DECADE of the Year

Stephen Ross NEWSMAKERS ne of two CRAINSDETROIT.COM I JANUARY 6, 2020 billionaires behind the

M. Roy Wilson University of NEWSMAKER HALL OF FAME OMichigan’s planned Detroit Center for Innovation, real estate developer Stephen Ross is Crain’s Newsmaker DECADE of the Year. And in observance of Crain’s 35th anniversary, we are OF DAN creating a new honor, the Newsmaker Hall of M. Roy Wilson | Page 19 Fame. e honoree is the How Gilbert changed Gretchen Whitmer man who helped sell Ross Detroit’s trajectory on Detroit, Dan Gilbert. Ross will be featured BYCHAD LIVENGOOD and Gilbert honored at In early 2009, Quicken Loans was a luncheon saluting all trying to weather the worst housing the Newsmakers on Feb. foreclosure crisis in the nation’s his- 21 at the MGM Grand tory while two of Detroit’s Big 3 automakers were begging for federal bail- Detroit. For tickets, go outs — and the mortgage company’s to crainsdetroit.com/ chairman was stewing about Wayne newsmaker. County building a new jail at the foot Fran Parker of downtown Detroit. Gretchen Whitmer | Page 18 Stephen Ross Mark Stewart Matt Cullen had been working for Page 10 Quicken Loans Chairman Dan Gil- bert for only about a year when the boss called him into his oce in a Li- vonia low-rise oce building alongside I-275. Gilbert was fuming about Wayne County’s plans to build a new 2,000- bed jail on Gratiot Avenue alongside I-375. “ is doesn’t make any sense,” Gil- bert told Cullen. “You have to get into it and try and change the trajectory of Fran Parker | Page 12 this thing.” Tom Shea Cullen came to work for Gilbert Mark Stewart | Page 17 from the real estate shop at General David Provost Motors Co. — one of the automakers freefalling into bankruptcy at the time — and was ummoxed by the boss’ demand. “Well, there’s a couple of problems with that — we’re not even in De- troit,” he told Gilbert. “And this thing is already cooked.” Cullen was wrong. And it was an example of strategic thinking that would play out over and over in the ensuing year — which might as well be called Tom Shea | Page 13 the Downtown Decade of Dan. David Provost | Page 16 Gary Jones For that inuence, which has land- Andrew Brisbo ed Gilbert on Crain’s annual list of top newsmakers no less than eight times, Crain’s will honor Gilbert at our annual Newsmaker of the Year luncheon with our rst Newsmaker Hall of Fame award. e jail construction project melt- ed down in 2012 when then-Wayne County Executive Bob Ficano had to abandon the project after sinking $150 million of taxpayer money into the ground. Gary JonesSuzanne | PageShank 13 See GILBERT on Page 21 Andrew Brisbo | Page 15

ILLUSTRATIONS FOR CRAIN’S DETROIT BUSINESS BY CHRIS MORRIS NEWSPAPER

Suzanne Shank | Page 14 NEED TO KNOW THE GREEN OOZE THE WEEK IN REVIEW, WITH AN EYE ON WHAT’S NEXT Not a festive green `LEVEL ONE CLOSES DEAL FOR decided, FCA spokesman Kevin Fra- WHY IT MATTERS: e higher regular ANN ARBOR BANCORP zier said. FCA is a “founding partner” `Making national news from Southeast Michigan over the holi- minimum wage will add to employ- in the hub, which represents a “signi- days? An outpouring of green ooze. ers’ costs but amount to a 2.12 percent THE NEWS: Farmington Hills-based cant investment” for the company, he e apparent pollution leaking out onto I-696 at I-75, photos of increase in wages. Employers are get- Level One Bancorp. on ursday com- said. which were run by media nationwide, is believed to have emanated ting a cut in their unemployment in- pleted its $67.8 million acquisition of from the site of Electro Plating Systems in Madison Heights, which surance tax ranging from $65 to $217 Ann Arbor Bancorp. e combined WHY IT MATTERS: e hub will welcome was shut down by the state in 2016 for environmental violations. per employee due to the elimination bank’s 15 banking centers in Ann Ar- “all technology startups, with an em- Its owner, Gary Sayers, has received a federal prison sentence. of a special tax the state imposed in bor, metro Detroit and Grand Rapids phasis on those owned by women and e state has done some testing of the area and found can- 2012 to pay o unemployment system will operate as Level One (NASDAQ: minorities,” the release said. e plan cer-causing chemicals remaining after a $1.5 million EPA cleanup in losses sustained during the Great Re- LEVL) and be headed by Level One comes at a time when FCA is investing 2016, and regulators are drilling around the site to gure out how cession. CEO Patrick Fehring. Ann Arbor Ban- about $2.5 billion at the Mack Avenue widespread the contamination might be. So far, the state has found corp’s three locations, doing business Engine Plant on Detroit’s east side, that no drinking water has been contaminated. `ENBRIDGE CREWS RETRIEVE as Ann Arbor State Bank, will be re- which is expected to add 4,950 jobs in ROD FROM LAKE MICHIGAN branded and integrated into Level the city. One’s system by March 23, the release THE NEWS: Temperatures just above said. freezing at the Straits of Mackinac between Christmas and New Year’s al- WHY IT MATTERS: e deal creates a bank lowed Enbridge Energy’s crews to re- with $1.8 billion in assets and $1.5 bil- trieve a 45-foot-long borehole rod lion in deposits, which would move it they left at the bottom of Lake Michi- from the 20th-largest bank in Michigan A green substance gan this fall during a geotechnical in- to 14th-largest. It’s the fth acquisition oozes out onto I-696 vestigation for a planned under- since Level One’s founding in 2007 by at I-75 in metro ground oil pipeline tunnel. regional banking veteran Fehring. Detroit. | MDOT `LIONS WILL BE PARTLY WHY IT MATTERS: In early December, `FCA TO OPEN DETROIT UNDER NEW MANAGEMENT Enbridge disclosed that it had lost two INNOVATION HUB steel drilling rods during a four- THE NEWS: e Detroit Lions are giving month-long geotechnical investiga- THE NEWS: FCA US LLC and the Michi- head coach Matt Patricia and General leave from the profession. `MICHIGAN’S MINIMUM WAGE tion to plot the path of a tunnel the gan Minority Supplier Development Manager Bob Quinn another year af- INCHES UP 20 CENTS company wants to build under the Council are partnering with a Silicon ter a dismal 3-13 record in 2019. But WHY IT MATTERS: ere isn’t anyone in bedrock of the Straits of Mackinac to Valley-based tech accelerator to open some of the team’s coaching sta will Detroit below retirement age who can THE NEWS: Michigan’s minimum wage house its controversial Line 5 oil pipe- an innovation hub in downtown De- be on the way out. Patricia red six as- remember the Lions’ last NFL cham- workers got a New Year’s Day raise line. e Michigan Department of En- troit. e automaker and nonprot are sistants, including several position pionship in 1958. And team owner that’s just below the increased cost of vironment, Great Lakes and Energy working with Plug and Play tech center coaches and two strength coaches. Martha Firestone Ford has made clear living for metro Detroit. e $9.45 had chastised Enbridge for not in- to open the hub by June. It will be And defensive coordinator Paul that she wants a winner. e team’s hourly minimum is increasing to forming the agency about the debris called Plug and Play Detroit powered Pasqualoni is leaving to be closer to poor performance means the Lions $9.65 under a 2018 citizens-initiated at the bottom of Lake Michigan until by AmplifyD, which stands for “Ampli- his family, and oensive line coach will have the third pick in the draft this law that puts in place gradual increas- Nov. 19, more than two months after fy: Diversity.” e location has not been Je Davidson is taking an indenite year. es to $12.05 per hour by 2030. the rods were lost.

PREMIUM OFFICE SPACE AVAILABLE • UP TO 13,194 SF • LOBBY EXPOSURE • UNDERGROUND PARKING •

PINEHURST 39400 WOODWARD AVENUE BLOOMFIELD HILLS, MI

248.644.7600 KOJAIAN.COM

2 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 HEALTH CARE Beaumont responds to sta ng complaints Concerns at Trenton, Royal Oak hospitals

BYJAY GREENE

Beaumont Health, an eight-hospital system based in South eld, has re- sponded to surgeon and nurse complaints about short surgical sta ng at its Trenton hospital by hiring more sta and opening a dialogue between management and front-line providers, a move that its surgery chief has said is a good rst step toward repairing a breakdown of trust. Over the past several months, Beau- ENTREPRENEURSHIP mont has cut nurse anesthetist costs at its Trenton and Royal Oak hospitals as part of a restructuring and expense-reduction e ort that also includes at least 50 layo s or resignations of primarily managers and executives in its corporate o ce and operating units. STORING UP Four doctors and four nurses, several of whom requested anonymity, told Crain’s that the cutbacks and other operating changes have resulted in widespread confusion among its clinical sta and patients at Beaumont’s Royal Oak and Trenton hospitals. STEM CELLS At 1,070-bed Beaumont Hospital in Forever Labs president, chief science o cer and co-founder Mark Katakowski and CEO Steven Clausnitzer in the company’s Ann Arbor laboratory. | FOREVER LABS Royal Oak, Beaumont has decided to change how it sta s anesthesiology services at the family birthing center at its Forever Labs grows market, increases funding with storage process agship hospital. In mid-January, Beaumont will end regular use of certi- BYTOM HENDERSON with 17 physicians around the coun- three-minute pitch for capital before “PEOPLE WERE ed registered nurse anesthetists for try. ey withdraw bone marrow 700 would-be investors. at result- monitoring epidural medications. Forever Labs Inc., an Ann Arbor from customers in a 15-minute pro- ed in seed funding of $2 million, TRYING TO RECRUIT e nurse anesthetists will be trans- stem-cell company that graduated cedure and ship it to Ann Arbor, which included institutional inves- ferred to other departments. CRNAs from the prestigious Y Combinator where it is processed in a centrifuge tors — Milwaukee-based Northwest- US TO SILICON VALLEY are advanced practice nurses specializ- incubator program in Silicon Valley to concentrate the stem cells, which ern Mutual Capital LLC; Funder- AFTER Y ing in anesthesia and pain manage- in 2017, has started raising a Series A are then grown into much larger vol- sClub, an online community for ment. round of funding that it hopes to umes, from tens of thousands of cells accredited individuals; Silicon Val- COMBINATOR. THERE Beaumont Hospital Trenton, the 200- close out soon at $6 million to $8 mil- to hundreds of millions. ey are ley-based Babel Ventures and Silicon WAS A RICH bed Downriver hospital, is so short- lion. then shipped to an FDA-compliant Badia, a VC rm based in New York sta ed of CRNAs, surgical technologists, Company CEO Steven Clausnitzer biorepository in Indianapolis and and Amman, Jordan — as well as NETWORK OF nurses and housekeepers that it idled at said one use of funds will be to in- cryogenically frozen and stored. wealthy individuals, including Kevin SUPPORT THERE, BUT least three of its 11 operating rooms, crease the sales and marketing team. One of the doctors is Michael Love, a player for the Cleveland Cav- eliminated block scheduling and was Forever Labs stores something called Ban y, the team physician for the aliers of the National Basketball As- WE’RE MICHIGAN taking elective surgeries on a “ rst come, mesenchymal stem cells, which are Los Angeles Dodgers baseball team sociation, and Li Jiang , an investor in GUYS. WE WANTED TO rst serve basis,” said Zachary Lewis, taken from customers’ bone marrow and the Los Angeles Rams football tech startups who early in 2018 post- D.O., a general surgeon and chairman of and can be reinjected years or de- team. ed a video of himself getting his bone BE HERE. ” Trenton’s surgery department, in an in- cades later to ght diseases or slow Forever Labs’ graduation from the marrow extracted. —Steven Clausnitzer, terview Dec. 19 with Crain’s. the aging process. three-month Y Combinator program Forever Labs CEO e company currently partners in the summer of 2017 came with a See STEM CELLS on Page 24 See BEAUMONT on Page 25

INFRASTRUCTURE Administrative law judge criticizes DTE’s proposed energy plan Public Service Commission ruling expected in February

BYJAY GREENE resource plan, don’t comply with the sel, the Union of Concerned Scientists, state’s 2016 energy law, which mandat- the Environmental Law and Policy A state administrative law judge has ed such plans. She said other aspects of Center and the Michigan Environmen- rejected DTE Energy Co.’s long-term the plan used outdated data and tal Council. energy plan, sending a recommenda- awed modeling that understated the In a statement, DTE said: “We are tion for denial and re ling to the Mich- bene ts of renewable energy and ener- thoroughly evaluating the ... recom- igan Public Service Commission. gy e ciency and relied more on tradi- mendation in preparation for ling e commission doesn’t have to fol- tional energy sources, especially natu- our response, the next step in the In- low the judge’s recommendation, but ral gas. tegrated Resource Plan process. We does weigh the opinions in making its Several environmental and renew- respect and understand that the nal decision, expected Feb. 20. able-energy advocates criticized DTE’s (judge’s) recommendation is a part In the 197-page opinion, Judge Sally plan, which was led in April 2019, and of the IRP process. ... Wallace said several provisions of intervened in the case. ey included A state administrative law judge said DTE’s long-term energy plan understated the DTE’s proposal, called an integrated Michigan Attorney General Dana Nes- See DTE on Page 23 bene ts of renewable energy. | DTE ENERGY

JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 3 REAL ESTATE INSIDER

We’ve always been all in one. Now we’re

Since our company began in 1956, we

have adapted to your changing needs. Development projects in and around Detroit died, were dramatically scaled back, delayed or completely reimagined in 2019. | LARRY At our core, we are trusted as engineers, PEPLIN FOR CRAIN’S DETROIT BUSINESS architects, scientists, and constructors solving problems while making the world Real estate development in a better place. While the name is new, our approach is still the same: all-in one metro Detroit was in ux in 2019 service with an emphasis on integrity, At the start of ` Dennis Archer Jr. and Bloomeld ` A commercial real estate executive innovation, and excellence. 2019, I reported on Hills-based Lormax Stern Develop- hasn’t been heard from in months af- the Baker College ment Co. LLC have scrapped the 213 ter being implicated in a Ponzi campus consoli- apartments planned for a mixed-use scheme. dation into down- development that is now one use: a ` e Ilitch family’s District Detroit town Ferndale. Meijer Inc. grocery store on East Jef- still doesn’t have a single new resi- At the end of ferson Avenue. dential unit, 5 1/2 years after it was 2019, I reported ` In Brush Park, New York City-based unveiled. Kirk on the Baker Col- RHEAL Capital Management LLC ` A large Southeld oce complex lege campus con- and Livonia-based Schostak Bros. & got new owners after the previous PINHO solidation into Co. are no longer doing hundreds of ownership group allegedly neglected downtown Royal apartments in the neighborhood it and defaulted on a mortgage. 800.456.3824 Oak. north of downtown, doomed by high ` The churn in Mayor Mike Dug- fishbeck.com at, in itself, is a perfect illustra- construction costs and nancing gan’s economic development and tion of a year in which a not insigni- woes. planning team continues, with F. cant chunk of the development pipe- ` A plan in Birmingham to bring a Thomas Lewand, Maurice Cox and line in Detroit and its suburbs was in agship RH luxury store was torched others leaving for new jobs or retir- ux. when voters shot down a bond mea- ing. Projects in and around Detroit sure that would have paid for a new ` Amazon is going to the Pontiac Sil- were buried, at times unceremoni- parking deck to support it. verdome site; the Joe Louis Arena is ously, in the development graveyard ` In Ferndale, a parking issue killed coming down, to be redeveloped by or dramatically scaled back, delayed Baker College’s plan to build a new the Sterling Group; and the Palace of or completely reimagined, much of consolidated campus along Nine Auburn Hills will be partially implod- the time at the whim of a labor mar- Mile Road in the hip downtown ed in the spring after being pur- ket in which costs have risen by most area. chased by a joint venture between estimates around 30 percent. Schostak Bros. and Detroit Pistons But other times, residents torpe- YES, THERE HAS BEEN owner Tom Gores. doed them, as was the case in Bir- ` Dan Gilbert suered a stroke in mingham and Ferndale and Wash- SOME GENERAL SENSE May and returned home this summer ington Township. THAT THE LABOR MARKET after rehab in Chicago. I’ve seen no evidence the choppy ` Gilbert, Stephen Ross and the Uni- seas will calm this year. Yes, there has WILL LOOSEN UP A BIT, versity of Michigan are planning to Norman A. Yatooma been some general sense that the la- DRIVING COSTS DOWN AT turn the former jail site downtown ATTORNEY AT LAW bor market will loosen up a bit, driv- into the Detroit Center for Innova- ing costs down at least slightly. But LEAST SLIGHTLY. BUT EVEN tion. even so, it will be too little too late for SO, IT WILL BE TOO LITTLE ` We learned that General Motors those developers whose projects and Gilbert talked about him pur- ended up scrapped. TOO LATE FOR THOSE chasing the Renaissance Center. ere have been plenty of exam- ` Opportunity Zones started gaining ples of real estate projects seriously DEVELOPERS WHOSE more steam, as well as criticism, and or fatally wounded in 2019: PROJECTS ENDED UP a national report suggested improper ` e Platform LLC’s eort to build Opportunity Zone inuence by Gil- high-end condominiums in the SCRAPPED. bert’s team, which denied the accu- TechTown neighborhood has been sation. shelved as construction costs cut into ` In Washington Township, a millage ` Concern mounted in Eastern Mar- • NYA won MI’s largest judgment in 2018. prot margins. (A contractor switch that would have allowed for the pur- ket over tenants being squeezed out • NYA won MI’s largest legal malpractice has also delayed one of its nearby chase of the Total Sports Park com- because of rising rents, and Russell judgment of all time. ground-up developments.) plex failed in a spectacular defeat at Street Deli shuttered its doors after a • NYA won the largest franchise settlement ` Likewise, a plan by e Means the polls. dispute with Sanford Nelson. Group Inc. and Holdwick Develop- Untold numbers of others at vary- in MI’s history. ment Group for luxury condos was ing stages in the development pro- Beaumont breaks ground abandoned in favor of a Cambria Ho- cess have blown through previously on new building tel. disclosed timelines. ` Executives from Dan Gilbert’s Bed- If I missed any in my list above, or A new $40 million mental health rock LLC are no longer sure the de- there are some I don’t know about, facility by Beaumont Health and Uni- velopment being built on the site of let me know. versal Health Services broke ground the former J.L. Hudson’s department in December and construction is to store will end up housing the tallest Other news from start early this year, with completion For Help Minding Your Own Business, building in the state. the year that was by the middle of 2021. Contact Us for a Free Consultation. ` Likewise, Bedrock’s eorts to devel- e more than 100,000-square- op oce, residential and retail space It’s not just the roller coaster devel- foot facility is to sit on 8 acres of Ro- (248) 481-2000 | normanyatooma.com on the Monroe Blocks site has been opment year that has made news. tunda Drive land. Sources: Thompson Reuters Westlaw Edge Case Evaluator Report for Largest Legal Awards pushed back as a redesign is under- Here are some other real estate and Lexis Nexis Settlement and Verdict Analyzer way, even after a ground-breaking stories that caught my attention the Contact: [email protected]; ceremony a year ago. last 12 months: (313) 446-0412; @kirkpinhoCDB

