20110815-NEWS--1-NAT-CCI-CL_-- 8/12/2011 2:41 PM Page 1

VOL. 32, NO. 33 $2.00/AUGUST 15 - 21, 2011

Insiders see slide as opportunity to buy Officers, directors snatch up shares before and amid last week’s gyrations

By MICHELLE PARK directors and officers of companies [email protected] including Cliffs Natural Resources Inc., Olympic Steel Inc. and Timken Co. At a time when many investors have have bought tens, and sometimes scurried to sell, a number of Northeast hundreds, of thousands of dollars of Ohio company insiders have hurried to their companies’ stock. buy. Among them were P. Kelly Tomp- In the days before, during and after kins, a Cliffs executive, who bought last Monday’s stock market plunge, See BUY Page 17

Cliffs Natural Resources (CLF) Olympic Steel Inc. (ZEUS) Timken Co. (TKR)

Closing price, July 22: $99.86 Closing price, July 22: $28.80 Closing price, July 22: $48.76 Closing price, Aug. 9: $73.71 ■ Change: -26% Closing price, Aug. 9: $20.73 ■ Change: -28% Closing price, Aug. 9: $35.94 ■ Change: -26% Buyers: Buyers: Buyers: ■ Aug. 1, P. Kelly Tompkins, executive vice president: ■ Aug. 5, Richard T. Marabito, chief financial officer: ■ Aug. 8, Frank C. Sullivan, director: 3,000 shares 2,500 shares ($223,000) 2,000 shares ($49,580) ($99,660) ■ Aug. 2, Andres Gluski, director: 1,130 shares ■ Aug. 5, Michael D. Siegal, chairman of the ■ Aug. 8, John M. Ballbach, director: 1,000 shares

($99,911) board/CEO: 1,500 shares ($37,185) ($36,560) LAUREN RAFFERTY ILLUSTRATION

Invacare’s ‘One’ aimed INSIDE Energy companies rush to Getting fit while at the office Ohio’s oil, promise billions at streamlined output More companies are incorporating wellness programs and fitness By CHUCK SODER centers into their facilities as a way Discovery in shale follows area’s natural gas boom [email protected] to keep employees healthy and happy and, in turn, cutting health By DAN SHINGLER Buckeye State over the next 20 A less-than-enthusiastic group of care costs. [email protected] years, predicts the man running the Invacare Corp. engineers delivered Read Dan Shingler’s story in largest energy company working on what seemed like bad news. our Health and Wellness section. Imagine tens of billions of dollars Ohio’s shale. They had come up with a design Page 13 of private capital being invested in “When’s the last time any industry that could improve the stability and Ohio. showed up and said, ‘I’m going to agility of Invacare’s newest power Blouch Stumpp Now stop imagining and keep invest $10 billion a year in a state for wheelchair. Then they found out that reading, because a large oil and gas a couple of decades?’ I think that’s an Australian company called Roller recalling the meeting from a few company says that’s exactly what’s about what’s going to happen in Chair already had a patent on it. years back. about to happen thanks to a recent Ohio,” Chesapeake Energy Corp. Invacare CEO Gerald Blouch encour- For decades, Invacare’s business discovery of huge oil reserves in the CEO Aubrey McClendon recently aged them to look on the bright side. units all over the world have operated shale rock beneath the eastern half told CNBC stock picker Jim Cramer. “I said, ‘That’s the bad news. You almost as if they were separate com- of the state. Oklahoma City-based Chesapeake know what the good news is? We panies. The result: They sold a bunch How huge? Enough that $200 and other companies have been own Roller Chair,’” said Mr. Blouch, See INVACARE Page 10 billion likely will be invested in the See OIL Page 7 33

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2 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011 COMING NEXT WEEK IT COULD BE WORSE Cuyahoga and its six contiguous counties all had June unemployment rates Dose of reality below the state’s non-seasonally adjusted 9.2% average, according to data from the Ohio Department of Job and Family Services. Those seven counties Our Special Report section will were among just 28 of Ohio’s 88 counties that could make that claim. Northeast 700 W. St. Clair Ave., Suite 310, Ohio had four of the 10 counties with the lowest unemployment rates in Ohio. Cleveland, OH 44113-1230 look at health care construction Phone: (216) 522-1383 in Cuyahoga and surrounding Fax: (216) 694-4264 counties, what’s driving it and County June unemployment Statewide rank www.crainscleveland.com whether it’s sustainable. Delaware 6.6% 1 (tied) Publisher/editorial director: Brian D. Tucker ([email protected]) Geauga 6.6 1 (tied) Editor: Mark Dodosh ([email protected]) CORRECTIONS REGULAR FEATURES Medina 7.0 5 Managing editor: Scott Suttell ([email protected]) The Aug. 8 list of Largest For- Classified ...... 18 Lake 7.4 6 Sections editor: eign-Owned Companies included Amy Ann Stoessel ([email protected]) Editorial ...... 8 Lorain 8.2 10 Assistant editors: an incorrect first name and title for Joel Hammond ([email protected]) the top local executive of Philips Going Places ...... 12 Portage 8.7 19 Sports Healthcare. The executive, Jay List: Suburban office Kathy Carr ([email protected]) Mazelsky, is senior vice president Cuyahoga 8.8 21 (tied) Marketing and food and general manager of computed buildings ...... 16 Senior reporter: Summit 8.9 24 Stan Bullard ([email protected]) tomography and nuclear medicine. Personal View...... 8 Real estate and construction Reporters: Jay Miller ([email protected]) Government Chuck Soder ([email protected]) Technology Dan Shingler ([email protected]) Manufacturing Tim Magaw ([email protected]) Health care & education Michelle Park ([email protected]) Finance Research editor: Deborah W. Hillyer ([email protected]) Cartoonist/illustrator: Rich Williams Marketing/Events manager: Christian Hendricks ([email protected]) Marketing/Events Coordinator: Jessica Snyder ([email protected]) Advertising sales director: Mike Malley ([email protected]) Account executives: Adam Mandell ([email protected]) Dirk Kruger ([email protected]) Nicole Mastrangelo ([email protected]) Dawn Donegan ([email protected]) Office coordinator: Toni Coleman ([email protected]) Web/Print production director: Craig L. Mackey ([email protected]) Production assistant/video editor: Steven Bennett ([email protected]) Graphic designer: Lauren M. Rafferty ([email protected]) Billing: Susan Jaranowski, 313-446-6024 ([email protected]) Credit: Todd Masura, 313-446-6097 ([email protected]) Audience development manager: Erin Miller ([email protected])

Crain Communications Inc. Keith E. Crain: Chairman Rance Crain: President Merrilee Crain: Secretary Mary Kay Crain: Treasurer William A. Morrow: Executive vice president/operations Brian D. Tucker: Vice president If you have an opportunity, we’re ready. We’re ready to help Robert C. Adams: Group vice president you achieve that next level of success, just like all the businesses technology, circulation, manufacturing we’ve extended nearly 10 billion dollars to so far this year. And Paul Dalpiaz: Chief Information Officer Dave Kamis: we plan to lend another 28 billion dollars in the year to come. Vice president/production & manufacturing We also support local businesses with financial solutions and G.D. Crain Jr. Founder (1885-1973) services that can improve productivity and, ultimately, help them Mrs. G.D. Crain Jr. Chairman (1911-1996) achieve success. Find out how we can help you drive results at Subscriptions: In Ohio: 1 year - $64, 2 year - $110. 53.com/drivingresults or call 1-877-804-2091. Outside Ohio: 1 year - $110, 2 year - $195. Single copy, $2.00. Allow 4 weeks for change of address. For subscription information and delivery concerns send correspondence to Audience Development Department, Crain’s Cleveland Business, 1155 Gratiot Avenue, Detroit, Michigan, 48207-2912, or email to custom- [email protected], or call 877-812-1588 (in the U.S. and Canada) or (313) 446-0450 (all other locations), or fax 313-446-6777. Reprints: Call 1-800-290-5460 Ext. 125 Audit Bureau of Circulation Loans subject to credit review and approval. Rates may vary based on credit qualifications. Fifth Third Bank, Member FDIC. Equal Housing Lender. 20110815-NEWS--3-NAT-CCI-CL_-- 8/12/2011 3:18 PM Page 1

AUGUST 15 - 21, 2011 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 3 Governor’s JobsOhio plan ‘appalls’ Akron

of his administration’s over many of the financial Mayor fears economic development blueprint ignores city’s interests successful efforts at keeping incentives the state offers two rubber company oper- to expansion-minded busi- By JAY MILLER City in with Cleveland, Youngstown to hand over oversight of state eco- ations from leaving Akron, nesses and those that are [email protected] and Ashtabula, will hamper his nomic development efforts — and said the Kasich administra- looking for homes for new ability to attract business invest- the disbursement of millions of tion “didn’t even have the ventures. Eventually, it also It’s not that Don Plusquellic ment to his community. dollars in loans, grants and tax breaks courtesy to come into town will control as much as doesn’t like his city being a part of “We are appalled at what’s hap- to businesses that want to grow — and sit down with us and $100 million annually from the region called Northeast Ohio. pened,” Mayor Plusquellic said in a to a network of regional nonprofit the chamber (of com- Plusquellic state liquor profits that it It’s just that Akron’s mayor believes telephone interview last Thursday, organizations that will report to this merce) and the business will invest in helping com- strongly that Gov. John Kasich’s Aug 11. new entity, JobsOhio, itself a non- community” to talk about how best panies create jobs. plan for a new nonprofit job creation The mayor was responding to a profit. to do economic development. Instead of building a centralized agency, which lumps the Rubber question about Gov. Kasich’s plan Mayor Plusquellic, who is proud JobsOhio is slated to take control See AKRON Page 4

INSIGHT FACING Steris still COMMUNITIES’ optimistic, NEW REALITY but doubt Armed with development pedigree, Neighborhood Progress boss embraces lingers schools, immigrants as crucial next steps Sales of new sterilization system lag as unit of J&J By STAN BULLARD [email protected] poses competitive threat

By CHUCK SODER wo things are clear imme- [email protected] diately about Joel Ratner, Despite a few hurdles — a big drop the new president and in shipments, regulatory issues and CEO of Neighborhood a big-name competitor — Steris Corp. TProgress Inc. says it could sell as many as 9,300 System 1E machines while hospitals One: He is aggressive. still are scrambling to buy them. Two: He speaks his mind. Even if it can reach that figure, though, there’s no guarantee Steris’ Although the mechanisms for flagship product line will retain its doing so are uncertain at this point, lock on the market for endoscope Mr. Ratner said his charge is to sterilizers. Mentor-based Steris expects to broaden the nonprofit’s mission have sold between 6,300 and 9,300 beyond the real estate develop- System 1E units by the time its fiscal year ends on March 31, 2012. By ment and financing role it long then, it will be illegal to use the orig- has played as an intermediary inal System 1 to clean endoscopes channeling corporate and founda- and other medical equipment. The U.S. Food and Drug Administration tion money to neighborhoods. has given System 1 users until Feb. 2, “I’m not a real estate develop- 2012, to replace Steris’ older machine with the System 1E or a competing ment guy,” Mr. Ratner said. “I’m device. not one of the Forest City Ratners. That’s why Steris is rushing to sell I bring a new way of thinking to the System 1E, which it developed after the FDA revoked its approval NPI. It’s not to say real estate will for the original machine. The FDA not remain important for NPI. said the agency never was asked to JANET CENTURY review several changes that the However, real estate development Joel Ratner, president and CEO of Neighborhood Progress Inc., says he wants company made over the years to the See RATNER Page 6 to better address “the new realities of the neighborhoods.” System 1, which formerly accounted for about 10% of Steris’ revenues and even more of its profits, when related THE WEEK IN QUOTES accessories and consumables are included. Steris will need to sell a lot more “A lot of the com- “We think (the intro- “We believe that “It can be hard to eat System 1E units in the next three plexity had nothing duction of ‘narrow people who exercise healthy at work quarters if it is to reach even the lower end of its sales estimate. The company to do with patient networks’) is going to and work out are because often people sold just 700 units during the first needs. It had to do continue because ... more productive.” bring foods they are quarter of fiscal 2012, which ended June 30, down from 1,300 during the with regulations.” employers are — Renee Barrett, fitness trying to get rid of fourth quarter of fiscal 2011. Steris director, NASA Glenn Research sold about 50 System 1E units in — Gerald Blouch, CEO, looking for ways to Center. Page 13 from home.” Invacare Corp. Page One December 2010, when it launched control their health — Kim Horvath, a registered the product. dietitian with EMH Regional During an Aug. 2 conference call, care costs.” Healthcare System. Page 15 when a stock analyst asked why first- — Mark Alder, area president quarter System 1E sales fell 46% of Gallagher Benefit Services. See STERIS Page 17 Page 7 20110815-NEWS--4-NAT-CCI-CL_-- 8/12/2011 2:41 PM Page 1

4 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011 Akron: Mayor sees Cleveland focus

