December 8, 20204 yr 1 minute ago, Pugu said: Is there a full list of applicants somewhere? If there were applicants within the city and CLE got zero, that's really sh&tty. I think none of them had a chance of being in Cleveland and were just expanding where they already were at or a close neighborhood nearby. The only thing that I don’t get is why Aethrsys didn’t expand in Cleveland. 400 new jobs and nearly 100k a job is something you want to land especially since their headquarters are in Cleveland already. There may be a reason that we don’t know though.
December 8, 20204 yr Stow probably offered some dirty backroom deal. The suburbs are always rubbing their hands trying to steal jobs and future jobs from the city. It doesn't help that Cleveland is not very pro-active in engaging its businesses.
December 8, 20204 yr 8 hours ago, Pugu said: It doesn't help that Cleveland is not very pro-active in engaging its businesses. Understatement :)
December 9, 20204 yr The more suppliers of a good, the better for consumers. In Cleveland, we've lost many many hospitals and independent doctors to major acquisitions by the Cleveland Clinic and to a lesser extent Univ Hospitals. And suddenly hospitals became 'health SYTEMS." So we have four in Cleveland: UH, CLE Clinic, Metro, and Sisters of Charity. Sisters of Charity has two hospitals--St. Vincent on E. 22 St and one in Canton. But it was just announced that the Cleveland Clinic is taking over the hospital in Canton, meaning the Sisters of Charity SYSTEM will be just one hospital---so not really a health 'system'. This is dangerous as I wonder if Cleveland Clinic is plotting to take over St. Vincent as well and as part of their strategy is to first take out the Canton hospital, weakening the system (lower economies of scale) so they can then take St. Vincent---and then shut it down forcing everyone to their main campus while Downtown and all those residents in the projects along Cedar lose a good hospital right in their neighborhood. Cleveland Clinic is a greedy business and isn't to be trusted. I now fear for St. Vincent. [cross posted in Cleveland Public Health and Cleveland: General Business & Economic News]
December 9, 20204 yr I had a breakfast meeting earlier this week with someone who told me that Saint Vincent Charity Hospital in Cleveland was suffering badly financially from the Coronavirus. It would not surprise me if Cleveland Clinic pick this one off too. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 9, 20204 yr ^Thats the scary thing. The pandemic will end hopefully within a year--but Cleveland Clinic will shut down that hospital forever.
December 9, 20204 yr 4 hours ago, KJP said: I had a breakfast meeting earlier this week with someone who told me that Saint Vincent Charity Hospital in Cleveland was suffering badly financially from the Coronavirus. It would not surprise me if Cleveland Clinic pick this one off too. Would they want it? I'd think MetroGeneral would be a better choice to turn it around. Remember: It's the Year of the Snake
December 10, 20204 yr 13 hours ago, KJP said: It would not surprise me if Cleveland Clinic pick this one off too. St Vincents doesn't fit the Cleveland Clinic model. Way too many poor people and Medicaid. If they did buy them, it may just be to keep the ambulances and Medicaid cases there and away from the shiny main campus.
December 10, 20204 yr I think historically it's been a lot of poor people but that's changed a lot with the growth of some of the core Cleveland neighborhoods. St. Vincent Charity is going to be starting a master plan to deal with that growth. I hope that they will have the resources to carry it out. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 10, 20204 yr Here's an interesting anecdote. Per Bernie Moreno's LinkedIn - Bentley Cleveland led the nation in Bentley purchases nationwide in the month of November. The runner's up were Miami and Naples, respectively.
December 10, 20204 yr 6 minutes ago, YABO713 said: Here's an interesting anecdote. Per Bernie Moreno's LinkedIn - Bentley Cleveland led the nation in Bentley purchases nationwide in the month of November. The runner's up were Miami and Naples, respectively. Clearly OBJ has been shopping during his injury down time!
