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www.crainscleveland.com Vol. 27, No. 49/$1.50 DECEMBER 4 - 10, 2006 LATENEWS GROOVY, BABY ■ RETRO CANDY BIZ EMINENT DOMAIN PUT ON TRANSLATES INTO BACK BURNER UNTIL ’07 SWEET SUCCESS FOR ■ The Ohio Legislature won’t be taking up eminent domain until the TRIO. PAGE 17 new session in January, a victim of a busy legislative calendar dominated by the state capital appropriations budget. State Sen. Timothy Grendell of Chesterland said early last week that he was preparing eminent domain legislation for the current lame-duck session. The legislation would have included a constitutional amend- Condos in offing for Public Sq., Flats ment ballot issue that would have restricted the ability of the state of Howells & Howells LLC, in Howells plans to have one-, two- and and its cities to acquire private Park Bldg., former marina lined up for conversion describing his plans to convert the three-bedroom units costing upwards property. However, after Sen. nine-story Park Building into 26 of $200,000. Grendell met last Thursday with By STAN BULLARD on Scranton Road in the Flats will be for-sale condominiums and to add a The plan calls for the adjoining the Senate leadership, his office [email protected] redone as condominiums under 10th floor of penthouses to the struc- Southworth Building to become two e-mailed that the Legislature plans two different developers are ture at 140 Public Square. floors of attached indoor parking would not be taking the issue up The Park Building, a century-old pursuing. The building has beautifully pre- garage serving the Park Building. The before the end of the year. office building with shuttered upper “We’re working on a real gem served brass elevators, intricately craft- Southworth’s upper floors will be — Jay Miller floors on Public Square in downtown here,” said Matt Howells, a construc- ed terrazzo floors and first-floor retail, developed later as more residences or CHINESE DELEGATION TO Cleveland, and a one-time marina tion manager and managing partner all of which will be retained. Howells & See CONDOS Page 28 MEET WITH OHIO FIRMS ■ A delegation of 70 Chinese business and government leaders will be in Cleveland today and Tuesday to meet with Ohio compa- Fate unclear nies that will try to sell the Chinese group on doing business in Ohio. The event, at the Intercontinental for cluster Hotel in Cleveland, features Chinese vice ministers Ma Xiuhong and Zhang Qiong, along with more of remaining than 30 Chinese industrial companies. The event is organized by the World Trade Center Cleveland. In Tops stores addition to Cleveland, the Chinese representaives also will be visiting By JOHN BOOTH Seattle and Washington, D.C. [email protected] — Shawn A. Turner SURVEY: OHIO IN NO. 1 As Tops prepares to check out of Northeast Ohio for good, the SPOT TO BE COMPETITIVE future of more than one-third of its ■ After a one-year evaluation of remaining stores remains undeter- 100,000 U.S. manufacturers, mined just four days before their Ohio ranked first in the country scheduled closing. among states best positioned Tops’ parent company, Royal to be competitive in a global Ahold N.V. of Holland, announced in economy, according to findings by July it was leaving the Ohio market independent industry research MARC GOLUB and seeking to sell its remaining group eMvoy of Chicago. The Jeffrey Ramsey (left), executive director of the Detroit Shoreway Community Development Organization, and stores here. Deals for 21 of those 46 group scored manufacturing Matthew Zone, Ward 17 councilman, are among those promoting the development of the Gordon Square stores have been announced, and companies in each state, weighing Arts District. The effort includes the planned reopening of the Capitol Theatre (background). unsold stores are scheduled to close such factors as company size, at 3 p.m. this Friday, Dec. 8. ISO certifications, technological Hilco Real Estate LLC of North- innovations and web site content. brook. Ill., lists 12 Tops markets in — David Bennett SUPPLYING DEMAND Northeast Ohio for sale on its web site, www.hilcorealestate.com. Four MEDICAL MUTUAL PLAN Leaders behind resurgence of near West Side’s Gordon Square of those stores were closed in 2005. INCLUDES SUMMA AGAIN The listing would seem to indicate ■ People covered by health confident in its viability as an arts, nightlife destination that no buyer has been found for the insurance from Medical Mutual of other eight stores that still are operating, though Tops spokeswoman Ohio Inc. once again can access By JAY MILLER “When people see the for the Near West Theatre and a health care through Akron’s Tracy Pawelski cautioned against [email protected] Gordon Square Arts renovated Cleveland Public that conclusion. Summa Health System. Medical Theatre. All of it would be capped Mutual and Summa agreed on a District, they’ll know where “They’re being brokered in a he Gordon Square Arts off by the reopening of the different way” than other stores, Ms. new contract that will begin Jan. 1. District isn’t ready to rival they are.” historic Capitol Theatre as a sort- The two organizations canceled Pawelski said. “It should not be Broadway in New York or – Matthew Zone, councilman, of West Side version of the Cedar- their contract two years ago after assumed that there are not prospec- Cleveland’s Playhouse Ward 17 Lee Theater, which shows inde- tive buyers for those stores as well.” unsuccessful negotiations. Medical TSquare as a center of the arts, but pendent and alt-Hollywood films. Mutual has about 170,000 Those eight stores range in size neighborhood planners believe they are in striking “There’s a lot of unmet demand on the West Side,” from 47,475 to 74,310 square feet and members in Summit, Medina and th distance of making the intersection of West 65 Street said Jeff Ramsey, executive director of the Detroit have lease agreements expiring Portage counties. — Shannon and Detroit Avenue the focal point for the arts and Shoreway Community Development Organization, a Mortland between 2011 and 2023. The smallest nightlife on the city’s West Side. nonprofit that is spearheading the arts district effort. store is in Ashtabula; the largest is a In the next 18 months, neighborhood planners Detroit Shoreway owns the Gordon Square Arcade, leased location on East Waterloo Road and fundraisers anticipate the opening of at least which houses the Capitol Theatre. four new eateries, a second art gallery, a new home See GORDON Page 12 See TOPS Page 28

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2 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 4-10, 2006 COMING NEXT WEEK COMING NEXT YEAR

More than a hobby Work & Play Whether it’s breeding Cecropia moths or selling scrapbooks and Do you have an innovative home 700 W. St. Clair Ave., Suite 310, Cleveland, OH 44113-1230 comic books, hobby-based entrepreneurs figure out how to turn office, or do you know someone Phone: (216) 522-1383 a leisurely pastime into a business venture. These business who has found an interesting way Fax: (216) 694-4264 owners have not only found their niche in the marketplace, but to incorporate a work space into www.crainscleveland.com they’ve also cashed in on their favorite hobbies. Find out more their home? If so, tell us about it for Publisher/editorial director: Brian D. Tucker ([email protected]) about their unique endeavors in our monthly Small Business our debut Work & Play section, Editor: Mark Dodosh section. scheduled for Jan. 22. E-mail ([email protected]) sections editor Amy Ann Stoessel Managing editor: Scott Suttell ([email protected]) REGULAR FEATURES at [email protected] or call Sections editor: Amy Ann Stoessel 216-771-5155 with tips on people ([email protected]) Classified ...... 26-28 Reporters’ Notebook....30 Design editor: Kristen Miller who have home offices that are the Editorial ...... 10 Stocks...... 30 ([email protected]) Senior reporter: Stan Bullard envy of the neighborhood. PHOTOS.COM Going Places ...... 18 Tax Liens...... 16 ([email protected]) Letters ...... 10-11 The Week ...... 30 Reporters: 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

