20090615-NEWS--11-NAT-CCI-CL_-- 6/11/2009 4:04 PM Page 1

JUNE 15-21, 2009 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 11 Indians: Team sees affiliates as positive to fan base

continued from PAGE 1 Crushers), you’re looking at our future manager. “We’re placing a huge The decline contrasts sharply with a stars, and that’s helpful to us.” emphasis on the value we’ve always solid attendance increase at the new While the Indians have slashed offered.” Huntington Park in Columbus, home some prices and continually develop Said Crushers general manager to the Clippers, now the Indians’ Class promotions, their counterparts always Ryan Gates: “We said on our speaking AAA affiliate. The Clippers lead the can go lower: A June weeknight ticket tours that we’re not looking to steal International League in attendance, at at Progressive Field averages $32.81; at Indians fans; we don’t expect anyone 8,981 per game for 24 home dates, up Huntington Park, it’s $9.33, and at to not be Indians fans. We can carve 13.2% from an average of 7,795 in 69 Classic Park in Eastlake, it’s $9. out a niche and offer a value, because home dates in 2008. The Captains have all-you-can-eat that’s what people are looking for.” The Lake County Captains, too, nights for $15, while Indians’ seats are But the shift still may be happening, are seeing an increase, of 4.9%, to $32; the Crushers’ family four pack is said Avon Mayor Jim Smith. 3,125 per date through 27 games this $44 and the Aeros is $48, while the “People that love major league season compared with 2,973 through Indians’ offerings start at $51 and go baseball still love major league base- the same number last year. The up, based on seat selection. ball, and I don’t think they’ll stop Crushers, in their first season at All “Like any business, we’re trying to going (to Progressive Field),” he said. Pro Freight Stadium, are averaging hold our line on what you charge your “But in these economic times, it’s dif- 2,896 fans through their first six games, customers, and we’re pleased with the ficult to take two or three kids to an In- and the Akron Aeros are averaging attendance,” said Brad Seymour, the dians game. … This gives people the 4,394 fans through 28 games at Canal Captains’ vice president and general ability to go to more games.” ■ Park, though that number is down about 7% from last season. So, is the major-league experience diminishing in value? Are cost- conscious fans more willing to stay closer to home? Or will the fans come back with a hoped-for summer rise in the standings? “There’s never been evidence of minor-league teams affecting major- league teams,” said Mark Rosentraub, a former Cleveland State University professor and the new endowed chair of sports business at the University of Michigan. “If people want major league baseball, they’ll go see it. The economy is certainly a crushing, more harmful blow.” Mr. Rosentraub cites as examples Detroit and Phoenix, cities where the economic downturn has had a larger HE BEST INVESTMENTS impact: The Tigers, despite being in T first place, are down 26% through 28 games, to 28,418 from 38,504, while the Arizona Diamondbacks are down 7.2%, to 26,742 from 28,801. OFTEN HAVE NOTHING But Allan Sanderson, an economics lecturer and sports business expert from the University of Chicago, said the economy may not be the only TO DO WITH MONEY. factor in the case of Northeast Ohio and the Indians. “My sense is that fans and families are trading down in general, (such tock indeexes and asset allloco ations are one thing. But inn the end, what really matters as) Walmart and Target instead of more upscale department stores,” are the innvestments we make in the lives of those arroound us. At the Prrivate Client Mr. Sanderson said in an e-mail. “But it’s also true that anytime there Group, we help you manage, grow and preserve youur wealth, so you cann provide for is an attractive, less expensive option, customers — or in this case, those you care about most. We offer straategies and solutions for persoonnal trusts, estate fans — will also gravitate to those.” administration andd charitable giving to ensure you leave your legacy and reach your Speaking of prices … The Indians greatly ratcheted up personal goals – onees that enrich and enhance your life and the lives of those around you. their promotion efforts in anticipa- tion of a tough summer because of the lousy economy: They introduced Now that we’re part of PNC, you can rely on our reputation as one of America’s best- all-you-can-eat seats and kept their * existing dollar-dog nights, family performing large banks. With an A rating from Standard and Poor’s and approximately nights and other promotions, such ** as Big Mac Mondays, when fans with $96 billion in assets under management, let our strength and stability be the basis for yours. a Big Mac lid can get a ticket free when they buy a ticket. Trust is something we earn. The team also unveiled its value pricing model, which drastically To experience the Private Client Group in Cleveland, reduced ticket prices for less desirable games. For example: a field box call Barry Robinson, Market Executive, at 216.222.7272. ticket was $25 on weeknights in April and May, but will be $60 for this week’s series against the Milwaukee Brewers. Dennis Lehman, the Indians’ exec- WEALTH PLANNING | Investments | Private Banking | Trust & Estate Services utive vice president of business oper- NATIONALCITY.COM/PRIVATECLIENTGROUP ations, said the team’s poor start has hurt and that fans are far less commit- ted — and thus more influenced by The PNC Financial Services Group, Inc. (“PNC”) provides investment and wealth management, fi duciary services, FDIC-insured banking poor weather at 5 p.m. on game day, products and services and lending and borrowing of funds through its subsidiaries, PNC Bank, National Association, PNC Bank, Delaware for instance — than in the past. But and National City Bank, which are Members FDIC. PNC does not provide legal, tax or accounting advice. he said the team views the region’s minor-league teams, especially the Investment products are: Indians’ affiliates, as positives. “We were concerned about it initially, but not anymore,” Mr. Lehman said. *As of January 19, 2009. **As of March 31, 2009. “If you are an entertainment seeker, minor-league baseball is a great, ©2009 The PNC Financial Services Group, Inc. All rights reserved. value-driven activity. Except for (the

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12 CRAIN’S CLEVELAND BUSINESS JUNE 15-21, 2009 EVENT PLANNING Med mart plan lacks lodging element Some think adjoining hotel should be part of agenda

By STAN BULLARD [email protected]

big piece is missing from the plan to make a success of the new convention center and medical mart in downtownA Cleveland, according to some experts: an attached conven- tion center hotel of as many as 800 rooms with a development cost of about $160 million. However, Cuyahoga County officials are leaving that project to a JASON MILLER The Cleveland Zoological Society held its ZippityZooDoo fundraiser June 5 at the Cleveland Metroparks Zoo. The nonprofit, like many of its counterparts, private developer, if not for now, for scaled back some event costs to maximize its profit margin. after the $425 million mart and convention center opens in 2012 and establishes itself in the meeting marketplace. It’s an approach that suits most local hoteliers because of the dire effect the recession has had on the hotel market. PLANNING AHEAD But the failure to put a big new convention center hotel on the Nonprofits compensate for economic challenges by minimizing agenda puzzles David Sangree, president of Lakewood-based Hotel event costs, developing creative fundraising strategies & Leisure Advisors LLC.