December 16, 20204 yr Great news for an awesome Cleveland start-up, BoxCast. Live-streaming platform BoxCast raises $20M https://techcrunch.com/2020/12/15/boxcast-series-a/?fbclid=IwAR1PJRoBgNvc8RA_L3d_3g01L1VcFeHSJvuQ34Nuth1jSElcqWwEVtFR7hQ “BoxCast, a Cleveland-based company aiming to make it easy to live stream any event, has raised $20 million in Series A funding. “Co-founder and CEO Gordon Daily said that when the company first launched in 2013, “streaming wasn’t something that everyone understood,” and you needed professional help to live stream anything. BoxCast is supposed to make that process accessible to anyone.” They are on the Superior Viaduct next to the Bridgeworks site. They finally put their name on the building recently. Does this count as world-class signage? It changes color. Edited December 16, 20204 yr by Boomerang_Brian Typo When is the last time I-71 turned a profit?
December 18, 20204 yr Well looky what we have here... "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 2, 20214 yr Discussion of NYT's recent article on Slavic Village has been moved to the Cleveland: Crime & Safety thread
January 3, 20214 yr I hate making predictions. But some of you asked for this meaningless prognostication, so here goes.... SUNDAY, JANUARY 3, 2021 Counting Cranes -- predicting TMUD's impact on Cleveland One of the most impactful actions to boost downtown Cleveland in the New Year and beyond was made in recent weeks and months 125 miles to the south in our state capital. It culminated with Gov. Mike DeWine signing a piece of legislation last week. In a state legislature that has gained a reputation for harming Ohio's largest urban centers, it actually helped them this time. How do we know for sure? We don't. We're talking about the future. The great unknown. As many of you know, I hate making predictions. I possess no great insights on the future. If you saw my stock market picks, you'd agreed with me. MORE: https://neo-trans.blogspot.com/2021/01/counting-cranes-predicting-tmuds-impact.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 3, 20214 yr What I think will end 'Working From Home' for a lot of people. My brother-in-law, who owns a small 50-person business, was on a Zoom call with his section heads. Question: How come Judy got that [new, plum] assignment? That's not her area. Answer: We needed to act immediately and she was here when the call came. Face time with the boss will still count. Remember: It's the Year of the Snake
January 5, 20214 yr Two Cleveland giants making acquisitions. TransDigm completes most of large UK acquisition https://www.crainscleveland.com/manufacturing/transdigm-completes-most-large-uk-acquisition Acquisition grows Applied Industrial's automation offerings https://www.crainscleveland.com/manufacturing/acquisition-grows-applied-industrials-automation-offerings
January 6, 20214 yr On 1/5/2021 at 12:47 PM, Sapper Daddy said: Acquisition grows Applied Industrial's automation offerings https://www.crainscleveland.com/manufacturing/acquisition-grows-applied-industrials-automation-offerings It's important to Cleveland in the long run that this not be a "platform division" acquisition, with an automation division (based somewhere else) out-growing the rest of the company. From looking at AIT's 10-K, it appears that their earlier automation acquisitions have been incorporated into the company and that this one will be, too. AIT is also taking an aggressive approach to writing down their intangibles, an approach I like seeing. 🙂 Remember: It's the Year of the Snake
January 6, 20214 yr Its been nice recently seeing Cleveland companies being the ones making the acquisitions. SW, Cliffs, Transdigm... I haven't heard recently, but a few months ago I remember hearing Key was gearing up to make another buy too.