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Associate marketing manager: Nicole M. Burke ([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. Mackey ([email protected]) Production assistant: Steven Bennett ([email protected]) Graphic designer: Kristen Wilson ([email protected]) Receptionist: Going exactly by the book Jodi Stirtmire ([email protected]) Billing: Susan Jaranowski, 313-446-6024 is not exactly smart. ([email protected]) Credit: Donna Meeks, 313-446-6097 ([email protected]) Circulation manager: Flexible answers from a leading business bank. Erin Miller ([email protected]) Business is hard. It’s competitive. And the rules keep changing. Customer service manager: Obviously, you can’t win the game with your nose in a rulebook. You’d Julia Stanley ([email protected]) think more banks would understand this. At Comerica, we take it play Crain Communications Inc. by play. Nearly 150 years of experience have taught us to look at each Keith E. Crain: Chairman Rance Crain: President situation individually. To be flexible. To put our faith in people and Merrilee Crain: Secretary Mary Kay Crain: Treasurer ideas as well as numbers. Because we understand the importance of William A. Morrow: Executive vice president/operations enduring relationships, we respond quickly—more quickly than other Brian D. Tucker: Vice president banks can—and we never rely on off-the-shelf thinking. So whether you Robert C. Adams: Group vice president need help with lines of credit, business deposit capture, business technology, circulation, manufacturing Dave Kamis: succession planning, or company buyouts, call Comerica today. Vice president/production & manufacturing Patrick Sheposh: Corporate circulation director

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DECEMBER 4-10, 2006 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 3 INSIGHT Munsell, bio FOCUS ON THE firm team FUTURE on deal for Chicago-based bank, with aggressive growth goals in Cleveland, has Maxus land possible IPO in sight Real estate investor leads purchase of 72 acres in Concord Township, sells 46 acres By SHAWN A. TURNER [email protected] and three buildings to Ricerca Biosciences

Propelled by strong loan demand By STAN BULLARD and aggressive growth goals in mar- [email protected] kets including Cleveland, ShoreBank Corp. of Chicago is thinking IPO — It’s in with the new and out with the old to the tune of though a public sale of stock is far millions of dollars at the southwest corner of the state Route from imminent. 44 and Interstate 90 interchange in Concord Township. ShoreBank, which nearly has In a complicated set of transactions, Ricerca Biosciences doubled its loan portfolio in Cleveland LLC has acquired its three-building headquarters complex since 2003, is considering a $100 at 7528 Auburn Road and Beachwood real estate investor million initial public offering of stock Mark Munsell has snared an adjoining 26 acres for future by early next decade, bank officials development near the interchange that serves the fast- said. Such a move would help Shore- growing Lake County suburb. Bank reach its stated goal of making $2 The deal also spelled the last bye-bye for Maxus Energy, billion in loans annually by 2013. a company formerly known as Diamond Shamrock Corp. In 2005, the bank companywide that moved its headquarters from Cleveland to Dallas amid made $410 million in loans, said much fanfare in 1979. Maxus sold the 72-acre site of the Stephanie McHenry, president of Ricerca complex Nov. 22. ShoreBank’s Cleveland region. In Fred Herrera, a CB Richard Ellis vice president, said he addition to Cleveland and Chicago, sold the land for Maxus because it wants to focus on its ShoreBank has banking operations energy business and shed the last of its real estate here. in Detroit and Ilwaco, Wash. Auburn Road Development LLC, an investment partner- “Banking, so much, is a function of ship formed by Mr. Munsell, purchased the 72-acre parcel capital,” Ms. McHenry said. “If we’re from Maxus and bought from a California-based trust the to get up to $2 billion in loans a year by three buildings on the site. Mr. Munsell’s partnership then 2013, then we have to grow our capital sold the buildings to Ricerca, along with the 46 acres on base in accordance with that.” which the buildings sit, Mr. Herrera said. He declined to Jaime Peters, an equity analyst disclose the sale price or the name of the trust. with investment research firm Ricerca, which develops drugs and aids in pharmaceuti- Morningstar Inc. in Chicago, agreed cal testing, purchased the complex to control its own prop- that the bank likely will need to go erty fate. public to make its lending target. Ricerca general counsel Tim Tinkler said the company “It’s not a big enough bank right decided it was a good time to buy the buildings rather than now to do $2 billion,” Ms. Peters exercise an option to purchase the buildings when their said. “The easiest way is to tap the equity markets.” See RICERCA Page 29 George Surgeon, ShoreBank’s chief financial officer, said last month that an IPO would begin with private sales THE WEEK IN QUOTES of stock to investors who would be told the public stock sale would happen by 2013, according to a report in Crain’s “When people see the Gordon Chicago Business, a sister publication Square Arts District, they’ll know of Crain’s Cleveland Business. The RUGGERO FATICA newspaper quoted Mr. Surgeon as ShoreBank Corp.’s Cleveland region, led by president Stephanie McHenry, will play a key role where they are, like Greenwich saying ShoreBank’s board will decide in helping the banking company meet its goal of a $2 billion loan portfolio by 2013. The bank See PUBLIC Page 14 is considering a $100 million IPO down the road to assist in its growth. Village in New York City or the Short North in Columbus.” — Matthew Zone, Cleveland City Councilman, Ward 17. Page One Violence, teen pregnancy top foundation head’s list “If Ohio is going to become the alternatives for them,” ‘Silicon Valley of alternative energy,’ CEO Richard meets problems head on, starting with gang leaders he said. “We have got to shut off this pipeline of it is necessary to consider alterna- By SHANNON MORTLAND year-old Mr. Billings was working with the babies having babies.” [email protected] foundation and Cuyahoga County to stem In the past, about 60% tives and their potential economic gang violence in Greater Cleveland. He of the $40 million in flex- and environmental impacts.” If something isn’t done about gang wants to rekindle that partnership, and he ible dollars the founda- — From a Letter to the Editor. Page 10 violence, former Crips gang leader Anton believes Mr. Richard is just the guy to get him tion distributed each “Twon” Billings said, more young people started. Richard year went to submitted will die in Greater Cleveland. The foundation has revised its role in proposals, while only That’s where Cleveland Foundation Greater Cleveland and now is focused on 40% was reserved for initiatives or projects “We have built this reputation that president and CEO Ronn Richard comes in. identifying and solving Greater Cleveland’s the foundation sought out, said Robert Mr. Richard is one of the first people Mr. problems — including social issues — in- Eckardt, the foundation’s vice president for a person can come to us with any Billings called when he got out of jail in stead of largely financing submitted grant programs and evaluation. Those ratios now silly request and we can get it October on charges of kidnapping, proposals, Mr. Richard said. Two of the foun- have flip-flopped, he said. robbery, burglary and impersonating a dation’s top priorities are gang violence and In commenting on the change, Mr. done.” police officer — all of which Mr. Billings teen pregnancy. Richard said: “We’re really proud of what — Nick Marra, co-owner and president of Sugar claims are unwarranted. “We have to understand why kids are we’ve done in economic development. But if Memories LLC, which does business on the Internet Before he was arrested in June, the 36- joining gangs and have to put in place See FOUNDATION Page 29 as Groovy Candies. Page 17 CCLB 12-04-06 A 4 CCLB 12/1/2006 11:41 AM Page 1

