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Purtan Leaves a Changing Industry 20100222-NEWS--0001-NAT-CCI-CD_-- 2/19/2010 6:06 PM Page 1 ® www.crainsdetroit.com Vol. 26, No. 8 FEBRUARY 22 – 28, 2010 $2 a copy; $59 a year ©Entire contents copyright 2010 by Crain Communications Inc. All rights reserved Page 3 New model for Flagstar Bank Asset-based program aims in part at auto suppliers BY TOM HENDERSON CRAIN’S DETROIT BUSINESS We want to be meaningful Troy-based Flagstar Bank (NYSE: FBC), which made and “ lost fortunes as a bank focused almost exclusively on home lenders in our market. mortgages, is changing its ” business model. Joseph Campanelli, Flagstar Bank WEB EXTRA The bank intends to roll The man who put ‘regional’ Video: President and CEO on out an asset-based lending as accounts receivable from new or growing contracts. his vision for Flagstar program that will let auto Flagstar wants to tap into that market as well as start in Detroit Regional Chamber — and on finding the suppliers and others fi- and grow small-business and middle-market lending. It banking industry as a nance ramp-ups in produc- will also consider participation in U.S. Small Business Ad- young hockey player, ministration loan programs. www.crainsdetroit.com tion. It also wants to move Auto suppliers’ challenge: /multimedia into small-business lend- “If we don’t have a couple of hundred million in our ing. portfolio over the next 12-18 months, I’ll be very disap- Go global – or bust? NATHAN SKID/CDB Asset-based lending leverages company assets for what pointed,” said President and CEO Joseph Campanelli Flagstar Bank President and is often short-term borrowing to fill short-term needs. Be- about his short-term plans for growing the bank’s com- CEO Joseph Campanelli cause of a decline in real estate values, companies can’t use expects to roll out the asset- M&A Awards land assets now to back loans, but they can use assets such See Flagstar, Page 26 based lending program soon. Winners, finalists profiled, Pages 13-17 Nearly $1M Crain’s List Purtan leaves a raised to fund Largest accounting firms, Page 18 changing industry young cancer This Just In UM announces anchors ‘It’s harder to researchers for former Pfizer campus BY SHERRI WELCH The University of Michigan be a so-called CRAIN’S DETROIT BUSINESS has identified two research Sixteen local philanthropists hubs to serve as anchors at and a foundation have committed the 2 million-square-foot for- personality’ just under $1 million between 2009 mer Pfizer Inc. campus the and 2013 to provide three-year fel- university bought last year lowships to young Michigan can- for $108 million. BY BILL SHEA CRAIN’S DETROIT BUSINESS cer researchers who otherwise According to Ora Pescovitz, would go unfunded. CEO of the UM Health System When yawning and bleary-eyed The group’s aim is not only to and executive vice president metro Detroiters begin their day put money behind valid research for medical affairs, one hub on March 29, absent from their projects but also to ensure a con- will be biointerfaces, a bio- car radios for the first time in 45 tinuing pipeline of local cancer re- engineering combination of years will be the voice of Dick searchers. nanotechnology, sensors and Purtan. NATHAN SKID/CRAIN’S DETROIT BUSINESS Without ini- drug delivery; the other hub Known for his humor, charity tial funding, will involve molecular and work and trademark mustache, imaginable award in the busi- “That’s been a problem. Music “the young ones structural imaging. Purtan announced on Feb. 11 that ness, Purtan exits the industry at radio is music radio, and talk radio who have viable In January, the school he’s retiring next month from a time of im- is talk radio,” Pur- research pro- said it would begin moving oldies station WOMC-FM 104.3, mense change. 23RDPURTAN RADIOTHON tan said. “It’s jects … other- 300 researchers into the for- ending a career that began more Some of that harder to be a so- wise might mer Pfizer site, now known than 50 years ago. That includes change has been Ⅲ What: 23rd Dick Purtan called personality leave cancer re- Radiothon to raise money for the as the Michigan Institute for on-air stints at different Detroit pressure from ra- and entertain on search and do Salvation Army of Metro Detroit’s Clinical and Health Research, stations since 1965. dio station man- music radio. something else,” from space it leased at Domi- agers and owners Bed & Bread Club, which feeds There’s not as Campbell Widely considered a pioneer of and shelters the homeless. said William no’s Farms in Ann Arbor to talk and laugh much time as the modern morning radio format Ⅲ When: 6 a.m.