Author Topic: Cleveland: General Business & Economic News  (Read 368635 times)

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Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #1715 on: February 23, 2017, 01:19:23 PM »
http://www.crainscleveland.com/article/20170223/NEWS/170229906/chart-industries-is-moving-its-headquarters-out-of-northeast-ohio

Sorry to see Chart pull up stakes; despite a recent hiccup, they were growing nicely and were peripherally in the biotech business.  Companies their size tend to follow their factories and they closed the last one in Ohio some time ago.  :-(
« Last Edit: February 23, 2017, 01:20:38 PM by Dougal »

Offline ChiCleveKid

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Re: Cleveland: General Business & Economic News
« Reply #1716 on: February 23, 2017, 03:16:44 PM »
Really disappointing news...need less of these stories...but similar to OM Group's recent departure to St. Louis it seems like it is coming on the heels of a relatively new CEO being named...

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #1717 on: February 25, 2017, 05:10:33 AM »
Thing I had missed: Cleveland MSA has the largest increase in unemployment rate from 2015 to 2016 (+1.2%) https://t.co/iwBcQBMO5m
"Greater Cleveland is last in the country in number of jobs accessible in typical commute distance, creating a huge drag on economy and more air & water pollution."-- Vibrant NEO

Offline BelievelandD1

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Re: Cleveland: General Business & Economic News
« Reply #1718 on: February 25, 2017, 06:30:42 AM »
^How did 7,000+ people become unemployed from Nov to Dec? During seasonal work months. Wouldn't we know about such drastic change?

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Re: Cleveland: General Business & Economic News
« Reply #1719 on: February 25, 2017, 07:59:01 AM »
ACE Report: Service sector keys Northeast Ohio job growth

Employment in the Cleveland-Akron metropolitan area was up by 8,017 jobs in January, recovering from a decline in December, according to an estimate from the Ahola Crainís Employment (ACE) Report.

Seasonally adjusted, the region saw employment rise to 1,179,851 from 1,171,834 a month earlier, a 0.68% increase. Most of the growth, 6,900 jobs, was in the service sector, though the goods producing sector saw a rise of 1,196 jobs. In December, the region lost 1,879 jobs. The estimates also show a 0.35% increase over the number of people working a year earlier, an increase of 4,102 jobs.

Despite the occasional month-to-month wobble, employment in the region has been rising steadily, if slowly. Since January 2013, the regionís seasonally adjusted employment has grown by 30,654 jobs, a 2.67% increase. During the same time period, the unemployment rate has dropped from 7.8% to 5.1%, according to the Ohio Department of Jobs and Family Services.

http://www.crainscleveland.com/article/20170224/NEWS/170229873/ace-report-service-sector-keys-northeast-ohio-job-growth

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #1720 on: February 26, 2017, 01:29:21 AM »
^How did 7,000+ people become unemployed from Nov to Dec? During seasonal work months. Wouldn't we know about such drastic change?

I used to work for the Census Bureau; in addition to actual counts, they arrive at published numbers by including estimates based on accumulated data and trends. I have suspected for a while that their model for the Cleveland MSA needs updating.
« Last Edit: February 26, 2017, 01:30:10 AM by Dougal »

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #1721 on: March 02, 2017, 01:31:00 AM »
Constant Aviation, part of the privately-owned Ricci aviation group at Cuyahoga County Airport, has quietly acquired another maintenance, repair, and overhaul center - this time in Sanford, FL.  Ricci rarely seeks press attention (and rarely gets it); but it might just be Cleveland's biggest semi-secret corporate group.

http://www.constantaviation.com/media/news/constant-aviation-and-starport-announce-starport-acquisition/

Offline Oldmanladyluck

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Re: Cleveland: General Business & Economic News
« Reply #1722 on: March 14, 2017, 04:05:50 PM »
Preliminary numbers are out for January 2017 from the Bureau of Labor Statistics listing 949,068 people employed; the least amount of people since the height of the recession in January of 2010, and the second least amount of people employed since 1990.  Now granted, January is the month when the region has the highest amount of people unemployed year after year, so there's no telling how many people are added to the employment numbers later this year.  Also, the numbers are preliminary and may change.  The unemployment rate of 6.6% is also the highest it's been since March of 2014.