continued from PAGE 3 business. they say, is that Team NEO thinks bureaucracy to manage that task, “It sounds like what we get out of about Cleveland first when it shows JobsOhio intends to contract with six Washington, the rhetoric and horse- site selectors locations for new busi- regional organizations that will assist shit,” the mayor said. “(JobsOhio) nesses. businesses that want to expand. These sounds like the same bureaucratic Tom Waltermire, CEO of Team organizations, including Team NEO, crap that we’ve had to deal with NEO, said his organization, which the 8-year-old Northeast Ohio eco- from Washington.” employs 16 economic development nomic development nonprofit, are In response to that earthy criticism, professionals who market the region to be JobsOhio’s development work Gov. Kasich’s spokesman, Rob to the world, will rely heavily on the force. Team NEO will be JobsOhio’s Nichols, said, “The mayor has been regional chambers of commerce representative in 18 counties from in office a quarter of a century and and other business nonprofits in Sandusky and Mansfield to the west Akron has fewer jobs today than the region to carry out the JobsOhio and Ashtabula and East Liverpool to when he took office. Far be it for programs. He said he will bring no the east. him to provide us with advice on more than five people into Team Gov. Kasich believes this decen- how to create jobs.” NEO’s Cleveland office to handle tralized operation will help business Mr. Nichols said Ohio had to the JobsOhio workload. development projects move, as he change the way it did job creation, Asked about Mayor Plusquellic’s often says, “at the speed of business,” since the state has been losing jobs criticism of the new economic not at bureaucracy’s slow pace. But for so long. development system, Team NEO Mayor Plusquellic contends that “We look forward to showing him responded with a brief statement Team NEO will be an impediment, how JobsOhio will be even more from spokeswoman Jenny Febbo: hampering his ability to attract new successful for him,” Mr. Nichols “We deeply value our relationship businesses to Akron and Summit said. “At the end of the day, we with the city of Akron; they have one We Buy and Loan on County. couldn’t keep doing what we were of the most talented and committed Had Gov. Kasich asked, Mayor doing with economic development economic development groups in Luxury Watches Plusquellic said he would have argued in the state. It was not working, we the region. We’re very open to for a structure that allowed his city were bleeding jobs and the state actively soliciting ideas and sugges- Rolex, Cartier, Vacheron and the Greater Akron Chamber to was dying.” tions for the region, but we serve an continue to have direct access to 18-county region so it (any sugges- Power brokers Constantin, Patek Philippe state programs, instead of working tions) would have to be something through a new organization that he Mayor Plusquellic also complained that works for all 18 counties.” maintains doesn’t have the experi- specifically about Team NEO, Time to build $10,000 – $250,000 ence of the Akron people in making which until now has focused on Patek Philippe deals work. making national and international In an earlier conversation, Mr. Ref. 3970 18k Yellow Gold The mayor cited in particular companies aware of expansion Waltermire said he believed the Third Generation Checks or wires done same day. › Akron’s successful efforts to keep the opportunities in Northeast Ohio. reorganization of state economic Gi`mXk\#:feÔ[\ek`Xc#Xe[;`jZi\\k%@ headquarters of Goodyear Tire & Under the JobsOhio plan, Team development activities would help n`ccZfd\kfpfli_fd\fif]ÔZ\#fipfl Rubber Co. and the groundwork his NEO also will play a big role in linking businesses looking to grow and he may come to mine – k_\Z_f`Z\`jpflij% administration and the Akron chamber existing Northeast Ohio companies sounded sensitive to the concerns laid that retained the Bridgestone with state financial incentives avail- of mayors such as Mr. Plusquellic. › Americas technology center in Akron. able to businesses that want to “I’m sympathetic to public offi- 9Xebi\]\i\eZ\jXmX`cXYc\lgfei\hl\jk% Mayor Plusquellic said the new expand or are being lured out of the cials elected to spur economies regional offices that are part of Jobs- region. inside their jurisdictions (who) want executiveloans.com Ohio add another level of adminis- Mayor Plusquellic complained to have control of as many levers as e tration, which he found ironic, that Team NEO, which he sees as a possible over what’s going to :XccA`dD%›:\cc1 )(- /*,%.)0- because, he noted, Gov. Kasich cam- Cleveland-centric organization, will happen inside their communities,” C`Z\ej\[#9fe[\[#Xe[@ejli\[›GXne9ifb\iC`Z\ej\G9%(''-('%'') paigned so loudly against state and be usurping a role best handled by he said last Monday, Aug. 8, during federal bureaucracies that obstruct public officials, who he maintains a meeting with Crain’s editors and have worked the hardest to find all reporters. “If I was one of them, I’d the financial incentives available to feel the same way.” keep businesses growing in their Gov. Kasich’s spokesman, Mr. community. Nichols, urged Mayor Plusquellic to “This (Team NEO) is a big agency work with Team NEO. that has no control from elected of- “His distrust or rivalries with ficials or anybody (in government) neighboring cities, we can’t help him as far as I’m concerned,” he said. with,” he said. “The governor has “It’s granting them the power to do talked since January about Ohioans this. How do they do that sitting in needing to put aside geographic one office in Cleveland?” squabbles and get rolling in the Team NEO officials have worked same direction. We have massive hard to earn the trust of public offi- challenges in the state. This protecting cials in all parts of the region it one’s turf is not helpful.“ Smarter is doubling the likelihood your serves. But efforts to resolve the Mr. Waltermire, an Akron native, tension between Team NEO and said he believes the new organiza- employees will take charge of their health. public officials in Summit County tion he is building can win the trust have not been fully successful, said of the region’s public officials over various veteran economic develop- time. Aetna gets your employees more involved ment officials, who asked not to be “We’re going to need to build it,” in their health and savings. With Aetna, identified. The feeling in Akron, he said. ■ employees are 2X more likely to actively plan for health and consider their options, helping you manage your bottom line without COMING UP sacrificing quality care. s Proven record of short-term and 2011 Emerald Awards reception sustainable savings. Crain’s on Sept. 20 will for the bottom line” — profits, people and s Decrease overall medical costs by 7% and prescription costs by 14%. third time honor our region’s sustain- planet. ability champions at the 2011 Emer- The event is sponsored by s Proven savings of more than $400 per ald Awards reception, held at the Fairmount Minerals and member per year. new Student Center at Cleveland Cleveland.com. s 10% fewer non-routine physician visits. 5% State University. For more information and to less non-urgent ER visits.1 The awards identify companies register, visit CrainsCleveland.com/ If you’re a company with 100+ employees, and and individuals adhering to the “triple emerald. would like to discuss an annual “health plan checkup,” please contact Jonathan Hendrix at 330-659-8044, or [email protected].

is Volume 32, Number 33 Crain’s Cleveland Business (ISSN 0197-2375) is published weekly, except for com- See the proof and the savings at smarter .aetna.com bined issues on the fourth week of May and fifth week of May, the fourth week of June and first week of July, the third week of December and fourth week of December at 700 West St. Clair Ave., Suite 310, Cleveland, 1Aetna HealthFund® Seventh Annual Study Results, released December 2010. ©2011 Aetna Inc. Plans offered by Aetna Life Insurance Company and its affiliates. Health insurance plans contain exclusions and limitations. OH 44113-1230. Copyright © 2011 by Crain Communications Inc. Periodicals postage paid at Cleveland, Ohio, 2011109 and at additional mailing offices. Price per copy: $2.00. POSTMASTER: Send address changes to Crain’s Cleveland Business, Circulation Department, 1155 Gratiot Avenue, Detroit, Michigan 48207-2912. 1-877- 824-9373.

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6 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011 NYC group wins bid for KeyBank Center Ratner: Group diversifies

coverage provider and warranty address of AmTrust Financial’s And it may brings 200 services concern — is not related to headquarters in New York, and it from strict real estate focus more jobs to office site AmTrust Bank, the former owner of has offices at 33 W. Monroe in continued from PAGE 3 region. Ohio Savings Bank that now is part Chicago. has changed dramatically (after the Mr. Ratner “is a very aggressive By STAN BULLARD of New York Community Bank. Relocating AmTrust Financial’s recession and foreclosure crisis). guy, a smart guy. He tells you what [email protected] Nathan Aber, president of operations in Seven Hills from a We need a demolition policy now, so he thinks,” Mr. Abbott said. He noted AmTrust Realty, did not return mul- 60,000-square-foot building at 5800 we need to use all the tools beyond that Mr. Ratner had pushed the idea The embattled, 23-story KeyBank tiple calls about the proposed pur- Lombardo Center that is owned by real estate we can to help the neigh- of regional government collabora- Center in downtown Cleveland not chase, nor did company officials in an affiliate led by Michael Karfunkel borhoods advance.” tion so effectively that three of the only is about to get a new owner, but Seven Hills. — whose family is the equity behind Though he grew up here and lives Fund for Our Economic Future’s it also stands to gain a new tenant that Mr. Aber, a former executive at AmTrust Realty — would give in Beachwood, Mr. Ratner said he is grants to foster studies of govern- could bring more than 200 jobs from the famed but extinct Olympia & York AmTrust Realty a base to rebuild the not related to the Ratner family with ment collaboration went to Mahoning the suburbs. realty firm in New York, launched tenancy at KeyBank Center. Espe- huge stakes at Forest City. Valley recipients. AmTrust Realty of New York City AmTrust Realty in 1998 by buying cially suiting such a move is that Keeping the nonprofit’s real estate Priming the pump was the winning bidder in a July 27 59 Maiden Lane, a 41-story building KeyBank Center includes a huge capabilities intact while expanding Internet auction for the lender- in Manhattan, according to Crain’s parking garage. the scope of Neighborhood Progress Since its founding, Neighborhood owned tower at 800 Superior Ave. If New York Business. AmTrust Realty AmTrust was the taker in an on- is what Mr. Ratner said he now is Progress has pumped more than the purchase closes — and if an in 2004 waded into the Chicago line auction by www.auction.com investigating. He said his “musings” $20 million into local development incentive deal is struck with the city market and bought a 28-story sky- in which the structure sold for $7 so far have been about engaging projects. Through its Village Capital of Cleveland — it will clear the way scraper at 33 W. Monroe St., the for- million, following bidding that opened Neighborhood Progress in educa- program, it assists neighborhood for more than 200 workers to come to mer headquarters of the defunct at $3.5 million. Even the larger figure tion with public and charter schools real estate projects with funds. And the building from a unit in Seven Hills Arthur Andersen consulting firm, is a huge vulture play for a property because successful neighborhoods through its New Village Corp., the of sister company AmTrust Financial according to Crain’s Chicago Busi- that last sold for $45 million in 2007. tend to have at least one good nonprofit helps community devel- Services Inc., according to three ness. LNR Partners, a firm in Miami school. Mr. Ratner said his group opment corporations and private sources familiar with the situation. Beach specializing in buying Big vacancies? No problem might assist schools with the prop- developers with projects too large or Two of the sources said relocating distressed properties or managing erty side of their operations or form risky for them to undertake alone. AmTrust Financial jobs to Cleveland In situations similar to KeyBank them for lenders, had ordered the affiliations with charter schools. Neighborhood Progress has played from outside the region also could be in Center, which soon will have a 60% auction. LNR’s website last Thursday, He said he also hopes Neighbor- a role in more than $800 million in the mix. None of the sources agreed vacancy rate, AmTrust Realty in the Aug. 11, showed the office building hood Progress can participate in projects, such as the decade-old to be identified because they are not New York and Chicago deals was at 800 Superior as “under contract.” assisting development associated renovation of the 200,000-square- authorized to discuss the unfolding undaunted by buying buildings that LNR’s broker here, Michael with immigrant communities and foot Lee-Harvard Shopping Center situation publicly. were half empty. It bought 59 Maid- Guggenheim of Guggenheim Realtors economic development associated with Forest City Enterprises Inc. It also AmTrust Financial — a small busi- en Lane at an auction. in Beachwood, declined to discuss with the arts. is a co-developer with Pennrose, a ■ ness insurer, workers’ compensation Today, 59 Maiden Lane is the the winning bidder’s identity. “It’s not for every neighborhood, Philadelphia real estate concern, in but where appropriate, we think it the creation of 72 apartments for can help a neighborhood succeed,” the elderly in a $20 million project Mr. Ratner said. “It’s not a one-size- that recently got under way at the fits-all type of thing.” long-empty St. Alexis Hospital com- Mr. Ratner became the top staff plex on Shaker Boulevard. Treat your customers like manager at Neighborhood Progress Philip Star, an executive in resi- Jan. 3, succeeding Eric Hoddersen, dence at Cleveland State University who ran the organization for most who headed the now-defunct they’re royalty and they’ll of its history since its 1989 founding. Neighborhood Development Center Mr. Ratner joined the nonprofit think tank, said Cleveland commu- after serving as president of the Ray- nity development corporations treat you with their loyalty. mond John Wean Foundation in tended to be more successful at Warren, which plays a role not large-volume housing development unlike that of the Cleveland Foun- programs than others in the nation, dation in Cleveland. Mr. Ratner joined but that time is past. Wean from a job at the Cleveland “These are tough times for real Foundation, where he managed estate development initiatives. With its Neighborhood Connections pro- NPI’s efforts in reimagining Cleve- gram that awards small $5,000 land to find new uses such as gardens grants to neighborhood programs. and green space for vacant land, it is While Mr. Ratner now heads an already showing they are moving organization that receives substan- away from a real estate develop- tial money from the Cleveland and ment model,” Mr. Star said. “They George Gund foundations, David are moving to a community building Abbott, Gund’s executive director, model.” Community building focuses said he hated to see Mr. Ratner on emphasizing a neighborhood’s leave his Warren job for Neighbor- assets to its advantage. TV & WI-FI TOGETHER FOR ABOUT hood Progress. Mr. Ratner brought Asked how he would define victory Wean and the Mahoning Valley into in his new job, Mr. Ratner answers: the Fund for Our Economic Future, “Helping get the system moving to- $19 A WEEK. a foundation-led effort to foster ward being responsive to the new economic change throughout the realities of the neighborhoods.” ■

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AUGUST 15 - 21, 2011 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 7 Oil: Area provides energy Insurers offer ‘narrow’ networks Plans provide savings on This month, Aetna rolled out such surge in business for the group’s outfits proper resources a plan designed for small businesses in-house medical providers, Kaiser health care, but further that focuses on the use of hospitals Permanente is opening three new continued from PAGE 1 is in the early stages of its hiring with and physicians within the Lake medical offices in the region, bringing touting and producing natural gas regard to the Ohio oil find. It’s trying restrict patient choices Health System in Lake County, said its total count to 13. from the shale in this part of the to fill 30 positions for drilling rig Jay Timm, president of Aetna’s Ohio “What our signature plans do for United States for a few years now, workers in Canton, he said, and By TIMOTHY MAGAW and Kentucky markets. The plan us is that we’re saying to customers, but this is the first time they’ve expects to hire many more in the [email protected] shaves 12% off the price of Aetna’s patients and employers that this is a found a major oil reserve to boot. future. They will be a mix of Ohioans traditional small-group insurance higher-performing group in our And it has Mr. McClendon more and others with industry-specific Some health insurers are starting offering. stable of health care products,” Dr. than a little excited. expertise, he said. to offer businesses and individuals a “Without a doubt, the cost is Ronald Copeland, president and “We think this new Utica shale “We’re in the beginning phase of break on their premiums in exchange driving this trend,” Mr. Timm said. executive director of the Ohio discovery, on top of the Marcellus hiring, so we will be looking for for access to a smaller pool of doctors Mr. Timm said driving most of an Permanente Medical Group, said. shale discovery in western Pennsyl- experienced industry professionals — an arrangement observers say insurance plan’s patients toward a “There’s less choice in the number vania … could be transformative — some who are Ohioans who are could slow the growth of skyrocketing particular health system is “a much of locations because the value events, not just for this area, but the moving back to Ohio — and once health care costs. tighter approach,” as it allows proposition is much higher.” whole U.S. as well,” Mr. McClendon those are in place, the local hiring Known as “narrow-network plans,” Aetna to work with those physicians Other insurers are exploring the said Aug. 1 on Mr. Cramer’s “Mad process will gain momentum,” Mr. the trend has swept parts of the to keep costs low — a goal, he noted, concept in the region but haven’t Money” television show. Fuller said. “Initially, however, the country and is emerging in Northeast that is harder to achieve with a broad yet pulled the trigger. A spokeswoman “This could be 25 billion barrels larger number of hires will be made Ohio. Although the idea of sacrificing network of physicians and hospitals. for Anthem Blue Cross and Blue Shield of oil,” Mr. McClendon said. “It could by area contractors and vendors.” choice might be a tough sell for some “There’s such a variation in health in Ohio, for one, said there were be one of the biggest discoveries in Some of those contractors and consumers, many in the insurance care costs from physician to physi- ongoing discussions about the pos- U.S. history.” vendors already are getting work industry suggests that rising costs cian, and when you blend those sibility of introducing narrow net- That announcement came just from Chesapeake. It has contracted could make the tradeoff worthwhile. together, it makes for a significantly work plans, but there was no confir- after Mr. McClendon’s July 29 con- with several Ohio companies for “Though they’re not for everyone, expensive product,” he said. mation or time frame for a rollout. versation with other securities ana- services and supplies ranging from we have had a couple clients that Likewise, Kaiser Permanente is UnitedHealthcare launched pilots lysts, where he said, “We are happy surveying work to building trailers moved in that direction,” said Mark looking to steer more customers away throughout the country, but Patricia to report confirmation of market to haul oil-field materials and Alder, area president of Gallagher from other health care providers by Horvath, executive director for the rumors that Chesapeake has made equipment, said company spokes- Benefit Services, formerly Herbruck promoting its new insurance offer- company’s Northern Ohio region, a major new liquids-rich discovery woman Jacque Bland. Alder. “We don’t have a crystal ball, ings, dubbed “signature plans,” that said in an email that the company in the Utica shale of eastern Ohio.” Steelmakers such as Timken Co. but we think this is going to continue emphasize the use of the insurer’s was keeping tabs on pilots in other Mr. McClendon predicted that in Canton, U.S. Steel in Lorain and because what we’ve experienced is own doctors that Kaiser says provide markets “to see if a model emerges his companies and others like it will V&M Steel in Youngstown already that employers are looking for ways the greatest value. that would create the right fit for spend $200 billion or more drilling are feeling the positive effects — all to control their health care costs.” To make way for an anticipated customers in our region.” ■ in eastern Ohio and other portions have announced big expansions as of the Utica shale during the next two they try to keep up with drillers’ decades. Mr. McClendon estimated demands for tubular steel. the find is worth $15 billion to $20 Other companies that make valves, billion for his company and its fittings, pumps and other articles shareholders. used in oil and gas drilling also say “In the Utica, we could be talking they are winning new business from about 25,000 wells being drilled,” the drilling and exploration. Mr. McClendon told “Mad Money.” Fueling local jobs So far, other drillers aren’t talking about the oil find — but it’s down Work for Ohio companies likely will there and big companies, such as increase and become more complex Exxon Mobil, are going after it, said as the shale beds are developed, said Terry Fleming, executive director of Tom Stewart, executive vice president the Ohio Petroleum Council in of the Ohio Oil & Gas Association. Columbus. Estimates of the total The work especially will kick in once amount of oil in the shale beds vary drillers need to start moving large greatly, but they are all very big quantities of oil and gas from their numbers, he said. wells to the market, Mr. Stewart said. “The estimates range from 38 “Now you’re talking about building billion barrels to 384 billion,” Mr. pipelines and processing plants,” he Fleming said. “Chesapeake is one of said. many companies that are purchasing The find also could provide cheap leases and buying land in Ohio. … fuel and raw materials for Ohio Just the sheer size of these companies manufacturers for years to come, and the land that’s being purchased Mr. Stewart said. For instance, plas- tells me that they are serious.” tics producers could use many of the hydrocarbons found in the shale ‘Ground zero’ for a boom? beds to make plastic resins and Mr. McClendon said his company could establish plants near this new could not have found oil in a better feedstock. It would be a welcome place. There is abundant water development for area plastic molders available — something Chesapeake and injectors, who long have com- needs for the hydraulic fracturing plained about rising raw material methods it uses to extract oil and prices while no new U.S. produc- gas from shale — and the topography tion was brought online. of the area is easier to work with Chesapeake Energy’s latest than what is found in Pennsylvania announcement might be its biggest or West Virginia. yet in terms of its impact on Ohio’s And, he said, there is a large and economy. The company is not willing local work force that his going to say anything further for company intends to draw upon. now, Ms. Bland said. But in tran- “We’re in a part of Ohio which, scripts of analyst conferences, the frankly, is ground zero for what company seems to increase what it used to be known as the manufac- says is the potential for oil and gas turing belt of America and unfortu- drilling in the region’s shale beds. nately in the last 30 years has been The company is confident about the Rust Belt,” Mr. McClendon told the oil, it told analysts, because analysts on July 29. “But we think Chesapeake has drilled 15 wells in that our activity can help rejuvenate Ohio and has pulled up 3,200 feet of this area and we’re actually quite core to study — all of it proving that the pleased with the quality of the work oil is there, Mr. McClendon has said. force, the size of the work force and It also has been spending consid- we think, of course, there’s great erable time and money making sure transportation alternatives here, it’s the company that will bring that and we’re pretty close to the Ohio oil to the surface. Chesapeake reports River. So if we need to barge out that during the last 18 months, it some oil, we can do that.” has spent between $1.5 billion and Chesapeake director of corporate $2 billion to secure leases and development Keith Fuller told drilling rights on 1.25 million acres Crain’s via email that the company in eastern Ohio. ■ 20110815-NEWS--8-NAT-CCI-CL_-- 8/11/2011 4:35 PM Page 1

