May 11, 200718 yr Author Bank to lend millions in poor areas Huntington joins Columbus' revitalization initiative Thursday, May 10, 2007 3:41 AM By Robert Vitale THE COLUMBUS DISPATCH http://www.dispatch.com/dispatch/content/business/stories/2007/05/10/invest.ART_ART_05-10-07_C10_JV6L7GA.html Huntington Bank will lend $270 million during the next five years to people who want to buy and renovate houses or start businesses in lower-income Columbus neighborhoods, bank officials said yesterday. Huntington also will give the city abandoned and vacant homes in its foreclosure portfolio so they can be repaired or razed more quickly...
May 11, 200718 yr Author Columbus praised for inner-city successes Activist calls on federal government to enact policy to aid such urban projects Thursday, May 10, 2007 3:50 AM By Debbie Gebolys THE COLUMBUS DISPATCH http://www.dispatch.com/dispatch/content/local_news/stories/2007/05/10/LCITIES.ART_ART_05-10-07_B4_2R6LFRF.html Some secrets are not best kept. Recent development successes in Columbus' inner city ought to be a springboard to getting national attention and federal help. Instead, they aren't much known locally or beyond...
May 16, 200718 yr Limited Brands sheds Express stake for $548M Business First of Columbus - 5:47 PM EDT Tuesday, May 15, 2007 by Saleha Ghani and Dan Eaton Business First Limited Brands Inc. is selling a majority stake in its Express clothing chain as it continues to put greater emphasis on its intimate apparel and beauty products businesses. The Columbus retailer said Tuesday it has agreed to sell 67 percent of the 631-store Express chain to an affiliate of San Francisco-based Golden Gate Capital, a private equity firm. The deal is expected to close by July 6. The stake will be sold for $548 million, or about $425 million after taxes, Limited Brands said... http://mobile.bizjournals.com/smartphone/mobile.php?UMPG=article&UM_SCTN=Latest+News&MKT=columbus&UM_ARTICLE_LINK=http://www.bizjournals.com%2Fcolumbus%2Fstories%2F2007%2F05%2F14%2Fdaily12.html%3Fsurround%3Dlfn Limited Brands will sell majority stake in Express Seeking buyer for Limited stores Tuesday, May 15, 2007 3:10 PM By Jeffrey Sheban Ending months of speculation, Limited Brands has decided to shed its apparel divisions, Limited Stores and Express. The company said it will sell 67 percent of its Express division to Golden Gate Capital for $548 million, and also said it was seeking a buyer for Limited Stores... http://dispatch.com/dispatch/content/business/stories/2007/05/15/limitedsale.html
May 16, 200718 yr Wexner exiting apparel trade Express sold, Limited will go; lingerie, fragrance chains stay Wednesday, May 16, 2007 3:43 AM By Jeffrey Sheban THE COLUMBUS DISPATCH After selling off a majority interest in its Express division yesterday, Limited Brands put a for-sale sign on the last piece of the core clothing business started in Columbus by Leslie H. Wexner. In the future, Limited Brands will focus on its fast-growing Victoria's Secret lingerie and Bath & Body Works personal-care lines, which accounted for more than 90 percent of profit last year... [email protected] http://www.dispatch.com/dispatch/content/business/stories/2007/05/16/newspaper_version.ART_ART_05-16-07_A1_QO6NU0B.html
May 16, 200718 yr Well, that sucks. Does that put the jobs in Columbus in jeopardy? They aren't ultra high-end brands, but I think it's really cool that we have major trendsetting companies like this in Ohio. edit: NM the story says *more* jobs could come to cbus
June 8, 200718 yr From the 2/27/07 Dispatch: Tax credit lures firm, 97 jobs Maker of high-performance material will move HQ to Columbus from Texas Tuesday, February 27, 2007 Monique Curet THE COLUMBUS DISPATCH A Texas company will move its headquarters to Columbus and create 97 high-paying jobs within three years after receiving a tax credit from the state. The Ohio Tax Credit Authority yesterday approved a five-year, 60 percent tax credit worth $856,745 for Zyvex Performance Materials Inc. The technology company creates high-performance materials used by others to make products for the sportinggoods, aerospace, defense and medical industries... [email protected] http://www.dispatch.com/dispatch/contentbe/dispatch/2007/02/27/20070227-C1-01.html
June 8, 200718 yr Yay! This is exciting. Let's hope more follow suit. "noting that the city hopes to retain its young and talented residents."
