DETROIT BUSINESS MAIN 05-05-08 A 1 CDB 5/2/2008 6:35 PM Page 1 ® www.crainsdetroit.com Vol. 24, No. 18 MAY 5 – 11, 2008 $2 a copy; $59 a year ©Entire contents copyright 2008 by Crain Communica- THIS JUST IN Esperion UM architecture school names new dean buyback The A. Alfred Taubman Col- lege of Architecture and Ur- ban Planning at the Universi- ty of Michigan has named Monica Ponce de Leon as its goal: More new dean. Ponce de Leon is profes- sor of architecture and di- rector of the digital lab at drug offerings the Harvard University Gradu- ate School of Design. The appointment is BY TOM HENDERSON pending approval by the CRAIN’S DETROIT BUSINESS Board of Regents. Ponce de Leon is also a Roger Newton hopes he can make history principal at Boston-based repeat itself by reinventing Esperion Thera- design firm Office dA and peutics Inc., one of the most successful start- PHOTO ILLUSTRATION/ISTOCK.COM replaces Dean Doug Kel- ups in Michigan history. baugh, who is stepping A group of venture-capital partners has down after 10 years to re- bet nearly $23 million that he will succeed. turn to the faculty. Economic-development officials in Wayne and Washtenaw She joined the Harvard counties are betting that faculty in 1996 and has he will, too, and that his served on the faculties of Scene stealer? new company will also Northeastern University, Uni- serve as a much needed versity of Miami and Georgia Incentives draw ‘gold rush’ of film-related work to state incubator for biotech Institute of Technology. startups that until now — Chad Halcom BY DANIEL DUGGAN AND BILL SHEA Michigan Film Office, insiders say the state’s in- have found it very diffi- CRAIN’S DETROIT BUSINESS centives caused a wave of business on a scale cult to get access to wet Ex-hospice CEO to lead nobody imagined. Thirteen film projects have labs. (See story Page 34.) When Gov. Jennifer Granholm signed a pack- been approved for incentives by the state trea- Newton Newton founded Espe- women’s foundation age of incentives for filmmakers, Chuck Speed surer. rion Therapeutics in Ann was ready to go. Carolyn Cassin, named “It’s difficult for other states to beat this in- Arbor in 1998 as a small company that want- COO of Los Angeles-based Lexicon Entertain- ed to tackle a huge problem — high choles- one of Crain’s Most Influen- centive package because it’s so aggressive,” ment, he’s seen the cycle of incentives in other terol. He raised $200 million to fund drug tial Women in 1997, is re- said Chris Baum, senior vice president of sales states and has learned one thing — there is a development over the years, took the com- turning to Michigan to be- and marketing for the Detroit Metro Convention & come president and CEO of prize for first. pany public in a $54 million initial public “We didn’t want to waste any time,” he said. Visitors Bureau, which is promoting Detroit to offering in 2000, then sold it to drug giant the Michigan Women’s Foun- filmmakers. dation. “In other states, those who get in early and Pfizer Inc. for $1.3 billion in 2004. “Films that were due to shoot in other states Cassin, who has been build relationships have access to things that Thursday, Pfizer announced it had sold are picking up roots and moving here instead president and CEO of the the latecomers don’t.” Esperion back to Newton. Financial terms because it’s too much money to pass up.” were not disclosed, but Newton told Crain’s Jacob Perlow Hospice in New Speed’s company is now producing a movie Those in the film business are getting pre- Friday that all of the money he raised will York City since 2002, will and a TV series locally and has rented office pared for deal-hungry film executives to pounce go toward product development and clini- join the foundation in Sep- space in two Detroit buildings. tember, said board chair- With close to 100 other scripts waiting in the See Films, Page 36 See Esperion, Page 34 man Linda Forte, senior vice president of business af- fairs at Comerica Bank. She replaces interim president Delores Givens, who has served for the past Area execs back green spending if it yields green year since Barbara Hill left to take a position at Mary- this (the environment) and worked something grove College. BY CHAD HALCOM out 10 years ago, when we could handle it,” said Before moving to New RETURN TO THE CITIES CRAIN’S DETROIT BUSINESS Diana Fisher, owner and president of Bogart’s York, Cassin was CEO for Land costs, Southeast Michigan executives favor spending R E D Baskets & Gifts Inc. in Ferndale. “But right now is- 10 years of what is now Hos- D S E V incentives are L E on the environment if it yields a return, or if it n’t a good