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CCLB 12-11-06 A 1 CCLB 12/8/2006 4:08 PM Page 1 www.crainscleveland.com Vol. 27, No. 50/$1.50 DECEMBER 11 - 17, 2006 LATENEWS GLOBAL AFFAIRS ■ BUSINESS CLIENTS’ CASE LECTURER SEES FAR-FLUNG NEEDS HELP DROP IN GDP GROWTH TRAVEL COMPANY ■ Gross domestic product growth will slow and unemployment will OVERCOME rise, but the economy will remain in SEPT. 11 TO decent shape for 2007, according PROSPER. to an economic forecast by Sam Thomas, a senior lecturer in PAGE 3 banking and finance at the Weather- head School of Business at Case Western Reserve University. In an interview prior to delivering the 33rd annual David A. Bowers Economic Forecast last Friday, Mr. Thomas said he projects real GDP growth of Case seeks aid 2.4% for 2007, down from 3.2% in ennis Leipold, owner of Leipold 2006. “That’s a decrease we’re Tire Co. of Cuyahoga Falls, was going to feel, but it’s not a reces- sion,” Mr. Thomas said. He also trying to stay one step ahead of for sublease projects unemployment to rise to customer demand last week as 4.9% from 4.7% this year. Dsnow blanketed much of Northeast Ohio. — Scott Suttell However, Mr. Leipold, like other tire FOREST CITY ADDS TO dealers in the area, has been tripped up by a of Halle space TOWER CITY HOLDINGS labor strike that has slowed production at a ■ Forest City Enterprises Inc. continues widening its reach south dozen Goodyear Tire and Rubber Co. plants ‘Temporary hold’ on university’s relocation of of Tower City Center in an area across the country. near Tower City Amphitheater in back-office jobs downtown may be permanent the Flats. Land records show the Until a few weeks ago, Leipold Tire dealt developer paid $2.18 million for almost exclusively with Goodyear brand By STAN BULLARD brokerages Case invited to vie for the [email protected] engagement. three warehouses at 410-607 tires. However, Mr. Leipold now counts on Stones Levee, which is catty- Robert Roe, president of the Cleve- corner to the amphitheater. The different company tire brands, such as Case Western Reserve University land office of Staubach Co. corporate company has no immediate plans Cooper and Toyo, for at least 90% of the is taking a step that signals it may be realty services, said he views the for the buildings beyond continuing preparing to drop or scale back its search as an indication “that they’re to rent them and may use open rolling stock that supplies his two stores. long-stalled plan to move about 300 not coming downtown.” land on the 3.4-acre site for added Mr. Leipold said Goodyear shipments have employees from its University Circle “It shows they don’t need the campus to downtown Cleveland. space, or need all of it, and want to parking, said Brian Cappelli, Tower declined about 10% in volume each week City vice president of operations. The university has sought propos- see how much they can unload,” — Stan Bullard since the strike began Oct. 5. And he said the als from four real estate brokerages said Mr. Roe, who noted that his firm full effect of the strike on Goodyear’s relation- for how they’d handle a sublease of is not in the hunt for the assignment. FUNDRAISING BIZ BUYS office space Case has leased at the Another real estate insider, who CONNEAUT RADIO STATION ship with tire retailers and wholesalers is yet Halle Building, said Lisa Chiu, Case’s asked not to be identified, also sees director of media relations. Case two the potential listing as a sign Case ■ to be seen. Cause Plus Marketing LLC of years ago leased 120,000 square feet may be looking to extricate itself Gates Mills, which sells products to See TIRES Page 21 in the building at 1228 Euclid Ave. from the lease. raise money to support adult stem but never has occupied it. Case has endured a series of cell research, is entering the radio The university is reviewing its expense and job cuts this year because business by buying WWOW-AM, options with respect to the Halle of large current and projected budget 1360, in Conneaut for $200,000 space and has not decided what deficits that helped lead to the resigna- from Developing Radio LLC. The SLOW LEAK direction it will pursue, Ms. Chiu tion last spring of Dr. Edward Hundert sale of the 5,000-watt oldies station said. She declined to identify the See HALLE Page 4 is subject to Federal Communica- tions Commission approval, which As a strike wears on, Goodyear’s is expected within two months. John Marra Jr., president of Cause reduced production, lagging inventories Plus, said he’s a devout Catholic force retailers to push other products and will convert the station to a Visconsi explores 70-acre Christian programming format. He also said he hopes to buy a station Story by DAVID BENNETT ■ [email protected] closer to Cleveland next year. — Scott Suttell Euclid site for retail center WALTER & HAVERFIELD By STAN BULLARD Commercial