https://www.bls.gov/eag/eag.oh_cleveland_msa.htm
« Last Edit: March 14, 2017, 04:06:32 PM by Oldmanladyluck »
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Online bwheats

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Re: Cleveland: General Business & Economic News
« Reply #1723 on: March 14, 2017, 05:44:50 PM »
I have nearly given up on looking at the BLS and their adjusted numbers. They end up revising them anyhow months later to reflect the quarterly county employment numbers which are far more accurate. The ACE report from Crains is a solid resource and they published promising January employment numbers after a poor job performance for the area in 2016.
http://www.crainscleveland.com/article/20170224/NEWS/170229873/ace-report-service-sector-keys-northeast-ohio-job-growth

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #1724 on: March 15, 2017, 11:05:34 AM »
Medical competition set to put Cleveland at forefront of big data revolution: https://t.co/e3gnJ4rs1R
"Greater Cleveland is last in the country in number of jobs accessible in typical commute distance, creating a huge drag on economy and more air & water pollution."-- Vibrant NEO

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #1725 on: March 16, 2017, 03:23:11 PM »
I have nearly given up on looking at the BLS and their adjusted numbers. They end up revising them anyhow months later to reflect the quarterly county employment numbers which are far more accurate. The ACE report from Crains is a solid resource and they published promising January employment numbers after a poor job performance for the area in 2016.
http://www.crainscleveland.com/article/20170224/NEWS/170229873/ace-report-service-sector-keys-northeast-ohio-job-growth

http://www.crainscleveland.com/article/20170316/NEWS/170319863/pnc-report-economic-growth-in-neo-to-remain-slow-and-steady-through

I think the PNC report Crain's cited further belies the BLS numbers. The Census Bureau's Current Population Survey (which underlies BLS' employment/unemployment numbers) depends heavily on historic trends and is slow to recognize trend changes; the Census Bureau will also admit that their monthly metropolitan data is becoming less reliable because of reduced participation rates by the general population.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #1726 on: March 21, 2017, 12:40:28 AM »
Sterling finds office solution across street
March 19, 2017 UPDATED 14 HOURS AGO
By STAN BULLARD

Growing demand for employee background screening is fueling job growth at the new home for Sterling Talent Solutions' operation headquarters in Independence.

...The firm expects to hire at least 65 more workers ó it calls them "team members" ó in the coming year.

Clare Hart, CEO of Sterling, said in a phone interview that the company decided to make Cleveland its operations headquarters because of the quality of the workforce. Sterling expanded in the Cleveland market in 2015 by buying Warrensville Heights-based EmployeeScreen IQ, which later consolidated operations into the Independence office. Sterling entered the Cleveland market in 2012 by buying the former AISS unit of Little Rock, Ark.-based Axciom. Hart said Sterling shed operations staff in California and Virginia as it elevated the south suburban location as its worldwide operations center.

MORE
http://www.crainscleveland.com/article/20170319/NEWS/170319830/sterling-finds-office-solution-across-street
"Greater Cleveland is last in the country in number of jobs accessible in typical commute distance, creating a huge drag on economy and more air & water pollution."-- Vibrant NEO

Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #1727 on: March 21, 2017, 12:41:33 PM »
Sherwin-Williams postpones Valspar purchase until June
Deal was supposed to close by end of April.

http://www.startribune.com/sherwin-williams-postpones-valspar-purchase-until-june/416733083/

Online Mendo

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Re: Cleveland: General Business & Economic News
« Reply #1728 on: March 21, 2017, 01:18:58 PM »
S-W can't catch a break. Regulators in Mexico blocked the merger with Comex (who was later bought by PPG). Now they are getting a lot of grief over Valspar

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #1729 on: March 21, 2017, 01:46:54 PM »
S-W can't catch a break. Regulators in Mexico blocked the merger with Comex (who was later bought by PPG). Now they are getting a lot of grief over Valspar

Now PPG is talking about buying Akzo.   :-(

Online sir2gees

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Re: Cleveland: General Business & Economic News
« Reply #1730 on: March 23, 2017, 11:30:21 AM »
I like stories like this. We need more of this. Slowly but surely the regional economy is evolving.

