Author Topic: Cleveland: General Business & Economic News  (Read 388921 times)

0 Members and 9 Guests are viewing this topic.

Offline ChiCleveKid

  • 468'-Scripps Center
  • ***
  • Posts: 266
Re: Cleveland: General Business & Economic News
« Reply #1750 on: April 05, 2017, 06:19:59 PM »

Offline Dougal

  • 555'-LeVeque Tower
  • ***
  • Posts: 386
Re: Cleveland: General Business & Economic News
« Reply #1751 on: April 06, 2017, 10:54:07 AM »
^ The PD's version ascribes 300 jobs at Nela Park to consumer lighting. GE had previously warned that consumer lighting was going away. I think there's hope the other jobs might stay.

The loss of 300 jobs, however, may mean that East Cleveland faces immediate bankruptcy. Every cloud has a silver lining.

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1752 on: April 09, 2017, 09:59:25 PM »
Great Lakes Cold Storage to expand Solon facility
By Plain Dealer business staff
on April 06, 2017 at 8:48 AM, updated April 06, 2017 at 8:59 AM

SOLON, Ohio -- Great Lakes Cold Storage announced Wednesday that it will expand its facility in Solon.

According to a press release from the company and the Greater Cleveland Partnership, the company is currently home to 135 employees and has plans to create 68 new full-time positions during the next four years. In addition, the company anticipates investing more than $2 million in facility improvements.

Today, Great Lakes Cold Storage provides more than 8.6 million cubic feet of storage for several of the largest food manufacturers in the country. Its Solon expansion is expected to be finished by the end of 2017. Another warehouse is located in Cranberry Township, Pennsylvania.

MORE:
http://www.cleveland.com/business/index.ssf/2017/04/great_lakes_cold_storage_to_ex_1.html
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Online sir2gees

  • 629'-Rhodes State Tower
  • *****
  • Posts: 656
Re: Cleveland: General Business & Economic News
« Reply #1753 on: April 12, 2017, 05:38:23 PM »
Sale of a Valspar Corp. unit is expected to clear the way for deal with Sherwin-Williams Co.

The Sherwin-Williams Co. (NYSE: SHW) of Cleveland and Minneapolis-based Valspar Corp. (NYSE: VAL) have made a move to appease federal regulators and clear the way for approval of their pending $11.3 billion combination.

The companies on Wednesday morning, April 12, announced in a news release they have agreed to sell assets of Valspar's North American Industrial Wood Coatings business to Philadelphia-based Axalta Coating Systems for $420 million in cash.

http://www.crainscleveland.com/article/20170412/NEWS/170419937/sale-of-a-valspar-corp-unit-is-expected-to-clear-the-way-for-deal


Offline ChiCleveKid

  • 468'-Scripps Center
  • ***
  • Posts: 266
Re: Cleveland: General Business & Economic News
« Reply #1754 on: April 12, 2017, 07:16:23 PM »
Great news...
SW a bright spot in the NEO Economy!
« Last Edit: April 12, 2017, 07:17:22 PM by ChiCleveKid »

Online CbusTransit

  • 468'-Scripps Center
  • ***
  • Posts: 216
Re: Cleveland: General Business & Economic News
« Reply #1755 on: April 12, 2017, 08:52:26 PM »
While I feel for the folks in Minneapolis, it is nice to be on this side of a corporate merger. According to the Star Tribune, Valspar's headquarters is expected to move to Cleveland. Valspar has 600 employees in Minneapolis:
http://www.startribune.com/valspar-to-sell-wood-coatings-line-for-420-million/419267414/

Offline gotribe

  • 2717'-Burj Khalifa
  • **********
  • Posts: 2047
Re: Cleveland: General Business & Economic News
« Reply #1756 on: April 13, 2017, 04:31:27 AM »
Great! Now hopefully we can hold on to GE.

