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Oldmanladyluck

Cleveland: General Business & Economic News

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I could not find an appropriate thread for this story, so I decided to start a new thread.  Mods, don't tase me.

 

Better-paying jobs gaining ground in Northeast Ohio

by Tom Breckenridge

Thursday January 24, 2008, 11:30 AM

FACTORY JOBS ARE DISAPPEARING ...

 

... BUT MANY NEW JOBS PAY MORE  [ftp][/ftp]

 

 

 

Many once-powerful factories in Northeast Ohio still sit silent, their burly workers gone years ago. But a future built on higher-paying jobs like health care and education is emerging.

 

The latest evidence will be released today: a study concluding that higher-paying jobs actually are growing faster than lower-paying ones...

 

http://blog.cleveland.com/business/2008/01/24FGJOBS.pdf

 

 

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Well since I started this ruckus:

 

http://www.crainscleveland.com/article/20080213/FREE/926066025/1099/newsletter01

 

Beachwood firm may snare Delphi plant

Resilience Capital Partners LLC

Delphi Corp.

 

By JEFF STACKLIN

 

1:16 pm, February 13, 2008

 

Beachwood private equity firm Resilience Capital Partners appears to be — again — the high bidder for Delphi Corp.’s bearings plant just outside Sandusky.

 

Earlier this week, an investment group led by Baytree Investors Inc. of Chicago bid $75 million to buy the 1 million-square-foot plant in Perkins Township. But that bid was withdrawn today, according to Mark Litten, executive director of the Erie County Economic Development Corp. in Sandusky.

 

In January, Resilience Capital bid $44.2 million to buy Delphi’s bearing business and the plant in Perkins Township. Officials at Resilience Capital did not respond to a phone message left this morning.

 

Mr. Litten says although he had more dealings with representatives of Baytree leading up to its bid, he remains optimistic about the offer by Resilience Capital.

 

“We’re hopeful that this plant will be sold and its buyer will continue to operate it, and we’re hopeful that the work force will stay intact,” Mr. Litten said.

 

The Delphi plant, which has nearly 1,100 employees, is Erie County’s second-largest manufacturing operation behind the Automotive Component Holdings LLC plant, formerly a Ford Motor Co. plant near Sandusky.

 

Delphi filed for Bankruptcy Court protection in 2006. The proceedings are taking place in the U.S. Bankruptcy Court, Southern District of New York.

 

Representatives of Delphi and Baytree did not respond to phone messages left earlier today.

 

EDIT:  I know this is nitpicky, but since this category is so broad, would it be possible to rename this thread "CLEVELAND: Manufacturing" or something more narrowed down?

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Another news story...from FOX

 

CLEVELAND, Feb 12, 2008 (BUSINESS WIRE) -- Cleveland-Cliffs Inc (NYSE:CLF) today announced that Chief Financial Officer Laurie Brlas is scheduled to present at the Morgan Stanley 2008 Global Basic Materials Conference being held at The Crowne Plaza Times Square in New York City on Tuesday, Feb. 19, 2008, at 11:20 a.m. ET. The presentation will highlight the Company's rapidly expanding international iron-ore and coal operations, and will address its strategy and plans for the future.

 

Interested parties can access the live audio webcast of the presentation and accompanying slides on the Investor Relations Overview page on Cleveland-Cliffs' website: www.cleveland-cliffs.com. Those who wish to listen to the live webcast are encouraged to visit Cliffs' website at least 15 minutes prior to the beginning of the scheduled presentation, or 11:05 a.m. Eastern, to allow enough time to complete the registration process. A replay of the webcast will be available on Cliffs' website following the presentation.

