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20130429-NEWS--0001-NAT-CCI-CD_-- 4/26/2013 4:59 PM Page 1 ® www.crainsdetroit.com Vol. 29, No. 17 APRIL 29 – MAY 5, 2013 $2 a copy; $59 a year ©Entire contents copyright 2013 by Crain Communica- Page 3 Chrysler Drive Chrysler Drive Boulevard formerly I-375 Jefferson Lafayette Jefferson Lafayette Among ideas to Gratiot Larned One possible plan for improving I-375 in Congress downtown Detroit: Turn a section into a pedestrian-friendly boulevard (above). In revamp I-375: return for helping pay for construction, private investors would receive portions This industry always of the land that would be freed up. experiences a soft landing A boulevard Home health care firm out the plan to begin a “com- to hire 300 for Troy HQ State, local munity discussion” and study about the future of the road- way in an exclusive interview Contain yourself: A hotel officials to with Crain’s last week. made of shipping containers If the study concludes the idea should not proceed, the study options state could begin making need- Crain’s Lists ed repairs to the corridor and BY CHRIS GAUTZ its overpasses, which the state CAPITOL CORRESPONDENT Largest Oakland County says are in poor condition. The state is considering a There are a number of un- employers, Page25 revamp of I-375 that would knowns, including total cost; raise a portion of the road to how many lanes, if any, would grade level and create a pedes- be reduced; what portions of This Just In trian-friendly boulevard de- the corridor would be raised signed to attract development. up to grade level; and who PowerTeam Services State and local officials cau- would pay for it. tion that the idea is not a fore- The approximate depth of to double revenue in deal gone conclusion, just one idea the freeway in its current that is being considered along form is about 20 feet below Plymouth-based PowerTeam with other options, including grade. Services LLC, which provides repairing the road in its cur- There are no cost estimates services for natural gas and rent configuration. Michigan at this point, because the state electric utility companies, Department of Transportation of- is not set on any one proposal, will double its revenue to $500 ficials and local officials laid See I-375, Page 34 million when an acquisition that will bring the company under a new majority owner BOB ALLEN/CRAIN’S DETROIT BUSINESS closes May 6. PowerTeam’s majority own- er is CIVC Partners LP of Chica- go, with Plymouth-based True North Equity LLC as the minority Driverless-car bill aims to owner. The impending deal was fi- nanced with $525 million in debt and involves New York smooth technology fast lane 20 who City-based Kelso & Co. buying out CIVC’s stake in Pow- BY DUSTIN WALSH “This is really a huge eco- erTeam and some of True CRAIN’S DETROIT BUSINESS INSIDE nomic development bill,” North’s stake. Kowall said. “This is going to Louisiana-based Power Hold- The Michigan Legisla- Bill in brief: have an effect of attracting ture isn’t taking a hands- Highlights of leap ings LLC, a utility services new companies and building off approach to the testing Senate Bill 169, company Kelso bought for Page 35. upon existing companies that $380 million in December, will of autonomous vehicles, are already here.” be folded into PowerTeam but it isn’t looking to be a Michigan acted in re- Services. backseat driver either, experts say. sponse to other states. Lawmakers in Jeff Wigginton, True North’s The Senate is expected to vote Florida, Nevada, California and Ari- out managing partner, will con- on S.B. 169 this week, which will zona have passed legislation already. tinue as COO of PowerTeam, regulate the testing of driverless Kowall said the patchwork of state and his father, Jim, will re- vehicles on Michigan’s roads. laws will serve as a stand-in until the main CEO. Jeff, a Crain’s 40 Sen. Mike Kowall, R-White Lake, U.S. Department of Transportation and under 40 in 2011, said Pow- who introduced the bill in Febru- the National Highway Traffic Safety Ad- erTeam also is in negotia- ary, said the bill is less about legal- ministration weigh in on the federal tions for future acquisitions. ization and more about promoting level. — Tom Henderson autonomous technology in Michi- Auburn Hills-based Continental Auto- gan. motive Inc. predicts at least partially autonomous vehicles will be market- NATHAN SKID/CRAIN’S DETROIT BUSINESS ready by 2016, with combined tech- nologies such as adaptive cruise con- From up-and-coming entrepreneurs to young trol and accident avoidance systems. professionals just starting to make themselves Adaptive cruise control uses forward- known in large organizations ... to the just flat-out facing radar and camera systems to