Offline Dougal

  • 555'-LeVeque Tower
  • ***
  • Posts: 386
Re: Cleveland: General Business & Economic News
« Reply #1757 on: April 24, 2017, 11:29:50 AM »
http://www.crainscleveland.com/article/20170423/NEWS/170429934/relatecare-picks-cleveland-for-u-s-center

RelateCare, an Irish company, has put its chief US office at 3615 Superior, a is a nice pickup for downtown - 30 current jobs growing to 100 this year with further growth predicted. 

Edit: This is another Cleveland Clinic co-op venture that has lead to a permanent presence.
« Last Edit: April 24, 2017, 11:38:24 AM by Dougal »

Offline bjk

  • 468'-Scripps Center
  • ***
  • Posts: 273
    • BJK Research LLC
Re: Cleveland: General Business & Economic News
« Reply #1758 on: April 24, 2017, 12:38:42 PM »
http://www.crainscleveland.com/article/20170423/NEWS/170429934/relatecare-picks-cleveland-for-u-s-center

RelateCare, an Irish company, has put its chief US office at 3615 Superior, a is a nice pickup for downtown - 30 current jobs growing to 100 this year with further growth predicted. 

Edit: This is another Cleveland Clinic co-op venture that has lead to a permanent presence.

Sounds like a nice win for Tyler Village

Offline Dougal

  • 555'-LeVeque Tower
  • ***
  • Posts: 386
Re: Cleveland: General Business & Economic News
« Reply #1759 on: April 27, 2017, 02:26:07 AM »
The BLS March adjusted unemployment numbers show the Cleveland MSA at 6.3%, which is worse than a few months ago. What is good about it (in the latest figures) is that no jobs were lost; instead, the workforce expanded.
 

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1760 on: May 16, 2017, 07:58:19 PM »
Cleveland, Detroit & Pittsburgh are the finalists for a new, 500-job factory. I just learned about this from the Twitter account of the mayor of Pittsburgh and not from Cleveland Mayor Frank Jackson (or any Cleveland media). Both mayors are up for reelection in 2017 but sometimes you'd never know Frank is running.

Manufacturer narrows plant search to Pittsburgh, Cleveland and Detroit
http://www.bizjournals.com/pittsburgh/news/2017/05/16/manufacturer-narrows-plant-search-to-pittsburgh.html
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Offline Cleburger

  • 2717'-Burj Khalifa
  • **********
  • Posts: 3688
Re: Cleveland: General Business & Economic News
« Reply #1761 on: May 16, 2017, 08:14:53 PM »
Cleveland, Detroit & Pittsburgh are the finalists for a new, 500-job factory. I just learned about this from the Twitter account of the mayor of Pittsburgh and not from Cleveland Mayor Frank Jackson (or any Cleveland media). Both mayors are up for reelection in 2017 but sometimes you'd never know Frank is running.

Manufacturer narrows plant search to Pittsburgh, Cleveland and Detroit
http://www.bizjournals.com/pittsburgh/news/2017/05/16/manufacturer-narrows-plant-search-to-pittsburgh.html


Frank doesn't even do twitter does he?  His parody account is pretty spot-on though.
I got some records from World War II
I play 'em just like me grand dad do
He was a rocker and I am too....Now Cleveland rocks....

Offline mack34

  • 367'-PNC Bank
  • **
  • Posts: 89
Re: Cleveland: General Business & Economic News
« Reply #1762 on: May 16, 2017, 08:16:56 PM »
Pittsburgh, Columbus, Indy, Toronto, Mississauga.....These Mayors are constantly selling their cities to developers companies.  Mayor Jackson......Zzzzzzzzzzzzz

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1763 on: May 16, 2017, 08:19:53 PM »

Frank doesn't even do twitter does he?  His parody account is pretty spot-on though.

