September 18, 20204 yr Yay. We're #1. Fill out your census people! Cleveland overtakes Detroit as poorest big city in U.S., census finds https://www.detroitnews.com/story/news/local/detroit-city/2020/09/17/cleveland-overtakes-detroit-poorest-big-city-u-s-census/3476269001/
September 18, 20204 yr Colossal Cupcakes opening delayed: https://fox8.com/news/reopening-of-colossal-cupcakes-delayed-until-spring-after-damage-in-riot/
September 18, 20204 yr BLS data shows Total Non-Farm Wage and Salary up by about 7% from July to August, which is obviously good, although most metros saw a larger increase. Not really sure what to make of it.
September 18, 20204 yr 6 hours ago, Cleburger said: Yay. We're #1. Fill out your census people! Cleveland overtakes Detroit as poorest big city in U.S., census finds https://www.detroitnews.com/story/news/local/detroit-city/2020/09/17/cleveland-overtakes-detroit-poorest-big-city-u-s-census/3476269001/ While not good that we are number one in poverty now, there is good news to this. Our rate of 30.8% for last year is down from 33.1% in 2018. We're at least heading in the right direction - or we were before covid at least.
September 18, 20204 yr https://www.news5cleveland.com/news/local-news/in-depth/in-depth-new-data-highlights-covid-19s-profound-impact-on-downtown-restaurants-nightlife Edited September 18, 20204 yr by skiwest
September 18, 20204 yr 2 hours ago, LlamaLawyer said: BLS data shows Total Non-Farm Wage and Salary up by about 7% from July to August, which is obviously good, although most metros saw a larger increase. Not really sure what to make of it. Its about a 0.75% increase July to August for Cleveland (Increase of 7.2k jobs from 962.5k total in July) Regionally, Columbus increased 1.1%; Cincinnati 1.2%; Akron 0.6%; Pittsburgh 0.6%; Detroit 1.4%; Buffalo 1.1%; so we are on the lower end, but going in the right direction at least. https://www.bls.gov/regions/ What's interesting is the total labor force is down by about 25k from where it typically is this t of year. It's still higher than where it is in the winter months though, just didn't have the typical summer bump. I'm guessing that's more to do with seasonal workers just not entering the labor force this year.
September 18, 20204 yr 8 hours ago, Cleburger said: Yay. We're #1. Fill out your census people! Cleveland overtakes Detroit as poorest big city in U.S., census finds https://www.detroitnews.com/story/news/local/detroit-city/2020/09/17/cleveland-overtakes-detroit-poorest-big-city-u-s-census/3476269001/ Yet, even though the poorest in U.S., isn’t a 30.8% poverty rate a decent decline for CLE?
September 18, 20204 yr 2 hours ago, PoshSteve said: While not good that we are number one in poverty now, there is good news to this. Our rate of 30.8% for last year is down from 33.1% in 2018. We're at least heading in the right direction - or we were before covid at least. OK, I just saw this post. yes, CLE poverty rate dropping past few years.
September 21, 20204 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 21, 20204 yr 10 minutes ago, KJP said: That list has the Twin Cities dead last in the second tier, which makes it hard for me to take it seriously. I suppose it’s an interesting data point and a potential call to action. When is the last time I-71 turned a profit?
September 22, 20204 yr 2021 Best Tech Startups in Cleveland http://thetechtribune.com/10-best-tech-startups-in-cleveland/ Is there a thread specific to tech for Cleveland? I know tech related stories may overlap into several threads (E.g. CityBlock), but I think a thread dedicated to tech/bio-tech could be useful.
