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April 2006 Issue
How Many Teeth Hath a Horse
T here is good reason this magazine’s Birthday Club has become one of our most popular features. Personal birthdays may be important, but business birthdays, to our readers, are more important. Business owners seem to remember every twist and turn it took to get them to a birthday, whether it was their first or their 25th. There is great pride in starting a business and even more in keeping it going. “Blood, sweat and tears†is a phrase that rolls off the tongues of business owners as easily ... |
On the Move
Congratulations! Your business is growing. You’re winning more clients, hiring new employees and buying new equipment. You’ve done everything you can think of to maximize your office or plant. The only problem is that you cannot possibly squeeze in one more employee or one more piece of office equipment or machinery unless you want a painful visit from the city’s fire marshal. Perhaps there are other reasons your company needs to move: a shrinking or unskilled labor population, changing market loc... |
A City Within a City
A weekend getaway to Cleveland’s University Circle will be at the top of many travelers’ lists in the next ten years, Chris Ronayne predicts. Picture this: a Friday night concert with The Cleveland Orchestra, a Saturday stroll through The Cleveland Museum of Art and maybe a Sunday spent at the Cleveland Botanical Garden before the trek back home. “It would be great if people came to visit for a weekend,†says Ronayne, former Cleveland city planning director, now president of University Circle In... A Healthy Return
At first, it sounds impressive that Northeast Ohio was attracting more than $30 million a year in venture capital investment to grow its bioscience companies. That is until you hear that regions like Minneapolis and St. Paul, Minn., and the Research Triangle of Chapel Hill, Raleigh and Durham, N.C., have landed anywhere from $150 million to $250 million every year since at least 1998. Baiju R. Shah, president and CEO of Cleveland bioscience economic development organization BioEnterprise, was not satisf... All Bets Are Off
When it comes to the future of downtown Cleveland, Dennis Roche has his money on the number three. The president of the Convention & Visitors Bureau of Greater Cleveland is hopeful for a trifecta of major development projects that he says will transform the city: a convention center, casinos and a medical mart. “I’m very optimistic about Cleveland,†Roche says. “A lot of conversations, public and private, that are taking place right now are about these ideas finally growing legs, taking on a for... Baby Steps
Regionalism has been the buzzword among business, government and economic development circles at least since the early 1980s, when Cleveland Tomorrow was formed for the express purpose of helping create major, government-funded regional economic development initiatives, such as CAMP Inc. and the Ohio Aerospace Institute (OAI). More recent efforts throughout Northeast Ohio are proving regionalism is still, and will remain, one of the more flexible and viable economic development strategies. Some of the c... Back to School
American education underwent dramatic reform when the industrial revolution forced an increase from a sixth-grade to a 12th-grade primary education. A similar transformation is happening today and will continue in the next decade. “The knowledge economy demands a college education and constant learning,†says Luis Proenza, president of the University of Akron. The face of higher education in Northeast Ohio mirrors changes in our economy, as we evolve from a manufacturing region to one emerging in cu... Brave New World
There’s a revolution going on in Northeast Ohio and Cathy Panzica is one of its leaders. Founder of the Red Room Revolution, an organization whose mission is to accelerate economic growth in Northeast Ohio through information technology, and a partner in Panzica Investments LLC, Panzica is passionate about technology and its potential to change the face of the regional economy. She is part of an ever-expanding consortium of techies, business leaders, nonprofits, venture funds and corporations that are... Empowering the Region
Wen discussing the development of the Lake Erie shoreline, Ronn Richard envisions 100 350-foot-tall windmills lining the waterfront. One of the region’s visionaries, Richard, president and CEO of The Cleveland Foundation, suggests the answer to Northeast Ohio’s economic woes is in alternative energies. Convincing Fortune 500 companies to return or becoming the next Silicon Valley is unrealistic, he says. “What we need to do is create new industries,†Richard explains. “We have to be No. 1 in a... Gray Matters
Thomas Zenty has one billion reasons why health care is the future of Northeast Ohio. In January, the president and CEO of University Hospitals Health System (UHHS) announced his Vision 2010, which calls for investments of more than $1 billion over five years, including new facilities, an expansion of services at hospitals, additional suburban ambulatory centers and more than $100 million in technological enhancements, such as system-wide electronic health records. “We spent a lot of time and energy g... In the Next 10 Years
Name: George Nemeth Blog: Nemeth's BrewedFreshDaily.com (BFD), launched in 2002, has become the most read, independent Northeast Ohio blog focused on technology, politics and business. More than 1,500 visitors reach his blog every day, its loyal readership encompasses all levels of leadership in the region. IB asked Nemeth to discuss how blog will continue to influence business, politics and the mainstream media (MSM) over the next 10 years and for some of his regular BFD contributors to post thri... Out With the Old
