A press release....

 

https://www.prnewswire.com/news-releases/generational-equity-expands-with-new-office-in-cleveland-ohio-300734023.html

 

Generational Equity Expands with New Office in Cleveland, Ohio

NEWS PROVIDED BY

Generational Equity 

04:01 ET

 

DALLAS, Oct. 25, 2018 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce continued expansion of the firm with the opening of a new office in Cleveland, Ohio.

 

The Cleveland office is located at 5005 Rockside Road #600, Independence, Cleveland OH 44131 and its phone number is 440-582-2331.

 

The new office is led by Mr. Doug Smith, Senior Managing Director and Group Leader, Midwest US. "The Midwest is an attractive M&A market with many companies that offer growth opportunities to other businesses looking to expand, and to private equity firms that wish to invest," said Smith. He adds, "This office, along with the recent addition of Columbus, OH, and our long-standing office in Chicago, bolsters our visibility and coverage of the Midwest business and M&A markets."

 

Mr. Smith has extensive experience in various aspects of the mergers and acquisitions industry, which includes managing large teams of business analysts and leading deal-making groups. He held an executive leadership role with a company in the technology industry and was involved in the sale of that business to a Fortune 500 company. He joined Generational in 2006.

 

"Our company continues to implement its strategic plan to open more offices in the key target markets across North America in an ongoing effort to better serve middle market businesses," said Brenen Hofstadter, Chief M&A Officer of Generational Group. "Doug has been a key leader in our business for a long time and brings a wealth of experience to our clients. Our practice in the Midwest is growing under his leadership."

 

Generational Equity is one of the leading M&A advisory firms in North America, having won multiple industry awards, including Investment Banking Firm of the Year in 2017 and 2016, Valuation Firm of the Year in 2015 and 2014, as well as M&A Consulting Firm of the Year in 2013 and 2011. The firm has solidified its leadership position by providing world-class client service and unmatched deal making capabilities. According to Thomson Reuters, no M&A advisor has closed more deals in the lower middle market than Generational Equity over the past several years.

 

About Generational Equity

 

Generational Equity, DealForce, and Generational Capital Markets, member FINRA/SIPC, are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America. With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition and strategic growth advisory services. Their four-step approach features exit planning education, business valuation, value enhancement strategies, and M&A transactional services.

 

For more, visit the https://www.genequityco.com/ or the Generational Equity press room.

 

For more information:
Carl Doerksen
972-232-1125
[email protected]

 

SOURCE Generational Equity

Related Links

http://www.genequityco.com

Edited October 26, 20186 yr by KJP

Wages, manufacturing demand, hiring on the rise in Ohio: Fed says

https://articles.cleveland.com/business/index.ssf/2018/10/wages_manufacturing_demand_hir_1.amp

 

 

How frustrating... building on spec in Medina and Stark counties because available land isn't plentiful in Cuyahoga county, while abandoned warehouses abound in the inner city and a large population who could work in those warehouses lives In the city to begin with.

 

I couldnt be happier the local economy is finally rebounding back, but this is backwards. Thanks CERCLA.

Dallas M&A firm opens office where outsourcing companies are booming

By Jon Prior  – Staff Writer, Dallas Business Journal
Oct 26, 2018, 2:44pm CDT

 

Dallas advisory firm Generational Equity has opened a new office in Cleveland, in part to take advantage of a growing number of mid-sized outsourcing companies that may be changing hands there.  

 

This will be the second outpost the firm has opened in Ohio after establishing an office in Columbus in August. The Cleveland position, along with Generational's office in Chicago, gives the firm a stronger foothold to do deals in the Midwest. 

 

Professional services firms, or companies that do specialty tasks, have become a hot commodity among private investors as corporations are more willing to outsource the work than pay high-salaried employees in a tight labor market.

 

“From our research Cleveland’s economy is growing solidly, particularly in the professional services sector, and their economy is the 28th largest in the U.S.,” Generational Director of Corporate Development Carl Doerksen told the Dallas Business Journal.
 