He does, but it's run by his campaign staff.
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Online Mendo

  • 771'-Terminal Tower
  • *******
  • Posts: 1079
Re: Cleveland: General Business & Economic News
« Reply #1764 on: May 16, 2017, 08:43:32 PM »
It seems Cleveland and JobsOhio are aware of the project. Some key points highlighed -- Crain's coverage from today:
http://www.crainscleveland.com/article/20170516/NEWS/170519852/clevelands-one-of-three-finalists-for-an-assembly-and-distribution

Quote
Cleveland's one of three finalists for an assembly and distribution center that aims to employ at least 100 people
The company on Tuesday, May 16, announced it has narrowed its options for the 100,000-square-foot center to Cleveland, Detroit and Pittsburgh. It said in a news release that it will release a full request for proposal (RFP) later this month. The company is developing technology to improve the efficiency of the combustion engine.
<snip>
For instance, Ellsworth said the empty Ford Engine plant No. 2 on Snow Road in Brook Park is one possible location, if the company picks Cleveland for the project. He said American Plasma has been working with JobsOhio to identify appropriate site in this market.

Cleveland developer John Ferchill also is working with American Plasma on the project. He was out of his office at The Ferchill Group on Tuesday morning and was not immediately available for comment.

Cleveland.com's mentioned it in a random blurb in April. This should have gotten much bigger coverage.

http://www.cleveland.com/naymik/index.ssf/2017/04/cle_chatter_bridge_to_nowhere.html

Quote
Cleveland-based American Plasma Energy Group (APEG) is a company that hopes to change the world, or at least how the combustion engine works. The company recently announced an exclusive licensing deal with Plasma Igniter, LLC, to make the Coaxial Cavity Resonator Ignition System (CCRIS)... APEG is exploring potential places to set up its national assembly and distribution center and has narrowed its search to locations in Pennsylvania, Ohio or Michigan... One player in the current deal is John Ferchill, a Cleveland developer. He sits on APEG's business advisory board. He declined to comment and referred me to APEG spokesman Bob Ellsworth, who said the company is indeed looking at the Ford plant, among other sites. He said the company hopes to have full-scale production going in 2 to 3 years. He also noted that Ferchill is a big part of the company's plans and "came out of retirement" to shepherd this project.

Online audidave

  • 947'-Key Tower
  • ********
  • Posts: 1294
  • Akron skyline
Re: Cleveland: General Business & Economic News
« Reply #1765 on: May 16, 2017, 09:06:14 PM »
^I mentioned this in another thread - rust belt ideas.  It does seem that this is going to be a "game-changer" of some magnitude.  There are some plasma spark plugs out there that currently get approx 3-5% improvement in mpg performance. This is expecting to get 20%-30% and possibly up to 50% or more if things work out. No one is putting numbers down but the basic technology for spark plugs has been around for 100 years.  The problem has been the air-fuel mix needed to fire off a spark plug. If they can use half the fuel like they are saying that is world changing.

Online E Rocc

  • 2717'-Burj Khalifa
  • **********
  • Posts: 7841
  • Defender Of The Sprawl
Re: Cleveland: General Business & Economic News
« Reply #1766 on: May 16, 2017, 10:04:01 PM »
Don't be surprised if it ends up in another Ford plant:  Walton Hills stamping.  Bet Kevin Hurst jumps all over that idea.

If they've got this working half as well as these claims, it's massive.
« Last Edit: May 16, 2017, 10:04:51 PM by E Rocc »
"I mean, this man just can't be president of the US. I mean, they got this button, it's in a briefcase, he's gonna find it."
- P. J. O'Rourke

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1767 on: May 16, 2017, 11:03:45 PM »
Erocc, I respect your opinion as an automotive industry insider. Given what I'm reading here, everyone in the Greater Cleveland business development community needs to be put on a full court press on to bring this here.
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Offline Dougal

  • 555'-LeVeque Tower
  • ***
  • Posts: 386
Re: Cleveland: General Business & Economic News
« Reply #1768 on: May 17, 2017, 01:40:44 PM »

Cleveland developer John Ferchill also is working with American Plasma on the project.

Ferchill is also on the business advisory board of Plasma Igniter LLC, the patent holder.

