20101129-NEWS--0001-NAT-CCI-CD_-- 11/24/2010 4:27 PM Page 1 ® www.crainsdetroit.com Vol. 26, No. 49 NOVEMBER 29 – DECEMBER 5, 2010 $2 a copy; $59 a year ©Entire contents copyright 2010 by Crain Communications Inc. All rights reserved WSU spinoff: Page 3 Next up in Delphi case: Battenberg defense Algae gene may aid blind RetroSense gears up for tests, wins investor support BY TOM HENDERSON Little-known program brings CRAIN’S DETROIT BUSINESS A gene in blue-green pond algae U.S. biz cross-border cash could help the blind see. That’s what an Ann Arbor-based spinoff of Wayne State University named Ret- DUSTIN WALSH/CRAIN’S DETROIT BUSINESS roSense Therapeutics LLC and its Inside Manuel Moroun says he knows what Canada wants in an international bridge deal: “Detroit,” on Canada’s terms. founder, Sean Ainsworth, are bet- ting on. Q&A: Tower International Pond algae reacts more to its en- vironment than one might imag- CEO sees opportunity ine. Photosensitive cells allow it to across globe, Page 4 detect where the sun is shining on a pond, and it then moves in that Building bridges, direction to convert the light to en- Roundtable: Detroit needs ergy through photosynthesis. That photosensitivity is based more midcareer jobs, on a gene called channel- Pages 12-13 rhodopsin-2, or Chop2 for short. burning bridges Research on small animals at Wayne State University has shown that when Chop2 is transplanted Crain’s List Moroun does both, shapes battle over border crossing into the retina, it converts previ- ously nonphotosensitive retinal BY BILL SHEA bridge project was killed in the him (and against DRIC) in public Largest IT employers, See RetroSense, Page 19 CRAIN’S DETROIT BUSINESS Legislature’s lame-duck session. and behind closed doors in Lans- Page 14 “I don’t like it. This is a new ing and elsewhere. The Detroit Athletic Club is the Matty Moroun,” he said of his Whether his legislative victory scene of plenty of deal making, more public role, during a recent was Pyrrhic remains to be seen, This Just In but members probably were not sit-down interview with Crain’s. because the enabling legislation prepared this year to see Manuel Often described as reclusive, for DRIC is expected to be picked FTC waives waiting period “Matty” Moroun working the din- the 83-year-old Moroun has up in the spring, and Canada has ing room on behalf of his Ambas- shunned publicity for most of his reportedly turned to the U.S. fed- for TechTeam sale sador Bridge. life, rarely granting interviews or eral government for support. The Federal Trade Commis- Even this modestly public ap- engaging in high-profile philan- Moroun opposes the $5.3 billion sion has granted early termi- pearance is new territory for Mo- thropy. U.S.-Canadian span as unneeded nation of the waiting period roun, who for decades has relied But over the past year, he’s and unfair government competi- related to Stefanini Interna- on litigation, campaign donations been forced to seek allies and per- tion to the bridge he bought in and behind-the-scenes lobbying to sonally lobby for support in pub- 1977 as a $30 million stock play tional Holdings Ltd.’s acquisi- TOM HENDERSON/CRAIN’S DETROIT BUSINESS tion of Southfield-based get results. lic as the race to span the river from investor Warren Buffett. He The photosensitive properties of blue- TechTeam Global Inc., mean- But the new tactics, for now at has grown more intense and a se- claims he has a government-sanc- green algae (inset, magnified) could ing the companies can go for- least, have brought victory: Legis- ries of court fights turned sour. tified monopoly on bridge traffic yield gene therapy for the blind, says ward with plans for the sale. lation to advance the proposed De- He’s also sent his wife, Nora, and Sean Ainsworth, founder and CEO of See Moroun, Page 20 The move paves the way for troit River International Crossing son, Matthew, to campaign for RetroSense Therapeutics LLC. Sao Paulo, Brazil-based Ste- fanini’s U.S. subsidiary, Plat- inum Merger Sub Inc., to buy Southfield-based TechTeam for $93.4 million. LTU plans to link entrepreneurs with proven innovators Following the deal first an- nounced Nov. 1, TechTeam BY DUSTIN WALSH from entrepreneurs to C-suite cor- an advisory team that will develop preneurs, small-business owners, (Nasdaq: TEAM) plans to CRAIN’S DETROIT BUSINESS porate leaders, by creating a new the leadership structure and work- venture capitalists, corporate re- merge with Platinum. How- business-to-business consortium ing business model for the consor- search and development depart- ever, it’s not clear if two law- Lawrence Technological University and innovation center. tium and center. The university ments and business support