4 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 4-10, 2006

For assistance with your real estate Early shopping returns shine bright in Cleveland or in other parts of the United States, contact: National Retail Federation reports increase in spending; FAST SHOPPING FACTS competition with online sites has retailers getting creative A look at the post-Thanksgiving shopping weekend: By JOHN BOOTH Playmatters, a local four-store toy ■ Terry Coyne [email protected] chain, says his season is off to a good 140 million shoppers, down 3.4% start thanks to factors that include from foot traffic on last year’s post- Senior Vice President The balmy weather of Thanksgiving the recent warm weather, an Thanksgiving weekend (216) 453-3001 weekend has given way to cooler increased tendency for people to ■ Shoppers spent an average of temperatures, but area retailers say patronize local businesses, and even $360.15, up about 19% from last www.TerryCoyne.com they hope the good start to the holiday the timing of Hanukkah, which this year’s $302.81 average shopping season means things will year begins Dec. 16. continue to heat up in December. “It impacts a lot of East Side busi- SOURCE: NATIONAL RETAIL FEDERATION According to the National Retail nesses,” Mr. Ziegenhagen said. “It’s Federation, more than 140 million far enough from Christmas to have shoppers went out buying on the its own full identity, but it’s close November are “into very strong post-Thanksgiving weekend, and enough to Christmas to feed off the double-digit growth” compared to 1350 Euclid Ave., Suite 300 • Cleveland, Ohio 44115 • (216) 861-3040 last season, Mr. Ziegenhagen said, www.grubb-ellis.com spent an average of $360.15, up energy of the Christmas shopping nearly 19% from last year’s $302.81. season.” and that’s directly attributable to Michael Ziegenhagen, owner of Playmatters same-store sales for more shoppers. “The average transaction (amount) doesn’t really change dramatically,” he said. “When sales are up, it’s because traffic is up.” Getting shoppers to browse in person rather than via computer mouse is an increasing challenge. The National Retail Federation’s numbers reflected a 3.4% drop in foot traffic from last year’s Thanks- giving weekend. A recent America Online/Zogby poll found Cleveland- area consumers who shop on the web will spend an average of $577.31 — roughly 47% of their overall gift budget — online this holiday season. To counteract that trend, Westfield Great Northern Mall in North Olmsted is trying to entice shoppers with a promotion that “pays” them one Dream Dollar for every real dollar spent at the mall through Dec. 9. The Dream Dollars can be used to bid on items ranging from Westfield Business-efficient gift cards to a weeklong vacation in Cancun in a Dec. 10 auction at the mall. “Really, the reason we’re doing it is to get people back to the mall this season,” said mall marketing director is now Annie Dorsey. “It’s really a way to thank people for coming out (and) shopping early.” It seems to be working: Ms. Dorsey says traffic is up and mall cost-efficient. officials are projecting 2 million shoppers will visit during the month of December, up from 1.5 million in Spend less, and get more productive, with a feature-rich The complete December 2005. Tower City Center general manager bundle of communications tools for small business from small business bundle for under of retail Lisa Krieger said retailers in the new AT&T. For less than $95 a month, you’ll get the downtown shopping center reported “good traffic and good sales” unlimited local and nationwide calling, high-speed Internet compared with last year, and that and Unified MessagingSM — a service that consolidates $ Thanksgiving weekend’s unseason- 95/month ably warm weather brought out more messages from your email, fax, office phone and wireless shoppers than usual. phone into a single mailbox. All consolidated onto a single An 18% savings But without a big department for the first year store to offer price-slashing bonan- bill and backed by the most complete and secure network zas, and with a mixed-use status that of the new AT&T. To order, call your local AT&T small limits its hours of operation, Tower City relies on other methods to bring business expert at 1-888-ATT-8339 or go to att.com/essential. buyers inside. “We have a very large office outreach program where we communicate with many of the companies downtown,” Ms. Krieger said. “We provide them with information on sales, specials, private sales and advance notice of sales. We also do it with downtown hotels, and we also work closely with the urban- ites who live downtown.” ■

Volume 27, Number 49 Crain’s Cleveland Busi- ness (ISSN 0197-2375) is published weekly at 700 West St. Clair Ave., Suite 310, Cleveland, OH 44113- att.com/essential 1230. Copyright © 2006 by Crain Communications Inc. Periodicals postage paid at Cleveland, Ohio, and at additional mailing offices. Price per copy: $1.50. POSTMASTER: Send address changes to Crain’s $95 Bundle Offer Cleveland Business, Circulation Department, 1155 — Available to businesses with 1–10 lines. Promotion requires one-year term. Rate specified is for first line only. Taxes and Gratiot Avenue, Detroit, Michigan 48207-2912. other charges extra. For details of additional charges, restrictions and requirements, call 888-288-1405 toll-free. Long Distance provided (888)909-9111. by AT&T Long Distance. AT&T Yahoo!® High Speed Internet Service Business Edition provided by AT&T Internet Services. AT&T Unified Messaging provided by AT&T Messaging. ©2006 AT&T Knowledge Ventures. All rights reserved. AT&T is a registered trademark of AT&T Knowledge Ventures. REPRINT INFORMATION: 800-290-5460 Ext. 180 CCLB 12-04-06 A 5 CCLB 11/30/2006 9:15 AM Page 1