By SHANNON MORTLAND nonprofit was trying to keep costs “We absolutely, positively, [email protected] for ZippityZooDoo on June 5 down should have a hotel that is connected to the center.” from previous years by enacting he Cleveland Zoological – Bruce Harris Society expected to raise a such measures as buying less costly retired president, Conferon Global little less money at one of gifts for attendees and not renting Services, now Experient Inc. its major fundraising extra portable toilets, she said. Tevents this year, but the nonprofit In the end, the society raised “With all this talk about the $218,000 from the event this year, convention center and the medical group didn’t allow its feathers to get mart, there’s been almost none ruffled. down 15% from the $255,000 raised about the convention center hotel and where people will stay,” Mr. It instead decreased its costs to last year, she said. Despite the decrease in donations, the society Sangree said. “A connected conven- host the event in an effort to widen tion center hotel should go in at the its profit margin, said Tara Turner, held costs for the event to 50 cents same time. The conventions will per dollar raised. want the medical mart and conven- director of external relations for the tion center connected to a hotel. Cleveland Zoological Society. The See COSTS Page 17 Some people will walk. Some meeting planners will not consider you if you do not have a connected hotel.” Mr. Sangree said if the medical mart is as nice as advertised, the INSIDE operators quickly will find that the city does not have enough rooms to satisfy the bigger groups it yearns to ■ LURING THEM IN: The economy has negatively ■ EXPECTING THE UNEXPECTED: From attract. impacted hotel occupancy rates, so operators are traffic concerns to squabbles with vendors, The problem convention center offering more discounts to attract compa- preparing for large-scale, open-to-the-public marketers face is that downtown nies to their meeting and conference events can pose a challenge for planners. Cleveland has 4,200 rooms but they centers. Incentives range from reduced The economy has helped to foster some of are spread throughout the central meeting room rates to reductions in those uncertain event expectations. Local business district. The Renaissance menu prices. Most hotels are focusing job fairs have lured so many people, some Cleveland Hotel has 491 rooms, on booking events that will take place event coordinators had to turn away job which some experts argue is too before the end of 2009. Page 14 seekers. Page 16 See HOTEL Page 15 20090615-NEWS--13-NAT-CCI-CL_-- 6/11/2009 2:12 PM Page 1

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14 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM JUNE 15-21, 2009 EVENT PLANNING Hotels tout inviting discounts to meeting planners HERE’S THE DEAL usually for rooms booked this year Operators, looking to offset lower occupancy, or next. They want your business in There are a number of revenue applied to the group the next 12 months.” offer deals to bolster conference bookings incentives available at local master account In most cases, that means the hotels and major chains, ■ One complimentary room deals are focused on groups that By JAY MILLER islands this year. Then it and its generally for meetings or for every 30 to 50 booked will contract and meet before the [email protected] competitors start getting serious conferences booked in (depending on the hotel) end of 2009. At the Hyatt Regency Cleveland about the inducements. 2009 for 2009 or, in some ■ Complimentary staff downtown, business groups can get ike many of the Aloha Groups get complimentary cases 2010. meals for the group meeting State’s starving hotel rooms, free VIP suites, discounts a 6% rebate and the meeting planner For example, discounts staff operators, Marriott Resorts on meal services, free snacks at ■ can get personal reward points for of 15% to 25% are Complimentary break Hawaii starts by offering breaks and on and on. If business choosing the Hyatt. available on: beverages Lbusiness meeting planners a 10% doesn’t pick up soon, maybe At Quail Hollow Resort in ■ Banquet menu pricing ■ Higher allowable attrition* rebate for booking a retreat on the they’ll start throwing in an Aloha Painesville, meeting planners ■ Golf greens fees can select from a smorgasbord of *Groups pay an attrition ■ Meeting room rentals discounts — 15% off banquet penalty when the number of pricing, 10% on rounds of golf, 10% In addition, other offers rooms actually booked for a discount on spa services, 15% off include: conference are below a pre- the cost of audio-visual services, a ■ Credit of 2% to 6% set percentage of the block one-hour cocktail reception or a 6% of group’s guest room of rooms held for the group. rebate. Hotel occupancy and revenue started slipping last year and then shirt with birds of paradise on it. took a terrible tumble in the first The Hawaiian hotel room crisis “Companies and hotels are quarter of 2009 — occupancy is is partly caused by what’s been looking at ways to maintain down 10.9% against the first quarter dubbed the AIG effect — businesses of 2008 and revenue per room, the don’t want to be judged as spend- the greatest degree of flexibility in pricing.” usual industry yardstick, is off 7.7% thrift, even if they’re not getting for the period, according to STR bailout money. – Tom Griffiths Group, a London and Henderson- But since the tight economy is vice president, The Americas ville, Tenn., hotel data provider. hurting hotel occupancy every- World Hotels AG STR Group expects full-year 2009 where, hotels closer to home are occupancy to be off 6.5%, and offering the same kind of carrots to revenue to be off 9.8% compared lure in meetings and events. hotels are losing leisure travelers. with 2008. “Hotels are really taking it in the So they are trying to keep their Since the chains are loath to shorts right now,” said David Lutz rooms filled by increasing their simply lower rates, which take time of Velvet Chainsaw Consulting in meeting and conference business, to rebuild, they are offering an array Aurora, a meeting planning consul- even if it means heavy, short-term of incentives to meeting planners. tant. “What’s happening is that discounting. “Companies and hotels are looking (travelers) who used to stay at the “What we’re seeing is unprece- at ways to maintain the greatest Ritz are now staying at the dented times,” said Tony Prusak, degree of flexibility in pricing,” Tom Courtyard (by) Marriott. They’re sales account manager at Marriott Griffiths, vice president of The Ameri- trading down.” Cleveland East in Warrensville cas for World Hotels AG, a worldwide That means the higher-end Heights. “Meetings have become a group of affiliated hotels based in bad word, and the negativity has Frankfurt, Germany, said in a recent impacted the hotels. online chat about hotel negotiations. “There are still meetings going “The old days of seasons are long on, but the large-scale (meetings) gone. Every month will be a new with lunch and dinner are fewer season.” now,” Mr. Prusak said. Risky business A little motivation In addition to the heavy Maybe Northeast Ohio’s hoteliers discounting and free services, soon will be offering bowling shirts. hotels are taking on more of the risk Actually, lodging operators here are companies had assumed when they more likely thinking about offering put on meetings. the shirts off their backs to planners The hotels are eliminating or Treat your employees to a high-fl yin’ day of fun with Cedar Point’s looking for a place to hold a meeting reducing what the industry calls or conference. attrition penalties, the fees groups more than 150 rides, shows and attractions. Whatever program “We took 25% off room rates, pay when the planners inaccurately you choose, our special group rates will thrill you. menu prices and meeting room gauge meeting attendance and rentals,” Mr. Prusak said. their group fails to book a pre-set Plan a no-hassle Group Event where we’ll do all the Mr. Prusak said the competitive- percentage of the block of rooms work for you. You can even toss in a company picnic! ness also means that meeting committed to the group. Those planners don’t think they should penalties can run into the thousands There’s also the Good Any Day Program where put up with hard bargaining. of dollars for the largest groups. employees can purchase a discounted park ticket to “In this market, you have one How long the slump — and the use any day all season long. Set this up online for shot, maybe two, so you have to accompanying discounts — will last free, and make things even easier. come in with your best offer,” he is anyone’s guess. said. But Mr. Prusak doesn’t expect As a result, “there’s huge incen- the freebies to last forever. No matter what you’re looking for, we can design the tives,” said Mr. Lutz. “At Hyatt, you “Meetings will come back again,” perfect package so you and your employees enjoy can pick from a menu of incentives he said hopefully. ■ one fantastic day of Cedar Point fun.

