20091214-NEWS--11-NAT-CCI-CL_-- 12/10/2009 10:59 AM Page 1 20091214-NEWS--12-NAT-CCI-CL_-- 12/10/2009 3:32 PM Page 1

ADVERTISING The Best Holiday Gifts Come in Local Packages Shop local this holiday season and you could win a $500 shopping spree, not to mention the potential of adding millions of dollars to our local economy.

By Steve Millard receive a rebate. For example, you may receive 10 percent off a Steve Millard y now you already have $100 purchase, then that rebate your holiday shopping can either be yours to keep, or President Blist. But with the season you can choose to donate it to and Executive There’s a Local Spot for That! Director, fast approaching, now is the time your favorite local charity. With more than 13,000 local businesses to choose from, you can find lo- Council of to check it twice and decide in Now that’s the true spirit of cal gift ideas or share your ideas with others through our interactive so- Smaller what restaurant, store or with giving. cial media page. You can even post the page to any of your social media Enterprises sites. Give it a shot—and find the perfect local spot for that. what service provider you’re ac- (COSE) tually going to spend those holi- >ibuyneo.com or (216) 592-2222 >ibuyneoholiday.com day dollars. Will you choose big-box stores to help boost economies in other states, or decide to spend with

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local small businesses like your- self? Sound trivial? It’s not. Where you spend your money on shop- ping, dining and services this month could affect Northeast Ohio’s overall economy and our ability to sustain and create jobs. If you remember, I Buy NEO launched their first Buy Local Week over the July 4th holiday week to encourage consumers to pledge to redirect just $100 of planned spending with a local merchant. The results were as- tounding redirecting more than $53,000 back into Northeast Ohio’s economy in just one Whether you need eclectic Jewelry Or festive week. If consumers maintained that pace for an entire year, than decorations... There’s a LOCAL SPOT for that! $2.7 million could give our sag- ging economy a real boost. But with the hustle and bustle of the season, finding the local merchants who can help you I Buy NEO promotes locally owned businesses that support your shopping wrap up your holiday shopping could be a hassle. Where do you and service needs. Enjoy unique offers and earn cash back rewards, go? Ibuyneo.com has the an- swer. Support a local nonprofit and make a positive impact on our local economy Ibuyneo.com has compiled a handy directory (ibuyneo.com/di- rectory.asp) to help you find ex- Support Locally owned businesses this holiday season! actly what you’re looking for while keeping those valuable dollars in the region. With more No purchase necessary. For full contest details, visit www.ibuyneo.com. than 13,000 local businesses to choose from, there’s no doubt you’ll find just the right gift for the special people on your list. How does it work? It’s simple, just swipe your I Buy NEO Com- Local munity Card (get yours at ibuy- neo.com) between now and De- cember 31 and you’ll not only Guide make our economy stronger, but

you’ll also be entered into a visit Visit: ibuyneo.com/directory.asp drawing to win a $500 local ibuyneo.com for a free guide of local spots to shop. shopping spree. Plus, with every swipe you’ll 20091214-NEWS--13-NAT-CCI-CL_-- 12/10/2009 3:30 PM Page 1

DECEMBER 14-20, 2009 CRAIN’S CLEVELAND BUSINESS 13

INSIDE 15 INTERVIEW: NAT’L CENTER FOR FAMILY BUSINESS, DENISE WARRUM SMALL BUSINESS

BEACHWOODBUSINESS MAGNET DEVELOPMENTCENTER FREEDOM MEDITECH

SURE TO GROW reedom Meditech has just two employees, but they ith the help of the aren’t alone in their effort to Beachwood Business fix what CEO Craig Misrach Development Center, Fdescribes as an “enormous global 6062 Holdings LLC problem.” almostW was sure to grow. The company, which is develop- The Beachwood startup, which ing ways to diagnose and monitor develops and sells a plant growth diabetes without medium called Sure to Grow, drawing blood, should vastly increase its office has received an space next August, when the entire outpouring of development center is scheduled to support from move into 60,000 square feet within members of a city-owned building. Ohio’s business The center is making more than and research 5,000 square feet available to Sure communities, to Grow for use as a research-and- Misrach including the development lab, where it will test Manufacturing new versions of its polymer-based Advocacy and Growth Network, plant growth products and teach which is one of Ohio’s Edison schoolchildren about hydroponics. Technology Centers. The presence of Magnet was a For more, go to www.Crains PHOTOS PROVIDED factor in helping Freedom Meditech, Cleveland.com/suretogrow. Sure to Grow co-founders, and brothers, Cary (left) and Eric Senders work in the startup’s “grow room.” which already had an office in San Diego, open a Northeast Ohio loca- tion, Mr. Misrach said. AKRONGLOBALBUSINESSACCELERATOR Beyond access to affordable space in its incubator at 1768 E. 25th St. in Cleveland, Magnet provides access to REXORCE THERMIONICS INC. lasers and equipment Freedom Meditech uses to test its prototypes, f startup companies were children, rexorce which scan the eye to measure glu- Thermionics Inc. would be a college student: still cose levels in the bloodstream. partially subsidized, but getting ready to go it alone. For more on this incubator IThe company, which is developing a system for turn- startup, go to www.Crains ing industrial waste heat into electricity, technically still Cleveland.com/meditech. is a resident of the Akron Global Business Accelerator, but has its own space at 405 S. High St., just a few blocks Rexorce Thermionics Inc. co- from the 200,000-square-foot former tire manufacturing founder Michael Gurin (left) plant that serves as the incubator’s main building. and CEO Philip Brennan have The 18-person company expects to grow out of its plans for a pilot unit to be 18,000-square-foot headquarters by January 2011, said installed in January for a CEO Phil Brennan. large utility. For more on this incubator startup, go to www.CrainsCleveland.com/rexorce. Diabetes monitoring device JUST GETTING STARTED