September 23, 20204 yr https://www.news5cleveland.com/news/local-news/cleveland-metro/ruth-chris-steak-house-closing-public-square-location
September 23, 20204 yr 8 hours ago, Sapper Daddy said: 2021 Best Tech Startups in Cleveland http://thetechtribune.com/10-best-tech-startups-in-cleveland/ Is there a thread specific to tech for Cleveland? I know tech related stories may overlap into several threads (E.g. CityBlock), but I think a thread dedicated to tech/bio-tech could be useful. There's a search function here at UO. By using it, I found a thread for bio-tech..... And one for general technology businesses.... "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 25, 20204 yr https://www.crainscleveland.com/technology/lakewood-tech-company-within3-raises-more-100-million-latest-financing-round Speaking of tech, $100 million raised in one round of financing is great news and as the article says, expect the company to get much bigger quickly.
September 28, 20204 yr Wow - Cleveland-Cliffs buying US operations of ArcelorMittal for $1.4 billion. This should bring more jobs to 200 Public Square? Couldn’t find a Cleveland-Cliffs thread. They seem pretty active and growing nowadays, maybe they deserve one. My hovercraft is full of eels
September 28, 20204 yr Link for the Cleveland-Cliffs story: https://www.wkyc.com/article/news/local/cleveland/arcelormittal-being-sold-to-cleveland-cliffs-in-14-billion-deal/95-a64dc667-7707-4ade-a1c1-a5e541d90528
September 28, 20204 yr If they move headquarters from Chicago, which they should, this will be a boon for Cleveland. AK-Steel purchase made this company a Fortune 500 company and this will certainly catapult them much higher.
September 28, 20204 yr I don't see a Cleveland Cliffs thread anywhere. I've made one here..... Edited September 28, 20204 yr by KJP "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 29, 20204 yr Just for fun with the addition of Cleveland Cliffs, and if RPM and TransDigm continue to grow we could potentially be looking at Cleveland Proper - 4 (would be tied for 27th among states) Sherwin Williams - 180 Cleveland Cliffs - 170-200 - just occurred to me that Cleveland Cliffs could become the largest company headquartered in Cleveland KeyCorp - 411 TransDigm - 513 (even with the pandemic which hurt them last quarter they are still up through 3 quarters) Cuyahoga - 7 (would be 22nd among states) Progressive - 86 Sherwin Williams - 180 Cleveland Cliffs - 170-200 Parker Hannefin - 224 KeyCorp - 411 Travel Centers - 480 TransDigm - 513 Cleveland MSA- 8 (would be tied for 20th among states) Progressive - 86 Sherwin Williams - 180 Cleveland Cliffs - 170-200 Parker Hannefin - 224 KeyCorp - 411 Travel Centers - 480 RPM - 508 (been on the cusp recently) TransDigm - 513 Cleveland CSA - 11 (would be tied for 16th among states) Progressive - 86 Sherwin Williams - 180 Cleveland Cliffs - 170-200 Goodyear - 216 Parker Hannefin - 224 First Energy - 294 J.M. Smucker - 407 KeyCorp - 411 Travel Centers - 480 RPM - 508 TransDigm - 513 Edited September 30, 20204 yr by cle_guy90 Thanks for the correction @PoshSteve
September 29, 20204 yr Cool to see how much Cleveland is growing in the list after too long headed in the wrong direction. While the F500 list is more or less just a glorified d*ck measuring contest, I guess it's good to see Cleveland doing well on it. A correction though - Parker is not based in Cleveland proper unfortunately. They're in Mayfield Hts now. And shame on Eaton for turning their back on their city and country.