MORE:

https://www.bizjournals.com/dallas/news/2018/10/26/dallas-m-a-firm-opens-office-where-outsourcing.html

 

Another 40 for downtown...

 

Progressive to open downtown Cleveland 'strategy' office, staffed with up to 40 people

Updated Nov 1, 4:36 PM; Posted Nov 1, 3:50 PM

 

By Michelle Jarboe, The Plain Dealer

[email protected]

 

CLEVELAND, Ohio -- Progressive Corp., which moved its headquarters from downtown Cleveland to the suburbs in 1974, is making a foray back into the city.

 

The Mayfield-based insurance giant said Thursday that it plans to move a "strategy team" of up to 40 people into leased space in the Warehouse District next year. A spokesman, Jeff Sibel, said Progressive is close to signing a lease for 9,000 square feet at 800 W. St. Clair Ave. That office is likely to open in the spring.

 

Sibel stressed that Progressive doesn't have bigger plans downtown.

 

More at:  http://realestate.cleveland.com/realestate-news/2018/11/progressive_to_open_downtown_c.html

 

Edit:  That's the "Cleveland Chop" building in the Parking Lot District.

 

 

Edited November 2, 20186 yr by Oldmanladyluck

@Oldmanladyluck We've been discussing it in the office developments thread.

 

 

"Sibel stressed that Progressive doesn't have bigger plans downtown."

 

why make such a point--to not get anyone's hopes up? Seems like a strange thing to say. At the very least it says, "our new strategy group will probably not grow."

The article singles out Cleveland with some smaller cities, then references "bigger" cities...

 

The U.S. just added 250,000 jobs — here’s which cities need workers

By Alessandra Malito

Published: Nov 2, 2018 4:26 pm ET

 

Still, there are some cities with more jobs than there are people to fill them, according to Livability.com, a real-estate site focused on small-to-medium sized cities. Livability looked at small to mid-size cities, focusing on regions with low unemployment rates and high numbers of unfilled job openings.

 

The site found some of the best spots for job-seekers include:

 

• Rochester, Minn.

• Ames, Iowa

• Murfreesboro, Tenn.

• Burlington, Vt.

• Chandler, Ariz.

• Fargo, N.D.

• Cleveland, Ohio

• Colorado Springs, Colo.

• Cullman, Ala.

 

.....Of course, bigger cities have plenty to offer job-seekers, too. Pittsburgh, St. Louis, Indianapolis, Cincinnati and Hartford, Conn. made the list of best cities for jobs in 2018, according to a study by jobs site Glassdoor. 

 

More:

https://www.marketwatch.com/story/despite-rosy-jobs-numbers-these-cities-still-need-plenty-of-workers-2018-11-02

The funny thing is cleveland has more people than every city you listed except for Indy, and even then, cleveland has a much larger metro than Indy.

Do not underestimate the significance of Progressive having a presence downtown.  This is not a token move.

Crain's had quite a few general economic news articles for Cleveland today....

 

Pittsburgh MSA has about 100,000 more jobs than Cleveland MSA right now, but then again, Pittsburgh MSA has 300,000 more people. And Cleveland's job growth in recent months is at least four times more than Pittsburgh's. Will it last? Is it sustainable? Who knows and, really, who cares? Learn from yesterday. Win today. Fight again tomorrow.

 

Pittsburgh has big edge on Cleveland in tech, philanthropy

https://www.crainscleveland.com/government/pittsburgh-has-big-edge-cleveland-tech-philanthropy

 

 

Downtown Cleveland, University Circle hotel market ‘coming together'

Downtown Cleveland and University Circle hotels crossed a threshold last July that once might have been thought unreachable: The number of rooms sold surpassed July 2016 during the Republican National Convention, according to data from lodging data and analytics provider STR.

https://www.crainscleveland.com/real-estate/downtown-cleveland-university-circle-hotel-market-coming-together

 

 

Team NEO mapping out industrial Internet of Things plan

Team NEO's newest technology "roadmap" is focused on the industrial Internet of Things, and it could support companies that make those products, as well as those that buy and use them.