Northeast Ohio’s business incubators help NORTHEAST OHIO INCUBATORS ■ Akron Global Business Acceler- business at all stages. www.glideit.org ator: Helps new companies commer- ■ JumpStart TechLift Advisors: fledgling firms grow new ideas, products cialize advanced materials, electron- A virtual incubator that targets what it ics and instrumentation and information calls “high-potential technology By JAY MILLER While the scientists who devel- operating in Northeast Ohio that technologies. www.ci.akron.oh.us/aii entrepreneurs.” [email protected] oped and are refining the technology aim to assist entrepreneurs who ■ Beachwood Business Develop- www.jumpstartinc.org/Techlift get the lion’s share of the credit have ideas for businesses. It was ment Center: Specializes in interna- Advisors/ hen VasoLux for the company’s growth so far, created and continues to be tional businesses looking to establish ■ Magnet: The Manufacturing MicroSystems LLC general manager Elliot Reed supported by the Lorain County a U.S. presence. It also accommodates Advocacy and Growth Network moved into the Great believes the company’s presence commissioners, Lorain County local startups. www.beachwood.org supports manufacturers of all stripes. Lakes Innovation and at GLIDE, a business incubator, Community College and the Ohio /businessdevelopmentcenter.htm www.magnetwork.org DevelopmentW Enterprise on the helped it mature and succeed. Department of Development and ■ BioEnterprise: Focuses on health ■ Mentor/CADventure: Scheduled campus of Lorain County “I think the most important its Thomas Edison Program, a care companies and firms that com- to open in January, this incubator will Community College in Elyria it thing for us (about being in an state effort to transfer technology mercialize bioscience technologies. focus on helping companies with was little more than an idea — an incubator) is to have the ability to from the lab to finished product. www.bioenterprise.com product development. idea that needed time to grow, have business experts on hand to The Northeast Ohio Incubator ■ Civic Innovation Lab: Funds up to ■ Sherwin-Williams CRADLE: The time to incubate. provide instant consulting,” Mr. Collaborative estimates that the $30,000 for ideas that can have an Creative Research and Development Now, nearly five years later, its Reed said. “If we have issues related businesses associated with that impact on the Greater Cleveland econ- Laboratory Environment Technology fiber-optic, minimally invasive to complex corporate structuring organization’s five northern Ohio omy. www.civicinnovationlab.org Incubator Laboratories offers probe, which measures the extent or deal making, we can go in and affiliates helped create 784 jobs ■ Great Lakes Innovation and chemistry laboratory, office and of damage in joints’ cartilage, is just talk with them.” and a payroll of $39 million from Development Enterprise: GLIDE meeting space in Valley View. ready for U.S. Food and Drug GLIDE is one of about 10 similar 2006 and 2008. Sales revenue of assists entrepreneurs in growing their www.swcradle.com Administration trials. incubator-type organizations See INCUBATORS Page 16 20091214-NEWS--14-NAT-CCI-CL_-- 12/10/2009 11:00 AM Page 1

14 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 14-20, 2009 SMALL BUSINESS

Due to the inherent confusion in the rules discussed above, a series of Worker classification draws more IRS scrutiny “safe harbor” rules allow a business to treat a worker as an independent contractor if certain criteria are met. orker classification has list of 20 factors to consider when ines the degree of control the busi- CARLGRASSI These rules allow a business that been a battleground determining whether a person ness has over the worker. If the categorizes a class of workers as inde- between the IRS and providing services is an employee worker controls the method by pendent contractors in good faith to business owners for or independent contractor. The which a project gets done, the rela- avoid a reclassification by the IRS, a moreW than 40 years. Several signifi- degree of importance of each factor tionship looks more like that of an situation that can be devastating to a cant announcements in the last varies depending on the occupation independent contractor. business where the number of several months have made it clear and factual context in which the ■ The financial element examines employees in that class is significant. that this issue is once again at the services are performed. whether the worker has the ability The requirements of safe harbor top of the IRS priority list. Generally, the more control the to make additional profit if the provisions are based on having a “rea- Workers performing services for a business has over the individual, worker can control expenses and TAX TIPS sonable basis” for such treatment. A business can be classified as either the more likely it is that the individual other efficiencies. reasonable basis for this purpose can employees or independent contrac- will be considered an employee. ■ Finally, the relationship be established by existing case law or tors. Determining the appropriate The IRS refined the 20-factor test into three categories: behavioral element examines factors such as rulings that analyze the tax status of classification for a particular worker in an advisory memorandum that it control, financial control and the duration of the relationship and similarly situated workers. sometimes can be difficult. published in 2001. That memorandum relationship of the parties. whether the worker provides If the business has a reasonable In the 1980s, the IRS set forth a essentially consolidated the factors ■ The behavioral element exam- services for multiple recipients. basis for such treatment and has consistently treated all workers in the same class in the same manner, this can establish a presumption that the treatment is correct and therefore not NationalCity.com/CashFlow subject to challenge by the IRS. This summer, the Government Accountability Office issued a report concluding that worker misclassifica- tion is contributing to the tax gap and made 19 recommendations for how this situation can be remedied. These recommendations included defining misclassification as a violation under the Fair Labor Standards Act and requiring businesses to file Form SS-8 for all new independent contractors. While these only are suggestions, any one of these recommendations would be a significant, detrimental Make sure change for businesses using inde- pendent contractors. In February, the treasury inspector general for tax administration published a report concluding that worker misclassification contributes your cash flow significantly to budgetary shortfalls and imposes numerous other costs on the economy. The report recom- mended that the IRS develop and implement an agency-wide employ- ment tax program, in part, to is headed in improve compliance and reduce the tax gap. In response, the IRS noted that several projects were under way to develop programs aimed at increas- ing compliance with the rules con- the right direction. cerning the classification of workers. Finally, legislation was intro- duced in September aimed at “reversing the trend of the misclas- sification of employees as indepen- dent contractors.” This legislation would modify the standards for the safe harbor treat- ment discussed above, making it more difficult for businesses to meet the safe harbor requirements. Specif- ically, the reasonable basis test only would be met if the employer had a No matter what goals you’ve set for your business, meeting them would be impossible written determination from the IRS without effective cash flow. At National City, we can help improve yours, by taking a close as to the classification of the worker in question (or a worker holding a look at how your business operates, and developing customized cash flow solutions. substantially similar position) or the With help from our business banking experts, we can help you collect receivables faster, IRS had reviewed the status on audit and not proposed any changes. make payments more efficiently, and ensure access to credit when needed. This legislation also would increase the penalties for failure to To learn more about how we can help you improve your cash flow, stop by any National City file certain information returns related to employees. branch, visit NationalCity.com/CashFlow, or call 1-866-874-3675. Between the government reports, the IRS’ stated intention to increase audit activity in this area and the proposed legislation, it is clear that employee classification is an area that will see increased activity. For business owners, problems in this area can be avoided by objectively reviewing the classification of workers and making a determination of status based on the existing criteria. ■ National City Bank, Member FDIC ©2009 The PNC Financial Services Group, Inc. Credit products are subject to an approved credit application. Mr. Grassi is a member and presi- dent of McDonald Hopkins LLC. 20091214-NEWS--15-NAT-CCI-CL_-- 12/11/2009 1:52 PM Page 1