NEO sons come home to help fuel CLE's tech economy

A year ago, Chad Supers was running sales for a "baby startup" out of his San Francisco apartment. Today, the Elyria native is back home to help integrate the now fast-growing company into Cleveland's emerging tech economy. Growbots, a Silicon Valley sales software firm, recently opened its national sales operations office in the Tenk Machine and Tool building on the West Bank of the Flats. The company builds outbound sales platforms for nearly 500 emerging B2B companies  in the U.S., Europe and Canada, raising $4 million in annual recurring revenue. Growbots has four employees stationed at its West Bank office, among them former Phenom co-founder Mike Eppich. Supers says the Cleveland firm is prepared to bring on another two dozen sales and administrative roles by the end of 2017."In Cleveland we know we can get people who are hungry, hard-working and have the right attitude," Supers says. Company leaders housed in Growbots' two other locations ó Warsaw, Poland, and San Francisco ó chose Cleveland for a potent talent base that's far less expensive to train and hire than the employee pools on the coasts.

http://www.freshwatercleveland.com/innovationnews/GrowBots032017.aspx

Offline Urbanophile

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Re: Cleveland: General Business & Economic News
« Reply #1731 on: March 28, 2017, 02:24:19 PM »
I heard a rumor that GE Lighting will be jumping ship and moving out of the region if the East Cleveland merger happens. Can anyone confirm if this is true?

Online down4cle

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Re: Cleveland: General Business & Economic News
« Reply #1732 on: March 28, 2017, 02:26:06 PM »
^ i would expect the opposite to be true. 

Offline Urbanophile

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Re: Cleveland: General Business & Economic News
« Reply #1733 on: March 28, 2017, 02:31:16 PM »
^ I know, which is why I'm surprised and saddened to hear it. I heard it from a pretty reliable source, but I'd love for this to be proven wrong.

Offline willyboy

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Re: Cleveland: General Business & Economic News
« Reply #1734 on: March 28, 2017, 02:53:04 PM »
It would have noting to do with whether there is a merger or not. 
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Offline FrqntFlyr

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Re: Cleveland: General Business & Economic News
« Reply #1735 on: March 28, 2017, 03:46:01 PM »
It would have noting to do with whether there is a merger or not. 

Correct.

Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #1736 on: March 29, 2017, 10:14:57 AM »
I heard a rumor that GE Lighting will be jumping ship and moving out of the region if the East Cleveland merger happens. Can anyone confirm if this is true?

I hope Buddish is in Boston on his knees, promising anything..

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #1737 on: March 29, 2017, 11:36:55 AM »
I heard a rumor that GE Lighting will be jumping ship and moving out of the region if the East Cleveland merger happens. Can anyone confirm if this is true?

I hope Buddish is in Boston on his knees, promising anything..

How much sense it makes depends on how much influence they currently have over East Clevelandís so-called city government.  If itís a lot, and they donít think the City of Cleveland will continue to listen to them, it becomes feasible.

No merger would happen until after the mayorís race in any case.  It would have to be the election winner persuading them.  Budish isnít the main player here.
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Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #1738 on: March 29, 2017, 11:51:58 AM »
I heard a rumor that GE Lighting will be jumping ship and moving out of the region if the East Cleveland merger happens. Can anyone confirm if this is true?

I hope Budish is in Boston on his knees, promising anything..

How much sense it makes depends on how much influence they currently have over East Clevelandís so-called city government.  If itís a lot, and they donít think the City of Cleveland will continue to listen to them, it becomes feasible.

No merger would happen until after the mayorís race in any case.  It would have to be the election winner persuading them.  Budish isnít the main player here.


EC isn't a realistic player. They are barely functional. It would HAVE to be somebody higher up the food chain who can convince the company they will not be located in a disaster area forever. Enlisting the State's help is reasonable.  The REGION cannot afford to lose a GE R&D facility.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #1739 on: March 29, 2017, 12:03:14 PM »
I heard a rumor that GE Lighting will be jumping ship and moving out of the region if the East Cleveland merger happens. Can anyone confirm if this is true?

I hope Budish is in Boston on his knees, promising anything..

How much sense it makes depends on how much influence they currently have over East Clevelandís so-called city government.  If itís a lot, and they donít think the City of Cleveland will continue to listen to them, it becomes feasible.

No merger would happen until after the mayorís race in any case.  It would have to be the election winner persuading them.  Budish isnít the main player here.