https://www.crainscleveland.com/manufacturing/team-neo-mapping-out-industrial-internet-things-plan

 

Cryptocurrency mining data center elevates NEO tech firm to new heights

With its slew of techie buzzwords, a cryptocurrency mining facility may sound like something that belongs in Silicon Valley or other coastal tech hubs — or possibly even the closet of that computer whiz you wrote off years ago when she told you to buy Bitcoin because it could eventually replace the dollar — rather than Northeast Ohio.

https://www.crainscleveland.com/finance/cryptocurrency-mining-data-center-elevates-neo-tech-firm-new-heights

 

 

Roundtable: Younger local leaders weigh in on what they think Northeast Ohio needs

To get a grasp on what leadership means, Crain's invited a small group of younger local leaders to a roundtable to talk about what kind of leadership the region needs.

https://www.crainscleveland.com/government/roundtable-younger-local-leaders-weigh-what-they-think-northeast-ohio-needs

 

Edited November 4, 20186 yr by KJP

On 11/3/2018 at 9:56 AM, newyorker said:

Do not underestimate the significance of Progressive having a presence downtown.  This is not a token move.

 

It pretty much is.   That's a very insular company, they are likely intentionally separating this group to keep an outside the box(es) perspective.

 

If they did have their downtown building people would complain that they never left it except to drive home....from their own garages.

 

 

Just now, KJP said:

Pittsburgh MSA has about 100,000 more jobs than Cleveland MSA right now, but then again, Pittsburgh MSA has 300,000 more people. And Cleveland's job growth in recent months is at least four times more than Pittsburgh's. Will it last? Is it sustainable? Who knows and, really, who cares? Learn from yesterday. Win today. Fight again tomorrow.

 

Pittsburgh has big edge on Cleveland in tech, philanthropy

https://www.crainscleveland.com/government/pittsburgh-has-big-edge-cleveland-tech-philanthropy

 

Thanks to Akron et al, Cleveland CSA has about a million more people than Pittsburgh's.     The separation between the two MSAs is really rather artificial, they blend rather thoroughly in the northern Summit County borderlands that don't entirely identify as either.

Irrelevant. Bureau of Labor measures job growth/loss at the MSA level.

Edited November 5, 20186 yr by KJP

^Agreed which is why it's good to look at the BLS statistics for Akron as well, which is pretty good on its own. Canton/Massillon is it's own MSA as far as the BLS is concerned and is continuing to struggle. However, the good news is that all three listings are growing in employment, with Cleveland taking nice leaps this year. The big picture for those of us who like urban design and planning is that with more jobs there WILL be more people. We can hopefully soon start talking about regional growth instead of stagnation and the doughnut effect.

Edited November 5, 20186 yr by Oldmanladyluck

11 hours ago, Oldmanladyluck said:

^Agreed which is why it's good to look at the BLS statistics for Akron as well, which is pretty good on its own. Canton/Massillon is it's own MSA as far as the BLS is concerned and is continuing to struggle. However, the good news is that all three listings are growing in employment, with Cleveland taking nice leaps this year. The big picture for those of us who like urban design and planning is that with more jobs there WILL be more people. We can hopefully soon start talking about regional growth instead of stagnation and the doughnut effect.

 

I would guess Cleveland and Akron each rank among the MSAs with the highest percentage of their workforce living outside the MSA.

4 hours ago, E Rocc said:

 

I would guess Cleveland and Akron each rank among the MSAs with the highest percentage of their workforce living outside the MSA.

 

According to the Census’ OnTheMap program, in 2015, the following percent of employed workers both lived and worked within their MSA:

 

Cleveland: 83.9% of people that lived in the MSA worked in the MSA

Akron: 60.0%

Columbus: 85.2%

Detroit: 86.4%

Cincinnati: 84.0%

Pittsburgh: 89.2%

Edited November 6, 20186 yr by CbusTransit

Just now, CbusTransit said:

 

According to the Census’ OnTheMap program, in 2015, the following percent of employed workers both lived and worked within their MSA:

 

Cleveland: 83.9% both lived and worked in the Cleveland MSA

Akron: 60.0%

Columbus: 85.2%

Detroit: 86.4%

Cincinnati: 84.0%

Pittsburgh: 89.2%

 

Based on Akron's number I would guess that's percent of residents, not percent of workers.