In 1980, more than 43 percent of Lorain County’s workforce was employed by the manufacturing industry. By 1990, that number shrunk to 31 percent, and by 2000, 22 percent. This year, in the former home of two Ford Motor Co. plants, the American Ship Building Co. and a thriving steelmaking operation, less than 20 percent will be employed in the manufacturing industry. “This is a community that has been in deep transformation since I’ve been here,†says Roy Church, president of Lorain County Commun... The Next Decade
Ten years ago was a time of great excitement in Northeast Ohio. We had just come off a year where the long-awaited Rock ‘n’ Roll Hall of Fame and Museum opened, the Cleveland Indians had won its first American League pennant since 1954, and the city was celebrating its 200th birthday. Amidst this, Inside Business, formerly a quarterly section in Cleveland Magazine, published its first stand-alone issue. Because so often this region dwells too much on the past, instead of commemorating the accomplish... |
Big Brother in the Office
When I hear “1984,†I often think of the Van Halen rock classic instead of George Orwell’s dark book about Big Brother. Though almost 60 years old, Orwell’s depressing vision of a totalitarian future is still relevant. I cannot help but think of Big Brother when I drive from my house in Cleveland Heights to my office in Midtown. I pass five, count ‘em five, traffic cameras on my route down Mayfield Road and Euclid and Chester Avenues. Sure, if you obey the law you should not have to worry abou... The Worst Kind of Turnover
The tight labor pool has organizations refocused on a lost art – finding and retaining top-performing employees. From compensation to flexible work schedules to allowing pets in the workplace, organizations are trying just about everything to attract and keep good people. There is no question that the “war for talent†among local businesses, combined with the existing labor supply, has created a scant employment market. And if you look at all the research relative to expected demographic changes, ... |
Nothing Ventured, Nothing Gained
Glengary LLC shares little with Glengarry Glen Ross – David Mamet’s stage and screen classic about corporate corruption and greed – except for a similar name and an all-star cast. Named after Glengary Road in Shaker Heights, the street on which founding partner Stephen Haynes lives, Glengary was founded in 2002 by Haynes and one of the region’s noted turnaround specialists, Tom Tyrrell. The all-star cast of Glengary features some of Northeast Ohio’s most prominent business names, including for... Recipe for Longevity
The old adage about family businesses is the first generation makes it, the second keeps it and the third loses it. But Alyson Winick, whose grandparents opened Schwebel Baking Co. 100 years ago, cannot imagine her family without the business. “Sometimes I really think that if we cut ourselves, flour would pour from our veins,†says Winick, senior vice president and board member. Eight family members work in the business today, including members of the fourth generation of Schwebels. This means the ... The Son Also Rises
It’s a rare sunny day in mid-February, but it can’t be more than 25 degrees outside on the corner of Eagle Avenue and Ontario Street, the entrance to the Cleveland Indians’ executive offices in Jacobs Field. Inside, Paul J. Dolan, president of the Tribe, and son of owner Lawrence J. Dolan, is dressed in gray suit pants, a crisp white shirt and a red power tie, looking very much like his days as an attorney. Named president in 2002, Dolan’s team is about 1,100 miles due south of him in Winter Hav... |
Keeping Diabetes at Bay
When John Fuller went to the doctor for a colonoscopy in 1995, his diagnosis wasn’t quite what he expected to hear. Fuller, 60, a public relations consultant, had diabetes. “I had the colonoscopy and when they did the blood work, they happened to catch it,†he recalls. He knew he was at risk – there was a family history of the disease – but he hadn’t felt any symptoms. Fuller’s story is not uncommon. Nearly 21 million people in the United States have diabetes, yet roughly one third o... |
Mergers Done Right
Experts agree the marketplace for mergers and acquisitions is a seller’s paradise. That means investment bankers, private equity firms, strategic buyers, and even some hedge funds are looking to buy companies. “There are more buyers than sellers in today’s market and that is affecting prices and risk,†says Robert W. Malone, practice group chair for mergers and acquisitions at Buckingham, Doolittle and Burroughs of Akron. “Because the marketplace is strong, prices are higher for sellers, and b... |
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A Modest Proposal
Education experts have numerous theories on how to fix the discipline problems in our public schools: smaller classes, more teachers, more security. Sam Thomas, a senior lecturer in banking and finance at Case Western Reserve University’s Weatherhead School of Management, has a more unusual suggestion: End public school at the 10th grade. That’s right, after a student is done with their sophomore year, they are out of the system. “Privatize the 11th and 12th grade,†Thomas told a stunned crowd a... Boomer Business
This year, the first baby boomers turn 60 years old. A lot of them will be at or near retirement with two incomes, have no dependent children and a lot of discretionary dollars. That’s music to Joel Libava’s ears. He sees an enormous opportunity in Northeast Ohio for franchise operations targeting this senior market. “Service is the hottest franchising trend in the country,†says Libava, who was downsized from corporate America in 2000, and joined his father’s company, Franchise Selection Spec... Broadband Broadcasters
Bowlers and bowler wannabes across the globe are just one click away from stepping up their game with former U.S. Olympic bowling coach Fred Borden. With www.mybowlingcoach.com , which went live in March, rollers can learn everything they ever wanted to know about bowling – from the correct stance and grip to the proper use of oils for the lanes. Recognized by some as the best bowling coach in the United States, Borden joined iQ Digital, an Akron tech company that specializes in Internet television, t... Brother, Can You Spare a Dime?
