Posted October 6, 200420 yr Filling a void Dayton searches for ways to overcome loss of strong local public companies Brian Womack DBJ Senior Reporter It's hardly been easy for the Dayton-area economy the past couple of years. Many of the companies that for years served as pillars of the business community have crumbled or left town. In the past two years, three of Dayton's top publicly traded companies have filed for bankruptcy, another three sold pieces of their companies or were gobbled up by others, and three more companies are struggling and have seen major leadership changes. Since 1999, the Dayton area has lost seven of its 20 locally based public companies to closure, merger or going private. Economic development officials said tough times at large companies mean tougher times for the rest of the area's businesses and a general drag on the economy. However, experts said Dayton -- which some contend is facing the same challenges as other Midwest cities -- can overcome these challenges by finding new ways to build emerging companies that may be the future pillars of the economy. Full article at http://dayton.bizjournals.com/dayton/stories/2004/10/04/story1.html
October 6, 200420 yr Author Companies have blamed a bad economy, changing industries and shifts in corporate strategies. But whatever the causes, there has been a string of major shakeups at some of Dayton's biggest corporate names. Here are a few examples: Mead Corp. Moto Photo Inc. MCSi Inc. Elder-Beerman Stores Corp. Huffy Corp. DT Industries Inc. Standard Register Co. Reynolds and Reynolds Co.
October 6, 200420 yr Yes, Dayton has had a very tough time. Going back in time there were many more losses. For instance, Dayton Tire & Rubber Co. was once a big employer, but was sold to Firestone and they closed the big plant down. I guess Dayco Corp. is still headquartered in Dayton. It was originally part of Dayton Tire. Frigidaire, McCall's Printing etc. etc.--all gone with the wind. It seems to me the industrial midwest has suffered more than the old South did.
October 6, 200420 yr Dayco is still here as a HQ. They are in that little high-rise by the Dayton Mall, next to the interstate. Huffy is near the mall, in Miamisburg, off of Byers Road. Very nondescript. I didn't know Standard Register and MotoPhoto where having such problems. Although NCR is still in town as a HQ, their shutdown of most of their operations here in the early '70s was a very major blow, or so I've been told. One of the things that I think makes Cincinnati and Columbus fairly healthy economys is they are not dominated by one industry or a few large firms (well, maybe state government for Columbus, but i wonder if its that big a player in their local economy). The Dayton chamber of commerce person has a point. It probably IS better to have a large group of healthy and growing small to mid size buisnesses that are generating employment and turning a profit than having two or three fortune 500 HQs....
October 20, 200420 yr DAYTON, Ohio - Bicycle maker Huffy Corp. said Wednesday it filed for Chapter 11 bankruptcy protection in the wake of widening losses. Huffy cited liquidity issues and losses associated with some Canadian operations among the reasons it needs protection from creditors as it seeks to reorganize. ...
October 20, 200420 yr Author Being from Celina, I really have no love for Huffy. While I’m sure it was a move that Huffy had to make to remain competitive, I saw what many of my friends’ parents had to go through. So it is now hard for me to be empathetic towards them now that they have fallen on hard times.
October 21, 200420 yr Hmm..sort of interesting...the increased cost of regulation hurt them (environmental cleanup and financial reporting requirements)? And the "Canadian operations?"
October 21, 200420 yr To be honest Huffy was the laughing stock of bikes growing up. I never knew they were a Dayton company even after moving to Ohio. The problem is there is no money in discount bikes. They are selling them for a profit of pennies. Plus they get no respect. Look what happened to Mongoose. Mongoose were some of the most respected bikes until Pacific bought them and started selling them at Toys R Us, Wal Suck, etc... They are doing the same with GT. Trek, Giant, Haro, Cannondale are now the respected brands and look how much they go for...