September 30, 20204 yr Is there any chance Eaton could return here at some point? Their USA HQ is still here. Edited September 30, 20204 yr by skiwest
September 30, 20204 yr 3 hours ago, skiwest said: Is there any chance Eaton could return here at some point? Their USA HQ is still here. There is an effort within the EU to rein in the tax renegades, like Ireland and the Netherlands. If that happened, Eaton might return. If the next US administration raises corporate income taxes, however, that won't encourage the move any. Remember: It's the Year of the Snake
September 30, 20204 yr I wonder if there’s any chance that any of those companies outside of Cleveland proper would end up in Cleveland proper at some point. Of course the top of the wish list is Progressive but I don’t see them ever leaving their campus. But maybe they can have a second headquarters or something downtown. They’re big enough. Who else? I’ve heard Eaton regretted its move but would it really reverse course? They’ve only been out there, what, 12 years? There’s no reason why Travel Centers shouldn’t be in Cleveland proper. Who else? If only @KJP would tell us who the companies were that were looking at building new headquarters here! Lol Edited September 30, 20204 yr by inlovewithCLE
September 30, 20204 yr 4 minutes ago, inlovewithCLE said: If only @KJP would tell us who the companies were that were looking at building new headquarters here! Lol If you're referring to my comment from a few days ago which I mentioned that there are roughly a half-dozen companies that were looking to move out of old buildings downtown, that's pretty much old news. They include Medical Mutual, Sherwin-Williams, Benesch, Ernst & Young, Calfee and probably a couple others I'm forgetting. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 30, 20204 yr 10 minutes ago, KJP said: If you're referring to my comment from a few days ago which I mentioned that there are roughly a half-dozen companies that were looking to move out of old buildings downtown, that's pretty much old news. They include Medical Mutual, Sherwin-Williams, Benesch, Ernst & Young, Calfee and probably a couple others I'm forgetting. No I’m talking about your comment from a few weeks ago about there being companies looking for new headquarters in Cleveland, some of which are not in the city right now
September 30, 20204 yr 28 minutes ago, KJP said: If you're referring to my comment from a few days ago which I mentioned that there are roughly a half-dozen companies that were looking to move out of old buildings downtown, that's pretty much old news. They include Medical Mutual, Sherwin-Williams, Benesch, Ernst & Young, Calfee and probably a couple others I'm forgetting. Calfee has a beautiful HQ at the old East Ohio Gas Building. But check your DM's quick
September 30, 20204 yr 4 hours ago, inlovewithCLE said: No I’m talking about your comment from a few weeks ago about there being companies looking for new headquarters in Cleveland, some of which are not in the city right now Unfortunately, I don't know who they are. There at least one who was big and pretty serious and the other who was smaller and not so serious. The source still won't reveal the names because there's a chance at least one (the bigger one) could consider moving again after the pandemic crisis passes and they determine their in-office staffing needs. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 1, 20204 yr On 9/30/2020 at 8:05 AM, inlovewithCLE said: I wonder if there’s any chance that any of those companies outside of Cleveland proper would end up in Cleveland proper at some point. Of course the top of the wish list is Progressive but I don’t see them ever leaving their campus. But maybe they can have a second headquarters or something downtown. Progressive already has 2 large campuses in opposite ends of Mayfield along with a few other buildings in Mayfield Heights and Highland Heights. I'd love to see them have a presence downtown too but I don't see it happening anytime soon.
October 7, 20204 yr Cleveland Convention Center does a COVID-19 pivot, looking to fill empty space by booking local businesses for meetings (Subscriber-exclusive story) https://www.cleveland.com/business/2020/10/cleveland-convention-center-does-a-covid-19-pivot-looking-to-fill-empty-space-by-booking-local-businesses-for-meetings.html Summary: The Huntington Convention Center downtown is pitching their facilities to local companies as an alternative to online meetings by offering larger meeting space sufficient for socially distanced in-person meetings. They can host groups up to 300 people and are wired to make hybrid meetings possible with some virtual attendees joining those in person. The convention center's director of public relations called the move a “very, very short-term plan.” Here's probably the key area of the article to quote: Quote The campaign has been well-received so far, according to Johnson, with numerous inquiries and leads, though no firm sales. Johnson said there are no large groups scheduled to use the center this year, but several are on the books for early 2021.