Go to cpgroupfun.com or call 1- 800 - 448 -2428 for more details.

TM

Sandusky, Ohio 20090615-NEWS--15-NAT-CCI-CL_-- 6/12/2009 12:05 PM Page 1

JUNE 15-21, 2009 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 15 EVENT PLANNING

hotel, Mr. Roche said. “We have some breathing room IN BRIEF Hotel: County funding an issue most cities don’t have, and that’s hotels nearby,” he said. The growth Economy forcing meeting continued from PAGE 12 ideas” as it relates to incorporating Either would fit the bill at less cost, in the meeting market will not occur planners to think fast small to serve as a headquarters a hotel into the property operated Mr. McCafferty said. in the first year the medical mart is Meeting planners and venues are hotel for a major convention. by Chicago-based MMPI, which Likewise, Dennis Roche, presi- open, Mr. Roche said, so there will be proving they can be quick on their Sharing that outlook is Bruce recently changed its name from dent of Positively Cleveland, the a chance to construct a convention feet as tight corporate budgets in Harris, the retired president of Merchandise Mart Properties Inc. region’s convention and visitors center hotel as the center takes root. some cases are translating into integrated meeting planner Conferon Mr. McCafferty said the county bureau, said, “This is a tough time to Local hotel operators and owners shorter lead times for business Global Services, now Experient Inc. would make the site of its adminis- talk about a new hotel. The Cleve- vehemently oppose adding a monster- events. in Twinsburg. tration building, 1219 Ontario St., land market right now underper- sized convention-center hotel now — “Since many of our company-spon- “We absolutely, positively, should available for a convention center forms, and it has been below the especially with occupancy through sored events have been impacted by have a hotel that is connected to the hotel on the condition that it national average for some time.” April of this year at 49% in Cleveland, companywide budget reductions, we center. Design it for the needs of the succeeds in buying three properties But, he pointed out, “In the compared to 56% nationally, are now looking at each event on an buyer (who plans conventions),” he on the northeast corner of Ontario long term, (the med mart) will un- according to STR Group, a London as-needed basis,” said Julie Young, said. and St. Clair avenues for the mart derperform without the new hotel.” and Hendersonville, Tenn., hotel senior manager of corporate The need for a connection and an entry to the rebuilt conven- Mark Falanga, senior vice presi- data provider. communications at Lubrizol Corp., a prompted Mr. Harris to support the tion center. dent of MMPI, said the company’s “Ridiculous” is how longtime hotel Wickliffe-based lubricant additives competing Tower City site for the If Cuyahoga County is unable to first goal would be to bring medical manager Vern Fuller describes the maker. medical mart, but the need is the buy the private properties, such as manufacturers and shows to the idea of trying to develop a conven- It’s that “as-needed basis” that has same at the anointed site for the the 113 W. St. Clair office building, property. He said he does not think tion-center hotel today. “It’s easy to event coordinators throughout North- project, which is at the existing its parking garage and the Sports- a convention center hotel needs to find a room in this town. We’re not east Ohio reporting that they’re convention center location. man restaurant, Mr. McCafferty be part of the startup phase. talking about bringing the AMA getting far less time to do their jobs. “Will people want to come to said, it will move the medical mart “Fortunately, there is enough (American Medical Association) into Jim Campbell, director of catering Cleveland in the winter months? to the site of the administration trade show and conference activity town.” at Embassy Suites Cleveland Down- The first thing meeting planners building and annex. that we can tailor our activity to A 20-year advocate of updating the town, noted that, whereas a client look at is the convention center,” That would leave the situation those that are the right size for the convention center, Mr. Fuller, previously may have booked three to Mr. Harris said. “The next is a open for a developer to obtain hotels available,” Mr. Falanga said. president of Marathon Associates of four meetings in advance, plans now connected hotel.” the private properties or another “If we get to the point we’re hearing Cleveland — which operates the are being made as necessary. site for a convention center hotel. again and again we need a conven- Radisson Hotel Gateway — argues Most, however, say they’re happy ‘Open to ideas’ Many Cleveland hotel operators tion center hotel, that would be the city’s hotel business can grow to take the last-minute business and A convention center hotel is not and meeting experts, as well as Mr. another thing.” without a connected convention cen- are prepared for the unexpected. McCafferty, say there are hotels ter hotel because of competitive win- Charles Klass, for one, said in the plan because Cuyahoga Room for another inn? County does not have a funding such as Marriott Downtown Cleve- ter prices and other attractions. condensed lead times have not dras- source for it, according to James land and Crowne Plaza within Downtown Cleveland’s existing Doug Price, co-owner of Willough- tically affected the work of Mayfield McCafferty, Cuyahoga County steps of the medical mart site. hotels, many close to the conven- by-based K&D Group, which owns Heights-based Executive Caterers, administrator. The quarter-cent hike Moreover, Mr. McCafferty said tion center, and its full plate of visi- the Embassy Suites at Reserve Square where he is executive vice president. in the sales tax that county commis- the Marriott has an area designed as tor attractions from prized restau- downtown, said a convention center “It’s never too late to have a sioners enacted is for a convention a potential connection to the center. rants, museums and pro sports hotel belongs on the back burner. party,” he said. center, he said, not a hotel. The Crowne Plaza has a tunnel team means it has amenities to “Hotels that are here have paid the — Amy Ann Stoessel Even so, the county is “open to connected to the existing center. overcome the lack of an attached price to be in the market,” he said. ■ 20090615-NEWS--16-NAT-CCI-CL_-- 6/12/2009 12:07 PM Page 1

16 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM JUNE 15-21, 2009 EVENT PLANNING It’s the start of another work day.