November 16, 200420 yr Dayton, Ohio - NCR's worldwide preeminence began in Dayton, Ohio, where it has been a part of the city's history since 1884. First known as National Cash Register, it made significant contributions to the area's growth and prosperity. Today, NCR claims Dayton as its world headquarters. It's no small wonder that NCR flourished in Dayton. Home to the Wright Brothers, Dayton has long been a place of creativity and innovation, and is now a center of high technology, research and information services. NCR is a leading global IT business solutions company with world-class offerings in the areas of financial self-service, store automation, business consumables and IT support services. NCR Corporation 1700 South Patterson Blvd. Dayton, OH 45479 USA NCR at a Glance (2003 GAAP figures) President and CEO: Mark Hurd 2003 Revenues $5.598 billion Net Income $58 million Net Income Per Share $0.61 Weighted Average Shares Outstanding* 95.9 million Cash and Short-Term Investments $689 million Debt $310 million Stock Exchange Listing and Symbol NYSE: NCR Number of Employees 29,000 Divisions: -Teradata Solution Group, Dayton, Ohio, U.S. -Retail Solutions Group, Atlanta, Georgia, U.S. -Financial Solutions Group, Dayton, Ohio, U.S. -Worldwide Customer Services Group, Dayton, Ohio, U.S. -Systemedia Group, Dayton, Ohio, U.S. NCR History Timeline 1884 - John H. Patterson founded the National Cash Register Company, maker of the first mechanical cash registers. 1906 - Charles F. Kettering designed the first cash register powered by an electric motor. 1952 - NCR acquired Computer Research Corporation (CRC), of Hawthorne, California, which produced a line of digital computers with applications in aviation. 1953 - NCR established the Electronics Division to continue to pursue electronic applications for business machines. 1974 - Company changed its name to NCR Corporation. 1982 - The first NCR Tower supermicrocomputer system was launched, establishing NCR as a pioneer in bringing industry standards and open systems architecture to the computer market. 1991 - NCR acquired by AT&T. 1991 - NCR purchased Teradata Corporation, acquiring its advanced and unique commercial parallel processing technology. NCR Teradata becomes the world's most proven and powerful database for data warehousing. 1994 - NCR name changed to AT&T Global Information Solutions (GIS). 1995 - AT&T announced spin-off of AT&T GIS by the end of 1996. 1996 - AT&T GIS changed its name back to NCR Corporation in anticipation of being spun-off to AT&T shareholders by January 1997, as an independent, publicly-traded company. 1997 - Signaling its evolution from a hardware-only company to a full solutions provider, NCR purchased Compris Technologies, Inc., a leading provider of store automation and management software for the food-service industry, and Dataworks, a company that develops check-processing software. 1998 - NCR finalized the transfer and sale of their computer hardware manufacturing assets to Solectron, confirming NCR's commitment to concentrate on the market-differentiated software and services components of their solutions portfolios. 2000 - NCR acquired CRM provider Ceres Integrated Solutions and services company 4Front Technologies, deepening NCR's solutions offerings in key markets. 2003 - Mark Hurd appointed CEO of NCR. NCR Corporate Website http://www.ncr.com/index.htm
November 25, 200420 yr fyi - the first ncr retail shop building is very sharp looking and still exists and thrives on atlantic avenue in downtown brooklyn. it's now an art gallery and reception hall. i'll get some photos for you up when i get another digital camera (soon).
February 25, 200520 yr Author UPS to close Dayton hub Center to remain in full operation until mid-2006; 1,400 will lose jobs By Timothy R. Gaffney and Jim Bebbington Dayton Daily News DAYTON | About 1,400 people will lose their jobs next year when United Parcel Service closes its freight hub at Dayton International Airport. The announcement comes barely two months after UPS closed a deal to buy Menlo Worldwide Forwarding from CNF Inc. Spokesman Norman Black said UPS plans to keep the hub in full operation until mid-2006. It will offer workers severance based on years of service and position in the company and will offer career counseling and assistance, he said. Black added the company plans to build a new heavy freight hub near an existing UPS package hub in one of six cities — Dallas; Philadelphia; Ontario, Calif.; Rockford, Ill.; Columbia, S.C., or Hartford, Conn. UPS' main air freight hub is in Louisville, Ky. More at http://www.daytondailynews.com
February 25, 200520 yr What are Dayton politicians doing to keep companies? Any incentives? Anything?