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6 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 4-10, 2006 Auto supplier to add to Mentor operation Business at By STAN BULLARD “Recognizing the importance of the its existing building at 8229 Tyler Blvd., the operations early next year in [email protected] company to the city, we offered them tax abatement was not a consideration Mentor. Worthington has been in Omega on a Mentor incentive grant,” Mr. Traub as an incentive, Mr. Traub said. Mentor since 1966. Worthington Precision Metals Inc., said. “We received a call Nov. 10 Mr. Traub said Worthington plans Gale Group’s Business and Com- a supplier of machined parts to the they’re moving the jobs to Mentor.” to move 40 machines valued about pany Resource Center puts Worthing- track with auto industry, has opted to keep its Under an agreement Mentor City $8 million to its Mentor plant from the ton’s sales at $77 million in 2005. 160-job Mentor plant open and to shut Council adopted Nov. 9, the company plant in Tennessee. He also said he Worthington is a portfolio company of a 50-employee plant it operates in plans to bring another 50 jobs and was told by Worthington chief finan- Veritas Capital, a private equity firm in Franklin, Tenn. about $2 million in payroll to the city cial officer Leonard Kadlub that the New York, according to Mr. Traub and new name Worthington’s decision represents in the near future, Mr. Traub said. In company has notified employees in the Veritas web site. a case of challenge posed and chal- turn, the city plans to provide Franklin of its plans to close there. Do not feel sorry for Franklin By DAVID BENNETT lenge met for the city of Mentor. Worthington with annual grants over However, Mr. Kadlub was mum about despite the pending loss of Worthing- [email protected] Ronald Traub, the city’s community a 10-year period. If the company the company’s plans when contacted ton’s plant. development director, said the meets its job-creation forecast, the by Crain’s. The city is a suburb of Nashville, 45 For 100 employees of bankrupt company told Mentor officials early grants would total about $540,000, “We’re a private company. We miles away. Franklin also is destined in Omega Pultrusions Inc., the last last month it would close either the according to Mr. Traub. refrain from any kind of public discus- two years to become the U.S. head- month has been business as usual at Mentor plant or the Franklin plant. The grants will be based on the sion,” Mr. Kadlub said. quarters of Japanese automaker Nis- the production plant on South Chilli- The action is in line with the consoli- company’s payroll over the next 10 Tom Thielman, Mentor economic san, after a building is constructed for cothe Road in Aurora, with three shifts dation trend among suppliers to the years, Mr. Traub said. Because the development coordinator, said the city it in the city, according to Expansion producing a core line of window and ailing U.S. auto industry. company plans to add equipment to believes Worthington will consolidate Management magazine. ■ door frames. The only way a passerby would know anything is different at the plant is a sign on the door that reads “Composite Technologies of America Inc.” — the company formed by new Omega owner Resilience Capital Part- Introductory APY ners to run the business. Ronald Cozean, president and CEO of Composite Technologies, said the 100,000-square-foot plant has been %* running without interruption to fill orders for existing Omega customers, including window and door manufac- turer Andersen Corp. That’s considerably better news than employees faced when Omega’s 5.00 parent, Omega Polymer Technologies For 180 days. $10,000 minimum balance. Inc., filed for Chapter 11 protection Business Access Money Market account from creditors in U.S. Bankruptcy Court last Aug. 21 soon after selling a Pennsylvania subsidiary for $4.6 million. In the first week of September, Omega Polymer notified the state it planned to shutter the plant and lay off Your working capital can be at least 60 of its employees. Two weeks later, on Sept. 21, Resilience Capital, a Cleveland private equity firm, acquired the struggling plastics maker. To date, Composite Technologies, which began produc- working harder. tion under its own banner Oct. 24, has employed all 100 former Omega workers. Mr. Cozean said Resilience officials developed a plan to keep the plant operating without interruption. Mr. Cozean previously served as a member of Resilience’s operating group, which supervises the firm’s portfolio of 12 companies. That list includes Air Enterprises, an Akron- based maker of industrial air handling systems that Resilience bought out of bankruptcy last year. Steve Rosen, managing partner of Resilience, said the firm’s long-term strategy is for Omega to become more efficient in its manufacturing and inventory controls to better meet chal- lenges such as high raw materials costs. Mr. Rosen said Omega, like Open a FirstMerit Business Access Money Market account today. many smaller manufacturers, was “underinvested” in the research-and- The FirstMerit Business Access Money Market Speak with one of our Business Service Center specialists about development and engineering areas. account allows you to get more for your money. opening a Business Access Money Market account today. Call us Resilience also plans to expand the It gives you the easy access to your funds that you toll-free at 1-888-283-2303, or visit us online at firstmerit.com. uses for Composite Technologies’ need and the high yield that you want. products, Mr. Rosen said. Typical uses for Omega Pultrusions’ FirstMerit Bank. products are liners for residential Here’s what else it gives you: The bank for owner-managed business. doors and windows as well as for • Interest on all balances commercial freezers and truck trailers. • Check writing capability Mr. Rosen said there are untapped • Online Banking access markets, including some within the • Security of FDIC insurance aerospace and automotive industries, where “anything that is metal can be replaced by a strong, high-composite The FirstMerit Business Access Money Market account gives you polymer.” one more powerful feature. A FirstMerit Business Banker. Someone Because Composite Technologies who’s dedicated to help you achieve long-term financial success. has been operating for only about a month, the company hasn’t yet determined its R&D budget, Mr. Rosen said.

* Introductory APY of 5.00% for all Business Access Money Market accounts with balances greater than $10,000 and up to $2,000,000. Introductory period is for 180 days, after which the APY is subject to change at our It does plan to spend $500,000 on discretion. Offer applies to money not currently on deposit at FirstMerit. New FREE Business Checking, Business Checking, Business Checking Plus or Business Option Checking account required. Certain fees may apply. See fee schedule for details. equipment upgrades at the Aurora plant. ■ CCLB 12-04-06 A 7 CCLB 11/30/2006 9:16 AM Page 1

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alltelbusiness.com Largest Network Claim: Based upon analysis by an independent research company in October 2006, which compared marketed coverage patterns at the time of their creation of each wireless carrier without allowance for variations due to electrical interference, customer equipment, topography & each carrier’s translation & defined preferences of their own internal engineering data. Additional Information: The RIM & BlackBerry families of related marks, images & symbols are the exclusive properties & trademarks of Research 1-877-BIZ-CNTR In Motion Limited—used by permission. BlackBerry is registered with the U.S. Patent & Trademark Office & may be pending or registered in other countries. All other marks, images, names & symbols are the exclusive properties or trademarks of their respective owners. Screen images are simulated. ©2006 Alltel. All rights reserved. CCLB 12-04-06 A 8 CCLB 12/1/2006 3:26 PM Page 1

8 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 4-10, 2006 Building on a ‘billion-dollar brand’

“Cleveland was the next logical New owner of former gospel radio station hopes market for us,” Mr. Karmazin said. “I another religion — ESPN — brings him success felt Cleveland sort of combined that work ethic I experienced in the Midwest with the East Coast edge By JOHN BOOTH “(We) have the ability to use the logo that New York has.” [email protected] of a billion-dollar brand.” The Cleveland market also lacked a Mr. Karmazin — the 31-year-old fully branded ESPN station: The sports It has a thousand-watt radio signal son of Mel Karmazin, CEO of Sirius broadcasting network had a program- that reaches 20 miles at most and a Satellite Radio and former president ming affiliation with WKNR-AM, 850, federally regulated broadcast day of Viacom and Infinity Broadcasting but shifted its Northeast Ohio pres- that’s currently shorter than its down — in July bought the station for $2.5 ence to a branding agreement with Mr. time. million from D & E Communications Karmazin. For now, the station’s pro- Craig Karmazin of WWGK-AM, 1540 Still, Craig Karmazin, owner of Inc. Good Karma, founded by Craig gramming all comes out of Bristol, and president of Good Karma Broad- WWGK-AM, 1540, and president of Karmazin in 1997 and based in Conn., which is ESPN’s headquarters, casting is banking on the reputation Good Karma Broadcasting, is think- Beaver Dam, Wis., owns eight other although WWGK’s staff produces three and logo of ESPN to build a formida- ing big when it comes to the former stations, which are located in local SportsCenter updates per hour. ble player in the Northeast Ohio gospel station then known as WABQ. Wisconsin, Illinois and Florida. Five “In the coming months we’ll hire sports radio market. “We’re a local station that has the are sports stations, and four are a sales staff and a programming MARC GOLUB power of ESPN behind it,” he said. ESPN-branded. department,” Mr. Karmazin said. “We’ll be adding local sports talk shows seven days a week.” Play-by-play sports coverage is in the future, he insisted, although the focus now is on building an audience and advertising for the daylight hours. “Once we have our product in place, we’ll aggressively market it,” Mr. Karmazin said. “We’re going to have a high-profile studio. We’re big believers in having a street presence.” The Cleveland market is the largest in the Good Karma stable, and Mr. Karmazin anticipates the station will have a positive cash flow within 18 months. Because WWGK’s Federal Commu- nications Commission license limits it to daylight-hours broadcasting, the station’s on-air day currently lasts from about 7:15 a.m. to 5 p.m. For now, that means Mr. Kar- mazin’s own weeknight show — a one-hour broadcast he has done with longtime friend and Good Karma vice president Steve Politziner — can’t be heard on the Cleveland airwaves. Mr. Politziner works from the company’s station in West Palm Beach, Fla., while Mr. Karmazin chats from either the WWGK studio or his own downtown Cleveland apartment. Both men also host separate weekend shows. “It’s what we always wanted to do,” Mr. Karmazin said, recalling a childhood spent creating fake broadcasts that involved their parents and friends. “We have tapes of ourselves at 10 years old doing this. “My goal was always to find a job I’d do for free, and from day one, that’s what this has been.” ■