8 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011

PUBLISHER/EDITORIAL DIRECTOR: Brian D.Tucker ([email protected]) EDITOR: Mark Dodosh ([email protected]) MANAGING EDITOR: Scott Suttell ([email protected]) OPINION Deal with it lame the messenger. That’s the age-old game Treasury Secre- tary Timothy Geithner engaged in when he accused Standard & Poor’s of showing B“really terrible judgment” in downgrading the credit rating of the U.S. government to AA+ from its hallowed AAA status. However, anyone who has read S&P’s reasons for its Aug. 5 action quickly will realize the terrible judgment rests with elected offi- cials in Washington because of their ongoing failure FROM THE PUBLISHER to put the government’s finances on stable, sustain- able footing for the long haul. Keep in mind that S&P’s action didn’t come out of Ruling offers test of White Hat style nowhere. S&P fired a warning shot April 18 that the credit rating might be subject to a downgrade if t will be fascinating to watch the for those who are governing the schools. the budget bill, and now this ruling by Congress and the Obama administration didn’t legal fight that most likely will ensue Mr. Brennan long has argued that his Judge Bender has added fuel to the fire. devise a plan to bring the government’s runaway after last week’s salvo by a Franklin company does a great service and is But much like some forest fires work to debt under control. County judge against David Brennan’s changing the lives of students who had replenish the land, so to can this case. IWhite Hat Management Co., the Akron- been struggling. His critics, however, Charter schools, when run properly, It took until the first days of August, with the prospect of the United States defaulting on its debt based, for-profit operator of 30 charter complain that Mr. Brennan’s political can achieve marvelous things. The unless its debt ceiling was raised, for a contentious schools across Ohio. influence has led to changing the rules to successful models such as Cleveland’s Congress to patch together an agreement to reduce Common Pleas Judge John Bender benefit White Hat. Breakthrough Schools are forcing civic ruled that Mr. Brennan, histori- One of the most audacious leaders — even folks such as Mayor spending by at least $2.1 trillion over the next 10 cally a big Republican Party BRIAN examples came during the recent Frank Jackson — to rethink how schools years. But S&P was unimpressed, and it downgraded donor, must release a detailed TUCKER budget fight, when amend- should be run. Teacher unions, long a the government’s credit rating just a few days later. accounting of how White Hat ments sought by White Hat that powerful force in Ohio politics, are being Mr. Geithner would complain in an Aug. 7 interview spends the millions in tax would enable for-profit opera- forced to face the possibility of reforms that S&P showed “a stunning lack of knowledge about dollars it receives. Judge Bender tors to run their schools without in a system that for too many years has basic U.S. fiscal budget math” and that the company wrote that Ohio law “clearly and supervision somehow made it protected mediocre performance. “drew exactly the wrong conclusion from this budget unambiguously requires opera- into the massive budget bill. Polls show that most Americans are agreement.” But we think quite the opposite. tors of community schools to House Speaker Bill Batchelder, very worried about education. We all One correct conclusion is that Washington provide their governing author- long a respected voice in know it’s the only way for America to Columbus, actually said at one regain global prominence, but we lack continually puts off until tomorrow issues it should ities with a detailed accounting of how public funds are spent.” point that he didn’t know how the will to institute systems that have led have dealt with yesterday. Exhibit A is the budget Not surprisingly, White Hat argues such amendments made it into the to other nations blowing by us in literacy agreement itself, which is short on details of how that as a private company, such informa- budget bill. It couldn’t have been anything and academic achievement. We must the savings will be achieved. Rather, it calls for the tion should be confidential. Several schools to do with the millions that Mr. Brennan consider every possible idea, even for- formation of a 12-member Joint Select Committee in Akron and Cleveland are suing to has contributed or raised over the past profit school operators, if they operate on Deficit Reduction to come up with proposals for terminate their management agreements couple of decades. with a transparency that shows they are at least $1.2 trillion in spending cuts. As S&P notes in with White Hat, complaining that the Anyway, the outrage prompted law- responsible in the ways they’re spending its downgrade announcement, that committee won’t company runs the schools with disregard makers to strip the amendments from public dollars. ■ present its savings package until late November, and even then, “Congress and the Administration could modify any agreement in the future.” PERSONAL VIEW The other correct conclusion is of broader, longer-term consequence. It is the view expressed by S&P that “the effectiveness, stability, and pre- Jobs solution should be Congress’ focus dictability of American policymaking and political institutions have weakened at a time of ongoing By SHERROD BROWN Mr. Brown is the senior U.S. senator from 11%. Ohio has lost hundreds of thousands fiscal and economic challenges to a degree more Ohio. of manufacturing jobs in the last decade. than we envisioned” when it warned just four fter a long and contentious Why does this matter? First, manufac- months ago of a possible credit downgrading. debate, Congress recently passed the top concern for most Americans: job turing jobs pay 20% more on average S&P bemoans the “political brinksmanship”(sic) it last-minute compromise legis- creation. than service jobs and have strong multi- lation to avoid default and Ultimately, the debate about the budget plier effects, supporting jobs in other has seen in recent months, with the implicit fear being reduceA the deficit. While not perfect, this deficit should be a debate about job sectors of our economy. Wealth begins that the uncertainty spawned by this approach to bipartisan agreement avoids default, creation. There are millions of Americans when you make it, when you mine it or governing won’t end any time soon. The stock markets reduces the deficit by $2.7 trillion, rejects who would rather be working or paying when you grow it. have been affirming this lack of confidence in our attempts to dismantle Medicare, and taxes than collecting unemployment It is hard to see how we have a strong elected officials with a decline that began not after the beats back efforts to undermine Social insurance, Medicaid, or foreclosure assis- economy without a vibrant manufacturing S&P announcement, but in the fourth week of July. Security and other lifelines for middle- tance from the federal government. base. Since the beginning of the reces- Rather than wag a finger at S&P, Mr. Geithner, his class Ohioans. But we will never solve our larger budget sion, we’ve seen profits at large financial boss and Congress should get the message and use Members of Congress — myself problem if we don’t solve the jobs prob- institutions and other service firms the rating downgrade as their excuse to get serious included — have returned to their home lem. And if we want to spur a sustained increase, while our nation’s unemploy- in dealing with the U.S. debt burden. The alternative states and districts to meet with con- economic recovery in Ohio and across ment rate hovers around 9%. stituents, visit small businesses, tour the country, bolstering our manufacturing Unlike wealth created by complex is to risk another reduction in the credit rating within factories, and attend roundtables with sector is critical. financial products, wealth created by two years — a prospect S&P raised as a possibility in senior citizens and retirees. But when the Over the past three decades, financial expanded manufacturing production its Aug. 5 announcement. That’s a road no one House and Senate are called back into services jumped from about 11% of our requires a bigger work force, greater should want to go down. session in September, there is no doubt GDP to about 21.5%. Meanwhile, manu- supplier networks, and an entire web of that we must turn our attention back to facturing has gone from 25% of GDP to See VIEW Page 9 20110815-NEWS--9-NAT-CCI-CL_-- 8/11/2011 2:04 PM Page 1

AUGUST 15 - 21, 2011 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 9

THE BIG ISSUE Do you think the economy is heading for a second recession?

BETH LEVY BRUCE BROWN VALERIE BUCKLES JIM LEVINE Cleveland Solon Cleveland Chagrin Falls Yes, I do. The economy No. I have full faith and No. I live (downtown) and I I hope not. … I would say has not really recovered confidence in our presi- see things growing, so it’s the prospects for a from the initial (recession). dent and our legislators very encouraging. second recession seem- … I don’t know if I’d call it that they will not allow that ingly are good. I’m hoping a second one or a continu- to happen again. Cleveland would be ation of the first. I’m still insulated from that from all waiting for the economy to the new projects that are bounce back. going on (downtown). LAND AVAILABLE FOR DEVELOPEMENT ➤➤ Watch more people weigh in by visiting the Multimedia section at www.CrainsCleveland.com. 2096 LANDER ROAD, MAYFIELD HTS., OHIO NE Ohio UAW’s ‘us vs. them’ outdated ■ In the Aug. 4 edition of The Wall deal with unions that form their that said goodbye to manufacturing Street Journal, I read an interesting position in the same confrontational in Northeast Ohio. The militant UAW article on current UAW president manner as the UAW of yesteryear: locals really have a lot to be proud of; Bob King, who now touts the end of “us versus them.” essentially, they destroyed Cleveland the era where it was “us versus them.” Northeast Ohio’s UAW contributed as an auto parts and truck manufac- Maybe Mr. King should contact his mightily to the closure of the following turing center. Congratulations! UAW affiliates here in Northeast plants — because, to the UAW locals, Now, the remnants of that same Ohio and advise them that the state it was a matter of “us versus them” UAW seek to hobble a governor and of Ohio mandates a balanced budget and “by damn” they said, “We’ll let Legislature that have shown the guts — and it is the responsibility of the our plant close before we give in.” to stand up to the state government ‡ $&5(6 governor and the Legislature to ensure Just in my lifetime I can recall the unions in the name of fiscal sanity. ‡ 87,/,7,(6$76,7( that the state does not run in the red. following closures in these local Will the UAW ever learn, or will it ‡ =21('2)),&( To the Ohio UAW, I translate Mr. UAW auto/truck/forklift plants: continue to tear apart the fabric of King’s message into this suggestion: Chevrolet Brook Park; Ford Walton our society so as to perpetuate its ‡5HGXFHG3ULFH “Use your brains rather than the Hills; Chrysler Twinsburg; General own selfish agenda? 0,&+$(/2&&+,21(52_ old-fashioned confrontational prac- Motors Euclid; Terex (Euclid and PLFKDHORFFKLRQHUR#RPFOHFRP Thomas Slavin tices that destroyed the auto indus- Cleveland); The White Motor Co.; 0DLQ_ZZZRPFOHFRP try in NE Ohio — back off in your Towmotor; most of the Ford engine Gates Mills support of those that want to over- and foundry complex in Brook Park; turn the recently enacted measures the Lorain Ford complex; Collinwood’s that will accomplish the ‘balanced Eaton plant; the Avon Lake truck budget’ mandate.” The state of trailer facility. Ohio cannot and should not have to My listing is of just the “biggies”

View: Manufacturing sector key

continued from PAGE 8 Ph.D.s and workers with high school upstream and downstream workers. diplomas who have mastered a craft Second, a strong industrial base is over thirty years of labor. critical to creating economic pros- Manufacturing expertise is found perity and maintaining American in our universities and business global leadership. incubators, strengthened through The decline of manufacturing has our partnerships at the local, state and corresponded with stagnant wages federal level. It’s found at NASA Glenn, and an increasing reliance on credit Kent State, Case Western Reserve, as families have struggled to get by. Cleveland State and all across Ohio. The past three decades have been But we need to build on that tough for middle- and low-income foundation to ensure that we create earners trying to secure a better life American jobs and rebuild America’s for their families. middle class. Two ways we can do that So it’s no surprise that many is through our tax and trade policies. Ohioans — like many Americans — We need tax policies that create a believe that the economy no longer favorable business climate to foster works for them. private-sector growth and create The big question asked by Ohioans jobs at home. These tax credits need is how will we rebalance our economy, to be permanent and predictable — replace the hundreds of thousands for investors and companies. of Ohio jobs that have been lost, We also need trade policies that and rebuild our middle class? The can help rebuild American manu- answer, again, lies in manufacturing. facturing. Trade law enforcement Our capacity to out-compete and has meant more steel jobs in Lorain out-innovate other countries — to and Youngstown, more tire jobs in create good-paying American jobs Findlay, and more paper jobs in — depends on our capacity to out- Hamilton. Ohio businesses can manufacture and out-innovate them. compete with any in the world, as And in Ohio, we know how to long as there’s a level playing field. make things. We cannot forget the tremendous Manufacturing means sophisti- responsibility ahead of us. That cated engineering and innovation means getting back to work on job found on the factory line. It means creation, with manufacturing at its opportunities for engineers with core. ■ 20110815-NEWS--10-NAT-CCI-CL_-- 8/11/2011 3:05 PM Page 1