February 25, 200520 yr Author Pretty much the same things that every other city is doing--especially every other city in Ohio. UPS had absolutely no intention of keeping this facility open when they bought Menlo. If they won't even meet with the city leaders, there's not much the city can do.
February 25, 200520 yr Black added the company plans to build a new heavy freight hub near an existing UPS package hub in one of six cities — Dallas; Philadelphia; Ontario, Calif.; Rockford, Ill.; Columbia, S.C., or Hartford, Conn. UPS' main air freight hub is in Louisville, Ky. ...interesting that UPS is not going to be building in Louisville. The UPS hub in Louisville has had a big impact on that city. First was the airport expansion, which forced road realignments and the removal/relocation of entire suburbs due to flight path/noise considerations. Second was the job boost from the hub itself (and aircraft maintenance facilities) Third was the secondary non-UPS industry the hub brought in, like warehousing/logistics and the developement of a warranty repair industry. #################### From regional perspective the Cincy/Dayton area still has that former Airborne hub over in Wilimington, which is now a branch of DHL, which is itself a major airfreight operation (interestingly enough DHL is owned by what used to be the German post office).
February 25, 200520 yr What are Dayton politicians doing to keep companies? Any incentives? Anything? Four or five years ago there was an attempt to beef up the local tool & die industry via something called the "Tool Valley Initiative", which involved sort of management consulting/joint ventures, marketing, education programs, and so forth, so as to build up the capacity of the local industry and help in compete better...and then that "Tool Town" concept that the city of Dayton had as a buisness incubator and industrial park for new machine shops. But it seems this concept was dropped as an economic developement strategy. Probably realistic as alot of this tool & die work is moving overseas. Losing this industry isn't going to be a big bang like what happened to Youngstown and its steel mills, as its small & decentralized, and it wont happen at once like a big mill closure, but the effect will be just as bad. The tool & die industry is equivilant to Wright-Patterson in money pulled into the local economy, and in employment. Right now the only good economic news for this area is that WPAFB doesn't seem to be on the BRAC list. If WPAFB is a receiver base it might pick up some units relocated from elsewhere (assuming this BRAC round isn't voted down), which would mean more defense spending in the area.
March 21, 200520 yr I was in Louisville over the weekend, and read in the local papers' buisness section that the Dayton operations are going to be consolidated into the UPS Louisville operation. I wasn't sure about that based on the above DDN article, but it looks like the Dayton operation isnt going to the other cities listed. This is good news for Louisville. UPS just keeps expanding operations there. The place is a real node in the logistics end of the global economy. As for Dayton, this MSA was the only one other than Youngstown/Warren to actually lose population between 1990 and 2000....and these ten years should have been relatively prosperous ones.
March 21, 200520 yr As for Dayton, this MSA was the only one other than Youngstown/Warren to actually lose population between 1990 and 2000....and these ten years should have been relatively prosperous ones. Tis' true yet the growth in Warren County's northern sections have been outstanding. Thus, if northern Warren County were included in Dayton's MSA (aka Springboro, Franklin, the townships, etc), Dayton would slightly grew, actually. But alas, Springboro is part of Cincinnati's MSA. "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
March 21, 200520 yr ^ Yeah, thats right! Thanks for that reminder about Warren County. Northern Warren certainly is a suburban area to Dayton and I do agree that if the northern tier of townships and villiages where counted in with Dayton one would see overall growth from 1990 & 2000. Perhaps even Lebanon to some extent is suburban to Dayton now, too (tho shared w. Cincy).