orga- See This Just In, Page 2 is developing a plan to connect The consortium would allow en- plans to work with business incu- nizations to promote economic Southeast Michigan’s innovators, trepreneurs to learn best practices bators, government groups and development. from proven innovators and tap a corporate experts to get it off the Also behind the idea is a linked system of regional re- ground — and pursue additional $146,000 Innovation and Entrepre- sources. The center would serve as funding. neurship Needs Assessment Sur- physical space to provide some lev- The Southfield-based university vey, partially funded through a el of service and meeting space for recently completed the first step, a $70,000 U.S. Department of Com- the consortium. 14-month feasibility study that merce grant, which included input It’s not yet clear when the pro- sought to identify the needs, inter- from more than 1,200 entrepre- ject would open for business, but ests and opportunities for a new neurial stakeholders. NEWSPAPER early planning is under way. regional program. The goal is to Lawrence Tech plans to create boost cooperation between entre- See LTU, Page 17 20101129-NEWS--0002-NAT-CCI-CD_-- 11/24/2010 4:13 PM Page 1 Page 2 CRAIN’S DETROIT BUSINESS November 29, 2010 Michael Duggan, president and ATTENTION, DEALMAKERS CRAIN’S SEEKS 20 IN THEIR The way it was: 2003 CEO, Detroit Medical Center; Stacy THIS JUST IN Involved in a merger or acquisition in Fox, principal, Roxbury Group; Al- 2010? You may be eligible for the 20S NOMINATIONS FOR 2011 lan Gilmour ■ From Page 1 Throughout our 25th-anniversary , interim president, third annual Crain’s M&A Awards. Do you know a 20-something who year, Crain’s will use this space Wayne State University; James Crain’s Detroit Business and the is someone to watch? to look at interesting items from Kokas, owner, Opus One; Robert Fi- suits filed in Oakland County Cir- Detroit chapter of the Association for Crain’s 20 in their 20s awards past issues. cano, Wayne County executive; cuit Court may delay the deal. Corporate Growth will honor program seeks young Platinum plans to purchase all Tim Nicholson, vice president, PVS companies and individuals in the professionals who are making outstanding shares of TechTeam Chemicals Inc.; Nancy Schlichting, following categories: their marks in the region. These Practicing president and CEO, Henry Ford Ⅲ Global for $8.35 per share, which “ Best Deal of the Year: Under entrepreneurs and creative represents a 24 percent premium law. … I’m Health System; and Bishop Edgar $100 million and $100 million or thinkers may not have made their more. Deals must have closed in over TechTeam’s average clos- Vann II, pastor, Second Ebenezer first million dollars, but they’re 2010. living proof that there is work ing stock price over the three- having so much Church. — Sherri Welch Ⅲ Dealmaker of the Year/buyer-seller. under way by young people to month period ended Nov. 1 and a counter the region’s brain drain. 17 percent premium over the fun, I want to do that for a Ⅲ Dealmaker of the Year/adviser: Winners will be profiled in Crain’s closing price of TechTeam’s Tickets still available M&A experts, lenders, CPAs, consultants and attorneys, among 20 in their 20 issue on May 2 stock on Monday, TechTeam good long time. others, are eligible. and honored at a spring awards said. ” for 4th annual D Show Ⅲ Lifetime Achievement: Senior-level event. Stefanini’s offer and with- Tickets for the fourth annual D Reginald Turner, executive who has been involved in Nominations must be received by Show, the Dec. 1 event celebrat- drawal rights are scheduled to Clark Hill PLC significant transactions and has Jan. 14. Visit expire on Dec. 10, unless extend- ing Detroit’s creative industry, made a significant impact on the www.crainsdetroit.com/nominate are still available. ed or earlier terminated. Addressing his plans for the future community. for more information. Filings with the U.S. Securities The event — which recognizes in an April 7, 2003, profile amid Applications for the awards can be Questions? Contact Jennette and Exchange Commission show speculation that he would pursue professional and student cre- found at www.crainsdetroit.com Smith, deputy managing editor, there are two separate share- elected office. Turner, a partner at ative works, primarily in adver- /nominate. The deadline for at [email protected] or holder lawsuits filed in Oakland Clark Hill, resigned last month tising — starts at 6 p.m. with entering is Jan. 14. Winners will be (313)446-1622. Circuit Court Nov. 10 and Nov. from the state Board of Education cocktails and a strolling dinner profiled in the Feb. 28 issue and 16 on the proposed sale.