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Science Center Builds Its Future

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Science Center Builds Its Future 20090216-NEWS--0001-NAT-CCI-CD_-- 2/13/2009 6:46 PM Page 1 ® www.crainsdetroit.com Vol. 25, No. 7 FEBRUARY 16 – 22, 2009 $2 a copy; $59 a year ©Entire contents copyright 2009 by Crain Communications Inc. All rights reserved Inside Brokerage vs. State to get $18B adviser’s Midtown continues to grow, from stimulus bill Page 3 widow Levin: This will put people back to work State budget draws fire, Lawsuits fly in bid to Page 3 BY RYAN BEENE credit for four years of col- CRAIN’S DETROIT BUSINESS READ THE ACT lege for 121,000 Michigan recover stolen assets families, according to a Small Business Michigan civic, economic and business lead- To read a White House state-by-state ers were scrambling Friday to get a handle on complete version BY JEFF BENJAMIN breakdown. the impact of the $787 billion American Recov- of the $787 CRAIN NEWS SERVICE billion American “This is an important and ery and Reinvestment Act of 2009. necessary step,” U.S. Rep. Michigan is slated to receive more than $18.6 Recovery and An eight-year embezzlement scheme Reinvestment Sander Levin, D-Royal Oak, allegedly operated by a former broker billion in tax cuts and spending from the bill, ac- Act of 2009, go told Crain’s Friday. “The has left Hantz Financial Services Inc. in cording to estimates released Friday by the Cen- to www.readthe problems are so deep that we Southfield pointing fingers and filing ter for American Progress. stimulus.org. had to just move, and move lawsuits against the broker’s widow in About $847 million is earmarked for highway with some boldness, both on an effort to recover the stolen assets. and bridge projects, $135 million for public tran- the tax side and on the neces- Michael Laursen, a Midland-based sit, $84 million for energy programs, $249 million sary expenditure side.” Hantz broker who died in March after ac- for weatherization assistance, $237 million for Levin dismissed critics of the bill who say the ■ Group buying brings price cidentally shooting himself, allegedly water infrastructure, $1.6 billion for local bud- tax cuts will do little to stimulate economic ac- had skimmed $2.6 million from more gets and $926 million for K-12 education, accord- tivity and the spending will boost employment breaks, Page 11 than two dozen clients beginning in 2000 ing to the office of U.S. Rep. Gary Peters, D- marginally. until the time Bloomfield Township. “This is going to put people back to work and ■ Do research before hiring of his death. Tax cuts make up the remainder of the bill, in- (spending is earmarked for) essentially job- The firm is cluding up to $800 for about 3.9 million Michigan a consultant, Page 12 attempting to workers and a $2,500 partially refundable tax See Stimulus, Page 20 recover assets by going after This Just In the Laursen estate as well Bing, Cockrel tally support as his widow, from local business leaders Julie, who was the bene- Science Center builds its future Michael Laursen’s alleged Businessman Dave Bing embezzlement has Hantz ficiary of $1.4 and Detroit Mayor Ken Cock- Financial seeking to million worth rel Jr. have received substan- recover more than of life insur- Exhibit-building tial support from local busi- $1 million in assets. ance and re- ness leaders in the hotly tirement as- contested race for Detroit’s sets upon her husband’s death. arm part of plan top job. Those assets have been frozen pending Bloomfield Hills-based the outcome of at least two lawsuits by Penske Corp. founder Roger Hantz alleging that she was a co-conspir- to boost revenue Penske contributed $3,400, ator. the maximum personal dona- Suits have been filed in the U.S. District tion, to both men, as did A. Al- Court for the Eastern District of Michigan in BY SHERRI BEGIN WELCH fred Taubman, founder and Bay City, Midland County Circuit Court and CRAIN’S DETROIT BUSINESS former chairman of Bloom- Midland County Probate Court. The Detroit Science Center is hoping its new, ex- field Hills-based Taubman “Either Julie Laursen was greatly ig- hibit-building subsidiary will take it a step clos- Centers Inc., according to the norant of the family’s finances or she er to covering its operating costs entirely finance reports. knew what was going on,” said David through earned revenue within five years’ time. Bing remains the fundrais- Shay, Hantz Financial’s in-house legal “The creation of this entity really is the con- ing leader in the race, taking counsel. duit for us to go out and … build exhibits for the in $232,165 between Jan. 1 Even though bank and accounting outside world, either commercially or