20150907-NEWS--0001-NAT-CCI-CD_-- 9/4/2015 5:56 PM Page 1 Readers first for 30 Years Power plant Affiliation owners: with OU Don’t let helps Judson CRAIN’S utilities Center water down offer new DETROIT BUSINESS payments, services, PAGE 3 PAGE 3 SEPTEMBER 7-13, 2015 As GM goes,so grows Warren Tech center expansion spurs development By Kirk Pinho the tech center on Van Dyke Av- [email protected] enue north of 12 Mile Road. When one of the largest compa- This Wednesday, President nies in the world decides to invest Obama is schedule to speak in $1 billion in your city, there are Warren, nearby at Macomb Commu- bound to be a few ripple effects. nity College, on the importance of Some of those ripple effects: investing in skills and growing the More than 200 high-end loft apart- economy. Warren’s economy, ments around City Hall, a new meanwhile, is receiving an eco- Prestige Cadillac dealership and nomic infusion from GM invest- possibly a new five-star hotel ment effect. across the street from General Mo- Retail prospects PHOTO: ©2015 GOOGLE tors Co.’s Warren Technical Center — This aerial view of Warren’s city office complex (right center) is anchored by parks, all evidence that the automaker’s Add to the mix for Warren a pos- courts and other buildings.The inset map (right) shows the sites for planned loft de- planned spending barrage at the sible specialty grocery store like velopment to the east and south of the main city complex, and is among several new tech center is a catalyst to a range Whole Foods Inc. or Trader Joe’s in of investment in Warren’s city the hotel’s retail space, and you Michigan’s third-largest city also story former Campbell Ewald build- square area. have the makings of what Mayor includes a Menards home improve- ing. The CE building reinvestment City officials estimate about Jim Fouts called a community that ment store, expected to open Sept. will bring another 800 white-collar $300 million in new development is “a pretty hot commodity right 21 following an $8 million con- jobs to the Macomb County city of is planned in the Downtown De- now” for new development and re- struction project at 14 Mile Road 135,000 residents. velopment Authority district development. and Van Dyke; and another $35 alone, which is anchored around The development pipeline for million spent by GM on the 10- SEE WARREN, PAGE 21 Sastry’s Sakti3 energizes investors with battery tech By Tom Henderson In August, Sastry, whose Ann would-be investors. [email protected] Arbor-based Sakti3 Inc. was spun off Dyson got interested last year James Dyson invented a better from UM in 2008, got further valida- after articles in Fortune and Scientif- vacuum, and it made him rich. tion she may be on the way to revo- ic American about leaps in energy In March, he decided that Ann lutionizing the way batteries are density Sakti3 had made with its Marie Sastry, a former professor at made. She was one of just 30 early- batteries. The Fortune article was the University of Michigan, is building stage tech entrepreneurs from headlined: “Will this battery change a better rechargeable lithium-ion around the country invited to the everything?” battery and invested $15 million in first White House Demo Day in “Dyson is a scientist, and he her company in the hopes of mak- Washington to show off her tech- reached out to us,” said Sastry. “He’s ing her rich, too. nology to reporters and other been very good at taking new tech- nologies and integrating them into products, and they have a very strong need for better batteries.” Women in Tech Dyson’s investment, from a $2.3 As connections build, so does Page billion fund he created last year to invest in emerging technologies, support for growth and money 11 was part of a $20 million funding round that was joined by a heavy- weight roster of former investors © Entire contents copyright 2015 who wanted to increase their in- by Crain Communications Inc. All rights reserved. vestment in Sakti3 — Detroit-based crainsdetroit.com Vol. 31 No 36 $2 a copy. $59 a year. General Motors Ventures, the iconic Silicon Valley VC firm of Khosla Ven- tures, Tokyo-based Itochu Technolo- gy Ventures Inc. and Farmington Hills-based Beringea LLC. For Dyson, his investment wasn’t one of those high-risk, high-reward NEWSPAPER SEE SASTRY, PAGE 20 Ann Marie Sastry PHOTO: SAKTI3 20150907-NEWS--0002-NAT-CCI-CD_-- 9/4/2015 3:24 PM Page 1 2 CRAIN’S DETROIT BUSINESS // SEPTEMBER 7, 2015 ing more than three years as head of This year, more than 45,000 people MICHIGAN the second-largest health plan in attended LaughFest’s 270 ticketed INSIDE Michigan and two decades with and free events at 49 venues in Grand THIS ISSUE parent corporation Spectrum Health, Rapids, Lowell and Holland. BANKRUPTCIES . 