 

That 60% would largely be people who live in Twinsburg, the Nordonia burbs, Hudson, Richfield, etc.

60% of employed people living in Akron’s MSA also work in the Akron MSA.

 

that is,

191,132 are both employed and live in the Akron msa

127,817 are employed in the Akron MSA but live outside it

127,573 live in the Akron MSA but are employed outside it

 

so yes, for those percentages, the denominator is total number of people with jobs living in the MSA

What % of Cleveland's workers come from outside of the MSA?  If I understand correctly, your stats only show what % of Cleveland MSA workers work inside and outside of the Cleveland MSA.

The WSJ says GE will sell GE Current to AIP, a NY private equity firm.  This probably includes some or all of NELA Park.  Hard to say yet if this is good or bad for Cleveland. Another version of the story (Bloomberg) says GE Lighting will be sold separately soon.

 

https://www.wsj.com/articles/general-electric-to-sell-led-business-to-american-industrial-partners-1541507976?mod=yahoo_hs&yptr=yahoo

 

Edit: more clarity from https://www.crainscleveland.com/manufacturing/ge-sell-commercial-lighting-unit-current-new-ceo-extends-overhaul

The deal does NOT include NELA Park

This is a pretty big deal for the company. In less than two months, Victory Capital will have nearly tripled its size, measured by assets under management. I doubt it will mean a whole lot for local employment numbers, but they will now have a big branch in San Antonio.

 

https://www.crainscleveland.com/finance/victory-capital-gets-even-bigger-purchase-usaas-asset-management-business

Just now, Dougal said:

This is a pretty big deal for the company. In less than two months, Victory Capital will have nearly tripled its size, measured by assets under management. I doubt it will mean a whole lot for local employment numbers, but they will now have a big branch in San Antonio.

 

https://www.crainscleveland.com/finance/victory-capital-gets-even-bigger-purchase-usaas-asset-management-business

 

Seriously, this is HUGE news!

 

The acquisition, which includes USAA's 529 College Savings Plan, is expected to close in the second quarter of 2019, pending regulatory and shareholder approvals.

 

As an owner / contributor to a USAA 529K plan, I approve of the acquisition on a personal level as well. ?

 

Edited November 7, 20186 yr by MuRrAy HiLL

Just now, MuRrAy HiLL said:

Seriously, this is HUGE news!

 

It raises Victory from 204th in size at the end of 2017 to about 100th among US asset managers. That's a big jump and makes them more of an acquirer than a target in the future. Cleveland needs more of those.

(Fair disclosure: I own some shares in Victory as well as in a couple of their ETFs.)

Raider Hill Advisors Expands to Cleveland

PRNewswire   FOLLOW 

November 13, 2018 8:07am   Comments

 

NEW YORK and CLEVELAND, Nov. 13, 2018 /PRNewswire/ -- Raider Hill Advisors today announced the opening of an office in Beachwood, OH, an eastern suburb of Cleveland. The Cleveland office will house Raider Hill's leasing and development teams with capacity for future expansion.

 

...Bryan Zabell, Managing Director and Executive Vice President of Leasing will lead Raider Hill's Cleveland office. "I am thrilled to have joined Raider Hill at such an interesting time for both our company and the ever-changing retail real estate industry.  I take great pride and joy in opening a new office in my home town of Beachwood," said Mr. Zabell. To that end, Raider Hill has an immediate opening for a Leasing Manager to join its growing team in Cleveland.