Twenty- and 30-something Americans are often depicted by the media as being irresponsible and lazy – living at home off of their parents for as long as they can, while sinking fast into credit card debt with their frivolous spending habits. But Tamara Draut, a 30-something director of the economic opportunity program at New York-based think tank/advocacy group Demos, wanted to set the record straight. “I thought it was about time somebody took a different look at why young people are having a harder... New Dean on the Block
Eager to steer the already excellent Boler School of Business to higher levels of excellence is LuÃs MarÃa R. Calingo, Ph.D., its newly appointed dean. Calingo, who officially begins on Aug. 1, views John Carroll University’s (JCU) John M. and Mary Jo Boler School of Business as a resource that supplies the business community with its future leaders, preparing its students to be ethical, as well as technical leaders. And in turn, “The business community should view the school as a resource, an edu... |
Changing Gears
Mike Miller remembers standing in the parking lot and thinking, “What am I going to do next?†after being let go from Cleveland-based Interior Steel Equipment Co. when it was relocated to Mississippi in 1991. But today, Miller, president of IMAX Industries Inc., is singing quite a different tune – one he never thought possible. Working in tight quarters in his Painesville office, Miller’s business prospects are looking even brighter these days. Now in contractual agreements with Pemery Corp., a ... |
Fearless Fellow
Homegrown: A native of Solon, Thomas received both her bachelor’s and MBA degrees from Cleveland State University. For 10 years she worked as a systems analyst at NASA. In Demand: Though she thought about moving to Washington, D.C., Thomas turned down a job offer from to accept the Cleveland Executive Fellowship, a program funded by The Cleveland Foundation and Coro, a national nonpartisan organization dedicated to strengthening the democratic structure of the government. Out of a pool of ... Keeping Diabetes at Bay
When John Fuller went to the doctor for a colonoscopy in 1995, his diagnosis wasn’t quite what he expected to hear. Fuller, 60, a public relations consultant, had diabetes. “I had the colonoscopy and when they did the blood work, they happened to catch it,†he recalls. He knew he was at risk – there was a family history of the disease – but he hadn’t felt any symptoms. Fuller’s story is not uncommon. Nearly 21 million people in the United States have diabetes, yet roughly one third o... Mergers Done Right
Experts agree the marketplace for mergers and acquisitions is a seller’s paradise. That means investment bankers, private equity firms, strategic buyers, and even some hedge funds are looking to buy companies. “There are more buyers than sellers in today’s market and that is affecting prices and risk,†says Robert W. Malone, practice group chair for mergers and acquisitions at Buckingham, Doolittle and Burroughs of Akron. “Because the marketplace is strong, prices are higher for sellers, and b... Northern Exposure
Though separated by the largest body of fresh water in the world, Northeast Ohio and Canada continue to find ways over and around the Great Lakes to do a high volume of business. “It’s the most important trade relationship that we have,†says Henry T. King Jr., U.S. director, Canada/U.S. Law Institute, and professor of law at Case Western Reserve University. Canada is Ohio’s largest export market, with about 50 percent of all goods manufactured in the state were sent to our northern neighbor in ... On the Move
Congratulations! Your business is growing. You’re winning more clients, hiring new employees and buying new equipment. You’ve done everything you can think of to maximize your office or plant. The only problem is that you cannot possibly squeeze in one more employee or one more piece of office equipment or machinery unless you want a painful visit from the city’s fire marshal. Perhaps there are other reasons your company needs to move: a shrinking or unskilled labor population, changing market loc... |
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