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Author Topic: Cleveland: General Business & Economic News  (Read 34193 times)

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Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #2430 on: February 02, 2018, 10:21:13 AM »
NYT: The U.S. economy added 200,000 jobs in January. It was the 88th straight month that hiring increased, the longest such streak on record.


Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2431 on: February 02, 2018, 10:51:04 AM »
Who could lead a new joint venture of Amazon, JP Morgan, and Berkshire Hathaway in healthcare?

http://www.crainscleveland.com/article/20180130/news01/150311/who-could-lead-new-health-care-company-started-three-billionaires

Toby Cosgrove is not the worst candidate on that list.  If he's the pick, might the organization be located in Cleveland?  It's much less far-fetched than Amazon HQ2.

Kind of buried in the Cosgrove retirement stories is this little item:

"The money raised in this grass-roots effort will support innovation, research, education and patient experience. " The CCF spokesperson is referring to $50 million raised by the Clinic to honor Cosgrove; he added they intend to raise more.  It sounds as if the CCF $50 million would fit right into the Amazon/Berkshire/Morgan joint venture.

Maybe I'm only teasing myself here, but today's WSJ said the A/B/M alliance is planning everything to work with IBM Watson software. And where is the newest Watson installation? East 105th and Cedar. Pieces are falling into place.
« Last Edit: February 04, 2018, 12:46:18 PM by Dougal »
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Offline Cleburger

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Re: Cleveland: General Business & Economic News
« Reply #2432 on: February 02, 2018, 07:46:26 PM »
Mayor Frank Jackson's 2018 budget calls for filling hundreds of vacant jobs by March 31
Updated Feb 1, 6:01 PM;Posted Feb 1, 5:20 PM
By Robert Higgs, cleveland.com

Cleveland's improving economy and the increase to the city's income tax that took effect in 2017 have provided enough revenue to stabilize the city's budget, Jackson said.

That means that the budget anticipates enough revenue coming in to pay for all 2018 expenses without having to rely on money carried over from the previous year. 

MORE:
http://www.cleveland.com/metro/index.ssf/2018/02/mayor_frank_jacksons_2018_budg.html#incart_river_mobile_home_pop


Does anyone know how many people the City of Cleveland employed in 1950, at the peak of it's population?   

I'm glad Jackson is trying to improve services, but they also need to work on improving efficiency at the same time. 

Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #2433 on: February 04, 2018, 01:21:25 AM »
Cleveland Clinic looking at more deals in Florida:

"Cleveland Clinic's growing presence on the Treasure Coast should enhance economic-development opportunities in the region as well as the quality of health care, several business and government leaders said.  Indian River Medical Center in Vero Beach and Martin Health System in Stuart embarked on separate partnerships with Cleveland Clinic in the past 10 days. IRMC leaders picked Cleveland Clinic to negotiate a takeover of the county-owned hospital, while Martin Health announced an affiliation agreement for cardiology and heart surgery with Cleveland Clinic...."

https://www.tcpalm.com/story/news/local/indian-river-county/2018/02/02/cleveland-clinic-partnerships-indian-river-medical-center-martin-health-system-would-boost-local-eco/1083456001/

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2434 on: February 04, 2018, 11:52:14 AM »
More data -- real estate friend who works at Howard Hanna's Rocky River office estimates that 20-25 percent of his office's work right now is handling relocations to the Cleveland area. He says that while only about 5 percent of his business is relocations, there are realtors at his office who handle nothing but relocations and they are busy. He promised to get me some hard data the next time I see him.
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2435 on: February 04, 2018, 12:37:28 PM »
More data -- real estate friend who works at Howard Hanna's Rocky River office estimates that 20-25 percent of his office's work right now is handling relocations to the Cleveland area. He says that while only about 5 percent of his business is relocations, there are realtors at his office who handle nothing but relocations and they are busy. He promised to get me some hard data the next time I see him.

This matches the very unscientific (but fun) moving van census of a few months back - that more full vans were heading TO Cleveland than away.
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 #2436 on: February 04, 2018, 01:33:51 PM »
February 04, 2018 4:00 am
Inca Tea is pumping up production, biz options
By RACHEL ABBEY MCCAFFERTY

Inca Tea is piping hot.

Its path hasn't been without hiccups or hurdles, but it has been steady since its founding four years ago. And the company's most recent investment will bring a significant amount of production to its headquarters in Cleveland's Slavic Village.