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Value-based group purchasing of: s Pharmacy Benefit Management (PBM) s Dental Vision s PHOTO PROVIDED s Employee Assistance Brides- and grooms-to-be attend a Today’s Bride bridal show at John S. Knight Center in Akron. The Program (EAP)/ magazine conducts four bridal fairs each year, and although attendance usually isn’t a concern, the down economy still creates some uncertainty. Behavioral Health s Health and Wellness s Data Warehouse Prepping for the unpredictable Organizers try to account for challenges associated with open events

By JOEL HAMMOND recession, said Terri Wynne, general Warrensville Heights. While he said [email protected] manager for Employment the Marriott considers all business, Guide.com’s Cleveland office. it takes a look at how these events Count on it. here’s little that rattles Her company in March drew will impact every facet of the hotel. veteran event planners, nearly 7,500 people to the Greater “Freestanding meeting business who have seen every broken Cleveland National Job Fair at the web: www.ehpco.com e-mail: [email protected] is such an unknown,” Mr. Prusak light bulb, microphone Holiday Inn in Independence, and said. “What will it do to current phone: 866.962.0583 (toll free) Tand heavy-duty oven there is to see. last week’s Greater Akron National guests? To the parking lot? To the Open events, though — such as Job Fair was expected to draw about bar and restaurant? There are a lot recent job fairs or other functions 2,000. The company pre-registers of things you need to look at.” interested participants and always that offer little certainty — present a Solutions, please fair share of challenges, organizers plans for larger crowds, with extra say. Traffic snarls. Wasted food. Too security and parking, but demand Limiting waste is one way to Play Firestone Country much costly labor. Contract squab- still can outpace supply: More than control these events: Executive bles with vendors. 1,000 job seekers were shut out of Caterers attempts to use as much It’s tricky, said Michael Ferrara, the Independence event. nonperishable food as possible, and Club This Fall For an event planner and designer at “We’ve never experienced what uses grills and makes food to order Mayfield Heights-based Executive we’re going through now,” Ms. for outdoor events it caters. Caterers, whose company — while Wynne said. “There’s no single ideal Organizers also can draw on past a Special Rate dealing mainly with more structured process to handling these events, experience, said Megan Kim, direc- events — caters a Willoughby street but you try to safely manage the tor of public relations and programs fair for the Cleveland Catholic Dio- at the Council of Smaller Enterpris- cese each summer and has assisted es, who leads the organization’s with golf events and horse shows. “Freestanding meeting production of the Small Business It also was deluged during last business is such an Conference at the I-X Center. The year’s political season: Barack unknown.” event, now in its fourth year, drew Obama and Hillary Clinton, among 1,155 people last October; Ms. Kim others, made stops and brought – Tony Prusak said COSE’s events typically have a plenty of friends. “We had packed sales account manager, 15% no-show rate that often is filled houses, especially since everything Marriott Cleveland East by walk-ins. was so energized,” Mr. Ferrara said. “We’ve learned what sessions Energized? How about thousands people and give as many as possible have higher attendance, so we’re 17th hole, Firestone North Course of job-seekers converging on one a chance to attend.” able to pull more resources there, to spot? Or thousands of brides-to-be The company is planning another plan it better,” Ms. Kim said. “So eager to plan their big days? Cleveland event in September, while we don’t have a set number Akron-based Today’s Bride and is talking with larger venues, of attendees, we’re able to be magazine produces four bridal including Quicken Loans Arena. prepared, adapt and be flexible.” shows each year: in January, at the Meanwhile, Cuyahoga Commu- Precaution also is needed with John S. Knight Center in Akron and nity College in May co-sponsored vendor contracts, said Anne Abbott, the I-X Center in Cleveland, and in what was dubbed the “Biggest Job president and owner of Tradeshow October, at hotels in Independence Fair in Ohio,” which attracted an Multimedia Inc., a Warrensville and Cuyahoga Falls. The company estimated 6,000 to the Cleveland Heights company that provides tries to entice brides with incentives Convention Center. That figure rep- technology solutions — Internet set- to pre-register, but in a show week- resents a little more than half of the up or electronic registration, for in- end that typically draws 10,000, for 10,000 event pre-registrations, stance — for the event industry. Purchase a Bridgestone Invitational instance, to the I-X Center, there re- which had created concerns of Take hotel rooms: If an organizer corporate package for as little as $495 and mains plenty of uncertainty. traffic tie-ups. falls short of an attendance goal and “We’re typically a bit cautious in “We tried to think of everything must release rooms it originally you and a guest can play Firestone Country our plans, because you don’t know we could,” said Tri-C spokesman booked, it will pay penalties, Ms. Club for a special rate. To reserve your what the market will bring and can’t Dan Minnich, “like safety and secu- Abbott said. The same holds true for assume they’ll come out,” said rity of job seekers, employers and other vendors. package and learn more call 330-644-2299 bridal show manager Jennifer Fyffe. volunteers; access to concessions “Organizers must pay close atten- or visit worldgolfchampionships.com. “But we’ve seen little effect from the and restrooms; and an early arriving tion to their contract language,” said recession in our industry and at our crowd. And then it turned out we Ms. Abbott, whose firm is in its 25th shows.” overprepared.” year. “If a security company is Of course, there are potential expecting to have 12 officers at an &)2%34/.%#/5.429#,5"s!5'534   A big job pitfalls for hosts of such events, said event and the week before the orga- The recent spate of job fairs are Tony Prusak, sales account manager nizer needs only two, the ability to likely to continue as long as the at Marriott Cleveland East in adjust has to be in the contract.” ■ 20090615-NEWS--17-NAT-CCI-CL_-- 6/12/2009 12:07 PM Page 1

JUNE 15-21, 2009 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 17 EVENT PLANNING Costs: Targeted approach gets results