January 8, 20214 yr "At the time of GE Lighting's acquisition, there was some question about whether the lighting company and its 400 employees would remain at Nela Park. The short answer is, yes." Whistling in the dark? Two years ago the employment at Nela Park was 1,000. Then the GE Current folks were carved out. At the time of the Lighting sale the employment was 700. Now it's 400. I'm not sure whether some of the GE Current folks are still there or not, but the trend isn't looking good. https://www.bizjournals.com/cleveland/news/2021/01/07/ge-lighting-creates-virtual-home-for-ces-2021.html Remember: It's the Year of the Snake
January 10, 20214 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 10, 20214 yr ^ Nice find. Digging for the raw data, I didn't get actual headcounts, but I did find a time comparison of in/out ratios. In Cleveland's case, the 2019 ratio was .78, that is, for every 100 tech workers who moved out, 78 moved in. That ratio improved to .94 for 2020, almost a balance; and it was the second best improvement on the list. Some 2020 numbers for other neighboring towns are interesting. Pittsburgh .71, Columbus .92, Detroit .73, and Cincinnati .81. https://drive.google.com/file/d/1NDoSiC24SObh9al5OM2loOBnSWy011BZ/view Remember: It's the Year of the Snake
January 11, 20214 yr Considering the near total closure of offices, a negative absorption of 400K SF isn't that bad by itself. Now if that continues every month, then it's bad. But this report was issued without mentioning the good news for the CBD involving Fathom, Goldwater and FM Global.... 4Q 2020 Cleveland Office Market Report Pandemic-Induced Downward Spiral Has Office Market Reeling at Year End https://www.ngkf.com/storage-nmrk/uploads/fields/pdf-market-reports/4Q20-Newmark-Cleveland-Office-Market.pdf "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 11, 20214 yr 3 hours ago, KJP said: Considering the near total closure of offices, a negative absorption of 400K SF isn't that bad by itself. Now if that continues every month, then it's bad. But this report was issued without mentioning the good news for the CBD involving Fathom, Goldwater and FM Global.... 4Q 2020 Cleveland Office Market Report Pandemic-Induced Downward Spiral Has Office Market Reeling at Year End https://www.ngkf.com/storage-nmrk/uploads/fields/pdf-market-reports/4Q20-Newmark-Cleveland-Office-Market.pdf The CBD loss was 70k in Q4, however it ended up at a net positive of 135k YTD. Edited January 11, 20214 yr by Clefan98
January 11, 20214 yr That's not too bad at all, especially for downtown. A little surprised it was the east side bleeding the most. Also, where is there a 100k sf building under construction on the west side?
January 12, 20214 yr I know Eaton Corp officially moved its HQ from CLE to Ireland to evade US taxes, but didn't realize that Steris did as well. From Crain's today: "STERIS plc (NYSE: STE), the Dublin-based maker of sterilization products with U.S. operations headquartered in Mentor, has agreed to buy Little Falls, N.J.-based Cantel Medical Corp. (NYSE:CMD) in a deal valued at $4.6 billion...." https://www.crainscleveland.com/health-care/steris-agrees-buy-new-jersey-based-cantel-medical-deal-valued-46-billion?utm_source=afternoon-report
January 12, 20214 yr From Wikipedia: "In October 2014, Steris executed a tax inversion from the United States to the United Kingdom, via an offer made to acquire UK-based Synergy Health for $1.9 billion." The new administration is planning to increase the corporate tax rate to 28%. Edited January 13, 20214 yr by skiwest
January 14, 20214 yr Cleveland Industrial Market Report: 4Q 2020 Amidst Chaos, Industrial Market Posts Lowest-Ever Vacancy The fourth quarter of 2020 saw the Greater Cleveland industrial market post positive absorption for the fourth quarter in a row, with a near-historic tally of positive 1,294,802 square feet. This was the third most absorption the industrial market has seen in the last 10 years. As a result, overall vacancy decreased by 30 basis points from the third quarter to 5.1%, which brought the market to its lowest vacancy percentage ever, or at least in the 20 years the market has been tracked. To read the full report, please click the "DOWNLOAD PDF" link. https://email.nmrk.com/collect/click.aspx?u=MkRZdzN5MGJxaVFtZmR4YzZwOWEvV3k4Wnc5bXJmRjBKZ0NqcnVmQ1dGY0ZQMVp4QVRlQk44VUZ3YnNwS2pKbitvbGZKdm5sRjUwV1pKUnhOVHZnV3FtN0RBT3JoSm1jQ2h1K0ZrQXNVQndVNFVsRk5lOFZsbC9ocWovTDU3cEhEc1E5c0pGdU1GbHpmdVd5VzFUMmROcWJqdDhSaHVBN01xOW53anVFRjJ5Y3BiSmZqM1NlbnozZm9QVGxXd3ky&rh=ff014dbd08560c7955f97e283748b2ead927e127 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 18, 20214 yr Surprising that we don't have an I-X Center thread "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 19, 20214 yr 1 hour ago, KJP said: Surprising that we don't have an I-X Center thread Just another instance of us needing change at city hall.