Online audidave

  • 947'-Key Tower
  • ********
  • Posts: 1294
  • Akron skyline
Re: Cleveland: General Business & Economic News
« Reply #1769 on: May 17, 2017, 01:59:55 PM »
The whole business advisory team are all Cleveland guys.  They are moving very fast to get this to market in a mass scale. They want production by end of year.  They pinpointed the Ford engine plant as where they would like to go or would be appropriate. I expect that is where it will go. The advantage is that it is right by the airport. Since they are making a fairly small component it would seem likely that air freight to Japan, Korea, and Germany would be the best method.
  They are talking about a potential redesign of vehicles because of this invention. The heat of the engine from this would be much less, so engines can be aluminum. There will be less need for emissions equipment as the fuel will burn at a much lower temperature. So it isn't just better gas mileage it is also greater horsepower being created allowing for smaller much more efficient engines which therefore reduces the weight further.

Offline Dougal

  • 555'-LeVeque Tower
  • ***
  • Posts: 386
Re: Cleveland: General Business & Economic News
« Reply #1770 on: May 18, 2017, 11:42:21 AM »
The whole business advisory team are all Cleveland guys.  They are moving very fast to get this to market in a mass scale. They want production by end of year.  They pinpointed the Ford engine plant as where they would like to go or would be appropriate. I expect that is where it will go.

The Detroit and Pittsburgh sites are only stalking horses to get a better deal in Cleveland?

I wonder why the concept hasn't received more press.  Major media must be tired of getting burned by the cold fusion, Segway, Wankel engine, etc. promises?

Online E Rocc

  • 2717'-Burj Khalifa
  • **********
  • Posts: 7841
  • Defender Of The Sprawl
Re: Cleveland: General Business & Economic News
« Reply #1771 on: May 18, 2017, 12:27:54 PM »
The whole business advisory team are all Cleveland guys.  They are moving very fast to get this to market in a mass scale. They want production by end of year.  They pinpointed the Ford engine plant as where they would like to go or would be appropriate. I expect that is where it will go.

The Detroit and Pittsburgh sites are only stalking horses to get a better deal in Cleveland?

I wonder why the concept hasn't received more press.  Major media must be tired of getting burned by the cold fusion, Segway, Wankel engine, etc. promises?

BS and overhype requires general public marketing.   Engineering breakthroughs like this don't.

If anything they'll downplay it while their research people make sure there's no loopholes in the existing patents.
« Last Edit: May 18, 2017, 12:28:38 PM by E Rocc »
"I mean, this man just can't be president of the US. I mean, they got this button, it's in a briefcase, he's gonna find it."
- P. J. O'Rourke

Online audidave

  • 947'-Key Tower
  • ********
  • Posts: 1294
  • Akron skyline
Re: Cleveland: General Business & Economic News
« Reply #1772 on: May 18, 2017, 12:31:30 PM »
^It has come forward fairly quickly as they just received their patents in April, I believe. It is fairly incremental change which isn't terribly sexy. It hasn't totally been proven or independently tested and vetted and no specific numbers have been released, just generalizations. They have not made brash claims that there is a seismic change happening.  It is a very small operation right now and no need to get ahead of themselves.  Until they have working units hot off the manufacturing line, no need to hype the product. They already have many contracts signed with the military and automotive companies, so they need to get production going ASAP.
  i would expect the automotive press to pick up on it shortly once they decide on a location. It's always good business to have 3 choices to decide on as then it is possible to fairly evaluate value.  I expect Cleveland is the preferred choice but if Michigan comes up with a sweetheart deal, is it worth it to still go with a Cleveland location?

