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County, MMPI Grew Apart Bruce Carroll — Right, of Last Wednesday, Sept 20130923-NEWS--1-NAT-CCI-CL_-- 9/20/2013 3:53 PM Page 1 $2.00/SEPTEMBER 23 - 29, 2013 ANALYSIS INSIDE Sizing up the competition County, MMPI grew apart Bruce Carroll — right, of Last Wednesday, Sept. 18, Cuya- Schoolbelles Coming split of tradeshow partners reflects divergent paths hoga County Executive Ed FitzGer- — and other ald told Crain’s his administration By JAY MILLER smaller ter for Health Innovation with what MMPI Inc. of Chicago, are parting, and MMPI are looking for an expe- [email protected] Northeast Ohio can happen when two people marry it appears, because neither side has rienced convention center manag- too young, before each really knows maintained the enthusiasm for the retailers are er to take over operations at the seeing their school uniform It isn’t hard to compare the part- where their lives are headed. other that they had when they were complex. business facing more of a ing of the ways at the Cleveland Cuyahoga County and its part- courting a half-dozen years ago and challenge from major companies Convention Center and Global Cen- ner, tradeshow complex manager then got hitched in 2010. See MMPI Page 18 such as Walmart, Target, Kmart and TJ Maxx. PAGE 3 OHIO CITY Third HOME TO Frontier MARKET may open OPTIMISM its wallet Area has experienced an ‘enormous’ change in sales As venture funds of houses at $200K and up struggle to raise cash, commission By STAN BULLARD [email protected] ponders investing atty and Steve Roberts recently sold their By CHUCK SODER four-bedroom, Shaker Heights home with [email protected] a large yard and in-ground pool to down- size, because their daughters are grown. As venture capital firms step out, PThe couple this month moved into a two-bed- the state of Ohio could step in. room place with a one-car carport and 30% less The Ohio Third Frontier Commis- space. sion is thinking about funneling The new place is a single-family home built in more money to young technology 1854 on Carroll Avenue in Cleveland’s Ohio City companies that normally would rely neighborhood that cost $290,000. on venture capital, which is becom- “We know we’re at the higher end in Ohio City, ing harder to find. but we got a really good home,” Mrs. Roberts said. With Third Frontier’s help, See OHIO CITY Page 17 INSIDE: high-tech companies in state are hiring more employees. Page 7 In Ohio and across the country, venture capital firms are finding it hard to raise cash. Thus, they’re making fewer investments — a trend that many industry watchers expect to continue. Several members of the Third Fron- tier Commission and its advisory board voiced concern about the state of the venture capital sector last week during their annual retreat in Mount MARC GOLUB PHOTOS Sterling, just south of Columbus. Steve and Patty Roberts’ living room Steve and Patty Roberts purchased their home on Carroll Ave. in Ohio City for $290,000. See FRONTIER Page 7 38 SPECIAL SECTION 7 GREEN CONSTRUCTION NEWSPAPER Green roofs can have a lasting impact Entire contents © 2013 74470 83781 on buildings and businesses ■ Pages 11-15 by Crain Communications Inc. Vol. 34, No. 38 0 PLUS: GREEN SPACE PROFILES ■ INCENTIVE PROGRAMS ■ & MORE 20130923-NEWS--2-NAT-CCI-CL_-- 9/20/2013 2:08 PM Page 1 2 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM SEPTEMBER 23 - 29, 2013 COMING NEXT WEEK IN THE MOOD TO SPEND You’re finally spending money like it’s 2008. The Bureau of Labor Statistics reports that average expenditures per household in 2012 were $51,442, an Event planning increase of 3.5% from $49,705 in 2011 and the first year since 2008 in which the figure passed $50,000. (It was $50,486 that year.) Here’s a breakdown of 700 W. St. Clair Ave., Suite 310, In next week’s special how the average U.S. household spent money last year: Cleveland, OH 44113-1230 section, Crain’s will get Phone: (216) 522-1383 Category Expenditure Change from 2011 Fax: (216) 694-4264 you up to date on what’s www.crainscleveland.com going on at the Cleveland Housing $16,887 +0.5% Publisher/editorial director: Convention Center, Transportation $8,998 +8.5% Brian D. Tucker ([email