10 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011 Known for Pension plan adviser: Shift dome, ASM to save capital HQ interior By PENSIONS & INVESTMENTS Pension funds should be prepared for long-term weakness, even if in the gets redo short term they take very defensive positions in portfolios and focus on protection of capital, instead of returns. Upgrades achieve “What pension funds should be concerned with is we are in a different goals, early signs show (and) a weak market and economic regime that could last many years,” By DAN SHINGLER said Andrea Malagoli, director at [email protected] Buck Consultants. Ms. Malagoli said Standard and It’s not often that a local architec- Poor’s decision to downgrade the tural firm, as well as its client, gets to federal government’s credit rating “is restore the work of not one, but two one manifestation of the unraveling of noteworthy architects — but that’s excesses. … Way too much leverage what happened this year when ASM in the system in both the private and International refurbished its head- PHOTO PROVIDED public sector. All the monetary and quarters. The headquarters of ASM International, a materials science nonprofit based in Novelty, recently underwent a $6 million fiscal policies have mainly shifted “It was a one-of-a-kind experience,” interior upgrade. The goal was to restore some of the simplicity of the original building, constructed in 1959. the problems, not eliminated them. said Scott Dimit, managing principal “Pension funds need … to have of Dimit Architects in Lakewood, Theobald, who has worked in the carry hot water and heat — some- But in July the building’s electric courage to abandon some commonly who along with his wife and interior building since 1978 with the excep- thing Mr. Theobald said contractors bill was $8,500 — a decrease of established investment policies and designer, Analia Nanni Dimit, worked tion of a six-year absence in the 1990s. were not expecting, nor happy with more than 60% from bills it had look at policies that are far more on the project for ASM, a nonprofit “Our goal was to take the building when they hit them with their seen in past summer months, when discretionary and dynamic and involved in materials science. back to its original intent,” Mr. grinders. ASM paid more than $22,000 for a more responsive to current market The most famous piece of archi- Theobald said. And some things couldn’t be done. month’s worth of juice. New air events,” Mr. Malagoli said. “In this tecture at the site in Novelty is the Among the tasks in the total reno- For example, the building does not conditioning units, better ventila- market, dynamic asset allocation is huge geodesic dome that spans the vation were refinishing the building’s have modern double- or triple-pane tion, modern window shades and key. ... They need to make allocation entire building and its garden, which cast concrete floors, stripping wall- glass windows, and because of its zoned thermostats brought about decisions a lot faster.” was based on a patented design by paper from copper wall panels that historic landmark status none the savings, he said. For corporate plans, uncertainty famed architect Buckminster Fuller. had fallen out of favor in the 1970s, could be installed if ASM was to Perhaps no one would be happier over the downgrade isn’t likely to But the dome was not part of the installing new air conditioning and secure $2 million in federal and to see the building brought back to trigger allocation changes, said 14-month renovation completed in other mechanicals. state tax credits for the project. its original glory than the late Mr. Ethan Kra, senior partner and chief July. What needed work was ASM’s It even involved redoing the But those obstacles were overcome Kelly. Mr. Theobald said the archi- actuary with Mercer. building, a semicircular modern building’s green roof, which was and the project not only was finished tect last saw the structure in the “Most companies don’t sell on a edifice with 50,000 square feet of designed to be covered with grass on time, but also was within its $6 1980s, when ASM asked him what panic,” Mr. Kra said. “They tend to office space. long before the modern concept of million budget, Mr. Theobald said. he thought of plans to alter its foot- take a deliberate approach and try to The building, designed by noted “green buildings” caught fire with And the project surpassed some print with a less conservation- follow a logical process.” local architect John Terence Kelly, the general public. of its goals, such as reducing the minded design. Mr. Kra said the bigger issue will was built in 1959 at a cost of $2.4 There were challenges. For example, cost to cool the building by 30%. “He just looked at me and said, come up in 2012, which is the end of million. It had strayed from its original the concrete floors had metal in Since better windows could not be ‘Don’t mess with my structure,’ and the seven years afforded under the beauty and simplicity over the decades, them to make them stronger and used, Mr. Theobald said he was he was out of here in 30 seconds,” Pension Protection Act for reaching said ASM managing director Stanley also had copper tubing in them to worried about reaching that goal. Mr. Theobald recalls. ■ 100% funding. ■

company and often leaving them It’s also Ms. Stumpp’s job to inform with less autonomy than they had employees about the program and Invacare: Effort produces efficiencies before, Mr. Blouch said. get them energized about working Because of the new corporate toward global goals as opposed to continued from PAGE 1 to come from savings and how The One Invacare initiative led structure, executives now often can’t regional ones. To that end, she has of different products that weren’t much is expected to come from new the company to close a factory in make important decisions “without organized online discussions, created all that different. revenue, according to Lara Mahoney, Denmark and move the work to collaborating with someone else.” a newsletter related to the One That’s why Invacare decided to director of investor relations and Sweden, and more consolidation may Such restrictions may sound bad, Invacare initiative and implemented overhaul the way it develops prod- corporate communications. occur where it makes sense, Ms. Mr. Blouch noted, but they should CultureWizard, an online tool ucts. Invacare plans to use some of Mahoney said. The effort also drove help Invacare’s product develop- designed to help employees learn The Elyria-based company for that money to double to $50 million Invacare to move a few of its prod- ment efforts stay focused and lean. how to work with people from nearly a year has been working to the amount it spends on research uct development centers, and some “Think of the power that brings to other cultures. synchronize its product develop- and development each year, said Mr. employees chose not to relocate. the supply chain,” he said. “I’m still the one beating the ment teams and whittle down a Blouch, who in January replaced A. Invacare may cut some positions Ms. Stumpp, head of human drum,” she said. massive list of products to a shorter Malachi Mixon III as Invacare’s CEO. that are redundant, Mr. Blouch said. resources, is overseeing the pro- Centralizing product develop- lineup that it will sell worldwide. Mr. Mixon, who suffered a stroke in Staff reductions, however, should gram’s implementation. A year ago ment should help the company op- The five-year effort should help April 2010, remains chairman of the not account for “a big portion” of she led an effort to fill four head- erate more efficiently, said Elliott Invacare design better products board. the projected $100 million in added quarters positions meant to help Schlang, managing director of Great faster and leave engineers with Work that Invacare already is profit, most of which will come from the company design, make and sell Lakes Review, an institutional re- more time to innovate, according to doing at its plant on Taylor Street in many small improvements, he said. a global product lineup. search boutique in Shaker Heights. Mr. Blouch and senior vice presi- Elyria provides one example of the “It’s a lot of singles and doubles,” The company hired Doug Newlin Mr. Schlang said he doesn’t dent of human resources Patricia efficiencies the company aims to he said. — who previously was head of doubt that the program will hit Stumpp, who is helping lead the achieve. The custom wheelchairs the The previous system had remained research and development for its goal of adding $100 million to One Invacare initiative. plant makes traditionally have been in place because Invacare’s strategy blood transfusion technology firm Invacare’s bottom line by 2015. Producing more of the same sold to U.S. customers. Last year, for decades was to buy companies Fenwal Inc. of Lake Zurich, Ill. — as “In the past when they’ve made products also should save the com- however, the plant started producing that already made products designed senior vice president of global engi- goals, they’ve generally been able to pany money on manufacturing and a new power wheelchair, the base of to meet the regulations of and receive neering. It also hired John Remmers reach them,” Mr. Schlang said. marketing, Ms. Stumpp said. which Invacare is incorporating into reimbursements from government — who previously had responsibility Joshua Zable said the same thing. Until now, she said, “If we sold beds a similar model it sells in Europe. health care programs in the coun- for global manufacturing, purchasing Mr. Zable — a senior analyst who in three places, we also designed beds Mr. Blouch gave another example: tries they served, Mr. Blouch said. and product development at TTI covers medical device, diagnostics in three places, made beds in three The company previously had five Now Invacare simply will modify Floor Care North America of Glen- and equipment companies for WJB places.” product development teams designing products to meet the needs of local willow — as senior vice president of Capital Group in New York — power wheelchairs for different markets. ‘A lot of singles and doubles’ global supply chain and operations. added that connecting Invacare’s regions of the world. Now it is tran- “A lot of the complexity had Two existing Invacare executives, engineering teams across the globe The One Invacare initiative should sitioning to one team with subdivi- nothing to do with patient needs,” he Carl Will and Lou Slangen, were will help them share ideas. help the maker of medical equip- sions focused on different types of said. “It had to do with regulations.” promoted to senior vice president Though Mr. Zable likes the plan, ment and supplies realize $100 power wheelchairs. For instance, Power shift of global commercial operations implementing it, he said, will be million in added profit by 2015. The one division focuses on rear-wheel- and senior vice president of corporate Invacare’s biggest challenge. company has not broken out how drive chairs, while another will deal The transition is changing the marketing/chief product officer, “The No. 1 issue is really execut- much of the $100 million is expected with front-wheel-drive models. roles of executives throughout the respectively. ing,” Mr. Zable said. ■ 20110815-NEWS--11-NAT-CCI-CL_-- 8/11/2011 3:05 PM Page 1

AUGUST 15 - 21, 2011 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 11 Exit planning advisers join forces TravelCenters sees value

going to change hands in the next 10 to Local professionals establish nonprofit arm 15 years, so all the advisers whether in buying Westlake site wealth managers, financial planners, to cope with coming wave of retiring boomers CPAs — want to be exposed and get involved in exit planning,” Mr. Company plans to retain current outside tenants By MICHELLE PARK “One out of two compa- Christman said. [email protected] In May, Mr. Snider hosted an exit By STAN BULLARD held it since June 30, 2009, Mr. nies is going to change planning awareness event, which [email protected] Rebholz said. With the aim of becoming a hands in the next 10 to about 85 people attended. It was there Vicki Maeder, a vice president in resource for small and midsize busi- 15 years.” that the seed for the local chapter TravelCenters of America LLC the Cleveland office of CB Richard ness owners, a group of 44 North- likes the building that houses its Ellis, described TravelCenters as – Peter Christman, co-founder, was planted. east Ohio professionals is forming Exit Planning Institute On the agenda for the local group headquarters operations in Westlake “the natural buyer” of the property the nation’s first local chapter of the are educational events for business so much that it bought the property because of its long tenancy there. Exit Planning Institute. owners and advisers. The group also for $5 million. Ms. Maeder was part of a three- The institute is a Chicago-area nesses over the next 10 to 15 years, wants to conduct with partnering The structure, known as the Point person CB team that represented nonprofit with a mission of assisting creating $10 trillion in potential institutions research on exit planning, 5 building, is at 24601 Center Ridge the lender in the transaction. Cresco business owners in planning how wealth transfer. Mr. Snider said. Road. Andy Rebholz, TravelCenters represented TravelCenters in the they’ll exit their companies. The The local chapter aims to be an For example, he’d like to survey chief financial officer, said the com- transaction. institute’s Greater Cleveland-Akron educational resource for business private equity firms to see what their pany wanted to control its environ- TravelCenters paid with cash. chapter is to incorporate in 30 days, owners and a networking channel experience has been as it relates to ment and believes the building will “We had the cash available and according to Christopher Snider, who for advisers, Mr. Snider said. Plus, companies that have had exit plans be a good investment compared with preferred to put it into the building has led the effort to form the group. he’d like the group to develop best in place. Did the firms pay more for continuing to rent the structure. Its rather than have debt for it,” Mr. Mr. Snider said the chapter will practices that can be shared. such businesses? Did they find that lease was slated to expire next year. Rebholz said. “We didn’t get the deal foster collaboration among attorneys, “I just think as advisers, if we’re those businesses were better because Mr. Rebholz said the company they got next door, but this building wealth managers, accountants and working together on a common they had a plan? searched for other properties before has us as a tenant.” others who will assist what many mission, something good is going to Harold Maxfield Jr., a shareholder deciding that “where we are is the McKnight Property Management believe to be a coming tsunami of baby come out of it,” Mr. Snider said. and board member with Cleveland best place for us.” of Pittsburgh in late 2009 bought the boomers leaving their businesses. “I told the EPI, we’ll build a model law firm Cavitch Familo & Durkin, is TA, as TravelCenters does business, adjoining Point 6 building from the “I know myself that when owners here in Cleveland, and we can take setting up the legal structure of the has about 350 employees in the same lender for just $2 million. come to me, they’re not prepared,” it across the country and let the other chapter. He said he joined for the building and occupies more than Even so, Cuyahoga County values said Mr. Snider, founder and presi- (certified exit planning advisers) use opportunity to network and to share 75% of the 98,000-square-foot struc- the Point 5 building at $6.4 million; dent of Aspire Management Inc., a it,” he said. ideas and clients. ture constructed in 1987. The oper- it had been valued at as much as $8.4 firm in Brunswick that provides exit Peter Christman, who co-authored Mr. Maxfield said many of the ator of highway travel centers will million in 2002, county records show. planning, value enhancement and “The $10 Trillion Opportunity” and people he represents possess most expand in empty offices in the TravelCenters operates 165 diesel investment banking services. “I’d co-founded the Exit Planning Insti- of their wealth in the business, building, Mr. Rebholz said, but it and gas refueling stations, truck repair say none of them were prepared tute in 2005, calls the Greater Cleve- which makes exit planning all the plans to retain outside tenants who centers, restaurants and associated when they came to me.” land-Akron chapter the “prototype.” more important. However, those rent portions of the structure. stores and employs nearly 12,000 Mr. Snider cited a book titled The plan is to establish local groups owners are involved in running the The seller of the five-story prop- people. Of its 165 locations, 145 are “The $10 Trillion Opportunity,” in other cities, including Miami, business daily. erty was lender Investors Warranty owned by Hospitality Properties Trust which asserts that about 7 million Dallas, Atlanta and Detroit, he said. “It’s difficult for them to focus on Association of America, a unit of of Newton, Mass., and are leased to business owners will exit their busi- “One out of two companies is the next step,” he said. ■ Dutch lender Aegon NV, which had TravelCenters. ■ The largest pediatric health care provider in NE Ohio.

