March-April 2009

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Inside Business

Oakland County's Resiliency Will Aid its Economic Recovery

Like the rest of Michigan and the United States, the Oakland County economy had a rough 2008 and is having an even worse 2009.

Midwest Bankers See an Increase in Delinquencies, Foreclosures and Loan Losses

A majority of Midwestern bankers anticipate an increase in the number of delinquencies (73%), the number of foreclosures (56%) and consumer (55%) and commercial loan losses (72%), according to Grant Thornton LLP’s 16th Bank Executive Survey

Walsh College Hosts Spring Open House

Walsh College will host a Spring Open House at the Troy campus on Thursday, May 14, from 4 – 7 p.m. in the Jeffery W. Barry Center on the campus, located at 3838 Livernois Road, between Big Beaver and Wattles.

Mayor and Paxahau Announce New International Movement Festival Partnership

Mayor Kenneth V. Cockrel, Jr. and Paxahau officials announced during a press conference today for Movement 2009 a new international partnership between Movement Detroit and Movement Torino designed to expand the visibility of Detroit and its growing electronic music community.

Davenport University Appoints Next President

Davenport University has completed an extensive, four-month national search with the selection of the university’s next president.

Coach Lou Holtz to Speak at the Academy of the Sacred Heart, Receive Leaders of Conscience Award

On Friday, May 1, the Academy of the Sacred Heart’s Leaders of Conscience Speaker Series will present Lou Holtz, legendary football coach, author and ESPN analyst.

APACC Eighth Annual Dinner Fundraiser

Asian Pacific American Chamber of Commerce is hosting their Eighth Annual Dinner Fundraiser on Saturday, May 9, 2009, from 6:00 p.m. - Midnight at the Royal Park Hotel, located at 600 East University Drive in Rochester, Michigan.

Majority of U.S. Consumers Plan to Buy Next Vehicle Within Next Two Years

Fifty-five percent of U.S. consumers plan to purchase their next vehicle within the next two years, according to a recent consumer sentiment study conducted online with approximately 1,400 U.S. auto owners by R. L. Polk & Co.

Kelly Services Joins the U.S. Army Reserve as its Newest Employer Partner

The U.S. Army Reserve and Kelly Services, Inc., a world leader in workforce management services and human resources solutions, announced the launch of a public-private partnership that will enhance job opportunities for U.S. Army Reserve Soldiers and Veterans.

Television Advertising Campaign Brings National Award to Local Jeweler

Darakjian Jewelers’ The One, The Only TV series wins 2009 Jewelry & Watch Advertising Award (JAWA) from InDesign Magazine

Ricardo Announces its Contributions to Successful Plug-in Conversion of Hybrid Utility Truck

Ricardo, Inc., a leading independent provider of technology, product innovation and engineering solutions to the world's clean energy, automotive, military and transport industries today announced the details of its involvement in a project to further advance technologies utilized in a plug-in hybrid utility truck.

New England Financial of Michigan Named "Firm of the Year"

MetLife recently announced that New England Financial of Michigan, headed by Michael Amine, Managing Partner, was named “New England Financial Firm of the Year,” for the prior year’s overall business performance and accomplishments.

Scott Harrison Chosen Leader and Innovator of the Year

Scott Harrison was named the fourth-annual Grant Thornton Leader and Innovator of the Year this evening, with many additional weekly honorees from the past 12 months among those in attendance at a special reception at Lawrence Technological University.

Patterson Unveils Technology Toolkit to Help Communities Lure Knowledge-Based Investment

Oakland County has a new tool to help its communities shed a manufacturing-based focus and plan for the change that technology and the knowledge economy could bring to the area.

Asterand Announces Collaborative Agreement to Characterise Antibodies

Asterand plc (LSE:ATD), a leading provider of human tissue and services to scientists engaged in drug discovery research, announces that it has entered into a collaborative agreement with Abcam plc (AIM:ABC), the rapidly growing bioscience company that markets antibodies via its own online catalogue.

Inaugural FEV, Inc.-Sponsored SAE Franz F. Pischinger Powertrain Innovation Award Goes to Ford's Gerhard Schmidt

Schmidt, a former student of Prof. Pischinger, cited for excellence in powertrain engineering innovation.

Karmanos Cancer Institute Researchers Provide New Hope for Breast Cancer Treatment

Scientists from the Barbara Ann Karmanos Cancer Institute in Detroit presented data today at the American Association for Cancer Research's 100th Annual Meeting 2009 that signifies exciting research advancements in the treatment of the more aggressive forms of breast cancer.