4 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 MANUFACTURING Canton Township-based toy maker plays for rebound Magformers nds other ways to sell products after Toys ‘R’ Us closure bruised business BYKURT NAGL ford, Ore., in 2005 by entrepreneur When Toys “R” Us closed all of its Stephanie Hunts, more than 700 U.S. stores last year, who exited the Canton Township-based toy maker business in 2017. Magformers LLC lost its biggest brick- Its majority own- and-mortar customer. er is South Ko- e unexpected business loss rea-based Gym threw a wrench in the company’s World Inc., which growth plans and forced it to nd oth- Tidwell had been an er channels to sell its products. With equal partner new contracts on the horizon, and its with Hunts until popular building block sets on a she left. growing number of Christmas lists In 2012, the company hired Tidwell last year, the toy manufacturer is an- as CEO after approaching him about gling for a rebound. growing the company. Tidwell had “When you take that kind of money been an executive at Wild Planet En- from a manufacturer, it’s tough,” CEO tertainment, Mega Brands and Lego. Chris Tidwell said, referring to the In search of a cost-e cient, central- multimillion-dollar hit it took when ized location, Tidwell moved the Toys “R” Us closed. “We’re tight this company to Canton in 2012, building year (2019).” it up from a $2 million-a-year special- Magformers reached its peak reve- ty toy maker into a midsize company. nue of $50 million in 2017. It was on Tidwell said he expects company pace to hit $37.5 million in 2019. Tid- revenue to hit $50 million again in well said the company, which em- 2020 and grow from there. He plans to ploys 20, narrowly avoided layo s add four employees in 2020 and amid the sales slide, but it halted eventually sta more than 50 in the plans to add more workers. Magformers LLC, a toy maker based in Canton Township, is looking to bring revenue back up to where it peaked before Toys “R” Us next few years as new revenue While the manufacturer’s single closed all of its stores. | MAGFORMERS LLC streams come online and brick-and- largest customer is Amazon, its distri- mortar grows, on which Tidwell is bution deals with Meijer, Target, has faced sti competition from digi- uses neodymium rare-earth magnets Courtyard, La Petite Academy, Mon- banking. Walmart, Kohl’s and other chains ac- tal media, with tablets and mobile and patented design for reliable con- tessori Unlimited and Tutor Time. “I don’t believe the consumer is count for 60 percent of revenue. phones replacing Power Rangers and nectivity, according to the company. Tidwell said he aims to work with ever going to want to not have a phys- Brick-and-mortar — speci cally, en- Hot Wheels in kids’ grips. Its products are sold around the educators in other states to incorpo- ical buying experience,” he said. “We tering more food and drug stores — is e toy market has long been dom- world, but its main market is the Unit- rate Magformers into lesson plans, still need to use our senses.” a key part of its expansion strategy. It inated by household names that in- ed States. e Ford Road headquar- which would help build out its reve- recently landed a deal to be in Wal- clude Denmark-based Lego Group, ters houses administrative services nue stream. Contact: [email protected]; greens stores across the country, and New York-based Fisher-Price and such as sales, nance and marketing. Magformers was launched in Med- (313) 446-0337; @kurt_nagl a similar agreement with Rite Aid is in California-based Mattel. Magform- A retail showroom opened there in the works, Tidwell said. ers’ value proposition, though, ts a 2017. Its products are manufactured “As much as everyone says it’s all growing niche: educational toys. in China and Belgium. e-commerce, it’s not,” Tidwell said. Magformers’ marquee product is In addition to making more of its “ ere’s still a lot of in-store pres- its 30- to 62-piece sets of magnetic toys available in stores and online, ence.” shapes that can be arranged into dif- the company is working out a deal Still, digital is eating away at the ferent structures. It is marketed as a with Novi-based Learning Care traditional toy industry. Toys were a STEM-friendly, fun way for kids to Group Inc. to get toys into some of the $28 billion market in the U.S. last year, learn colors, geometry and how to more than 900 schools the company down 2 percent from the year prior, build 2D into 3D. It sells more than operates. Learning Care is the sec- according to the New York-based Toy 200 types of products, including ond-largest for-pro t child care pro- Association. e industry, fueled by brands Tile Blox, Clicformers, Stick-O vider in the country with brands in- equal parts nostalgia and innovation, and a recent addition of plush toys. It cluding Childtime, e Children’s

BOOK OF LISTS Get more Detroit business data with Enhanced Membership Excel version of Book of Lists now available

e annual Book of Lists is the culmination of Crain’s year-round ef- forts to gather data on businesses, nonpro ts and people in metro De- troit and across Michigan. But if you want more — a lot more — get the Excel version of e Book of Lists. It contains not hundreds but thousands of Detroit-area executives, including CFOs, COOs and others. For instance, we just added more than 300 executives to the Excel version of our popular Private 200 list. Now there are more than 1,300 executives in that Excel le alone. And it’s just one of the many digital lists in the Excel Book of Lists, which is available exclusively to Crain’s En- hanced and Premier Members. You can visit CrainsDetroit.com/data to learn more.

JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 5 VENTURE CAPITAL

FOR LEASE Ann Arbor-based EXCEPTIONAL OPPORTUNITY SkySpecs Inc.’s software allows DOWNTOWN PLYMOUTH OFFICE for the automated inspection by drones of a wide variety of infrastructure, including wind-turbine blades. | SKYSPECS

1007 WEST ANN ARBOR TRAIL Premium Finishes | Ideal Location | Signage Available www.1007WAnnArborTrail.com

For more information, please contact: JASON STOUGH | DAN MORROW (248) 948 9000 www.signatureassociates.com Drone-inspection company SkySpecs raises $17 million funding round Money to be used to help double head count, expand reach

BYTOM HENDERSON farms more ecient with their au- Perhaps most important in terms tonomous drones and now dominate of raising its national pro le, that Ann Arbor-based SkySpecs Inc., the autonomous wind-turbine in- year SkySpecs was accepted into the whose software allows for the auto- spection market,” said Jim Adox, Techstars incubation program in mated inspection by drones of large managing director of the Ann Arbor New York, which led to oers to move Seasoned Connected Versatile wind farms, has nished raising a oce of Madison, Wis.-based Ven- the company out of Michigan in ex- funding round of $17 million and will ture Investors LLC, which has invest- change for funding, oers Ellis quick- use the money to ramp up hiring and ed in all of SkySpecs’ funding rounds. ly declined. expand its global He is also on the company’s board of In 2013, SkySpecs won $50,000 CALL OUR TEAM reach. directors. “ey are now using their for finishing first in the Michigan “It’s a huge val- inspection data to power innovative Clean Energy Venture Challenge, FOR A FREE idation that what software to further improve the e- put on by UM and Detroit-based we are doing is a ciency of wind farms. It’s a great DTE Energy Co., the same year it PROPERTYP VALUATION value add for in- company doing their piece to tackle raised a seed round of $595,000, led dustry,” CEO global warming.” by the Detroit-based First Step Danny Ellis told Ellis said the new funding round Fund. Crain’s of the Se- will help double the company’s cur- “We had customers in 19 countries Kevin Jappaya, CCIM ries C round. “We rent head count of 55 — “we have 25 on all ve continents this year, and President Ellis keep having good job openings posted on our website, we recently did our rst job in Asia,” Investment Sales news.” we’ll be on a big hiring spree over the said Ellis, who declined to disclose e funding brings the company’s next 12-18 months” — as well as al- the company’s revenue. Seller/Landlord Representation total raised to $29 million. In January low it to build more machine learn- He said he is prohibited by cus- Buyer/Tenant Representation 2018, the company, which was ing and arti cial intelligence into its tomers from mentioning them by founded by four engineering stu- Horizon software platform, beef up name. dents at the University of Michigan in sales and marketing and rapidly ex- e company is a good example of kjcre.com 248.851.8900 2012, raised a round of $8 million, pand sales in Australia, South Ameri- being exible in going to market. 30201 Orchard Lake Road, Suite 100 Farmington Hills, MI 48334 following its rst venture-capital ca and Asia. When it launched, the plan was to round of $3 million in 2015. e com- SkySpecs has had support from a build and sell carbon- ber drones pany is not a licensee of the universi- wide range of programs, with 2014 and ight controllers. Commer- ty. particularly newsworthy. cial-grade parts for drones weren’t e most recent round was led by at year, SkySpecs won the readily available then, but by 2014, McRock InFund L.P. of Toronto and $500,000 rst-place prize at the an- there were other makers of drones also included Equinor Energy Ven- nual Accelerate Michigan Innovation and drone parts in what had become tures of Norway and Evergy Ventures event in Detroit after being a semi - a crowded competitive space. In- of Kansas City. Follow-on investors nalist in 2013 and winning $10,000 in stead of continuing to pursue a busi- include Statkraft Ventures of Germa- the student category in 2012. It also ness model that was capital intensive ny; UL Ventures of Northbrook, Ill., won a small-business innovation re- and suddenly hyper-competitive, it CANNABIS and Capital Midwest Fund of Me- search grant of $150,000 from the Na- made sense, instead, to make the quon, Wis. tional Science Foundation, and Ellis sensors and software that would REPORT “SkySpecs is a great story. ey was named a member of that year’s make others’ drones much more ca- took on the challenge of making wind class of Crain’s 20 in their 20s. pable. Coverage of an emerging AWARDS industry in Michigan Deadline extended for Crain’s Notable The state’s legalization in 2018 of recreational cannabis use marks its entry into the Women in Health nominations marketplace. Follow our coverage as activity in this emerging You have more time to help us rec- the 2020 Notable Women in Health managers and executives, health in- eld heats up and as key ognize outstanding women leaders in a special report on March 16. novators and entrepreneurs, re- players look for roles in in health care. Any woman currently working in searchers and academics and more. the cannabis industry. We have extended the deadline to health in Michigan and who has not For more information about the nominate a candidate to Monday, Jan. earned a Notable Women in Michi- program or to submit a nomination, 13. After being nominated, candidates gan honor in the past 12 months is visit crainsdetroit.com/nominate or Visit crainsdetroit.com/cannabis will have until Monday, Jan. 20, to eligible for Notable Women recogni- contact Special Projects Editor Amy complete a separate application. tion. Honorees may include doctors, Bragg at [email protected] or (313) Crain’s Detroit Business will honor nurses, health care organization 446-1646.

6 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 SPONSORED CONTENT CARING FOR KIDS Advocating for the health and wellness of children and families

Host Larry Burns, President and CEO The Children’s Foundation

About this report: On his monthly radio program, The Children’s Foundation President and CEO Larry Burns talks to community, government and business leaders about issues related to children’s health and wellness. The hourlong show typically airs at 7 p.m. the fourth Tuesday of each month on WJR 760AM. Here’s a summary of the show

Advocating for the health & wellness that aired December 31st; listen to the entire episode, and archived of children and families episodes, at yourchildrensfoundation.org/caring-for-kids.

Dr. Stephen Bloom, Medical Director of Rehabilitation, Dr. Paul Thomas, Family Medicine Doctor, Plum David Coulter, County Executive, Oakland St. Joseph Mercy Hospital Rehabilitation, Ann Arbor Health DPC County advances you’ve made? for adults? wellness of the residents, Bloom: We’ve done better Thomas: Again, you have particularly the children, in identifying concussion me on speed dial. We of Oakland County. in our youth and, to also do in-house labs and We have a great health some degree, preventing medications for all of our department. I think we do it. There’s no way we patients at signifi cantly a lot of really good things can completely prevent lower cost. For example, and we do them well, but concussions, but people for a cholesterol panel at I’m asking questions like, are recognizing it more, ‘why are there disparities the hospital, you might making sure kids get out of from community to be charged $100; at our play once they’ve sustained community?’ ‘Are there Larry Burns: Tell us Larry Burns: Plum offi ce it’s $6. Or, if you Larry Burns: You’ve a concussion, and then access to health care about the rehabilitation Health DPC (Direct came in to manage your been in your Oakland following concussion issues that we need to programs at St. Joseph Primary Care) is the blood pressure and County executive role protocols. We do know address?’ Mercy Hospital. that if a kid has another fi rst practice of its kind you’re taking Lisinopril, for several months now; Burns: What Dr. Stephen Bloom: St. concussion before the fi rst in Detroit and Wayne that tablet might be $10 how’s it going? experiences have helped Joseph Mercy is a full- one’s completely healed, Country. Tell us more at the pharmacy for a David Coulter: When you as the county service rehabilitation they are at a much higher about your mission. one-month supply. At our you get to be the center within a hospital. executive? risk for worsened or more Dr. Paul Thomas: We offi ce it’s 1 cent per pill, person who’s driving We have the ability to take transformational change Coulter: My style is to prolonged symptoms. believe that health care so your blood pressure care of injuries that are should be affordable and versus just doing what’s be collaborative. Which is Burns: Regarding medications now cost 30 severe—traumatic brain accessible. We’ve lowered been done, when you to say I don’t have all the concussions, is there a cents a month. injuries, spinal cord injury way to determine when the cost of health care and actually get to lead real answers. I don’t pretend Burns: How’s the —to those that are mild, enough is enough? allowed people to be more change, it’s exciting. The to always be the smartest like concussions or joint practice going? things I get to do really Bloom: There is no way proactive in taking care of person in the room. What injuries. Then patients inspire me every day. to determine how many themselves. Thomas: We initially I am good at is bringing are able to continue with concussions are too many. With this direct care launched in 2016 as a Burns: What are some smart people together, outpatient rehabilitation That said, our brain has model, my patients—or house call practice. I of the things that you and bringing the right people programs. a capacity to deal with members—pay me directly. had a small offi ce in your team have as goals at the table, to work on Burns: Are there concussions and when It’s $10 a month for kids Southwest Detroit with for Oakland County in these problems. any concerns that are it occurs episodically or and then it starts at $49 about eight members. 2020? Burns: You recently becoming more frequent a few number of times it a month for adults. They We’ve now grown to about Coulter: I’ve laid out announced that you plan with kids? likely will not cause any can come see me any 580 members. We hired three things. The fi rst on running for a full Bloom: About 70 percent long-term defi cits. What time they need to. They a second doctor to help one is Oakland County term. What are your key of patients who go home as the economic engine we hear about in the also have my cell phone with the demand and we messages to the voters? from a hospital have a NFL develops because of of Michigan. It has number so they can call or moved into a larger offi ce Coulter: The slogan of prescription for a narcotic repetitive concussions text me anytime. a GDP that’s bigger or an opioid. We’ve in Corktown. the campaign is Moving over the course of an Burns: What might a than 24 states. It’s very certainly seen an increase Burns: What is in the Forward Together. athlete’s career. parent get for that $10 economically successful in accidental overdose in future for Plum Health? and I want to make sure We’re in this together Burns: Can you explain kid membership? kids and medication being Thomas: We want to that we preserve that by as a region, we’re in this the connection between Thomas: You have a taken recreationally. We continue to grow and attracting and growing together as communities the opioid crisis and brain doctor on call for you. You need to safeguard our bring on a new doctor jobs. within the county. I think injury? might send me a photo homes to make sure that perhaps every year to Second, I want to be when you put the partisan Bloom: Opioid use is of a rash and I could walk any medications that come meet the demand. There more of a regional partner divide aside, most people likely leading to something you through that. Or you from the hospital can’t be are only 100 primary care with the other counties want the same things. we call acquired brain might be concerned about accessed. physicians practicing and the City of Detroit. They want good schools injury by causing a lack an ear infection and I’d Burns: Have you seen in Detroit for 600,000 I don’t think Oakland for our families. They of oxygen to the brain want you to come in to be any new fads of injuries? residents. That’s one County has always been want good jobs. They after opioids—even small seen for that. Or you have Bloom: The powered doctor for every 6,000 perceived that way. I’ve want good health care amounts—have been your well visit. scooters are very popular ingested. Teenagers who residents. If you go north joined a number of boards and good wellness and Burns: If somebody has and we’ve seen a huge use are more than twice of Eight Mile into Oakland and have had quite a few prevention programs. If insurance can they still increase in concussion as likely to become opioid County there’s one meetings already with my we focus more on the and injuries to wrists, dependent once they be a member? primary care physician for counterparts in the region things that we all agree elbows and shoulders. become adults. Whether Thomas: Yes. We see every 600 residents. to make sure that Oakland that we want, and then We recommend wearing that is a part of the people who are uninsured, Burns: How can County is doing things fi gure out in an honest helmets all the time when addiction process or part under-insured, and fully someone become a that lift up the whole way how to move there, I on a bike or scooter and of the diffi culty with the insured. member? region so that we can all think we’ll be okay. That’s visible gear. brain making the decisions Burns: What are the Thomas: Go to be successful. the kind of executive I’m Burns: What are some on that we don’t know. membership advantages plumhealthdpc.com. Third is the health and trying to be.

SPONSORED BY: POWERED BY: COMMENTARY Enjoy Michigan roads — this may be as good as they get e new decade brings a new reality about Michigan’s roads: e quality of the pavement on which motorists will be driving in 2020 is the best it’s been since 2006. Chad All of those orange barrel slowdowns on the highways the past few summers are start- LIVENGOOD ing to pay o. But enjoy the smooth ride while it lasts, Michiganians (or Michiganders, if you will), cent). because the percentage of roads in poor con- ` Ditto for Wayne County (17 percent poor to dition is still growing. 45 percent). e Michigan Department of Transporta- TAMC’s data is compiled by state and tion’s pavement condition projections show county road agencies through annual sur- that 46 percent of all state and local roads veys of pavement conditions and published that are eligible for federal aid will be in poor in the type of online dashboards that were condition in 2020. at’s twice as many poor mandated by former Gov. Rick Snyder’s ad- condition roads as there were in 2006, ac- ministration in a move that added a corpo- cording to MDOT’s Transportation Asset rate boardroom feel to governance in Michi- Management Council. gan.