Ryan Florio started the purple corn tea company in February 2014, inspired by a trip to the Inca Trail in Peru a couple years earlier. That first year, the company was based in Florio's parents' home and sales were a little less than $50,000. in 2018, the company has its own headquarters in Slavic Village, with plans to soon open a freestanding cafe nearby, and Florio expects the company's sales to reach $1 million, including franchise fees and proceeds from a licensing agreement.

Up until now, the company has outsourced the manufacturing of its main product: bagged tea. But Florio, who describes himself as the company's TeaEO, has wanted to bring that in-house since the beginning. At the end of January, Inca Tea received two Fuso machines, one to make tea bags and one to automatically put those bags into envelopes. The machines, which cost about $300,000 together, can make rectangular or pyramid tea bags, turning them out at 80 bags a minute.

MORE:
http://www.crainscleveland.com/article/20180204/news/150771/inca-tea-pumping-production-biz-options
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2437 on: February 04, 2018, 01:43:07 PM »
February 04, 2018 4:00 am UPDATED 20 MINUTES AGO
Tech startup is making waves in housing market
By STAN BULLARD

Bouts of brutally cold weather have not kept Alison Benoit, a real estate agent in the Pepper Pike office of Keller Williams, from writing six accepted offers on homes last month. That figure is as much as the 20-year veteran of the residential market says is typical for hot sales months in summer.

"For me it's not been all that different than working with a buyer who is pre-qualified with a lender," Benoit said of searches she has undertaken from Cleveland Heights to Medina that resulted in two closings.

However, the difference is that Benoit is working with people who will lease a home they select for three years from San Francisco-based tech startup Divvy Homes. After that time, if they want to stay, they will get to buy the house with a bonus for appreciation as well as credit for part of the equity they contribute.

The Cleveland area — technically from Amherst to Akron — is one of two markets, along with Atlanta, that Divvy is expanding into following the Jan. 25 completion of a $7 million round of funding from DFJ of Los Angeles and Caffeinated Capital of San Francisco.

MORE:
http://www.crainscleveland.com/article/20180204/news/150781/tech-startup-making-waves-housing-market
« Last Edit: February 04, 2018, 01:45:32 PM by KJP »
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2438 on: February 05, 2018, 03:43:04 PM »
^ It took me a couple readings of that article to figure out that Divvy becomes the property owner during the lease period.  Interesting idea, but that model may only work as long as money stays cheap.
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 #2439 on: February 06, 2018, 10:31:55 AM »
Below is a comment from Amazon fulfillment center developer Seefried Industrial Properties at an event in #CLE this morning. Behind North Randall, Euclid projects. With high unemployment in #Cleveland's urban core, this comment suggests there either weren't large enough, build-ready sites in the core or the public #transportation was inadequate to expand the #labor pool's reach.

David Leb‏
@leb_cre
Why two amazon centers in cleveland just 20 miles apart? Comes down to labor. Up to 2500 employees in each center, tough to find enough labor in this market- Adam Goldberg @Bisnow
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2440 on: February 06, 2018, 11:42:27 AM »
From the Arconic 4th Quarter Earnings press release:  "As part of the Company’s continued drive to reduce corporate overhead, Arconic announced that it will relocate its global headquarters in 2018 out of New York City to a more cost-effective location. The Company expects to complete the move by the end of 2018."

Arconic is the manufacturing part of the former Alcoa Aluminum combine, split out last year. No reason that headquarters site shouldn't be Cleveland. Yes, they have back office administration still in Pittsburgh from the old days when the whole company was there, but four of their operating divisions are headquartered in Cleveland. It makes as much sense to put the Hqs on Harvard, or perhaps downtown, as anywhere else.
There's nothing wrong with optimism, as long as you don't get your hopes up.

Offline surfohio

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Re: Cleveland: General Business & Economic News
« Reply #2441 on: February 06, 2018, 11:47:15 AM »
Arconic is the manufacturing part of the former Alcoa Aluminum combine, split out last year. No reason that headquarters site shouldn't be Cleveland.

Agree. Cleveland is essentially their headquarters already. Here's hoping.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2442 on: February 06, 2018, 12:44:10 PM »
Unfortunately, only 80 people work at Arconic's New York HQ. An article from a year ago....

Arconic's Park Avenue Digs Are Activist Catnip
https://www.bloomberg.com/gadfly/articles/2017-02-09/arconic-s-park-avenue-digs-are-like-catnip-for-activists
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2443 on: February 06, 2018, 11:57:53 PM »
Unfortunately, only 80 people work at Arconic's New York HQ. An article from a year ago....