-10 p.m. Friday Campbell, of comedy bits, chatter and music, less on air, and there used to be. founding chair- THE LIST See This Just In, Page 2 Ⅲ Where: Oakland Mall in Troy and the recipient of nearly every play more music Owners want to man of the Michi- instead. Ⅲ To donate: Call (248) 307- play more music.” Donors: Naming gan Cancer Re- the research It’s the result 1043, go to www.womc.com or That pressure send a check to The Salvation search Fund and supporters, of increasingly Army Bed & Bread Club at isn’t the primary founder of De- Page 25 detailed and in- 16130 Northland Drive, reason Purtan is troit-based in- stant audience Southfield, MI 48075 retiring, however. vestment firm W.Y. Campbell & Co. measurement Ⅲ Details: salmich.org, Purtan, who The research fund, operating as technology, such womc.com has six adult an initiative of the American Cancer as Arbitron Inc.’s daughters — in- Society, Great Lakes Division, also Portable People Meters that re- cluding Jackie, who works on the gives its donors a more intimate NEWSPAPER placed the traditional written di- ary method in recent years. See Purtan, Page 26 See Cancer, Page 25 20100222-NEWS--0002-NAT-CCI-CD_-- 2/19/2010 5:29 PM Page 1 Page 2 CRAIN’S DETROIT BUSINESS February 22, 2010 ranean region, the Middle East, son and M1 Rail CEO Matt Cullen development assistance to local THIS JUST IN The way it was: 1985 Central Asia and India. will discuss the Woodward Light downtowns and businesses. The gallery’s construction cost Rail Project, aiming to connect The county said Main Street has ■ From Page 1 Throughout our 25th-anniversary was $750,000, and a pre-grand downtown, Midtown and the New tallied $540 million of investment, year, Crain’s will use this space opening celebration was to be Center district and be the founda- 4,000 jobs and 407 new businesses Township. to look at interesting items from held Saturday. tion for transit to Eight Mile and since the program launched 10 The school plans to form vari- past issues. —Crain News Service beyond. In addition, film producer years ago. MSOC provides infor- ous research clusters at the site (A longer version of this story ap- Aaron Woolf will present clips from mation, technical assistance and and add up to 3,000 jobs over the Companies peared on detroitmakeithere.com) his national PBS special “Blue- networking. Participants include next 10 years. Its engineering “ print America: Beyond the Motor Farmington, Ferndale, Franklin, school is one of the leading re- that use only City,” and DDP CEO Ann Lang will Highland Township, Holly, Lake search centers in the world in Deadline coming up provide a downtown update. Orion, Ortonville, Oxford, Ponti- MEMS, or microelectromechani- regular mail for biz-plan competition Also speaking: DDP Chairman ac, Rochester and Walled Lake. cal systems. Roger Penske, Mayor Dave Bing — Chad Halcom — Tom Henderson and telephone calls are going Would-be entrepreneurs look- and Wayne County Executive ing for funding have a little time Robert Ficano. SRC to see leadership transition to lose their competitive left to register for the Great Lakes The 11:30 a.m.-1:30 p.m. event Zoup stirs up plans for 100 Entrepreneur’s Quest’s statewide takes place at the Detroit Marriott Sterling Heights-based SRC Re- new locations in five years edge. business plan competition. The Renaissance Center. Tickets are frigeration Inc. founder and Presi- ” deadline for the contest is March 5. $75. The deadline for reservations dent Craig Richert will hand over Southfield-based Zoup plans to Larry Brilliant, Entrants will compete for cash is Tuesday. See www.downtown- the reins of his company at year’s open 12 new U.S. locations this prizes up to $25,000 or a new detroit.org or call Sharol Morgan end to Vice President of Opera- year and 100 within the next five Network Technologies $100,000 SmartZone Award. at (313) 566-8250. tions Steve Lemieux. Lemieux, 40, years, the company said. International Inc., Ann Arbor Entrepreneurs may work with — Brett Callwood joined the company in December The openings will bring Zoup’s after acquiring a 5 percent stake From a May 20, 1985, article GLEQ business coaches and store count to 34. about business communications. SmartZone advisers. Plans and in it and said he has until 2014 to The company started as a two- Brilliant and others were singing executive summaries are due in Main Street Oakland touts buy the company outright under man operation supplying soups the praises of “electronic mail.” late April and early May, and businesses, development a five-year purchase agreement to restaurants out of a small awards will be announced June with Richert. He was previously space in Eastern Market. 10. See http://gleq.org.
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