20130819-NEWS--21-NAT-CCI-CL_-- 8/16/2013 2:43 PM Page 1 FOTOLIA By MICHELLE PARK [email protected] SOMETHING TO t’s a ban that has kept them tight-lipped for decades. But, thanks to a vote last month, hedge funds, private equity SHOUT ABOUT Ifunds and other issuers of certain se- curities soon can advertise their fundraising efforts to the masses. Private equity firms soon can pitch away The ban lifts Sept. 23, and attorney Howard Bobrow expects some funds as ban on their advertising ends Sept. 23 to jump into action that very day. See SHOUT Page 9 “It’s as if the whole 20th century bypassed the fundraising industry. So now, it’s being brought into the present.” Charles Stack, CEO and founder, FlashStarts Inc. 33 SPECIAL SECTION 7 LEGAL AFFAIRS NEWSPAPER Mediation is gaining in popularity as companies Entire contents © 2013 74470 83781 seek to cut legal costs ■ Pages 11-17 by Crain Communications Inc. 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Investments, investment services and insurance: Are Not FDIC Insured - Offer No Bank Guarantee - May Lose Value Are Not Insured By Any Federal Government Agency - Are Not A Deposit Insurance products made available through Fifth Third Insurance Agency, Inc. © Fifth Third Bank 2013. 20130819-NEWS--1-NAT-CCI-CL_-- 8/16/2013 2:39 PM Page 1 $2.00/AUGUST 19 - 25, 2013 Media outlets wage war vs. vulnerable PD start of its new e-edition have giv- TV, newspapers en other media organizations a chance to compete in new ways as see opportunity they cross over into each other’s traditional turf. in daily’s shift to It’s part of what the media in- dustry calls “convergence,” or the digital strategy practice of presenting content that used to be found on a single By JAY MILLER delivery system — whether print, [email protected] broadcasting or digital — over multiple platforms, including They may only be small, early smart phones and social media. skirmishes, but Northeast Ohio Because of their greater interac- media are attacking the region’s tion with news consumers than dominant but evolving daily newspapers over the course of a newspaper on land, over the air day, television stations can use and online. their well-watched news shows to The shifting emphasis of Ad- drive viewers to beefed-up web- vance Publications Inc.’s Cleve- sites as they compete with cleve- land operations — from the print- land.com, now Advance’s flag- ed and home-delivered Plain ship, for readers moving to online Dealer to electronic delivery via from print. cleveland.com — and the rocky See MEDIA Page 18 NFL deal opens door for more at Veritix “We’ve Digital ticketing all sort company’s pact of grown out of FOTOLIA with Lions lessens this By MICHELLE PARK Ticketmaster’s grip space.” [email protected] – Samuel By KEVIN KLEPS Gerace, CEO, Veritix, on the SOMETHING TO t’s a ban that has kept them [email protected] offices his company shares tight-lipped for decades. But, with Bizdom in the Chase thanks to a vote last month, In 2012, as it closed its fifth year Financial Tower hedge funds, private equity in business, the digital ticketing Ifunds and other issuers of certain se- platform of Cleveland-based Ver- was formed in 2008 after Flash SHOUT ABOUT Seats, an electronic ticketing curities soon can advertise their itix was used to sell 17 million tick- fundraising efforts to the masses. ets valued at $901 million. system launched by Cleveland Private equity firms soon can pitch away The ban lifts Sept. 23, and attorney In the eight months that fol- Cavaliers owner Dan Gilbert in Howard Bobrow expects some funds lowed, Veritix made history at the 2006, acquired Vertical Alliance — as ban on their advertising ends Sept. 23 to jump into action that very day. NCAA men’s Final Four basketball will leave its headquarters in See SHOUT Page 9 tournament and joined an even Chase Financial Tower in more exclusive group in the tick- downtown Cleveland for more eting world — a seller of tickets for space at an undetermined down- “It’s as if the whole 20th century bypassed the fundraising industry. So now, an NFL franchise. town location. it’s being brought into the present.” Charles Stack, CEO and founder, FlashStarts Inc. Soon, the company — which See VERITIX Page 6 ARCHITECTURE 33 SPECIAL SECTION 7 LEGAL AFFAIRS THE VIEW: BUSY NEWSPAPER Mediation is gaining in popularity as companies Entire contents © 2013 Northeast Ohio architects are finding 74470 83781 seek to cut legal costs ■ Pages 11-17 by Crain Communications Inc. plenty of work, but much of it is Vol. 34, No. 33 0 PLUS: ADVISER ■ WELLNESS PROGRAMS ■ & MORE outside the region ■ Page 3 20130819-NEWS--2-NAT-CCI-CL_-- 8/16/2013 1:41 PM Page 1 2 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM AUGUST 19 - 25, 2013 COMING NEXT WEEK A NATION OF QUITTERS More Americans are quitting their jobs — and that’s a good sign for the Plotting your next step economy. The government reports that in June, the ratio of “quits per layoffs Crain’s will publish its second and discharges” was 1.4. “Quits” are voluntary separations initiated by 700 W. St. Clair Ave., Suite 310, employees. They tend to rise with an improving economy — it illustrates Cleveland, OH 44113-1230 annual MBA Guide, which people are more confident they can find jobs — and fall with a faltering Phone: (216) 522-1383 breaks down the types of Master economy. Layoffs and discharges, by contrast, represent involuntary Fax: (216) 694-4264 of Business Administration separations. Here’s data on quits for the past six Junes: www.crainscleveland.com Publisher/editorial director: programs available in the Buckeye Month Quits Layoffs/discharges Ratio Brian D. Tucker ([email protected]) State, along with program Associate publisher/editorial: John Campanelli ([email protected]) highlights and contact information June 2013 2,160,000 1,537,000 1.4 Editor: Mark Dodosh ([email protected]) for the schools. June 2012 2,148,000 1,786,000 1.2 Managing editor: Scott Suttell ([email protected]) June 2011 1,864,000 1,774,000 1.1 Sections editor: REGULAR FEATURES Amy Ann Stoessel ([email protected]) June 2010 1,891,000 1,995,000 0.9 Assistant editor: Kevin Kleps ([email protected]) Big Issue .......................8 Going Places ...............10 June 2009 1,742,000 2,135,000 0.8 Sports Classified ....................20 Reporters’ Notebook....21 Senior reporter: June 2008 2,645,000 2,009,000 1.3 Stan Bullard ([email protected]) Editorial ........................8 The Week ....................21 Real estate and construction From the Publisher ........8 What’s New..................21 ■ Source: U.S. Bureau of Labor Statistics; www.bls.gov Reporters: Jay Miller ([email protected]) Government Chuck Soder ([email protected]) Technology Dan Shingler ([email protected]) Energy, steel and automotive Tim Magaw ([email protected]) Health care and education Michelle Park ([email protected]) Finance 25 Rachel Abbey McCafferty ([email protected]) Manufacturing and energy Research editor: SEPT Deborah W. 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