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DETROIT BUSINESS MAIN 02-13-06 A 1 CDB 2/10/2006 6:31 PM Page 1 ® http://www.crainsdetroit.com Vol. 22, No. 7 FEBRUARY 13 – 19, 2006 $1.50 a copy; $59 a year ©Entire contents copyright 2006 by Crain Communications Inc. All rights reserved THIS JUST IN Pain medicine TCF Bank Michigan breaks ground for HQ The Detroit may keep jobs TCF Bank Michigan broke ground Thursday on its new, three-story, 60,000- in Ann Arbor, square-foot headquarters in the College Park office complex on Haggerty Road near Six Mile in Livonia. agenda Pfizer CEO says More than 250 employees will be housed in the build- BY ANDREW DIETDERICH ing, which is expected to Inside CRAIN’S DETROIT BUSINESS open early in 2007. The Post-Super Bowl priority: ■ So what’s next? Keith Crain, Bob bank is currently based in Allen and a host of Detroit Researchers and developers at Pfizer Ann Arbor, in the former Focus on mass transit businesspeople weigh in. Pages 8-9. Inc.’s Ann Arbor complex may have saved Great Lakes Bank Building it ■ Should the Olympics be next? the company — and some of Pfizer’s 14,000 sold to McKinley Associates BY SHERRI BEGIN Some say Detroit should set its sights jobs in Michigan — by developing a new Inc. of Ann Arbor in 2005. AND MICHELLE MARTINEZ on the showcase. Page 28. drug the company hopes will be as suc- — Tom Henderson cessful as blockbuster Lipitor. CRAIN’S DETROIT BUSINESS ■ Light rail debate: Detroit-Ann Arbor The drug is called Lyrica and sales have proposal enters debate over Grand rain’s asked its readers how Detroit could reinvent grown since its September, after what the Dura plan would Rapids project. Page 28. itself in the wake of the Super Bowl and the answer company calls “one of the most successful close half its plants C came through loud and clear: Build mass transit. Pfizer launches ever.” Detroit’s status as home to Motown, cars and multiple On the Web Pfizer said Friday that it Rochester Hills-based sports venues makes it a regional draw, and, if marketed ■ More thoughts: You responded in a expects Lyrica sales to Dura Automotive Systems Inc. well, could produce several annual festivals and events, big way to our call for ideas. Check out be $900 million in 2006. announced restructuring readers say (See Page 28). readers’ opinions on crains John Boris, an ana- plans Thursday that will But the question is: How will people get downtown to en- detroit.com. Click on the “The Detroit lyst with Bear Stearns in ultimately close 50 percent joy them? Agenda” in the left-hand gray bar. New York, said in a of its plants and will result “People need to feel that whatever the event is they can ■ Your opinion matters: Go to Jan. 6 research note in the relocation of about get to it easily and safely. … As the shuttle bus program crainsdetroit.com and click on the that Lyrica sales could 2,000 jobs. showed, people are willing to come down on the bus as long “What’s next for Detroit” banner at top $2.4 billion by 2010. By 2007 Dura plans to as they know where it’s going,” said Keith Mixter, a marine the top of the page to get in on the He said because of the close five to 10 plants debate. McKinnell drug’s potential, Pfizer worldwide and plans to ex- See Agenda, Page 28 stock remains undervalued. pand plants in Mexico and In an interview with Crain’s, Hank Eastern Europe. McKinnell, Pfizer CEO and chairman, “While decisions to close said there is a direct tie between the suc- facilities and displace em- cess of new drugs such as Lyrica and jobs ployees are never made in Ann Arbor. easily, positioning all of Penske: Aid homeless, Pfizer’s Ann Arbor complex is where our products in best in cost the company does much of its research facilities is necessary,” and development. said Larry Denton, Dura’s “(The jobs of those in Ann Arbor) are chairman and CEO during work on mass transit safe so long as we have income to pay a conference call with ana- lysts Thursday. See Pfizer, Page 29 Dura has been battered BY JENNETTE SMITH Economic Club to thank by steel costs that have CRAIN’S DETROIT BUSINESS those who worked on Super doubled, rising health care Bowl XL and to ask the re- His official duties may be costs and production cut- gion to start thinking about over, but Roger Penske isn’t backs from its primary new goals. When inter- taking a pit stop. customers. viewed afterward, he reiter- NEW THIS MONTH As part of its restructur- He has a working agenda, ated that the Super Bowl ing effort, Dura said it is including helping the home- demonstrated that the