Our fl exible, convenient fl ight schedule. STUFF Just another reason business travelers love us. Down on high costs Beachwood chamber director speaks in New York Times Tom Sudow, executive director of the Beachwood Chamber of 14-day Advance Purchase Last-minute Walkup Fares Commerce, was one of the experts quoted in a Nov. 30 New York From Cleveland From Cleveland Times story about how entrepre- $59 to Baltimore/Washington (BWI) $118 to Baltimore/Washington (BWI) neurs and many small business $109 owners struggle with the high cost $59 to Chicago (Midway) to Chicago (Midway) of health insurance. $71 to Nashville $108 to Nashville Mr. Sudow’s Beachwood group is part of the Northern Ohio Area Fares are one-way with a 14-day advance purchase and do not Fares are one-way and do not include a federal excise Chambers of Commerce, which include a federal excise tax of up to $3.40 per takeoff and landing. tax of up to $3.40 per takeoff and landing. includes 130 Ohio chambers with more than 40,000 members, all of them with access to a discounted Southwest Airlines has 18 daily fl ights to Baltimore/Washington (BWI), plan through Anthem Blue Cross and Blue Shield. Chicago (Midway), and Nashville for business. With our great low fares, high “He suggested that the first thing frequency service, ontime fl ights, and friendly Customer Service, the next time you travel a would-be entrepreneur do, espe- cially if he has some sort of health for business, fl y Southwest. The Offi cial Airline of Business. condition, is to sit down with many different insurance agents and Fares do not include airport-assessed passenger facility charge (PFC) of up to $9 and a federal September 11th Security Fee of up to $5 one-way per person. Published service only. Seats limited come up with a creative plan that on advance fares. 14-day advance fares: Tickets are nonrefundable but may be applied toward future travel on Southwest Airlines. Fares are subject to change until ticketed. Any change in itinerary fits his needs,” the paper notes. may result in an increase in fare. Fares are combinable with other Southwest Airlines fares. If combining with other fares, the most restrictive fare’s rules apply. ©2006 Southwest Airlines Co. CCLB 12-04-06 A 9 CCLB 11/30/2006 9:11 AM Page 1 CCLB 12-04-06 A 26 CCLB 12/1/2006 8:53 AM Page 1

26 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 4-10, 2006

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DECEMBER 4-10, 2006 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 27 REAL ESTATE LUXURY PROPERTIES Coming

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C L A S S I F E D C O N T I N U E D O N P A G E 2 8 ➤ CCLB 12-04-06 A 28 CCLB 12/1/2006 2:45 PM Page 1

28 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 4-10, 2006 Condos: Developer unconcerned about hectic Public Square site

continued from PAGE 1 Hip to be on the Square original maple floors the Public during rush hours and typically the down the hill from the Tremont offices, Mr. Howells said. Square condos will offer. He will outpost of panhandlers, may not be neighborhood and across the river Legislation is pending before Mr. Howells said he is negotiating have Progressive Urban Real Estate everyone’s dream home site. But Mr. from Tower City Center. Cleveland City Council to authorize with lenders for his project, but market the suites. Howells isn’t concerned. Riverside Landing would consist the Jackson administration to enter added he wouldn’t seek financial One suite already is taken inform- While he worries that high-end of three mid-rise buildings housing into a project agreement for the Park commitments until after receiving ally, Mr. Howells said, and another has buyers may have a hard time selling one-, two- and three-bedroom units, Building and a separate agreement approvals for his plans from the city. two bidders vying for it through word- their homes before committing to according to a briefing document for Riverside Landing, a plan to redo Mr. Howells said he hopes to of-mouth marketing. move downtown, he does not doubt Cuyahoga County commissioners the site of a marina at 2065 Scranton begin the conversion in earnest While it is a stunning thought to the value of the location. received last Thursday, Nov. 30, Road as housing. early next year. However, using its consider housing on Public Square, “The beauty of this thing is that it’s when they approved an application Among other things, the agree- own financial resources, Howells & it is a natural development in the a rare opportunity for someone to own for a $750,000 grant to clean up the ments would provide 15-year Howells is starting work before land- Historic Gateway Neighborhood a piece of the center of Cleveland,” Mr. Marina Bay site under the state’s property tax abatements to condo ing the bank loan. Interior wall studs east of the square. The Grant Build- Howells said. “These are super-unique Clean Ohio Assistance Fund. buyers. are visible on the Park Building’s ing, which sits on Euclid Avenue and have awesome detail.” The fund provides cash for environ- Councilman Joe Cimperman, second floor and painters who were only a few hundred feet from the mental cleanups and demolition of whose 13th ward includes downtown, stepping outside the building last Park Building, was converted to On the waterfront previously developed brownfield sites. said he supports both plans and Wednesday afternoon for smokes rentals three years ago. It borders Meantime, a development group Chris Ferchill, a project manager for expects City Council to adopt them. showed rehab work is under way. MRN Limited’s East Fourth Street led by the Ferchill Group in Cleve- Ferchill Group, said the county “Both are examples of Cleveland Mr. Howells said his company has neighborhood of rental apartments, land is starting to flesh out plans for summarized the company’s current people slugging it out to get it done pulled permits to create a model restaurants and the House of Blues. Riverside Landing, a $22 million, 88- plans correctly. However, he refused here and do projects in the middle of suite that he hopes to use soon to Busy Public Square, the haven of unit residential complex at the site of to discuss the plans in more detail everything,” Mr. Cimperman said. display the granite countertops and hundreds of mass transit commuters the former Marina Bay marina, just because they are still being refined. ■

