December 3, 20195 yr 2 minutes ago, Mendo said: The only article I can find about Cliff's headquarters was from 2008 when they moved to 200 Public Square. At the time they had just 140 HQ employees with plans to add 80 more. https://www.cleveland.com/business/2008/07/clevelandcliffs_moving_headqua.html Sounds like Cliffs Natural Resources added a few more jobs than expected. It's hard to say what Cliffs HQ employment is here. I have a hard time believing it's anywhere near 1,000. But the square footage they're leasing suggests it is. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 3, 20195 yr 5 minutes ago, KJP said: Sounds like Cliffs Natural Resources added a few more jobs than expected. It's hard to say what Cliffs HQ employment is here. I have a hard time believing it's anywhere near 1,000. But the square footage they're leasing suggests it is. Agreed it's probably a lot more than the 220 they planned for in 2008. I forgot they leased that much space since then. Thanks for the reminder. https://www.crainscleveland.com/article/20110606/FREE/306069966/cliffs-adds-space-at-downtown-hq Quote Combined with Cliffs' existing global headquarters on floors 33, 34 and part of 32, the new space on floors 30 and 31 and subleased space on floor 5 give the company nearly 200,000 square feet in the building. It leased 70,000 square feet when the big iron ore producer moved its global headquarters to the building in 2008, said Brian Boehmcke, managing director of the tower's owner, Harbor Group International of Norfolk, Va. Edited December 3, 20195 yr by Mendo
December 3, 20195 yr So Ken, I don't know if you addressed it, but are the AK Steel white collar jobs moving to Cleveland, or will CLF maintain two separate HQs?
December 3, 20195 yr 1 hour ago, smith said: My CLF stock certainly ain't growing today...... AK is a risky purchase for CLF; the world is awash in steel capacity these days. Goncalves, however, has a rep for making these things work. Now we wait for the City Block/Bedrock announcement due today ... I'm guessing the Cleveland press will cover this one. Edited December 3, 20195 yr by Dougal Remember: It's the Year of the Snake
December 3, 20195 yr 58 minutes ago, PaxtonMarley said: So Ken, I don't know if you addressed it, but are the AK Steel white collar jobs moving to Cleveland, or will CLF maintain two separate HQs? The HQ will be here in Cleveland. Most integrated steel mills like the Middletown Works have a plant office with a 100 or more jobs including payroll, engineering, labor relations, safety inspectors and the like. Plus AK Steel has its research facility there so I suspect that that also may count toward some of the "significant presence" that will be retained in that area. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 4, 20195 yr 10 hours ago, KJP said: Somera Road's totally empty 564,976-square-foot Ellipse -- BROCHURE. The Ellipse looks like a really nice space. Thanks for the link to the brochure.
December 4, 20195 yr Quote If only our local media paid as much attention to the employment wins as it does to the losses, or even the hollow threat of a potential loss, we might realize the jobs growth that is occurring here. My question is when is the local media going to call @KJP with a job offer the way he's been kicking their butts lately.
December 4, 20195 yr 1 hour ago, mu2010 said: My question is when is the local media going to call @KJP with a job offer the way he's been kicking their butts lately. After seeing my article yesterday, an editor for a local media outlet contacted me yesterday to explain why they didn't have the Cliffs-AK story until the afternoon. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 4, 20195 yr 45 minutes ago, KJP said: After seeing my article yesterday, an editor for a local media outlet contacted me yesterday to explain why they didn't have the Cliffs-AK story until the afternoon. And what was the reason??????
December 4, 20195 yr 10 minutes ago, mack34 said: And what was the reason?????? Not everyone was back from vacation. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 4, 20195 yr KJP: "another Fortune 500 company will establish its corporate headquarters in downtown Cleveland." I thought Cliffs is acquiring AK Steel. So Cleveland Cliffs may get more people, revenue, office space needs, etc. through the acquisition, but no new company is moving its HQ to Cleveland in this deal as AK will cease to exist, no? Am I missing something here?
December 4, 20195 yr 33 minutes ago, Pugu said: KJP: "another Fortune 500 company will establish its corporate headquarters in downtown Cleveland." I thought Cliffs is acquiring AK Steel. So Cleveland Cliffs may get more people, revenue, office space needs, etc. through the acquisition, but no new company is moving its HQ to Cleveland in this deal as AK will cease to exist, no? Am I missing something here? That's correct. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 4, 20195 yr Just now, Pugu said: ^So what's the new Fortune 500 company moving its corporate HQ to Cleveland? Cleveland Cliffs will become a fortune 500 company after the merger.