It probably wouldn't be remain 80 if they moved here. Even if it did, a Fortune 500 add in Cleveland comes once in a decade.
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 #2444 on: February 07, 2018, 07:17:16 AM »
Certainly, it would be a good addition. But it doesn't mean there's going to be a new skyscraper downtown nor probably any new construction as a result.
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #2445 on: February 07, 2018, 07:29:20 AM »
From the Arconic 4th Quarter Earnings press release:  "As part of the Company’s continued drive to reduce corporate overhead, Arconic announced that it will relocate its global headquarters in 2018 out of New York City to a more cost-effective location. The Company expects to complete the move by the end of 2018."

Arconic is the manufacturing part of the former Alcoa Aluminum combine, split out last year. No reason that headquarters site shouldn't be Cleveland. Yes, they have back office administration still in Pittsburgh from the old days when the whole company was there, but four of their operating divisions are headquartered in Cleveland. It makes as much sense to put the Hqs on Harvard, or perhaps downtown, as anywhere else.

They actually have a manufacturing location more or less downtown (the old Howmet Tempcraft visible from the Shoreway) so while downtown might not make sense for most manufacturing companies, it might here.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2446 on: February 07, 2018, 08:25:19 AM »
It's being close to their manufacturing sites was important to Arconic, they wouldn't have picked New York in the first place.
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2447 on: February 07, 2018, 10:46:50 AM »
It's being close to their manufacturing sites was important to Arconic, they wouldn't have picked New York in the first place.

It was the arrogance of a particular CEO, Alain Belda, who disliked "provincial" Pittsburgh, that moved Alcoa to NYC. He claimed the reason was to be near financial markets
There's nothing wrong with optimism, as long as you don't get your hopes up.

Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #2448 on: February 12, 2018, 02:36:05 PM »
Article about University of California, San Francisco (UCSF) Hopsital and its plans with a strange mention about Metro in Cleveland and its plans. No other hospitals are mentioned in the article which is solely about UCSF Hosp.

https://www.healthcaredive.com/news/500m-donation-sparks-ucsf-hospital-plan/516810/

Always good to see Cleveland mentioned, though.
« Last Edit: February 12, 2018, 02:39:04 PM by Pugu »

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2449 on: February 13, 2018, 10:32:33 AM »
Uh oh?

New York private equity firm to buy majority interest in American Greetings

Clayton, Dubilier & Rice will acquire a 60% ownership stake in the company, while the Weiss family, descendants of Jacob Sapirstein, who founded the company in 1906, will retain a 40% stake. Upon the close of the transaction, John Beeder, current president and chief operating officer of American Greetings, will become CEO. Zev Weiss and Jeffrey Weiss, current co-CEOs, and Morry Weiss, the current chairman, will be on the board. David Scheible will be the new chairman.

http://www.crainscleveland.com/article/20180213/news/151806/new-york-private-equity-firm-buy-majority-interest-american-greetings
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline YABO713

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Re: Cleveland: General Business & Economic News
« Reply #2450 on: February 13, 2018, 11:16:04 AM »
^SH*TTTTTTTT

Offline freefourur

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Re: Cleveland: General Business & Economic News
« Reply #2451 on: February 13, 2018, 11:16:43 AM »
This could be bad...

Offline Cleburger

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Re: Cleveland: General Business & Economic News
« Reply #2452 on: February 13, 2018, 11:35:02 AM »
I've always wondered what a fake downtown like Crocker Park would look like if it falls on hard times.   A suburban version of 1980's Euclid Ave?  Will the people of Westlake flee further west when all the bad elements show up among the boarded-up Lulu Lemons and Cheesecake Factories?   :P ;D

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2453 on: February 13, 2018, 01:14:16 PM »
This could be bad...

Clayton, Dubilier, and Rice is one of the better buy-out firms. Their reputation is one of making operational improvements to companies rather than "financial engineering" (i.e. strip the cash and sell the caracss).  Sometimes they resell the company publicly, sometimes they sell it to a bigger organization. This is not by definition bad news, although it may work out that way.
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Offline surfohio

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Re: Cleveland: General Business & Economic News
« Reply #2454 on: February 13, 2018, 02:14:39 PM »
AG had been on a hiring freeze. Now we know why.

Offline eyehrtfood

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Re: Cleveland: General Business & Economic News
« Reply #2455 on: February 13, 2018, 02:55:06 PM »
I've always wondered what a fake downtown like Crocker Park would look like if it falls on hard times.   A suburban version of 1980's Euclid Ave?  Will the people of Westlake flee further west when all the bad elements show up among the boarded-up Lulu Lemons and Cheesecake Factories?   :P ;D

It must be noted that the American Greetings end of Crocker, ready to take retail tenants for probably the better part of two years, is still mostly empty - with seemingly few prospects - including 100% vacancy on the ground floor the AG building, itself.. This from a shopping center that used to have a waiting list to take the spots of outgoing retailers. They built too much....

Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #2456 on: February 13, 2018, 03:00:15 PM »
^well, with this announcement I'm sure it will be a lot harder to fill those spots. I'm sure the owners of crocker park and the city of westlake not happy....

Offline YABO713

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Re: Cleveland: General Business & Economic News
« Reply #2457 on: February 13, 2018, 03:12:36 PM »
^Brooklyn is having that land replaced with a new tenant. They might've been the lucky one in all of this.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2458 on: February 13, 2018, 07:45:00 PM »
Does Trinity see the growth in the expansion/construction of industrial facilities in Greater Cleveland? This press release unfortunately does not offer much insight.....

https://news.thomasnet.com/companystory/trinity-consultants-opens-offices-in-cleveland-and-milwaukee-40009353

Trinity Consultants Opens Offices in Cleveland and Milwaukee

Trinity's new offices in Milwaukee and Cleveland, under the leadership of Steve Tasch and Mike Burr, respectively, will support environmental permitting and compliance challenges of industrial facilities in those markets.

(PRWEB) FEBRUARY 12, 2018

Trinity Consultants, an international environmental consulting firm that specializes in industrial air quality issues, recently opened offices in Cleveland, Ohio and Milwaukee, Wisconsin under the leadership of Mike Burr and Steve Tasch, respectively. These two offices are the latest additions to Trinity’s more than 50 offices across the U.S., Canada, the U.K., the Middle East, and China.

Mike Burr, Managing Consultant in Cleveland, worked in Trinity’s Columbus, Ohio office for six years prior to relocating to Cleveland, following several years at another consulting firm. He has extensive experience providing industrial facilities from multiple sectors with high quality environmental permitting and compliance service. His expertise includes state and federal air construction permitting, including complex air dispersion modeling analysis, as well as Title V permitting and compliance, emission inventory development, and National Pollutant Discharge Elimination System (NPDES) permitting. Burr earned a B.S. degree in meteorology from Ohio University and a M.S. degree in atmospheric science from North Carolina State University.

Steve Tasch, Managing Consultant in Milwaukee, worked in Trinity’s Chicago office for a decade prior to opening the new Wisconsin location. He is experienced in air and water quality permitting and compliance as well as environmental reporting and compliance auditing. He has extensive expertise supporting facilities in the asphalt roofing, bulk petroleum terminals, printing, and surface coating industries, among others. Tasch earned a B.S. degree in Chemical Engineering from the University of Illinois at Urbana-Champaign.

Commenting on these new assignments and offices, Trinity President John E. (Jay) Hofmann noted, “We are so pleased with the achievements and commitment demonstrated by Steve and Mike to both Trinity and our clients. It is indeed a pleasure to encourage their career growth while also opening new office locations that will allow us to better serve clients in the Ohio and Wisconsin markets.”

Background on Trinity Consultants
Founded in 1974 in Dallas, Texas, Trinity is an international company with more than 50 offices operating in North America, the U.K., China, and the Middle East. Trinity Consultants provides services to a variety of industrial sectors, conducting over 2,000 environmental consulting projects annually. Trinity also markets BREEZE® environmental modeling software, implements technology solutions for EHS information management, and provides professional EHS training and EHS staffing services.
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2459 on: Yesterday at 08:48:04 AM »
February 18, 2018 4:00 am
CommutAir likes Northeast Ohio landing spot
By JAY MILLER 

It wasn't until last Thursday, Feb. 15, that travelers could once again board an airplane operated by CommutAir at Cleveland Hopkins International Airport, even though the regional air carrier moved its corporate headquarters to North Olmsted last year.

...The North Olmsted office grew to 138 CommutAir employees before the headquarters move, operating the airline's flight and system nerve centers, as well as its maintenance planning, crew scheduling, human resources and finance operations.

That number now has grown to 165, and the company has pledged to the tax credit authority that it will grow to 217 employees by the end of 2020. The company has 18,000 square feet of office space at Great Northern Corporate Center and is exploring additional space in its current location.

MORE:
http://www.crainscleveland.com/article/20180218/news/152306/commutair-likes-northeast-ohio-landing-spot
"Give me control of a nation's money supply, and I care not who writes the laws." -- Mayer Amschel Rothschild, founder of the European banking dynasty.