DECEMBER 14-20, 2009 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 15 SMALL BUSINESS

Artisan Landscape & Designs, Lyndhurst 44124 GRANDOPENINGS founded by Dominic Vullo, provides a www.revivestore.com wide range of outdoor aesthetic Revive, an independent boutique more. Russell residents Toby and services, including maintenance, offering fair trade products for men, MENTAL_FLOSS Melanie Maloney will manage the store. installations and snow plowing. women, children and the home has 8051 Mayfield Road 440-729-7774 Phone 216-299-5069 opened at Legacy Village. The store Chesterland 44026 [email protected] Fax 440-236-3412 specializes in eco-friendly, handcrafted www.mentalfloss.com artisanlandscapeanddesigns goods and is owned by Lisa Dunn. Mental_floss has opened its first retail @gmail.com The Legacy Village store is the store. Products offered at the retail ARTISAN LANDSCAPE & DESIGNS second Northeast Ohio Revive loca- outlet include the company’s T-shirt line, 23670 Red Fern Road tion. The original store is on Lee Road its flagship print magazine, the series of Columbia Station 44028 REVIVE in Cleveland Heights. mental_floss books, games, puzzles and www.artisanlandscapedesigns.com 24349 Cedar Road 216-382-4836

PHOTO PROVIDED Denise and the late Roger Warrum THEINTERVIEW DENISE WARRUM National Center for Family Business

By AMY ANN STOESSEL [email protected]

or Denise Warrum, the past several months have been the ultimate lesson in running a small business and succes- Fsion planning. Mrs. Warrum is the widow of Roger Warrum, the founder of the Hudson-based National Center for Family Business, a family business center that provides consulting services and organizes classes, sem- inars and family business retreats. “One of the best things for families (Roger) did was to help them pass on businesses to the next generation,” Mrs. Warrum said. Mr. Warrum died April 6 at the age of 63 — about 2½ years after being diagnosed with lung cancer. Since then, his wife has taken over the center that Mr. Warrum started more than a decade ago. “Most important in my mind right now are the clients. … I want to make sure they’re OK,” she said. Mrs. Warrum has been facilitating meetings with family owned busi- nesses and introducing clients to Dr. Ronald C. Reece, a South Carolina- based business coach helping with Mr. Warrum’s consulting work. Dr. Reece, a psychologist by training, Your doctors. Your hospitals. first met the Warrums about 10 years ago and has helped the center put on a number of seminars, including one this past October. Health Insurance for Your Business. He said one of the biggest chal- lenges family businesses have is communication. “The more successful family businesses truly do look at their business as a business first,” Dr. Reece said. Mrs. Warrum sees much of her mission as carrying on her husband’s work. “He worked with his clients all the way to the last two weeks,” she said. “It was always about his clients.” Looking ahead, one of Mrs. War- SummaCare’s network includes the doctors and hospitals your rum’s biggest challenges is finishing her husband’s third book, “The employees want to see. With SummaCare, your employees have Changing of the Guard,” which ironi- access to more than 50 of the region’s finest hospitals, including cally is about succession planning. “I’m trying to bring up his essence, the Cleveland Clinic Health System, University Hospitals and which was handling some very diffi- cult issues with a sense of humor,” Summa Health System. Plus, our network includes nationwide she said. coverage that follows your employees wherever they may reside or Mrs. Warrum also is gathering arti- cles for the center’s Family Business travel. To learn more about SummaCare, call your agent today or Journal, pursuing potential expan- sion opportunities and planning visit www.summacare.com. seminars and programs — and she’s doing it all with her husband in mind. “You can’t minimize your loss. It feels like he’s sitting on my shoulder,” she said. “I’m doing my best.” ■ 20091214-NEWS--16-NAT-CCI-CL_-- 12/11/2009 9:45 AM Page 1