creative. Come out to Belle Isle and meet the 2013 detect the speed and distance of the ve- hicle ahead of it — allowing a driver to class of Crain’s 20 in their 20s. simply follow the lead car when en- NEWSPAPER 20 in their 20s profiles appear on Pages 11-21 See Driverless, Page 35 20130429-NEWS--0002-NAT-CCI-CD_-- 4/26/2013 4:16 PM Page 1 Page 2 CRAIN’S DETROIT BUSINESS April 29, 2013 MICHIGAN BRIEFS Herman Miller, anthrax vaccine machines in Meijer stores in the Grand Rapids area and in Lincoln maker have acquisition fever Positive charge: LG Chem finally will start making batteries Park so customers can renew their vehicle tabs without traveling to a A couple of Michigan companies After delays and an investigation into how the the time, the company said it planned to create more announced significant acquisi- branch of the secretary of state. company spent federal stimulus funds, LG Chem than 400 jobs in Holland. (Crain’s Michigan Business Ⅲ Christian Gaines, 48, an exec- tions this week. Michigan Inc. says it is set to begin production of ad- first reported on west Michigan’s battery industry Ⅲ Zeeland-based Herman Miller utive at IMDb.com whose résumé vanced batteries this year in Holland, MiBiz report- in February 2011.) also includes jobs at the Cannes Inc. said it will buy New York City- ed last week. LG Chem, which received $150 million from the based Maharam Fabric Corp. for Film Festival and Sundance Film Fes- The plant will start operating in the second half of federal American Recovery and Reinvestment Act, tival, is the new director of ArtPrize, $156 million in cash, effective today. the year, executives told Reuters this month. A West landed in hot water in October when reports alleged The office furniture manufacturer the Grand Rapids art exhibition Michigan executive familiar with the company’s it was using the money to pay idled workers for with $560,000 in prize money. said Maharam generated revenue plans confirmed the report for MiBiz. “volunteering at local nonprofit organizations, play- of about $105 million in 2012, the Ⅲ Eight Michigan colleges have The $300 million-plus plant, completed last year, ing games and watching movies” because the made the 2013 Green Guide, com- Grand Rapids Business Journal re- never started production, as demand for plug-in plant’s 200 workers were not building batteries, a ported. Maharam, a fourth-genera- piled by the Princeton Review and electric and hybrid vehicles has been less than an- U.S. Department of Energy investigation found. The the U.S. Green Building Council. They tion family business employing 250, ticipated when LG Chem broke ground in 2010. At company returned $842,000 to the U.S. government. designs and supplies interior tex- are Albion College, Aquinas College, tiles for commercial, health care Central Michigan University, Grand Valley State University, Lawrence and residential interiors. by states. The project would em- wages was cut without a labor con- Ⅲ On Tuesday, the Pokagon Band Technological University, Michigan Ⅲ Lansing-based Emergent ploy five people, cost about tract negotiation. A release last of Potawatomi Indians will open Four State University, University of Michi- BioSolutions Inc., which makes the $2.5 million and take about 18 week from the Michigan Nurses As- Winds Dowagiac, its third casino in gan and Western Michigan University. anthrax vaccine, plans to buy the months to complete. sociation said the nurses would be southwest Michigan. The others Ⅲ Craft beer story alert: USA To- health care protective products di- A week before the Escanaba an- refunded a yet-to-be determined are in New Buffalo and Hartford. nouncement, Bell’s announced day has placed Michigan No. 5 on vision of Monroe Township, N.J.- amount after the arbitrator ruled Ⅲ The number of fliers depart- that it would put a brewery in the its list of the 10 best craft brew based Bracco Diagnostics Inc. in a that the hospital had unfairly cut ing from Bishop International Airport Gerald R. Ford International Airport in states. No talk of creating a playoff cash deal that includes a $26 mil- their wages by $2 an hour. in Flint dropped 8.3 percent in the Grand Rapids, the Grand Rapids system to determine the winner. lion payment at closing. The acqui- Cabela’s store in Dundee was Business Journal reported. first quarter of 2013 — to 100,144 sition is part of a goal to increase closed last week so it could be passengers from 109,295 in 2012, Find business news from biodefense business. cleaned up and restocked after a the airport authority said in a re- around the state at crainsdetroit MICH-CELLANEOUS small electrical fire on Wednesday. port. MLive reported the decline .com/crainsmichiganbusiness.
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