20101213-NEWS--1-NAT-CCI-CL_-- 12/10/2010 1:17 PM Page 1 Vol. 31, No. 49 $1.50/DECEMBER 13 - 19, 2010 Hyland to take on debt to pay shareholders Planned $131M dividend distribution signals investor confidence in Westlake software firm By CHUCK SODER credit rating reports issued by [email protected] Moody’s Investors Services and Standard & Poor’s Ratings Services. Hyland Software Inc. plans to Transactions in which a company take on $225 million in debt that it takes on debt to pay shareholders would use to fund a $131 million were rare during the worst of dividend payment to shareholders the economic downturn but have and to refinance existing loans. grown in popularity over the past The Westlake-based document few months, particularly among management software company companies owned by private equity plans to secure a $205 million firms. Thoma Bravo, a private equity senior secured term loan that would firm with offices in Chicago and San be due in 2016 as well as a $20 Francisco, bought a majority stake million secured revolving credit in Hyland Software in mid-2007. facility due in 2015, according to See HYLAND Page 22 INSIDE 12 Days of a Cleveland Christmas You need some serious cash to afford all the gifts of the 12 Days of Christmas, Cleveland-style. Following in the spirit of GETTING LOADED the annual PNC Christmas Price Index, we determine how much various Cleveland-centric gifts would cost you, from Browns tickets to rock stars and beer. Check out the Port officials take a shot at diverting some imported localized lyrics and our gift list on Page 3. liquor shipments from East Coast to Cleveland By JAY MILLER A spokeswoman for the Ohio Nonprofits keep fingers [email protected] Division of Liquor Control said rohibition-era bootleg- her agency convened a meeting crossed through holidays gers used to “import” in Columbus on Oct. 20 to open Canadian whiskey from the discussion with spirits Organizations close in on fundraising goals importers about the feasibility across Lake Erie under By TIMOTHY MAGAW last few years to continue to loosen Pcover of darkness to speakeasies. of rerouting shipments of [email protected] over the holiday season. Many raise scotch, vodka and other a large chunk of their revenue — Now, the Cleveland-Cuya- The holiday months are a key some as much as 50% — during the hoga County Port Authority liquors. The shipments, now fundraising period for many of months around the holidays, and and International Longshore- received at East Coast ports, Northeast Ohio’s nonprofits and they’re ramping up their marketing could be sent up the St. charities, and so far this year, many efforts. men’s Association want to — but not all — say they’re on track “This is a very crucial time, and bring imported liquor from Lawrence Seaway to the docks to meet or exceed their targeted nonprofits are realizing they can’t of the Port of Cleveland. goals. just sit and wait for checks to come overseas into the Port of Cleve- Giving hasn’t rebounded to pre- in the mail in December,” said land in broad daylight. See LIQUOR Page 9 recession levels, but many nonprofits Kathy Bergh, program director for are counting on the fundraising vise the certificate of nonprofit and that hampered their efforts over the See GIVING Page 8 SPECIAL SECTION 49 6 SMALL BUSINESS NEWSPAPER Entrepreneurs give back by donating a portion of 71486 01032 their revenues to charities ■ Page 13 0 PLUS: RAISES RISE ■ STONE CARVERS ■ TAX TIPS ■ & MORE 20101213-NEWS--2-NAT-CCI-CL_-- 12/10/2010 11:08 AM Page 1 2 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM DECEMBER 13 - 19, 2010 CORRECTION COMING UP HOW WE SPEND IT A Dec. 6, Page 7 story misstated the Households in the Cleveland-Akron area spent an average of $45,844 on living percentage that independent This year’s expenses in 2009, a figure that’s 8% lower than the national average of $49,778. physicians must pay of their an- Book of Lists, The biggest area of expenditure was housing (including utilities), where the average nual cash collections to join the which publishes Northeast Ohio household spent $15,483, accounting for 33.8% of total house- 700 W. St. Clair Ave., Suite 310, Sisters of Charity Health Sys- hold spending. Northeast Ohioans allocate their dollars in eight major categories Cleveland, OH 44113-1230 tem’s physician alignment sub- Dec. 20, — representing 93% of household spending — in similar fashion to their counter- Phone: (216) 522-1383 Fax: (216) 694-4264 sidiary, Independent Physician features 44 parts nationwide, though more is spent here on health care and insurance: www.crainscleveland.com Solutions. Physician practices lists, including earning $600,000 or less must Share of household Share of household Publisher/editorial director: pay 7.75%, while those earning our Health Category Brian D. Tucker ([email protected]) expenditures in U.S. expenditures in NEO Editor: more than that must pay 6.75%. Care Directory, Mark Dodosh ([email protected]) and thousands Housing 34.2% 33.8% Managing editor: REGULAR FEATURES Scott Suttell ([email protected]) of contacts with area Transportation 16.3 15.3 Sections editor: Classified ................21-22 organizations. And on Amy Ann Stoessel ([email protected]) Food 12.9 12.5 Assistant editors: Joel Hammond ([email protected]) Editorial .......................10 Jan. 3, Crain’s will publish Insurance and pensions 11.1 12.2 Going Places ................12 our 2011 Economic Sports Health care 6.1 7.1 Kathy Carr ([email protected]) Letters .........................11 Outlook section that looks Marketing and food Entertainment 5.6 5.3 Senior reporter: List: Banks, savings at emerging sectors and Stan Bullard ([email protected]) Real estate and construction institutions............18, 20 issues in Northeast Ohio. 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