AKRONCHILDRENS.ORG 20110815-NEWS--12-NAT-CCI-CL_-- 8/11/2011 2:03 PM Page 1

12 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011

Bergdorf and retirement plan con- BRIGHT SPOTS sultant Christabelle Cook. GOING PLACES Trinity partner Anthony Warren It’s not all bad out there. Here’s the are increasingly finding that our said the company plans to “continue JOB CHANGES latest installment of a weekly feature solution resonates highly with com- to grow our business throughout on CrainsCleveland.com that highlights panies that have strong service Ohio and even regionally. Opening ENGINEERING positive developments in the North- philosophies, so it is no coincidence the Columbus office has shown that BARBER & HOFFMAN INC.: Brad east Ohio business community. that we are now working with John we can still keep the local, personal- Boomer to associate; Jon T. Lewis, one of the UK’s most forward- ized relationships we pride ourselves Leuthaeuser to senior associate. ■ TOA Technologies of Beach- thinking brands when it comes to on while having more than one loca- wood, a producer of scheduling and customer service.” tion.” FINANCE routing software for mobile work Glover Davis Laci forces, has landed British ■ Kevin Bergdorf, a founding ■ Troubadour Coffee Co. of Cleve- CHARTER ONE: Michelle Bosak to retailer John Lewis as a partner of Trinity Pension Consul- land said it has added an espresso business development officer, Your- client and will support tants of Copley, said he has moved catering division. Place Banking; Jeff M. Hall to vice a new appointment to the company’s newly established The company will set up an espresso president, private wealth manager. booking system across Columbus office. Trinity is a third- bar at most events and serve lattes, FIFTH THIRD BANK, NORTHEASTERN all John Lewis depart- party administration firm specializing cappuccinos, espressos and other OHIO: Emmanuel Glover to senior ment stores. in retirement administration and espresso-based beverages to guests. vice president, director of community The new system is actuarial services. “A lot of people having parties, development. scheduled to be in John “As this is Trinity’s first expansion weddings and other events want Hahn Kimbell Cika Lewis stores by this effort, we felt it was important that something different to add to the FINANCIAL SERVICE November. It will provide a partner should go out on the mix of other offerings for their John Lewis with a unified way frontier,” Mr. Bergdorf guests,” said Troubadour CORNERSTONE CONSULTING of booking and scheduling its said in a statement. Coffee owner Tony DiCorpo GROUP LLC: Michael J. Zeleznik to mobile work force in 28 department “Things in Columbus in a statement. new business developer. stores. have been going very Mr. DiCorpo said customers The appointment booking system well, and we are on can add tea, smoothies, Ital- INSURANCE eventually will be extended to track to meeting the ian sodas, single serve pour- ALEX N. SILL CO.: Thomas Radel support online bookings on the goals we set for our over coffee and Italian cookie to manager, contents appraisal company’s website and appointments first year here. The tray packages to any espresso department; Chris Jensen to building Recker Oliver Vesely arranged through John Lewis’ idea is to make sure service level package. consultant; Larry Gabbard to regional smaller-format “at home” shops. Trinity is secure in this Troubadour started in 2010 manager. “We are pleased to be supporting market, and use it as a “to bring a better artisan- John Lewis in the UK and to intro- launch pad for future roasted coffee to market,” Mr. LEGAL duce these innovations,” Mike growth.” DiCorpo said. He said Trouba- Halley, vice president of TOA Tech- The new office is dour roasts in small batches to ULMER & BERNE LLP: Joshua A. nologies, said in a statement. “We managed by Mr. ensure an even roast. Klarfeld to associate. WALTER & HAVERFIELD LLP: Kate V. Davis to associate. Koha White Yoder MANUFACTURING CLEVELAND PLASTIC FABRICATORS & SUPPLIERS INC.: Kasey A. TECHNOLOGY Krebs to outside sales. MCPC INC.: Todd Pigram to FABER-CASTELL USA: Danielle virtualization engineer; Gregg Belsito Laci to buyer; Meredith Hahn to to customer care supervisor; Sarah product developer. Abella to solution developer; Damian SIFCO INDUSTRIES INC.: Reed Miller to technical recruiter; John Kimbell to production manager, Murtaugh to IT project manager; Applied Surface Concepts. Reid Ditzler to delivery engineer. PARAGON CONSULTING: Larry MARKETING Yoder to engagement manager. PECCHIA COMMUNICATIONS LLC: Aundrea Cika to public relations BOARDS strategist. CLEVELAND METROPOLITAN BAR NONPROFIT FOUNDATION: Raymond M. Malone (Baker & Hostetler LLP) to GREATER CLEVELAND PARTNER- president; Lynn A. Lazzaro to vice SHIP: Robert Recker to senior vice president; Sherri L. Dahl to vice president, marketing, communications president of development; Ginger F. and membership development. Mlakar to treasurer. HATTIE LARLHAM: Lori Oliver to ENGINEERS FOUNDATION OF vice president, center and group OHIO: Russ Critelli (Mannik & Smith home services. Group Inc.) to president. NEIGHBORHOOD PROGRESS INC.: LAKEWOOD CHAMBER OF Sheri Dozier to senior program COMMERCE: Diane Helbig (Seize officer; Jennifer Porter Grasso to This Day Coaching) to chairperson; grants and communications manager. Steven R. Clark to treasurer; PATHWAYS INC.: Susan Vesely to Lucinda Einhouse, Nicole Hatem clinical director. Farley and Dan Carney to vice chairs. ST. AUGUSTINE HEALTH MIN- NEIGHBORHOOD PROGRESS INC.: ISTRIES: Andrew Koha to president, Mark Nasca (JDI Realty Inc.) to CEO. chairman; Paul Clark to vice chairman, treasurer; Colleen Gilson to secre- REAL ESTATE tary. CB RICHARD ELLIS: Jason Effner ST. AUGUSTINE HEALTH MIN- to associate project manager. ISTRIES: Edward Hack (Egert & Hack) to chairperson; Karen McCarthy KING GROUP: Julie White to vice to vice chairperson; Linda Sheehan president, leasing. to secretary; William Beargie to TRANSACTION REALTY: Matthew tresurer. Wheeler and Wayne Wheeler to sales associates. AWARDS SERVICE SOCIETY OF FINANCIAL SERVICE RADCOM INC.: Kevin Halaburda to PROFESSIONALS OF CLEVELAND: senior project writer; Jo Ellen Frost N. Lindsey Smith (Smith and to project writer; Suzi Hrubik to Condeni LLP) received the 2011 associate writer; Christy Esau to Financial Service Professional of the writing assistant. Year Award. WAVERLY PARTNERS LLC: Matt Clemens to managing director and Send information for Going Places to principal. [email protected]. 20110815-NEWS--13-NAT-CCI-CL_-- 8/11/2011 2:10 PM Page 1

AUGUST 15 - 21, 2011 CRAIN’S CLEVELAND BUSINESS 13

INSIDE 15 SOME CLEVELAND-AREA COMPANIES ARE OUT TO PROVE THAT IT’S POSSIBLE TO EAT RIGHT AT WORK. HEALTHAND WELLNESS Programs’ effectiveness now easier to measure ROI tracking methods become more prevalent

By JAY MILLER [email protected]

t’s taken the better part of 25 years, from the earliest employee fitness centers, but businesses and insurance companies have Istarted to embrace wellness pro- grams as investments with returns, says Shanna Dunbar, an occupa- tional health nurse. The reason, explained Diane Shields, vice president for human resources for Elyria-based Bendix Commercial Vehicle Systems LLC, is simple: “We’re starting to get better results.” It doesn’t require a degree in JANET CENTURY PHOTOS occupational health or medicine to Diana Strongosky, a vice president of research and development in Sherwin-Williams’ paint coatings division, said she exercises every day at lunch. With small understand that some lifestyle children at home, Ms. Strongosky said exercising at that time is a good way for her to stay fit. choices incur higher medical costs than others. However, measuring the return on investment for programs that encourage better health decisions has not been easy to achieve. HERE AND HEALTHY Ms. Dunbar, who has a Strongsville- based private practice, Workplace Health Inc., said a reduction in a Employers adopting exercise into culture in hopes of more productive workers company’s health care costs is “the be-all, end-all, but it can take five to By DAN SHINGLER Let’s get physical 10 years to see it, so that’s not a [email protected] good thing to look at and measure Sherwin-Williams’ downtown year after year.” fitness center rivals what its oosball and pingpong Over the last few years, however, employees could access if they tables might be popular better methods have been developed joined a nice health club. More among the high-tech to gather data for employers in than 50 modern exercise development crowd, but such a way that protects employee machines dominate the center’s Fsome organizations around privacy while still satisfying the 10,000 square feet of space — Northeast Ohio want to give bean counter. where members can either work their employees a better workout “Employers have been indicating out on their own or sign up for than that. they’ve been interested in these classes in yoga, kickboxing, Their goal, though, is largely programs for five or six years,” said aerobics or some other group the same. They want to attract Christopher Herbruck, area senior activity. and keep the best and brightest vice president for the Cleveland Permanent lockers are avail- employees and keep them office of Gallagher Benefit Services. able to gym members — who healthy and productive once “Six years ago you had some pay $300 a year to use the facility they’re aboard. employers who said, ‘Yeah, this — but they must keep coming regu- Of course, the Northeast Sherwin-Williams’ fitness center members can work out on their own or sign up makes sense, let’s get started.’ But larly to keep their storage space, as climate almost requires that com- for classes in yoga, kickboxing, aerobics or other group activities. some said, ‘This is malarkey, you there always is a waiting list, said panies here provide a few more can’t measure return on investment; Sherwin-Williams’ senior fitness ways to stretch and work muscles You might expect an outfit that Usually, between 175 and 200 we’re not going to do anything.’ specialist, Vicki Barone. indoors than is needed in sunny employs astronauts to see the value people use the Cleveland-area “But now those metrics have Like NASA, Sherwin-Williams Silicon Valley, but the results of in having their employees stay in fitness center each day, she said. been established; and that’s believes the center keeps its giving employees a chance to move shape. And you would be correct. But companies with lawyers, changed attitudes. Now, they’re employees healthier and more around is the same, they say. Not only does NASA maintain an product developers, accountants, saying, ‘Hmm, this makes sense,’” productive than they would be “We believe that people who indoor fitness center, ball fields marketing professionals and other he said. otherwise. exercise and work out are more and running track at its facility more run-of-the-mill workers At Bendix, which started its Having employees pay something productive,” said Renee Barrett, near Cleveland Hopkins Interna- share NASA’s belief that both an wellness program more than a to use the facility — about $15 per who for 12 years has served as the tional Airport, but every major organization and its employees decade ago, the results are dramatic. paycheck — results in employees fitness director for the NASA Glenn NASA center has some sort of benefit when exercise is readily “Directionally, we’ve seen a 10% Research Center in Brook Park. exercise facility, Ms. Barrett said. available at the workplace. See HEALTHY Page 14 See MEASURE Page 14 20110815-NEWS--14-NAT-CCI-CL_-- 8/11/2011 2:10 PM Page 1

14 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011 HEALTH AND WELLNESS

JOHN DI CHIRO routine part of my workday. WORKOUT Master craftsman On the days that I don’t ex- Measure: Employees GrafTech International ercise at GrafTech, I’ll walk four miles outside near my WARRIORS ohn Di Chiro has house or at the mall.” become more accepting BLONDIE HINTON worked for Parma- He does cardio and Administrative assistant based GrafTech for strength training five to six continued from PAGE 13 build they see a reduction in the use Sherwin-Williams/Remediation Services more than 36 years, days a week, usually at the Jbut recently he’s been end of his workday — tak- (lowering) of cholesterol levels of medical services that can trans- (among employees) since 2008,” late into lower health care costs. londie Hinton has worked breaking a sweat a little more ing advantage of the fitness center’s Ms. Shields said. “Now we’re Varbros LLC, a metal stamper in at Sherwin-Williams for 36 often than in the past. showers before heading home. focusing on hypertension.” Brook Park with 105 employees, years, which is by far most And that’s a good thing, he says, He says he’s happier, sleeps better The Bendix employee wellness uses five of the most common of her life — and for most of because he’s lost more than 30 and feels less stress because of the program, which started with a measurements to benchmark its Bthat time she’s been a member of pounds and has picked up the habit workouts. He does have at least one fitness center, now also includes employee wellness, said George the company’s gym. More than a of exercising regularly. regret, though. weight management, tobacco Drapcho, a floor supervisor and member, she’s been a regular, she “It’s so convenient and of course, “I wish I had started 20 years cessation, stress management and the company’s wellness leader. says. free,” he said. “Working out is a ago,” he said. a variety of early detection efforts, Those five are smoking cessation. In her first 12 including annual physicals. Bendix measurable reductions in blood years at the com- employs 460 people in Elyria and pressure, glucose and cholesterol pany, she was a 1,200 worldwide. levels, and a reduction in body couch potato by NICHOLAS GEORGIADIS his body fat percentage, he Ms. Shields said 60% of Bendix mass index, a relationship between night and a Aerospace engineer said. employees participate in the well- height and weight. sidewalk smoker NASA Glenn Research Center He usually exercises at ness program and that percentage The carrots by day. lunch, he said, and uses continues to grow. Now she has ou don’t have to be one of the stationary bikes On the corporate side, the To lure employees into wellness kicked the habit a rocket scientist for his cardio. “But it’s not company is seeing the fruits of its programs companies offer workers and is a runner of marathons and to figure out that just for the biking — it efforts. “Our average (health care) incentives. Initially, at companies regular user of the company’s exer- watching what you clears my head,” he said. cost per employee is 20% less such as Varbros that have young cise machines — especially the eatY and exercising will Apparently, even if you (because of the program) on a programs, employees may only treadmills. drop your weight and improve your are thinking about complex scien- cost-per-employee basis,” Ms. get gym bags or water bottles. “Me, I use it twice a day,” she health. But if you were a rocket tific stuff, a little exercise can help Shields said. Eventually, however, they are says of the company’s downtown scientist, that’s probably the the thinking process. seeing their share of their medical He has belonged to other gyms, By the numbers fitness center, which she hits at conclusion you would reach — just costs reduced. about 5:30 a.m. and again at noon like NASA’s Nicholas Georgiadis. but with two kids and a very engaging A 2010 survey by Gallagher Mr. Drapcho said nearly 90% of most days. Mr. Georgiadis, an aerospace job, it would be tough to find time Benefit Services — it was then Varbros employees participate in Ms. Hinton says she’s a changed engineer at Cleveland’s NASA to work out outside of office hours, called Herbruck Alder — found that the wellness program. At Bendix, woman as a result of the center — Glenn Research Center, says he’s he said. of 160 companies surveyed, 30% employees who make headway in thin, fit and confident . been a member of the fitness center “If you took this place away, had comprehensive wellness pro- the wellness program see their She said she doesn’t know if she for all of the 21 years he has worked certainly a lot of the people who grams, up from 23% a year earlier. out-of-pocket cost for their health would have done it, had her com- at the facility, but stepped up his come here would exercise less,” he In addition, 25% were developing care benefits discounted. pany not encouraged and enabled usage early this year when he said. programs and another 49% said In another example, United- her to work out. entered a team weight-loss compe- And that would lead to a rocket they intended to start a wellness Healthcare, a leading health insur- After all, she didn’t before, she tition at NASA. He lost about 30 scientist’s worst fear — larger and program in the near future. ance company, offers a program points out. pounds and dramatically reduced larger payloads to get into space. The programs are gaining called Vital Measures that has the acceptance because employees effect of pushing wellness. and employers are seeing the value If employees select a high- and making concessions. deductible medical plan, they can Employees are accepting the choose to take a wellness screening Healthy: idea of allowing an outside third to see if they meet the specific Companies see lower care costs party to gather medical information targets for body mass index, continued from PAGE 13 in terms of “soft benefits” the com- cheap, but companies say the and report that information in cholesterol and blood pressure. pany could provide. return on investment makes it aggregate to their employers in It also takes note of whether the being more serious and sticking to “Probably 80% of the responses worth the money. A typical facility exchange for incentives and even employee smokes. their exercise plans, Ms. Barone said. we got back were based around with 40 or more pieces of commer- some savings. Employees can get a $500 credit The fee hasn’t stopped 700 employees having some more health and cial-grade equipment easily can In turn, business owners and off their deductibles for each target from joining the center, which is wellness types of offerings,” said cost six figures, companies say. their insurance companies are met, up to $2,000. still seen as a company-provided Tracy Albers, the company’s external “But some studies say the return translating that medical information Because the plans carry high benefit since it’s less expensive interactions manager. on investment is about three to into a variety of savings for the deductibles, employers can save than most health clubs would be. That included a fitness center — one,” in terms of things like pro- companies and their employees. up to 20% on their current plans, “A lot of managers, in their and today the company has one. It ductivity gains and reduced health Early on, management may see lowering the out-of-pocket cost for interviews (of new hires) will bring occupies about 3,000 feet of space care costs, Ms. Albers said. fewer days lost for sickness or employers and workers needing people down — it’s definitely a that used to just house unused GrafTech, already has seen a health reasons. As the programs health insurance. ■ selling feature,” Ms. Barone said. Employees even ask for the equipment and office furnishings, decrease in its health care costs benefit specifically, say some Ms. Albers said. Today, it houses since it implemented both the companies. Take GrafTech Inter- more than 60 pieces of exercise fitness center and an overall well- national in Parma, for example. In equipment alongside space for ness program that helps employees 2007, the producer of graphite yoga and aerobics classes. through programs such as smoking electrodes and other carbon-based cessation and weight management. products started asking employees No pain, no gain “We’ve already seen some what they would appreciate most The cost of these facilities is not benefits. If you look at our health care costs for 2010 versus 2009, we had a decline of 20%,” Ms. Albers said. Sherwin-Williams also credits its fitness centers and wellness programs with helping it lower BUSINESS● health care costs — and, like Building our bank one quality relationship at a time. GrafTech, it says the two programs go hand in hand. * The company has been able to term loans for keep its health care costs below national averages since adopting Medical Practices a more proactive approach to employee health and fitness, said Sherwin-Williams spokesman Mike Conway. That’s one reason that, since it opened its first fitness center in Cleveland in 1987, Sherwin- Williams has opened 10 others at facilities around the world — MEMBER FDIC including some with soccer fields in 216.359.5597 Mexico and badminton intramurals *Great rates & most current terms are available, subject to credit approval & other program terms at a facility in China. ■ 20110815-NEWS--15-NAT-CCI-CL_-- 8/12/2011 10:54 AM Page 1