EC isn't a realistic player. They are barely functional. It would HAVE to be somebody higher up the food chain who can convince the company they will not be located in a disaster area forever. Enlisting the State's help is reasonable.  The REGION cannot afford to lose a GE R&D facility.

Agreed, but in this case the city of Cleveland would be the key concern.   The county doesn't have the clout.
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Offline StrapHanger

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Re: Cleveland: General Business & Economic News
« Reply #1740 on: March 29, 2017, 12:10:34 PM »
I wonder if this rumor is actually referring to a different type of "merger"? Hasn't there been speculation that GE was trying to sell its retail lighting business?
"Cleveland, as you see, is not an apple, but a bunch of grapes each of which has its own particular pattern-some large, others small, some round, others long and narrow, some sweet, others sour, some sound, others rotten throughout."  -Howard Whipple Green, 1932

Online Hts121

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Re: Cleveland: General Business & Economic News
« Reply #1741 on: March 29, 2017, 12:32:11 PM »
^yes, as has Phillips.
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Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #1742 on: March 29, 2017, 01:51:53 PM »
I thought GE already spun it out into a new organization called "Current by GE"

Offline willyboy

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Re: Cleveland: General Business & Economic News
« Reply #1743 on: March 29, 2017, 02:24:12 PM »
The next generation lighting unit/LED was spun off from Nela, and incorporated into a unit called "Current" which is based in Boston.   
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Offline Dougal

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Re: Cleveland: General Business & Economic News
« Reply #1744 on: March 29, 2017, 03:45:20 PM »
The next generation lighting unit/LED was spun off from Nela, and incorporated into a unit called "Current" which is based in Boston.   

I thought Nela was part of Current, doing R&D for them.  The former head of Nela (I forget her name) now in Boston runs Current, no?

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #1745 on: March 29, 2017, 03:52:34 PM »
To bad we couldn't get them to relocate their HQ here so we could be both Current & Progressive....
"Greater Cleveland is last in the country in number of jobs accessible in typical commute distance, creating a huge drag on economy and more air & water pollution."-- Vibrant NEO

Offline ChiCleveKid

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Re: Cleveland: General Business & Economic News
« Reply #1746 on: March 29, 2017, 06:32:34 PM »
The next generation lighting unit/LED was spun off from Nela, and incorporated into a unit called "Current" which is based in Boston.   

I thought Nela was part of Current, doing R&D for them.  The former head of Nela (I forget her name) now in Boston runs Current, no?

Yes...that is correct.
Would be great to keep this asset in the region, especially since LED and other forms of lighting are just starting to really take off.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #1747 on: April 04, 2017, 06:46:48 AM »
To bad we couldn't get them to relocate their HQ here so we could be both Current & Progressive....

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Offline willyboy

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Re: Cleveland: General Business & Economic News
« Reply #1748 on: April 04, 2017, 10:26:38 AM »
The next generation lighting unit/LED was spun off from Nela, and incorporated into a unit called "Current" which is based in Boston.   

I thought Nela was part of Current, doing R&D for them.  The former head of Nela (I forget her name) now in Boston runs Current, no?

Yes...that is correct.
Would be great to keep this asset in the region, especially since LED and other forms of lighting are just starting to really take off.

Except the forward thinking "Current" division was essentially spun off and moved to Boston where it was combined with some of the other forward thinking/energy divisions and where it is now headquartered (and hiring). 

That leaves a rather stagnant lighting division in E. Cleveland that speculation would have it G.E. is looking to sell off.  So GE essentially took what they saw as the growing profitable sector of the lighting division and spun it out of E. Cleve thus making Nela's future cloudy. 

     
« Last Edit: April 04, 2017, 12:54:49 PM by willyboy »
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Offline StrapHanger

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Re: Cleveland: General Business & Economic News
« Reply #1749 on: April 04, 2017, 11:39:01 AM »
^I tend to share the dark outlook, but to clarify, I think Current still has a significant research presence at NELA park, separate from the "stagnant" retail lighting division. I think it was mostly management that moved to the new Boston HQ.
"Cleveland, as you see, is not an apple, but a bunch of grapes each of which has its own particular pattern-some large, others small, some round, others long and narrow, some sweet, others sour, some sound, others rotten throughout."  -Howard Whipple Green, 1932

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