Development Corp. PARTNER IN TOP 100 [email protected] owns the 70-acre site at 1121 E. 260th St. The St. Louis-based developer ■ Gary A. Zwick, a partner at Cleve- Visconsi Cos., a big retail developer earlier this year razed the former land law firm Walter & Haverfield based in Pepper Pike, is considering a Chase Copper & Brass — later PMX LLP, has been selected for the massive former factory site in Euclid as Industries Inc. — factory that was on second year in a row by Worth the home for a “super-regional” shop- the land. magazine as part of its “100 Top ping center. Removing the long-vacant plant — Attorneys” list. Mr. Zwick, who is “We’re in early due diligence,” said a hulking complex the size of 11 foot- one of two Ohio attorneys on the Gary Stevens, Visconsi vice president ball fields — was intended to improve list and the only from Northeast for development. “We don’t know the marketability of the parcel for Ohio, is chair of Walter & Haver- what the property could become. We companies that might want to field’s tax and wealth management thought it could become an intriguing construct industrial buildings. section. Worth said it “searched for property for reuse (and) we’re taking Scott Stubblefield, a Commercial those who can think beyond the the temperature of some (potential) Development vice president, con- numbers and routine of their daily anchor retailers.” firmed he has been in negotiations work” in making its selections. Mr. Stevens declined to identify with prospective buyers for the entire — Amy Ann Stoessel potential tenants or terms of the pro- site, but he declined to identify the posed purchase. See PMX Page 21 ISTOCKPHOTO / KRISTEN WILSON PHOTO ILLUSTRATION 50 SPECIAL SECTION 6 SMALL BUSINESS NEWSPAPER Got a hobby? If so, it can be a profitable business 71486 01032 ■ waiting to happen Page 11 Entire contents © 2006 0 PLUS: GRAND OPENINGS ■ ADVISER ■ & MORE by Crain Communications Inc. CCLB 12-11-06 A 2 CCLB 12/8/2006 4:45 PM Page 1 2 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 11-17, 2006 COMING NEXT WEEK CRAIN’S ON THE WEB Attracting women the focus of IT industry Professionals and educators in the field of information technology Health care data 700 W. St. Clair Ave., Suite 310, are joining forces to attract more women and girls to the growing ■ The 2006 Crain’s Health Care Directory is now Cleveland, OH 44113-1230 available for download in Excel spreadsheet Phone: (216) 522-1383 and ever-changing IT industry. “As you look at a more diverse Fax: (216) 694-4264 format. The directory, which includes listings of economy and diverse work force, I think you need the perspective www.crainscleveland.com more than 500 health care providers, fitness and of women in the workplace at all levels and in all industries, and wellness companies and other health-related Publisher/editorial director: the growth industries are going to be the technology industries,” organizations, costs $79. It can be accessed at Brian D. Tucker ([email protected]) www.CrainsCleveland.com/list. Editor: Mark Dodosh according to Dorothy C. Baunach, president and CEO of NorTech. ([email protected]) Managing editor: Scott Suttell Streaming news ([email protected]) REGULAR FEATURES ■ Get the Crain’s news ticker for your computer Sections editor: Amy Ann Stoessel desktop and keep up with breaking business and ([email protected]) Classified ...............18-20 List: Banks ..................17 Design editor: Kristen Miller industry-specific news as it’s posted — without ([email protected]) Editorial ........................8 Personal View................8 opening your browser. To download the ticker, go Senior reporter: Stan Bullard Going Places ...............10 Reporters’ Notebook....22 to www.CrainsCleveland.com/newsticker. ([email protected]) Reporters: Letter............................9 Stocks.........................22 David Bennett ([email protected]) Shannon Mortland ([email protected]) Jay MIller ([email protected]) John Booth ([email protected]) Shawn A. Turner ([email protected]) Designer/reporter: Joel Hammond ([email protected]) Research editor: Deborah W. Hillyer ([email protected]) Cartoonist/illustrator: Rich Williams Online editor: Jeff Stacklin ([email protected]) Associate marketing manager: Nicole M. Burke ([email protected]) Advertising sales director: Mike Malley ([email protected]) Account executives: Sarah Toth ([email protected]) Jeanne Cash ([email protected]) Adam Mandell ([email protected]) Art Bouhall Jr. ([email protected]) Classified advertising manager: Don Schwaller ([email protected]) Office coordinator: Toni Coleman ([email protected]) Western accounts manager: Ellen Mazen, 323-370-2477 ([email protected]) Western accounts assistant: Alexander Carlos, 323-370-2400 ([email protected]) Production manager: Craig L.
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