Mr. Krakomperger did not return Hilco Trading Co., which also runs a phone message seeking comment Hilco Merchant Resources LLC, the Tops: Futures undetermined for 17 stores Friday morning. company overseeing the final days of That leaves 17 stores with no operation at the Ohio Tops stores. continued from PAGE 1 additional buyers when we can,” she Marketplace bought the Richmond determined destiny. “They basically help us manage in Akron. said. Heights Tops, and the Wooster- Asked about the eight still-open the liquidation and the sales,” Ms. Tops had indicated early last week Here’s how the Tops scorecard based Buehler’s supermarket chain stores listed for sale — and why Pawelski said. “Store fixtures and that agreements to sell several stores read at the time Crain’s went to press purchased the Tops in Brunswick. others from the as-yet unsold stable equipment are not part of the liqui- would be announced by week’s end, last Friday afternoon: Of the 46 Tops The Morning Journal in Lorain of stores are not on Hilco’s list — Ms. dation at closing locations. Because but Ms. Pawelski said last Friday, stores operating in Northeast Ohio, reported last Thursday, Nov. 30, that Pawelski said, “The transactions are these stores are being marketed as Dec. 1, that no new developments 18 were bought by Pittsburgh-based Steve Krakomperger, owner of at different stages in the process, and supermarkets, those are part of the were imminent. Giant Eagle, which will turn four of the Apple’s markets in Lorain and they (Hilco) just weren’t needed” for assets that would accompany, in “Negotiations continue, and we those stores over to locally owned Elyria, will buy the Tops in Sheffield the other stores. most cases, the sale of the store to will announce agreements with Dave’s Supermarkets. Zagara’s Township. Hilco Realty is a business unit of another buyer.” ■ CLASSIFIEDS BUSINESS SERVICES BUSINESS OPPORTUNITY HIRE THE B2B COPY PRO I write collateral, direct mail, newsletters and more for industrial and commercial clients. Free consultation on first visit. Subscribe to The Spyglass Report: Ideas to grow your business using direct marketing. SPYGLASS DIRECT Crain’s Executive Recruiter

Jim DiFrangia (440-346-6249) www.spyglassdirect.com Senior Vice President, Operations NineSigma, Inc., a rapidly growing innovation sourcing firm serving Classified Ads Global 1000 companies is seeking a SVP/COO to provide leader- 2007 SALES GOALS ship and continued growth for its core operations including client REACHABLE? WORK! service delivery and IT. Ideal candidate should have experience in consulting or leading a MAKE SURE...Take the course on BUSINESS service delivery organization; must have ability to influence and lead FOR SALE others and a passion for innovation. Candidate must have bache- HIGH PERFORMANCE SELLING lor’s degree and 10 years management experience. Jan 8 or 9 Akron Restaurant Email your resume and interest to Mark Mizenko at mizenko@nine- Call Brad Withers (216) 548-8675 FOR SALE Custom Software Engineering sigmacorp.com. Visit our website for additional company information, www.ninesigma.com. Located in prestigious business Network Engineering and condo building downtown. Security ARE YOU Akron’s busiest restaurant/lounge. 12,000 sq. ft. with full liquor Network Monitoring and READING THIS? license, patio and party room. Disaster Recovery Best location in Akron.High This small ad space could volume, gorgeous throughout. Principles only. Buy property and Our mission is to create mutually bring BIG BUSINESS. business. Offered at $3 million. beneficial long term relationships To place your Contact Don Schwaller Can purchase business only. based on trust and respect Executive Recruiter ad at (216) 771-5172 Financial requested. 1-800-244-4241 [email protected] Fax inquires to (216) 221-5071 We Do I.T. Call Don Schwaller at 216-771-5172 CCLB 12-04-06 A 29 CCLB 12/1/2006 1:30 PM Page 1

DECEMBER 4-10, 2006 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 29 Foundation: Former gang leader sees value in engaging groups

continued from PAGE 3 find out everything.” this issue,” said Mr. Jones, who also for both the mother and the baby. “Philanthropy is becoming more we neglect the social issues while has spoken with Mr. Billings since While the county health board activist because it’s ever increasingly we’re trying to build on one end, it’s Using ‘street cred’ his release from jail. conducts reproductive health class- apparent that the changing role of going to be torn down by the unem- Earlier this year, with the help of a es in all grades in the Cleveland government in the last decade has in- ployed and unemployable folks on the $50,000 grant from the Cleveland Focus on teen pregnancy public schools and for seventh- and creased the demand on philan- other end.” Foundation and the county, Mr. Teen pregnancy also must be eighth-graders in eight inner-ring thropy,” Mr. Abbott said. “If you don’t Mr. Richard has spent the last Billings had formed a sort of security addressed, according to Mr. Richard, suburbs, Ms. Block said more must collaborate and build alliances, you three years laying the groundwork team that walked the streets, looking who said he has been meeting with be done. She said she welcomes the won’t make progress.” for such a change. The foundation for children and gang members who young, single mothers in Cleveland Cleveland Foundation’s help and But while the social issues are has identified Greater Cleveland’s were up to no good, often returning to figure out how to lower teen preg- hopes to meet with Mr. Richard in important, Mr. Abbott and Mr. five biggest needs — economic them to their parents and disposing of nancy. He said many teen girls get the next couple months to discuss Richard agree that economic issues development, public school drugs. Those actions kept kids out of pregnant because they have low self- the possibility of a partnership. can’t be ignored. Mr. Richard said the improvement, early childhood jail and gave Mr. Billings a chance to esteem and time on their hands. two foundations and many other orga- development, neighborhoods and mentor them and keep them out of Tonya Block, a supervisor with the Collaboration a key nizations will continue to support the housing, and arts advancement. trouble, he said. Cuyahoga County Board of Health, Mr. Richard said he wants to enlist Fund for Our Economic Future in He also passed out business cards, agrees. “Kids are prone to experi- other local nonprofits to focus on order to educate more Ohioans, create Getting down with gangs asking people to call him if there was ment when they’re home alone be- important issues in the city. Such jobs and retain and attract top talent. A senior staff of seven now focus- gang trouble in their neighborhood. tween 3 p.m. and 6 p.m.,” she said. collaboration already is done Mr. Richard said the Cleveland es only on projects on which the He said people felt comfortable talking “If we don’t put something in place through the Fund for Our Economic Foundation also remains committed foundation has initiated its involve- to him and often gave him tips they as a safety net ... we’re fighting this Future, an initiative backed by local to Case Western Reserve University’s ment, while three junior-level wouldn’t have shared with the police. battle we can’t move forward on.” nonprofit, public and private organi- West Quad project, a proposed 14- program officers handle the 700 Now that he’s out of jail, Mr. In Cuyahoga County, 27 out of zations to spur economic develop- acre research park on the former grant proposals submitted each Billings is looking to the county and every 1,000 teenage girls get preg- ment in Northeast Ohio. Mount Sinai Hospital campus, even year, he said. the Cleveland Foundation again for nant, which is right on target with The Cleveland Foundation also though it’s on hold because of the de- Mr. Richard also is in the process of help in resurrecting his anti-gang the national average, Ms. Block said. works closely with The George Gund parture earlier this year of Case presi- hiring someone to “help Cleveland program. He would like to create an However, that average is misleading Foundation when the two are asked dent Dr. Edward Hundert and medical look and feel more like a global city.” initiative in which gangs would because it includes statistics from to fund the same project, said David school dean Dr. Ralph Horwitz. Though that person will create a glob- participate in projects such as build- wealthy suburbs, where teen preg- Abbott, executive director of the “We’re trying to be as helpful to alization program, Mr. Richard said he ing homes or doing community nancy is less prevalent, she said. Gund Foundation. He said he wel- Case as we can be on that. We’re envisions bringing more foreign con- service-type work. In Cleveland, the problem is more comes more collaboration because hoping (the project) doesn’t die,” sulates to Cleveland and increasing “A lot of people don’t give them pressing, with an average of 193 of no one organization or person sig- Mr. Richard said. “I would hope the the number of foreign exchange opportunities,” Mr. Billings said. every 1,000 teen girls getting pregnant, nificantly can change Northeast whole city would be studying programs with high schools, colleges “These children basically need some- Ms. Block said. Teen pregnancy often Ohio and the government no longer whether we can have a research and government offices. body like the Cleveland Foundation leads to poverty and health problems can be counted on. triangle” like North Carolina. ■ In the meantime, he’s trying to get and the county commissioners. These a bird’s-eye view of Greater Cleve- children are looking for love.” land’s problems and how they’re Mr. Richard said the foundation intertwined. He said Cleveland’s hasn’t yet created any programs or designation as the poorest city in promised any money to stop gang America doesn’t come without a violence in Cleveland because it is host of other problems. waiting on approval for cooperation He has met with the heads of with city or county agencies. Cleveland’s 16 gangs to understand “I think it would be a little tough to why they exist and what can be done do anything significant without law to stop them. He learned that chil- enforcement,” he said. dren join gangs not because they However, collaboration could be want to but because they must for drawing closer. County Commis- self-preservation. A gang won’t mess sioner Peter Lawson Jones said the with a boy who belongs to a rival county is committed to stemming gang, he said. gang formation and violence. And it only gets worse. Mr. Billings Mr. Billings’ trouble with the law said gang protection leads to teen aside, Mr. Jones said the former gang pregnancy, prostitution, drugs and member remains the ideal candidate sexually transmitted diseases. To to tackle Cleveland’s gang problem join a gang, boys usually must sell because he has “street cred,” meaning drugs and girls typically must sleep young people and gang members with the boys and sell their bodies, know, respect and trust him. he said. As an “O.G.” or “original gang- “What Ronn Richard, the Cleve- ster,” which is what Crips leaders are land Foundation and myself are called, Mr. Billings said he still has doing can make a difference,” said power with local gangs even though Mr. Billings, who joined the Crips he has been an inactive member when he was 8 years old. “The police since 1991. cannot solve this problem. You need “We aren’t going to let a simple somebody that’s inside. I’m going to false start keep us from engaging in