June 20, 200717 yr Wendy's looks into selling company Reaction as earnings fall June 19, 2007 | ASSOCIATED PRESS DUBLIN - Wendy's International Inc. is exploring a possible sale of the company, the nation's third-largest hamburger chain said Monday. The company also warned that its earnings for the year would miss Wall Street estimates. "While a sale remains only one of the alternatives under consideration, we believe it merits more thorough examination," James V. Pickett, Wendy's chairman and head of special committee doing the study, said in a statement. More at:
June 21, 200717 yr This saddens me greatly. Why is it all about money money money!? Seriously what would the World be like without a Wendy's? So what, it's not doing awsome in the stock market. Who cares? I mean, I understandt he necessity of turning a prophet, but does it have to be such a huge one in order to be sucessful. They sell food, they sell a name, a brand. They have a distinctive flavor and style that would be hard to match. I hate how the shareholders are so eager to sell the company, they don't care about the company, all they care about is making money. Maybe even a quick buck.
June 21, 200717 yr You've summed up the trends in the American business climate over the past decade or so quite well in the matter of a few sentences. :clap:
June 22, 200717 yr Author Limited to cut home-office work force by 10 percent Friday, June 22, 2007 10:02 AM By Jeffrey Sheban THE COLUMBUS DISPATCH http://www.dispatch.com/dispatch/content/business/stories/2007/06/22/limited.html Limited Brands said today it will reduce its home-office work force by 10 percent, or about 530 jobs, by eliminating open positions, layoffs and transfers to its Express division, which is being sold. No headcount reductions are anticipated in stores, distribution centers or call centers, Limited Brands said. Currently, 5,300 people work in the Columbus headquarters near Easton. For more information, click above link.
June 23, 200717 yr The job reductions will be spread between the Columbus headquarters and their NYC offices so I don't think all 500 jobs will be lost locally.
June 23, 200717 yr The new focus is going to be on intimate apparel and personal care... hmmm... so basically Limited = Victoria's Secret + Bath and Body Works. Must be their two most profitable divisions.
June 23, 200717 yr ...so basically Limited = Victoria's Secret + Bath and Body Works... A good combination; those dirty, dirty lingerie models need a good, hot, soapy bath. Come on, now ladies. Into the tub...
June 23, 200717 yr Victoria's secret is their bread and butter. I know quite a few Limited employees as there NYC offices are right next to ours. They have given up leases on two floors in the building and we're taking them over. There is an option for a third we might take. I'm acquainted with alot of the folks in their executive office and I know two of their division presidents have been asked to relocate to Columbus and their assistants are reluctant to move to Ohio. This all started with the sturcture brand being disolved back into the limited brand.
June 25, 200717 yr Former Anchor Hocking employees scramble to find insurance Many retirees' benefits running out before they're eligible for Medicare By TAMARIA L. KULEMEKA The Eagle-Gazette Staff [email protected] LANCASTER - John and Linda Lamb are exhausting their options to find affordable health insurance coverage before their current coverage runs out. John Lamb, 62, retired from Anchor Hocking in 2004. He always believed he'd be covered by the company at least until he reached age 65, when he becomes eligible for Medicare. That security disappeared when Global Home Products sold Anchor Hocking to Monomoy Capital Partners L.P. The New York City-based private equity firm did not assume responsibility of retirees' health insurance coverage - among other debt incurred by Global Home Products - when it purchased Anchor Hocking. More at: http://www.lancastereaglegazette.com/apps/pbcs.dll/article?AID=/20070520/NEWS01/705200302/1002/rss01
June 27, 200717 yr They also have C.O. Bigelow, Henri Bendel and Intimissimi (though very small divisions), and are now opening "Pink" stores on their own outside of VS. I think the "Pink" stuff is doing better than VS...hence the expansion. I guess the gals love sweatpants with stuff written on the ass.
June 28, 200717 yr From the 5/29/07 Dispatch: BROADER APPROACH Longaberger gets flexible with its sales consultants Tuesday, May 29, 2007 3:24 AM By Marla Matzer Rose THE COLUMBUS DISPATCH The Longaberger Co. is thinking nationally as part of its turnaround efforts. The Newark company, known for its handmade baskets, is making it easier and less expensive to join its home-based sales force and is expanding the "basket fests" it holds to places such as California and Texas. "In talking to our top sales consultants, most say they didn't intend to make a career out of it when they started selling Longaberger. People join direct-selling companies because they want flexibility," said Jim Klein, who joined Longaberger as president at the beginning of 2006. Longaberger said in March it was temporarily laying off more than 700 workers at its Newark headquarters. Klein said all of the 471 who were set to come back on June 18 will be called back, but he said it is too early to set a date for when the others might be recalled. MORE: http://www.dispatch.com/dispatch/content/business/stories/2007/05/29/longaberger.ART_ART_05-29-07_C10_1K6R2M2.html?type=rss&cat=7
June 28, 200717 yr I guess the gals love sweatpants with stuff written on the ass. Never have truer words been spoken.