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1773 on: May 18, 2017, 03:09:45 PM »
I think this all damn sexy sounding. That might surprise coming from a rail guy like me, but if it helps Cleveland's economy, I'm all for it. And this sounds like the kind of innovation + manufacturing that made Cleveland one the world's industrial powerhouses two centuries ago.
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Online audidave

  • 947'-Key Tower
  • ********
  • Posts: 1294
  • Akron skyline
Re: Cleveland: General Business & Economic News
« Reply #1774 on: May 18, 2017, 07:26:58 PM »
Well we'll see how much they charge for these uber spark plugs as well.
  Engineers/mechanics have known the direction to go would be plasma for probably 20 years. From what I can see early versions of plasma spark plugs have been for sale for 10 years.
  The recent breakthrough was with adding microwaves and finding the right resonance wave in addition to the plasma. So no longer does the fuel need to be 70% in the cylinder to fire off a spark it can be dropped down to maybe 30-50% fuel or less. Also they are looking at altering the flow of fuel as needed for additional horsepower on demand.
   I could see engine design changing since it may not be needed to ever change a spark plug again since they are not going to have the wear and tear of how spark plugs are used now.
  Putting on my futurist hat, this would seem the ideal auxiliary engine for electric hybrids. Light-weight 3 cylinder engine that could power the car by itself if the batteries died or keep batteries charged by running in the background.
 Another massive benefit should be climate change and more immediately, smog since there is likely to be an 80% reduction in pollutants.
 

Offline BOJ

  • 0'-Surface Lot
  • *
  • Posts: 16
Re: Cleveland: General Business & Economic News
« Reply #1775 on: May 19, 2017, 05:56:58 PM »
^It has come forward fairly quickly as they just received their patents in April, I believe. It is fairly incremental change which isn't terribly sexy. It hasn't totally been proven or independently tested and vetted and no specific numbers have been released, just generalizations. They have not made brash claims that there is a seismic change happening.  It is a very small operation right now and no need to get ahead of themselves.  Until they have working units hot off the manufacturing line, no need to hype the product. They already have many contracts signed with the military and automotive companies, so they need to get production going ASAP.
  i would expect the automotive press to pick up on it shortly once they decide on a location. It's always good business to have 3 choices to decide on as then it is possible to fairly evaluate value.  I expect Cleveland is the preferred choice but if Michigan comes up with a sweetheart deal, is it worth it to still go with a Cleveland location?

Just a little FYI research because this subject piqued my interest (hadn't heard of them before this, but your insights on it really seem like a positive step for them). USPTO isn't showing the newest patent application issued yet. The last action I can see on the USPTO website was in January of this year (however, they may have already received notice of issuance and the website hasn't been updated, but USPTO usually has the website updated pretty quickly). With that said, in the intellectual property world, one doesn't usually wait for issued patents to start moving on business decisions (although I'm not in the automotive or parts industry, I do work with IP in a different sector). Regardless of the patent landscape for them (which takes several years for issuance--this patent application was filed in 2015, but is based on IP of theirs from 2008), if they have confidence in the product concepts, which I am assuming they do, they'd be making business decisions to move forward well before issuance. Even if they don't get this newest patent application issued with all the claims they are shooting for, the 2008 patent that this newest IP is based on is active, so they have rights to exclude others in this area already (but it expires in two years), and they will get something issued eventually on this new IP (again, assuming they haven't already got it issued and database isn't up to date).
« Last Edit: May 19, 2017, 08:49:42 PM by BOJ »

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1776 on: May 21, 2017, 12:53:24 AM »
Low inventory puts dent in Northeast Ohio home sales, down nearly 7% in April from a year before. Prices rise: https://t.co/M6hlc7feEp
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1777 on: May 21, 2017, 10:37:18 AM »
As the coasts grow exorbitantly expensive as places to live and do business, legacy cities with low costs of living yet big-city amenities like Cleveland, Pittsburgh, Detroit and Cincinnati are well-positioned to capture the relocation of back office functions and residents, a process that's already underway.

Marcus & Millichap beefs up institutional practice here
May 19, 2017 UPDATED 2 DAYS AGO
By STAN BULLARD   

The Marcus & Millichap real estate brokerage has expanded its Institutional Property Advisors unit for apartments in the Midwest with the appointment of three high-profile agents from its Cleveland office to it.

The three are Michael Barron and Dan Burkons, senior directors at Marcus & Millichap, and Joshua Wintermute, director, who are also members of the same brokerage team based at Marcus & Millichap's Crown Centre office.