“Toast for a Cure!” at Rugby Grille to Benefit Children’s Leukemia Foundation of Michigan

Children’s Leukemia Foundation of Michigan has teamed up with the Rugby Grille in The Townsend Hotel to present “Toast for a Cure!” – a fundraiser for the foundation, aimed at providing personalized support to families impacted by leukemia and other related blood disorders.

Govs. Schwarzenegger and Granholm Tout AVL Sustainable Mobility

Together with Govs. Schwarzenegger and Granholm, Prof. Helmut List, chairman and CEO, AVL, today announced continued advancements in alternative powertrain capabilities, furthering its position as the market leader in sustainable mobility.

INNOVATIONS::Detroit Music.Summit

On Thursday, April 30, 2009, more than 100 music professionals, novices and invited panelists will share information and resources in an interactive exchange, INNOVATIONS::Detroit Music.Summit

Michigan First Credit Union Launches Next Generation of Online Banking

Building upon its technology leadership since its founding in 1926, Michigan First Credit Union ( today announced the launch of its new online banking service.

Accelerated Marketing Partners (AMP) Announces Detroit’s First New-Development Real Estate Auctions

Accelerated Marketing Partners (AMP) will conduct Detroit’s first new-development real estate auctions when it auctions homes at Ram Realty Services’ The Ellington Lofts/Condominiums and Riverfront Condominiums, with minimum selling prices up to 69 percent below previous asking prices.

ESD Institute Unveils Bold Plan to Revitalize Michigan’s Economy

In this era of government bailouts, the Engineering Society of Detroit Institute (ESDI) has come up with a bold initiative to enable businesses to cut costs without the use of public funds or tax incentives.

'Quick Rinse' Bankruptcy for GM: A Pipe Dream?

Conventional wisdom has General Motors Corp. filing for Chapter 11 bankruptcy in late spring or early summer, emerging from court supervision as a smaller but viable company in as little as two weeks, or two to four months at the outside.

U.S. Army Energy Hub Features Battery Technology at SAE 2009 World Congress

U.S. Army Tank Automotive Research, Development and Engineering Center (TARDEC) professionals have played a major role in the development of Lithium-ion battery systems – emerging technology behind the recent announcement by Gov. Jennifer Granholm’s office of more than 6,600 possible jobs coming to Michigan.

Michigan's Premier Mall Developer Defines Success in Tough Times

Managing Partner of the Forbes Company, LLC Nathan Forbes will be the keynote speaker at the upcoming International Council of Shopping Centers Continuing Education Program at the Rock Financial Showplace in Novi, MI on Wednesday April 29 at 12:00 noon.

Success of Marketing Green Vehicles in U.S. Depends Largely on Continued Commitment By Automakers, Energy Policymakers

Consumer Market Research Expert Contends Auto Buyers Will Switch to Hybrid Vehicles If Little Financial Risk Is Clear in Making the Switch.

Miller Canfield to Open Office in Mexico

The law firm of Miller Canfield announces that it is opening an office in Monterrey, Mexico - the country's automotive manufacturing and business center and the Mexican headquarters of thousands of manufacturing companies from around the world.

Michigan Home Retention Forms to Help Homeowners in Mortgage Trouble

For homeowners facing mortgage troubles there is a sea of conflicting information through which to wade in order to find real assistance.

$146 Million Film, TV Production Studio Factory Chooses Allen Park and Michigan

A veteran Hollywood film executive who is a native Detroiter will build a $146 million, 750,000-square-foot film, TV and media production studio factory and village on 104 acres of land at Southfield Road and Enterprise Drive in Allen Park, officials announced today.

FEV, Inc. to Show Full-Sized Pickup Truck with Solid SCR System for NOx Reduction at 2009 SAE World Congress

EV, Inc., (FEV) a leading developer of advanced powertrain and vehicle technologies, announced today that it will show its Solid Selective Catalyst Reduction (SSCR) System, installed in a Dodge Ram pickup truck at the upcoming 2009 SAE World Congress, held at Cobo Center in Detroit on April 20 - 23.

Recession speeds change: More jobs require degrees, others cut

Through months of recession, the U.S. economy gained jobs requiring a higher education while shedding millions of low-education jobs, according to the second annual report by Michigan Future Inc. and a University of Michigan economist on the state's transition to a knowledge-based economy.