DANIEL SAAD DANIEL e upside is 28 percent of Michigan roads Snyder, a stereotypical data-driven corpo- are projected to be in good condition this rate decision-maker, required government year, topping the previous highwater mark of agencies large and small to put relevant met- COMMENTARY 24 percent in good condition set 14 years ago. rics into dashboards not just for public trans- e dierence between 2006 and 2020 is 54 parency purposes, but also to guide policy- percent of the state’s blacktop was rated in fair makers in their analysis of problems and condition 14 years ago. Today, it’s 26 percent. potential solutions. Ilitch family missing golden As one would reasonably expect, fair roads In Gov. Gretchen Whitmer’s failed bid last eventually become poor roads. year to get the Legis- And the deterioration from fair to poor has lature to pass a mas- PAVEMENT IN opportunity on United Artists accelerated in recent years, even as the state sive fuel tax increase, Legislature has approved record funding for the rst-year Demo- GOOD BYFRANCIS GRUNOW mum on the matter of the historic theater’s transportation through the 2015 legislation cratic governor spoke CONDITION WILL disposition. In fact, for as long as the Ilitch that is supposed to generate $1.2 billion more in point-of-no-return Most Detroiters are too family has owned the United Artists, little has for roads by the 2021 scal year. terms about the TOP OUT AT 33 young to remember the been done to meaningfully advance any rede- at plan was half-funded by a 7-cents- state’s crumbling in- PERCENT IN 2022 United Artists eatre be- velopment plan beyond artist renderings, per-gallon gas tax increase and a 20 percent frastructure, citing ing open. Only folks over splashy banners, and strategic cleaning and increase in vehicle registration fees in 2017. the data dashboards AND THEN START 60 might be old enough to shoring up. e remaining $600 million is coming from her predecessor left SLIPPING AGAIN know a time when the the- at the family who garnered so much the state’s general fund through a gradual behind. ater, located on Bagley just praise for its investment in the Fox eatre phase-in. And Snyder’s dash- AS THE 2020S o Grand Circus Park, was and adjoining oce renovation in the 1980s e state’s pavement condition shows boards don’t lie: ROLL ON. well maintained. Some se- would be so noncommittal to a very similar some alarming trends between 2006 (before Michigan’s road con- Francis Grunow niors may even recall hints reinvestment opportunity seems to suggest the Great Recession ravaged Michigan’s ditions are headed in is former chair of a faded “Spanish Goth- one long term strategy — the Ilitches never in- economy and tax base) and 2018: that direction. of the Arena ic” grandeur that famed tended to do anything with the United Artists. ` In Jackson County, the percentage of pave- Pavement in good condition will top out at District architect C. Howard Crane Unfortunately, it’s not unlike the fate of most ment in poor condition skyrocketed from 2 33 percent in 2022 — a year after the 2015 Neighborhood imbued in his 1928 movie buildings owned by the family. percent in 2006 to 33 percent — a 15-fold in- road-funding deal is fully funded — and then Advisory palace, smaller, but every In the case of the United Artists, it was also crease in miles of road in poor shape. Fair start slipping again as the 2020s roll on. Committee and bit as fantastically ornate squarely in the way of the site for Comerica condition roads rose 42 percent to 61 per- Based on the current taxpayer investment former executive as the Fabulous Fox, a few Park when plans were being nalized in the cent. and the cost of everything from gravel to la- director of blocks away. mid-1990s. You may remember the ballpark ` In Macomb County, less than 15 percent of bor, the state’s pavement forecast calls for Preservation is was the era of in- was rst slated to be west of Woodward. Rep- the pavement was rated in poor condition in poor condition roads to hover between 45 Detroit. tricate plaster detail, mo- resenting this process for the Ilitches was the 2016. At the end of 2018, this gure had tri- percent and 47 percent through 2030. saics in soaring vaulted same Emmett Moten, who had been chief de- pled to 45.5 percent — a three-fold increase In other words, barring some political ceilings and breathtaking velopment ocer in the Young Administra- in miles of road rated in poor condition. breakthrough in Lansing on long-term road balcony views. For an idea of the architectural tion, and was then handling land deals be- ` Oakland County’s roads in poor condition funding, Michigan’s bad roads are here to heritage hiding in plain sight, look to the Unit- tween the city and the Ilitches as vice president more than doubled from 390 miles (23 per- stay. ed Artists sister in Los Angeles, now rentable of Little Caesars Enterprises. Is that why the cent) to 878 miles (49 percent). event space that is part of the Ace Hotel chain. United Artists was gerrymandered out of the ` Emmet County went from 57 miles in poor Contact: [email protected]; It is exciting to think that the attached orange local Grand Circus Park historic district condition (21 percent) to 110 miles (37 per- (313) 446-1654; @ChadLivengood brick oce tower may be renovated with apart- boundary being drafted at the time? It would ments, joining the growing number of residen- certainly make demolishing it for a Tigers tial units downtown. However, the developer, parking lot much easier. Emmett Moten, claims that in order to make the residential project viable, the theater that See OPPORTUNITY on Page 9 gives the United Artists its name must be eliminated from the picture. And though the United Artists is listed on the National Register of His- MORE ON WJR toric Places, it is not locally designated, mean- `Listen to Crain’s Group Publisher Mary ing Detroit’s Historic District Commission can- Kramer and Managing Editor Michael Lee not prevent demolition. talk about the week’s stories every Monday Ilitch Holdings, owners of the United Artists morning at 6:15 a.m. Mondays on WJR 760

building for the last quarter-century, has been AM’s Paul W. Smith Show. DETROIT BUSINESS LIVENGOOD/CRAIN’S CHAD

Write us: Crain’s welcomes responses from readers. Letters should be as brief as possible and may be edited for length Sound o : Crain’s considers longer opinion pieces from or clarity. Send letters to Crain’s Detroit Business, 1155 Gratiot Ave, Detroit, MI 48207, or email [email protected]. guest writers on issues of interest to business readers. Email Please include your complete name, city from which you are writing and a phone number for fact-checking purposes. ideas to Managing Editor Michael Lee at [email protected].

8 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 MERGERS & ACQUISITIONS Drug maker Gemphire completes merger with NeuroBo Biopharmaceutical company faced setbacks with clinical trials of its lead drug gemcabene BYCHAD LIVENGOOD ing nonalcoholic Gemphire’s stock subsequently Gullans, who previously spent two rst as a board member and then be- fatty liver disease plunged after the FDA shut down the decades at the Harvard Medical came CEO in May 2018 with the in- Livonia-based drug maker Gem- that it acquired clinical trials, even after the company tent of taking gemcabene to market. phire erapeutics Inc. completed a from Pzer. reported successful trials on adult NeuroBo President and CEO John merger last week with Boston-based e company patients. IT’S UNCLEAR WHERE THE Brooks will remain in the top execu- NeuroBo Pharmaceuticals Inc. had a $30 million After Gemphire’s shareholders ap- NEW COMPANY WILL BE tive position in the newly combined through a stock swap that will create initial public of- proved the merger with NeuroBo, the company. a publicly traded company owned fering in August company’s board of directors ap- HEADQUARTERED AND It’s unclear where the new compa- primarily by NeuroBo shareholders. 2016. proved a reverse stock split of one WHAT WILL HAPPEN TO ny will be headquartered and what e newly combined company will Gullans It faced a series new share of the new company for will happen to Gemphire’s Livonia carry the NeuroBo Pharmaceuticals of setbacks with every 25 remaining shares. GEMPHIRE’S LIVONIA oce. A company spokesperson was name under the publicly traded gemcabene when the Food and Drug Gemphire President and CEO OFFICE. not available for comment last week. NASDAQ ticker NRBO. Administration halted clinical trials Steve Gullans will be one of six direc- When the merger was announced in 2018 after the health of some pa- tors for the new NeuroBo Pharma- School and Brigham & Women’s Contact: [email protected]; in late July, the deal called for about tients declined in a pediatric trial. ceuticals Inc. Hospital in Boston, joined Gemphire (313) 446-1654; @ChadLivengood 96 percent of the company to be owned by NeuroBo shareholders. e two companies did not disclose a dollar value estimate for the all-stock deal. As of Monday, Gemphire’s shares were valued at 30 cents per share and the company had a market cap of $4.5 million, less than half of its $10 million market cap when the merger was announced in July. Gemphire was a clinical-stage biopharmaceutical company that had one lead drug, gemcabene, for treat- YOU OPPORTUNITY From Page 8 WERE Fortunately, for the United Artists at least, Comerica Park nally landed on the east side of Woodward. And now, decades later, Moten wants to turn it into apartments. BORN at’s awesome. It seems like a no-brainer in the context of downtown’s burgeoning real estate market. But it’s not 1997 anymore. As Detroiters can’t we expect more? TO LEAD. A renovated United Artists theater to complement Detroit’s entertainment district would be deservedly one of the most important and im- NOW’S pressive preservation stories in De- troit. It would rival aspects of Gil- bert’s incredible Book Tower project currently underway, and would surely be seen as Chris Ilitch’s hom- THE age to his parents and their vision for restoring the Fox. And therein lies the rub. e looming question that only grows with each passing year is what does TIME. Ilitch heir and Ilitch Holdings Presi- dent and CEO Chris Ilitch actually believe? What is his vision for downtown now that Little Caesars Arena has been open for over two years? Preparing you for leadership in the world of His family is worth billions and owns over 60 percent of the property business is at the core of a Walsh education. in District Detroit, so much of it covered in asphalt parking lots and lan- It’s where academic excellence, real-world guishing under their watch for decades. experience, and an outstanding employment If District Detroit is ever going to amount to anything more meaning- rate come together to move your career ful than a half-baked idea, it will be forward. This is where leaders are made. because the Ilitches actually evolve their strategy beyond land specula- tion. ey must risk to spend the money needed to activate historic properties like the United Artists eatre, to inspire a new generation of investment that will ll in the gaps and create the active neighborhood the Ilitches claim they want, and that Detroiters deserve. walshcollege.edu ere’s no time like the present. Here’s to a new year and a new decade. And may the Ilitches resolve to do dierent in 2020. Or dispose of their properties to those who will.

JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 9 Stephen Ross

NEWSMAKERS THE NEWSMAKER OF THE YEAR STEPHEN ROSS Chairman and founder, The Related Cos.

BYKIRK PINHO

n October, the man behind the largest private real estate development in U.S. history o - cially put to rest the uncertainty surrounding the eastern gateway into downtown. Stephen Ross, the New York City-based developer of the $25 billion Hudson Yards project, announced that he and fellow billionaire real estate mogul Dan Gilbert were “IT IS NOT AN EASY building the Detroit Center for Innovation, THING, DOING a $300 million University of Michigan grad- uate school initiative for students in things SOMETHING THAT IS like mobility, AI, sustainability, cybersecuri- SO UNIQUE AND VERY ty, nancial technology and other elds. LARGE IN OF ITSELF. And there are signs that’s not all Ross has in mind in his IT’S CREATING A hometown. WHOLE CAMPUS IN IAs far as additional moves in Detroit, Ross says no nal DOWNTOWN DETROIT decisions have been made. ... IT’S A BIG But in speaking with him, a newfound bullishness is UNDERTAKING.” apparent. —Stephen Ross

Worth an estimated $7.6 billion as obstacles; in other places, the ob- of Dec. 16, Ross, the nephew of the stacles are insurmountable.” late Detroit businessman Max Fish- Ross’ rising engagement in his er, for years had been reluctant to hometown, as signied by the inno- directly invest in real estate in his vation center, is an encouraging hometown, although he stuck a toe sign for investment from a develop- in the water in 2017 when he put er known for making big bets on $7.5 million into a $27.5 million ambitious projects. housing project with the Ford Foun- “e innovation center will act as dation and Detroit-based e Plat- a catalyst for the future of Detroit,” form LLC. Ross said in an interview with “A lot of things happened in De- Crain’s. “A lot of schools are trying to troit,” he said. “e mayor has really get on board in understanding what turned that city around where it is needed with STEM courses, engi- should be attractive. at entails an neering, computer science, infor- awful lot. People are upbeat. Young mation science, business law. You people want to live there in down- are really creating the leaders of the town. It’s an attraction. You can feel future.” it. You have a mayor that’s looking e announcement capped o a to get things done and not create year of discussions on the project

ILLUSTRATIONW BY CHRIS MORRIS FOR CRAIN’S

10 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 Stephen Ross

1 5 9 9 6There’s0 always another0 tax code change coming.

and years of Mayor Mike Duggan, Gilbert and others prodding Ross, the founder of Related Cos., to invest in real estate We’re on it. in the city where he was born in 1940. When it’s complete, it’s also expected to have housing across buildings 10 to 15 stories high, a boutique hotel and conference center in the former Detroit Police Department headquarters at 1300 Beaubien St. and business incubator space on the 15-acre site of the now-demolished ASSURANCE | TAX | ADVISORY Wayne County Consolidated Jail project. e site has sat fallow for the better part of the decade, a county government albatross. After years of back cohencpa.com/michigan and forth with Wayne County on whether to complete it or build a new criminal justice complex elsewhere, the county and Gilbert struck a deal that gave him the site at Gratiot Ave- nue and I-375 for new mixed-use de- CRAIN’S CRAIN’S velopment, something the founder DETROIT @crainsdetroit DETROIT BUSINESS BUSINESS and chairman of Quicken Loans Inc. FOLLOW US: has long called for. All in, the UM Innovation Center could cost more than $750 million, with construction starting by the end of the year and wrapping up in 2023. Ross declined to say how much of his own wealth he is spending on it (Gil- bert is also a backer), but said in addition to his own contribution, a “sub- stantial amount of money” has been raised in preliminary commitments. Some in the University of Michigan community have opposed the project because they believe it is “antithetical to the university’s stated values of equity, empowerment, and community-centered public engagement,” according to a student petition. Ross acknowledged the innovation center — modeled after Cornell Tech, D E T R O I T ’ S an urban campus on Roosevelt Island in New York City — is ambitious, but remains condent. A variety of ap- provals are still needed for the project, and nancing structure and tax incentives or abatements have not yet been determined. “It is not an easy thing, doing something that is so unique and Shouldn’t business be taught where business is done? We think so. very large in of itself,” said The Mike Ilitch School of Business at Wayne State University doesn’t want students Ross, U-M’s largest donor, to just earn a degree. We want students to become business leaders for today and having contributed $350 million to the univer- tomorrow. And we’re doing that with unique academic programs, such as: sity, whose re- nowned business 2;8'68'2'<89,-6!2& 223=!ধ32 Sports and Entertainment Management college bears his name. “It’s creat- !;!$-'2$'!2&<9-2'992!£@ধ$9 <;313ধ='<66£@,!-2!2!+'1'2; ing a whole campus in down- These programs and a lot more are offered walking distance from global corporations in town Detroit ... the heart of the city. Because today, teaching business in Detroit makes as much sense it’s a big undertaking.” as conducting business in Detroit.

INNOVATE. IMPACT. INSPIRE. Learn more at ilitchbusiness.wayne.edu

JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 11 Tom Shea

FOCUS | NEWSMAKERS FRAN PARKER TOM SHEA Founding executive director, UAW Retiree Medical Bene ts Trust CEO, OneStream Software LLC, Rochester

BYSHERRI WELCH And given that the trust is one of BYTOM HENDERSON the largest health purchasers in the country, that model is something hen Fran Parker rst began reviewing the ear- other purchasers look at, she said. nicorns used to be as rare in Michigan as, well, ly benets covered by the UAW Retiree Medical In 2008, shortly after retiring as unicorns. e word is venture-capital slang for a CEO of Health Alliance Plan of Mich- Benets Trust, she found something amusing. igan, Parker became a consultant to growing tech company that has hit a valuation of Oce visits weren’t covered for retirees. But the trust. She was named executive at least $1 billion. It was rumored that unicorns Wfertility treatments were. director in 2009, charged with devel- Uexisted, maybe even plentifully, in Silicon Valley or along oping the consolidated plan to pro- Like vehicles built in Detroit, the bodies were dierent, vide health care benets for retirees Route 128 in Boston, but they were nonexistent here. but the chassis — or underlying benets oered — were the of General Motors Co., Ford Motor ere weren’t even rumors of their existence, and cer- Co. and Chrysler LLC, now Fiat same for retirees as for active individuals, even though their Chrystler Automobiles, through tainly no sightings. needs were dierent, she said. three separate automaker funds. at has changed. Fran ParkerData was a cornerstone of the foundation she put in place to track costs Parker, 65, the UAW trust’s founding fectively managing and growing the and target benet enhancements. In October 2017, Ann Arbor-based few of us sitting here writing code. executive director, retired at the end of assets,” Udow-Phillips said. Duo Security Inc., an internet secu- e thesis for bringing on KKR December after spending the past de- See PARKER on Page 19 rity company, became a unicorn wasn’t just capital, but raising our cade creating a model for retiree care when it raised a funding round of prole, too. It was ‘Look, one of the and a solid foundation for the trust, $70 million, then the largest in state best private-equity rms in the growing its assets by $7 billion to history, to give it a valuation of $1.17 world is behind us.’” $56.7 billion by the end of 2018 and billion. at proved conservative Shea said news of the deal helped returning the plans to solvency. when the company was sold to San OneStream land a CFO in Novem- But she went beyond that,us- Jose, Calif.-based Cisco Systems Inc. ber, Bill Koefoed, with a back- ing her position as head of a last year for $2.35 billion. ground at Microsoft and other large institutional investor is past June, Detroit-based big tech rms. to nudge publicly traded StockX, the “stock market for “KKR brought us a level of companies to look at things” such as luxury sneakers — excitement that has made diversity on their and one of Dan Gilbert’s portfolio hiring a lot easier. We’re boards and launch- companies — raised a state funding scaling the business,” ing a biennial con- record of $110 million in a single said Shea. Employment ference to shine a round, which pushed its valuation is at 420 now, up from light on the lack of well past $1 billion. 250 when the deal was an- diversity among in- Duo was in Ann Arbor, where it’s nounced, and is expected to vestment managers. common for tech companies to get hit 600 or so by the end of this ose eorts are large funding rounds, and Gilbert year. About 120 work in two oc- sparking a growing is, well, Gilbert. Word of another es in Rochester. “We’re looking at number of institutional state unicorn took nearly everyone either a third oce in Rochester or investors in other parts by surprise, in part because it is consolidating into one big oce.” of the country to also look based in Rochester, not exactly a e company has other oces in at diversity among board tech hot bed, and in part because of Atlanta; Stratford, Conn.; Lucerne, members and portfolio how it got that unicorn status. Switzerland; Manchester, England; managers. In February, it was announced and e Hague, Netherlands. Shea At launch, the trust had a that New York-based KKR & Co. Inc., said the KKR funding will help the combined $26.9 billion short- one of the country’s oldest and most company expand into other geog- fall, which ballooned in 2011 to legendary private-equity rms, had $33 billion due to stock market invested $500 million to assume a “KKR BROUGHT US A declines. majority stake in OneStream Soft- In December, Parker said, she was ware LLC, a provider of nance- and LEVEL OF EXCITEMENT performance-management soft- THAT HAS MADE HIRING A IN DECEMBER, PARKER SAID, SHE ware for mid-sized and large companies, including UPS, Sagent Phar- LOT EASIER. WE’RE WAS HAPPY TO REPORT THAT ALL maceuticals, Post Holdings Inc., SCALING THE BUSINESS. THREE TRUSTS WERE FULLY FUNDED Fruit of the Loom and e Carlyle Group. e investment pushed the WE’RE LOOKING AT AT 100 PERCENT OR BETTER. company’s valuation north of unicorn requirements. EITHER A THIRD OFFICE happy to report that all three trusts e company’s CEO, Tom Shea, IN ROCHESTER OR were fully funded at 100 percent or said he turned down oers of equi- better. ty capital in the past because the CONSOLIDATING INTO at’s good news for the 631,240 company has been protable since ONE BIG OFFICE.” retirees and their dependents cov- it launched operations in 2012. —Tom Shea ered as of Dec. 1, 2019, and the pro- “But when we got to 2018, and we jected 72,600 more expected to join were aproaching the goal we had raphies and hopes KKR can help Hyperion was sold to Oracle. the trust upon retirement. set for ourselves of becoming a OneStream land big government Noncompete agreements kept ere was heavy skepticism early company with revenue of $100 mil- contracts. David Petraeus, a retired him and his partners from found- on that the trust could last the 80 or lion, I thought, ‘How can we scale U.S. Army general and former di- ing OneStream until 2010, though it so years needed to meet the needs of this so we can become a $500 mil- rector of the Central Intelligence didn’t really launch until 2012. eligible retirees, said Marianne lion company? Let’s talk to an in- Agency, joined OneStream’s board “We all had money from the sale Udow-Phillips, executive director of vestment banker focused on the after the deal closed. of UpStream, so for the rst two the Center for Health and Research right partner.’” OneStream has been a bit of deja years we just did R&D. We didn’t Transformation in Ann Arbor, on He knew some local investment vu for Shea. He and two of the com- hang out a shingle and say, ‘Let’s whose board Parker serves. But bankers with Wells Fargo and they pany’s founders had founded an- get our rst 10 customers.’ Late in the skepticism is gone. soon introduced Shea to KKR. other data-collection software 2012, we said ‘Let’s get that custom- “(Parker) has “It’s really been exciting and sur- company called UpStream Soft- er one through four, and then let’s been able to keep real,” said Shea on the funding and ware in 2000. It was sold to Hyperi- get ve through 10.’” the retirees at the its aftermath. “I keep thinking back on in 2006. Shea stayed with the Shea said the company doesn’t center, while ef- to the days when there were just a company for a year, leaving when disclose revenue but said he wouldn’t

12 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 ILLUSTRATIONS BY CHRIS MORRIS FOR CRAIN’S Tom Shea