 

To be added to Cleveland-Cliffs' e-mail distribution list, please click on the link below:

 

http://www.cpg-llc.com/clearsite/clf/emailoptin.html

 

Cleveland-Cliffs Inc, headquartered in Cleveland, Ohio, is an international mining company, the largest producer of iron ore pellets in North America and a major supplier of metallurgical coal to the global steelmaking industry. The Company operates six iron ore mines in Michigan, Minnesota and Eastern Canada, and three coking coal mines in West Virginia and Alabama. Cliffs also owns 80 percent of Portman Limited, a large iron ore mining company in Australia, serving the Asian iron ore markets with direct-shipping fines and lump ore. In addition, the Company has a 30 percent interest in the Amapa Project, a Brazilian iron ore project, and a 45 percent economic interest in the Sonoma Project, an Australian coking and thermal coal project.

 

This news release contains predictive statements that are intended to be made as "forward-looking" within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. Although the Company believes that its forward-looking statements are based on reasonable assumptions, such statements are subject to risk and uncertainties.

 

Actual results may differ materially from such statements for a variety of reasons, including: changes in the sales mix; the impact of other price-adjustment factors on the Company's North American sales contracts; changes in demand for iron ore pellets by North American integrated steel producers, or changes in Asian iron ore demand due to changes in steel utilization rates, operational factors, electric furnace production or imports into the United States and Canada of semi-finished steel or pig iron; availability of capital equipment and component parts; availability of float capacity on the Great Lakes; changes in the financial condition of the Company's partners and/or customers; market forces that negatively impact the domestic and international metallurgical coal markets; changes in global demand for metallurgical coal by integrated steel producers due to changes in steel utilization rates; rejection of major contracts and/or venture agreements by customers and/or participants under provisions of the U.S. Bankruptcy Code or similar statutes in other countries; the impact of consolidation in the steel industry; events or circumstances that could impair or adversely impact the viability of a mine and the carrying value of associated assets; inability to achieve expected production levels; failure to receive or maintain required environmental permits; problems with productivity, labor disputes, weather conditions, fluctuations in ore grade, tons mined, changes in cost factors including energy costs, transportation and employee benefit costs; and the effect of these various risks on the Company's future cash flows, debt levels, liquidity and financial position.

 

http://www.foxbusiness.com/markets/industries/industrials/article/clevelandcliffs-present-morgan-stanley-2008-global-basic-materials-conference_476941_6.html

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Well, we lost another HQ.  I'm surprised that they only had 50 corporate jobs here.

 

After 154 years, Oglebay Norton leaving Cleveland

Posted by Alison Grant February 14, 2008 10:17AM

Categories: Breaking News

The Oglebay Norton Co. will be closing operations in Cleveland after 154 years.

 

Oglebay's acquisition by a subsidiary of Belgian's Carmeuse Group was finalized Wednesday night. Carmuese announced that it would move 50 jobs from Oglebay's Cleveland headquarters to Pittsburgh. Carmeuse Lime & Stone has its headquarters there.

 

More at:

http://blog.cleveland.com/business/2008/02/after_154_years_oglebay_norton.html

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it's good to be thinking regionally... but the ideas expressed so far seem to be rather vague... I'm not sure how much these two cities can help each other... especially if their respective suburbs aren't on board

 

link:http://blog.cleveland.com/metro/2008/02/jackson_wants_to_work_on_devel.html

 

Jackson wants to work on development opportunities with Youngstown

 

Posted by Henry Gomez February 28, 2008 13:00PM

Categories: Breaking News

 

Cleveland is pursuing joint economic development opportunities with Youngstown, a fellow Rust Belt city 74 miles to the southeast, Mayor Frank Jackson was expected to announce this afternoon.

 

In his annual State of the City address at the Crowne Plaza Hotel downtown, Jackson was planning to stress the importance of regionalism. He was to point to a new tax-sharing deal with Avon, the West Side suburb slated to receive a new Cleveland Clinic facility and Interstate 90 interchange...

 

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Team NEO's new emphasis lures businesses to region

Posted by Tom Breckenridge March 24, 2008 20:47PM

Categories: Economic development

A new focus on luring business to Northeast Ohio seems to be paying off.

 

Team NEO, the region's top business-attraction group, helped land 10 projects and $46 million in new payroll last year, far exceeding its goals.