 

MORE:

https://www.benzinga.com/pressreleases/18/11/r12684088/raider-hill-advisors-expands-to-cleveland

15 hours ago, KJP said:

Raider Hill Advisors Expands to Cleveland

PRNewswire   FOLLOW 

November 13, 2018 8:07am   Comments

 

NEW YORK and CLEVELAND, Nov. 13, 2018 /PRNewswire/ -- Raider Hill Advisors today announced the opening of an office in Beachwood, OH, an eastern suburb of Cleveland. The Cleveland office will house Raider Hill's leasing and development teams with capacity for future expansion.

 

...Bryan Zabell, Managing Director and Executive Vice President of Leasing will lead Raider Hill's Cleveland office. "I am thrilled to have joined Raider Hill at such an interesting time for both our company and the ever-changing retail real estate industry.  I take great pride and joy in opening a new office in my home town of Beachwood," said Mr. Zabell. To that end, Raider Hill has an immediate opening for a Leasing Manager to join its growing team in Cleveland.

 

MORE:

https://www.benzinga.com/pressreleases/18/11/r12684088/raider-hill-advisors-expands-to-cleveland

 

It's interesting that a real estate investment advisement firm is opening a branch here. Aside from the connection to Beachwood, I guess it speaks to the existing and growing interest in Northeast Ohio from outside investors.

1 hour ago, Mov2Ohio said:

 

It's interesting that a real estate investment advisement firm is opening a branch here. Aside from the connection to Beachwood, I guess it speaks to the existing and growing interest in Northeast Ohio from outside investors.

 

Funny you should mention that theme -- it is the theme for my next blog!

Another example...

 

 

 

Business, civic leaders plan a new Cleveland economic strategy

https://www.crainscleveland.com/government/business-civic-leaders-plan-new-cleveland-economic-strategy

 

And

 

Appreciative Inquiry to drive inclusive, civic effort to improve Cleveland’s economy

https://www.cleveland.com//news/2018/11/appreciative-inquiry-to-drive-inclusive-civic-effort-to-improve-clevelands-economy.html

Edited November 16, 20186 yr by KJP

MONDAY, NOVEMBER 19, 2018

Cleveland's profile soars among out-of-state investors

 

Presidential candidate Ross Perot in 1992 famously referred to a "huge sucking sound" when it came to jobs leaving the USA. When money starts pouring into a city like Cleveland, it ought to make a sound, too. It is, and people are noticing.

Since the late 20th century, capital investment in Cleveland typically came from wealthy Clevelanders who loved their community and wanted to give something back to it. It was done in the name of altruism, not a healthy return. Indeed, local real estate investors who had to answer to out-of-town shareholders -- especially the highly demanding folks on Wall Street -- could never hope to justify investing in Cleveland. It's why publicly traded firms like Forest City Enterprises had stopped investing locally and instead directed their efforts toward coastal markets plus a few booming inland cities like Atlanta, Chicago, Dallas and Denver.

But nothing ever stays the same. Real estate markets get over-crowded with investors and overheat. Some get overbuilt. That's when real estate investors start looking for the next big thing. And they start looking for bargains.

 

Enter Cleveland.

 

MORE:

http://neo-trans.blogspot.com/2018/11/clevelands-profile-soars-among-out-of.html

Edited November 19, 20186 yr by KJP

And..... As a follow to my posting above, the amazing job growth numbers are continuing. October BLS data has come in as a still-sweltering 2.5 percent increase in jobs for Greater Cleveland. September got revised downward a bit from 2.7 to 2.4, but still a very healthy number. Only one sector still lags, information. Every thing is growing, and in some cases growing very strongly....

 

https://www.bls.gov/eag/eag.oh_cleveland_msa.htm

 

A friend of mine who grew up in East Cleveland doesn't think these job reports are sustainable. He couldn't find a job in his field (transportation planning) here so he moved to California. He's a bit angry because he likes it here and had to temporarily leave his wife and children behind. So when he sees me sharing these jobs reports and my positive blogs, his short fuse gets lit. His main claim is a shallow protest that the jobs numbers aren't sustainable because manufacturing jobs aren't sustainable. He says they're the result of a trade war that, even if it continues beyond Trump, will soon be negated by automation. This is debatable as not all jobs are replaceable and not employers can afford to automate. Even so, he cannot see that our jobs growth is broad-based. Of the 10 jobs sectors, eight are experiencing consistent job growth this year (and last year wasn't too shabby either). And consider that manufacturing, undoubtedly the fastest growing job sector in 2018, is merely the middle of the pack when ranking  jobs per sector in the October 2018 report...