16 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 14-20, 2009 SMALL BUSINESS

leased at low cost or even no cost. managerial advice on a wide range of JumpStart, however, considers its subjects. Incubators: Facilities offer support TechLift a virtual incubator since it doesn’t offer office space. But it, like Not going out of style continued from PAGE 13 Mansfield and the Youngstown about helping small businesses grow the incubators with a physical pres- The enthusiastic anecdotal the incubators’ companies totaled Business Incubator. more quickly,” said Cathy Belk, chief ence, offers an array of business evidence — most entrepreneurs who $304 million. While the region’s incubators have marketing officer of JumpStart Inc., a services and counseling. graduate out of incubators speak NEOinc, as it’s called, is made up slightly different operating styles and venture development nonprofit in The GLIDE incubator doesn’t limit fondly of their time there — and the of the Akron Global Business Accel- may focus on different kinds of busi- Cleveland that operates Jumpstart itself to any particular industry. incubators’ ability to show that they erator, Lorain County’s GLIDE, nesses, the goals are the same. TechLift Advisors, another Northeast Rather, what its 41 clients and create jobs and revenue have caused Magnet, the Braintree incubator in “Incubators at their heart are Ohio incubator. tenants have in common is access to the incubator movement to grow in the college’s business development recent years. But it’s not at all clear Different, but the same specialists and space, whether it’s on how well they stimulate job creation. Figures from the National Business the Lorain County Community Scott Shane, the A. Malachi Mixon Incubation Association, based on the College campus at GLIDE’S 45,000- III Professor of Entrepreneurial Get a jump on the new year. Ohio University campus in Athens, square-foot Entrepreneurship Inno- Studies at Case Western Reserve Contact The Middlefield suggest the concept has widespread vation Center or in the Great Lakes University, threw some cold water on support. The NBIA estimates there Technology Park, adjacent to LCCC. the movement last year with a white Banking Company now to are 1,100 in the United States and The first step at an incubator is paper that reviewed the international arrange your commercial each typically has an average of 25 gaining admission. GLIDE has a road research on incubators. He concluded 0RIORITIES line of credit, set up new companies at any time. map, what it calls an “innovation that the money spent on incubators continuum,” to assess where an might be better spent elsewhere. accounts with Easy GLIDE and JumpStart are two of five incubators in Northeast Ohio entrepreneur is in the business devel- “It’s not that there is anything -OVEOLDINVENTORY Deposit or simply that get state funding from the opment process and to explain the wrong with incubators,” he told  explore your options. Thomas Edison Program to develop road ahead. If the incubator staff Crain’s Cleveland Business earlier 3TAFF2EVIEWS We’re lending, we’re high-tech businesses. The other three believes the business idea and its this month. “It’s just that there is no #REDIT,INE are the Akron Global Business Accel- proponent have what it takes to evidence they do anything good.” !RRANGE flexible and we’re erator; BioEnterprise, which focuses become a successful business, they But that isn’t stopping the spread here to help! on health and medical businesses; will offer admission. of the incubator movement. A new and Magnet, which assists manufac- Companies that are part of an one is slated to open in Mentor in  WITHMB turing startups. incubator can pick and choose from January. These and the other incubators in a laundry list of services: furnished The city of Mentor, the Mentor the region all are some sort of public- office and lab space; accounting, Economic Assistance Corp. and CAD- private partnership, funded by a mix receptionist and janitorial services; venture Inc., a reseller of product The Middlefield of public, private, university and high-speed Internet access; and even development software, are teaming Banking Company foundation funding. Most specialize the kitchen sink, usually accompa- to create an incubator in an 11,000- in a particular industry or geographic nied by tables and chairs, a coffee square-foot building that CADven- www.middlefieldbank.com area. Northeast Ohio has incubators machine and a microwave oven. ture purchased and moved in to. 888-801-1666 that specialize in software, medical Perhaps more important, most “We can help startups with new products and manufacturing. incubators have skilled staff, consul- and better ways of doing things,” The service most associated with tants or volunteers, often linked to a said CADventure president Ken an incubator is its building space, university and its students, who offer Zebracki. ■

Helping small businesses dream big.

Huntington is proud to announce we have been ranked the seventh largest Small Business Administration Lender in the nation. We’re also the #1 SBA lender in Ohio, Indiana, Michigan and West Virginia. While being recognized for our achievements is always an honor, our real pride lies in knowing we are helping our community by helping its small businesses prosper and grow.

Call 1-800-976-1345, visit huntington.com/sba or stop by to talk to one of our lenders.

Small Business Administration ranking is based on the 2009 Coleman Report 500 for Top 50 7(a) Lenders by Number of Loans and Loan Volume in Ohio and West Virginia and Number of Loans in Indiana and Michigan, for fi scal year end on September 30, 2009. The Huntington National Bank is an Equal Housing Lender and Member FDIC. ®, Huntington® and A bank invested in people.® are federally registered service marks of Huntington Bancshares Incorporated. ©2009 Huntington Bancshares Incorporated. 20091214-NEWS--17-NAT-CCI-CL_-- 12/10/2009 10:59 AM Page 1

DECEMBER 14-20, 2009 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 17 BANKS IN NORTHEAST OHIO

RANKED BY DEPOSITS(1)