com- considering a sale of its less, addressing mass tran- munity could pull together manufacturing operations sit and pushing more in- when faced with a big task in Lage, Lippstadt, and vestment in Detroit. The and a deadline. Rotenburg, Germany, and chairman of the Super Bowl “We finished the last has hired W.Y. Campbell & Co. XL Host Committee promises lap,” he said. “Now we’ve In this issue, Crain’s introduces a new to solicit bids for the plants. to be part of a group of com- got to start the next race.” monthly feature dedicated to a behind- Also last week Standard & munity leaders to plot the Penske said he plans to the-scenes look at business trends and Poor’s Ratings Services region’s next steps after the learn more about what it other events in metro Detroit. takes from a financial per- downgraded Dura several big game. Our inaugural story, on Page 17, times from B on Thursday Penske, a racer-turned- spective to support the explains how word of mouth works in to CCC, which is well be- entrepreneur, used his homeless and to provide marketing new restaurants and clubs. programs to get people on low investment grade. Crain’s Newsmaker of the Have an idea for a future Metro story? their feet. He plans to look — Brent Snavely GLENN TRIEST Year speech last Wednes- Send it to Executive Editor Cindy to other cities, such as See This Just In, Page 2 Crain’s Newsmaker of the Year Roger day before a joint meeting Goodaker at [email protected]. Penske says he’s ready for the next race. of Inforum and the Detroit See Penske, Page 29 Focus MEETINGS AND CONVENTIONS NEWSPAPER Super Bowl provides a super résumé, Page 11. Largest conventions, events, Page 13. DETROIT BUSINESS MAIN 02-13-06 A 2 CDB 2/10/2006 6:27 PM Page 1 Page 2 CRAIN’S DETROIT BUSINESS February 13, 2006 to assess the competitiveness of Trans-Industries was delisted $10 Canadian, tumbled to 45 cents CRAIN’S AWARDS THIS JUST IN Michigan taxes and regulation, ed- from the Nasdaq Stock Market on after officials announced in No- ucation, and infrastructure such Dec. 15 because its shareholder eq- vember that they were suspending SCHOLARSHIP ■ From Page 1 as roads and public transit. uity fell below Nasdaq’s minimum monthly interest payments to Andrea Manson, a junior at The study, to be conducted by requirement of $2.5 million. The shareholders in the company, or- Eastern Michigan University, Coca-Cola opens new Anderson Economic Group L.L.C. in company’s stock had since been ganized as an income trust. It has is this year’s winner of the East Lansing, will benchmark trading over-the-counter through since traded as high as $1.15. Crain’s Newsmaker plant in Highland Park Michigan with 49 other states, said Pink Sheets. A hearing on the motion is Scholarship. Manson is pursuing a degree Coca-Cola Bottling Co. of Michigan, Matt Resch, press secretary for De- — Sheena Harrison scheduled before Judge Wendy in accounting and carries a a division of Atlanta-based Coca- Roche, R-Novi. Potts on April 5. He said state House funds are — Tom Henderson 4.0 grade Cola Enterprises Inc. (NYSE: CCE), paying for the study. Its results will FMF Capital asks court point said Friday it has opened a new average be shared with other Republican sales and distribution center in to dismiss Canadians’ case while and Democratic legislators and the Nominations sought for sales, Highland Park. helping to Granholm administration, to help FMF Capital L.L.C. of Southfield The 21-acre, 175,766-square-foot filed a motion in Oakland County Cir- marketing awards raise three policymakers develop “ideas to children. plant on Oakland Park Boulevard cuit Court Wednesday asking that a The Marketing & Sales Executives move Michigan ahead,” Resch said. She also employs about 384 and became ful- The data will be compiled this proposed class-action suit filed on of Detroit is accepting nominations volunteers ly operational Jan. 13. Coca-Cola is spring, and Resch said DeRoche behalf of Canadian stockholders by for its Platinum Awards for one for Dawn leasing from Troy-based Stuart hopes to have the study complete attorneys for Toronto-based LIMBC team and one individual who suc- Farms, a Frankel Development Co. by June. Acceptance Corp. be dismissed. cessfully marketed and sold a crit- drug and Manson alcohol Coca-Cola consolidated three lo- — Amy Lane Attorneys for the subprime ical product or service. cal sales and distribution centers mortgage company argued that Nominations are due by March rehabilitation center, while in Madison Heights, Detroit and the plaintiffs had no standing in a 3.