continued from PAGE 12 Leek-Nelson said. fundraising events. North Coast Such approaches are becoming Recovery Resources is taking a develops community-based more popular as nonprofits look to more targeted approach to fundrais- homes for people with mental maintain their fundraising levels in ing, said Debora Rodriguez, presi- retardation, mental illness or a deep recession that has compa- dent and CEO of the organization, developmental disabilities. nies and individuals reducing their which provides programs for the As of late May, only 93 golfers spending, said Lauren Steiner, who mentally ill and those with drug, al- had signed up for North Coast’s owns Grants Plus, a fundraising cohol and other addictions. July 20 golf outing and the number consulting agency in Bay Village, She said some corporations are of corporate sponsors was down to and who also is on the board of the refusing to sponsor events altogether 25 from 34 last year, which has the Cleveland chapter of the Association because of financial difficulties. nonprofit expecting to net only of Fundraising Professionals. “They’re saying, ‘Don’t hit me up about $60,000 in fundraising, she “Everyone is concerned. They’re for money for a golf outing, a race or said. The event typically attracts looking for a similar performance” a walk,’” she said. “They’re receiving about 140 golfers and raises about as seen in previous years of these (stimulus) dollars and cannot $110,000, she said. fundraising, she said. be seen funding events.” “I’m still working and hoping to As a result, she said Recovery fill it out,” Ms. Rosenthal said. No child’s play Resources is approaching only those It’s also slow going for North Providence House, a crisis with whom it has a more estab- Coast’s Sept. 12 gala, she said. nursery in Ohio City, had its annual lished relationship when asking for Some sponsors have decreased the fundraising luncheon April 28. donations for an event. amount they will give to the event, Instead of serving the typical salad Though it is proving to be a which was held for the first time in and hot chicken dish with vegeta- successful tactic so far this year, Ms. 2007, she said. As of late May, bles, the organization saved about Rodriguez said she knows “not North Coast had raised about $7,000 by serving macaroni and everybody will be able to fund us at $100,000 in sponsorships, or about cheese, fruit and a piece of choco- the level they’re used to,” so Recovery 25% of its $400,000 goal, she said. late cake with M&Ms on top, said Resources is looking for ways to trim “It’s very tough out there,” Ms. Natalie Leek-Nelson, CEO and pres- its overall overhead costs, such as Rosenthal said. “Just about every- ident of Providence House. by sending invitations and annual thing we do (with regard to To complete the meal — created reports by e-mail. fundraising) is netting down.” in the spirit of the children served by ‘Very tough out there’ Showstoppers the organization — attendees were Doubletree’s Newest Hotel encouraged to take home prepared Others organizations, meanwhile, Some nonprofits are choosing to portions of vegetables as an “after- are forging ahead. United Way will cancel their events altogether, said in Downtown Cleveland noon snack,” she said. hold its annual golf tournament on Mary Ogden, a principal with the Usually, a board member will ask a yet-to-be determined date in Ogden Post Consulting Group LLC attendees to give money at the September and the event will not be in Medina. Whether your event is large or small, at Doubletree®, event, but this year the nursery had scaled back, said Jenna Snyder, a “We’re seeing some organizations children share stories and ask atten- United Way spokeswoman. cancel their golf tournaments, or we have the services, facilities and experience to make dees to give at least $20 each, Ms. Participation and donations anything that depends on corporate it a huge success. Your meeting participants will Leek-Nelson said. The nursery linked to that event remain to be sponsorship,” she said. appreciate our comfortable, well-equipped raised $12,000 that day, much more seen, but United Way already has But that’s a tricky compromise, meeting rooms; you’ll enjoy the support of our than in previous years, she said. had a tough fundraising year. At its Ms. Ogden said. Nonprofits should experienced and attentive team members who are Though corporate sponsorship March 6 annual meeting, the non- be concerned that, if their event was down and the number of atten- profit announced it fell $2 million takes a one-year hiatus, people dedicated to making your event flawless. dees was about 100 fewer than the short of its $42.5 million goal for the might forget about it or get used to • 379 guest rooms (5 suites) nearly 700 who attended last year, fiscal year that ended that day. The not attending, she said. • 10,347 square feet of meeting space including she said the nursery raised about meeting’s attendance this year also While the recession is forcing a 5,643 square foot ballroom accommodating $50,000 at the luncheon, up from dropped by 155 people, down to short-term changes in how nonprof- up to 600 about $35,000 last year. And people 1,135 from 1,290 in 2008, she said. its raise money, it also is sure to raved about the new format, even Barbara Rosenthal, vice presi- forge long-term changes, she said. • Executive Level Floors featuring a concierge requesting the nursery serve grilled dent of resource development at “(Nonprofits are) looking at lounge offering weekday breakfast and a cheese and tomato soup at next North Coast Community Homes, revenue streams and seeing which manager reception year’s luncheon, she said. is keeping her fingers crossed that ones are more stable than others • Stadium 3 Bar & Grille “We’re focusing on getting much attendance will pick up at that and what’s going to change as a re- • Complimentary shuttle service within the more creative and unique,” Ms. organization’s two upcoming sult of this (recession),” she said. ■ downtown area • Business center and Doubletree Fitness by Precor • Heated indoor swimming pool and whirlpool Carefully construct agenda before conducting webinar • Starbucks® coffeehouse located in the hotel lobby

ebinars are increasing TOMBEHAN and create synergy. We’ll make the planning part so easy, you’ll need in popularity — ■ Webinars allow the presenter something else to worry about. especially in today’s and the audience to interact with economy. one another using text, images or WTypically live and online, webinars even audio. You need to test and allow you to hold interactive practice to make sure you have the meetings anytime and anywhere. basics down pat. Compared to the traditional meeting ■ Ensure you have a high-speed scenario, which means investing Internet broadband connection; more time and expense on travel ADVISER this applies both to you and your and conference rooms, a webinar is audience. If your audience goes often the preferred choice of busi- knows the tricks on how to host a online via a dial-up Internet nesses today to generate prospects. webinar and provides meeting con- connection, then hosting a webinar But before you can fully enjoy a sultants to offer assistance. might not be for you at this time. If webinar’s benefits, it is smart to ■ It is best that you schedule the you will interview guests in your 1111 Lakeside Avenue E., Cleveland, OH 44114 determine your objectives and care- webinar to occur at least twice to webinar, they also need a good Reservations: 1-800-222-TREE 216-241-5100 fully plan on your content. Here are accommodate diverse time zones. broadband subscription. some other issues to think about Avoid scheduling your webinar on ■ You and your guests will sound www.clevelanddowntownlakeside.doubletree.com when hosting a webinar: Monday or Friday, as these are peak better if you make use of USB ■ Pick a vendor that knows how conferencing days and attendance headset and microphone. If using a to host a webinar and will work with often is lower. An expert who knows telephone for the audio portion of A Member of the Hilton Family of Hotels diverse operating systems, can how to host a webinar is likely to the webinar, make sure the speakers accommodate a large number of choose 10 a.m. and 2 p.m. for the have excellent quality telephones participants and is reliable. Also, webinar as these are times where and are not a using a mobile phone ® consider vendors that are experts in most people are at their desks and or speakerphone. ■ Hilton HHonors membership, earning of Points & Miles®, and redemption of points are the latest techniques on how to host available before and after lunch. subject to HHonors Terms and Conditions. a webinar, such as chat, recording ■ Encourage an industry expert, Mr. Behan is a partner of Cleveland- ©2009 Hilton Hotels Corporation features and polling. partner or customer to join your based SpeakSpace LLC, a provider ■ A good webinar hosting vendor webinar as this will motivate interest, of audio, web and video conferencing. 20090615-NEWS--18-NAT-CCI-CL_-- 6/12/2009 3:06 PM Page 1

18 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM JUNE 15-21, 2009

the change in the law, buyers of opened in 2007 a few blocks away in to owner-occupied properties raises Condos: Lower-priced units available apartment units converted to condos the Flats, is selling for $189,900. the unabated, taxable base of those will get a full 10 years of abatement. “The prices (of renovated build- properties. continued from PAGE 1 condo owner only could receive “It will add to the viability of ings) are lower than new construc- Owners of downtown apartments Cleveland City Council estimates whatever remained of the original, homeownership downtown,” said tion (downtown), so ownership will already are assessing whether to its new ordinance affects 33 rental 10-year tax abatement. That limit Joseph Marinucci, president and be available to people of more make the switch to condo buildings. buildings with 2,273 units that particularly hurt developers of CEO of the nonprofit Downtown moderate means,” said developer Among them is Ari Maron, a part- have won historic designation. The historic buildings that qualified for Cleveland Alliance. “It provides a John Carney of Landmark Manage- ner in MRN Ltd., which owns five buildings include the Water Street federal preservation tax credits different price point.” ment Co., who is selling units at the rental properties in the East Fourth and Cloak Factory buildings down- because they were required to hold For example, a one-bedroom, one- Water Street and at the Perry-Payne Street area downtown. town and the Fries & Schuele and the buildings as rentals for at least bath unit at the century-old Water Building on West Superior Avenue. “We anticipate we’ll probably be Chicle buildings on the West Side. five years to earn the tax credit. Street apartments on West Ninth Councilman Anthony Brancatelli doing some conversions in the next Until now, when a renovated and Many of the buildings on City Street is on the market for $79,900. By said the city benefits from shifts to year or so,” Mr. Maron said. He tax-abated apartment building was Council’s inventory have passed that comparison, a one-bedroom, one- condo ownership because the con- wouldn’t say which properties converted to condominiums, a new milestone or are approaching it. With bath condo at Stonebridge Plaza, version and sale of rental buildings might be converted. ■