June 2, 200520 yr From the 6/1/05 Dayton Business Journal: Dayton area one of big losers on jobs front Dayton had one of the largest employment declines in the nation within the past year, according to a report released Wednesday by the U.S. Bureau of Labor Statistics. From April 2004 to April 2005, Dayton's nonfarm employment decreased by 2,100. Dayton's metropolitan statistical area includes Greene, Miami, Montgomery and Preble counties. Other top employment declines included the Detroit-Warren-Livonia, Mich., area, less 21,600; Baton Rouge, La., less 2,400; the San Jose-Sunnyvale-Santa Clara, Calif., area, less 2,200; the Bloomington-Normal, Ill., area, less 1,800; and the Lansing-East Lansing, Mich., area, less 1,500. Springfield, whose MSA includes Clark County, reported one of the top percentage declines in employment from April 2004 to April 2005 at minus 2.1 percent. The Cincinnati-Middletown area reported an increase of 4,000; the Cleveland-Elyria-Mentor area increased by 3,300; and Columbus increased by 3,200. Full article at http://www.bizjournals.com/dayton/stories/2005/05/30/daily8.html
June 2, 200520 yr that is as surprizing as it is heart breaking. i thought ne ohio was the job loss leader by a landslide. ugh.
July 28, 200519 yr From the 7/26/05 Dayton Business Journal: County makes ED/GE grants official Yvonne Teems DBJ Staff Reporter The Montgomery County Commission approved six resolutions Tuesday to help fund local companies' expansion projects. The county will provide $150,000 to the city of Dayton to help construct Norwood Tool Co.'s new 33,000-square-foot facility at its Winners Circle complex. The new facility will allow for adding 30 new employees to the medical, automotive and commercial products provider's 330 employees. Dayton also will receive $400,000 to help fund Behr Dayton Thermal Products' $44 million upgrades to the southern portion of the Webster Street facility purchased in 2002. The upgrades will add 230 jobs and retain 830 jobs. Read More...
July 28, 200519 yr ED/GE is sort of a revenue sharing program between city and suburbs. While intended as sort of an economic developement program there is sort of a secondary agenda of promoting cooperation, or the habit or concept of cooperation, between city and suburbs. An outsiders opinion of ED/GE From the Rusk Report in the York Daily Record Though more urbanized, the political map of the Dayton, Ohio, area looks much like the York area -- 18 cities and villages, 12 townships, and a county government which is legally powerless vis a vis local governments. Yet a creative and activist Montgomery County (Ohio) government has signed up 29 of 30 municipalities and townships in a 9-year joint economic development and revenue-sharing compact; launched a county-wide affordable housing program; and created a more unified, region-wide arts and cultural program. The key was the county government's willingness to use its limited tax authority to promote local collaboration. In 1989, the Montgomery County Commission enacted a 1 percent county option sales tax. Before funding county road maintenance, the sheriff's department, and reducing bonded indebtedness, the commissioners set up three incentive funds. Read More...
August 28, 200519 yr From the 8/22/05 Dayton Business Journal: Task force undecided on future of UPS hub Consulting firm hired to determine options John Wilfong DBJ Staff Reporter While the fate of the 1,400 jobs at United Parcel Service Inc.'s sorting hub at Dayton International Airport is sealed, the future of the expansive complex of buildings remains up in the air. A task force consisting of Dayton International Airport, city of Dayton, Montgomery County, Dayton Area Chamber of Commerce and regional development officials hired an industry consultant for $77,000 shortly after the announcement in February to help cope with the situation. Stanley Earley, Dayton's assistant city manager, said he expects representatives from Arlington, Va.-based MergeGlobal Inc. to deliver their initial assessment possibly sometime in September. UPS plans to pull out of the hub by mid-2006, but area officials aren't discussing much of their plans beyond hiring the consultant. In addition to losing the 1,400 jobs, $1 million in city income tax and more than $5.5 million in airport revenue, the city will find itself with the empty building still owned by UPS. Earley said the most likely option remains aviation or some type of cargo-related business since the building was made to handle such tasks. Full article at http://www.bizjournals.com/dayton/stories/2005/08/22/story6.html?from_rss=1
September 22, 200519 yr Author Dayton also will receive $400,000 to help fund Behr Dayton Thermal Products' $44 million upgrades to the southern portion of the Webster Street facility purchased in 2002. The upgrades will add 230 jobs and retain 830 jobs. Sound like there is less of an investment than originally announced, but still the same number of jobs retained and created. This expansion is especially good news considering the likely fate of many local Delphi plants. No link for article.