 

More at http://blog.cleveland.com/business/2008/03/_a_new_focus_on.html

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Grant will help train local workers for health-care jobs

Posted by Joan Mazzolini April 23, 2008 15:23PM

Categories: Breaking News, Business Impact

 

A $2.5 million grant from the government will help train more than 800 area students and workers for jobs in the growing health-care field.

 

The Department of Labor grant, which will be allocated over three years, will financially help students to become physician assistants, physical and occupational therapy assistants, nursing assistants as well as trained to work with medical records and health information management.

 

More at

http://blog.cleveland.com/metro/2008/04/grant_will_help_train_local_wo.html

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Continental Airlines tells employees it won't seek merger

By DAVID KOENIG, AP Business Writer 1 hour, 20 minutes ago

 

DALLAS - Continental Airlines Inc. said Sunday it would not pursue a combination with another carrier right away, a surprising move after weeks of growing speculation that it would join with United Airlines to create the world's biggest airline.

 

http://news.yahoo.com/s/ap/20080427/ap_on_bi_ge/continental_no_merger

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Chase closing Cleveland home-equity operation, cutting 132 jobs

Posted by Teresa Dixon Murray May 15, 2008 15:41PM

Categories: Banks, Breaking News

 

JPMorgan Chase & Co. said Thursday said it is eliminating 132 jobs at its home-equity processing center in Cleveland.

 

About half the employees at the downtown office in Tower City will lose their jobs in 60 days, and then get severance packages, said Chase spokeswoman Mary Kay Bean. Most of the rest will remain through Oct. 1. About 12 to 15 employees are expected to be reassigned to full-time positions in other divisions. Employees were told today which category they fit.

 

More at cleveland.com http://blog.cleveland.com/business/2008/05/chase_closing_cleveland_homeeq.html

 

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From cleveland.com

 

CITY DEVELOPMENT

CLEVELAND DEVELOPMENT

 

Our ambassador to the world

Monday, June 09, 2008

Robert L. Smith

Plain Dealer Reporter

San Jose, Costa Rica -- From mountain farms so high and misty that Costa Ricans call them "cloud forests" come the coffee beans that Walter Casas pours into his roasters in the valley below.

 

At the end of a rainy afternoon, he stooped to sip spoonfuls of steaming coffee from glass after glass, testing the day's brew.

 

More at cleveland.com http://www.cleveland.com/printer/printer.ssf?/base/cuyahoga/1213000235267410.xml&coll=2

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Cleveland Data Center Provider BlueBridge Teams Up with Israel's Premier IT Hosting Provider, Med-1

 

lueBridge Networks of Cleveland, Ohio and Med-1 of Tel-Aviv, Israel, team up to provide reciprocal Data Center Services for firms who conduct business in both Ohio and Israel.

Our collaboration with one of Israel's leading technology pioneers sets the stage to strengthen economic development opportunities for Northeast Ohio, for BlueBridge Networks, and Med-1. We are very please to have them as a partner in this endeavor.

 

(PRWEB) June 9, 2008 -- BlueBridge Networks of Cleveland, Ohio and Med-1 of Tel-Aviv, Israel, will team up to provide reciprocal Data Center Services for firms who conduct business in both Ohio and Israel.

 

BlueBridge Networks is the leading provider of Data Center Services in Cleveland, Ohio where it owns and operates state-of-the-art collocation data centers and provides service to a number of the region's most prestigious institutions. Med-1 is the leading supplier of IT infrastructure outsourcing and data center hosting solutions in the Israeli market. Med-1 pioneered one of the first private submarine cables in the world, and later built a robust fiber optics submarine network (MedNautilus) connecting Israel to various European countries.

 

"We are very happy to cooperate with BlueBridge. BlueBridge Networks, in its state-of-the-art data centers, is able to provide value added services to our customers and other Israeli companies based in the area. This cooperation between BlueBridge Networks and Med-1 provides the best-of-breed data center solutions for our customers, based on the facilities, knowledge, and experience that the companies have," said Eran Barak, CEO of Med-1.