Gary Jones GARY JONES Former United Auto Workers president

BYKURT NAGL

little more than a week after the longest automotive CEO, OneStream Software LLC, Rochester strike in a decade ended, the man who led it, Gary BYTOM HENDERSON Jones, stepped down from his post as president of the United Auto Workers union. nicorns used to be as rare in Michigan as, well, AA couple of weeks later, Jones, who had promised unicorns. e word is venture-capital slang for a to rid the union of corruption, resigned in disgrace. growing tech company that has hit a valuation of He is one of more than a dozen ocials ensnared at least $1 billion. It was rumored that unicorns in a federal corruption probe that has tarnished the Uexisted, maybe even plentifully, in Silicon Valley or along UAW’s reputation and called its future into question. Route 128 in Boston, but they were nonexistent here. ere weren’t even rumors of their existence, and cer- e six-week strike of General Mo- Jones rst joined the UAW at a Ford union negotiating “three really good tors Co. caused some stir, but its eco- glass plant in Oklahoma in 1975, on contracts” with the GM, Fiat Chrysler tainly no sightings. nomic impact was relatively minimal the heels of the Watergate scandal and and Ford Motor Co. recently and the au- at has changed. and brief, said Marick Masters, a pro- tail end of a recession. UAW member- tomakers’ announcements of multibil- fessor at Wayne State University with ship would reach its peak in 1979 at lion-dollar investments and new jobs. an expertise in labor unions. e 1.5 million members, which included For now, though, the more urgent few of us sitting here writing code. UAW corruption saga, on the other the Canadian Auto Workers before it matter for the union is how to regain e thesis for bringing on KKR hand, has been a slow and destructive splintered from the UAW. trust within its ranks. at means mit- wasn’t just capital, but raising our burn for the past 2 1/2 years. Today, the UAW represents around igating damage to its reputation and prole, too. It was ‘Look, one of the “ ere’s no precedent for this at 400,000 workers, a number that has scrubbing itself clean of ex-ocials best private-equity rms in the the UAW,” Masters said. “ e UAW is remained steady since the Great Re- such as Jones who have personied world is behind us.’” grappling with structural and institu- cession, which cost the union 150,000 the corruption scandal. Shea said news of the deal helped tional problems. It’s really a very members, according to UAW spokes- “We are committed at the UAW to OneStream land a CFO in Novem- weakened organization.” man Brian Rothenberg. Fueled by glo- take all necessary steps including con- ber, Bill Koefoed, with a back- Jones became president of the De- balization, foreign carmakers have tinuing to implement ethics reforms ground at Microsoft and other troit-based union in June 2018 after strengthened their foothold since the and greater nancial controls to pre- big tech rms. more than 40 years as a member. At the economic downturn a decade ago, vent these type of charges from ever “KKR brought us a level of time, the union was in early damage challenging the dominance of De- happening again,” Gamble, who is set excitement that has made control mode. A former Fiat Chrysler troit’s Big 3 and inuence of the indus- to lead the organization until 2022, said hiring a lot easier. We’re Automobiles nancial analyst had try’s largest union. in a November statement. scaling the business,” been charged a year earlier with Rothenberg said the narrative of the “I think it will take a generation to said Shea. Employment concealing payments to ex-UAW declining UAW is countered by the come back,” Masters added. is at 420 now, up from Vice President General Holieeld. 250 when the deal was an- It was beginning to look like the la- nounced, and is expected to bor union had a deep-rooted corrup- hit 600 or so by the end of this tion problem. Ocials thought a low- year. About 120 work in two oc- key union man like Jones could es in Rochester. “We’re looking at provide a good contrast to that image. either a third oce in Rochester or Unlike many of his predecessors, consolidating into one big oce.” Jones kept out of the spotlight. But e company has other oces in talks of his alleged lavish and shady Atlanta; Stratford, Conn.; Lucerne, spending began to bubble up not long Switzerland; Manchester, England; after he took oce. In the midst of con- and e Hague, Netherlands. Shea tract talks, his Canton home was raid- said the KKR funding will help the ed by the FBI in August, about three company expand into other geog- weeks before the strike against GM started. e raid marked a major ad- “KKR BROUGHT US A vancement of the FBI’s investigation and included the home of Dennis Wil- LEVEL OF EXCITEMENT liams, the former UAW president who THAT HAS MADE HIRING A groomed Jones as his replacement. Jones has not been formally LOT EASIER. WE’RE charged. He is accused of helping to embezzle more than $1.5 million from SCALING THE BUSINESS. the union, along with several other for- WE’RE LOOKING AT mer ocials. Ten people tied up in the scandal have been sent to prison so far. EITHER A THIRD OFFICE In early November, Jones requested IN ROCHESTER OR a leave of absence, and Rory Gamble, vice president of the UAW-Ford de- CONSOLIDATING INTO partment, stepped in to replace him. ONE BIG OFFICE.” Later that month, Jones permanently resigned following a UAW board vote —Tom Shea to remove him and former Regional raphies and hopes KKR can help Hyperion was sold to Oracle. dispute a published report earlier Director Vance Pearson, who faces OneStream land big government Noncompete agreements kept this year that said the company had multiple charges in the scandal. contracts. David Petraeus, a retired him and his partners from found- revenue of $88 million last year. “As of Jones became the rst UAW leader U.S. Army general and former di- ing OneStream until 2010, though it mid-year, we’ve had in excess of 60 to leave mid-term since one of its rector of the Central Intelligence didn’t really launch until 2012. percent growth,” he said. most revered leaders, Walter Re- Agency, joined OneStream’s board “We all had money from the sale PE companies invest in compa- uther, died in a plane crash in 1970. after the deal closed. of UpStream, so for the rst two nies with the idea of an protable “ ere is no doubt that Jones is at OneStream has been a bit of deja years we just did R&D. We didn’t exit, most likely in the form of an violence with the best interests of rep- vu for Shea. He and two of the com- hang out a shingle and say, ‘Let’s initial public oering for On- resenting the working people, if all pany’s founders had founded an- get our rst 10 customers.’ Late in eStream. “Right now, we’re focused the allegations are true,” Masters said. other data-collection software 2012, we said ‘Let’s get that custom- on scale,” said Shea. “An IPO is the Jones could not be reached for company called UpStream Soft- er one through four, and then let’s eventual goal, but it’s not front-bur- comment. His attorney, J. Bruce ware in 2000. It was sold to Hyperi- get ve through 10.’” nered. It won’t be in the next year or Maeo, who works for Philadel- on in 2006. Shea stayed with the Shea said the company doesn’t so. We have to do the work and phia-based Cozen O’Connor PC, de- company for a year, leaving when disclose revenue but said he wouldn’t scale the business.” clined to comment.

ILLUSTRATIONS BY CHRIS MORRIS FOR CRAIN’S JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 13 Suzanne Shank

FOCUS | NEWSMAKERS SUZANNE SHANK ANDREW President and CEO, Siebert Williams Shank & Co., LLC BYANNALISE FRANK BRISBO

fter the long coming together of two Wall Street-walking Executive director, Michigan entrepreneurs, Suzanne Shank is leading the U.S.’s big- Marijuana Regulatory Agency gest minority- and women-owned investment bank in transaction volume. BYDUSTIN WALSH A e nancial power player stationed in Detroit has merged her Siebert Cisneros Shank & Co. LLC — a major municipal ales of marijuana for recreational consumption bond underwriter with work in transportation, water and sew- became legal in Michigan on Dec. 1 last year. It er, airport nancing and more — with corporate bonding was the culmination of more than a decade of ad- titan Williams Capital Group LP. vocacy work to get the issue to voters and another Syear of regulatory frameworking for the rst legal sales to “ ey had a small public nance and Williams both spending long occur in Ann Arbor last month. practice and ... we had the opposite hours on it. Marijuana — its use and the regulated industry it sustains prole,” said Shank, who co-founded “It easily felt like half my time,” said Siebert in 1996. “ is merger, for me, Shank, a Bloomeld Hills resident. — is controversial. But the man behind implementing the really had us grow leaps and bounds While both companies crunched will of the voters and creating the rules under which the le- in one fell swoop.” numbers, Williams, now chairman of e deal closed Nov. 4. e merged the combined enterprise, said he and gal marijuana industry may blossom is anything but. rm, Siebert Williams Shank & Co., Shank also sussed out how their Andrew Brisbo is a square. LLC, is dual-headquartered in New philosophies aligned. ey are both York City and Oakland, Calif., with 15 entrepreneurs, accustomed to risk. Brisbo is a regulator personied, oces and more than 750 institu- “I found out you can learn a lot always neatly dressed and well spo- tional investors. But, as its president about a person when you negotiate ken on the state’s role in refereeing and CEO, Shank will continue to di- with them,” he told Crain’s. “ rough- the industry. rect the ship from a downtown De- out the entire negotiations, it’s a lot of For the past three years, he’s over- troit high-rise, 150 West Jeerson. give and take, and I think that we each seen the development of the rules gov- Shank, a 30-year nancial services recognized and felt comfortable that if erning the medical marijuana market professional with a past in structural there was something that was import- as a result of a 2016 law, and since vot- engineering, had known Williams ant to one of us, we would try to do ers approved recreational sales in No- Capital founder Christopher Wil- what we could to accommodate that.” vember 2018, he has met with thou- liams for around two decades. Bond Buyer reported in January sands of stakeholders to draft and that Siebert Cisneros Shank was one implement that industry’s rollout. of the top 25 municipal bond under- “THEY HAD A SMALL writers in 2018 with $5.64 billion PUBLIC FINANCE based on omson Reuters data. In “ALLOWING ONE AGENCY the last ve years, Siebert has been TO OVERSEE THE PRACTICE AND ... WE HAD involved in almost 2,000 municipal THE OPPOSITE PROFILE. nancings, a press release at the time PROGRAMS AND MAKE ALL of the merger said. It was lead man- THE DECISIONS SPED THIS MERGER, FOR ME, ager on over 200 of those totaling al- REALLY HAD US GROW most $30 billion. Williams Capital THINGS UP CONSIDERABLY.” has worked on debt and equity - —Andrew Brisbo LEAPS AND BOUNDS IN nancing for more than 65 of the For- ONE FELL SWOOP.” tune 100 and has worked on more “Broadly speaking, despite the fact than 900 corporate debt and equity that these laws have seen a lot of focus —Suzanne Shank oerings, according to the release. because it’s marijuana, looking at it e company’s infrastructure through our lens, we’re setting up “Because we didn’t compete head- deals span the nation, but Shank’s lo- things we’ve done before,” Brisbo said. to-head in a lot of situations, we al- cal inuence is also indubitable. “We know the ins and outs of regula- ways had a pretty friendly, collegial Crain’s named the Georgia native tion and establishing frameworks.” relationship,” Shank said of Williams. among its Most Connected in the re- Brisbo has spent his entire career ey had several conversations gion in 2015. She was also one of in Michigan’s regulatory compliance over the last 10 years or so and once Crain’s 100 Most Inuential Women landscape — save a year driving a got as far toward a tie-up as a in 2016 and a 40 Under 40 honoree in milk truck in Greater Lansing imme- non-disclosure agreement, accord- 1998. She is on Consumers Energy’s diately after graduating from Central ing to Shank. But the business is very board of directors, as well as boards Michigan University with a bache- “deal-oriented” and it can be hard to including Detroit Institute of Arts, lor’s in leisure services administra- make room for long-term strategic and Detroit Regional Chamber. tion. He wanted to lead a parks and planning. “I never really aspired to be an en- recreation department. en, about a year ago, Shank was trepreneur or a CEO. My rst career In 2004, he joined the state as a reg- brainstorming how to gain more was an engineer,” Shank said. “I never ulation ocer for the Michigan Gam- market share with the head of her thought we’d do a billion-dollar deal ing Control Board, inspecting and incorporate group. ey discussed as a lead manager. (Now I) y around vestigating Detroit’s three casinos for combining with a rm with “strong the country and see major infrastruc- regulation compliance. But he quickly ethics and values — not always easy ture projects my rm helped nance moved into a management role as the to nd on Wall Street.” ey reached ... it’s great work ... You know for us, I branch manager of a Secretary of out to Williams. think, we really want to be recognized State oce in Ann Arbor. He moved What made it work this time? Sie- for our value-add, more than our mi- on to other branches, but stayed with bert had hired a bench of deeply nority rm designation. And I think the state’s motor vehicle licensing de- knowledgeable merger and acquisi- that it’s because of our strong perfor- partment for more than three years. tion professionals whose in-house mance and execution that we get He became an analyst for the Bu- experience helped, she said. And the hired over and over again by our cli- reau of Commercial Services inside commitment was deeper, with Shank ents. We live by repeat business.” the Department of Licensing and

14 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 ILLUSTRATIONS BY CHRIS MORRIS FOR CRAIN’S Andrew Brisbo

ANDREW BRISBO Executive director, Michigan Marijuana Regulatory Agency

BYDUSTIN WALSH Robin Schneider, executive director of the Michigan Cannabis Industry Association, praises Bris- ales of marijuana for recreational consumption bo for streamlining the licensing became legal in Michigan on Dec. 1 last year. It process for marijuana business. But she faults Brisbo for what she was the culmination of more than a decade of ad- describes as his agency’s “cowboy vocacy work to get the issue to voters and another move” to start recreational marijua- Syear of regulatory frameworking for the rst legal sales to na sales on Dec. 1, several months ahead of schedule amid a dwindling occur in Ann Arbor last month. supply of cannabis for medical and Marijuana — its use and the regulated industry it sustains recreational use. She described the sped-up start — is controversial. But the man behind implementing the day as irrational and “not well will of the voters and creating the rules under which the le- thought out” during a Dec. 13 interview on WKAR-TV’s “O e Record.” gal marijuana industry may blossom is anything but. “From a national drug policy per- Andrew Brisbo is a square. spective, this is not what the rollout of a responsible adult-use program Brisbo is a regulator personied, Regulatory A airs, primarily focused looks like,” Schneider said. “And I always neatly dressed and well spo- on occupational licensing before be- hesitate to say, but unfortunately I ken on the state’s role in refereeing coming a manager and then the li- think Michigan is going to become the industry. censing division director. the national model of how not to roll For the past three years, he’s over- When the state got serious about out an adult-use program.” seen the development of the rules gov- implementing the medical marijua- Brisbo said the decision was made erning the medical marijuana market na sales framework in 2017, then to push forward to combat the state’s as a result of a 2016 law, and since vot- LARA Director Shelly Edgerton already strong black market sales of ers approved recreational sales in No- tapped Brisbo to create a team to marijuana. vember 2018, he has met with thou- draft the rules. “We put that provision forward in sands of stakeholders to draft and e medical rollout was marred by July in order to provide an opportunity implement that industry’s rollout. a licensing board consisting of gov- for the adult-use side of the market to ernment outsiders, leading to a move ahead with actually providing slow approval process and waves access to consumers in Michigan,” “ALLOWING ONE AGENCY of application denials before it Brisbo said. “e concept here, TO OVERSEE THE even got o the ground. broadly speaking, (is) there are con- “is industry and the regu- sumers in Michigan who are ac- PROGRAMS AND MAKE ALL latory program are under a cessing products one way or the THE DECISIONS SPED constant state of evaluation,” other. e safest way to (buy mari- Brisbo said. “A lot of what had juana) is through the regulated THINGS UP CONSIDERABLY.” to be done when the board was market with a safer product because —Andrew Brisbo there took too long. e internal of the testing procedures.” process that was included in the ap- But that rollout was rocky, as only “Broadly speaking, despite the fact plication process relied on a group of four adult recreational stores were that these laws have seen a lot of focus ve external people — the mechanics able to get approval and open by Dec. because it’s marijuana, looking at it of that took a lot of time and energy.” 1 — netting a total of only $221,000 through our lens, we’re setting up Gov. Gretchen Whitmer agreed during the rst day of sales. By com- things we’ve done before,” Brisbo said. and abolished the board with an ex- parison, rst-day sales in Colorado “We know the ins and outs of regula- ecutive order and combined the on Jan. 1, 2014, exceeded $1 million. tion and establishing frameworks.” state’s medical and recreational li- Product shortages have already Brisbo has spent his entire career censing agencies into one — the gripped the industry, spiking legal in Michigan’s regulatory compliance Marijuana Regulatory Agency — and marijuana prices as high as $500 per landscape — save a year driving a put Brisbo in charge in March 2019. ounce, hundreds of dollars above milk truck in Greater Lansing imme- “Allowing one agency to oversee black market prices. diately after graduating from Central the programs and make all the deci- But Brisbo is not fazed. Michigan University with a bache- sions sped things up considerably,” “e market is certainly going to be lor’s in leisure services administra- Brisbo said. volatile in the early stages,” he said. tion. He wanted to lead a parks and e medical marijuana industry “e medical market hasn’t stabilized recreation department. began to ourish, with dispensaries yet, but the voters overwhelming In 2004, he joined the state as a reg- and grow operations cropping up all passed the (recreational marijuana) ulation ocer for the Michigan Gam- over the state. ballot initiative. ere was a short ing Control Board, inspecting and in- Now all Brisbo had to do was time for setting up the program. We vestigating Detroit’s three casinos for transfer that knowledge to the adult- took the medical side that was on regulation compliance. But he quickly use recreational side and get it up wobbly legs and through the will of moved into a management role as the and running. the voters, we have broadened the branch manager of a Secretary of Eight months after voters legalized market. It’s going to take time for the State oce in Ann Arbor. He moved recreational marijuana, the agency market to catch up. is can be a divi- on to other branches, but stayed with surprised the budding marijuana in- sive issue. e interests of public safe- the state’s motor vehicle licensing de- dustry by releasing emergency or- ty, business and municipal control. ... partment for more than three years. ders in July that would allow for rec- Individuals with a narrow focus on He became an analyst for the Bu- reational sales on Dec. 1, 2019, what we do can lose the complexity of reau of Commercial Services inside several months ahead of the planned these competing factors. I’m still con- the Department of Licensing and start in early 2020. dent the market will succeed.”