Ricerca: Firm in charge of own fate

continued from PAGE 3 company into a growth corridor in leases expire in two years. the far eastern suburbs that diversi- “With a lease, you have to ask the fies its holdings beyond closer-in landlord for permission to change a suburbs and downtown Cleveland. wall or add a laboratory. Now we’re None of the parties would disclose in charge of our own destiny and how much money changed hands in we’ll be able to do anything that fits the deals. Lake County’s computer- the zoning,” Mr. Tinkler said. ized land records show deeds reflect- Owning the buildings and land ing the transfers, but don’t disclose also will make it easier to expand in how much was paid for the properties. the future, though Ricerca has no However, the sale clearly entails specific, immediate plans to do so, millions. Lake County values the Mr. Tinkler said. land and buildings at $10 million for Ricerca employs 235 people in the property tax purposes. complex, he said. Ricerca’s decision to commit itself The other part of the transaction to the site with ownership of its prop- puts a prime piece of developable erties “is a good thing,” said Carol land with highway visibility in the Luhta, a Concord Township trustee. hands of the investment group led She said the township is studying that by Mr. Munsell, president of Munsell area to ensure it develops in an attrac- Realty Advisors Inc. Mr. Munsell tive way, particularly because it abuts described the site as “a wonderful a new hospital that Lake Hospital piece of land.” Buying it puts his System plans to build in Concord. ■ CCLB 12-04-06 A 30 CCLB 12/1/2006 4:48 PM Page 1