for other and Feb. 8, the close of the records show that the family’s lifestyle museums,” said CFO Robert Seestadt, who was pre-election reporting peri- — including the purchase of expensive named president of the new subsidiary, Eek- od. He spent $138,404, and cars, horses and recreational vehicles — stein’s Workshop L.L.C., last week. lists $153,631 in debts and was more than four times his $100,000 an- The center already had light industrial space obligations. nual income, it was not until a client com- NATHAN SKID/CRAIN’S DETROIT BUSINESS in Royal Oak Township and the necessary Robert Seestadt (left), president of Eekstein’s Bing ended the period with plained to a regulator about inconsistent equipment to produce its own exhibits. Workshop, and Ed Summers, vice president of a balance of $169,292, accord- account statements that the scheme was “The next natural step was to say at some exhibits at the Science Center, say exhibits such as See This Just In, Page 2 uncovered. point we’re going fill (the science center) up; this one usually take three to six months to See Brokerage, Page 21 let’s start looking on the outside,” Seestadt said. complete. It’s tough to project demand, he said. “We’re draw repeat visitors, said Don Mascot, vice pres- just trying to be open to opportunity as it aris- ident of account development at Warren-based es.” H.B. Stubbs Cos. The science center already is talking with “Museum projects, unlike trade show pro- three nonprofit and for-profit prospects about jects, are a very long term commitment,” he contracts that would be “significant,” Seestadt said, with funding over a number of years. said. “Once (museums) get that funding, they’re Demand for exhibit design and construction committed to making that project happen.” NEWSPAPER in the museum sector is fairly steady because museums need to constantly update exhibits to See DSC, Page 20 20090216-NEWS--0002-NAT-CCI-CD_-- 2/13/2009 6:51 PM Page 1 Page 2 CRAIN’S DETROIT BUSINESS February 16, 2009 mayor Hendrix filed his report sure sales. Intersouth Partners, from 1994- ArtServe names Goulet president THIS JUST IN but declined to make a copy avail- Towne Mortgage wants an or- 1998; general partner in a ven- able to Crain’s before press time. der and judgment from Judge Paul ture-capital firm in Oklahoma ArtServe Michigan has named di- ■ From Page 1 The special election primary is Borman that Evans has a duty to re- City, Chisholm Private Capital Part- rector of development Jennifer Feb. 24. The top two vote-getters sume regular sales on foreclo- ners, from 1998-2002; and presi- Goulet as its new president. advance to the May 5 general elec- sures. Evans has imposed a mora- Goulet had served as interim ing to a campaign finance state- dent and CEO of i2E Inc. in Okla- tion. torium on the sales since Feb. 3 president of the Wixom-based ad- ment filed Friday. homa City, from 2002 until last — Nancy Kaffer until county homeowners in cur- vocacy group since October, when In contrast, Cockrel ended the June. rent proceedings can exhaust any former president and CEO Neeta period with just $9,776 in the bank, — Tom Henderson Convention bureau hires PR firm relief options. Delaney left the organization. according to a report made avail- John Jacobs, senior partner at — Sherri Begin Welch able to Crain’s. Reports were due to promote Detroit to film execs Brasco wins solar contract Southfield-based Maddin, Hauser, Friday. Both men had filed re- The Detroit Metro Convention and Wartell, Roth & Heller P.C., who rep- Detroit-based canopy and shel- ports with Wayne County Clerk Arboretum Ventures to close on Visitors Bureau, through its film resents Towne Mortgage, said the ter manufacturer Brasco Interna- Cathy Garrett’s office, but only nd marketing division, has hired a firm is considering a request for tional Inc. secured a five-year 2 VC fund of $73 million Bing’s was available for viewing public relations firm to promote class-action status on the lawsuit. contract worth up to $500,000 to Friday. Ann Arbor-based Arboretum Ven- metro Detroit to film executives in — Chad Halcom deliver bus stop shelters and so- Cockrel took in $156,580 during tures L.L.C., a venture-capital firm, Los Angeles and New York. lar-powered lighting systems to the reporting period, with a total St. Louis-based Fleishman-Hillard, is expected to announce today that MEDC names new CEO the Utah Transit Authority. of $424,060 for the election cycle; with offices in L.A. and New York, it has held the final closing on its The contract has renewal op- Bing’s contributions for the cycle has been hired with a contract ex- The Michigan Economic Develop- $73 million second fund.
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