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INDUSTRIAL SR 57 - 1,700 foot frontage on Rodson Rd. - all utilities at site - sewers coming in 2010 - HINKLEY LIGHTING COMPLEX FOR SALE OR LEASE - office/mfg./dist. - 20,000 to Joe Solkiewicz or George Pofok, CCIM 196,000 sf - priced below market - includes state of the art dist. center built in 2005 - 31’ clear LAKEWOOD AT CORNER OF BUNTS & MADISON - redevelopment opportunity in Lakewood - Lakewood - great highway access - Kevin Kelly - ideal location for retail, fast food, drug store or other - Ken Anderson or George Pofok, CCIM I-90 - CLEVELAND WEST - 181,944 sf manufacturing facility on 5.425 acres with 20,000 sf OFFICE of office - 13’-28’ clear - sprinkler - 11 docks - 6 DI’s - Fred Christie, SIOR NEW TO MARKET! - 18th and Superior up to 90,000 sf of Downtown Class A Office avail- 4001 Indian Runn Dr. • Dayton, OH 9000 Spring Meadow Dr. • Trotwood, OH SOLON - modern distribution building - 108,000 sf - 24’ clear - 16 docks - 3 DI’s - up to able with furniture, amenities and parking - Tom West, SIOR 24,000 sf of executive offices - owner will subdivide - good freeway access - Matt Beesley, SUBLEASE OPPORTUNITY - great location - attached parking - full floor available - 19,322 • Lender Sale • 323 Units • Lender Sale SIOR or Bob Garber, SIOR sf - below market rates - $13.50 sf as-is - term thru 8/31/2014 - Pat Reardon, SIOR • $9,500,000 or $29,411 Per Unit • 160 Units OFFICE BUILDING FOR SALE - TWINSBURG - 14,000 sf - conveniently located just off of Rt. 91/I- I-480/I-77 - 59,626 sf with 8 docks - 1 drive-in - 3,600 sf of office - 19’ ceilings - Bob Garber, SIOR • More than 85% Occupied • 94% Occupied MENTOR - 48,192 sf industrial investment opportunity - strong tenant occupies 46,500 sf - 271 - open plan with upgraded finishes in private office $750,000 Must See - Rico Pietro, SIOR building easily subdivides - 4 docks - 10 drive-ins - Eliot Kijewski or George Pofok, CCIM WESTLAKE OFFICE BUILDING FOR SALE - investor/user opportunity, attractive med- • Received $1.5M in Renovations in 2008 • $4,900,000 or $30,625 Per Unit 20,000 SF on 3.16 ACRES - divisible to 10,000 sf - above standard office - 1985/93 masonry con- ical/general office - 9,436 sf - convenient to I-90 - John Glasstetter, SIOR • All Available Due Diligence Provided • All Available Due Diligence Provided struction - 18’ ceilings - Lg. DI’s - hvy. power - 8” floors - rubber roof - secured yard - Joe Barna, SIOR CLASS A SUBLEASE - 5,506 sf - fully furnished - 38 cubicles - 5 offices - at I-77 & Rockside Prior to Bid Deadline Prior to Bid Deadline 15,000 SF - I-480/71 - power - 2 docks - 1 drive-in - sprinkler - For Sale - Armand Aghajanian - to 9/30/2010 - Pamela Bertovich or Tom West, SIOR 4,000 SF COMMERCIAL BUILDING - with 4,000 sf basement - zoned local retail - Lorain Ave FOR SALE - Northfield Center Twp. - 3,200 sf former bank site on 3.2 acres - great owner- For More Info Please Contact: For More Info Please Contact: ship opportunity for medical user or other professionals - just north of Rt. 82 on Old 8 Rd. - Barry Swatsenbarg Rich Deptula Barry Swatsenbarg Rich Deptula & Bosworth Road - near W. 117th and I-480 - George Pofok, CCIM or Eliot Kijewski [email protected] [email protected] [email protected] [email protected] 92 ACRE SITE FOR SALE - Carlisle Twp. / Lorain County - over 1,200 foot frontage on close proximity to shopping , restaurants, Rt 8 & I-271 - Laura Malone or Fred Christie, SIOR 248.324.2000 248.324.2000 34975 W Twelve Mile Rd 34975 W Twelve Mile Rd Heavy Industrial Space REAL ESTATE OFFICE RETAIL SPACE Farmington Hills, MI 48331 Farmington Hills, MI 48331 for Lease SERVICES WAREHOUSE www.friedmanrealestate.com www.friedmanrealestate.com Up to 70,000 square feet of high For Sale By Owner bay industrial space with large 2383 Pearl Road overhead crane capacity in north- Loading Dock Services For Sale or Lease 11,200 square feet east Ohio. High volume natural Service, Maintenance and Sales 1559 Superior Ave., Cleveland gas available along with 3MV of of Dock Levelers, Bumpers, Fully Leased – Income Generating Property LUXURY PROPERTY FOR SALE electrical power.Rail, loading Seals, Truck Restraints and 56,355 SF Bldg, Magnificently Restored. Retail and Warehouse docks and large overhead doors. Metal Stairs. Free Inspections Colliers Ostendorf-Morris $579,000 List your high-end real estate here Contact Craig @ 330-958-6610 and Estimates. Joseph Martanovic - 216.861.5434 216-789-9427 or [email protected] 800-34-DOCKS / 440-729-0380 Thomas Gustafson - 216.861.5447 for great high-end exposure. List your Discount rates available. LAND OFFICE Industrial, commercial Crain’s Cleveland Business can now Commercial Land for Sale BRECKSVILLE LOTS New Solon Office Building or retail Pepper Pike - 1.83 acres 1+ ACRE LOTS SHOW permit approved for 30675 Solon Rd. space here! 27,000 SF building ESTATES AT 1st floor 1200 sq. ft. your available property on-line. call Denise Hahn CONIFER ACRES 2nd floor 2500 sq. ft. Contact Weber Wood Medinger REDUCED PRICING with elevator. Genny Donley 216-464-7100 ONLY 4 LOTS LEFT! Call Dinallo-Wittrup & Associates Call Genny Donley at (216) 771-5172 [email protected] CALL 330-220-7333 440-349-4664 at 216.771-5172 CLASSIFIED BUSINESS SERVICES INVESTMENT SPORTS & OPPORTUNITIES ENTETRTAINMENT Crain’s Executive Recruiter FLYNN ENVIRONMENTAL BANK OWNED Indians Private Loge for site Seeking Prompt Sale! Share our Home Plate suite Great Lakes Financial Group Seeks Loan Officer

