? Or will it be on land far from freeways and that's so polluted that few will touch it because they don't want to go through the cost and red tape of cleaning it up, only to run the risk of getting sued if a worker gets sick in 5 years? The city of Cleveland has cleaned up some land (the 65-acre Cuyahoga Valley Industrial Center off I-77, the 23-acre Midland Commerce Park at West 110th and the 5-acre Trinity Development Site) but those are too small to reverse the tide of industrial sprawl. And most of Trinity was used for the city's new animal kennel -- a failure of urban planning if there ever was one.

I suspect that a lot of land will open up soon along the Opportunity Corridor, and that is a good thing. It is accessible to the people who need the jobs the most, assuming they are trained for it or can access the training (both in cost and in transportation to training programs).

But look at the triangular area near Hayden Avenue/CSX Railroad, south of I-90/CSX, and Euclid Avenue/Norfolk Southern railroad. This is the new Forgotten Triangle which includes the cities of Cleveland, East Cleveland and Euclid. In it, you will see an incredible amount of underutilized or vacant industrialized land. This is next to some of the most impoverished neighborhoods in America. This entire area needs a massive do-over combined with an extension of the Red Line for jobs access, a re-envisioning of distributor bus routes including Laketran, and two or three truck-route roadways to/from I-90 to reduce the impact on neighborhoods from new truck traffic.
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #2677 on: May 29, 2018, 11:56:46 AM »
Industrial projects have yet to reach peak in NEO

The volume of industrial building projects in Northeast Ohio is continuing to climb and, incredibly, experts expect it to continue growing. Real estate brokers are reaching back in memory — far back — to find a period that's as active as this one.

"My analogy is 1999 or so," said George Stevens, a vice president focused on the industrial market in CBRE's Cleveland office. "There's going to be a run in our market the next several months like we haven't seen in years."

Ray Fogg Jr., president and CEO of Ray Fogg Corporate Properties in Valley View, said staffers at his family owned industrial construction, real estate development and ownership firm "have seen a surge in companies with interest and willingness to invest in bricks and mortar to expand their facilities or build new ones."

http://www.crainscleveland.com/article/20180527/news/163076/industrial-projects-have-yet-reach-peak-neo

Cool, but where will they be built? On clean/green land at the urban fringe that the immobile impoverished cannot reach due to no public transportation, and the development exacerbates urban sprawl, pulling the inner-city abandonment and poverty deeper into inner-ring suburbs? Or will it be on land far from freeways and that's so polluted that few will touch it because they don't want to go through the cost and red tape of cleaning it up, only to run the risk of getting sued if a worker gets sick in 5 years? The city of Cleveland has cleaned up some land (the 65-acre Cuyahoga Valley Industrial Center off I-77, the 23-acre Midland Commerce Park at West 110th and the 5-acre Trinity Development Site) but those are too small to reverse the tide of industrial sprawl. And most of Trinity was used for the city's new animal kennel -- a failure of urban planning if there ever was one.

I suspect that a lot of land will open up soon along the Opportunity Corridor, and that is a good thing. It is accessible to the people who need the jobs the most, assuming they are trained for it or can access the training (both in cost and in transportation to training programs).

But look at the triangular area near Hayden Avenue/CSX Railroad, south of I-90/CSX, and Euclid Avenue/Norfolk Southern railroad. This is the new Forgotten Triangle which includes the cities of Cleveland, East Cleveland and Euclid. In it, you will see an incredible amount of underutilized or vacant industrialized land. This is next to some of the most impoverished neighborhoods in America. This entire area needs a massive do-over combined with an extension of the Red Line for jobs access, a re-envisioning of distributor bus routes including Laketran, and two or three truck-route roadways to/from I-90 to reduce the impact on neighborhoods from new truck traffic.

The main roadblock here, as it has been for decades, is CERCLA.  For eight years, nothing could be done about that.   It’s way too strict and way too cumbersome, but it’s a jobs programs for environmental lawyers, consultants, labs, etc.   They are influential in the environmentalist movement, which in turn is a key part of the progressive-left coalition that got Obama elected.

Now….you have a President with a lot of background in urban real estate that craves a reputation for making a difference.  He has a pro business EPA boss and no need to worry about antagonizing the environmentalists because he’s already done so.