AUGUST 15 - 21, 2011 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 15 HEALTH AND WELLNESS Healthy workplace eating attainable, some firms prove Health care systems FOOD INSPIRATION lead way in showing Here are some ideas for quick, easy and healthy packed options are available lunches: ■ 100% whole grain pita and hummus with a piece of fruit and By CHRISSY KADLECK low-fat milk or soy milk. [email protected] ■ Spinach and romaine salad with grilled chicken breast with lots he workplace can be an of veggies drizzled with extra virgin edible minefield of tempta- olive oil dressing and balsamic vine- tion: A co-worker’s birthday gar, whole grain crackers and natur- cake in the conference al peanut butter and yogurt with Troom, leftovers from a graduation fresh fruit pieces. party in the lunch room or a bowl of ■ Whole grain pasta salad with fun-size candy bars calling out from low-calorie Italian dressing with a nearby desk. frozen mango chunks for something Without a doubt, it can be tough different. to navigate the amount of calorie- ■ Low-fat/low-salt lunch meat on laden treats that are deposited and whole wheat bread or whole wheat donated for community consumption wrap. at the office to celebrate just about ■ If you cook healthy at home, any occasion. you always can cook extra at meal And even though nutrition and times and pack leftovers for lunches work aren’t the most likely com- throughout the week. panions, it’s not impossible to make smart decisions during the SOURCES: AMY JAMIESON-PETONIC, VICKI LAGANKE daily grind, according to nutritionists RUGGERO FATICA and health-conscious employers Katie McClain, wellness coordinator at Cleveland design/build and construction company Donley’s Inc., organizes weekly around Northeast Ohio. produce deliveries from Blue Sky Green Fields. “Probably the most important Take Donley’s Inc., a design/ thing is if you are a person who is build and construction manage- down time and productivity, and fat free. someone brings in to the office in trying to eat healthy, you have to ment firm in Cleveland, which has nutrition plays a huge role in all of “It’s gone over very well,” he small portions.” plan ahead. It’s not going to hap- been partnering with Blue Sky that,” Ms. LaGanke said. said. “We have incorporated a lot Other strategies include tucking pen on its own,” Ms. LaGanke said. more whole grains in our offerings “If there is a lot of food around (the Green Fields since February to Walking the walk healthy snacks in your desk or deliver fresh produce directly to its such as barley pilaf, wild rice, locker so you’re less tempted. And office) you want to make sure to employees during the work week. Not surprisingly, the area’s brown rice, and we offer vegetarian make sure you eat a well-balanced pack your own food. It’s always 10 Katie McClain, wellness coordi- health care systems have been and vegan options every day.” breakfast and lunch, Ms. Horvath times harder to say no to some- nator at Donley’s, said she heard of among the employers leading the MetroHealth no longer sells said. thing if you’re hungry.” ■ Blue Sky Green Fields from the charge in providing healthy food in candy bars, fountain drinks or Wellness Council of Northeast Ohio the workplace. regular chips. (It does offer the and was interested in the company’s The Cleveland Clinic, well-known baked variety.) The health system farmers market produce available via for such initiatives, has made it also has reconfigured coolers so online shopping and group delivery. very inconvenient to eat unhealthy people are encouraged to make “Every single one of my employees foods, said Amy Jamieson-Petonic, better selections. that has gone through the service director of wellness coaching for “We used a strategy like how has said just how amazing the pro- the health system. supermarkets market their items. duce is,” said Ms. McClain, adding Cleveland Clinic dietitians and We greatly reduced the percentage that her company has a base of five wellness experts even developed of sugared drinks and put those at to 10 employees who order every GO! Foods, which are designated the bottom of the coolers, and week in addition to other employees by a special green label. The foods what you see at eye level is all the Formerly who order at various times meet nutritional criteria and con- healthier options … the SoBe Life- throughout the month. “I’ll also tain minimal saturated fats, added waters, Diet Pepsi, healthier juices order a box of fruit just to keep in sugars and sodium, no trans fats and water,” he said. our kitchen for our employees to and are 100% whole grain, when “We are not trying to take peoples’ have as well.” applicable. choices away, but we’re trying to Join Us for the Annual Ms. McClain said employees are “The GO! Foods are available in educate them about healthier able to go online and create their our cafeterias, catering and vending choices,” Mr. Sfiligoj said. “It’s 2011 Employee Benefits Trends own order and pay for everything machines,” Ms. Jamieson-Petonic kind of like smoking. It took years with no risk to the company. The said. “We also trying to create a for that to change, and I think it’s Presentation & Summit items are delivered every Wednesday ‘culture of wellness’ for our going to take years for people to afternoon. employees, patients and visitors, make healthier choices but we see Gallagher Benefit Services, Inc., formerly Herbruck “I have definitely seen an increase and GO! Foods are also available at it happening already.” Heinen’s and Buehler’s grocery Alder, will present a seminar on healthcare trends and in the number of fruits and vegetables Not impossible that are in our community fridge,” stores, so that folks can identify forecasts based on the results of the 2011 Employee she said. “You see just really colorful healthy foods quickly.” Kim Horvath, a registered dietitian Benefits Trends Survey. We also are excited to present breakfasts and people walking MetroHealth also has made with EMH Regional Healthcare through the halls with their pro- significant changes to offerings in System, said many workplaces also new and enhanced industry-leading resources. duce. And Blue Sky’s prices are very its cafeteria, which serves an are offering healthier snacks in Complimentary healthy breakfast and registration comparable to organic and even average of 2,000 people a day. vending machines, such as begin at 8:00 am. conventional items at Giant Eagle.” “In the last year we started a peanuts, yogurt, fruit cups and Indeed, more corporations are program called ‘A Good Choice for low-fat granola bars. looking toward promoting better a Healthier You,’ which features a “It can be hard to eat healthy at Thursday, September 8, 2011 eating because nutrition plays such complete meal every day that is work because often people bring a huge role in the health of their low fat, low sodium and lower foods they are trying to get rid of 8:00 - 10:30 am workers, said Vicki LaGanke, an calories,” said Tony Sfiligoj, director from home,” Ms. Horvath said. If Crowne Plaza Cleveland South outpatient dietitian at MetroHealth of food and nutrition services at you’re trying to watch your diet, Medical Center. MetroHealth, which in 2003 was “allow yourself a couple of days a 5300 Rockside Road “You’re talking about sick time, ahead of the curve in going trans- month to eat something that Independence, OH 44131 RSVP by September 2, 2011 GET DAILY NEWS ALERTS FROM CRAIN’S! [email protected] 216.377.2595 Register for free e-mail alerts and from Ohio’s daily papers Crain’s-produced news and blog www.herbruckalder.com receive: ■ items from the day Breaking news alerts: When Cleveland Office ■ major news happens, you’ll know ■ The Morning Roundup: A col- Small Business Report: A 1100 Superior Avenue East, Suite 1700 ■ lection of the day’s business news Daily headlines: A collection of weekly guide to small business news Cleveland, OH 44114 SIGN UP NOW AT: CrainsCleveland.com/register Main: 216.623.2600 20110815-NEWS--16-NAT-CCI-CL_-- 8/12/2011 10:48 AM Page 1

16 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011 LARGEST SUBURBAN OFFICE PROPERTIES RANKED BY NET RENTABLE SQUARE FOOTAGE

Net rentable square feet Name Rent per Address Square feet square foot Management Leasing agent Rank Phone available (in dollars) Major tenants Owner company Phone number Summit Office Park Mary Izant, (216) 363-6417 1 4700 Rockside Road, Independence 44131 525,000 14.00-19.95 Cigna, Oracle, SAI Global, Mutual of Omaha, AJ Aegon USA Realty CB Richard Ellis Inc. Brian Hurtuk, (216) 642-1105 151,575 Gallagher, Verizon Advisors LLC (216) 363-6446 Embassy Corporate Park 2 4000 Embassy Pkwy., Suite 400, Akron 44333 467,363 16.50-21.00 RJF, Hanna Campbell & Powell, Virtual Hold, Munsell Realty Advisors John Dellagnese & Tom Karcher (330) 668-4000 109,362 Crystal Clinic Inc. Associates Inc. (330) 668-4000 Park Center Plaza I, II & III Jackson Lewis, IBM, Scientific Image, CBiz Inc., Doug Leary, (216) 3 6100-6150-6050 Oak Tree Blvd., Independence 44131 417,071 23.00-25.00 Ownership Advisors, Lifeline Screening, Duke Realty Ohio CB Richard Ellis Inc. 363-6424; Bob Leibold, (216) 643-6000 13,000 Farmers Insurance (216) 363-6449 Landerbrook Corporate Center I, II, III Progressive Casualty Insurance, Linsalata Linda Short, (216) 4 5900-5910-5920 Landerbrook Drive, Mayfield Hts. 44124 333,171 22.50-23.50 Capital, Primus Venture Partners, Dinn Gotham King The King Group 245-0686; Julie White, (216) 831-9330 58,789 Hochman & Potter (216) 245-0689 Crown Centre University of Phoenix, The Fedeli Group, EMS, Thomas M. West, (216) 5 5005 Rockside Road, Independence 44131 275,000 22.00 Hewitt & Associates, GSA, Zurich, Neace Rockside 77 Properties Prestige Management 525-1475; Rico A. Pietro, (216) 447-9200 47,000 Lukens LP (216) 525-1473 Great Northern Corporate Center I & II & III Doug Leary, (216) 6 24950-25000-25050 Country Club Blvd., North Olmsted 44070 269,686 21.50 General Motors Acceptance Corp., Cingular Duke Realty Ohio CB Richard Ellis Inc. 363-6424; Bob Leibold, (216) 643-6000 6,500 Wireless, Factory Mutual, Advanstar (216) 363-6449 Lakewood Center North 7 14600 Detroit Road, Lakewood 44107 259,117 12.00-14.00 United Transportation Union, Kaiser CW Financial Services CB Richard Ellis Inc. Brian Hurtuk (216) 221-6925 17,375 Permanente, New York Life Insurance (216) 363-6446

4125 Medina Road LifeStyles, Emergency Department, Ambulatory 8 251,802 20.00-22.00 Surgery Center, Radiology, Northeast Ohio Akron General Health NA Adam Gruly Akron 44321 1,119 Orthopedic Associates Inc. System (330) 665-8285 Commerce Park IV & V NAI Daus Inc, Howard, Wershbale & Co., 9 23240-23250 Chagrin Blvd., Beachwood 44122 230,000 20.00 Dorsky Hodgson Parrish Yue, Prime Conduit, Commerce Park IV & V Munsell Realty Mark R. Munsell (216) 504-4820 12,645 Point to Point Marketing, University Hospitals Associates LLC Advisors Inc. (216) 504-4820 6200 Oaktree Blvd. Terry Coyne, (216) 10 6200 Oaktree Blvd., Independence 44131 228,837 17.50 Clear Channel Communications, T Mobile, JDI Oak Tree Holdings Grubb & Ellis Co. 453-3001; David Hollister, (216) 453-3000 22,137 TransUnion, Sirva, Vox Mobile, Apple American LLC (216) 453-3089 Freedom Square I, II & III 4401 & 4511 Rockside; 6000 Freedom Square, Independence 227,897 Independence Bank, Hurricane Labs, Zig Doug Leary, (216) 11 44131 70,000 18.95-21.95 Marketing, Hylant Group Inc., Xerox Corp., Ohio Duke Realty Ohio CB Richard Ellis Inc. 363-6424; Bob Leibold, (216) 643-6000 Farmers Insurance (216) 363-6449 One and Two Chagrin Highlands Penske Logistics, Regus/HQ Global, Intellicorp, John L. Klayman 12 2000-3000 Auburn Drive, Beachwood 44122 224,019 25.00 KeyBank, Ancora Advisors, RAV Financial, Chagrin Headquarters Jacobs Real Estate Cindy Greiner (440) 871-4800 30,000 Inverness Investment Venture Services (440) 808-7492 Corporate Plaza I & II Alcoa, Fleet Response, ING, Talus Brokerage Doug Leary, (216) 13 6450-6480 Rockside Woods Blvd. South, Independence 44131 220,271 19.95-21.95 Services, Ratliff & Taylor, Benefit Resource Duke Realty Corp. CB Richard Ellis Inc. 363-6424; Bob Leibold, (216) 643-6000 15,000 Group, Licata (216) 363-6449 INA/Bailey Building University of Akron, Panera Bread, Eliza 14 14701 Detroit Ave., Lakewood 44107 215,000 12.00-21.00 Jennings, Jimmy John's Subs, Cleveland Clinic, 14701 Detroit LLC Beachwood Property Myrna Previte (216) 514-5100 50,000 Neighborhood Pediatrics Management (216) 514-5100 South Hills Office Park-Bldgs I, II, III 15 South Hills Blvd., Broadview Heights 44147 207,000 20.00-23.00 Ceridian Corp., Millisor & Nobil, Janik & NA Grubb & Ellis Co. Jeffrey D. Cristal (216) 861-3040 75,000 Dorman LLP, Fox Sports, MetLife, ComDoc (216) 453-3050 EastPoint I & II Austin Building & Design Inc., NCA Financial, 16 6085 & 6095 Parkland Blvd., Mayfield Heights 44124 187,810 21.00 Danaher Power Solutions, Moreland Piedmont Office Realty CB Richard Ellis Inc. Mary Izant (216) 687-1800 12,379 Management Trust (216) 363-6417 Tower East Gregory B. West, (216) 17 20600 Chagrin Blvd., Shaker Heights 44122 173,087 15.50 Equity Engineering, Joseph Mann & Creed, NA Ostendorf-Morris Co. 861-5379; David R (216) 861-7200 40,650 Dingus & Daga, Dise & Co. Horowitz., (216) 861-5931 Euclid Office & Medical Plaza(1) 18 26250-26300 Euclid Ave., Euclid 44132 168,092 18.00 Medical and dental offices CM Realty NA Rico A. Pietro (216) 289-8500 102,406 (216) 525-1473

King James Office Park Bldgs. III and IV 167,650 Myrna Previte 19 24500-24600 Center Ridge Road, Westlake 44145 30,030 10.50 NA Ogle Properties Ogle Properties (216) 514-5100