Recovery Act Gives SBA Tools to Boost Small Businesses

The Administration is taking actions to make a big dent in the small business credit crunch by offering new incentives to small business borrowers and lenders through the American Recovery and Reinvestment Act and Department of Treasury actions.

Parade of Homes 2009 Opens Throughout Southeastern Michigan May 1

Among the top reasons to buy a new home now are the new $8,000 Federal Tax Credit valid only for homes purchased through November 30, 2009 and, for all qualified buyers, record-low interest rates.

Warner Norcross & Judd and Doeren Mayhew Sponsor Workshop on Strengthening Businesses at MichBio Annual Meeting

Warner Norcross & Judd LLP and Doeren Mayhew are sponsoring a workshop on “Strengthening Your Company: Business Strategies in a Down Economy” as part of MichBio’s 2009 Annual Business Meeting.

Statement from Oakland County Executive L. Brooks Patterson Regarding his decision on running for Governor of Michigan

The rumors are swirling back home about my possible campaign for Governor.

Medtipster Out of Beta Testing Phase

Updated Website Includes More User-friendly Features to Help Americans Save on Their Healthcare Costs.

New Enterprise Forum Speaker to Discuss Barriers to Deals – and How to Avoid Them

New Enterprise Forum’s April meeting, “How to Kill a Deal? Let Us Count the Ways,” is a look at what factors, beyond the investor pitch, can be issues for entrepreneurs seeking funding.

PAXAHAU Presents Movement 2009 May 23-25, 2009 at Hart Plaza, Detroit

Paxahau is proud to present Movement 2009 to take place on May 23, 24 and 25, 2009 at Hart Plaza in Detroit, MI.

DTE/ESD Energy Conference & Exhibition

The recently enacted energy legislation could transform Michigan’s economy. It has the potential of optimizing the way we use energy and providing opportunities for more jobs and a healthier economy.

Honigman Represents Chinese Company in Purchase of Delphi Assets

Honigman Miller Schwartz and Cohn LLP (Honigman) is pleased to announce that a cross-disciplinary team of its attorneys represented Tempo Group, Inc. in negotiating the principal terms and conditions of the $100 million acquisition of the remaining pieces of Delphi's global brake and suspension component business.

Ford Motor Credit Company Announces Results of its Tender Offer

Ford Motor Credit Company’s tender offer for Ford Motor Company’s unsecured, non-convertible debt securities resulted inapproximately $3.4 billion principal amount of debt securities tendered andaccepted for purchase. Ford Credit will use $1.1 billion in cash to purchase the debt securities.

ITC Announces Executive Transition, Appointment

In a move designed to more fully support the expansion and development of its regional business and growth objectives, ITC Holdings Corp.

Wow Green International to Launch Worldwide Expansion at Vegas Event

Wow Green International,, a relationship marketing company of safe, green household cleaners, has announced that it will host the company’s Worldwide Launch and first national convention at the Hard Rock Hotel and Casino in Las Vegas from September 23 to 25, 2009.

Detroit Economic Growth Corporation

From the desk of George W. Jackson, CEO.

Toyota Names Curt Mcallister Midwest Regional Manager

Curt McAllister has been named Midwest Regional Manager – Corporate Communications for Toyota Motor Sales (TMS), U.S.A., Inc.

NSF International and the Southeast Michigan Sustainable Business Forum to Host Growing with a Greening Economy Forum

Michigan May be Better Positioned Than Others for Sustainable Economic Development Over the Next Several Decades.

Oakland County’s AAA Bond Rating Reaffirmed by Wall Street

Fresh on the heels of a trip to Chicago earlier this week to meet with Wall Street bond raters, Oakland County has received official confirmation that Moody’s Investors Service has reaffirmed Oakland County’s prized AAA Rating on $306.2 million of outstanding General Obligation Limited Tax debt.

The Future of Medical Care Innovations, Advancements, Opportunities

If you think advancements in medical care have been great, think again. The future is moving at lightning speed and knowing what impact that will have on patient and doctor relationship and treatment is vital.

DPM Manufacturing Creates YouTube Video on Company's Version of Stimulus Package

DPM Manufacturing in Wixom, Michigan, used what it knows best - high precision machining- to create a YOUTUBE video for his company's version of the best stimulus package.

Karmann USA Announces Launch of Karmann Classics

Karmann USA is launching a new aftermarket group to rebuild and restore convertible tops for vintage cars in the United States.