Many cities have this precise problem.  Cleveland could probably take the lead on a CERCLA reform movement and get other cities to join in.

This could include reforms to push containment over removal, but most importantly to shield new industrial companies (and their lenders) from liability.  Qualifying requirements could include a workforce that lives within an adjoining district that has an unemployment rate more than 150% the national average, and obtaining ISO 14000 certification within 3 years of manufacturing startup.


Offline 327

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Re: Cleveland: General Business & Economic News
« Reply #2678 on: May 29, 2018, 12:06:51 PM »
The real problem is we ran out of superfund.  Removal should still be prioritized over containment.  But I agree that CERCLA reform would do wonders for cities like Cleveland.

Offline 327

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Re: Cleveland: General Business & Economic News
« Reply #2679 on: May 29, 2018, 01:21:37 PM »
Semi-related, this story highlights an instance of Vibrant Greenspace policies doing harm to industrial businesses.  At the end it says Towpath planners tried to accommodate concerns raised by the businesses, but suggests there was only so much they could do when ramming their project through an active industrial area was the overwhelming priority.  Some of the business concerns seem more significant (truck access blocked) than others (parking reduced).

https://www.cleveland.com/expo/erry-2018/05/027210fffd4281/towpath_trail_extension_troubl.html#incart_m-rpt-1

Offline MuRrAy HiLL

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Re: Cleveland: General Business & Economic News
« Reply #2680 on: May 29, 2018, 01:26:33 PM »
^Cross-posted in the Towpath thread as well:  https://www.urbanohio.com/forum/index.php/topic,1375.msg915964

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2681 on: May 30, 2018, 12:05:54 AM »
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #2682 on: May 30, 2018, 08:02:02 AM »
Semi-related, this story highlights an instance of Vibrant Greenspace policies doing harm to industrial businesses.  At the end it says Towpath planners tried to accommodate concerns raised by the businesses, but suggests there was only so much they could do when ramming their project through an active industrial area was the overwhelming priority.  Some of the business concerns seem more significant (truck access blocked) than others (parking reduced).

https://www.cleveland.com/expo/erry-2018/05/027210fffd4281/towpath_trail_extension_troubl.html#incart_m-rpt-1

Parking reduced is pretty significant for a restaurant/bar.

Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #2683 on: May 31, 2018, 09:05:40 AM »
IBM Watson Health reportedly laying off 50-70% of its workforce.  Cleveland impacted as well:  http://www.modernhealthcare.com/article/20180529/NEWS/180529928

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2684 on: May 31, 2018, 09:14:09 AM »
And the city provided a financial aid package for their new office building, owned by Hemingway and to be leased by IBM, just to move a few miles from downtown. Just two years ago, IBM expected to increase its local employment from 170 to 300 jobs by the end of this year....

https://www.cleveland.com/business/index.ssf/2016/08/incentives_for_ibm-explorys_of.html
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline YABO713

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Re: Cleveland: General Business & Economic News
« Reply #2685 on: May 31, 2018, 10:07:39 AM »
So wait, is IBM still increasing its Cleveland presence or what?

Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #2686 on: May 31, 2018, 10:25:05 AM »
^They are clearly having some issues if cutting half or so of all staff nationwide, so who knows what's going on internally and where they think they can best turn things around.....I would say at the moment, expansion in any location in on hold......  though if Cleveland were smart, they'd position the city to say, "save costs and consolidate locations and do so in Cleveland."  I don't have much hope for the City doing that, but maybe Bioenterprise could make that pitch if anyone knows anyone there.....

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2687 on: June 01, 2018, 12:04:29 PM »
#TwoTomorrows "proves what anyone paying attention should already know - that, despite the best efforts of a lot of smart people, the scope and breadth of the region's economic unpreparedness is breathtaking."
https://articles.cleveland.com/opinion/index.ssf/2018/05/if_only_our_regions_leaders_we.amp?__twitter_impression=true
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Online mu2010

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Re: Cleveland: General Business & Economic News
« Reply #2688 on: June 01, 2018, 12:40:17 PM »
Ouch. Sad but true.