30 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 4-10, 2006 THEINSIDER REPORTERS’ NOTEBOOK THEWEEK BEHIND THE NEWS WITH CRAIN’S WRITERS A number to call when school financing, the Mr. Riebe, 33, a KeyCorp employee, NOVEMBER 27 - DECEMBER 3 report calls for a discovered last spring he was nominated for smoke gets in your eyes more coherent and the Financial Executive of the Year award by The big story: KeyCorp sold its nonprime ■ 1-866-559-6446. structured system of the Institute of Management Accountants mortgage lender, Champion Mortgage of That’s the toll-free number created by the schools that spans and Robert Half International, a staffing Parsippany, N.J., in a pair of transactions. Cham- Ohio Department of Health that will receive from preschool to firm. But he had no idea how far along he pion’s $2.5 billion loan portfolio was sold to a unit reports of violations of the state’s new college. It also pushes was in the process — that is, until he was of HSBC Finance Corp. of Prospect Heights, Ill., no-smoking law. for more challenging asked to appear for a cover photo for the while its loan origination platform was bought by When the new law takes effect this academic standards, October issue of Strategic Finance, the an affiliate of Fortress Investment Group LLC, an Thursday, Dec. 7, places of employment and assessments and accounting group’s magazine. alternative investment and asset management public places, including bars and restau- graduation require- “At that point, you kind of thought some- firm based in New York. Terms were not disclosed rants, will be required to include that ments that are cou- thing was going on,” said Mr. Riebe, who is for either transaction. Key said it expects to take number on the “No Smoking” signs that pled with more prac- vice president and senior consumer product a net after-tax charge in the fourth quarter of $164 must be posted at all entrances. PHOTOS.COM tical teaching tools. manager in Key’s deposit product manage- million, or 40 cents per share, related to the sale Affected locations also will need to remove The Ohio Grant- ment department. of Champion. It anticipates pre-tax charges in ashtrays. makers Forum, which is the professional “But I didn’t 2007 of between $25 million and $30 million The department of health still is formulating organization for Ohio’s philanthropic know how many related to discarding the origination platform. rules to guide enforcement of the smoking community, said Ohio lawmakers also need cover shoots they ban, but it has posted a set of guidelines to identify, recruit and train teachers and do to be elusive,” New journey for Trek: Trek Diagnostics to help businesses comply with the law principals who are prepared to reach all he said. Systems Inc. of Brooklyn Heights, a provider of at www.odh.ohio.gov/alerts/ohiosmoking students and to ensure that all students have Turns out, Mr. clinical diagnostics, was acquired by Magellan ban.aspx. — Jay Miller quality public school programs that are held Riebe didn’t need to Biosciences, a maker of similar products based in to consistent standards. harbor any doubts. He the Boston area. Trek will become a subsidiary of Grantmakers give “Now we stand at a crossroads,” said was presented with the Magellan and will continue to serve customers guv-elect an agenda George Espy, president of the Ohio Grant- award last Monday, Nov. under the Trek band name. Trek president Mike makers Forum. “We can continue to make 27, at the University of Burke and other Trek executives will remain in ■ Even before he takes office, Governor- incremental changes and hope that the rest Akron. their current positions, and Trek’s 150 employees elect Ted Strickland is being urged by a of the world does not get too far ahead, or we “Ron sort of exem- in the United States and United Kingdom are group representing the philanthropic can make the five high-impact changes plifies all the charac- expected to stay with the company. The compa- community to put education at the top of to our school system and meet our respon- teristics we were nies have combined annual sales of $80 million his priority list. sibilities to our children and grandchildren.” looking for in an exemplary financial execu- and 300 employees. In a report due out this Friday, Dec. 8, the — Shannon Mortland tive,” said Paul Sharman, president and CEO Education Task Force of the Ohio Grant- of the accounting group that is headquartered Fisher will see what develops: Gov.-elect makers Forum lists five policy priorities for It all adds up in Montvale, N.J. For its award, the group seeks Ted Strickland announced that Lt. Gov.-elect Lee Mr. Strickland, state legislators and the Ohio to an award individuals with outstanding business ethics Fisher will be nominated to serve as director of Department of Education to consider in who have established themselves as leaders the Ohio Department of Development. The 2007. ■ By late August, Ron Riebe knew some- within their respective organizations, Mr. appointment promises to move Northeast Ohio In addition to addressing the issue of thing was up. Sharman said. — Shawn A. Turner up on the state’s economic development agenda. Mr. Fisher, a former state attorney general, is a lifelong Clevelander. WHAT’S NEW STOCKS $7M for Five Star: Five Star Technologies in Cleveland closed an investment round of $7.1 10 BEST PERFORMERS million in venture financing for continued development of its high-performance inks and disper- CLOSE WEEK’S 52-WK 52-WK sions that are used in electronics packaging and COMPANY 12/1 % CHANGE HIGH LOW assembly operations. The latest investment 1. Park-Ohio Holdings (PKOH) 17.15 8.07 21.36 12.72 round was led by Morgenthaler Ventures. Other 2. LNB Bancorp Inc. (LNBB) 16.98 3.28 19.73 15.88 investors include CTTV Investments (Chevron- 3. FirstEnergy Corp. (FE) 60.53 2.65 60.53 46.73 Texaco), Early Stage Partners, Industrial Tech- 4. Lamson & Sessions Co. (LMS) 21.48 2.63 32.80 19.82 nology Ventures and Reservoir Venture Partners. 5. OM Group Inc. (OMG) 46.50 2.45 59.75 16.86 6. Forest City Enterprises (FCEA) 58.32 2.32 58.32 36.26 Kicking around a stadium plan: Develop- 7. Hawk Corp. (HWK) 12.10 2.11 16.00 9.77 ers Scott Wolstein and 8. Cleveland-Cliffs Inc. (CLF) 47.77 1.86 55.18 31.39 Paul Garofolo unveiled 9. Ferro Corp. (FOE) 20.99 1.30 21.22 13.82 their plans for a 20,000- COMPANY: Keithley Instruments 10. DataTrak International (DATA) 5.11 1.10 11.63 4.05 seat stadium in northern Inc., Solon Summit County, along 10 WEAKEST PERFORMERS with proposals for two PRODUCT: Model KPCI-488LP Low adjacent shopping Profile GPIB Controller Interface CLOSE WEEK’S 52-WK 52-WK centers and a medical plug-in board COMPANY 12/1 % CHANGE HIGH LOW campus. The 450-acre 1. Olympic Steel Inc. (ZEUS) 25.27 -10.96 39.49 23.10 development would lie Keithley says the plug-in board, priced at 2. PolyOne Corp. (POL) 7.59 -10.92 9.89 5.86 along state Route 8 in Macedonia and Northfield $399, complements the company’s precision 3. Cleveland BioLabs Inc. (CBLI) 5.00 -9.91 6.00 4.17 Center Township. The project’s price tag is measurement instruments and helps test 4. Lesco Inc. (LSCO) 8.03 -9.27 18.17 6.70 estimated at more than $320 million, with the engineers reduce their testing costs. 5. Sifco Industries Inc. (SIF) 6.25 -7.68 7.35 2.94 stadium costing roughly $165 million. Financing To reduce switching costs, the plug-in 6. Jo-Ann Stores Inc. (JAS) 19.54 -7.52 21.26 10.98 would come from the Wolstein Group and bonds board’s driver library “is fully command 7. Preformed Line Products (PLPC) 32.01 -6.54 46.37 30.02 sold by the Summit County Port Authority. The compatible with Keithley, Capital Equipment 8. Goodyear Tire & Rubber Co. (GT) 16.80 -6.09 19.31 9.75 proposed stadium would sport a retractable roof Corporation (CEC), and National Instruments 9. Omnova Solutions Inc. (OMN) 4.73 -5.96 7.25 4.00 and would host a Major League Soccer expansion command sets, making it plug-and-play 10. Associated Estates Realty (AEC) 14.58 -5.94 16.50 8.90 team. compatible with existing applications,” according to the company. 10 MOST ACTIVE Locked in: The Akron plant of Lockheed Martin The new product provides complete soft- CLOSE WK’S VOL. 52-WK 52-WK will be the beneficiary of a $77.5 million Army ware support for Windows XP and 2000. COMPANY 12/1 (in thousands) HIGH LOW contract to provide additional mini-blimp Support also will be provided for the new 1. Goodyear Tire & Rubber Co. (GT) 16.80 15,112 19.31 9.75 surveillance systems for use in the wars in Iraq Microsoft Windows Vista operating system and Afghanistan. Lockheed Martin said its Persis- 2. Progressive Corp. (PGR) 22.49 11,773 31.23 22.18 upon its release next year. The plug-in board 3. National City Corp. (NCC) 35.77 10,416 38.04 33.26 tent Threat Detection Systems are equipped with also supports industry-standard VISA (Virtual sensors to provide continuous surveillance, 4. FirstEnergy Corp. (FE) 60.53 5,266 60.53 46.73 Instrument Software Architecture) libraries to 5. KeyCorp (KEY) 36.13 4,800 38.31 32.68 detection and communications in support of ensure compatibility with applications that coalition forces. 6. Parker Hannifin Corp. (PH) 82.03 4,036 88.00 65.16 use VISA. 7. OM Group Inc. (OMG) 46.50 3,565 59.75 16.86 For information, visit www.keithley.com/ 8. Sherwin-Williams Co. (SHW) 62.20 3,360 62.91 37.40 To keep up with local business news as it happens, products. visit www.crainscleveland.com. 9. Cleveland-Cliffs Inc. (CLF) 47.77 3,030 55.18 31.39 10. Diebold Inc. (DBD) 45.87 3,018 47.13 36.40 Send new product information to [email protected]. Source: FinancialContent Inc. CCLB 12-04-06 A 31 CCLB 11/30/2006 9:27 AM Page 1 CCLB 12-04-06 A 32 CCLB 12/1/2006 3:22 PM Page 1

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