January 20, 20214 yr An updated version of the Rocket Mortgage jobs story now says 700 to 1,000 new jobs. https://www.bizjournals.com/cleveland/news/2021/01/20/cleveland-considering-incentives-for-quicken-loans.html?ana=e_ae_set1&j=90547039&t=Afternoon&mkt_tok=eyJpIjoiTWpNNE5tSXhaalkxTVdFMSIsInQiOiJvbGx0TUpiZzcrMG5qYTV5N0RXdVIzclwvb2wwSW14dEZFUUtPdTJBXC9OSlg5cmNzVkdjUWhvMTd2TzV6b3Q2TnlaRThhTVNZK2NIRUNud1JSRFVtSFBIN0djTHNBRlRFTVpEWStJZ2V5WkVzaVwvYmZqaVU4Z2podHlMbWtURWk4byJ9 Remember: It's the Year of the Snake
January 20, 20214 yr 22 minutes ago, Dougal said: An updated version of the Rocket Mortgage jobs story now says 700 to 1,000 new jobs. Definitely good news. Rocket has a decent sized IT group. Hope those jobs include something other than sales and mortgage support staff.
January 21, 20214 yr 2 hours ago, Dougal said: An updated version of the Rocket Mortgage jobs story now says 700 to 1,000 new jobs. https://www.bizjournals.com/cleveland/news/2021/01/20/cleveland-considering-incentives-for-quicken-loans.html?ana=e_ae_set1&j=90547039&t=Afternoon&mkt_tok=eyJpIjoiTWpNNE5tSXhaalkxTVdFMSIsInQiOiJvbGx0TUpiZzcrMG5qYTV5N0RXdVIzclwvb2wwSW14dEZFUUtPdTJBXC9OSlg5cmNzVkdjUWhvMTd2TzV6b3Q2TnlaRThhTVNZK2NIRUNud1JSRFVtSFBIN0djTHNBRlRFTVpEWStJZ2V5WkVzaVwvYmZqaVU4Z2podHlMbWtURWk4byJ9 Reading the article Kelley says in it its not a done deal and we are competing with Arizona. Hopefully that is the usual empty threat to just get the incentives needed. 1000 jobs is huge especially since they are high paying professional jobs. This alone makes up for us losing out on the R&D for SHW. Then you add Cross Country, jobs being added for SHW headquarters, and Cleveland Cliffs potentially adding lots of new jobs downtown because of the acquisitions. Outlook for Downtown Cleveland definitely is promising.
January 21, 20214 yr A small but very positive item: a grant writing firm from Buffalo is opening a 3-person office in Cleveland. This says there are lots of local geniuses with great ideas who need help writing grant requests and proposals (it's not hard, but there are lots of bureaucratic wickets). Grant writers can be got; it's geniuses that are thin on the ground. https://www.crainscleveland.com/small-business/grant-writing-firm-buffalo-expands-cleveland-market Remember: It's the Year of the Snake
January 25, 20214 yr I'll also post this in the Cleveland Clinic developments thread. We can discuss the construction aspects there as more details become known. But the impact from 1,000 jobs is something we can discuss here..... "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 25, 20214 yr 1 hour ago, KJP said: I'll also post this in the Cleveland Clinic developments thread. We can discuss the construction aspects there as more details become known. But the impact from 1,000 jobs is something we can discuss here..... I found this very interesting in Michelle’s article and am looking forward to what’s shared during today’s 2pm conference. “JobsOhio committed to investing up to $100 million in the Cincinnati project, pairing that money with investments by the anchor institutions. The partners aim to spur the creation of 20,000 jobs and $3 billion in annual economic impact, including $2 billion worth of research and real estate development over a decade.”