 

1. Education and Health Services -- 207.5
2. Trade, Transportation, and Utilities -- 189.9
3. Professional and Business Services -- 160.7
4. Government -- 139.0
5. Manufacturing -- 127.6
6. Leisure and Hospitality -- 108.3
7. Financial Activities -- 66.8
8. Mining, Logging, and Construction -- 40.1
9. Other Services -- 39.6
10. Information -- 13.8

 

Also note that the two weakest sectors in Greater Cleveland's job growth picture are also its two smallest in terms of total jobs. So they're not really hurting the overall numbers so much.

Edited November 19, 20186 yr by KJP

Oh, and yes Cleveland's job growth continues to outpace that of any other Ohio metro area and of Pittsburgh's with whom we're supposedly not keeping up.

I stated this before but it was on the day when everything got deleted. Also extremely encouraging in the albeit preliminary report is that employment is up 19k YOY and the labor force is up 17k. If these numbers hold over several months  and do not get revised, I believe they are signs of population growth.

Edited November 20, 20186 yr by cle_guy90

I've noticed that metro population is typically double the labor force. If that's the case here, could we be looking at a population increase of 30,000 to 35,000 in Greater Cleveland over the past year? I know that doesn't seem like much, but over a decade, that's a 300,000+ incease. One can hope that this growth will be sustained. 

Love these young entrepreneurs!

 

Gustave Molnar, 35

CEO, Gustave Development; President’s Club Banker,Quicken Loans

https://www.crainscleveland.com/awards/gustave-molnar-forty-2018

 

1 hour ago, KJP said:

I've noticed that metro population is typically double the labor force. If that's the case here, could we be looking at a population increase of 30,000 to 35,000 in Greater Cleveland over the past year? I know that doesn't seem like much, but over a decade, that's a 300,000+ incease. One can hope that this growth will be sustained. 

 

If this growth is sustained, we'll definitely be looking at population growth.  Also, IF this growth is sustainable (hopefully it is), Cleveland's regional employment numbers will surpass their peak within the past 30 years by 2020 or 2021.

 

Here's why that's important:  Cleveland has yet to recover from the 2002 recession (post NAFTA).  Cleveland's numbers don't point to NAFTA being a positive for the region.  That isn't being political, it's just what the numbers show.  The Great Recession pushed the region even further back, to employment levels below where the region was in 1992.  That's what this region has had to overcome.  

 

Maybe it's just me- but when I go to a city that I know is growing and has positive momentum, it just feels different than here.  That's not putting Cleveland down at all- it's just what I'm used to seeing here regarding sprawl without growth along with the abandonment of inner-city and now inner-ring neighborhoods and communities.  Every city will have their areas where disinvestment occurs- it's just that I've seen disinvestment only grow worse here locally during my entire adult life (I'm 35) and would love for things to change.  A big part of that change is directly tied to jobs being created in and returning to the region.,  

 

A future recession WILL come, but who knows when.  My hope is that the region is now (finally) diversified enough to take a hit during a recession and bounce back much sooner than it has been able to in the past.

Interesting comments from local and national real estate investors...

 

https://www.biggerpockets.com/forums/731/topics/492802-this-article-gave-me-second-thoughts-on-investing-in-cleveland-oh

^ Always interesting to read those views. I can say most of the money buying rentals in the area has not been local, but rather has been from out of state - particularly from California, and to a lesser extent NY. Alot of the investors are not large portfolio holders, but buy one or two properties to supplement their income to better afford the high cost of living there. Many of these investors here unfortunately get scammed by relaying on less than trustworthy local agents or outdated photos/google street view, and don't even view the properties themselves before buying. One I had experience with bought a house based off of years old pictures and assurances by the seller and didn't realize the house had become completely run down and subsequently been demolished by the city. It can be a huge gamble, and I've really got to hand it to these folks who take it, but if you get burned, you can really get burned.