ILLUSTRATIONS BY CHRIS MORRIS FOR CRAIN’S JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 15 David Provost

FOCUS | NEWSMAKERS

16 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 ILLUSTRATIONS BY CHRIS MORRIS FOR CRAIN’S Mark Stewart

Provost’s marching or- vate Bancorp and the next year he ders to TCF Bank CEO was back on the hunt for a new bank Craig Dahl are to remain — this time teaming up with Detroit “acquisition ready” as the real estate developer Gary Torgow. new bank headquartered in In the new bank management MARK STEWART Detroit starts to go after structure, Torgow serves as executive commercial and business chairman of the board TCF Financial COO, Fiat Chrysler Automobiles clients that have long had Corp., the holding company for TCF their money deposited at Co- Bank. Provost carries the title of execu- merica Bank or national bank tive vice chairman of the board and North American operations brands such as JPMorgan Chase executive chairman of TCF Bank. & Co., the No. 2 and No. 1 banks by Tom Shafer holds the title of presi- BYDUSTIN WALSH total deposits in Detroit. dent and chief operating o cer of TCF “We have 99 percent of the em- Bank and COO of the holding compa- ployees are working organic growth ny. He became part of Provost and ark Stewart landed in the deep end of negotia- and building a great core bank,” Pro- Torgow’s team in 2011 before his War- tions between FCA and the city of Detroit when vost said. “And then we have a hand- ren, Ohio-based bank, First Place ful of us who are actually looking at Bank, was acquired in 2013 by Talmer he was hired in January 2019 to lead the automak- strategic planning for other banks Bank, the Troy-based nancial institu- er’s North American operations. Late CEO Sergio we might want to merge with tion Provost and Torgow used to even- MMarchionne jump-started discussions years earlier with or acquire.” tually merge with Chemical Bank. Provost spent 13 years e merger with TCF Bank ex- Mayor Mike Duggan about a new factory to assemble the at the former Manufac- panded Chemical Bank’s reach be- next-generation Jeep Grand Cherokee and a three-row Jeep turers National Bank in yond its main operations in Michi- Detroit (which later gan and Ohio into Illinois, Wisconsin SUV, but now it was Stewart’s to nish. was acquired by Co- and Minnesota, where the TCF e deal in Detroit was ambitious — to convert its Mack Av- merica Bank) before brand originated when it was known he co-founded the as Twin City Federal. enue engine plants on Detroit’s east side into a new assembly Bank of Bloomeld Dahl had already built out a leas- plant as well as retool the Jeerson North Assembly plant. Hills in 1989 and its ing business with operations in met- subsidiary, e Pri- ro Detroit that Chemical Bank did e new $1.6 billion Jeep plant in “OUR A, B AND C PLANS vate Bank. not have. Detroit is the centerpiece of a $4.5 In 2006, Provost While Provost and a small team billion investment to retool and WERE TO MAKE THIS sold the Bank of of upper management at TCF Bank modernize several assembly sites in WORK.” Bloomeld Hills to are looking for M&A opportunities, Southeast Michigan, including en- Chicago-based Pri- the new TCF Bank is hiring bankers hancements for production of elec- —Mark Stewart in Chicago, Minneapolis, Milwau- tried vehicles. But to open that kee and Denver to use the bank’s plant, FCA needed the city to as- Avenue engine plant that will capture existing retail banking operations semble the necessary land, and $93 million in local and school taxes to go after new commercial busi- the company set a 60-day dead- generated at the site over 30 years. ness. line to get it done. ose taxes will go toward repaying “If you can handle the busi- “We really needed that the Detroit Browneld Redevelopment ness customers, you can handle tight timeline to make the Authority, the city of Detroit and the most customers,” Provost said. launch we were working to- Michigan Strategic Fund for loans all “To be able to do that, you wards,” Stewart said. “It is three governmental entities are incur- have to have relationships really important (for FCA) ring to develop the plant site for FCA. and you have to have prod- to bring that full-size SUV For those loans, the city of Detroit ucts and services. at is to market (as soon as ensured Detroiters would get rst what we’re building out.” possible).” dibs on the projected roughly 5,000 In Detroit, the disap- e Duggan adminis- jobs to be created in the city through pearance of locally-based tration was able to se- a $35.2 million community benets business banks was “real- cure the 215 acres agreement. FCA began accepting ap- ly one of the reasons our around the Jeerson plications from Detroiters in August. team in Gary Torgow and Mack Avenue More than 12,000 Detroit residents and Tom Shafer decided plant to secure a deal qualied to apply to FCA by attending to move Chemical’s head- with FCA. e city’s Detroit at Work Job Readiness program- quarters to downtown De- land dealings includ- ming. Interviewing began in November. troit,” Provost said. ed a controversial land e FCA Detroit wages for production e bankers are trying to swap with Moroun-owned assistants start at $17 per hour, tempo- make their presence known in Crown Enterprises Inc. e rary employees start at $15.78 and Detroit, donating $5 million to city struck a deal with the Mo- skilled trades employees earn $34.72, neighborhood redevelopment rouns to pay $43.5 million and swap according to Detroit at Work. and buying the naming rights to the 117 acres of land in return for 82 acres Stewart said he’s most proud of the former Cobo Center (now called TCF near the plants. automaker’s commitment to hiring Hetfelt Catulatis to Center). Stewart said the automaker had Detroiters. TCF Bank broke ground in the contingency plans for other sites if the Construction on the project start- Stephen M. Ross fourth quarter of 2019 on a new Detroit land could not be acquired, ed in May, with an expected comple- 20-story headquarters at Woodward but none were taken seriously. tion date in the fourth quarter of CRAIN’S 2019 NEWSMAKER OF THE YEAR Avenue and Elizabeth Street — across “Our A, B and C plans were to 2020. e only thing that could slow from Comerica Park — that's slated to make this work,” Stewart said. “A lot down that timeline is a harsh Michi- open by the rst quarter of 2022. of locations were looked at, but May- gan winter, Stewart said. Your long and generous history of support Provost doesn’t mince words or Duggan asked Sergio to give him “We’re a little concerned about a when asked if the bank’s Detroit time to make the pitch. e last as- (polar) vortex hitting us,” Stewart and innovation is inspiring. We thank strategy is aimed at taking on Co- sembly plant (built in Detroit) was 30 said. “We’re micromanaging the con- you for your help in propelling U-M, merica Bank. years ago, which was ours. Really, struction, we just need Mother Na- Comerica’s 2007 decision “in the our eorts were to make this work, ture to cooperate.” Detroit and our state into the future. middle of the night” to move its not on the contingency plan.” Now at a year back in the automo- headquarters to Dallas gives the new e FCA deal also received ample tive industry — before Amazon, he TCF Bank an opportunity to position tax incentives — something Stewart was at ZF/TRW — Stewart said he’s itself as the local business bank of became familiar with in his last job having the time of his life. A self-pro- choice, Provost said. as vice president of operations for claimed “Jeep guy,” Stewart recently “e fact that they really are con- Amazon, managing customer fulll- acquired his rst car, a Jeep CJ5. centrating in areas outside of Michi- ment across 200 facilities with “ere’s an ongoing dialogue of gan leaves a real question as to why 180,000 employees. me being a car guy. It’s in my blood- the state would continue to support e Michigan Strategic Fund ap- stream,” Stewart said. “It’s good to be them,” Provost told Crain’s. “And it’s proved a browneld remediation plan back. I’ve totally loved this last year in a great opportunity for us.” for redevelopment of the idled Mack automotive.”

ILLUSTRATIONS BY CHRIS MORRIS FOR CRAIN’S JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 17 Gretchen Whitmer

FOCUS | NEWSMAKERS GOV. GRETCHEN M. ROY WILSON President, Wayne State University WHITMER BYJAY GREENE 49th governor of Michigan Roy Wilson, M.D., is entering his seventh year as president of Wayne State University with a BYCHAD LIVENGOOD portfolio of accomplishments but also with half of the university’s board of governors hen Gov. Gretchen Whitmer assesses her rst year M.wanting him red. in oce, she downplays the political “acrimony” surrounding her rst state budget and stalled-out Wilson, 66, an ophthalmologist road-funding plan and ticks o other headlines. and researcher who has published papers on glaucoma and blindness W“We’ve announced more auto jobs and more auto investment in populations from the Caribbean to in the state than probably any governor has, at least in the last 50 West Africa, previously has served as deputy director for strategic scienti c years,” Whitmer said in a mid-December interview with Crain’s. planning and program coordination at the National Institute on Minority Although some of the projects were road repairs and incorporate re - Health and Health Disparities of Na- under development before Whitmer nancing school employee pension tional Institutes of Health. He also took oce, the Detroit 3 automakers payments into a longer-term solution. was dean of the medical school at alone in 2019 announced $9 billion of Whitmer vetoed $375 million in Creighton University in Omaha. investment in Southeast Michigan one-time funds for roads and bridg- e board conict started in ear- auto plants tied to the eventual cre- es, including a dedicated $68 million nest during the fall of 2018 when ation of about 10,800 new jobs. line-item to replace four aging bridg- Wayne State was nalizing its letter of Whitmer signed two pieces of leg- es that she held press conferences on intent to replace Detroit Medical islation that seemed improbable or under to demonstrate the need to Center with Henry Ford Health Sys- when she was sworn into oce on replace them. tem as its primary teaching hospital. New Year’s Day 2019: a major over- “One-time dollars to x a handful of WSU has had an acrimonious rela- haul of Michigan’s no-fault auto in- bridges is about the least ecient and surance law that will make lifetime eective way that you can spend dollars “NOW I HAVE A GREATER medical coverage optional and legal- in the transportation budget,” Whitmer izing sports and online gambling. said. “ese bridges aren’t something LEVEL OF COMMITMENT TO e Democratic governor said her that you just write a plan overnight for DO WHAT I HAVE TO DO FOR use of executive power to set admin- and execute the next week.” istrative rules will eventually “im- Whitmer’s original long-term THE BENEFIT OF WAYNE prove the quality of people’s lives.” road-funding proposal includes a STATE AND THE PEOPLE OF “e overtime rules, when they’re plan by the Michigan Department of enacted, will give 200,000 people in this Transportation to bundle together DETROIT.” state, hard-working people, a raise that’s 1,100 bad bridges across the state for “WE’VE DONE —M. Roy Wilson long overdue,” she said of proposed a $1 billion, ve-year replacement SOME WONDERFUL rules to expand overtime pay eligibilty. blitz aimed at getting contractors to tionship with DMC since the late Whitmer made national headlines bid on the jobs in bulk. THINGS IN THIS 2000s, especially since it became a in September when she moved to ban Rebuilding hundreds of structurally STATE IN THE for-pro t hospital in 2011. the sale of avored e-cigarettes, just as obsolete bridges on scale “takes a con- In a December 2018 board meet- public health ocials were becoming siderable amount of planning and real, LAST 12 MONTHS ing, three governors — Michael Bu- increasingly alarmed about the po- long-term investment,” Whitmer said. AND WE’RE suito, M.D., Sandra Hughes O’Brien tential health risks of vaping, particu- “e most expensive, inecient way and Dana ompson — voted against larly among teenagers. that we can do infrastructure is the way JUST GETTING a proposal to extend Wilson’s con- On Dec. 27, the Michigan Supreme we have been doing, which is one-time STARTED.” tract another three years to 2023. It Court dealt the governor a setback in gimmicks, like the one that was sent to was narrowly approved in a 5-3 vote. her quest to get avored vape juice o me in the original budget,” she said. —Gov. Gretchen e three were joined in opposition Whitmer the shelves of retailers by refusing to Whitmer’s attempt to use her re- to Wilson in 2019 by Anil Kumar, let her skip the Court of Appeals. It's cord-setting line-item budget vetoes to M.D., who was elected the previous unlikely Whitmer's emergency rules restart road-funding talks didn’t work. November. will take eect before they expire on A stalemate over the budget stretched In various statements, the four op- April 2. e state health department is into December before Whitmer and posing governors contend Wilson working on permenant rules, Whit- GOP legislative leaders cut a deal that has done a poor job leading Wayne mer's oce said. restored other vetoed line items that State and has been generally ineec- “We’ve done some wonderful things earned the governor criticism from al- tive. ey also have criticized com- in this state in the last 12 months — lies, including the axing of a $1 million pensation levels Wilson approved for and we’re just getting started.” program for autism services. several consultants and former vice Where Whitmer still hasn’t started e governor told Crain’s she in- president of health aairs David Hef- making progress is improving the tends to introduce a new road-fund- ner. ey were hired to help turn condition of Michigan’s roads after ing plan in January. around the medical school and facul- vowing as a candidate for governor to Looking ahead to 2020, Whitmer ty practice plan and to negotiate con- “ x the damn roads.” could play a key role in the March 10 tracts with DMC and an aliation Her proposed 45-cent-per-gallon fuel Democratic presidential primary. As with Henry Ford. tax hike to raise $2.5 billion in new taxes a female governor from a swing state On the other side, four governors — $1.9 billion for roads — never got any in the Midwest, Whitmer’s name is — former chairwoman Kim Trent, traction in the Republican-controlled frequently mentioned by national current chairwoman Marilyn Kelley, Legislature. House Democratic Leader political pundits as a potential run- Mark Ganey and Bryan Barnhill II Christine Greig of Farmington Hills de- ning mate for the Democratic Party’s — have consistently expressed sup- clared Whitmer’s proposal to nearly tri- nominee. port for Wilson. ple the state’s 26.3-per-gallon gas tax “You know what ... ? At this point in Moreover, during the past year the “the extreme that won’t happen.” my race for governor, some were still community has rallied around him in Negotiations broke down in Sep- looking for another candidate to jump various ways. (Kim Trent resigned in tember when GOP leaders wanted to in the race,” Whitmer said. “I recog- December to take a job in Gov. infuse one-time surplus funds into nize that things can change.” Gretchen Whitmer’s administration

18 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 ILLUSTRATIONS BY CHRIS MORRIS FOR CRAIN’S Gretchen Whitmer

M. Roy Wilson

PARKER From Page 12

Noting high pharmacy costs, she M. ROY WILSON sent letters to members, encouraging use of generics and giving them an President, Wayne State University incentive to do so. e dollars saved would help preserve the trust-funded BYJAY GREENE bene ts and even enhance them. To- day, the fund’s generic use rate is 96- 97 percent, up from the low 70s a de- Roy Wilson, M.D., is entering his seventh year cade ago, Parker said, a move that as president of Wayne State University with a saved tens of millions of dollars. Among other eorts, she also con- portfolio of accomplishments but also with solidated health care contracts, com- half of the university’s board of governors bining, for example, three separate Blue Cross Blue Shield of Michigan M.wanting him red. contracts for retirees at GM, Ford and Chrysler into one. Wilson, 66, an ophthalmologist and was replaced by former Amid it all, she kept a mission-ori- and researcher who has published New Detroit CEO Shirley Stan- ented focus on retiree care, working to papers on glaucoma and blindness cato.) restore bene ts that had been cut by in populations from the Caribbean to Some 24 of Detroit’s top busi- two of the three carmakers during West Africa, previously has served as ness leaders, the medical school’s bankruptcy and to enhance other ben- deputy director for strategic scienti c board of visitors and former board e ts. She worked with insurance pro- planning and program coordination members have penned letters talking viders to craft bene ts that made sense at the National Institute on Minority about Wilson’s accomplishments. for retirees. And noting high numbers Health and Health Disparities of Na- Wilson declined an interview with of emergency room visits, the trust be- tional Institutes of Health. He also Crain’s due to the sensitivities in- gan phasing in oce visit coverage. was dean of the medical school at volved with the governance issues. Today, members are entitled to unlim- Creighton University in Omaha. However, he has said repeatedly that ited low- or no-copay primary care and e board conict started in ear- he has no intention of resigning. specialty visits, Parker said. nest during the fall of 2018 when In a previous story in March about And as of Jan. 1, members were set Wayne State was nalizing its letter of Detroit business leaders issuing a to be able to secure generic medica- intent to replace Detroit Medical letter of support, Wilson told tions via mail at $5 for a 90-day supply Center with Henry Ford Health Sys- Crain’s: “I initially was very or $20 per year, she said last month. tem as its primary teaching hospital. discouraged with what is Parker used a letter-writing cam- WSU has had an acrimonious rela- going on. I’ve never dealt paign to encourage board diversity at with this before. e (mes- Michigan companies in the trust’s “NOW I HAVE A GREATER sages) have been over- portfolio in 2011 when an Inforum re- whelmingly supportive port on the issue caught her attention. LEVEL OF COMMITMENT TO and encouraging. It has She pointed to the business bene ts DO WHAT I HAVE TO DO FOR given me a lot of optimism and asked them to consider diverse in moving forward. candidates. Companies like THE BENEFIT OF WAYNE “I am not political at all American Axle and Lear Corp. did, STATE AND THE PEOPLE OF and do not ask people to adding women to their boards. do things for me. It was In 2016, Parker spurred the DETROIT.” spontaneous. People just launch of the Midwest Diversity —M. Roy Wilson expressing themselves. Now Initiative, a coalition of what is I have a greater level of com- now 13 institutional investors with over tionship with DMC since the late mitment to do what I have to $800 billion in assets. 2000s, especially since it became a do for the bene t of Wayne Using the same letter-writing ap- for-pro t hospital in 2011. State and the people of De- proach, the group has spurred 24 pub- In a December 2018 board meet- troit,” Wilson said. lic companies to commit to consider ing, three governors — Michael Bu- Of all his achievements female and minority candidates for ev- suito, M.D., Sandra Hughes O’Brien during his tenure, Wilson has ery open board seat. Ten have appoint- and Dana ompson — voted against said he is most proud of how ed a dozen diverse board members. a proposal to extend Wilson’s con- Wayne State has increased gradua- In October, a second coalition, the tract another three years to 2023. It tion rates. Since he took oce, Northeast Investors Diversity Initia- was narrowly approved in a 5-3 vote. Wayne State has nearly doubled its tive, launched with $283 billion in e three were joined in opposition graduation rate to 47 percent from 26 assets under management. to Wilson in 2019 by Anil Kumar, percent. Parker’s leadership “came at a crit- M.D., who was elected the previous Wilson has said the school has ical time in sort of the arc we’re see- November. more work to do to reach its goal of a ing in diversi cation of boards,” said In various statements, the four op- 50 percent graduation rate before Terry Barclay, president and CEO of posing governors contend Wilson 2021. Inforum, a professional organization has done a poor job leading Wayne In 2020, Wayne State expects to that oers leadership development State and has been generally ineec- complete several construction proj- programs for women. tive. ey also have criticized com- ects, including the STEM Innovation “She provided additional energy and pensation levels Wilson approved for Learning Center, which will bring all leverage at a critical time. And we are several consultants and former vice of WSU’s science, technology, engi- seeing numbers improve,” Barclay said. president of health aairs David Hef- neering, and math programs into Parker also played a role in creating ner. ey were hired to help turn one building. a coalition of investors taking on opioid around the medical school and facul- He also has pointed to moving the accountability, and noting that invest- ty practice plan and to negotiate con- historic McKenzie house on Cass Av- ment managers are, by and large, white tracts with DMC and an aliation enue to the other side of the block on men, she led the launch of the biennial with Henry Ford. Second Avenue, allowing the expan- Diverse and Emerging Managers Fo- On the other side, four governors sion of the Hilberry eater, which rum, which drew over 200 to Detroit — former chairwoman Kim Trent, will allow the complex to house a last fall, including the Kresge Founda- current chairwoman Marilyn Kelley, new jazz center. tion, Texas Teachers Retirement Sys- Mark Ganey and Bryan Barnhill II Last year, Wayne State established tem and Goldman Sachs. — have consistently expressed sup- a partnership with the Detroit Pis- Asset management rms owned and port for Wilson. tons that will allow for the construc- operated by diverse teams are proven Moreover, during the past year the tion of a new $25 million arena for to demonstrate equal or better perfor- community has rallied around him in the university’s men’s and women’s mance than their peers, Parker said. various ways. (Kim Trent resigned in basketball teams. e arena also will “We’re a convener, whether it’s a December to take a job in Gov. serve as the home of the Pistons’ G convener for change in health care or Gretchen Whitmer’s administration League team. in our investments,” she said.

ILLUSTRATIONS BY CHRIS MORRIS FOR CRAIN’S JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 19 HELPING PEOPLE REVITALIZE AND THRIVE The YMCA of Metropolitan Detroit is committed to providing experiences that enhance: » FAMILY AND COMMUNITY » CHILD AND YOUTH DEVELOPMENT » HEALTH AND WELLNESS

YMCA OF METRO DETROIT

The YMCA celebrated its 175th birthday last year. Originating in London, England, the first YMCA opened in 1844. Eight years later the Detroit Y was founded; it’s a spry 167-years-young. The global organization — serving 45 million people in 119 countries — commemorated its milestone anniversary through service.