Northeast Ohio Name deposits (millions) Employees Address (companywide) Rank Phone/Web site 6-30-2009 6-30-2008 % change Offices 6-30-2009 Holding company Top local executive PNC Bank PNC Financial Services Group 1 1900 E. Ninth St., Cleveland 44114 $23,798.4 $23,788.3 0.0% 165 28,315 Inc. Paul Clark (216) 222-2000/www.nationalcity.com Pittsburgh regional president KeyBank NA 2 127 Public Square, Cleveland 44114 $14,896.6 $13,331.1 11.7% 118 16,664 KeyCorp Henry L. Meyer III (216) 689-3000/www.keybank.com Cleveland chairman, CEO, KeyCorp Huntington National Bank 3 917 Euclid Ave., Cleveland 44115 $7,675.1 $7,583.0 1.2% 134 9,264 Huntington Bancshares Inc. Jerry Kelsheimer (800) 480-2265/www.huntington.com Columbus president, Cleveland region FirstMerit Bank NA 4 106 S. Main St., Akron 44308 $6,757.2 $6,517.9 3.7% 125 2,540 FirstMerit Corp. Paul G. Greig (888) 384-6388/www.firstmerit.com Akron chairman, CEO Charter One Bank NA The Royal Bank of Scotland 5 1215 Superior Ave., Cleveland 44114 $6,561.1 $5,554.8 18.1% 112 16,264 Group PLC Kenneth E. Marblestone (216) 566-5300/www.charteronebank.com Edinburgh, Scotland president, Ohio region JPMorgan Chase & Co. 6 1300 E. Ninth St., Cleveland 44114 $4,653.5 $4,642.4 0.2% 97 166,594 JPMorgan Chase & Co. James M. Malz (877) 226-5663/www.chase.com New York president, Northeast Ohio market Fifth Third Bank Todd F. Clossin 7 600 Superior Ave. E, Cleveland 44114 $4,360.4 $3,730.5 16.9% 86 13,154 Fifth Third Bancorp regional president and CEO, Fifth (216) 274-5300/www.53.com Cincinnati Third Bank, Northeastern Ohio US Bank NA 8 1350 Euclid Ave., Cleveland 44115 $1,970.9 $1,885.9 4.5% 111 52,547 U.S. Bancorp Kurt C. Treu (216) 623-9300/www.usbank.com Minneapolis president, U.S. Bank, Cleveland Lorain National Bank 9 457 Broadway Ave., Lorain 44052 $1,040.8 $861.8 20.8% 21 280 LNB Bancorp Inc. Daniel E. Klimas (440) 244-6000/www.4lnb.com Lorain president, CEO The Farmers National Bank of Canfield 10 20 S. Broad St., Canfield 44406 $593.1 $534.4 11.0% 13 261 Farmers National Banc Corp. Frank L. Paden (330) 533-3341/www.fnbcanfield.com Canfield president, CEO Citizens Banking Co. 11 100 E. Water St., Sandusky 44870 $508.9 $423.5 20.2% 12 287 First Citizens Banc Corp. James O. Miller (419) 625-4121/www.citizensbankco.com Sandusky president, CEO Cortland Savings and Banking Co. 12 194 W. Main St., Cortland 44410 $387.1 $364.3 6.3% 14 160 Cortland Bancorp Lawrence A. Fantauzzi (330) 637-8040/www.cortland-banks.com Cortland president, CEO Citizens Bank 13 One Citizens Banking Center, Flint 48502 $371.9 $338.6 9.8% 14 2,014 Citizens Republic Bancorp Inc. NA (800) 676-6276/www.citizensbanking.com Flint, Mich. Middlefield Banking Co. 14 15985 E. High St., Middlefield 44062 $361.0 $336.0 7.4% 8 89 Middlefield Banc Corp. Thomas G. Caldwell (440) 632-1666/www.middlefieldbank.com Middlefield president, CEO First National Bank 15 112 W. Market St., Orrville 44667 $283.6 $252.7 12.2% 13 106 National Bancshares Corp. David C. Vernon (330) 682-1010/www.fnborrville.com Orrville president, CEO First National Bank of Pennsylvania 16 166 Main St., Greenville 16125 $259.5 $249.1 4.2% 11 2,064 F.N.B. Corp. Stephen J. Gurgovits (800) 494-2265/www.fnb-online.com Hermitage, Pa. president, CEO Andover Bank 17 19 Public Square, Andover 44003 $232.5 $244.9 -5.1% 8 92 Andover Bancorp Inc. Martin R. Cole (440) 293-7605/www.andoverbankohio.com Andover president, CEO Portage Community Bank 18 1311 E. Main St., Ravenna 44266 $182.4 $164.3 11.0% 2 50 Portage Bancshares Inc. Richard J. Coe (330) 296-8090/www.pcbbank.com Ravenna CEO Western Reserve Bank 19 4015 Medina Road, Medina 44258 $173.3 $145.3 19.3% 4 39 Western Reserve Bancorp Inc. Edward J. McKeon (330) 764-3131/www.westernreservebank.com Medina president, CEO Farmers Savings Bank 20 111 W. Main St., Spencer 44275 $169.0 $159.4 6.0% 2 29 NA Thomas Lee (330) 648-2441 president Ohio Legacy Bank NA 21 305 W. Liberty St., Wooster 44691 $157.4 $149.2 5.5% 4 62 Ohio Legacy Corp. Mike Kramer (330) 263-1955/www.ohiolegacybank.com Wooster president, CEO Liberty Bank NA 22 2351 Edison Blvd., Twinsburg 44087 $142.8 $135.6 5.3% 3 49 NA William A. Valerian (330) 425-3033/www.libertybankna.com chairman, president, CEO Independence Bank 23 4401 Rockside Road, Independence 44131 $134.2 $144.8 -7.3% 1 23 Independence Banccorp Christopher Mack (216) 447-1444 Independence president Buckeye Community Bank 24 105 Sheffield Center, Lorain 44055 $128.9 $131.2 -1.8% 1 25 Buckeye Bancshares Inc. Bruce E. Stevens (440) 233-8800/www.buckeyebank.com Lorain president, CEO Consumers National Bank 25 614 E. Lincoln Way, Minerva 44657 $113.3 $106.2 6.7% 5 93 Consumers Bancorp Inc. Ralph J. Lober II (330) 868-7701/www.consumersbank.com Minerva president, CEO Sutton Bank 26 3 S. Main St., Attica 44807 $105.4 $105.9 -0.5% 6 105 Sutton Bancshares Inc. Eric A. Gillett (419) 426-3641/www.suttonbank.com Attica, Ohio vice chairman, CEO Lake National Bank 27 7402 Center St., Mentor 44060 $81.2 $65.1 24.8% 1 17 NA Richard T. Flenner Jr. (440) 205-8100/www.lakenationalbank.com president, CEO Croghan Colonial Bank 28 323 Croghan St., Fremont 43420 $78.3 $81.8 -4.2% 3 150 Croghan Bancshares Inc. Steven C. Futrell (419) 332-7301/www.croghan.com Fremont, Ohio president, CEO Apple Creek Banking Co. 29 21 E. Main St., Apple Creek 44606 $73.9 $73.4 0.8% 6 41 Apple Creek Banc Corp. Kurt Kline (330) 698-5003/www.applecreekbank.com Apple Creek CEO Source: Federal Deposit Insurance Corp., www.fdic.gov, Summary of Deposits reports. Crain's Cleveland Business does not independently verify the information and there is no RESEARCHED BY Deborah W. Hillyer guarantee these listings are complete or accurate. We welcome all responses to our lists and will include omitted information or clarifications in coming issues. Individual lists and The Book of Lists are available to purchase at www.crainscleveland.com. (1) Banks with deposits in Ashland, Ashtabula, Cuyahoga, Erie, Geauga, Huron, Lake, Lorain, Mahoning, Medina, Portage, Stark, Summit, Trumbull and Wayne counties are included in this list. Only deposits from those counties are used for the NE Ohio deposit numbers. 20091214-NEWS--18-NAT-CCI-CL_-- 12/11/2009 2:02 PM Page 1