Signature Square I & II Pro Ed Communications, Ciuni & Panichi Inc., 20 25201 & 25101 Chagrin Blvd., Beachwood 44122 161,196 Negotiable Liberty Bank, PCC Airfoils, Cleveland Clinic Goldberg Cos. Goldberg Cos. Dennis M. Bush (216) 831-6100 15,786 Opthamology, Resilience Capital Management (216) 831-6100 x237 Metropolitan Plaza Linda Short, (216) 21 22901 Millcreek Blvd., Highland Hills 44122 160,366 22.50-23.50 Victoria Fire & Casualty, Pfizer Inc., Sedlak Gotham King The King Group 245-0686; Julie White, (216) 831-9330 8,628 Management Consultants, Metlife (216) 245-0689 Rockside Square Office Park 22 6133-6155 Rockside Road, Independence 44131 156,966 16.50-18.50 Wells Fargo Bank, Qwest, Berlitz International, NA The King Group Julie White (216) 831-9330 35,000 Pinkerton Insurance (216) 245-0689 Crocker Park Morgan Stanley, Wells Fargo, Merrill Lynch, Carla Lally, (216) 292-0248 23 Crocker & Detroit Roads, Westlake 44145 150,000 20.00-26.00 Huntington Bank Wealth Management, KeyBank Crocker Park LLC Stark Enterprises Jeremy Bates (216) 464-2860 2,500 Wealth Management, MetLife (216) 292-0239 Plaza South Office Park Associated Software Consultants, Crawford & 23 7251-7261-7271 Engle Road, Middleburg Heights 44130 150,000 16.25 Co., McCarthy Burgess & Wolff, Dial America, Plaza South Flair Management Marc Braun (440) 838-1400 49,000 Zin Technologies, Verantis Corp. Consolidated LP (216) 453-3014

LA Centre Office Plaza I & II Houlihan's, University Hospitals, Brick 4 Kidz, 25 149,401 11.00-17.00 R.E. Warner, Premier Banquet/Catering, St. Carpenters Hospital Carpenters Hospital Myrna Previte 25651/25777 Detroit Road, Westlake 44115 23,000 Jude and Pension Fund and Pension Fund (216) 514-5100 Genesis Building 26 6000 Lombardo Center Drive, Seven Hills 44131 138,492 22.50-23.50 New York Life Genesis Building Ltd. Dalad Realty Jason Laver (216) 447-0070 34,900 (216) 447-0070 Great Northern Technology Park 27 25111 & 25249 Country Club Blvd., North Olmsted 44070 138,241 17.50 Moen, Heartland Payroll Services, Star Tech Park Associates Kennedy Wilson of Mike Sekerak (216) 533-1415 21,824 Processing/First Data Ltd. Ohio (216) 533-1415

Developers Diversified Realty Building Singerman, Mills, Desberg & Kauntz, The Doug Leary, (216) 28 134,722 26.50-28.50 Malrite Co., TOA Technologies, Chase Developers Diversified Developers Diversified 363-6424; Bob Leibold, 3333 Richmond Road, Beachwood 44122 25,128 Properties, Mid-America Management Realty Corp. Realty Corp. (216) 363-6449 Beacon Place 29 6055 Rockside Woods Blvd., Independence 44131 134,000 24.00 AGA Gas Inc., Wegman, Hessler, Vanderburg 6055 Properties Ltd. Dalad Realty Lloyd Mazur (216) 447-0070 6,369 (216) 447-0070 Source: Information is supplied by the companies unless footnoted. Crain's Cleveland Business does not independently verify the information and there is no guarantee these RESEARCHED BY Deborah W. Hillyer listings are complete or accurate. We welcome all responses to our lists and will include omitted information or clarifications in coming issues. The Book of Lists and enhanced versions of most lists, with more companies, are available to purchase at www.crainscleveland.com. (1) Information is from CoStar Group Inc., www.costar.com. 20110815-NEWS--17-NAT-CCI-CL_-- 8/12/2011 12:59 PM Page 1

AUGUST 15 - 21, 2011 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 17 Buy: General investors Steris: Company still on solid ground continued from PAGE 3 A ‘formidable competitor’ In a February conversation with not yet jumping aboard from the fourth quarter, Steris CEO Crain’s, a company executive said that Walter Rosebrough said some Even if the indicator is approved, 8,000 of its Sterrad-brand machines customers delayed purchases after sales ramp up and Steris comes were in use at the time, up from continued from PAGE 1 “There are tremendous learning that they had another six close to selling 9,300 System 1E 6,000 in December 2009. $223,000 of Cliffs shares Aug. 1, and buys in many industries.” months to replace the System 1. machines by the end of its current Competition from a company RPM International chairman and Steris announced last March 21 that fiscal year, the company may need owned by Johnson & Johnson CEO Frank C. Sullivan, a Timken – Umberto P. Fedeli, active the FDA had pushed back the dead- to live with a smaller installed base should worry Steris, said C.L. King’s director, who bought $99,660 of investor and board member in line for replacing the System 1 to of sterilization machines than it Mr. Goldman, who follows Johnson Timken shares last Monday. That some area banks Feb. 2, 2012, from Aug. 2, 2011. previously had. & Johnson as well as Steris. day — Aug. 8 — was the first trading “When people have more time, Steris estimates that there are In news releases and conference day after Standard & Poor’s down- ald replied, “No, unfortunately. sometimes they take more time,” 20,000 System 1 machines at health calls, Johnson & Johnson frequently graded the credit rating of the U.S. “By and large, if you speak of gen- Mr. Rosebrough said. care facilities in the United States. has been mentioning Advanced government and sent the market eral investors, it’s a pretty unusual Steris expects sales of the System Half of the machines are more than Sterilization Products as a strong- reeling. … investor who has the gumption 1E, which is made in Mentor, to pick 10 years old, and many could be out performing business unit, Mr. Ralph M. Della Ratta Jr. is another to buy into a sell-off like what we’ve up in the second and third quarters of commission, said Julie Winter, Goldman said. He expects that, if buyer: He bought 1,000 shares for got going on right now,” he said. of fiscal 2012 as companies prepare director of investor relations for Advanced Sterilization Products nearly $20,000 in Olympic Steel, for Steris. Picking up the beaten down to meet the deadline. can get a hospital to replace a which he’s a director. Robert Goldman doesn’t think Steris doesn’t expect to get back System 1 with a Sterrad machine, “When I saw that the market had Umberto P. Fedeli, an active that will happen. Mr. Goldman, a to that level anytime soon, Ms. the company will be able to sell plummeted, I thought, ‘Well, I’m a investor in and a board member for medical devices and supplies analyst Winter said. Once the rush to replace them other products they normally long-term owner of this company, a few local banks, says he bought for C.L. King & Associates of New the System 1 is long over, Steris likely might buy from Steris. and it’s probably a good time to stock every day in early August, York, estimates Steris will have sold will sell fewer than 1,200 System 1E “That’s the danger of letting a buy,’” said Mr. Della Ratta, managing though his most recent purchases a total of about 4,300 System 1E machines per year, and some of formidable competitor in any of director for Western Reserve Part- have not been insider buys. machines by the end of its fiscal year. those will be replacement units, she your markets,” he said. ners LLC, a Cleveland investment He identified Cincinnati Finan- Mr. Goldman said he doesn’t said. Morris Ajzenman, a senior research banking firm. cial Corp., an insurance company, expect a big increase in System 1E The installed base could be some- analyst for Griffin Securities Inc. of “I think the reason (company) and Berkshire Hathaway Inc. as two sales, citing the drop in sales in the what smaller because the System 1E New York, said he was “disappointed” directors are buying stock is they companies in which he has increased first quarter. He described early is 20% faster than the System 1, by the drop in first quarter System understand … whatever negative his investment in recent weeks. He System 1E buyers as “low-hanging meaning that hospitals will need 1E sales. Sales of the machine will stuff’s in the marketplace isn’t really declined to say by how much. fruit. fewer machines to process the same improve, he said, but Steris will lose related to their company,” he said. “There are tremendous buys in “That sale becomes more difficult amount of medical equipment, Ms. some of the market share System 1 The insider stock purchases are many industries,” said Mr. Fedeli, as time goes on,” he said. Winter said. had held, at least initially. not at all shocking, say local finance president and CEO of The Fedeli Plus, a company owned by John- Regardless, the overall company pros. Many companies’ stock, they Group, an insurance brokerage firm Biological clock son & Johnson has used Steris’ trou- — which sells a long list of other note, is bargain-priced, and insiders in Independence. “Certain businesses Mr. Goldman also cited as a reason bles with the FDA to get hospitals to medical products — is in good who are buying likely believe those are not in bad shape, but every- for his expectations the FDA’s hesi- replace the System 1 with its own shape, Mr. Ajzenman said, noting declines are an overreaction. thing’s being beaten up price-wise.” tance to give Steris approval to begin product. that it produces strong cash flow The closing stock prices of Cliffs, Mr. Fedeli is among those who selling its biological indicator; it’s a A spokesman for the company, and can finance expansions without Olympic Steel, Timken, Parker view the increased insider buys as a product meant to tell customers that Advanced Sterilization Products of relying heavily on debt. Hannifin Corp. and FirstMerit Corp. positive sign. the System 1E successfully killed all Irvine, Calif., did not respond to two “There’s still a lot more to this com- all had dropped by more than 20% “I think they’re looking at their living organisms inside the machine phone messages seeking comment. pany than System 1E,” he said. ■ in the period from July 22, when the businesses and saying, ‘Our busi- during a sterilization cycle. S&P 500 Index was near a recent nesses are OK, and these are good Steris three weeks ago filed to have peak, to Aug. 9. values for us,’” he said. “I think the biological indicator approved “Stocks are cheap,” said Joe simultaneously, they also want to through the FDA’s De Novo process, Arnold, founder and president of provide some leadership.” which provides a way for low-risk Foundation Wealth Advisors LLC in Adam Fleck, an equity analyst products to receive approval through Westlake. “It’s that simple. Corpo- with Morningstar Inc., an indepen- the agency’s 510(k) program, even if rate earnings and balance sheets for dent investment research firm in there is no other similar product the most part are very strong, and Don’t ignore the Chicago, said he doesn’t believe already on the market. Receiving the executives who are in charge insiders are trying to time the market. 510(k) approval, which normally is know it firsthand. “If they were to know their orders reserved for products that are simi- “(Insider buying) isn’t just are slowing materially and the next lar to something that’s already sold, happening here in Cleveland, but is several quarters look terrible, it would allow Steris to avoid conducting happening all across the country,” would be foolish for them to go in more studies on the indicator. Mr. Arnold added. and buy shares,” he said. Instead, Mr. Rosebrough acknowledged in Mr. Fleck says the increased buying the Aug. 2 conference call that an SNORE! Individuals don’t follow suit is a “pretty positive indication that inability to sell the biological indicator It isn’t that the insider buying in they believe this (downturn) is has had a “real impact” on System Snoring can be a symptom of sleep apnea, a condition Northeast Ohio companies is huge, temporary in nature.” 1E sales. involving temporary lapses in breathing that can contribute said Brent Luce, portfolio manager ‘A big sale going on’ However, sales figures for the for Lakefront Partners, a Cleveland System 1E should fall within Steris’ to a wide range of health issues. hedge fund. However, it’s noteworthy The people doing the insider buying estimated range even if the FDA that there are insider buys at all, Mr. run the risk of catching a falling never approves the product, Mr. Sleep apnea: Why At-Home Sleep Luce said, because insiders typically knife, so to speak, by buying well Rosebrough said. Many customers Apnea Testing? already have a lot invested in their before the market reaches bottom. use the System 1E without the bio- t
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to 2003 and 2008 to 2009. In Mr. Elizabeth Park Capital Manage- respond to Steris’ filing within 60 being involved assistance Luce’s experience, insider buying ment, a Beachwood hedge fund, said days, but the response could come in a motor vehicle sometimes encourages others to he anticipates the insider buying in the form of more questions. Mr. accident For more information or to buy stock. probably will last through mid- Goldman said it is “unlikely” that the Source: American Association for schedule Montefiore’s new Most observers are confident that September, when insiders will be FDA will approve the biological Respiratory Care, 2011 At-Home Sleep Apnea Testing insiders’ purchases are a good sign. restricted from trading during what’s indicator before the February 2012 and Therapy Program, call “These people know their called a quiet period prior to quar- deadline, noting that other companies 216.910.2540. companies better than anybody terly earnings reports. have had to wait several months else, and if they’re that comfortable “If the markets continue to be before receiving approval through with the future of their companies weak, I think you’re going to see the De Novo process. — no matter what their stock is insiders continue to buy,” he said. Mr. Rosebrough said he expects doing — that should be encouraging As for Mr. Fedeli, he says he’ll the FDA to approve the biological for us,” said Tom McDonald, presi- continue to buy stock as long as he indicator before the Feb. 2 deadline, dent and CEO of McDonald Partners has the means. though he noted that he can’t be LLC, a Cleveland investment advi- “I don’t have unlimited resources,” sure. sory firm. he said with a laugh. “If you had “I feel as good or better than I’ve Montefiore’s Mandel Rehab Pavilion | One David N. Myers Parkway Asked whether his individual clients unlimited resources, you could go ever felt in terms of our interactions Beachwood, OH 44122 | montefiorecare.org are investing similarly, Mr. McDon- on a buying binge.” ■ with the agency,” he said. 20110815-NEWS--18-NAT-CCI-CL_-- 8/12/2011 10:47 AM Page 1