December 4, 20195 yr Just now, skiwest said: Wasn't Cleveland Cliffs already Fortune 500 company? Fortune 1000 but not Fortune 500
December 4, 20195 yr 9 minutes ago, Pugu said: ^So what's the new Fortune 500 company moving its corporate HQ to Cleveland? Why do you keep saying "moving?" No one said a Fortune 500 company HQ is moving to Cleveland. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 4, 20195 yr ^Okay....but you said, ""another Fortune 500 company will establish its corporate headquarters in downtown Cleveland." Are you referring to Cliffs? If so, I get it now--they were a Fortune 1000, but now will be a Fortune 500. But its confusing as Cliffs has already "establish[ed] its corporate headquarters in downtown Cleveland" - the real change is they are joining the 500 list.
December 4, 20195 yr So an already fortune 500 company (Cleveland Cliffs) is acquiring AK Steel, which will grow them in size with the merger, but they (Cleveland Cliffs) will still remain and existing fortune 500?
December 4, 20195 yr Cliffs isn't a Fortune 500 company. It was, and it will be again after it absorbs AK. And it will add jobs here in Cleveland. Clear? "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 4, 20195 yr 28 minutes ago, KJP said: Cliffs isn't a Fortune 500 company. It was, and it will be again after it absorbs AK. And it will add jobs here in Cleveland. Clear? Gotcha, thanks for clarifying, I read it wrong. My bad, all the "combined" lingo at the start of the article threw me off for a second. ? Didn't mean to poke the UO Cleveland Bear ?
December 4, 20195 yr 1 minute ago, Gnoraa said: Gotcha, thanks for clarifying, I read it wrong. My bad, all the "combined" lingo at the start of the article threw me off for a second. ? Didn't mean to poke the UO Cleveland Bear ? I'm no bear. I'm just a mutt. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 4, 20195 yr 2 hours ago, KJP said: Why do you keep saying "moving?" No one said a Fortune 500 company HQ is moving to Cleveland. Fortune 500 company HQ is coming to downtown Cleveland "Coming to" suggests movement. Cliffs is already here. I still think your headline is misleading. Your work on top notch on-target and so I would hate to see any credibility taken away from you for a 'Grab your attention' - type title. The only thing coming/moving is Cliffs' place on the Fortune 500 list. Edited December 4, 20195 yr by Pugu
December 5, 20195 yr 21 hours ago, Pugu said: Fortune 500 company HQ is coming to downtown Cleveland "Coming to" suggests movement. Cliffs is already here. I still think your headline is misleading. Your work on top notch on-target and so I would hate to see any credibility taken away from you for a 'Grab your attention' - type title. The only thing coming/moving is Cliffs' place on the Fortune 500 list. As I would say to my six-year-old son "OK, Mister Literal..." "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 5, 20195 yr Speaking of new F500 companies, Cleveland's Transdigm, which will probably rank somewhere just north of 500 when the 2019 list comes out, has been quiet lately. Meanwhile mostly-aerospace manufacturer Moog (sales about $3 billion a year, based near Buffalo) is having margin contraction problems and is selling at a P/E ratio in the mid-teens. Moog's Class A stock has jumped about $4 yesterday and this morning (almost 5%). I wonder if another merger is in the offing. (Fair disclosure: I'm long MOG shares and short puts.) Remember: It's the Year of the Snake
December 5, 20195 yr Speaking of Cleveland companies---I just met someone last week from a giant, impressive firm I never heard of: Sotera Health---apparently its the parent of three other companies and is based in Cleveland (in Broadview Hts.) This is ONE of the three sub-companies: Nelson Labs: "We are over 850 scientists, technicians and service specialists diligently performing more than 700 rigorous microbiological and analytical tests in 13 global laboratory locations." Would love to see Soltera in a proper Downtown office space. A global company like that needs a more prestigious address than Broadview Hts! https://soterahealth.com/
December 6, 20195 yr On 12/5/2019 at 12:01 PM, Pugu said: Speaking of Cleveland companies---I just met someone last week from a giant, impressive firm I never heard of: Sotera Health---apparently its the parent of three other companies and is based in Cleveland (in Broadview Hts.) This is ONE of the three sub-companies: Nelson Labs: "We are over 850 scientists, technicians and service specialists diligently performing more than 700 rigorous microbiological and analytical tests in 13 global laboratory locations." Would love to see Soltera in a proper Downtown office space. A global company like that needs a more prestigious address than Broadview Hts! https://soterahealth.com/ Interesting, but playing Devils Advocate, why do you feel they need a "Downtown" address? Why not UC or Fairfax vs. Downtown? What would be the advantage of a new location? What would it cost to the company (real estate, culture, employee compensation. Will they attracted enough white color and not skilled workers going forward? Is this a company that wants to be part of an urbane community and partner with the businesses in the community to improve it? What is the bottom line cost for a move and what research supports it? This is all hypothetical, but many of the question I asked are realistic.