June 29, 200717 yr Passed by a female today with the words, "EAT ME" on the ass. The other side, that would be approperiate. But the ass? mkay
July 13, 200717 yr Author Deal would vault Hexion to top 5 $10.6 billion acquisition would triple size of chemical-maker Friday, July 13, 2007 3:34 AM By Paul Wilson THE COLUMBUS DISPATCH http://www.dispatch.com/dispatch/content/business/stories/2007/07/13/hex.ART_ART_07-13-07_C8_LM793PU.html One of Columbus' biggest companies looks to be getting a lot bigger. Little-known Hexion Specialty Chemicals won the bidding yesterday for fellow chemical-maker Huntsman Corp., beating rival bidder Basell AF for the Salt Lake City company. ...
July 13, 200717 yr Author Turnaround plan Longaberger optimistic despite losing 113 more jobs Friday, July 13, 2007 3:29 AM By Amy Saunders, THE COLUMBUS DISPATCH http://www.dispatch.com/dispatch/content/business/stories/2007/07/13/longaberger.ART_ART_07-13-07_C8_LM79424.html The Longaberger Co. is eliminating 113 jobs to cut costs and streamline the company, the Newark-based basket-maker said yesterday. The move also is expected to boost a turnaround plan begun this year, spokesman Tom Matthews said. After a disappointing 2006, Longaberger opened its first factory store in Frazeysburg and made it easier and less expensive for independent sales consultants to join the company. It's also preparing to begin online sales. The reductions -- a combination of layoffs and elimination of open positions -- primarily affect corporate employees and went into effect yesterday, Matthews said. Longaberger's work force now is down to about 3,000, from about 8,200 in 2000.
July 13, 200717 yr And I work in the same building! "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
July 13, 200717 yr Hexion Specialty Chemicals. Incredibly scary-sounding name, moderately scary-looking logo:
July 19, 200717 yr First link contains a photo. Both from the 7/18/07 Newark Advocate: Longaberger Co. changing leaders Klein steps down; Gimeson taking over By MARK SZAKONYI Advocate Reporter NEWARK -- Eighteen months into the five-year turnaround plan he said he designed, Longaberger Co.'s president is out. Jim Klein's departure comes a little more than a week before the Newark-based company's largest annual event, the Longaberger Bee. Fifteen-year Longaberger veteran Jim Gimeson, executive vice president and chief operating officer, will become the new president, Longaberger spokesman Tom Matthews said. Klein, who contributed to the turnaround of Avon's North American Division, was seen by many as the embodiment of founder Dave Longaberger's vision. His last day was Monday. Klein's departure is part of the basket manufacturer's corporate alignment plan, which also included the layoff of 113 positions at corporate headquarters in Newark last week, Matthews said. Matthews declined to comment on whether Klein's leaving was voluntary. MORE: http://www.newarkadvocate.com/apps/pbcs.dll/article?AID=/20070718/NEWS01/707180304/1002/rss01
August 23, 200717 yr Plant to fix 1 pollution issue Columbus Steel will recycle water, pay fine Thursday, August 23, 2007 3:38 AM By Spencer Hunt THE COLUMBUS DISPATCH A South Side foundry still faces state accusations of air pollution but has agreed to fix a water-pollution problem that dates back 18 years. Columbus Steel Castings will recycle the water it uses to cool red-hot metal instead of letting it drain into a creek. The company also will pay a $75,000 fine, under a pending settlement with the Ohio Environmental Protection Agency. http://dispatch.com/live/content/health/stories/2007/08/23/colsteel.ART_ART_08-23-07_B1_H17MLCL.html?sid=101
September 12, 200717 yr Columbus area hiring outlook cloudy in 4Q, surveys forecast September 11, 2007 | COLUMBUS BUSINESS FIRST COLUMBUS - Employers across many sectors of the local economy are forecasting meager hiring boosts in the last quarter of the year, three new surveys indicate. The Manpower Employment Outlook Survey released Tuesday indicated only 7 percent of surveyed Columbus area employers are planning to hire more employees before the end of the year, while 3 percent expect to cut their work forces. Projections for the fourth quarter of 2006 had 35 percent of surveyed companies planning to increase staffing levels and 8 percent expecting cuts.