18 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 15 - 21, 2011

Contact: Toni Coleman Copy Deadline: Wednesdays @ 2:00 p.m. Phone: (216) 522-1383 All Ads Pre-Paid: Check or Credit Card Fax: (216) 694-4264 E-mail: [email protected] REAL ESTATE LEGAL NOTICE PUBLIC NOTICE OFFICE/WAREHOUSE AUCTION SPACE NOTICE TO VENDORS Unreserved Bankruptcy Notice is hereby given that sealed proposals will be received in the Cuyahoga County Office of Procurement & Diversity, County Administration Building, 1219 BANKRUPTCY! Real Estate Auction Ontario Street, Room 110, Cleveland, Ohio 44114 until 11:00 A.M. local time on 23K SF of industrial space Sept. 28 • 11:00 AM On-Site September 16, 2011 for lease of approximately 4,500 to 5,500 square feet of of- (20K Warehouse, 3K Office) fice space for The Cuyahoga County Department of Public Works of behalf of The with 2 cranes at 30 Industry Dr. Cuyahoga County Juvenile Court for a Regional Juvenile Court Probation office in Bedford Heights. for the period April 01, 2012 to March 31, 2017. $450,000! Required geographic location: The space must be in an area bounded by: Call Jerry Fiume or Tom Fox 10830 Brookpark Rd. Cleveland North: A horizontal line starting westerly at Triskett / W 140th traveling east NAI Cummins towards Berea, no further north than the intersection of Berea and West 117th for CITY OF INDEPENDENCE, OHIO, USA 77,000 sq.ft. Retail Building the western edge of the northern line Requesting Ideas, Concepts, Plans for the redevelopment of the Old Middle 330-535-2661 South: A horizontal line starting westerly at Puritas / W 140th traveling east School building and/or land in the Downtown Historical District at 6565 Built 2000 - 5.8 Acres towards Memphis, no further south than the intersection of Memphis and ridge for Brecksville Rd., Independence, OH 44131 through an RFP process. Cuyahoga Co. Parcel No. the western edge of the southern line INVESTMENT 433-16-018 East: West 65th street Receive a copy of the RFP for review and response at the City’s Website PROPERTY West: West 140th Street www.independenceohio.org/CommercialLife/MiddleSchool.aspx Bambeck Auctioneers Inc. The official closing time shall be determined by the wall clock located in the RFP due by 9/2/11 Invest in Assisted Call Dave 330-260-0192 Office of Procurement & Diversity. (SAME ADDRESS). Late proposals will be Questions, comments, or additional information requests contact: www.bambeck.com returned unopened. Living Facilities Ron White, Economic Development Department 16-40 Bed Facility Investors There will be a Pre-proposal Conference on August 31, 2011 at 10:00 A.M. local 216-524-4131 Wanted for NE Ohio Properties [email protected] For daily on-line time at The Department of Public Works, 2nd floor conference room, 1642 Lake- Chris Foley side Avenue, Cleveland, Ohio 44114. IT IS STRONGLY RECOMMENDED Oreste Realty LLC updates, sign up @ THAT INTERESTED VENDORS ATTEND. (614) 915-8835 CrainsCleveland.com/Daily Specifications and proposal blanks may be obtained at the Office of Procurement & Diversity. (SAME ADDRESS) The Cuyahoga County reserves the right to accept or reject any proposals or any part or all parts of any proposal submitted, and waive all technicalities. Each proposal must state in full the name and address of each person, firm or corporation interested in the proposal submitted. BY ORDER OF CUYAHOGA COUNTY LENORA M. LOCKETT, DIRECTOR Office of Procurement & Diversity CLASSIFIED Advertise in the Crain’s Cleveland Business on August 15, 2011 BUSINESS OPPORTUNITY This notice may also be viewed at the following Cuyahoga County Internet Web site www.opd.cuyahogacounty.us by clicking on the “Show Events” tab. A list of open Crain’s Executive Recruiter bids will appear on the next screen. Click on the bid due date to view the legal notice. NOTICE OF BUSINESS OPPORTUNITY The Cleveland Airport System of the City of Cleveland is soliciting All County contracts are subject to all applicable County ordinances, including, but proposals from experienced, professional commercial parking not limited to, the Cuyahoga County Ethics Ordinance, Cuyahoga County Inspector operators to manage and operate Airport owned and operated Vice President of MSO Operations General Ordinance, and Cuyahoga County Board of Control, Contracting and public and employee parking facilities and associated shuttle We are a rapidly growing MSO serving multiple regions and our Purchasing Ordinance, and the successful bidder shall comply with all such ordi- services at Cleveland Hopkins INternational Airport, Burke Lake- main office is in the Cleveland area. Reporting to the CEO, the VP nances as an integral part of all County contracts. Copies of all County ordinances front Airport and other Department of Port Control (“Department”) are available on the County Council’s web site at http://council.cuyahogacounty.us/. of MSO Operations will oversee the continued development and managed facilities. implementation of short and long term operational plans, and Interested parties may obtain a copy of the Request for Proposal, aligns regional goals with company-wide objectives. The VP will free of charge, under the Business Information section at www.clevelandairport.com; by calling (216) 265-6086; by written manage team performance, financial budgets and departmental Crain’s Cleveland Business request addressed to Procurement Section, Department of Port contribution levels within the MSO. You will play an active role Control, 5300 Riverside Drive, P. O. Box 81009, Cleveland, Ohio in envisioning and implementing EMR/revenue cycle implemen- 44181-0009 or by email to [email protected]. tation strategies, assuring high levels of project management Online Property Search Proposals are due by 4:00 p.m. EDT Friday, October 14, 2011. effectiveness and providing outstanding customer satisfaction. You will also be responsible for and inspiring excellent associate Powered by LoopNet, performance that aligns with our customer oriented goals and Cleveland-based interactive values. Significant related experience in healthcare is required. No. 1 in Commercial Real Estate online marketing firm seeking to grow Qualified candidates should submit resumes, salary requirements We are interested in acquiring /assuming a smaller web marketing firm or Looking for property? working with freelance marketers & consultants who want to change and references to: [email protected] Search thousands of local listings careers without disappointing their customers. If you would like to speak confidentially, contact Mark: 330-220-6100 ext. 222. [email protected] www.ProximityMarketing.com Selling or leasing a property? Director of IT (Healthcare) The Director of IT will be responsible for leading the efforts at the Get your property featured through Crain’s BUSINESS FOR Managed Services Organization (MSO) to ensure client satisfac- tion with the practice management and electronic medical records www.CrainsCleveland.com/LoopNet FOR SALE SALE systems. The position manages the Service Line IT vendor relationships including software, services and hardware contracts TAVERN Business Bulk Lubricants & Chemical Sale and service level agreements. Strong project management skills, For advertising opportunities Westpark Area Local distributor selling remaining Inventory budgeting and team management is required. Candidates must be Located in free standing building. of engine oils, gear oils, ATF, and antifreeze. creative and follow through in a timely manner. The position contact Toni Coleman Well known establishment. In 330 Gallon Totes & 55 Gallon Drums ensures appropriate implementation methodologies and support [email protected] Sunday Liquor License. Large Email [email protected] for bid strategies for these applications to effectively enhance the strate- kitchen with pizza oven. and sale instructions gic posture of the MSO. This position reports to the company 216-522-1383 Contact Wayne 216-476-1999 Phone 330-777-5205 Vice President of Operations and the CEO.

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AUGUST 15 - 21, 2011 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 19 THEINSIDER REPORTERS’ NOTEBOOK THEWEEK BEHIND THE NEWS WITH CRAIN’S WRITERS Suing the hand According to his lawsuit, Mr. Bauer was a office purposes. — Timothy Magaw AUGUST 8 - 14 Lubrizol employee for more than 25 years that once fed him and had served as vice president and general Why type when ■ counsel since 1992. The big story: Ohio’s higher education czar, The former general counsel for Lubrizol Corp. is suing the company he spent nearly Emails sent to Mr. Bauer’s attorneys were you can talk? Jim Petro, released a proposal he said would not returned last week. A Lubrizol spokes- ■ help free the state’s public universities of swathes two decades representing. Pecking away at a keyboard to input data Joseph W. Bauer, who retired from Lubrizol woman said the company doesn’t comment into a patient’s electronic medical record is of red tape, though the schools in exchange may on pending litigation. — Michelle Park need to forego as much as 20% of their state last Jan. 3, has sued the Wickliffe specialty a time-consuming chore, some doctors support, which then would be pumped into a chemicals company for $75,000, claiming it say, and doesn’t lend itself to the efficient state-run scholarship fund. The proposal, which refused him severance and benefits to which The name isn’t the flow of patients. So, dozens of doctors at is designed to be implemented in two phases, he says he’s entitled in light of the pending MetroHealth have embraced new voice sale of Lubrizol to Warren Buffett’s Berk- same, and that’s good recognition software the hospital system is would create so-called “enterprise universities,” ■ often dubbed “charter universities.” The proposal shire Hathaway Inc. The medical school in Rootstown formerly installing as part of its electronic medical now heads to the state Legislature for approval. According to Mr. Bauer’s lawsuit filed known as NEOUCOM (or if you can stumble records system. Read the proposal at tinyurl.com/4xdzzcc. Aug. 5 in U.S. District Court in Cleveland, through it, the Northeastern Ohio Universi- What started as a pilot project a year ago his employment agreement states that the ties Colleges of Medicine and Pharmacy) with about 10 doctors now is used by about On frozen pond: The Cleveland Indians termination of an executive after the com- officially is putting its old name to rest. 100 physicians throughout the system, said confirmed that a college hockey showdown mencement of any discussion with a third The school — now known as (the more Dr. David Kaelber, chief informatics officer. between Ohio State University and the Univer- person that results in a change in control palatable) Northeast Ohio Medical Univer- Though MetroHealth doesn’t have quantita- sity of Michigan will take place next Jan. 15 at would be deemed to be a termination after sity — will unveil its new signage and branding tive data about the system’s success, Dr. Progressive Field as the culmi- a change in control. campaign at an event on campus this Kaelber said doctors using the software nating event of Snow Days, According to the law- morning, Aug. 15. believe it has sliced in half the time they the team’s package of winter suit, on or before Dec. 17, The university’s new spend documenting patient data. entertainment attractions 2010, a discussion occurred logo dons a blue and Dr. Kaelber said the voice recognition staged at the ballpark. The between Lubrizol chair- gray flame above a technology — dubbed Dragon — is part of a meeting on the ice between man, CEO and president book, which, according suite of tools the system recently installed Ohio State and Michigan is James Hambrick and an investment banker to the university, reflects “the idea that into its electronic medical records, or EMR, advertised by the Indians as acting as an intermediary between Lubrizol knowledge is power.” As for the colors, they system to simplify the often-confusing the first outdoor college hockey and Berkshire Hathaway, and that discus- “bring through the tradition of the existing system that worked more as a billing and game in Ohio. The Indians are calling the game sion commenced a process that led to the look and feel of the university.” compliance tool than one to facilitate “The Frozen Diamond Faceoff.” It will take place sale of Lubrizol. Thus, Mr. Bauer argues that Today’s event caps a lengthy process for a patient care. on a regulation-size skating rink that would be his Jan. 3 retirement “must be treated as if name change that required the approval of “The problem that needed to be fixed is built on the infield of Progressive Field. it occurred after a change in control for the state Legislature and the governor, as how do you make the EMR a tool for purposes of determining his rights, benefits well as an extensive branding review. improving quality and efficiency of patient Space exploration: Cuyahoga County’s new and severance payments.” Besides changing the signage campus- care,” Dr. Kaelber said. “One of the keys was charter government is tackling a thorny issue left However, Lubrizol’s May 5 proxy state- wide, the university also will launch a new overcoming the obstacles of a keyboard, over from the prior county commission system ment explicitly repudiated any obligations website. Employees can pick up new busi- which was the bottleneck for getting infor- by hiring Allegro Realty Advisors Ltd. to conduct to Mr. Bauer by stating that he did not have ness cards and letterhead, but are encour- mation from doctor’s head into the medical a comprehensive study of the county’s space a change-in-control agreement. aged to use their old materials for inner- record.” — Timothy Magaw needs and to develop a plan for the future. The county employs about 8,000 people and owns or leases space at about 50 different locations coun- WHAT’S NEW BEST OF THE BLOGS tywide. County offices are spread throughout downtown Cleveland. Excerpts from recent blog entries on such as OverDrive Inc. in Valley View should CrainsCleveland.com be good with words, so a recent story from Ready to roll: The largest private component EarlyWord.com came as no surprise. in downtown Kent’s massive rejuvenation plan Do the math: Fractional The website reported that the big ques- formally kicked off construction. Fairmount tion for librarians at OverDrive’s recently Properties of Cleveland and its partners joined jet ownership is surging completed Digipalooza was when Kindle with city of Kent and Kent State University offi- ■Fractional ownership of private jets and use users will be able to download library mate- cials to break ground for the $27 million, mixed- of so-called “jet cards” is on the rise as rial via OverDrive. use portion of a $100 million update of down- commercial travel frustrates fliers, and “Throughout the conference, CEO Steve town Kent. The mixed-use project has been in Flight Options LLC in Richmond Potash, looking like a kid with a the planning stages for more than three years. Heights is one of the beneficia- delicious secret, kept saying ‘soon’ The 185,000-square-foot development includes ries, according to Bloomberg. and ‘I’m not allowed to announce previously announced new offices for corporate “Fractional sales increased a date yet,’” EarlyWord.com re- units of Davey Tree Expert Co. of Kent and Ametek COMPANY: Audio-Technica, Stow almost sixfold in the first quarter ported. But during the final Technical & Industrial Products Co., headquar- compared with a year earlier at session, he delivered a hint by tered in Berwyn, Pa. PRODUCTS: Player’s Line head- Flight Options, while sales of jet summarizing the main points of phones cards, a prepaid lease of flight his “Crystal Ball Report”: Not so hot: Operations at Phoenix Coffee’s time in 25-hour segments, rose ■ Streamlining (both down- café on West Ninth Street in downtown Cleve- The company says its new headphones 46%,” the news service reported. loading and ordering) land are about to grind to a halt. The company are designed for people who like to run, jog, Two other big players in the frac- ■ Explosion (we have gone announced on its website that it will close the exercise and work out in the gym or at home. tional jet business — NetJets Inc. from two reading devices to 85 store later this month. Its last day of operation Player’s Line models include the ATH-CKP300 and Flexjet — reported similar FILE PHOTO/ and more are coming) will be Wednesday, Aug. 24. In a letter posted on Sport Fit In-ear Headphones (suggested increases. MARC GOLUB ■ Premium (the library catalog the site to “Phoenix customers and fans,” Sarah retail price: $39.95) and the ATH-CP300 “To some people it’s worth it Spelling bee champ as the most premium, value- Wilson-Jones, the company’s CEO and “super- Sport Fit Ear-bud Headphones (SRP: $34.95). to avoid all the security lines and Steve Potash added site on the web) th barista,” wrote that “our West 9 café has not yet Audio-Technica says its ATH-CKP300 the inconvenience because air- ■ Traffic (enormous growth been able to operate at a profit, and 12 months in-ear headphones have a sweat-proof design line travel right now is this commodity,” coming by year’s end) of astronomically high coffee prices have made with a high moisture protection grade, and said Vitaly Guzhva, associate professor of it unfeasible for us to continue to invest in the an angled housing that keeps the cord out of finance at Embry-Riddle Aeronautical Uni- Here’s a way to get hip cafe.” the way during workouts. The headphones versity in Daytona Beach, Fla. are available in blue, red, white, yellow and For travelers looking for less commitment to your medical future This and that: U-Store-It Trust of Wayne, black, and they include a two-foot extension than partial ownership and jet access for one ■ A University Hospitals Case Medical Center Pa., said it sold 18 self-storage warehouses in cord, a cable clip and earclips in four sizes: year, a jet card is a better choice, said Mike doctor popped up in a Money magazine story Cleveland, Canton and Indianapolis for $43.5 XS, S, M and L. The headphones’ 10.7-mil- Silvestro, CEO of Flight Options, which has offering five things you need to know before million. The real estate investment trust, formerly limeter drivers “provide wide-range frequency more than 1,300 customers. you have a major joint replacement surgery. based in Cleveland, said it sold all its properties response and clear, immersive sound with “Flight Options, NetJets and Flexjet all Dr. Matthew Kraay, director of joint recon- in Canton and reduced its Northeast Ohio port- powerful bass, a detailed midrange and offer jet cards,” according to Bloomberg. “The struction and arthritis surgery at UH Case folio outside Canton by 30% in terms of square extended highs,” Audio-Technica says. purchase price for 25 flight hours ranges Medical Center in Cleveland, appears in the footage. … Associated Estates Realty Corp. The Player’s Line ATH-CP300 ear-bud from $100,000 to about $300,000 depending section that says “experience is paramount.” acquired a 250-unit apartment complex in Fair- headphones have ear clips that go around on the type of jet, and jet-card users also Money reported that studies show that fax, Va. The real estate investment trust that the ear to provide a secure fit even during have to pay hourly flight rates for fuel.” patients of surgeons who do lots of hip and specializes in apartment properties did not dis- strenuous exercise. The headphones come knee replacements tend to have fewer com- close the purchase price, but said it has renamed in white, pink, black or yellow. plications. the property Dwell Vienna Metro. It was built in OverDrive Inc. CEO For information, visit www.ShopAudio Dr. Kraay’s advice is to “choose a doctor 2008. Technica.com. spells it out for us who does at least 100 annually and has ■ The CEO of a major digital book distributor completed a joint-replacement fellowship.” 20110815-NEWS--20-NAT-CCI-CL_-- 8/11/2011 2:08 PM Page 1

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