Jeffery Daniels, national director of IPA Multifamily, said in a news release on Friday, May 19, that their selection is in part because, "The Midwest is an area of strategic importance; we are looking to grow our market share in this region over the coming years."

Barron said in an interview that IPA did not previously have representation in Northeast Ohio because it was started by Marcus & Millichap on the coasts.

MORE:
http://www.crainscleveland.com/article/20170519/NEWS/170519772/marcus-millichap-beefs-up-institutional-practice-here
« Last Edit: May 21, 2017, 10:48:52 AM by KJP »
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1778 on: May 21, 2017, 10:54:41 AM »
May 18, 2017
OHM Advisors Opens Cleveland Office in MidTown
Multidisciplinary consulting firm ranked 289 on the annual Engineering News-Record Top 500 Design Firms list, opens a second Northeast Ohio location in two years.

LIVONIA, MI, May 18, 2017 /24-7PressRelease/ -- Award-winning community advancement firm OHM Advisors is pleased to announce the opening of its newest office on Cleveland's burgeoning MidTown HealthTech Corridor, one of Northeast Ohio's premier business and urban districts.

Located on the second floor of the 6555 Carnegie Building in MidTown, this is the firm's second location to open in Northeast Ohio since merging with Brecksville-based Krock Esser Engineering in 2015.

...This is OHM Advisors' 12th office nationwide.

About OHM Advisors: OHM Advisors is a community advancement firm designing award-winning work across the architecture, engineering, and planning spheres. Founded in 1962, we believe in the power of multidisciplinary teamwork to find ideas that aren't just different - they're better. Nearly 400 employees throughout Michigan, Ohio, and Tennessee partner with leaders at all levels of government, road commissions, school districts, universities, private companies and developers, in order to create great places for people. www.ohm-advisors.com.

MORE:
http://www.digitaljournal.com/pr/3349641
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1779 on: May 22, 2017, 12:35:35 AM »
Cleveland on the verge of virtual reality boom
Carly Flynn Morgan , WKYC
May 18, 2017

CLEVELAND - Cleveland is known for its food and beer scene, sports and culture, but itís also becoming a budding hub for virtual and augmented reality. People in this field say virtual and augmented reality will change our daily lives similar to when the first iPhone was released. Right now, weíre on the eve of really implementing this technology into our everyday culture, but it will happen, and when it does Northeast Ohio could be on the forefront.

From a warehouse on the eastside, a group of Clevelanders were transported to a dank and dark haunted asylum. Creeping through hallways, opening doors, it felt like they were really there thanks to virtual reality.

MORE:
http://www.wkyc.com/mb/news/local/cuyahoga-county/cleveland-on-the-verge-of-virtual-reality-boom/440315026
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Offline Dougal

  • 555'-LeVeque Tower
  • ***
  • Posts: 386
Re: Cleveland: General Business & Economic News
« Reply #1780 on: May 25, 2017, 01:46:56 PM »
Nice report on the Cleveland MSA from the Bureau of Labor Statistics for April.  Using "adjusted" data, employment grew by 4,500 jobs while the workforce grew by 4,000, reducing the unemployment rate  by a tenth of a percent to 6.2%. Using raw data, employment grew by over 20,000 jobs, and the workl force grew by 10,000, reducing the unemployment rate to 5.4%. You can't pin too much on monthly numbers, but the trend is good. Let's see how Olivera Perkins turns this into BAD NEWS in the PD.

Using the adjusted numbers, the workforce is the highest it has been since January 2015. As an ex-Commerce Department employee , it's my feeling that the statistical model for Cleveland is a bit outdated and skews downward, since it is smoothed and modeled to follow longer-term trends. I believe Cleveland's long term downward move biases the adjustment in a way that shorter term numbers would not. The "real" current number probably lies somewhere above the adjusted data and closer to the raw numbers.