October 7, 20204 yr Steris to buy Key Surgical of Minnesota for $850 million https://www.cleveland.com/news/2020/10/steris-to-buy-key-surgical-of-minnesota-for-850-million.html
October 7, 20204 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 7, 20204 yr ^ Some interesting M&A going on this last couple of weeks that are good news for Cleveland companies. Economic downturn has certainly lowered valuations and good to see that we have companies that want to grow. My hovercraft is full of eels
October 7, 20204 yr 5 minutes ago, roman totale XVII said: ^ Some interesting M&A going on this last couple of weeks that are good news for Cleveland companies. Economic downturn has certainly lowered valuations and good to see that we have companies that want to grow. Yes I've loved that essentially every time it's been the Cleveland company doing the acquiring which bodes well for our future.
October 7, 20204 yr Would love for them to make this push and have the life insurance division headquartered downtown (but I'll take the division just being in the county). https://www.crainscleveland.com/finance/progressive-says-theres-more-come-potential-life-insurance-push
October 7, 20204 yr 2 hours ago, cle_guy90 said: Yes I've loved that essentially every time it's been the Cleveland company doing the acquiring which bodes well for our future. And one of the few Cleveland companies that got bought out was bought out by a British company with no current U.S. headquarters.
October 9, 20204 yr On 10/7/2020 at 10:32 AM, cle_guy90 said: Yes I've loved that essentially every time it's been the Cleveland company doing the acquiring which bodes well for our future. It's Parker-Hannifin's turn. They haven't bought anybody in a while. May I suggest Moog of Buffalo. ? Remember: It's the Year of the Snake
October 13, 20204 yr https://www.crainscleveland.com/real-estate/mri-software-buys-texas-company-checkpointid MRI’s 7th acquisition of the year (all have been not the largest but still good news) which leads to two thoughts. 1) Software companies can make it in Cleveland 2) Companies often need major financial backers and investors to be the one that does the acquiring. It can be a good thing that a company is acquired by an equity firm. MRI actually has three institutional shareholders from SF, Boston, and New York.
October 16, 20204 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 21, 20204 yr BLS data for the metro is out. Labor force is way down, now the lowest level on record. Employment is also down, but still better than April. On the other hand total nonfarm had a pretty nice gain. Most sectors gained jobs, and the ones that lost jobs had relatively small losses. So I'm at a bit of a loss as to what is going on. We now have 50,000 more jobs than people in the labor force and almost 150,000 more jobs than employed people. More people have stopped looking for work and of those who have work more of them have taken a second job? https://www.bls.gov/regions/midwest/oh_cleveland_msa.htm
October 21, 20204 yr 30 minutes ago, LlamaLawyer said: BLS data for the metro is out. Labor force is way down, now the lowest level on record. Employment is also down, but still better than April. On the other hand total nonfarm had a pretty nice gain. Most sectors gained jobs, and the ones that lost jobs had relatively small losses. So I'm at a bit of a loss as to what is going on. We now have 50,000 more jobs than people in the labor force and almost 150,000 more jobs than employed people. More people have stopped looking for work and of those who have work more of them have taken a second job? https://www.bls.gov/regions/midwest/oh_cleveland_msa.htm Yeah the numbers are way too funky for me to trust them. Take it back since June. We’ve lost 80k in employment but have added 21k in jobs. It just doesn’t add up.
October 21, 20204 yr That's a nearly 94,000-person drop in the labor force from August to September. I realize we have more jobs in Cleveland in the summer, but that's a ridiculous drop. Most years its a drop of a few thousand people. Not 94,000. So I think there must've been a typo/math error in there. And 53,000 more people employed than there are people in the labor force. I'm betting on typo/math error. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 21, 20204 yr 27 minutes ago, KJP said: That's a nearly 94,000-person drop in the labor force from August to September. I realize we have more jobs in Cleveland in the summer, but that's a ridiculous drop. Most years its a drop of a few thousand people. Not 94,000. So I think there must've been a typo/math error in there. And 53,000 more people employed than there are people in the labor force. I'm betting on typo/math error. I didn't want to come out and say it, but I feel validated by the follow up comments so I will. My first concern was that maybe these numbers are being tinkered with somehow to lower the unemployment rate. The easiest way to make the unemployment rate look lower is to redefine a bunch of unemployed people who aren't looking for work very hard. Lots of people have been looking for work for months and are probably getting fatigued in their search but would jump at a job opportunity if they found one. Your unemployment rate looks a lot better if you decide those people aren't really unemployed. Also, to be clear the 53,000 more is jobs not people employed. So it's not impossible (and has happened before) that the total nonfarm can be higher than the total labor force since everyone who is employed has at least one job and some people who are employed have more than one job. This margin is very high and strange though. The last time total nonfarm was higher than the total labor force unemployment was like 3%.