September 29, 200519 yr going down.....Rochester must be a sad place, too..... The Dayton metro area was second only to the Detroit metro area for the largest employment decline over the past year, according to the government. * Detroit-Warren-Livonia, Mich. -21,900 * Dayton -4,800 * Rochester, N.Y. -4,600 * Youngstown-Warren-Boardman -4,300 * Holland-Grand Haven, Mich. -3,500 * Cleveland-Elyria-Mentor -3,300 Rochester, N.Y. — third on the loss list — is the home of Eastman Kodak, which has been shedding thousands of jobs as it weathers the consumer switch from film to digital photography. In Dayton, the job loss could worsen in the next two weeks if Delphi Corp., the world's largest auto parts maker, files for bankruptcy. The move could lead to the closing of several troubled parts plants in the Dayton area, which employ about 5,700.
September 29, 200519 yr From the 9/26/05 Dayton Business Journal: Huffy biking toward Chinese ownership When Huffy Corp. emerges from Chapter 11 bankruptcy protection in October, the majority of its stock will be owned by the Chinese government. The U.S. Bankruptcy Court for the Southern District of Ohio approved Huffy's (OTCBB:HUFC) bankruptcy plan Friday. Huffy filed for Chapter 11 in October 2004 and plans to emerge early next month. Huffy's debts will be wiped out under the plan in exchange for new shares to be issued in the company. ... http://www.bizjournals.com/columbus/stories/2005/09/26/daily2.html
October 1, 200519 yr That is quite a dropoff between detroit and dayton. God it would really suck to be in Detroit
October 1, 200519 yr it's bad but i wish we also had some numbers to see the amount of new jobs created to see the truer effect on the communitry as a whole.
October 7, 200519 yr Yeah things aren't that great here in metro Detroit. Ann Arbor is surviving because of the U, medical center and Pfizer and I don't know if A2 is included as part of the Detroit numbers. As for Detroit.. Ford, GM, DCX, Visteon, Delphi, Kmart, Franks Nursey, Collins and Aikenman, Farmer Jacks...to just to name a few. The housing market is even scarier.
October 7, 200519 yr Wonder where Cincinnati sits on this list? Thankfully Wright-Patt survived the BRAC!
October 7, 200519 yr I forget where these numbers came from, and Jeff didn't mention the source. I think it was from the Bureau of Labor Statistics. They keep all of that info up on their website.
October 9, 200519 yr yeah, has kmart officially left yet? thats another 1000........ I'm pretty sure they have moved out of Troy. I know from Crain's that there are several interested in the property including Madison Marquette. I think those interested are more interested in the land than the building. The building will not survived....no need for that much additional vacant office space in Troy.