In 2019, The YMCA of Metropolitan Detroit: » Raised over $6.1 million to support children, youth and families. Make Every Day Better, Join the YMCA, and become a vital partner in developing thriving, communities. » Awarded over 2,000 families $1,400,000+ » Prepared over 200 » Served as a platform in scholarships to JANUARY PROMOTIONS Detroit youth for the for emerging visual participate at the Y. All Month: $0 Joiners fee world of work as a DESC artists, new exhibits are » Provided over 200,000 1st week: 75% off first month dues (Detroit Employment featured monthly at the healthy meals to over Solutions Corporation), Boll Family YMCA. 1,000 children at over 2nd week: 50% off first month dues WIOA (Workforce » Provided over 1,900 30 locations. 3rd week: 25% off first month dues Investment Act), and kids at 14+ sites access » Operated two Girls on - ymcadetroit.org/join GDYT (Grow Detroit’s to sports sampling and the Run (GOTR) and Young Talent) partner. free play as the mobile STRIDE sessions for » Nurtured over 200 » Provided over 4,000 » Operated 10 facilities equipment sharing three 5k races serving young adults with children at 49 sites in with nine pools, two partner SportPort of over 5,000 children. special needs in our Wayne, Oakland and resident camps and four Project Play Southeast » Engaged over 2,000 inclusion programs. Macomb counties with community initiatives. Michigan. volunteers who provided » Provided resources to safe, fun and educational » Provided over 1,500 » Served as a leading over 40,000 hours 75,000 kids and families after school services. Metro Detroit children partner in the of service. that made their lives » Served over 200 with free water safety Community Education » Served over 4,000 better everyday as Metropolitan Detroit and swim lessons. Commission (CEC), children in resident YMCA members. youth in the Detroit » Employed over 600 GOAL Line Project at and summer day camps » Supported over 45 Creativity Project, 18-to-24-year-olds in Northwest Activity throughout southeast cancer survivors as an improv education Y summer day camps, Center, a city of Detroit Michigan to help mitigate part of our LiveStrong program, that began as a leader in youth initiative, serving over summer learning loss. Program at three Ys. in 2011. employment. 200 children annually. METRO DETROIT YMCA LOCATIONS BIRMINGHAM FAMILY YMCA CARLS FAMILY YMCA FARMINGTON FAMILY YMCA L IVONIA FAMILY YMCA NORTH OAKLAND FAMILY YMCA 400 E. Lincoln Street 300 Family Drive 28100 Farmington Road 14255 Stark Road 3378 E. Walton Boulevard Birmingham, MI 48009 Milford, MI 48381 Farmington Hills, MI 48334 Livonia, MI 48154 Auburn Hills, MI 48326 (248) 644-9036 (248) 685-3020 (248) 553-4020 (734) 261-2161 (248) 370-9622 BOLL FAMILY YMCA DOWNRIVER FAMILY YMCA LAKESHORE FAMILY YMCA MACOMB FAMILY YMCA SOUTH OAKLAND FAMILY YMCA 1401 Broadway 16777 Northline Road 23401 East Jefferson 10 North River Road 1016 West 11 Mile Road Detroit, MI 48226 Southgate, MI 48195 St. Clair Shores, MI 48080 Mount Clemens, MI 48043 Royal Oak, MI 48067 (313) 309-9622 (734) 282-9622 (586) 778-5811 (586) 468-1411 (248) 547-0030 Customized Corporate Memberships are available » ymcadetroit.org/corporate-membership tide of foreclosures running through GILBERT the county treasurer’s o ce. From Page 1 And to illustrate just how closely aligned Gilbert’s company is with Crews hired by Dan Gilbert’s real es- “THERE’S CLEAR EVIDENCE Mayor Mike Duggan’s administra- tate company ended up demolishing tion, the Quicken Loans Community the half-built jail in 2018 — nine years Fund recently paid a consultant to after Gilbert stewed about the prospect help the city’s building department of an institution of incarceration de n- redesign its notoriously di cult per- ing how people saw Detroit when they mitting and inspection processes entered its eastern gateway. and forms — e ectively pulling city “We hadn’t moved downtown yet, bureaucrats into the digital age. or even understood how we would THAT DAN’S COMMITMENT Gilbert also stewed in recent years move downtown, and Dan was fo- about the high price of auto insurance. cused on how important this site was,” During an October 2017 interview said Cullen, now the CEO of Gilbert’s about the bid he was orchestrating to Bedrock LLC real estate company. “I pitch Amazon on building a second think that’s pretty incredible.” headquarters in Detroit (which Dug- Detroit’s destiny has certainly tak- gan e ectively outsourced to Gil- en a di erent course over the past AND ENTHUSIASM ABOUT bert), Gilbert told Crain’s reporters decade that few could have predicted he wanted to reserve a few minutes at in the depths of the Great Recession, the end to discuss auto insurance. when GM and Chrysler’s collapse It turned into a 10-minute rant. spelled almost certain doom for a Gilbert decried “the predatory city that was already su ering from a plainti bar” of personal injury attor- half-century of declining population neys and “certain parts” of the medi- and disinvestment. cal industry that he said work togeth- e automakers came back, rein- THE CITY OF DETROIT er to “pro t enormously and unjustly vented their business models (hello, from this crazy law.” trucks and SUVs and goodbye se- Now, it’s not uncommon for busi- dans!) and have posted record pro ts nesspeople to have opinions. Even in recent years. about laws they know little about. Fiat Chrysler Automobiles is now in But Gilbert dispatched a team of the midst of converting two engine lobbyists and consultants to the plants on Mack Avenue into a new Jeep REMAINS. HE’S STILL Capitol to engage in a campaign to assembly plant and GM has committed get the Legislature to eliminate to retool the aging Poletown plant to mandatory medical coverage for build electric vehicles — two reversals auto insurance. He threatened a of fortune few would have imagined af- 2020 ballot campaign. ter decades of watching the automakers In less than two years, Gilbert did build auto plants in Mexico or beyond. what an army of insurance industry But this past decade in the city lobbyists had failed to do over a cou- synonymous with the automobile MAKING THE BIG ple of decades, getting the Legisla- has, in so many ways, been de ned ture and governor to bend to his will. by a man who made his fortune sell- On the Sunday of Memorial Day ing mortgages and is now recovering weekend, two days after lawmakers following a stroke last May. passed that historic reform, Gilbert After moving Quicken Loans down- su ered a debilitating stroke and has town in 2010, Gilbert went on a daz- rarely been seen publicly since. zling real estate buying spree, gob- DECISIONS, THE BIG Gilbert’s condition and long-term bling up more than 100 properties. prognosis have been a tightly held se- But instead of becoming yet anoth- cret within his privately held company. er speculator who sits on empty, rot- e 57-year-old Gilbert hasn’t ting properties — or razing buildings granted any media interviews. A vid- for more surface parking — Gilbert eo message he sent to employees deployed capital throughout the cen- from a rehabilitation center in down- tral business district, turning around town Chicago leaked out of the com- one distressed property after another. STRATEGIC PLAYS.” pany’s walls in August, showing a Suddenly, Detroit, the poorest big bearded Gilbert praising Quicken city in America, had a John Varvatos Loans workers. store selling $1,200 alpaca plaid coats. His public absence in Detroit over Last month, Buddy’s Pizza, the post- the past six months has left a question war originator of Detroit-style pizza MATT CULLEN, CEO OF BEDROCK LLC mark for some downtown observers pies, opened a downtown pizzeria in about what the next decade will hold, the Gilbert-owned Madison Building QUICKEN LOANS underscoring how Gilbert has, in (two years after Angelina Italian Bistro many ways, held the full faith and closed, citing Gilbert’s rising rents). fanfare, adding credibility to a narra- project prior to Gilbert’s downtown and tenants, Gilbert vowed to go to credit of the city’s future in his hands. Over the past decade, Gilbert the real tive in the national media that De- crusade — as Henry Ford’s vertical in a city where a skyscraper Or maybe we’ve held our full faith estate mogul has reshaped downtown. troit was a comeback city. e likes of great-grandson, Bill Ford Jr., follows hasn’t been built since the 1970s con- and credit in Gilbert to propel the city His employees’ desire for outdoor JPMorgan Chase CEO Jamie Dimon Gilbert’s fundamental belief that in- struction of the Renaissance Center. forward. public space to enjoy Detroit is but bought it. novation will be borne from cities, not Politicians rushed to help the bil- e lieutenants in Gilbert’s busi- one reason why there are basketball Ford Motor Co. bought the decrepit sterile suburban o ce parks. lionaire make it happen. en-Gov. ness empire insist he’s still making courts in Cadillac Square. Michigan Central Station train depot After largely lling up his main Rick Snyder even crossed his no- major decisions. Gilbert was an early backer of the — an unimaginable redevelopment downtown buildings with employees new-tax incentives red line to help Steel beams will come out of QLine, buying naming rights for the Gilbert justify breaking ground on a ground at the Hudson’s site this year, streetcar and giving his employees skyscraper at the base of the former Cullen said, attempting to erase any passes to boost ridership and cut J.L. Hudson’s department store. doubts that Gilbert intends to build down on parking congestion. As Gilbert made real estate moves an iconic skyscraper at a site that in- He even got the operating compa- and Quicken Loans scrapped and vokes memories of downtown shop- ny for the Detroit newspapers to sell clawed to be No. 1 in the residential ping before Hudson’s closed in 1983. e Detroit News’ historic Lafayette mortgage origination business, the An architect was hired for renova- Boulevard building to him and then billionaire businessman started mov- tion of the Book Tower. move into his renovated Federal Re- ing into other areas of Detroit life. And “post-Dan’s stroke,” Cullen serve building on Fort Street and be- After Gilbert co-chaired a 2013 said, the company’s leaders nalized come tenants. en he bought the task force on blight and testi ed in a proposal with New York City devel- long-vacant Detroit Free Press build- federal court about it in Detroit’s oper Stephen Ross to build a Univer- ing on Lafayette and is currently ren- bankruptcy case, his company’s phil- sity of Michigan innovation center ovating that 14-story-tall Albert anthropic arm went looking for solu- and satellite campus at the one-time Kahn-designed hulk. tions to preventing neighborhood jail site. Quicken Loans and the family of blight and destabilization. “ ere’s clear evidence that Dan’s companies (there are literally dozens e Quicken Loans Community commitment and enthusiasm about of them) swelled to a Detroit work- Fund used community groups to hire the city of Detroit remains,” Cullen force of 17,000 — more employees Detroiters to canvass neighborhoods said. “He’s still making the big deci- downtown than GM, Blue Cross Blue and educate low-income homeown- sions, the big strategic plays.” Shield and the Detroit Medical Cen- ers about their right to get exempted ter combined. Quicken Loans’ move to what was called the Compuware Building began a run of down- from paying property taxes — a pro- Contact: [email protected]; Gilbert’s moves bought him great town investment by Dan Gilbert unrivaled in the city’s history. | CRAIN’S DETROIT BUSINESS active measure meant to stem the (313) 446-1654; @ChadLivengood

JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 21 December 2, 2019 CRAIN’S DETROIT BUSINESS Page 1

December 16, 2019 CRAIN’S DETROIT BUSINESS Page 1

Advertising Section

CLASSIFIEDSDecember 2, 2019 CRAIN’S DETROIT BUSINESS Page 1 To place your listing, contact Suzanne Janik at 313-446-0455 or email [email protected] www.crainsdetroit.com/classi eds JOB FRONT POSITIONS AVAILABLE POSITIONS AVAILABLE

ENGINEERING Grakon, LLC has a job opening in Livonia, MI: Product Development Engineer (PDE001): Oversee automotive interior & ex- terior lighting product development engineering projects from concept to production launch & identify & resolve technical issues within the project. Coordi- MARKET PLACE nate, propose, test & validate new designs & improve upon existing product designs.To apply, submit resume to [email protected] and reference ID#. Receivership sale of assets of Visiting Physicians Busi- ness Residential Physicians Molex, LLC seeks Advanced Quality Planning (AQP) Engineers Delight your Clients with the Best of Michigan Association, PLLC & RPA Man- for Rochester Hills, MI to work w/product dev team members to dev & main- DEALS&DETAILS agement, Inc. includes account tain quality plans of a global design center for electronic cable assemblies. Handmade Nut, Baked Goods & receivables, 7 vehicles, outstand- Master’sAdvertising in Ind Eng/ Quality/Risk Section Mgmt/related field +2yrs exp OR Bachelor’s  One hundred and ve of the salons Chocolate Gi Trays. ing insurance, Medicare and Med- in Ind Eng/ Quality/Risk Mgmt/related field +5yrs exp req’d. Req’d Skills: Qual- CONTRACTS FREE Holiday cards w/your logo & message icaid claims, office equipment, of- ity eng w/ new product dev process w/electronic connector production facility will be under the Holiday Hair ban- Guaranteed Christmas Delivery! fice furniture, medical supplies, in auto industry, problem solving methodologies (8D, root cause analysis) & BAE Systems Inc., Arlington, Va., a ner and the rest will be converted to and intellectual property. NibblesGi s.com 248-737-8088 corrective action implementation; Supply Chain, Risk Analysis, GD&T, Sup- defense contracting company, has the Regis Cost Cutters brand. e Contact Sonya Goll at CLASSIFIEDS(248) port Environ Testing (Eng design/Design Validation/Process Validation), Proc- won a $249 million contract modi - transition and conversion began in 354-7906 ext. 2234 or sgoll@ Visit our store at 32550 Northwestern Hwy, Farmington Hills sbplclaw.com for additional infor- ess Improvement Coach, Change Mgmt, PFMEA/DFMEA, Control Plans, cation from the U.S. Army to com- early December and will continue mation,To formplace purchase your listing, agree- contact PPAP,Suzanne APQP, Janik Qualifying at 313-446-0455 Suppliers using or emailCPK, IATF, sjanik SPC,@crain.com MSA, Poke-Yoke, plete an additional 60 M109A7 into early 2020. In late 2018, the Al- Executive Director, Audience Development ment, financials of business, and www.crainsdetroit.com/classi Six-Sigma, Minitab. eds 30% travel req’d. self-propelled howitzers that will line Salon Group purchased and con- deadlines for offers. Send resume to: [email protected], Ref: JH bring improved artillery capabilities verted 66 stores to Supercuts in & Analytics to the Army’s Armored Brigade Com- Michigan. In early 2019, it purchased Molex, LLC seeks Business Analysts for Rochester Hills, MI bat Teams. Work on the contract will and converted 190 salons in Ohio to As a forward-thinking and transformational Audience Development to drive improvements into productivity, capability & speed throughout the divisio- take place at several facilities within Cost Cutters and Supercuts making it Executive, you will lead the strategy, development, and execution of Projectnal product dev. Coordinator Master’s in Ind Eng or related field +2yrs exp or Bachelor’s in REAL the company’s combat vehicles man- the largest Supercuts and Cost Cut- audience plans via effective marketing practices with the goal of achieving REAL Ind Eng or related field +5yrs exp req’d. Req’d Skills: exp w/electronic connec- ufacturing network including: Ster- ters franchisee for Regis. With this revenue growth across six of Crain Communications’ core brands: MARKETWetors are in autolooking industry for w/businessa ProjectP Coordinator improvementLACE toprojects, join Plastics setting upNews product and dev the ling Heights, Aiken, S.C., Elgin, Okla., sale, Alline will also be the compa- Automotive News, Crain’s Business Publications, Modern Healthcare, Ad ESTATE Crainprocesses, Global & project Polymer mgmt; Group. PLM solutionsCore competencies (teamcenter, enovia, include windchill), solid written SAP, and York, Pa. Website: baesystems. ny’s largest franchisee and the sole ESTATE JIRA, Agile, data modeling & visualization dev using Qlik, Power BI, Tableau); Age, Pensions & Investments, Polymer Group. By leveraging your focused and verbal communication skills, excellentReceivership organizational sale skills, of assets website com/US Holiday Hair franchisee. Websites: Six Sigma. Send resume to: [email protected], Ref: AJ allinesalongroup.com, regiscorp. ROI mindset and your experience as a modern, multi-channel marketer RESIDENTIALRESIDENTIAL PROPERTYPROPERTY editing, high level of detail and the abilityof Visiting to multi-task Physicians and Busi- meet you’ll decide how best to engage audience members during their deadlines. This position is located in theness Detroit Residential of ce and Physicianswill report to EXPANSIONS com Association, PLLC & RPA Man- customer journeys, and how best to allocate resources. Position could be Delight your Clients withthe the EventsBest of Director. Michigan 2,2802,280 ACRESACRES FORFOR SALESALE agement, Inc. includes account Clinc Inc., Ann Arbor, an arti cial  Mercer Global Advisors Inc., Den- based in Detroit, Chicago, or New York City. Handmade Nut, Baked Goods & receivables, 7 vehicles, outstand- Chocolate Gi Trays. ing insurance, Medicare and Med- intelligence software company, is ex- ver, Colo., a registered investment Visit crain.com/careers/ for more information DOUBLEDOUBLE EAGLEEAGLE RANCHRANCH Visit crain.com/careers/ for more information panding in March into the former Ki- adviser, acquired SD Financial Path- North CentralFREE Michigan Holiday cards w/yourM logo & messageARKETicaidP claims,LACE office equipment, of- North Central Michigan and available positions. Guaranteed Christmasand Delivery! available positions. fice furniture, medical supplies, wanis rift Sale space at 301 W. ways LLC, Dearborn, a wealth man- TheDoubleEagleRanch.comTheDoubleEagleRanch.com and intellectual property. Washington St., Ann Arbor, giving the agement rm. Websites: sd nan- CallCall Kyle:Kyle: 248-444-6262248-444-6262NibblesGi s.com 248-737-8088 Contact Sonya Goll at (248) company three oors and 21,276 cialpathways.com, merceradvisors. 354-7906 ext. 2234 or sgoll@ square feet of space. Website: clinc. com Business Development Sales Associate Visit our store at 32550 Northwestern Hwy, Farmington Hills sbplclaw.com for additional infor- Director, Digital Operationsmation, form purchase agree- com Executive Director, Audience Development ment, financials of business, and NEW SERVICES The Global Polymer Group is looking for a Business Development/Sales We are seeking an exceptional Director – Digitaldeadlines Operations for offers. to oversee MERGERS & ACQUISITIONS CRAIN’S Kapnick Insurance Group, Adrian, Associate who will be expected to work with inactive accounts and new & Analytics ad ops and ad solutions departments. We are seeking candidates who: Alline Salon Group LLC, Bloom- an insurance company, has begun prospects to pre-sell the brand with the objective to set up a meeting AsREADER a forward-thinking and Stransformational -Lead through Audience change; Development -Are comfortable working in imperfect situations; with the Regional Manager. They will work with the sales team to help eld Hills, a hair salon operator of o ering diversity and inclusion con- Executive, you will lead the strategy, -Operatedevelopment, with anda sense execution of urgency; of -Are fascinated by ad tech and Supercuts, Cost Cutters and Holiday sulting services to help clients create establish relations to ensure a smooth transition of the account. The REAL audienceHAVECrain’s plans readers via effective AN are marketing practicesdeveloping with revenue the goal opportunities of achieving as a function of Ad Operations; -Love Hair salon businesses, has an agree- more diverse and inclusive work- Business Development Associate will need to be able to effectively revenue growth across six of Crain providingCommunications’ insights, core analysis, brands: and recommendations for revenue ment with Regis Corp., Edina, Minn., places. Erica White, a certi ed diver- research and uncover new opportunities both endemic and non- 75% more likely to BIDS WANTED AutomotiveAVERAGE News, Crain’s Business* Publications,generation Modernand optimization; Healthcare, Ad-Take ownershipESTATE of major projects and a hair salon chain operator, for the sity professional through the Nation- endemic clients. Age,be Pensions college & Investments,graduates Polymer Group.vendor By relationships leveraging yourto drive focused forward a corporate vision; -Work cohesively sale and conversion of 133 compa- al Diversity Council and a client ROINET mindset and your experience as awith modern, various multi-channel business units; marketer -Are comfortable in a technical setting; and ny-owned salons mostly in Pennsyl- executive with Kapnick, will be Connect with Suzanne Janik at RESIDENTIAL PROPERTY you’ll decide how best to engage audience-Are in their members element during as a problem their solver and identifying opportunities vania. e salons being acquired are spearheading the new initiative. [email protected] Visit crain.com/careers/ for more information customerWORTH journeys, and how best to allocate resources. Position could be currently branded as Holiday Hair, Also, Kapnick Insurance Group re- for all your recruiting needs. across the business. 2,280 ACRES FOR SALE Famous Hair, Best Cuts, CityLooks, cently opened an o ce in Mumbai, and available positions. based in Detroit, Chicago, or New York City. Visit crain.com/careers/ for more information Style America and BoRics Hair Care. India. Website: kapnick.com OF $1.6 * Visit crain.com/careers/*The Media Audit for more informationand available positions. DOUBLE EAGLE RANCH andMILLION available positions. North Central Michigan Accounts Receivable Specialist TheDoubleEagleRanch.com CALENDAR Call Kyle: 248-444-6262 Contact Suzanne Janik Crain Communications is currently seeking an Accounts Receivable Business Development Sales Associate Society of Employers president and Specialist. This position will report to the Accounts Receivable Manager at [email protected] CEO, will lead a presentation on and will be located in our downtown Detroit location. The ideal or 313-446-0455 workplace flexibility topics and trends. DoubleTree By Hilton, candidate will be highly motivated, have an upbeat attitude and must The GlobalCRAIN’S Polymer Group is looking for a BusinessREADERS Development/Sales ARE for details. CRAIN’S Bloomfield Hills. $32 members. $40 be a team player. Associate who will be expected to work with inactive accounts and new prospects to pre-sell the brand with the objective to set up a meeting READERS nonmembers. Contact: Troy Cham- with the Regional Manager. They will work with the sales team to help ber of Commerce, email: theteam@ Visit crain.com/careers/ for more information 4.5x MORE LIKELY TO troychamber.com; phone: (248) establish relations to ensure a smooth transition of the account. The and available positions. HAVE AN 641-1606. Business Development Associate will need to be able to effectively Donofrio Swonk researchINFLUENCE and uncover new opportunities both endemic and non- AVERAGE 2020 Detroit Policy Conference. endemic clients. TUESDAY, JAN. 7 8:30 a.m.-4:30 p.m. Jan. 29. Detroit NET Regional Chamber. The 2020 De- CORPORATE 2020 Michigan Economic Outlook. troit Policy Conference: Defining a Share your success Visit crain.com/careers/ for more information WORTH 11:30 a.m.-1:30 p.m. Detroit Eco- Decade will discuss Detroit’s path with custom and available positions. nomic Club. Grant ornton chief to economic sustainability. Local economist Diane Swonk and Je and national leaders will highlight Reprints, E-prints OF $1.6 * YOU MADE and more! FINANCING Donofrio, director of Michigan’s La- the work underway, new ideas, op- * MILLION bor and Economic Opportunity De- portunities and challenges that will partment, discuss the 2020 Michi- define the next 10 years for the De- Contact Laura Picariello at Accounts Receivable Specialist gan Economic Outlook. MotorCity troit region. MotorCity Casino Ho- NEWS IN [email protected] DECISIONS Crain Communications is currently seeking an Accounts Receivable Contact Suzanne Janik Casino Hotel. $45 members, $55 tel. $169 members; $245 nonmem- Specialist. This position will report to the Accounts Receivable Manager at [email protected] guests of members. Website: econ- bers. Contact: Katy Palahang, club.org phone: (313) 596-0384. CRAIN’S and will be located in our downtown Detroit location. The ideal or 313-446-0455 candidate will be highly motivated, have an upbeat attitude and must for details. UPCOMING EVENTS Tech248 Special Event: Business be a team player. Processes that Boost Profits. 3-5 *Signet Readership Study Global Economic Outlook for 2020 p.m. Jan. 30. Topic: Business Pro- Visit crain.com/careers/ for more information and Beyond. 8-11:30 a.m. Jan. 16. cesses that Boost Profits, Increase and available positions. Automation Alley. The annual eco- Revenue and Reduce the Need for nomic outlook will feature interna- More Staff, by speaker Dan Izy- tional business experts discussing dorek, CEO and founder, PC Mira- the shifting dynamics of the global cles. PC Miracles, Pontiac. Free. economy and how companies can Advance registration required. Reg- best position themselves to take ad- istration closes 9 a.m. Jan. 28. Con- Share your success vantage of the opportunities and tact: Sandra O’Connell, email: with custom challenges of doing business [email protected]; phone: Reprints, E-prints around the world in 2020. Automa- (248) 858-7647 YOU MADE tion Alley, Troy. $30 member; $50 and more! nonmember; $40 member walk-in; To submit calendar items visit $60 nonmember walk-in. Contact: crainsdetroit.com and click “Events” NEWS IN Contact Laura Picariello at Cathy Steiner, email: info@automa- near the top of the home page. en, [email protected] tionalley.com; phone: (248) 457- click “Submit Your Events” from the 3200. drop-down menu that will appear. CRAIN’S 440455 Fill out the submission form, then *The Media Audit CEO Series: Mary Corrado. 8-9:30 click “Submit event” at the bottom of a.m. Jan. 23. Troy Chamber of Com- the page. More Calendar items can merce. Mary Corrado, American be found at crainsdetroit.com/events.