7 CAPITOL BRIEFINGS . 7 MiBiz reported. Freed announced Ⅲ Bishop International Airport in CLASSIFIED ADS . 17 his intention now to give Grand Flint is getting nearly $4.4 million to MARY KRAMER . 8 Rapids-based Priority Health time help rehabilitate its runway, replace OPINION . 8 BRIEFS to plan a smooth transition. runway lighting and remove trees OTHER VOICES . 8 Ⅲ About $82 million in damage that could obstruct several runways, PEOPLE . 18 Perrigo does a deal while Gov. Rick Snyder also announced resulting from the Aug. 2 storms in The Associated Press reported. RUMBLINGS . 22 in crosshairs of takeover the creation of a 15-member pipeline northwestern lower Michigan has Ⅲ Grand Rapids Community College WEEK ON THE WEB . 22 safety advisory board in the Michigan been reported so far in nine coun- and Western Michigan University plan Perrigo Co. plc acquired the Scar- Department of Environmental Quality. ties, the Traverse City Record-Eagle to create a seamless path for GRCC Away brand from Enalus LLC, which reported. Matt Ansorge, Leelanau students to transfer into Western’s COMPANY INDEX: makes over-the-counter skin care Flint: Judge’s water bill ruling County’s director of emergency programs, MiBiz reported. GRCC SEE PAGE 21 products including treatments for has cost city $500,000 management, said public roads has similar agreements in place scars, MiBiz reported. The acquisi- should be clear in the next week or with Ferris State University and Grand tion will generate about $10 million Flint officials said the number of two. Grand Traverse County emer- Valley State University. in annual sales for Perrigo, includ- residents paying their water bills gency management director Gregg Ⅲ Midland-based Dow Chemical ing $3 million in the current year. has dropped significantly since an Bird said county roads were clear Co. is bringing an updated version Ellen Satterlee will retire Oct. 30, Perrigo, which is headquartered Aug. 17 order by Judge Archie Hay- within five days of the storms, but of its solar-energy shingles to select MiBiz reported. A statement did not in Allegan but is domiciled in man of Genesee County Circuit Court cleanup work remains on private U.S. markets early next year, mention who would replace her. Dublin, Ireland, announced the deal barring the city from shutting off property. MLive.com reported. Powerhouse Ⅲ Grove restaurant in Grand days after shareholders of Mylan N.V. services because of unpaid bills, Ⅲ Chad James Perleberg pleaded Solar System 2.0 shingles have a Rapids was ranked among the “100 voted to proceed with a $332.7 bil- The Flint Journal reported. Flint guilty to embezzling more than photovoltaic system that helps Best Restaurants for Foodies in lion hostile takeover effort for Perri- CFO Jody Lundquist said revenue is $325,000 from Wyoming-based power the home without using America,” based on more than 5 go. The tender offer directly to Perri- down $500,000. Grand Rapids Foam Technologies rack-mounted solar systems. A per- million reviews submitted to go shareholders should come this Hayman says illegal rates con- while he was CFO, The Grand home price has not been finalized. OpenTable, the Grand Rapids Busi- fall. Mylan is run from Pittsburgh but tributed to the unpaid bills. The city Rapids Press reported. He faces no Ⅲ Grand Rapids-based Varsity ness Journal reported. The only domiciled in the Netherlands. is appealing but is also adopting more than five years in prison. Po- News Network Inc., which provides other Michigan restaurant in the new rates to comply with the judge’s lice say Perleberg used company schools a Web-based platform to ranking is Republic in Detroit. Accord means no heavy oil order. A typical monthly bill will be checks to pay for personal credit distribute content on sports pro- Ⅲ Port Huron Northern High School will flow under the Straits reduced by $18. In response to the cards, issued checks to himself, al- grams, closed on $3.7 million in ad- has attracted $75,000 in corporate lost revenue, city administrator tered petty cash receipts and used a ditional financing that will support sponsorships to help pay for a new Calgary, Alberta-based Enbridge Natasha Henderson said, Flint has company credit card for his own ex- national growth and development gym floor that’s expected to cost Energy says it won’t ship heavy crude put a freeze on hiring and halted penses. of a mobile app, MiBiz reported. $120,000, the Times Herald reported. oil through pipes that run beneath projects worth $7 million. Ⅲ Organizers of Gilda’s LaughFest The funding came from investors For their money, sponsors get to put the Straits of Mackinac, under a said the annual comedy festival in led by Arsenal Venture Partners, a na- their ads on the floor itself.