October 17, 200519 yr From Bloomberg News, 10/15/05: Huffy Corp. emerges from yearlong bankruptcy Ohio bike maker sheds $161 million in debt, turns over retirement plan By Jef Feeley Bloomberg News Huffy Corp., the Ohio maker of the Dayton Roadster and other bicycles, emerged from bankruptcy after shedding $161 million in debt and turning its retirement plan over to the Pension Benefit Guaranty Corp. The company, once the No. 2 U.S. bike maker behind Schwinn, filed for Chapter 11 bankruptcy protection in Columbus last October after three years of losses. Huffy, based in Miamisburg, handed its stock to creditors, who then dropped their claims. It will no longer be publicly traded. ... http://www.ohio.com/mld/ohio/business/12910073.htm?source=rss&channel=ohio_business
October 22, 200519 yr From the 10/19/05 Dayton Business Journal: Local economy to trail the nation Suzelle Tempero DBJ Staff Reporter National City brought together two economists Wednesday to give local and national forecasts to a crowd of Dayton business owners over lunch. Richard Stock, director of the University of Dayton's Business Research Group, and Richard DeKaser, chief economist for National City Corp., said there are some positives on the horizon for both the national and the local economies in the year ahead, but that many leading indicators will stay flat. Stock noted that locally, the Dayton area is down 31,000 jobs from employment levels in 2000, and lost 5,000 jobs in the past year alone. Employment levels in manufacturing, wholesale and retail continue to be down, while education and health care saw slight increases. Full article at http://www.bizjournals.com/dayton/stories/2005/10/17/daily20.html?from_rss=1
December 5, 200519 yr It's nice to hear some good news about the Dayton economy. From the 12/1/05 Dayton Business Journal: Relizon to increase workforce The Dayton headquarters of Relizon Co. will see an increase in jobs after being acquired by Workflow Management Inc. Relizon will add about 200 jobs to the 450 employees working at the Dayton site, said Greg Mosher, chairman and chief executive officer of the combined company, during a conference call Thursday. http://www.bizjournals.com/dayton/stories/2005/11/28/daily21.html
December 5, 200519 yr Author Good news. When the Carlyle Group bought Relizon from Reynolds and Reynolds, I think there was a fear that Carlyle would eventually sell it to a company who would move the jobs out of Dayton. Glad to hear Workflow Management is actually adding jobs here.
December 6, 200519 yr Let's hope they can add the OTHER phase of their building to the grass-lot next door to it, downtown. "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
January 31, 200619 yr Okay, this is great news because it offsets the losses suffered by the closure of the MT Picture Display plant. There is nothing worse than a large, vacant industrial site that's not being used, and I'm glad Troy was able to get the space filled so quickly. From the 1/30/06 Dayton Business Journal: Manufacturer plans to create 400 jobs in Troy Tracy Kershaw-Staley DBJ Staff Reporter Clopay Building Products Company Inc. plans to purchase the soon-to-be-vacant MT Picture Display plant in Troy, offsetting the impact of the plant's February closure. It is one of four local manufacturers that are planning expansions and job growth with the help of the Ohio Tax Credit Authority. ... http://dayton.bizjournals.com/dayton/stories/2006/01/30/story1.html
January 31, 200619 yr Author I wonder if this plan will have any impact on the Clopay factory in Russia (pronounced Roo-she) in Shelby County.
March 28, 200619 yr fyi - the first ncr retail shop building is very sharp looking and still exists and thrives on atlantic avenue in downtown brooklyn. it's now an art gallery and reception hall. i'll get some photos for you up when i get another digital camera (soon). Soon? A year and 4 months later. hehe
March 28, 200619 yr I can see my Window!!! not really it faces the back over looking old river park....however for those interesed a position as an inside sales consultant just opened in my division so if you are looking or know someone who is looking for a job, let me know. Usually a college degree and sales experience is needed.
April 1, 200619 yr From the 3/9/06 Dayton Daily News: WorkflowOne to be headquartered in Dayton By Jim Dillion Dayton Daily News GREENWICH, Conn. | Workflow Management Inc., a provider of supply chain logistics, document outsourcing and business communication services, announced Thursday it will consolidate the U.S. businesses of Dayton-based Relizon Co. and WorkflowOne under the brand name WorkflowOne and make Dayton its headquarters for the consolidated business. Workflow Management acquired Dayton-based Relizon in November. About 450 people will be based at the downtown Dayton headquarters, about the same number of people who worked at the Relizon building before the acquisition. The transition will take place over the next 12 months, a Workflow spokesman said. "Uniting these businesses under a single, well-established brand name signals our intent to operate with one vision, one mission and one voice," said CEO and chairman Greg C. Mosher. "Our name clearly suggests our value proposition for customers — the ability to enhance their business results through improved workflow." http://www.daytondailynews.com/business/content/business/daily/0309workflowweb.html
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