22 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 *Signet Readership Study the process is completed and DTE has why it is important to get IRPs right, to DTE a nal energy plan. give customers long-term options.” From Page 3 “ ere are practical impacts on Asked if DTE made decisions based rates and capital expenditures” for on its heavy investments in natural “As we continue to proceed through DTE customers related to the energy gas pipelines running through Michi- the IRP process, we remain commit- plan, Gignac said. Meanwhile, he gan and the eastern states, Gignac ted to doing as much as we can, as fast said, “ ere are interim things the said he isn’t sure of DTE’s motivation. as we can, to provide the communi- commission needs to address besides “It does illustrate the importance of ties we serve with more clean energy the IRP, including a (DTE) rate case a combination of a strong renewable that is a ordable and reliable.” and a renewable energy case.” energy portfolio standard (that man- Wallace said DTE’s IRP, which lays Last year, Consumers Energy Co. of dates renewable energy) and an IRP out a de ned power generation plan Jackson submitted its IRP and was ap- to provide a backstop, a minimum for the next ve years and then vari- proved by the commission after a con- amount of renewable investment,” he ous alternate paths, doesn’t meet stat- tested hearing, he said. All Michigan said. “An IRP shows they are pursuing utory requirements for a concrete utilities have been going through the renewables. Michigan has not in- long-term plan. She also said that by energy plan approval process the past creased its (renewable standard). It is failing to solicit bids for renewable en- two years. important for the commission to take ergy projects, the company’s cost as- “ e approach Consumers took a close look at what they are doing.” sumptions for those projects are in- was much di erent. ey had a plan In early 2018, DTE announced its valid. to phase out all its coal- red power long-term energy plan and pledged Under an IRP, regulated utilities like A DTE employee attaches a new service line to a main pipeline | DTE ENERGY plants and replace them with solar, to add 1,000 megawatts of solar and DTE are required to develop long- energy e ciency” and other custom- wind energy power by 2022, dou- term plans on how they will meet es by using a competitive bidding pro- their customers.” er-friendly and environmentally con- bling its current capacity and invest- electricity demand in their service ar- cess. Commissioners have wide exibili- scious decisions, Gignac said. ments in renewable energy. If built, eas. e plans also must include eval- “Key to this process is that the utili- ty in how they address the judge’s ad- One of the problems with DTE’s en- DTE’s new projects would represent uations of energy waste reduction, ty must be open to making changes visory recommendations. ergy plan is that the company submit- a $1.7 billion investment that would supply su ciency, demand response that are good for customers,” Kearney James Gignac, lead Midwest energy ted it in April 2019, about one year af- power more than 450,000 homes and and the impact of state and federal en- said. “It was clear from the beginning analyst with the Union of Concerned ter it received state approval to build a increase DTE’s renewable energy vironmental regulations. Any new that DTE had already decided how it Scientists, said DTE and intervening new $1 billion, 1,100 megawatt natu- portfolio standard to 15 percent of generation source is required to be wanted its plan to look, and was reluc- parties have a deadline ursday to ral gas- red power plant in St. Clair generation, up from about 10 per- the lowest-cost and best option. tant to consider new ways to lower le initial briefs on Wallace’s opinion. County. e gas plant, which would cent. Wallace also ruled that DTE failed costs for customers while maintaining A second round of comments are due power 850,000 homes, and related re- Crain’s previously reported that to fully account for the cost savings reliability and protecting the environ- Jan. 21 with the MPSC scheduled to newable energy projects would power DTE plans to add 4,000 megawatts of available through increased energy ment.” make a decision Feb. 20. He said DTE more than 80 percent of DTE’s cus- renewable power over the next 20 e ciency. She said DTE should come Kearney said Wallace’s opinion and other parties could contest that tomers, the company said. years as it retires several aging coal- back to the MPSC with a revised IRP found several errors and incorrect as- decision in state courts. “DTE said it does not need (addi- red plants. regardless of whether the commission sumptions with DTE’s proposed plan. “What is important and encourag- tional) electricity capacity until 2029 DTE has said that building the gas approves its current proposal. “ e next step is for parties to ex- ing about the judge’s opinion is she because its Belle River plant is still op- plant is the least costly option for cus- Margrethe Kearney, a sta attorney plain to the commission itself where came up with 15 ndings for the com- erating. DTE should have done a bet- tomers, will help it reduce carbon with the Environmental Law and Poli- Judge Wallace got it right, and where mission to review,” Gignac said. “She ter analysis of early retirement,” Gig- emissions by 30 percent by 2030 and cy Center, said the MPSC should look she may not have gone far enough,” found numerous de ciencies to what nac said. “Our concern with DTE is will replace some lost jobs due to coal carefully at DTE’s proposed plan and Kearney said. “But there can be no DTE submitted and ordered DTE to that they just assumed they would plant closures in St. Clair County. the process it used to develop it. She question that Judge Wallace’s lengthy redo and re le its plan.” keep Belle River and Monroe (power said utilities must develop IRPs with opinion sends a strong message to But Gignac said potentially it could plants) open longer. An IRP looks at Contact: [email protected]; customer input and use the right pric- DTE that they need to do better for take another 24 to 30 months before new ways to generate power. is is (313) 446-0325; @jaybgreene

STAY AHEAD OF THE CURVE by signing up for our informative newsletters.

CRAIN’S MICHIGAN MORNING CRAIN’S DETROIT RISING A morning roundup of news from A weekly digest of all the important news around Michigan. about Detroit – real estate developments, philanthropic investments, local “doers” making CRAIN’S AFTERNOON REPORT things happen,social entrepreneurs, startups A daily summary of breaking and and “been up” companies with promise. relevant stories. CRAIN’S MANUFACTURING REPORT CRAIN’S BREAKING NEWS ALERTS Southeast Michigan’s weekly newsletter on News delivered to your email as it happens. the manufacturing industry.

CRAIN’S MOST READ CRAIN’S LISTS & DATA A recap of the most-read stories of the week. A weekly newsletter summarizing Crain’s research, including lists and databases. CRAIN’S PEOPLE ON THE MOVE A weekly compilation of job changes and CRAIN’S SPECIAL REPORT board appointments. Weekly email bringing Crain’s readers special editorial features and reports, including CRAIN’S HEALTH CARE EXTRA 40 Under 40 and other award programs. A weekly report on the health industry in Southeast Michigan. CRAIN’S EARLY ACCESS* Monday’s news on Sunday: digital access to CRAIN’S REAL ESTATE REPORT the weekly print edition. Delivered on Sundays. A weekly report of real estate news.

CRAIN’S NONPROFIT REPORT A weekly summary of nonprot news and developments.

*Exclusive to Crain’s Detroit Members

JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 23 STEM CELLS From Page 3

Forever Labs was one of 50 companies that presented on the rst of two demo days. e website TechCrunch rated Forever Labs’ pitch as one of the top seven that rst day. Subsequently, Forever Labs, which was founded in 2015 and had raised $750,000 from friends and family before starting at Y Combinator, raised an additional $1.5 million for its seed round. It is hoping the new funding round will include its rst investments from Michigan venture-capital companies. e company is headquartered on Main Street in downtown Ann Arbor with a laboratory on Wagner Street on the west side of the city. e company currently has 12 full- time equivalents and hopes to be at 15 in February with the hiring of three more for its in-house sales team, which currently is two people. “I think we’re one of the coolest companies in the country, but people in our backyard don’t know us,” said Clausnitzer. “People were trying to recruit us to Silicon Valley after Y Combi- nator. ere was a rich network of support there, but we’re Michigan guys. We wanted to be here. And it’s maybe a fourth or less to pay for oce and lab space here.” Clausnitzer grew up in Brighton. Company president, chief science o- cer and co-founder Mark Katakowski is a native of Rochester who got his Ph.D in medical physics from Oakland Uni- versity in 2005. ey are the largest shareholders in the company. ere are two other co-founders — Edward Cibor, the chief management ocer who also went through the Y Combinator program, and Laith Farjo, Mark Katakowski and Steven Clausnitzer | FOREVER LABS a physician and chief medical ocer. “It is a real sign of how far the startup How it works manager of business development at tive angel investor and the creator of Inc. of Marietta, Ga., and BioCardia ecosystem has come here that a com- American Express, and Katakowski something called the Dropbox LAN- Inc. of San Carlos, Calif. pany like Forever Labs can successfully Forever Labs’ technology lets people told him research he was working on Sync protocol, which syncs les on One of the patents Forever Labs has get through Y Combinator, raise sever- preserve their own “adult” stem cells so showed that mice who had been in- local area networks. applied for covers the process for ex- al million dollars, and still be under the that they have them if e ective jected with stem cells lived longer and Clausnitzer and Katakowski were ponentially growing the number of a radar in our community,” said Chris treatments for disease are developed. had fewer eects from osteoporosis. also invited to Silicon Valley, where patient’s stem cells, something Kata- Rizik, CEO and fund manager for Ann The process: “When we gave late-middle-age they met with potential customers kowski calls dynamic incubation. Arbor-based Renaissance Venture mice genetically matched mesenchy- and pitched the bene ts of stem cells. Clausnitzer said the company ex- Capital, a fund of funds that invest in `Bone marrow is withdrawn from the mal stem cells from young donors, we One presentation was before 50 te- pects to pass the 1,000-customer mark VC rms willing to do deals in Michi- customer’s body. increased their life expectancy,” Kata- chies at a big house in the valley. early this year. One customer is John gan. `Stem cells are separated from that kowski told Crain’s. “People started writing us checks,” Bogdasarian, the president and CEO “e team at Forever Labs has clear- bone marrow. At the time, Katakowski was about said Clausnitzer. of the Promanas Group, a real-estate ly identi ed an opportunity on the cut- to turn 40, and he told Clausnitzer he Sam Altman was the CEO of Y investment rm in Ann Arbor, who ting edge of health care, banking on the `The stem cells are then replicated thought it would be cool, and helpful, Combinator in 2017. He heard about posted a YouTube video about bank- direction of future medical break- outside the body through a patented to bank his own stem cells for future Forever Labs through the Silicon Val- ing his own stem cells and who pro- throughs and the role that personal process. use. ley grapevine and asked Clausnitzer vides stem-cell banking for all of his stem cells will play. If the future devel- `The cells are frozen and saved for “He’s telling me that, and I’m get- and Katakowski if they wanted a spot employees as a fringe bene t. ops in the way they envision, the work potential future use. ting excited. I was 38,” Clausnitzer in the next class. “We moved out there Forever Labs has two payment op- that they’re doing now will be incredi- said. “I like to joke that Forever Labs for three months, even though my tions. One is to pay $750 upfront and bly valuable.” was born out of our own midlife cri- wife was three months pregnant,” said then $250 a year. e other is to pay a Storing the stem cells is a bet by cus- medicine in the long run,” said Kata- s e s .” Clausnitzer. “It’s amazing. Y Combi- one-time payment of $5,000 with no tomers on future breakthroughs using kowski. “It is dicult to say which ap- Like kids in old black and white nator takes you from zero to 100 miles annual fee. the stem cells. plications are going to have the most movies saying “Let’s put on a show,” an hour.” Generally, customers tend to be in Under federal guidelines, if mesen- success or be approved. However, we Clausnitzer and Katakowski said (Altman is now the CEO of OpenAI, their 30s, but Katakowski said his chymal stem cells taken from patients believe that the writing is on the wall. “Let’s start a company.” Forever Labs a lab co-founded with Elon Musk to 71-year-old father has had his stem are grown and then frozen, they can Stem cells are growing more clinically was launched late that year and conduct research into arti cial intelli- cells banked. If he needs stem cells only be reinjected for therapies ap- valuable, and your stem cells accrue Clausnitzer quit his day job. Katakow- gence.) implanted when he is 80, for example, proved by the U.S. Food and Drug Ad- damage and decline in function with ski quit his in 2017. While at Y Combinator, Katakowski his 71-year-old cells will be more vig- ministration. No uses have been ap- age. I anticipate that one day, storing In 2016, Katakowski was on Hacker also made a one-hour presentation at orous than his 80-year-old cells. proved yet, but there are about 1,000 our young biology will be part of stan- News, a social-media site aliated Google headquarters. Currently, three doctors in Michi- trials in various stages nationwide that dard medical practice.” with Y Combinator that focuses on ere was enough interest that For- gan do the procedure, in Brighton, have been approved by the FDA, and it technology and entrepreneurship. ever Labs needed to nd a Bay Area Troy and Rochester. is generally assumed that future pri- A rare invitation Someone had posted a link to a clini- doctor to do the bone-marrow with- Forever Labs has also started a pilot mary uses will focus on treating age-re- cal trial studying the eects of using drawals and signed on Chad Roghair, with Kirkland, Wash.-based Sono Bel- lated diseases such as osteoarthritis, Forever Labs didn’t get into Y Com- mesenchymal stem cells to treat who has a practice in Berkeley. lo, which runs a national chain of lipo- stroke and heart disease. binator the traditional way. e incu- stroke victims. e posting claimed While the storage of stem cells from suction facilities. Fat also has high One Phase 2 study on regenerative bator hosts 100 companies at a time at that patients were experiencing bene- umbilical cords has been common concentrations of stem cells. Doctors treatment for heart failure is expected two cohorts a year. About 14,000 start- ts even months after their strokes, since the 1990s, Forever Labs was the at a Portland, Ore., facility will let lipo- to nish in May at the University of Tex- up apply each year. But not Forever and Katakowksi posted that because rst company to store adult stem cells suction patients know about Forever as Health Science Center in Houston, Labs. “We didn’t apply. ey weren’t of the therapeutic value of stem cells, for future use, though several others Labs and see if they are interested in with sponsorship by the National even on our radar,” Clausnitzer said. he had not only banked his own stem have launched since. Clausnitzer says having a bone-marrow procedure as Heart, Lung and Blood Institute. Phase Clausnitzer and Katakowski met at cells but had co-founded a company a four-year head start on the competi- well. 2 studies test for ecacy, which if prov- Clausnitzer’s wedding in 2004 and be- to do the same for others. tion will continue to be an advantage, If enough of them are willing to pay en leads to larger Phase 3 studies to test came friends. “We were deluged with calls,” said as well as three patents it has applied for it, Clausnitzer said Forever Labs will whether a treatment works in a broad- In 2015, the two of them were chat- Clausnitzer. Soon, executives at tech for and others it is working on. “We sign a contract with Sono Bello. er sample of patients. ting on the phone. Katakowski was a companies in Silicon Valley were y- think competition is a good thing. It “Establishing safety and ecacy in a research scientist at Henry Ford ing to Ann Arbor to get their stem cells helps get the word out,” he said. Contact: [email protected] clinical trial process results in the best Health System and Clausnitzer was a banked. One was Paul Bohm, an ac- Other companies include Vault SC (231) 499-2817; @TomHenderson2