October 21, 20204 yr 1 hour ago, KJP said: That's a nearly 94,000-person drop in the labor force from August to September. I realize we have more jobs in Cleveland in the summer, but that's a ridiculous drop. Most years its a drop of a few thousand people. Not 94,000. So I think there must've been a typo/math error in there. And 53,000 more people employed than there are people in the labor force. I'm betting on typo/math error. We've seen the jobs outnumber the workers before. In fact it's typical for the Cleveland MSA. It means workers are coming into the 5-county (Lake, Geauga, Cuyahoga, Lorain, Medina) MSA from outside. I believe something like 13% or so of the Akron/Canton MSA workforce is actually employed within the Cleveland MSA. If that number grows much it will extinguish the Akron/Canton MSA. The drop in the labor force is troubling, however. Maybe we'll see a revision over delayed reporting errors, which are WAY too tolerated in government since the pandemic began. Remember: It's the Year of the Snake
October 21, 20204 yr 1 hour ago, cle_guy90 said: Yeah the numbers are way too funky for me to trust them. Take it back since June. We’ve lost 80k in employment but have added 21k in jobs. It just doesn’t add up. There are 12 million unemployed nationally in the entertainment industry sector. Locally, add up all the jobs between Playhouse Square, 81+ Indians games, the arena, the convention center, Cedar Point etc, etc etc and there may just be 80,000 jobs gone here.
October 21, 20204 yr 36 minutes ago, Cleburger said: There are 12 million unemployed nationally in the entertainment industry sector. Locally, add up all the jobs between Playhouse Square, 81+ Indians games, the arena, the convention center, Cedar Point etc, etc etc and there may just be 80,000 jobs gone here. These are jobs lost since June not March. Our employment has gone down 80k in that time while the number of jobs available has gone up 21k.
October 21, 20204 yr 1 hour ago, Dougal said: We've seen the jobs outnumber the workers before. In fact it's typical for the Cleveland MSA. It means workers are coming into the 5-county (Lake, Geauga, Cuyahoga, Lorain, Medina) MSA from outside. I believe something like 13% or so of the Akron/Canton MSA workforce is actually employed within the Cleveland MSA. If that number grows much it will extinguish the Akron/Canton MSA. The drop in the labor force is troubling, however. Maybe we'll see a revision over delayed reporting errors, which are WAY too tolerated in government since the pandemic began. Thanks for the explanation of the labor force vs. jobs number. This explanation makes way more sense than mine.
October 23, 20204 yr I drove by the muni lot yesterday during the Cleveland Food Bank distribution. The line to get in stretched all the way back to E 55th on the Marginal, with 2 lanes of traffic used (both westbound). This is the great rebounding American economy?
October 24, 20204 yr 18 hours ago, Cleburger said: I drove by the muni lot yesterday during the Cleveland Food Bank distribution. The line to get in stretched all the way back to E 55th on the Marginal, with 2 lanes of traffic used (both westbound). This is the great rebounding American economy? It's not good. The last stats I saw from CHN Housing Partners (who oversee all of the county's CARES Act funding distribution) showed a full 17% of households in Cuyahoga County were receiving emergency assistance. That's just from one organization, so you can rightly assume the total number of people needing help right now is higher, as others would be turning to family, friends, other organizations, or unfortunately going without.
October 30, 20204 yr FirstEnergy Corp fired their CEO and other top execs over the HB6 bribery scandal.
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