Online E Rocc

  • 2717'-Burj Khalifa
  • **********
  • Posts: 7841
  • Defender Of The Sprawl
Re: Cleveland: General Business & Economic News
« Reply #1781 on: May 26, 2017, 06:12:15 AM »
Nice report on the Cleveland MSA from the Bureau of Labor Statistics for April.  Using "adjusted" data, employment grew by 4,500 jobs while the workforce grew by 4,000, reducing the unemployment rate  by a tenth of a percent to 6.2%. Using raw data, employment grew by over 20,000 jobs, and the workl force grew by 10,000, reducing the unemployment rate to 5.4%. You can't pin too much on monthly numbers, but the trend is good. Let's see how Olivera Perkins turns this into BAD NEWS in the PD.

Using the adjusted numbers, the workforce is the highest it has been since January 2015. As an ex-Commerce Department employee , it's my feeling that the statistical model for Cleveland is a bit outdated and skews downward, since it is smoothed and modeled to follow longer-term trends. I believe Cleveland's long term downward move biases the adjustment in a way that shorter term numbers would not. The "real" current number probably lies somewhere above the adjusted data and closer to the raw numbers.

That's better than the alternative, but how valid are unemployment numbers in this era when so many who are not working are not counted?   

(Serious question, which sounds pointed on second reading but wasn't meant that way.)
"I mean, this man just can't be president of the US. I mean, they got this button, it's in a briefcase, he's gonna find it."
- P. J. O'Rourke

Offline KJP

  • Premium Member
  • *****
  • Posts: 38307
  • Rebuilding the cities that built America.
    • All Aboard Ohio
Re: Cleveland: General Business & Economic News
« Reply #1782 on: May 26, 2017, 08:11:32 AM »
I know this may be about as far from scientific data as it could possibly be, but I'm noticing what seems to be a lot more cars with New York and other East Coast state license plates parked on residential driveways and side streets in Lakewood and West Side Cleveland neighborhoods. I've been reading (and even writing about it myself) that more coastal back office operations may be relocated to Cleveland due to the lower costs of business and living here. I'm just wondering if that's actually starting to finally play out based on my unofficial license plate survey.
« Last Edit: May 26, 2017, 08:13:11 AM by KJP »
"Don't tell me what you value. Show me your budget and I'll tell you what you value." -- Joe Biden

Offline Dougal

  • 555'-LeVeque Tower
  • ***
  • Posts: 386
Re: Cleveland: General Business & Economic News
« Reply #1783 on: May 26, 2017, 09:33:47 AM »
That's better than the alternative, but how valid are unemployment numbers in this era when so many who are not working are not counted?   

That's the point of the work force number. If a person reports being unemployed, census takers ask the follow-up question"Are you actively looking for work?" A yes to that question gets the person included in the "work force" and "unemployed" numbers.  A growth in the workforce, which Cleveland has been seeing regularly this year, means either  that once-discouraged workers have rejoined the labor force (this is probably Cleveland's case) or that the population is growing. This is why an increase in the unemployment doesn't always mean people are being laid off.


Online sir2gees

  • 629'-Rhodes State Tower
  • *****
  • Posts: 656
Re: Cleveland: General Business & Economic News
« Reply #1784 on: May 26, 2017, 05:34:48 PM »
Sherwin-Williams wins U.S. antitrust approval to buy Valspar: FTC

Paint-maker Sherwin-Williams (SHW.N) has won U.S. antitrust approval to buy U.S. rival Valspar Corp (VAL.N), the Federal Trade Commission said on Friday.

To gain antitrust approval, the FTC required the companies to sell Valsparís North America Industrial Wood Coatings Business, which makes stains, sealants and other products used for kitchen cabinets and other goods.

The FTC, which valued the deal at $11.3 billion, said that the asset sale was needed because just three companies currently make the wood stains and sealants. A merger of two of them, Sherwin-Williams and Valspar, could lead to higher prices for the products.

https://www.google.com/amp/mobile.reuters.com/article/amp/idUSKBN18M263

Remove Ads