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A Year in Business

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A Year in Business 20111219-NEWS--0001-NAT-CCI-CD_-- 12/16/2011 6:09 PM Page 1 ® www.crainsdetroit.com SPECIAL HOLIDAY EDITION 2011 $2 a copy; $59 a year ©Entire contents copyright 2011 by Crain Communications Inc. All rights reserved Page 3 AG in no hurry for action on health insurance exchange M1 Rail back where it started day. “And the clear sense coming Private backers see rail complementing bus plan from that is that there is every rea- son to press forward.” BY DANIEL DUGGAN As the corporate donors and Rapson was one of close to 20 cor- Timing of the project is contin- AND NANCY KAFFER leaders of the rail project regroup porate and non- gent on government approvals, but CRAIN’S DETROIT BUSINESS for another run at Woodward light profit leaders on construction could start 12 months rail, they say they’ve learned from a conference call after getting a green light. What started as a small, private- the experience. And, they say, Wednesday in ly funded rail system took three those lessons will inform the sec- which it was de- years to morph into a regional, fed- ond life of M1 Rail. cided to press on Back to 2007 erally funded bus system. “There must have been 20 criti- with the plan. The original vision for M1 was In between are a number of deci- cal decision points that at the time “We had an simple: Find corporate investors sions that, in hindsight, the pri- seemed reasonable and necessary informal call to back a privately funded rail sys- vate backers of the M1 light rail to follow,” said Rip Rapson, presi- yesterday of the tem that would run from Jefferson project in Detroit — who remain dent of the Troy-based Kresge Foun- M1 member- Avenue to Grand Boulevard. committed to the concept — say dation, one of the groups backing Rapson ship, almost two Entrée to China: could have been made differently. the rail plan in Detroit. dozen people,” Rapson said Thurs- See Rail, Page 5 Neapco calls the shots St. John makes ‘strategic’ purchase in Farmington Hills A year in business Universities: Inside Veto bill banning Village Green plans Features new apartment complexes, look back Page 10 partner benefits – and forth Perk called important This Just In MOUSE CLICKS to schools’ recruitment Page views at Water department bond BY DUSTIN WALSH crainsdetroit.com sale meets ‘good demand’ reveal the top 25 CRAIN’S DETROIT BUSINESS stories of 2011, Despite the city’s financial Michigan universities face uncertainty according to Crain’s woes, the Detroit Water and readers. Hint: A guy over the right to offer what for some is a valu- Sewerage Department had no named Dan was a big able recruitment tool: domestic partner bene- trouble selling $484 million draw, Pages 8-9 fits. in water and sewer debt last The Michigan House and Senate are at week, The Wall Street Jour- odds over a bill banning domestic partner nal reported. SHUTTER CLICKS benefits for state employees. At issue is The bonds were sold with whether the bill applies to the state’s 14 pub- yields ranging from 0.60 to lic universities and whether the state consti- 1.80 percentage points more tution protects them from the bill. than top-rated municipal House Bill 4770, sponsored by Rep. Dave bonds. Detroit’s bonds are Agema, R-Grandville, passed the Senate this generally rated junk, and month with amended language that may ex- Moody’s Investors Service and empt university employees from the ban. Fitch Ratings have placed the However, several House Republicans told re- city’s rating on review for a porters the bill will apply to university em- downgrade. ployees. Still, that yield is lower Sara Wurfel, Gov. Rick Snyder’s press sec- than in an earlier pricing, retary, said the governor’s legal team is as- The Journal reported Thurs- sessing the bill’s language to determine day, “an indicator of good de- Ten images that whether universities are helped tell the year’s mand.” in fact exempt but would stories, Page 11 Moody’s and Standard and not speculate on whether Poor’s rated the sale “midlev- the governor would sign el investment grade” or A1 LOOKING BOTH WAYS the bill. Snyder has until and A-, according to the re- Analyzing the past Dec. 27 to sign or veto the port. Proceeds will finance and peering into the bill. capital improvements and future, reporters break The uncertainty has uni- “terminate the water depart- down their beats, blog versity officials urging ment’s outstanding swaps,” style, Pages 12-17 Snyder to veto it. which have a net termination “The language is am- Boulus value of about $210 million. biguous and about as clear Water department officials TALKING 2011 as mud,” said Mike Boulus, executive direc- say that the sale