 

Neil Adelman, Chief executive Officer of BlueBridge Networks commented, "Our collaboration with one of Israel's leading technology pioneers sets the stage to strengthen economic development opportunities for Northeast Ohio, for BlueBridge Networks, and Med-1. We are very please to have them as a partner in this endeavor."

 

Howard Gudell, a partner with SGI Global Advisors, the consulting firm that brought 15 of Israel's top IT companies to Cleveland last March to meet with local banks, insurers and IT integrators including BlueBridge, said, "this is a perfect example of how Northeast Ohio can accelerate economic development through international partnering and cooperation. Israel is one of the most advanced countries in the world offering innovative technologies that can make locally companies more globally competitive. We're excited over this emerging partnership between BlueBridge and Med-1 and look forward to more business development coming out of the recent mission."

 

David Silk, Partner with SGI also stated, "When you can introduce two world class companies such as BlueBridge and Med-1 to each other, you've got a winning combination that's good not just for the partners, but for Northeast Ohio as well. It's a win-win situation for everyone. We anticipate more such business opportunities coming about as a result of the success of this mission," Silk said.

 

About BlueBridge Networks, LLC

BlueBridge Networks, LLC, headquartered in Cleveland, Ohio is a leading provider of SAS 70 and PCI compliant Data Center Services, Managed Security, Managed Firewall, Managed Storage, and Dedicated Internet Access. For more information visit its website at http://www.bluebridgenetworks.com, or contact Media Relations at (216) 621-2583, ext. 2221.

 

About Med-1

Med-1, headquartered in Tel-Aviv, Israel, is a leading supplier of IT infrastructure outsourcing and collocation / IT Room hosting solutions in the Israeli market. Med-1 provides IT infrastructure outsourcing for some of the largest companies in Israel from a diverse range markets - communications, financial, security & defense, industrial etc. Med-1 specializes in establishing and operating large and advanced Colocation / Data Centers. The servers and switches of many of the largest companies in Israel are hosted in these facilities. MED-1 has been awarded the exacting ISO-9001:2000 standard label and the title of Ministry of Defense licensed supplier. For more information visit its website at http://www.med-1.com or telephone +972-09-747-6000.

 

About SGI Global Business Advisors

SGI is an economic development consulting firm with an international clientele that develops and implements unique economic development legacy projects for public and private clients focusing on overseas business cooperation and attraction. For more information visit its website at www.sgiglobal.com

 

http://www.prweb.com/releases/cleveland_datacenter/cleveland_data_center/prweb1002894.htm

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I've been on hand to witness Mr. Delgado switch from English to Russian to Spanish in about half the time it's taken to write this sentence...he an incredibly driven, astute, and intelligent booster of Cleveland and we are IMMENSELY lucky to have him.  As the article mentions, he's had a huge impact on the town in the short time that he's been here, and he's earned the respect of the so-called "movers and shakers." 

 

It's sooo frustrating to see such a newbie to Cleveland "get it" while still so many of us clearly don't.  While at times its a bit humorous that Clevelanders have such a complex about their hometown, I think this negativism always has potential to drive talented people like Mr. Delgado away.  Let's hope he keeps the faith in spite of us. 

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I read this in the WSJ today. Cleveland is finally on a good list for once.

 

The 10 largest banking centers in the U.S. based on current assets (in blns.):

 

1. New York $4,059.6

 

2. Charlotte $2,545.6

 

3. San Francisco $665.9

 

4. Seattle $331.4

 

5. Cleveland $267.0

 

6. Minneapolis $241.8

 

7. Calabasas, Calif. $200.5

 

8. Atlanta $180.7

 

9. Boston $162.2

 

10. McLean, Va. $152.3

 

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(I thought this was a very insightful assessment of the economic situation of the Midwest. Richard Longworth has some great criticisms for about the first half, then Doug Oplinger discusses what the region is doing to progress things forward. I think, especially, Richard Longworth is worth listening to. It's time to move the region as a WHOLE forward.)