time; and for business, I favor keeping pice of Michigan. E L driving growth in I O benefits the public without a significant dent in things status quo at least until the (economic) sit- F redevelopment at She later served as COO P N uation changes.” M the bottom line. of Phoenix-based VistaCare, a time when W E Detroit hosts the But shelling out big green just to go green is a Like most respondents, Fisher favors changes O overseeing a four-state, N R major national that benefit the environment in principle and T tougher sell, according to a recent survey of 400 $100 million hospice chain B conference would like to see Michigan adopt renewable-ener- business owners, managers and department from a Southfield office. Brownfields 2008. R T gy standards for utility companies and a new E R P — Sherri Begin O heads for Crain’s Detroit Business and Honigman Page 11. state brownfield cleanup fund, but she opposes See This Just In, Page 2 Miller Schwartz and Cohn L.L.P. “We probably should have thought about all See Green, Page 37 Homemade music forces CRAIN’S LISTS area studios to adapt, Commercial, industrial brokers; NEWSPAPER Page 23 industrial parks, Pages 20, 22 DETROIT BUSINESS MAIN 05-05-08 A 2 CDB 5/2/2008 6:13 PM Page 1 Page 2 CRAIN’S DETROIT BUSINESS May 5, 2008 Lionel moves HQ to New York thority, the administration and Energy conference for biz Origen to sell servicing assets THIS JUST IN state government in general. Model train maker Lionel L.L.C., — Robert Ankeny Area businesses can learn im- Southfield-based Origen Finan- ■ From Page 1 which emerged from a long bank- mediate ways to begin saving en- cial Inc. (Nasdaq: ORGN) a real es- ruptcy last week, is moving its WSU, faculty sign contract ergy in their operations during tate investment trust that origi- Studio One lands Radio Shack, headquarters to New York City the Energy Conference and Exhi- nates and services loans for from Chesterfield Township. Wayne State University last week bition taking place Tuesday. buyers of manufactured housing, Utrecht Art Supply The company’s owners, which reached a tentative agreement in Sponsored by the Engineering So- has entered into an agreement include musician Neil Young and its first labor contract with a re- ciety of Detroit and DTE Energy Co., with Minnesota-based Green Tree When Detroit’s newest mixed- CEO Jerry Calabrese, expect Lionel the event will include exhibitions Servicing L.L.C., to sell the assets of use development, Studio One, is cently formed union of part-time to generate $70 million in sales instructors, union leadership from energy companies from its servicing platform. completed in June, it will include this year by introducing new around the U.S. and a panel dis- Origen, which will ask for Radio Shack and Utrecht Art Supply, confirmed Friday. train sets and partnering with The Union of Part Time Faculty cussion about the future of energy stockholder approval of the sale both expanding from nearby. New York institutions such as efficiency and productivity, fea- at an annual meeting to be sched- said it reached the agreement Formerly called South University Macy’s Inc. and the Metropolitan turing top executives from Ford uled in June, will transfer about Wednesday. The UPTF repre- Village, the project is a five-story Transit Authority. Motor Land Development Corp., Nex- $1.6 billion in loans and its lease sents more than 700 part-time fac- building developed on the site of — Crain News Service tEnergy, Durr Systems Inc., Bank of of a Fort Worth, Texas, facility. ulty members who voted to a former Vernors plant on Wood- America (formerly LaSalle Bank), The sale price was not dis- unionize in April 2007. ward Avenue between Canfield General Motors Worldwide Facilities closed. The proceeds will retire Amanda Hiber, a writing in- and Forest avenues. It will have Housing tax credits set for fall Group and Altair Engineering Inc. one loan of $15 million, partially structor in WSU’s English depart- 30,000 square feet of retail and 124 About $16 million in low-in- The daylong conference is $65 repay another loan of $46 million apartments. come housing tax credits should ment and chair of the UPTF Com- for ESD members and $85 for and provide working capital. Also filling retail space is a 40- be awarded in early fall, Keith munications Committee, said nonmembers. For more informa- Origen has been hard hit by employee Fifth Third Bank branch Molin, interim executive director contract provisions call for a tion, visit www.esd.org or call credit crunch resulting from the and lending office, which will of the Michigan State Housing De- floor compensation rate of $700 (248) 353-0735.