December 7, 20195 yr ^I was talking from a prestige address. But beyond that--in terms of something more tangible---they may be able to attract more talent if they were downtown vs. broadview hts. If I were in that field and were offered two jobs---one downtown and one in the southern burbs, if all other things were relatively equal (pay, benefits, good boss, good co-workers, interesting work, etc.), I'd take the one downtown in a second. Of course, land is far cheaper out there and they probably own their own bldg with parking in front, etc. I get it. I was referring to their image and "importance" factor. And being medical, University circle would work too. Fairfax, less so. Also, if they were in UC and surrounded by like companies, there may be some synergies as well. They probably don't get much interaction with others out in Broadview Hts.
December 8, 20195 yr Lots of reasons for optimism in 2019: Crain's editorial: Looking up https://www.crainscleveland.com/editorials/crains-editorial-looking "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 8, 20195 yr This article describes how Amazon is still going to expand in NYC despite deciding to pull their HQ2 from Queens. Basically describes how the city is getting the jobs without the $3 Billion in incentives the local and state governments were offering. Something to think about even though some cities have the luxury of being able to say no to massive subsidies and still get development while others that are more desperate for economic development cannot. https://www.google.com/amp/s/www.commondreams.org/news/2019/12/07/we-were-proven-right-says-aoc-after-amazon-expands-new-york-without-taking-billions%3famp
December 8, 20195 yr Cleveland city officials said they were offering to SHW only their standard package of business incentives -- nothing out of the ordinary. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 9, 20195 yr That doesn't include additional incentives from the county and state. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 9, 20195 yr 21 hours ago, KJP said: Cleveland city officials said they were offering to SHW only their standard package of business incentives -- nothing out of the ordinary. Although, their usual incentives are rather generous to begin with. Typically, non school 30 year TIF along with some other grants and possibly partial income tax rebates for new jobs.
December 9, 20195 yr On 12/8/2019 at 9:26 AM, Mov2Ohio said: This article describes how Amazon is still going to expand in NYC despite deciding to pull their HQ2 from Queens. Basically describes how the city is getting the jobs without the $3 Billion in incentives the local and state governments were offering. Something to think about even though some cities have the luxury of being able to say no to massive subsidies and still get development while others that are more desperate for economic development cannot. https://www.google.com/amp/s/www.commondreams.org/news/2019/12/07/we-were-proven-right-says-aoc-after-amazon-expands-new-york-without-taking-billions%3famp They are leasing space in Hudson Yards which received $1.3 billion from the state by having it "gerrymandered" into the same "economically troubled area" as Harlem. So no this wasn't a direct subsidy/tax break to Amazon, but they're locating in a very high income development that was build using money that was intended for Harlem and are getting a fraction of the jobs. https://twitter.com/kristoncapps/status/1116694196436574209?s=19 Edited December 9, 20195 yr by PittsburgoDelendaEst
December 9, 20195 yr 1 hour ago, PittsburgoDelendaEst said: They are leasing space in Hudson Yards which received $1.3 billion from the state by having it "gerrymandered" into the same "economically troubled area" as Harlem. So no this wasn't a direct subsidy/tax break to Amazon, but they're locating in a very high income development that was build using money that was intended for Harlem and are getting a fraction of the jobs. https://twitter.com/kristoncapps/status/1116694196436574209?s=19 Well a fraction of the projected 25,000 jobs, but who knows if those would've ever materialized. With the HQ2 their first year employment projections were 700 employees. I believe they're getting 1,500 with the development mentioned in the article.