Evergreen Cooperatives launches fund to catalyze employee ownership. The Cleveland-based cooperative employs and trains 250 low-income, low-skilled workers through three employee-owned business. Now, Evergreen Cooperatives is raising a fund to help existing businesses convert to a cooperative model, reports Next City. The Fund for Employee Ownership is targeting the 63% of U.S. private businesses owned by Baby Boomers who may be looking for a succession plan (see, “Building a 21st-century economy that works for working people”). The fund has raised $5 million in convertible debt from an unnamed investor to buy out current owners and convert the business to cooperatives. Dive in.

 

https://impactalpha.com/infrastructure-pipe-dreams-podcast-catalyzing-employee-ownership-in-cleveland-vulcan-backs-capria-filling-capital-gaps-in-opportunity-zones/

Interesting thing I learned today is that REITs are showing a lot of interest in Cleveland. The reasons? First, like I reported in my blog (Cleveland's profile soars among out-of-state investors), the East Coast real estate market has gotten very crowded especially with foreign investment. And second, REITs are willing to accept lower rates of return on their real estate investments than other Wall Street-traded firms and even at lower rates than altruistic local investors.

 

Increasingly, between that and rising rents locally, fewer subsidies are going to be needed for major developments. In the case of the latest Lakewood development, they aren't seeking any subsidies at all.

 

Edited November 30, 20186 yr by KJP

37 minutes ago, KJP said:

 

Increasingly, between that and rising rents locally, fewer subsidies are going to be needed for major developments. In the case of the latest Lakewood development, they aren't seeking any subsidies at all.

 

And yet many Lakewoodites are complaining and saying new housing isn't necessary.

If there's anything I've learned over the years it's that people love complaining about new development.

^ most people just don't like change at all. 

Tech-hub News. https://www.news5cleveland.com/news/e-team/blockland-conference-bringing-together-big-names-in-blockchain-trying-to-make-cleveland-a-tech-hub

Just learned about a new billion-dollar company headquartered in Cleveland -- Garland Co., which makes and sells roofing and other materials for construction. And its headquartered is in a very unlikely location -- on East 91st Street, between Aetna and Broadway avenues. It's fast-growing. Just a couple of years ago, it had "only" a half-billion dollars in annual revenue. But they've been buying up successful domestic and international competitors and expect to finish 2018 with $1 billion in gross revenue. They have about 400 employees at their Cleveland HQ and manufacturing operation on East 91st with another 1,000 around the world. Most of the information about them on the Web is out of date as they try to stay quiet, and when I asked if they would ever consider relocating their HQ from the 'hood to a more prominent location, the person said that's not their M.O. They are a very low-key, private company.

 

These are the kinds of local business success stories that aren't being told in the local media. No wonder so many people think Greater Cleveland's economy stinks.

Edited November 30, 20186 yr by KJP

19 hours ago, freefourur said:

^ most people just don't like change at all. 

 

Great quote....

 

"Change is hard, but if you don’t like change, you’ll like irrelevance even less,” said Horrigan, the Akron mayor. “I’m not going to manage my own decline.”"

https://www.washingtonpost.com/realestate/the-other-housing-crisis-cities-where-home-prices-are-low-because-people-have-left/2018/11/28/9eec6b3a-cb19-11e8-920f-dd52e1ae4570_story.html

2 hours ago, KJP said:

 

Great quote....

 

"Change is hard, but if you don’t like change, you’ll like irrelevance even less,” said Horrigan, the Akron mayor. “I’m not going to manage my own decline.”"

 

 

Sort of like Churchill's  "I have not become the Kings First Minister in order to preside over the liquidation of the British Empire." But that's exactly what Churchill did.

 

Let's hope it works out better for Horrigan.