assessments 4 Apartment Bldgs. – 56 Units for the Indians! 12 tickets and Cleveland-based multi-family mortgage banking compa- Lakewood, Cleveland & Lorain parking included. (800) 690-9409 As a package or Separate ny, who is a direct lender for Freddie Mac Program Plus, Please call Jen at Fannie Mae and FHA MAP, looking for experienced loan www.flynnenvironmental.com Ag Real Estate Group, Inc., 216-504-5000 614-218-3884 originator to develop, originate and pursue relationships We confidentially www.agrealestategroup.com www.SuitePartners.com sell businesses. in Midwest territory (including market rate, affordable and Microsoft CRM senior housing). Aggressive compensation package Specialize in: Classified Ads WORK! commensurate w/experience. Manufacturing DON’T Email resume to [email protected]. Distribution Accelerating Sales & WANTED FORGET: Marketing Effectiveness B2B Service Industries Crain’s Cleveland Business To place your 330-929-1353 on-line @ Confidential Business Sale, Inc. WILL BUY Crain’s Cleveland Business CrainsCleveland.com ALL OFFICE TELEPHONE Executive Recruiter ad 216-739-0272 For daily on-line EQUIPMENT ConfidentialBusinessSale.com Call Genny Donley updates, sign up @ Please Call: 877-RICHARD Experience. Trust. Success. CrainsCleveland.com/Daily Please Call: 877-742-4273 at 216-771-5172 20090615-NEWS--19-NAT-CCI-CL_-- 6/12/2009 2:30 PM Page 1

JUNE 15-21, 2009 WWW.CRAINSCLEVELAND.COM CRAIN’S CLEVELAND BUSINESS 19 THEINSIDER REPORTERS’ NOTEBOOK THEWEEK BEHIND THE NEWS WITH CRAIN’S WRITERS We like the suggestion for the company. transferred to other PNC units with the capa- JUNE 8 - 14 Maybe it’ll take off, maybe it won’t. It bilities to manage them. at the end of this item would have a better chance, however, if it “After a thorough review, we determined The big story: The Ohio Supreme Court in a ■ A web site created by a Solon company started including links to respected publica- that Capstone did not fit PNC’s business 5-2 decision backed a state law passed in 2006 hopes to be your primary source for local tions, like, I don’t know, maybe Crain’s model and real estate finance strategy,” Mr. that said cities can’t require their employees to news, even after you move to Wyoming. Cleveland Business. — Chuck Soder Solomon said. — Arielle Kass live in the community where they work. Political Shoutback Concepts LLC on June 1 leaders in large cities, including Cleveland and launched Shoutback.com, a site that feeds PNC puts a lid Consultant takes the Akron, that have these laws feared a ruling visitors local content depending on where against them would lead to an exodus of police, they are. on Capstone long view with new unit fire and other employees to the suburbs. The The site is young but already is drawing ■ Capstone Realty Advisors, which was hit ■ BrownFlynn hopes sustainability will sus- cities have long required their employees to live positive feedback from the 1,000 or so by the defection of its top executives last sum- tain a new division it has launched. within the city limits. But the state Legislature in visitors it attracts each day, said Rob Scher, mer, has been shut down by PNC Financial The firm, which describes itself as a sus- 2006 passed a law that took away cities’ rights to president of Shoutback, Services Group. tainability and corporate responsibility con- have such a requirement. The cities have fought which has five employ- Capstone was a National sulting firm, said the new division, Brown- the law in court, arguing the Ohio Constitution’s ees. City Corp. subsidiary that Flynn Learning, will offer a variety of home-rule provisions give them the power to set “We’ve had people say, employed 44 people as of sustainability and corporate responsibility terms of employment. ‘This is our home page September 2008. It man- education and training courses. now,’” Mr. Scher said. aged a $9.4 billion loan BrownFlynn said the division’s creation Family ties: Case Western Reserve University The site draws content portfolio at that time. was spurred by the company’s selection as received $5 million from its board chairman from news web sites as The group purchased the first U.S.-based certified training partner and his wife to support a yet-unnamed capital well as online event calendars while also loan servicing businesses and focused on of the Global Reporting Initiative (GRI), an project. Charles “Bud” Koch and his wife, Katie, posting information on local gas prices, commercial real estate loan brokerages, a organization that has created sustainability donated the money on behalf of their family, movie times and weather. National City spokeswoman said. After the reporting guidelines. which has multigenerational ties to CWRU. Mr. The company is in the process of including executives left, Capstone was consolidated “The core of our business has always been Koch, a Bratenahl resident, became chairman of more blogs on the site, which also features a under Red Capital Group, National City’s about the triple bottom line — people, plan- the CWRU board in 2008. He was chairman, local Twitter feed on its home page. Columbus commercial mortgage lending et and prosperity,” principal and co-owner president and CEO of Charter One Financial Inc. Other pages within the site aggregate business. The rest of that group remains in Barbara Brown said. “BrownFlynn Learning before it was sold to a unit of Royal Bank of Scot- news links according to categories such as U.S. place. further solidifies our commitment to and land in 2004. news, world news, sports, entertainment and PNC spokesman Fred Solomon said the belief in the importance of educating others business. bank would not be “discussing the disposition on corporate citizenship.” Tighter funds for Fund: Members of the In other words, Shoutback’s goal is to of various businesses” as it works to merge The division has established training Fund for Our Economic Future voted unani- provide “what you’ll need when you leave National City into PNC and eliminate 5,800 dates for two-day workshops titled “The GRI mously to support a third phase of activity to the house every morning,” said Jodi Brooks, jobs between the two organizations. He did Process.” The dates are July 27-28, Aug. 24- start in February 2010 and end in February 2013. director of operations, sales and marketing say, though, that Capstone’s portfolio will be 25 and Sept. 21-22. — Mark Dodosh The Fund, formed in 2004, uses grantmaking, research and civic engagement to strengthen the 16-county region’s economic competitiveness. In phase three, as in the previous phases, voting MILESTONE CHOICE BITS members will contribute $100,000 or more to the collaboration. In its first two phases, the Fund COMPANY: Medical Mutual of Excerpts from blog entries has raised more than $55 million. Fund chair- Ohio, Cleveland on CrainsCleveland.com. man David Abbott said the Fund anticipates fewer resources will be available to it in the next THE OCCASION: Its 75th anniversary Progressive’s new ad three years than were available during each of its has shades of gay first two phases. The health insurer was founded in 1934 — another year with a bleak economy. ■ With a name like Progressive, it shouldn’t Rooms with good views: Eaton Corp. started Current president and CEO Rick Chiricosta be a great surprise if the auto insurer in taking the wraps off its new headquarters with a says that while 2009 Mayfield Village crosses a line few companies presentation before the Cleveland-Cuyahoga isn’t as dire as 1934, even approach in their advertising: featuring County Port Authority committee that reviews challenges remain, and a gay couple. “Friends.” He says the ad “was not written development finance projects. The company is Medical Mutual employees Slate.com on June 8 took a look at one of specifically to be gay. But if people interpret planning a $170 million, crescent-shaped complex are meeting them. the new ads in Progressive’s charming TV it that way, it’s fine with us.” that will include 10-story and four-story portions “All businesses are campaign — the one featuring the oddly on a site that is the highest point in Cuyahoga struggling in this economy, alluring “Flo” — and wondered if the two After Madoff’s fall comes County. Executives on the upper floors will have a but the best companies men shopping for insurance are gay. a Baker Hostetler windfall view of downtown and Lake Erie 11 miles away. will survive while the “The tall guy’s speech and mannerisms Chiricosta The building design will allow the company to weakest ones will not,” seem to be tripping a lot of folks’ gaydar,” ad ■ The Wall Street Journal reported that expand on the 53-acre site. he says. “We have all worked incredibly hard critic Seth Stevenson writes. Cleveland law firm Baker Hostetler is reap- … to put (Medical Mutual) in a very strong Mr. Stevenson noted that ads featuring ing big benefits from its hiring late last year They could go far: PPG Industries of Pitts- financial position, but with the challenging gay characters “are exceedingly rare, of Manhattan bankruptcy attorney Irving burgh said its aerospace coatings business has economy and some sort of (health care) bordering on nonexistent, when it comes to Picard, 67, who had just been named trustee signed an agreement with Farécla Inc. in Chagrin reform imminent, we need to work equally mainstream network television.” He won- of Bernie Madoff investment firm. Falls for global sales and distribution of Farécla’s hard to preserve that solid financial position.” dered if the Progressive ad “was designed to The newspaper noted that Mr. Picard polishes, abrasives and waxes for use on aircraft Medical Mutual is celebrating the anniver- split the difference: subtly winking at the offers Baker an obscure specialty: brokerage coatings. PPG did not disclose terms of the agree- sary today, June 15, with a ceremony. gay community while making no definitive liquidations. “Until the Madoff case, such ment with Farécla, which is the U.S. unit of Guests include the first and one-millionth statement on the characters’ sexuality.” work wasn’t considered especially lucrative Farécla Products Ltd. of the United Kingdom. babies covered by Medical Mutual. Progressive’s chief marketing officer, Larry for major firms,” The Journal said. For information, visit www.medmutual.com. Bloomenkranz, was fine with that reading. The Madoff matter will show that Baker To keep up with local business news as it “A Joey and Chandler dynamic was the “can handle big, complicated cases ... so I happens, visit www.CrainsCleveland.com. Send information to managing editor Scott archetype,” Mr. Bloomenkranz said, refer- think it is something that will be good for Suttell at [email protected]. ring to two male pals from the sitcom the firm’s reputation,” Mr. Picard said. 20090615-NEWS--20-NAT-CCI-CL_-- 6/12/2009 2:30 PM Page 1