18 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 14-20, 2009 Genes: Combining testing, clinical application taking hold

continued from PAGE 3 Dr. Eng said those numbers still UCLA in Los Angeles. chairman of medicine in Singapore around becoming a doctor who throughout the system on when are not enough. About 10% of the Many companies do genetic testing, and the physician for the prime would study how to use genetics to genetic testing might be warranted population is genetically susceptible but they often don’t translate the minister. She said she knew by the treat various types of cancer. and under what circumstances it will to diseases, she said. results and help patients under- time she was 4 years old that she Her work has led her to examine be covered by insurers. People seem to be more aware of stand their implications, so Dr. Eng wanted to follow in his footsteps. the elephant man’s DNA and, as a If used appropriately, Dr. Eng said, genetic testing, but Dr. Eng said she is on the forefront of that movement, In fourth grade, she realized she wine connoisseur, Dr. Eng would genetic testing could reduce health would like to see more families Dr. McCabe said. His hospital has a wanted to be a physician-scientist like to figure out how to use wine in care spending by cutting down on tested genetically so that doctors similar project that involves genetic after studying people such as Louis medical treatments. With more the number of tests ordered by can map out what genetic abnor- testing of children, he said. Pasteur, the French chemist who than 100 varieties of grapes, the doctors who are trying to diagnose a malities exist within the family to “Essential programs like Charis’ discovered diseases could be avoided genome of the grape is diverse, but patient. Genetic testing shows what provide a more complete health and ours are taking off because, if through vaccination and that it has been shown to have positive diseases a person is predisposed care picture. we’re going to prepare for the time micro-organisms could be killed by health effects, she said. toward, so much of the guesswork is Marrying genetic testing and when we can sequence the genome heating a liquid to about 130 “We would like to seek funding eliminated when they begin showing clinical analysis is just beginning to for under $1,000, we need to know degrees Fahrenheit, a practice now to examine whether profiling wine symptoms of an illness, she said. take hold in the United States, said how to use these tests,” he said. called pasteurization. grape varietals and profiling us can Though the Genomic Medicine Dr. Edward McCabe, president of the Dr. Eng finished high school somehow lead to personalized Institute has increased the number American Society of Human Genetics A nose for science early and was admitted to the Uni- matching of a particular wine to a of patients it sees each year and will in Bethesda, Md., and physician-in- Dr. Eng grew up in Singapore versity of Chicago at 16, which is particular person to enhance dis- see about 3,000 patients in 2009, chief at Mattel Children’s Hospital admiring her uncle, who was the when she planned her education ease prevention,” Dr. Eng said. ■