was a rou- The best of Crain’s tor of Lansing-based Presidents Council, State tine offering and that a No- online reader Universities of Michigan. “At this point, we vember court ruling gives comments from the don’t know whether the bill includes us, so past year of Talk on the water department more we’re urging the governor to veto.” the Web, Page 17 autonomy. University officials believe the ban will — Nancy Kaffer See Bill, Page 4 DBpageAD.qxp 12/7/2011 5:22 PM Page 1 BANKING EXPERIENCE THAT PAYS. AND PAYS OFF. Yes, Huntington has the solutions to help your business win just like we’ve helped these companies. But what sets us apart is our experienced bankers who know how best to implement them. What kind of advantage could all that experience provide for your company? To find out, please contact: Brian Marshall SVP, Commercial Banking 248-244-2293 Member FDIC. ®, Huntington® are federally registered service marks of Huntington Bancshares Incorporated. Huntington® Welcome.™ is an exclusive mark of Huntington Bancshares Incorporated. ©2011 Huntington Bancshares Incorporated. 20111219-NEWS--0003-NAT-CCI-CD_-- 12/16/2011 6:08 PM Page 1 December 19, 2011 CRAIN’S DETROIT BUSINESS Page 3 Schuette: Don’t rush insurance bill Q&A Election, courts could end need for health exchange This is one issue BY CHAD HALCOM vising legislators and others in the issues you discuss, that is a “ CRAIN’S DETROIT BUSINESS Lansing that a state insurance ex- very good (relationship) to have,” where change can wait until after the he said. “This is one issue where Michigan Attorney General Bill presidential election or at least un- we have had a respectful differ- (Gov. Schuette said he sees “no rush” to til the outcome of a constitutional ence of opinion.” pass legislation creating a challenge to the federal health care Last week, the House passed, Snyder statewide health insurance ex- reform bill, which goes for oral ar- and the Senate later approved, a change, because so much can still guments before the U.S. Supreme revised version of a supplemental and I) happen next year that would elimi- Court in March. funding bill that removes the $9.8 nate the need for one. Essentially, that means the million in federal planning grant have had a New CEO expects an exciting The legislation that creates a state’s top law enforcement official funds awarded to the state last framework to authorize MIHealth has sided with the Republican-con- month by Health and Human Ser- respectful ride at Lycera, Page 20 Marketplace to be established as a trolled House and its slow-track vices Secretary Kathleen Sebelius. nonprofit corporation has been approach to the exchanges over In the past, Snyder has pushed difference of idle in the House Health Policy that of Gov. Rick Snyder, whom for the House to take an aggressive opinion. Committee since it cleared the Schuette calls a friend. hearing schedule and vote soon on ” Senate in a 25-12 vote last month. “When you have a friend (in the bill that establishes the insur- Company index Bill Schuette, Schuette told a Crain’s editorial Snyder) that you happen to be in Michigan attorney general These organizations appear in this week’s Crain’s board meeting Thursday he is ad- agreement with about 90 percent of See Schuette, Page 4 Detroit Business: 5-Hour Energy . 9 Andiamo Restaurant Group . 9, 16 Ann Arbor Spark . 14 Arboretum Ventures . 14 St. John makes Beaumont Health System . 13 Blue Cross Blue Shield of Michigan . 13, 18 Borders Group. 9 Butzel Long . 13 ‘strategic’ buy Center for Automotive Research . 6 Chrysler Group . 8 Colliers International . 12 Compuware . 14 of former Fisher Detroit Lions . 15 Detroit Medical Center . 13 Detroit Pistons . 8, 15 Detroit Science Center . 16 Center’s 31 acres Detroit Tigers . 15 Downtown Detroit Partnership . 5 Energy Conversion Devices . 14 BY SHERRI WELCH Fieger, Fieger, Kenny, Giroux, Danzig . 9, 13 CRAIN’S DETROIT BUSINESS General Sports & Entertainment . 9 Grubb & Ellis . 12 St. John Providence Health System has acquired Henry Ford Health System . 14 the 31 acres of Farmington Hills property that has stood vacant since St. Vincent Sarah Fisher Kresge Foundation . 1 Center closed the orphanage it had operated Life Magnetics . 14 there in 2006. Living Essentials . 9 St. John Providence Health paid the Daugh- COURTESY OF NEAPCO HOLDINGS Lycera . 20 CEO Bob Hawkey thought Neapco Holdings would “kind of subcontract” production in China. Then a ters of Charity of St. Vincent De Paul, which found- M1 Rail . 1 customer told him, “You have to be there in substance, not just in name.” ed the center in 1851, $1.05 million or “fair mar- Magna International . 9 ket value” for the property Matt Prentice Restaurant Group .
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