December 17, 200717 yr Downtown firms doing office shuffle Monday, December 17, 2007 6:36 AM By Mike Pramik THE COLUMBUS DISPATCH The game of musical chairs that law firms are playing Downtown has finally struck the right note for the managers of the Huntington Center. Thompson Hine said last week it's planning to move in the fall to the 37-story tower at 41 S. High Street. The lawyers are signing a 10-year lease for 38,000 square feet in what has long been one of Downtown's signature office buildings. That's a big win for Hines Interests, which manages the tower. In recent years two major law firms, Schottenstein Zox & Dunn and Jones Day, left the Huntington Center for new buildings in the Arena District. Read more at http://www.dispatch.com/live/content/business/stories/2007/12/17/ZONE17.ART_ART_12-17-07_C10_1G8P625.html?sid=101
January 19, 200817 yr Dominion Homes agrees to buyout Business First of Columbus - January 18, 2008 Embattled homebuilder Dominion Homes Inc. has agreed to go private in a deal with two private-investment firms, the company said after the markets closed Friday. Dublin-based Dominion said the firms will pay 65 cents a share for the company's stock, representing a 30 percent premium over the opening price Friday of 50 cents a share. Dominion's shares fell 9 cents during the day to close the week at 41 cents. Dominion said a committee of independent directors and the full board have approved the acquisition terms. The deal is expected to close in the first half of 2008 but first needs shareholder approval. MORE: http://columbus.bizjournals.com/columbus/mobile/stories/2008/01/14/daily31.html
January 23, 200817 yr Here's the Dispatch's take on the Dominion Homes private buyout. Apparently Dominion Chairman Doug Borror's finances aren't as shaky as the people he sells homes to! Dominion Homes to be acquired Private buyout group includes chairman, gets board's OK with 37% premium over stock price Saturday, January 19, 2008 - 3:01 AM By Mike Pramik, THE COLUMBUS DISPATCH Dominion Homes has agreed to be acquired by a buyout group that includes Douglas G. Borror, chairman and chief executive. Dominion said yesterday that Borror's BRC Properties Inc., the home builder's largest shareholder, is joining with Angelo, Gordon & Co. and Silver Point Capital to buy the company for 65 cents per share. The price represents a 37 percent premium above Dominion's closing stock price Thursday of 47 cents. The deal will take the struggling Dublin home builder private for the first time since 1994. MORE: http://www.dispatch.com/live/content/business/stories/2008/01/19/Dominion_sale.ART_ART_01-19-08_C12_LU93O8G.html?sid=101
January 27, 200817 yr 2008 Blue Chip Financial Forecast Columbus likely to experience weak employment growth, but no recession Thursday, Jan. 24, 2008 By JEFF DONAHUE ThisWeek Staff Writer While Columbus Chamber of Commerce Economic Analyst Bill LaFayette didn't have much good news to deliver during his 2008 Blue Chip Financial Forecast Thursday morning at the Ohio Historical Center, he stopped short of predicting a recession in the coming year. The Blue Chip Financial Forecast, is a compilation of independent-sector forecasts prepared by LaFayette; Joseph Mandeville, assistant vice president of the Red Capital Group; George Mokrzan, vice president and senior economist with Huntington Bancshares Inc; and James Newton, chief economic adviser for Commerce National Bank. Overall, LaFayette summed up the forecast by saying 2008 would likely be another year of weak employment growth in the Columbus Metropolitan Statistical Area (MSA), which consists of Delaware, Fairfield, Franklin, Licking, Madison, Morrow, Pickaway and Union Counties. As a group, the economists predicted 0.4 percent employment growth in the Columbus MSA in 2008. Full story: http://thisweeknews.com/?sec=home&story=sites/twn/content/pool/exclusives/2008/january/012408-WEB-economy.html&tab=tab1
January 28, 200817 yr Steady pace predicted for commercial real estate in '08 Monday, January 28, 2008 - 5:19 AM By Mike Pramik THE COLUMBUS DISPATCH Central Ohio should have a steady if unspectacular commercial real-estate market in 2008, local observers say. That means continued industrial development and leasing in the Rickenbacker Airport area, some new speculative office buildings in the suburbs and plenty of hand-wringing Downtown. Market research reports released last week by CB Richard Ellis and Grubb & Ellis/Adena Realty Advisors predict that, short of an influx of new jobs from out of town, the office market will be, well, OK in 2008. Read more at http://www.dispatch.com/live/content/business/stories/2008/01/28/ZONE0128.ART_ART_01-28-08_C8_FO95JEE.html?sid=101