 

http://www.wcpn.org/index.php/WCPN/soi/12394/

 

The Sound of Ideas®:

Monday, June 23, 2008

Caught in the Middle

 

Guests:

Richard Longworth, a fellow at the Chicago Council on Global Affairs

Doug Oplinger, managing editor, Akron Beacon Journal

 

A former reporter for the Chicago Tribune who spent years abroad getting a first-hand look at global competition takes a tour of the midwest and what he finds isn't pretty. Richard Longworth grew up in the midwest, but cuts the region no slack when comparing it to other parts of the world. In his new book Caught in the Middle, Longworth says to survive the region must recruit low-wage immigrants, and accept that trade protection is a thing of the past.

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Summa among top 50

U.S. News designates Akron hospital 45th for orthopedics. Cleveland facilities also fare well

 

By Cheryl Powell

Beacon Journal medical writer

 

 

Published on Friday, Jul 11, 2008

 

An Akron hospital has a leg up on others nationwide when it comes to fixing bones and replacing hips and knees.

 

For the 11th consecutive year, Summa Health System is ranked among the top 50 hospitals nationwide for orthopedic care by U.S. News & Report.

 

Summa ranked 45th in orthopedics in the listing, which is available online today at http://www.usnews.com/besthospitals.

 

 

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Cleveland hospitals rocked the house! This is great PR for Cleveland! More research and development dollars, as well as jobs are on the way.

 

Congratulations to Akron's Summa for ranking high and on the 100 million dollar joint venture with Crystal Clinic. I am really impressed with all of the Downtown Akron Developments and the overall progress of The Akron Area, as a whole.

 

Northeast Ohio is still on the map!

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By reading the PD you would think the hospitals in this region didn't make the list.

 

 

 

 

Do U.S. News & World Report hospital ratings serve consumers?

Posted by Harlan Spector July 10, 2008 23:59PM

Categories: Business Impact, Harlan Spector, Impact

 

Graphic: Clinic makes magazine's honor roll (pdf).The yearly release of U.S. News & World Report ratings of the nation's best hospitals is good for hospitals like the Cleveland Clinic.

The 2008 edition again lists the Clinic as one of the top-ranked hospitals (No. 4), and as the nation's No. 1 heart hospital for the 14th straight year. University Hospitals Case Medical Center and Summa Health System of Akron were the only other hospitals in the region to appear in the ratings.

 

But the annual publication, due to hit newsstands Monday, also stirs debate about whether the popular rankings are good for consumers.

 

The U.S. News rankings of 170 hospitals carry a lot of weight, but they favor large academic centers and lean heavily on reputation - not necessarily the best available quality measures.

 

 

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It's a study that found something good to say about something associated with NEO.  Of course leading, err...I mean probing, questions must be asked (and left unanswered by any hard evidence).

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I trust some of the ratings but I don't give others as much credibility because there are too many things to consider. What I mean is: If I had a heart condition, I would definitely want to be treated at the number one rated heart hospital because I'm sure that Patient Survival Rates were strongly considered. There is no question about that, in my mind. On the other hand, there are too many variables to be considered in determining which hospital is the best, overall. In many cases, it would be a matter of personal preference or opinion. Different things are more of a priority for different people. What's most important is subjective. I may think hospital A is best because of how well they do this and you may think hospital B is best because of how well they do that. When considering an enormous amount of different types of data, it is difficult to determine how much weight to give specific types of data. It is also difficult to determine which types of data should or should not be considered.

 

I find it difficult to understand why Children's of Akron didn't make the overall top 50 list. They have the number one Burn Unit in the world and are the first hospital to grow human skin. Akron General is rated number 1 in Ear, Nose and Throat Advanced Technologies and has had the number 1 Fitness and Wellness center for 14 straight years. I thought they would make the top 50 overall list, as well. Like I said, I don't give the overall list much credibility.