December 11, 20195 yr Crain's reports Nov auto sales down slightly year over year But ... For the two best sellers, Ford sales were down 15.9% and Chevy sales down 18.5%, while Audi, BMW, Cadillac, Jaguar, Lexus, Lincoln, Mercedes-Benz and Porsche sales were all up. Interesting dichotomy, perhaps reflecting the area's demographic churn. https://www.crainscleveland.com/retail/november-new-vehicle-sales-northern-ohio-skidded-more-10 Remember: It's the Year of the Snake
December 11, 20195 yr 1 hour ago, Dougal said: Crain's reports Nov auto sales down slightly year over year But ... For the two best sellers, Ford sales were down 15.9% and Chevy sales down 18.5%, while Audi, BMW, Cadillac, Jaguar, Lexus, Lincoln, Mercedes-Benz and Porsche sales were all up. Interesting dichotomy, perhaps reflecting the area's demographic churn. https://www.crainscleveland.com/retail/november-new-vehicle-sales-northern-ohio-skidded-more-10 Tesla doesn't break down their sales into months but instead by quarter. Would be interesting to know what effect electric vehicle adoption plays on these sales numbers in the next 2-3 years. Ohio EV sales are increasing 100%+ per year but from a low base. Ohio 2,091 (2017) 4,456 (2018) 113.10% YOY%+ 0.37% (2017 % Total auto sales) 0.74% (2018 % Total auto sales) See: https://evadoption.com/ev-market-share/ev-market-share-state/ Side note: The doctor's parking garage (Cornell #34) for UH in University Circle is now probably 5-8% Tesla for 1000 parking spaces. I made the switch to Tesla Model 3 in June and will never go back to fossil fuel transportation. With GM/LG Lordstown battery factory, Avon Lake Ford plans, and potential Rivian involvement in Brookpark/Walton Hills, will be interesting to see if our region develops a "build here " loyalty to the new models. Tesla Model 3 is about as "Made in America" for total chain of production as you can get in 2019.
December 11, 20195 yr 12 minutes ago, trej34 said: I made the switch to Tesla Model 3 in June and will never go back to fossil fuel transportation. Assuming you live in Ohio, I have bad news about the energy source for your Tesla.
December 11, 20195 yr 53 minutes ago, StapHanger said: Assuming you live in Ohio, I have bad news about the energy source for your Tesla. what's the bad news?
December 11, 20195 yr 1 hour ago, trej34 said: Tesla doesn't break down their sales into months but instead by quarter. Would be interesting to know what effect electric vehicle adoption plays on these sales numbers in the next 2-3 years. Ohio EV sales are increasing 100%+ per year but from a low base. Does Tesla sell through dealerships like the other car makers? If so the reporting wouldn't matter as its coming from dealerships not the manufacturers themselves (unless tesla doesn't allow its dealers to divulge sales data).
December 11, 20195 yr 47 minutes ago, Pugu said: what's the bad news? A large percentage (majority?) of electricity in Ohio comes from coal still. Although you can certainly have your own solar at home, or sign up for one of the renewable only electric programs through Nopec to make your electric car more green. Though that would still require you to charge at home only.
December 13, 20195 yr 9 hours ago, Terdolph said: Nuke also for northern Ohio. Nuke and coal. Not very much though. https://www.puco.ohio.gov/be-informed/consumer-topics/how-does-ohio-generate-electricity/
December 13, 20195 yr 8 hours ago, Cleburger said: Not very much though. https://www.puco.ohio.gov/be-informed/consumer-topics/how-does-ohio-generate-electricity/ Right. Over 80% from fossil fuels. And because of all the coal, unless you have home solar, I doubt there’s any real environmental benefit to driving an electric car in Ohio. Ohio’s environmental and energy policies are jokes.
December 13, 20195 yr I replied to the EV with fossil fuel electricity conversation here: When is the last time I-71 turned a profit?
December 17, 20195 yr Travel Centers of America, hqs in Westlake, stock up 50% in the last two days. That's a much bigger bounce than is usual just for naming a new CEO. Remember: It's the Year of the Snake
December 18, 20195 yr Ford puts $1.5 billion and 3,000 jobs into two Detroit area plants for pickup trucks. Is this what the Walton Hills and Brookpark Engine No. Two rumors turned into? https://www.freep.com/story/money/cars/ford/2019/12/17/ford-michigan-assembly-dearborn-truck-plant/2675193001/ Remember: It's the Year of the Snake
December 18, 20195 yr Neither of those Michigan plants are an engine plant - which would be the most likely investment at Brookpark
December 18, 20195 yr 1 hour ago, Dougal said: Ford puts $1.5 billion and 3,000 jobs into two Detroit area plants for pickup trucks. Is this what the Walton Hills and Brookpark Engine No. Two rumors turned into? https://www.freep.com/story/money/cars/ford/2019/12/17/ford-michigan-assembly-dearborn-truck-plant/2675193001/ No. One plant is still going through the Ohio EPA's voluntary action program and the other has yet to start. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
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