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DECEMBER 14-20, 2009 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 19 THEINSIDER REPORTERS’ NOTEBOOK THEWEEK BEHIND THE NEWS WITH CRAIN’S WRITERS Are you the proactive type? a stupid person, yet the Browns are going out give the restaurant a “different ambiance” DECEMBER 7 – 13 of their way to make me feel like one.” for breakfast, lunch or dinner events. Owners The Browns have a job for you Browns spokesman Bill Bonsiewicz said of the Statler recently refurbished the space, The big story: Cliffs Natural Resources Inc. ■ Here’s some good news, Browns fans: The in an e-mail that the new position was not which tenants of the apartment building is trying to land a knockout blow in the bidding team apparently has heard your complaints in response to the opinions expressed in the also can book for their events. — Stan Bullard war for Montreal-based Freewest Resources and is attempting to do something about it story, but “is part of a variety of things we Canada Inc. The Cleveland-based producer of — at least in the customer service department. have been discussing and planned for the Merry e-greetings iron ore and coal once again amended The team is advertising for a “ticket 2010 offseason.” — Joel Hammond to you and yours its definitive takeover agreement services representative” — the job listing with Freewest and has raised can be viewed at http://tinyurl.com/yegc9dy Morton’s stakes claim ■ Liggett Stashower has given something the price it would pay for — who is “responsible for developing and to former Swingos space for its clients to open each day during the Freewest stock to $1 a share maintaining strong relationships with holiday season. Canadian in Cliffs stock for Cleveland Browns Season Ticket Holders by ■ With freshly polished wood paneling and In lieu of sending out printed holiday each Freewest share outstanding. providing proactive and superior customer chandeliers dating from 1912 gleaming over cards to clients, the Cleveland branding firm The latest Cliffs offer tops an service in order to build new carpeting, the lights began on Nov. 30 sending out a daily increased bid for Freewest from customer loyalty and are back on at another holiday e-card, called “The 20 Workdays of Noront Resources Ltd. of Toronto. satisfaction with the goal part of downtown Cleve- Wonderful Gifts,” to provide clients with And, to assure Freewest’s shareholders of of maximizing client land’s storied past — the virtual gifts that include anything from its desire for their company, Cliffs will make a retention and revenue former Swingos and Marie holiday cookie recipes to a video on employees’ cash tender offer of $1 a share Canadian for all of opportunities.” Shriver’s restaurants at the suggested holiday season workouts. Freewest’s stock should Noront become the A source said the team Statler Arms Apartments, Although Liggett had sent out e-cards in owner of more than 12.5% of Freewest’s shares. began advertising the 1147 Euclid Ave. the past, this is the first year they were deliv- position prior to the Morton’s The Steak- ered through a social media campaign, said In with the old?: The CEO of the new owner Browns’ Dec. 6 loss to house is beginning to Mark Nylander, CEO. of AmTrust Bank said he is “seriously thinking San Diego at Cleveland offer catering for corpo- “There are a number of ways we are about” renaming the institution Ohio Savings Browns Stadium. The Morton’s The Steakhouse is offering rate or social events there sharing the e-cards with clients, including Bank in this area. Joseph Ficalora, president, advertisement comes catering at the former Swingos and to supplement operations on our web site, e-mail and social networks” chairman and CEO of New York Community about three weeks Marie Shriver’s restaurants. of its Tower City Center such as Facebook and Twitter, he said. Bancorp, said he understands that after 118 after a Crain’s Cleveland location. Kristen Adams, Liggett in the past had sent out traditional, years, Ohio Savings is a “well-regarded name.” Business story highlighted many season Morton’s Cleveland sales and marketing man- tangible gifts to clients, but the e-card is a The bank changed its name to AmTrust in April ticket holders’ frustration, not only with the ager, said the Chicago-based restaurant chain more modern, sustainable substitute, said 2007 to make its area operations uniform with its on-field product but also with what they sees the space as an opportunity to compete Leslie Resnik, brand director. branches in Arizona and Florida. perceived as inattention to their needs and a for larger downtown events. Statler can The firm also is making donations in the feeling of being exploited. accommodate 250 for receptions and 180 for name of its clients to Coats for Kids, The Baby steps: While noting challenges aplenty “I could always justify laying the money sit-down events, compared to a maximum Cleveland Foodbank and Greater Cleveland face real estate companies, Charles Ratner, (for season tickets) out somehow,” seven- of 150 at Morton’s Tower City location. Habitat for Humanity. president and CEO of Forest City Enterprises year season ticket holder Brian McPeek told Moreover, Ms. Adams said, the Statler’s The cards will be produced daily, during Inc., said in a conference call with analysts that Crain’s for that story. “I don’t consider myself high ceilings and arched leaded-glass windows weekdays, until Dec. 25. — Kathy Ames Carr “the most difficult stretch may be behind us” in adapting to the recession and real estate credit crunch. Mr. Ratner said at this time a year ago, he would not have “ventured to guess” the MILESTONE BEST OF THE BLOGS company could achieve some of the financial concepts and safer and more secure means measures it reached this year, as it raised $330 Excerpts from blog entries of making money, from fixed-rate annuities million in new equity and won a new bank line on CrainsCleveland.com. to dividend-paying stocks (utilities, anyone?) of credit. At that time, he recalled, it seemed like to, yes, even bank deposits.” “the market was falling away.” Looking at today, He went the extra mile to Mr. Nakhooda, though, sensibly said that he said, “We have come a long way.” shed the Beltway’s ways even playing it safe isn’t always safe, given ■ Remember Neel Kashkari, the Northeast threats to investments such as a weakening Team player: As part of the effort to bring Ohio native (he went to high school at dollar and the potential for runaway infla- greater stability to what has been a chaotic front Western Reserve Academy in Cleveland) who tion. He added that while investors might office, the Cleveland Browns named Frederick wound up being Henry Paulson’s point man think there is more safety in foreign oppor- R. Nance, regional managing partner for Squire, for last year’s $700 billion bank bailout? tunities, that isn’t necessarily the case if Sanders & Dempsey L.L.P., as general counsel. His life has changed quite a bit, according they are buying those overseas investments The addition of Mr. Nance “strengthens our ability Cushman Kirsch to a riveting Dec. 7 feature in The Washington with American dollars — as the investments to manage any number of matters,” said Browns Post. Mr. Kashkari and his wife moved to a go up, the currency could go down. owner Randy Lerner. Mr. Nance will remain as cabin in northern California “Every money manager has a partner at Squire Sanders, where he has prac- COMPANY: Ferro Corp., Cleveland and are putting their D.C. life to ask additional questions we ticed for more than 30 years and spearheads the th THE OCCASION: Its 90 anniversary behind them. He said he came never thought to ask before,” firm’s sports and entertainment practice. up with a “Washington detox” Mr. Nakhooda told The Journal. Investors today know Ferro as a perfor- program that includes building TB or not TB: Case Western Reserve Univer- mance materials company with more than $2 a shed, chopping wood and sity received a $19.7 million federal contract to billion in sales last year and 5,400 employees losing 20 pounds. (He still can’t A little bit of this, become an international clinical trials site for in 23 countries. What they might not know is kick a Blackberry habit, though; the Tuberculosis Trials Consortium. Under the a little bit of that that it was started in 1919 by Harry D. those things must be really pow- 10-year contract with the U.S. Centers for ■ Cushman as the Ferro Enameling Co. with an erful.) File a Dec. 6 New York Times Disease Control and Prevention, CWRU will investment of … $1,000. (No, we’re not Of his life as Grizzly Adams, travel section story in the oversee clinical trial sites in Uganda and the missing any zeros.) Mr. Kashkari told The Post, “I “small world” department. The Philippines. Dr. John Johnson, a professor of At the company’s founding, workers in the had to do something with my piece on Singapore highlighted international health at CWRU, will lead research th Ferro plant on East 56 Street made frit, a hands. It’s a big amorphous the hopping Kampong Glam into new drugs to treat tuberculosis patients. complex glass that’s the core ingredient of unknown — what’s going to retail district. One trendy shop, enamel. Ferro has gone well beyond frit over PHOTO COURTESY OF THE called Know It Nothing, “fea- This and that: Business development orga- happen to our economy. And nearly a century, and its materials now are the shed is solid, measurable. I CLEVELAND CAVALIERS tures nerd-chic button-down nization JumpStart Inc. made a $250,000 invest- Michael Symon is one of used in end products including automobiles, can see it, I can touch it. It’s shirts,” imported all the way ment in Electron Database Co. of Richfield, many top chefs scaling pharmaceuticals and solar cells. going to be around for the next from the Cleveland-based which is developing database software. The back. Fun fact: In 1923, Ferro began publishing 30 years. It’s the opposite of independent label Wrath Arcane. company will use that money to continue devel- The Enamelist, the first trade journal in the amorphous.” ■ Celebrity chef Michael Symon is a leader oping its patented software and to establish porcelain enameling industry. of one of 10 menu trends for 2010, according strategic partnerships. … Of the 89 organizations Fun fact No. 2: Ferro in 1938 created the to Restaurant & Institutions magazine: Big- responding to a survey by human resources group world’s largest porcelain enamel-on-steel Investors embrace safe name chefs taking it down a notch. “The dri- ERC in Mayfield Village, 73% still are mural for the World’s Fair in New York. options, if such a thing exists ve toward downscale dining continues: Wit- planning to have holiday parties this year, down The current CEO is James F. Kirsch. For ■ Boring is good in the world of wealth ness Big Star, Chicago chef Paul Kahan’s from 92% last year. information, visit www.ferro.com. management these days. just-opened dive bar/taco shack; Il Cane In a Dec. 3 piece that quoted Azim Rosso, the San Francisco sandwich shop Crain’s next regular print issue will be Jan. 4, Send information about corporate anniver- Nakhooda, chief investment officer with from Coi Chef-owner Daniel Patterson; and following the Dec. 28 Book of Lists. Visit saries to managing editor Scott Suttell at Cedar Brook Financial Group in Cleveland, Bar Symon, Michael Symon’s gastropub- www.CrainsCleveland.com throughout [email protected]. December for business news as it happens. The Wall Street Journal said financial pros style spot (in Avon Lake),” according to the “find themselves promoting back-to-basic trade publication. 20091214-NEWS--20-NAT-CCI-CL_-- 12/11/2009 3:34 PM Page 1