January 28, 200817 yr Housing rebound on way? Dismal '07 could lead to local-market rebirth Friday, January 25, 2008 - 3:15 AM By Mike Pramik THE COLUMBUS DISPATCH Local home sales declined for the second straight year in 2007, further evidence that the national real-estate crisis has touched central Ohio. What's going to happen in 2008? It depends on whether you believe in statistics or optimism. The Columbus Board of Realtors said yesterday that sales of single-family homes and condominiums in central Ohio dropped by 6.9 percent last year to 24,445. The properties sold for an average of $172,531, down 1.2 percent from the previous year. Read more at http://www.columbusdispatch.com/live/content/local_news/stories/2008/01/25/Homes_sales_2007.ART_ART_01-25-08_A1_1295HVP.html?sid=101
February 4, 200817 yr Stunted growth Columbus still has an appetite for annexation, but it's swallowing up land much slower lately Monday, February 4, 2008 - 3:08 AM By Debbie Gebolys THE COLUMBUS DISPATCH Columbus used to grow like a weed. But lately, its suburbs are more likely to be broadening their borders. In Franklin County last year, Columbus added 111 acres while Hilliard added 125 and Obetz tacked on 174 for a Columbus Regional Airport Authority industrial park. Columbus has been praised for its growth policy, started by Mayor M.E. Sensenbrenner, who was first elected in 1954. It uses its control of water and sewer services to limit suburban growth that could landlock the city. Full story: http://www.dispatch.com/live/content/local_news/stories/2008/02/04/Annex08.ART_ART_02-04-08_B1_R6980SR.html?sid=101
February 6, 200817 yr After reading this article in Forbes a couple of years ago about how Jay Schottenstein conducts business, I'm sure somehow he's making big bucks on this deal.
February 6, 200817 yr Why do I have the feeling this involves at least 2 locations in Dayton? Woodman Dr being one of them...
February 6, 200817 yr Why do I have the feeling this involves at least 2 locations in Dayton? Woodman Dr being one of them... I wouldn't be so sure of that (but this is just pure speculation on my part.) It appears that both Dayton properties are owned by Kimco Realty, who Jay Schottenstein has numerous business deals with per the article I linked to above. I assume that Schottenstein somehow benefits if those buildings are filled, and if Value City closed I can't imagine anything else moving into those locations anytime soon. So I would imagine that most of the stores closing are in leased locations owned by a third party. Now, I'm not sure what, if any, stake Schottenstein has in VCHI Acquisition Co., the new majority owner of Value City, but I would assume he has a stake somehow given his past record or is at least still pulling strings. But then again, I'm probably over analyzing the whole thing. Also, a couple of the Cincinnati area stores (IIRC, Ridge Ave. and Covington) are among those that were sold to Burlington Coat Factory and will be converted to Burlington stores.
February 6, 200817 yr Why do I have the feeling this involves at least 2 locations in Dayton? Woodman Dr being one of them... I wouldn't think that the Woodman store will close. However, the DDN has been running ads for major sales at the Salem Ave. store the last few weeks. The ads have not mentioned the store was closing but the way the ad was designed it looks like it you could easily add those words.
February 6, 200817 yr “It’s too bad, because Elyria doesn’t need to have another store closing,” Alvarez said. “But the sale’s good. If I can find some golf clubs, I’ll buy them. I don’t even golf.” That's really sad.
February 6, 200817 yr Its too bad, because Elyria doesnt need to have another store closing, Alvarez said. But the sales good. If I can find some golf clubs, Ill buy them. I dont even golf. That's really sad. Why? Hell, that is a potential gift!
February 6, 200817 yr Why do I have the feeling this involves at least 2 locations in Dayton? Woodman Dr being one of them... I wouldn't think that the Woodman store will close. However, the DDN has been running ads for major sales at the Salem Ave. store the last few weeks. The ads have not mentioned the store was closing but the way the ad was designed it looks like it you could easily add those words. There was an article about this in a recent issue of the International Council of Shopping Center's "Shopping Centers Today" magazine. It talked about how shopping center owners can add clauses in leases that specify how "going out of business" sales can be conducted, if they are even permitted. I guess there's a lot of discussion in the shopping center industry about how these types of sales are stigmatizing properties.
February 7, 200817 yr My Mom lives in Englewood and she heard that the Salem Ave. store IS closing. :-(
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