January 25, 20214 yr Here is the broader story: https://www.crainscleveland.com/health-care/cleveland-innovation-district-be-seeded-565-million-investment-anchored-planned Quote 'Cleveland Innovation District' to be seeded by $565 million investment, anchored by planned Cleveland Clinic pathogen research center MICHELLE JARBOE January 25, 2021 03:50 PM The state, JobsOhio and the Cleveland Clinic are committing $565 million to creating an innovation hub in Cleveland, anchored by a planned global center for pathogen research on the hospital system's main campus. The state is setting aside $155 million through the Ohio Development Services Agency. JobsOhio, a private nonprofit economic development corporation, will invest $110 million. The Clinic has committed $300 million to projects including its pathogen center, which will rise near the Lerner Research Institute, Mihaljevic said. The partners aspire to bring 10,000 health care and information technology jobs to the region over the next 10 years, spurring the creation of another 10,000 jobs in other fields. The Clinic's pathogen center team, led by Jae Jung, aims to recruit more than 300 scientists The entire district/investment is larger than the Cincinnati one and anchored between the Clinic, UH, Case, Metro, and CSU. They said there is no geographic footprint for it, but I'm guessing most investment will be around the Health Tech Corridor and UC, and probably also around Metro.
January 25, 20214 yr Nice, original naming. The Cleveland Innovation District announced today should not be confused with: The Cleveland Innovation District underway at 66 St. and Euclid.
January 26, 20214 yr On 11/15/2019 at 10:52 PM, MuRrAy HiLL said: London Stock Exchange Group announced that it will open its North American headquarters in Cleveland, Ohio. https://ukinvestormagazine.co.uk/london-stock-exchange-opens-north-american-headquarters-in-cleveland-ohio/ I have not heard anything about this lately. I assume it was put on hold due to Covid. Hopefully, it will still happen. Edited January 26, 20214 yr by skiwest
January 26, 20214 yr https://www.bizjournals.com/cleveland/news/2020/06/12/stark-county-minority-businesses-named-to-elite.html They have been doing some stuff!
January 28, 20214 yr BLS data for December are poor but as in previous months don't really make sense... https://www.bls.gov/regions/midwest/oh_cleveland_msa.htm
January 28, 20214 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 28, 20214 yr 18 minutes ago, KJP said: Wow. I hope this is just the old Allard hyperbole fastball. Hyland is consistently rated one of the top workplaces.
January 29, 20214 yr Definitely not good news, especially for the workers involved. Certainly smacks of typical corporate greed. To be fair though, Scene left out one big part that Crains reported on - even including these layoffs, Hyland still plans to have 300 more workers at the end of this year than they did at the start.
January 29, 20214 yr 1 hour ago, PoshSteve said: Definitely not good news, especially for the workers involved. Certainly smacks of typical corporate greed. To be fair though, Scene left out one big part that Crains reported on - even including these layoffs, Hyland still plans to have 300 more workers at the end of this year than they did at the start. Is the 300 more workers at the Westlake location?
January 29, 20214 yr As someone whose worked there and seen the 2020 financial statements, it’s frankly disgusting. Like I’m talking higher than Apple profit margins. I understand evolving business needs but if your gonna fire someone, at the very least schedule a one on one with someone from HR. It’s just so disheartening.
January 29, 20214 yr 8 hours ago, KJP said: I wonder if it's a particular skill that was eliminated. I once laid off some COBOL programmers who refused retraining in a more modern language. Remember: It's the Year of the Snake
Create an account or sign in to comment