20 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 14-20, 2009 Ganley Nissan reaches new Heights

with a building of unknown size, sits It becomes the third auto dealership Dealership moves to on nearly an acre on the busy Mayfield emptied in the suburb in the last Road retail corridor. dozen years as automakers push Mayfield from Shaker The Mayfield Heights location dealers to move to locations with previously was Spitzer Dodge Motor greater freeway visibility or accessi- By STAN BULLARD Center East. It was one of the locations bility than older locations enjoy. [email protected] left without a franchise in Chrysler “The city’s favored outcome on all Corp.’s elimination of franchises as property that’s available is for lots of Ganley Nissan, part of the Lake- part of its Chapter 11 bankruptcy reor- employment and payroll,” Mr. wood-based Ganley Auto Group, has ganization earlier this year. Campbell said. “We live off of payroll moved to 6060 Mayfield Road in Patrick Campbell, Shaker Heights taxes.” ■ Mayfield Heights from its longtime economic development director, said the city considers the former dealership on Chagrin Boulevard in GET DAILY CRAIN’S NEWS! Shaker Heights. Ganley Nissan location at 16005 Cuyahoga County land records Chagrin Blvd. as a potential site for Go to CrainsCleveland.com show 6060 Mayfield Road Ltd. redevelopment. /register to receive: The Morning acquired the Mayfield Heights property The property is zoned commer- Roundup, breaking news alerts, on Nov. 23 for $2.2 million from cial, which allows multiple uses daily headlines and eCleveland! Dorsan Realty Corp. The dealership, beyond remaining a car dealership.

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