20 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM JUNE 15-21, 2009

Waiting for the fall therefore will be tempting to Funds: Track record, experience make difference today investors, even in the current down But that environment won’t economy. continued from PAGE 1 all private equity firms are sitting ments, pension funds and insur- keep Bassem Mansour, co-CEO of “The current environment has they’ve already made. out this period. Some are choosing ance companies that had invested Resilience Capital Partners, from lots of opportunities for us,” he said. CapitalWorks LLC chairman Rob instead to push forward with their with Riverside in the past and were stepping into the fray. Resilience “There are plenty of attractive McCreary said if a fund started to fundraising plans. interested in doing so again were raised $50 million in its last fund, but investment opportunities for five raise money now, it would be The Riverside Co. recently closed a unable to because their own shrunken has a $300 million target for a fund it years or more. I don’t think there’s competing with the secondary $1.17 billion fund, its biggest yet. But portfolios left them with less avail- expects to start raising money for going to be any shortage.” markets, where institutions can buy co-CEO Stewart Kohl said the 14 able money to do so. later this year. Others, though, are grateful that and sell limited partnership inter- months it took to close the fund was The heads of other firms said “We consciously decided not to they don’t need to rush to raise ests in funds. The sales usually are longer than normal for the firm. Riverside’s accomplishment shows go to the market to raise the fund money. Jonathan Murray, managing of commitments to funds that are “It was even more difficult than we the importance of a good track earlier this year,” he said. “If it was a director of venture capital firm more established, giving buyers would have expected. It got progres- record and a current portfolio in better environment, we’d probably Early Stage Partners, said he recently more certainty about what they’re sively more difficult,” he said. “It excellent shape. go to the market now, but fall 2009 froze the group’s fundraising efforts investing in for fractions of the was extraordinarily challenging. We Loyal Wilson, a managing direc- is when we’d like to target.” for a period of months because he original investment price. worked harder and longer to do it.” tor at Primus Capital Funds, said Mr. Mansour said he expects didn’t expect their efforts to yield The ability to invest in existing Mr. Kohl said Riverside always has established funds have a leg up as Resilience’s efforts to take about six any results. funds likely would crowd out a lot of provided investors with detailed investors pay more attention to months longer than they would have Evolution Capital Partners the new funds trying to access that information about the firm and its how partners have worked together before the economy took a dive. But managing partner Brendan Ander- same capital, Mr. McCreary said. investments, but that the level of in the past. While fundraising was he thinks Resilience’s niche — the son said he’s close to considering requests for such details was even never easy, Mr. Wilson said, it like- the firm’s next fund but hopes the Beyond the norm firm looks for underperforming higher this time than in the past. ly has gotten more difficult with the middle-market companies it can turn climate changes before he gets to Despite the hurdles, though, not He also said several endow- bad economy. around — is counter-cyclical, and that point. ■

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2008 JAGUAR XK CONVERTIBLE LAND ROVER SOLON New, executive driven red with black leather interior. 6137 KRUSE DR.• SOLON • 1-866-210-6707 Luxury package, premium sound, 19” chrome wheels. www.landroversolon.com * 36 month lease. Total due at signing $1,499 includes 1st payment. Tax, title and registration fees extra. Customer responsible for excess wear and tear. 10,000 M.S.R.P. $88,075 miles per year. 30¢ per mile over. M.S.R.P. $59,150. Other Range Rover Sport’s available at similar savings. Expires 6/30/09. ** Since 1987 NOW: $65,900 JAGUAR CLEVELAND 6137 KRUSE DR., SOLON • (440) 542-0601 RANGE ROVER SPORT www.jaguarcleveland.com *March 19, 2009, The New York Times, Wheels Blog regarding 2009 Independent Vehicle Dependability Survey results'

davis automotive group inc. www.DavisAutomotive.com

06-08maserati crains.indd 1 6/3/09 10:45:11 AM