24 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 BEAUMONT From Page 3

Since November, Lewis has written more than three letters to Beaumont executives and surgery sta to alert the eight-hospital system that its poli- cies are a ecting patient care and surgeons’ ability to practice at the hospital. He told Crain’s in mid-December his pleas “have fallen on deaf ears.” “I would be derelict in my duties if I were not to advocate for the department of surgery, my surgical col- leagues and all its employees,” Lewis said a Dec. 1 letter to Beaumont ad- ministrators. “I write with a nal sin- cere request that you nd a way to address the critical stang issues at Beaumont Trenton a ecting the ORs and department of surgery.” Carolyn Wilson, Beaumont Health’s COO, acknowledged sta shortages at Trenton and in certain departments across the system. But she doesn’t agree with Lewis that un- derstang at Trenton has impacted patient safety. She said the system is in the process of recruiting additional CRNAs, surgery nurses and other support sta at the Trenton hospital and other facilities. On Dec. 30, Beaumont Hospital Trenton acting president Lee Ann Odom emailed Trenton hospital employees to criticize Crain’s Dec. 23 Beaumont Hospital in Royal Oak. | BEAUMONT HEALTH online article that outlined physician and nurse complaints about OR sta - ing at Trenton. In her email, Odom acknowledged “frustrations of our surgeons and sta ” about periopera- tive services at Trenton. “We have been working diligently to allay these concerns since Octo- ber. e article is not reective of who we are at Beaumont Trenton,” she said. Lewis Wilson In her letter, which Lewis charac- terized as a “political response,” the rst nine months of 2019 was Odom listed recent accomplishments $127.8 million, or a 3.7 percent oper- of the hospital, including receiving a ating margin, a $2.6 million decrease “A” grade from e Leapfrog Group for from 2018’s result of $130.3 million, patient safety, a No. 21 “best hospital” or a 3.8 percent operating margin. ranking in Michigan by U.S. News and Beaumont Hospital Trenton opened in 1961. | BEAUMONT HEALTH Wilson said Beaumont has taken World Report for 2019 and a ve-star steps this fall to reduce costs because rating by Medicare. other additional sta are being re- caused it, she said. ing based on budget,” Odom said, expenses are rising faster than its in- On allegations of sta shortages that cruited to support the hospital’s pro- But Laird said at one time Beau- adding: “We attempt to keep our pa- come this year. She said the budget have limited OR schedules, Odom said grams, including neurosurgery, vas- mont Trenton had 18 CRNAs. Over tients close to the communities they process for 2020 identied a need to the hospital now has 12 full-time cular surgery and gastroenterology. the past several months, nine have live in. When we must transfer a pa- reduce expenses and improve e- CRNAs and two others are in the em- However, three sources, who asked left, including the hospital’s lead tient, we work with patients to honor ciencies. ployment process. ree Trenton sur- for anonymity, told Crain’s that sev- CRNA who has 27 years experience, their choices and facilitate a transfer As a result, Beaumont said in a geons told Crain’s in December that six eral surgeons and doctors in those Laird said. In addition, Trenton has to the appropriate level of care.” statement to Crain’s, another 50 em- surgical CRNAs had resigned, leaving departments left or stopped serving lost more than half of its 15 circulating ployees have been laid o or resigned only 10 to sta the ORs. Beaumont during the past several nurses and 15 scrub technicians, he Cost-cutting plan since August, bringing the total to at But on Jan. 2, Lewis said in an months because of disagreements said. least 225 for 2019. Most of the recent email to Crain’s that the stang situ- with management on stang and Earlier this year, Beaumont began a Crain’s reported in August that reductions were managers or execu- ation began to improve after doctors use of facilities. reorganization that has led so far this Southeld-based Beaumont Health tives, Beaumont said. and nurses complained and Crain’s Despite the improved communica- year to the reduction of more than 225 had laid o 175 of about 38,000 em- Another issue related to stang published its Dec. 23 article. tion, Lewis said the ORs at Trenton are employees, including several dozen ployees, the most during a year since has to do with Beaumont’s 2020 bud- “(e) article did act as a catalyst still understa ed and at least four sur- managers and executives, but ocials 2008 and 2009 when about 600 were get. Over the past month, Wilson said for excellent dialog and movement geons are leaving Beaumont or asking say those reductions are unrelated to laid o during the recession. Beau- Beaumont has been wrapping up on the part of the administration,” for admitting privileges at nearby the current sta shortages. mont also said hiring is up compared budget planning for the new year. Lewis wrote. “We currently have tem- Henry Ford Wyandotte Hospital. Lewis, as well as other doctors and with hirings during the same period She said Beaumont plans to cut ex- porary nurses lling roles as other Lewis said he has asked the Wyan- nurses, aren’t so sure. ey tell Crain’s in 2018. penses in several areas for 2020, nurses are being the trained. Beau- dotte administrator to permit Tren- they haven’t been given good reasons In 2018, Beaumont increased op- while maintaining quality and safety. mont has reached through the sys- ton surgeons to block schedule sur- for the cutbacks or apparent lack of erating income 3.4 percent to $174.4 “With payer revenue at and the tem to obtain CRNAs that are willing geries on Tuesdays so doctors and urgency to ll positions. million for a 3.9 percent margin from impact of auto no-fault ... we have to to sta certain days and cases to ll patients can plan for operations and “We’ve been a system for ve years. $168.6 million and a 4 percent mar- nd eciencies,” said Wilson, adding our needs until we can reach a per- other procedures. e rst 3 1/2 years Trenton was the gin in 2017. Total revenue increased 5 that supply costs are projected to in- manent solution.” Raymond Laird, D.O, a general most protable in the system by their percent in 2018 to $4.66 billion from crease by 5 percent and pharmacy by Lewis said he and Trenton’s sur- surgeon and Trenton’s vice chair of data and No. 1 in quality by their met- $4.44 billion in 2017. However, net 6 percent. gery department are hopeful the situ- surgery, said he was conducting sur- rics,” Lewis told Crain’s. “Nobody here income dipped to $142.1 million in In 2020, Beaumont is projecting to ation will continue to improve. “e geries on 10 patients a week at Tren- made demands. We just want to take 2018 from $321 million in 2017, pri- lose $28 million on auto no-fault in- next few weeks will be very telling,” ton two to three months ago. Now he care of more patients. We have been marily due to legal settlements and a surance payments in just one six- he said. is down to three per week because of accused of not doing enough, the dip in investment income. month period, Wilson said. Last On Dec. 20, Beaumont appointed the short stang and lack of OR time. nurses not working hard enough. ... During the rst nine months of summer, Michigan reformed its auto Tammy Scarborough president of Laird and his surgeon wife Cristen My only conclusion is they are trying 2019 ending Sept. 30, Beaumont no-fault laws in an attempt to lower Beaumont’s Taylor, Trenton and Laird have applied for privileges at to cut costs any way they can — saving steadily increased net income to the nation’s highest premiums. Wayne hospitals. Scarborough Henry Ford Wyandotte. money by not hiring nurses — to in- $258.7 million, an increase of $132 e law, which goes into e ect July comes from Akron-based Summa On doctors leaving Beaumont crease their margins.” million for the same period in 2018. 1, imposes fee schedules for medical Health, which Beaumont recently ac- Trenton to go to other hospitals, Wil- In her letter, Odom denied reduc- Operating revenue also increased to providers that are expected to cut quired. Scarborough will step into son said: “I think doctors in South- ing sta because of budgetary reasons $3.49 billion, a $103.4 million in- hospital and provider revenue rather the president role in February, re- east Michigan and in other markets or transferring patients unnecessarily crease over the $3.39 billion reported signicantly. placing Christine Stesney-Ridenour, are going through change. It is fair to to other Beaumont hospitals. in the third quarter of 2018, accord- who left Beaumont in August. say there is general unrest. I don’t “We pay overtime, and we have not ing to its latest nancial report. Contact: [email protected]; Odom also said in her email that know of anything specic” that has limited recruitment, services or sta - However, net operating income for (313) 446-0325; @jaybgreene

JANUARY 6, 2020 | CRAIN’S DETROIT BUSINESS | 25 THE CONVERSATION For Tosha Tabron, money crainsdetroit.com Editor-in-Chief Keith E. Crain Publisher KC Crain is a transformation tool Group Publisher Mary Kramer, (313) 446-0399 or [email protected] INVEST DETROIT: Tosha Tabron, senior vice president of lending at Invest Detroit, has two objectives: making money move in the city’s Associate Publisher Lisa Rudy, (313) 446-6032 or [email protected] neighborhoods and helping transform them into places where her kids can see a future. A northwest Detroit native, the banking and nance Managing Editor Michael Lee, veteran has a unique understanding of the city. So, when JPMorgan Chase made its initial $100 million commitment to Detroit, Tabron was (313) 446-1630 or [email protected] tapped to oversee it. She led CEO Jamie Dimon and other executives around town, telling them how it would be best spent. Five years later, Group Director: Business Process Kim Waatti, (313) 446-6764 or [email protected] the bank has doubled down, others have followed and there’s a lot more money for Tabron to move. | BY KURT NAGL Digital Portfolio Manager Tim Simpson, 313-446-6788 or [email protected] `How did you start down the bank- We went on tours. They got to see the ners. Myself and Melinda Clemons sit- basically unlocked a lot of resources Creative Director David Kordalski, ing and nance road? devastation of disinvestment and blight ting around the table saying, “What else for minorities. It taught them what (216) 771-5169 or [email protected] Tabron: There was this moment in time in the city and said that we’ve got to put can we do to make sure that minority they needed and gave them the pieces Assistant Managing Editor Dawn Ri enburg, when I realized that money moves the some things together that can address developers are included in what’s hap- that they were missing to actually do a (313) 446-5800 or dri [email protected] world, and for me, it started at 6 years old the physical development of the city. pening in the neighborhoods?” There’s commercial product. News Editor Beth Reeber Valone, when I saw money at a banking center We need to work with the community not enough of them around the city. We (313) 446-5875 or [email protected] and said, “I want to be around that.” My development nancial institutions that created this program called Equitable `Why make the move to Invest Senior Editor Chad Livengood, (313) 446-1654 or [email protected] rst job after graduating (from Grand can do it in a way that we can’t. Development Initiative. That program Detroit? Special Projects Editor Amy Elliott Bragg, Valley State University) was with Michigan I get the opportunity to be on the (313) 446-1646 or [email protected] National Bank, supporting small housing `What was the biggest challenge of ground. The work that I did was to Design and Copy Editor Beth Jachman, developers as an analyst and realizing moving all that money? fund all these CDFIs (community (313) 446-0356 or [email protected] how doing in eld development, and how You’ve got a large institution that has development nancial institutions), Research and Data Editor Sonya Hill, this kind of cleaning up of a block, even done a signi cant amount of invest- but now is the time for me to really (313) 446-0402 or [email protected] if it’s only 10 homes, would change the ment before, but it was still foreign to position the resources and the money Newsroom (313) 446-0329, FAX (313) 446-1687 whole landscape of a neighborhood. So them — this type of landscape and to these blossoming entrepreneurs and TIP LINE (313) 446-6766 just moving money into the right hands not knowing all the partners. So, you’re developers. I was drawn to the fact that REPORTERS could really change how a place could really asking your executive team to the city was taking an interest in CDFIs Annalise Frank, breaking news. physically look. trust that our risk tolerance is gonna in a dierent way than they ever have (313) 446-0416 or [email protected] have to be pretty high, and we’re in my career. We went from having only Jay Greene, senior reporter, health care. `You started with Chase around the gonna have to gure out how to build three CDFIs when I rst started working (313) 446-0325 or [email protected] time it announced its big Detroit some of these partnerships to allocate in the city of Detroit, and now we have Kurt Nagl, breaking news. investment, right? these large chunks of money. These 16 operating in the market. It was (313) 446-0337 or [email protected] I had been with Chase 60 days. They had small organizations hadn’t been just an opportunity for me to not Kirk Pinho, real estate. charged me with completing the budget used to seeing multimillion-dol- only, quite frankly, spend Chase’s (313) 446-0412 or [email protected] we had, which was about $1.5 million, lar investments and these big money, but you’ve got a number Dustin Walsh, senior reporter, economic issues. and I had to move it in 90 days, so I made chunks that we wanted to give of corporate partners now, a (313) 446-6042 or [email protected] just over $1.5 million in investments in them. That meant that we really number of philanthropic part- Sherri Welch, senior reporter, nonprots and a few months. Just as I was wiping my had to be exible and willing ners, all working together to do philanthropy. (313) 446-1694 or [email protected] brow, patting myself on the back, we to take some dierent types of these catalytic projects. MEMBERSHIPS got a call from Jamie Dimon and our risks with dierent organiza- CLASSIC $169/yr. (Can/Mex: $210, International: $340), team saying he’s obsessed with the city tions we had not taken those `Why does this work matter ENHANCED $399/yr. (Can/Mex: $499, International: $799), and he wants to do something special kinds of risks with before. to you? PREMIER $1,299/yr. (Can/Mex/International: $1,299). for our city — put all your best ideas on I care about making sure To become a member visit www.crainsdetroit.com/ paper. I was orchestrating a number of `What's been your proudest that as the growth of this city membership or call (877) 824-9374 players across the country that Jamie professional accomplishment? happens, the people and folks who ADVERTISING was bringing in to kind of get a sense A mantra of mine has been making sure have withstood the hard times have an Sales Inquiries (313) 446-6032; FAX (313) 393-0997 for the city, and in nine months we put a that minority developers and women opportunity to actually take advantage Director, Program Content Kristin Bull, plan together. developers come along for the ride with of the spotlight the city has right now. (313) 446-1608 or [email protected] any kind of growth that happens in And that matters so that my kids have Senior Account Executive John Petty `What were you telling them about the neighborhoods. One of the things an opportunity to grow up and prosper Senior Account Manager/Political Specialist the city? I’m proudest of is the programming in the city. I want my boys to have the Maria Marcantonio I was telling them that this city has a lot that has happened and the number same kind of pride for Detroit that my Advertising Sales to be invested in. It’s been disinvested of investments that have happened to mother and father instilled in me. I want Lindsey Apostol, Mark Polcyn, Sharon Mulroy for a long time. We need some disruptive make sure that inclusive development them to be proud of the city as well. People on the Move Manager Debora Stein, programming here, and there’s a couple continues to happen. For instance, after (917) 226-5470, [email protected] of agencies around the city that have the Entrepreneurs of Color Fund was Events Director Kacey Anderson Senior Art Director Sylvia Kolaski been leading that type of work but that proven to be successful, we founded Tosha Tabron is senior vice have been underfunded for a long time. another program at Capital Impact Part- Director of Media Services Joseph (Sam) Tanooki, president of lending at Invest (313) 446-0400 or [email protected] READ ALL THE CONVERSATIONS AT CRAINSDETROIT.COM/THECONVERSATION Detroit. Integrated Marketing Specialist Keenan Covington Classi ed Sales and Sales Support Suzanne Janik CUSTOMER SERVICE Single copy purchases, publication information, RUMBLINGS or membership inquiries: (877) 824-9374 or [email protected] Reprints: Laura Picariello Fischer con rmed as ambassador to Morocco (732) 723-0569 or [email protected] DAVID FISCHER OF THE SUBURBAN COL Emirates in September and stepped booster. She closed out the opening LECTION WAS CONFIRMED by the U.S. down from Walbridge. night of Detroit Homecoming at Senate to be ambassador to Moroc- Michigan Central Station in 2017 Crain’s Detroit Business is published by co Dec. 19, the day after the House `SONGWRITER, PERFORMER with a performance of “September.” Crain Communications Inc. of Representatives took a historic ALLEE WILLIS REMEMBERED at year, Willis also debuted “ e Chairman Keith E. Crain vote to impeach President Donald D,” her “love song to Detroit,” which Vice Chairman Mary Kay Crain President KC Crain Trump. GRAMMY WINNING SONGWRITER AND she recorded over the course of ve Senior Executive Vice President Chris Crain Fischer ran the Troy-based Sub- LONGTIME DETROIT BOOSTER ALLEE WIL years. Secretary Lexie Crain Armstrong urban Collection car dealership LIS died Dec. 24 in Los Angeles. She e song included the voices of Chief Financial Ocer Robert Recchia group for decades. He resigned in Fischer Willis was 72. over 5,000 Detroiters — a record G.D. Crain Jr. Founder (1885-1973) the past week from his roles as e Detroit native was notable number of vocalists on a single Mrs. G.D. Crain Jr. Chairman (1911-1996) chairman and CEO of e Suburban Northern African nation. for her collaboration with Earth, track. Editorial & Business Oces Collection and e Suburban Col- Fischer Sr. was a mega-donor to Wind and Fire, with whom she co- She told the New York Times in 1155 Gratiot Ave., Detroit MI 48207-2732; lection Holdings LLC. David Fischer the Trump inauguration. Both he wrote the hit songs “September” 2018 that growing up in Motown’s (313) 446-6000 Jr. has replaced him and was named and John Rakolta Jr., former CEO of and “Boogie Wonderland.” She backyard taught her how to make Cable address: TWX 248-221-5122 AUTNEW DET president and CEO of both, accord- the Detroit-based construction wrote the score of the Broadway music. CRAIN’S DETROIT BUSINESS ISSN # 0882-1992 is published weekly, except the last issue in December, by Crain Communications Inc. at 1155 Gratiot Ave., Detroit ing to a Suburban Collection spokes- company Walbridge Aldinger Co. musical “ e Color Purple” and the “I would sit on the lawn” of the MI 48207-2732. Periodicals postage paid at Detroit, MI and additional mailing man. and former nance chairman of Mitt theme song for the TV show record studio, she told the Times. oces. POSTMASTER: Send address changes to CRAIN’S DETROIT BUSINESS, Circulation Department, P.O. Box 07925, Detroit, MI 48207-9732. GST # Fischer Sr. was sworn in for his Romney’s two presidential cam- “Friends,” earning a Tony and an “You could watch everyone come 136760444. Printed in U.S.A. new position Dec. 27. Trump nomi- paigns in 2008 and 2012, donated Emmy nomination, respectively, in. But most importantly you could Contents copyright 2020 by Crain Communications Inc. All rights reserved. Reproduction or use of editorial content in any manner without permission is nated Fischer two years ago to be his $250,000. Rakolta was conrmed as for those works. hear through the walls, which is prohibited. administration’s liaison to the ambassador to the United Arab Willis was also a lifelong Detroit how I became a songwriter.”

26 | CRAIN’S DETROIT BUSINESS | JANUARY 6, 2020 CRAFTED BY INDUSTRY EXPERTS TRUSTED BY INDUSTRY LEADERS Crain’s Content Studio is the marketing arm of Crain’s Detroit Business. We leverage our storytelling strength and creative distribution to provoke new thinking and inuence decision makers.

VIEW OUR PORTFOLIO BY VISITING crainsdetroit.com/studio Interested in a complimentary consultation? Email Kristin Bull at [email protected]

CRAIN’SCONTENTSTUDIO CHICAGO CLEVELAND DETROIT NEW YORK REGISTRATION OPEN FOR

NEWSMAKER OF THE YEAR

In this issue, Crain’s recognizes the top 10 names in Southeast Michigan who made news and headlines the previous year. These change-making individuals will be recognized at a special luncheon. This is the first high-powered networking event of 2020 and brings together a crowd of more than 400 movers and shakers.

FRIDAY, FEB. 21 MGM GRAND DETROIT • 11 A.M. – 1 P.M.

TICKETS: $90 individual tickets $1,000 reserved table of 10

For advertising and event sponsorship information, contact Lisa Rudy at [email protected]