Online mu2010

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Re: Cleveland: General Business & Economic News
« Reply #2689 on: June 01, 2018, 12:48:28 PM »
One other thing - In my opinion, it's a cop-out to always blame "leaders." Larkin would never say this in the Plain Dealer, but the reality is that leaders are a reflection of the people they are leading. Many people in this region, unfortunately, tend to be sheltered and unimaginative. Maybe this is due to decades of stagnation - all the people that aren't like that keep leaving. But there you have it.

Offline Sir2geez

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Re: Cleveland: General Business & Economic News
« Reply #2690 on: June 01, 2018, 01:40:34 PM »
We need more of this...more workforce development

Cuyahoga Community College to begin $10 million expansion of its Advanced Technology Training Center

The expansion, which is being paid for through the bond issue passed in November, will add 12,000 square feet to the center. Also, renovations to 14,000 square feet of the center "will allow for the full integration of the College's manufacturing and engineering departments and increased alignment of workforce programs," the release stated.

Approval of the bond will raise about $227.5 million for construction and improvements at the college.

http://www.crainscleveland.com/article/20180601/news/163626/cuyahoga-community-college-begin-10-million-expansion-its-advanced

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2691 on: June 01, 2018, 01:47:58 PM »
Flexjet pilots voted to decertify the Teamsters; and the vote wasn't close.  That's pretty surprising in the almost totally unionized aviation business.

http://www.crainscleveland.com/article/20180601/news/163621/flexjet-pilots-oust-teamsters-only-two-years-after-joining-union

« Last Edit: June 01, 2018, 01:50:18 PM by Dougal »
There's nothing wrong with optimism, as long as you don't get your hopes up.

Online bumsquare

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Re: Cleveland: General Business & Economic News
« Reply #2692 on: June 01, 2018, 01:48:49 PM »
I would say maybe the complete collapse of the industrial economy and centuries of racist policy in America has much more to do with Cleveland’s economic malaise than buildings. Every city has convention centers and sports stadiums. Maybe people just have a hard accepting that economies result from mostly circumstantial and uncontrollable factors.

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2693 on: June 01, 2018, 01:48:57 PM »
Dupe.


There's nothing wrong with optimism, as long as you don't get your hopes up.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2694 on: June 04, 2018, 01:06:16 PM »
“We have underperformed in economic development for more than a decade...who (among the civic leadership) has been forced out of a job?"

ANSWER: NONE

https://t.co/pw7mJ7tV4Y from Crains
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline YABO713

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Re: Cleveland: General Business & Economic News
« Reply #2695 on: June 04, 2018, 01:09:51 PM »
“We have underperformed in economic development for more than a decade...who (among the civic leadership) has been forced out of a job?"

ANSWER: NONE

https://t.co/pw7mJ7tV4Y from Crains

My unpopular opinion: Lansi would've done a better job.

Offline mack34

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Re: Cleveland: General Business & Economic News
« Reply #2696 on: June 04, 2018, 01:21:36 PM »
“We have underperformed in economic development for more than a decade...who (among the civic leadership) has been forced out of a job?"

ANSWER: NONE

https://t.co/pw7mJ7tV4Y from Crains
This article is spot on and depressing....Columbus is kicking our collective butts with economic growth and development.  And the young leaders who can help change this all seem to be moving....to Cbus.

Offline freefourur

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Re: Cleveland: General Business & Economic News
« Reply #2697 on: June 04, 2018, 01:29:22 PM »
I think a lot of changes are needed at GCP and TeamNEO.  GCP is basically the same people as Cleveland Tomorrow who've been doing the same stuff since the 1980s.  TeamNEO is not even in the same league as Columbus 2020.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #2698 on: June 04, 2018, 02:11:59 PM »
One other thing - In my opinion, it's a cop-out to always blame "leaders." Larkin would never say this in the Plain Dealer, but the reality is that leaders are a reflection of the people they are leading. Many people in this region, unfortunately, tend to be sheltered and unimaginative. Maybe this is due to decades of stagnation - all the people that aren't like that keep leaving. But there you have it.

Stodgy machine politics don't reward being innovative and certainly don't reward being right when the "consensus" is wrong.   Seniority in the system is paramount and by the time one is senior one's mindset has been captured by the system.  The same thing happens to big corporations, but with government it's worse because measures of success and failure are more abstract.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2699 on: June 04, 2018, 02:20:24 PM »
Which is why we need more Republicans and other competitive candidates in Cleveland government.
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.