protected]) Associate publisher/editorial: highlight trends in events Food $6,599 +2.2% John Campanelli ([email protected]) and provide tips from NE Personal insurance/pensions $5,591 +3.1% Editor: Mark Dodosh ([email protected]) Ohio planning pros. Health care $3,556 +7.3% Managing editor: Entertainment $2,605 +1.3% Scott Suttell ([email protected]) Sections editor: Cash contributions x-$1,913 +11.2% Amy Ann Stoessel ([email protected]) REGULAR FEATURES Apparel and services $1,736 -0.2% Assistant editor: Other $3,557 +5.2% Kevin Kleps ([email protected]) Classified ....................18 Going Places ...............10 ■ Sports Note: x-Category includes payments for support of college students; Senior reporter: Editorial ........................8 Reporters’ Notebook....19 alimony and child support; and giving to charities and religious organizations Stan Bullard ([email protected]) From the Publisher ........8 What’s New..................19 ■ Source: www.bls.gov Real estate and construction Reporters: Jay Miller ([email protected]) Government Chuck Soder ([email protected]) Technology Dan Shingler ([email protected]) Energy, steel and automotive Tim Magaw ([email protected]) SAVE THE DATE Health care and education Michelle Park ([email protected]) Finance Rachel Abbey McCafferty ([email protected]) NOV. 13 Manufacturing and energy Research editor: Deborah W. Hillyer ([email protected]) Cartoonist/illustrator: Rich Williams Events manager: Jessica Snyder ([email protected]) PREMIER SPONSOR Special events coordinator: Kim Hill ([email protected]) 8-11:30 a.m . - NEOACCA’s Legal Ethics, Professionalism Marketing strategist : and Substance Abuse Seminar & Keynote Address Michelle Sustar ([email protected]) Advertising director: t Gary Stromberg, Author and Speaker Nicole Mastrangelo ([email protected]) The BLACKBIRD Group Senior account executive: Adam Mandell ([email protected]) IN PARTNERSHIP WITH Account executives: Dawn Donegan ([email protected]) Andy Hollander ([email protected]) 11:30 a.m. - Noon - Afternoon Registration Opens Lindsie Bowman ([email protected]) John Banks ([email protected]) Office coordinator: Noon-1 p.m. – Luncheon & Keynote Address Denise Donaldson ([email protected]) Digital strategy and development t Judge Jed S. 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For subscription information and delivery concerns send correspondence to Audience Development Department, Crain’s Cleveland Business, 1155 Gratiot Avenue, CrainsCleveland.com/GenCounsel Detroit, Michigan, 48207-9911, or email to custom- [email protected], or call 877-824-9373 (in the U.S. and Canada) or (313) 446-0450 (all other locations), or fax 313-446-6777. Reprints: Call 1-800-290-5460 Ext. 125 The Cleveland Metropolitan Bar Association and NEOACCA are Registration Questions: Audit Bureau of Circulation requesting CLE hours from the Supreme Court of Ohio Commission on Denise Donaldson at 216-771-5159 or Continuing Legal Education. [email protected] 20130923-NEWS--3-NAT-CCI-CL_-- 9/20/2013 2:04 PM Page 1 SEPTEMBER 23 - 29, 2013 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 3 Lawsuits allege Invacare slow to reveal woes vacare stock because executives failed to Latest claim seeking disclose promptly the seriousness of reg- ulatory problems that eventually forced class action status says Invacare to shut down much of its wheel- chair manufacturing operations in Elyria FDA issues caused big and revamp its quality control processes. Thus, many Invacare employees — hit to retirement plan who are given the option of buying the company’s stock through the retirement By CHUCK SODER plan — continued to buy and hold shares, [email protected] not realizing the price of the stock was about to start falling, the lawsuit alleges. A lawsuit that seeks class action status At the start of 2011, the Invacare retire- alleges that Invacare Corp. and its top ex- ecutives kept employees in the dark ment plan held $21 million in company about regulatory problems that caused stock, which accounted for about 12% of the company’s stock price — and its re- the plan’s assets, according to the com- tirement plan assets — to take a big hit.
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