 

All in all, I am proud of our area hospitals and this will mean more Research and Development Dollars, Construction, Jobs and a continued increase in the care for our residents. This is great PR for the area and quality health care is a major draw for companies looking to relocate.

 

Funny how I still call it our area when I currently live in North Carolina. Ohio will always be my home and I plan to move back ASAP. Their are good points about this area, but it doesn't have that urban flavor that Northeast Ohio has. I can't take it much longer.

 

 

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US news ratings are based primarily off of three factors

 

1) Medicare Statistics (ergo if you are a children's hospital, there is no data).

 

2) Technical Components of the hospital. I.e. Having a gamma knife or a CPOE

 

3) Straight up doctor survey. So if Dr. Pete at Firelands Regional thinks the Cleveland Clinic is great at Heart.....

 

Those are from last year, and US news really doesn't change much year to year. As you can See Master, Akron will probably lose a lot of point from poor recognition and the fact that its overshadowed to the North.

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Well, Cleveland Cliffs has just catapulted itself into a Fortune 500 company.

 

Cleveland-Cliffs buying coal producer for more than $9 billion

Posted by Associated Press July 16, 2008 06:55AM

Categories: Breaking News, Manufacturing

Updated 9:05 a.m.

 

Iron and coal miner Cleveland-Cliffs Inc. said today it will buy coal producer Alpha Natural Resources Inc. in a move to boost its role as a supplier to the global steel industry.

 

The boards of both Cleveland-Cliffs and Abingdon, Va.-based Alpha Natural have approved the deal, in which Alpha shareholders will receive 0.95 Cleveland-Cliffs shares ($105.89 based on the stock's Tuesday closing price) and $22.23 in cash for each share held.

 

More at:

http://blog.cleveland.com/business/2008/07/clevelandcliffs_to_buy_alpha_f.html

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According to the story in Crain's, they would have 2008 combined revenue of 6.5 billion and estimated 2009 revenue of 10 billion, which would indeed put them in the fortune 500  :clap:(currently the low end of the 500 is around 4.62 billion)

 

http://www.crainscleveland.com/article/20080716/FREE/959643602/1022/breaking

"Upon completion of the deal, Cliffs Natural Resources would have estimated combined pro forma 2008 revenue of nearly $6.5 billion and EBITDA (earnings before interest, taxes, depreciation and amortization) of $1.9 billion. The company’s estimated 2009 revenue would reach $10 billion with estimated EBITDA of $4.7 billion."

 

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Hospital breathes life into biomed corridor

Ribbon-cutting for specialty hospital at former Taylor Pontiac site on East Market Street

 

By Cheryl Powell

Beacon Journal staff writer

 

POSTED: 03:10 p.m. EDT, Jul 23, 2008

 

A new specialty hospital for critically ill patients is bringing life to the city of Akron's efforts to boost medical-related economic development.

 

Akron Mayor Don Plusquellic joined leaders of a national specialty hospital chain and Akron General and Summa health systems on today at a ribbon-cutting ceremony for the city's newest hospital: a 60-bed, jointly owned facility for patients who require hospital stays averaging 25 days or longer.

 

 

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As mentioned in the 6/9/08 article (above), anyone know if George Delgado is still on for a November mission to Stuttgart, Germany in which he has lined up representatives of advanced-energy companies looking for an American beachhead?

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Sherwood Valve moving jobs to Cleveland

Posted by Michelle Jarboe August 12, 2008 15:24PM

Categories: Breaking News, Manufacturing

 

CLEVELAND -- A plant closing in New York will send 10 to 20 jobs to Cleveland.

 

Sherwood Valve LLC, a valve and fitting company, will shut down in Niagara Falls and shift jobs and equipment to Cleveland and Washington, Pa. The company is consolidating its manufacturing and assembly operations to raise efficiency and cut waste, energy use and transportation costs.

 

More at

http://blog.cleveland.com/business/2008/08/sherwood_valve_moving_jobs_to.html

 

 

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