William Clay Ford, Jr. Steps Down as Chairman of the Board of the Henry Ford

William Clay Ford, Jr. announced today he will step down as Chairman of the Board for The Henry Ford, a seat he has held for 13 years.

Compuware Changepoint Accelerates Application Portfolio Management Initiatives

Compuware Corporation today announced that it is jump-starting Application Portfolio Management (APM) initiatives by offering a pre-configured version of its market-leading IT portfolio management solution, Changepoint.

New Enterprise Forum Announces New Officers, Board Members

In March, New Enterprise Forum named new officers and seated five new members on the organization’s board.

Dow Automotive Answers New IIHS Call for Stronger Vehicle Roofs

A hybrid solution of Dow Automotive body enhancement technologies and advanced high-strength or ultra high-strength steel offers automotive manufacturers an innovative solution to the new Insurance Institute for Highway Safety roof strength rating system that calls for stronger vehicle roofs.

Governor Declares April “Michigan Wine Month”

Eight New Wineries Open for 2009, Highlighting Growth in AG Sector.

Miller Canfield Expands in Toronto, Merges with Gaertner Tobin LLP

The law firm of Miller Canfield announced today that it is expanding its Toronto practice with the merger of Toronto-based Gaertner Tobin LLP.

Economic and Automotive Industry Uncertainty Contributed to Significant Decline in Global Auto M&A Deal Activity in 2008

Automotive Companies' Deal Volume Decreased and Value Plummeted as Industry Struggled.

Cerion, LLC, Completes Purchase of MPI and Skill

Cerion, LLC, announces that it has completed its purchase of the assets of Precision Parts International (PPI) - MPI International and Skill Metalforming Technologies

Cooper-Standard Automotive Reorganizes Operations into Geographic Structure

Cooper-Standard Automotive Inc. announced today a reorganization of its operating and reporting structures involving the discontinuation of its global Body & Chassis and Fluid Systems product line operating divisions and their supporting organization structures and the establishment of new operating and reporting units organized on the basis of geographic regions.

Walsh College offers more ‘Take Charge’ Workshops for Workers in Transition

Walsh College’s “Take Charge” educational workshops have been so successful that another round of sessions are being offered in late March, April and May.

Toyota Names John McCandless National Manager of Field Operations

John G. McCandless has been named National Manager of Field Operations for Toyota Motor Sales, USA, (TMS) Corporate Communications.

You're Up Kick Starts Efforts to Provide Free Physical Therapy to the Uninsured, Plans a Charity Gala in Detroit

With a growing number of Metro Detroiters now without health insurance benefits, athlete and personal trainer Charlie Sanders Jr. is reaching out to those who need physical therapy but cannot afford it.

Greektown Casino-Hotel Recommits to Local Neighborhood Restaurants

Greektown Casino-Hotel officials announced today that the property will keep in place its commitment to the unique community partnership program that allows Greektown Casino customers to redeem their earned comps at surrounding neighborhood restaurants.

Compuware Extends End-to-End Application Performance Visibility to the Mainframe

Compuware Business Service Delivery Solutions Provide End-User Perspective Across Distributed and Mainframe Platforms, Enable IT to Deliver On Its Promise

AQABA Celebrates Its 5th Year In Business

AQABA was founded in March 2004 celebrates its 5-Year anniversary. In addition to providing custom Web development, online marketing and advisory services to clients, the company provides individuals a broad array of web strategies, including Detroit Medical Center and Auto Beat Daily just to name a few.

Ford Motor Credit Company Provides Update on Tender Offers

Ford Motor Credit Company announced today the results of its previously announced $500 million cash tender offer (the "Term Loan Offer") for Ford Motor Company's (NYSE:F) senior secured term loan debt (the "Term Loan Debt") and the early tender results as of March 19, 2009 (the "Early Tender Date") of its previously announced $1.3 billion cash tender offer (the "Notes Tender Offer") for Ford's unsecured, non-convertible debt securities listed in the table below (the "Notes").

Current Economic Climate Drives Changes in Auto Ownership, Purchase Plans, According to Polk

Today's uncertain economy significantly impacts consumer vehicle buying decisions, according to the latest market study issued today by R. L. Polk & Co.

Michigan Certified Development Corporation Names Mike Chatas of United Structured Finance Company 2009 Partner of the Year

Michigan Certified Development Corporation (MCDC) is pleased to announce Mike Chatas of United Structured Finance Company as their 2009 Partner of the Year, for his work in providing Michigan businesses with Small Business Administration (SBA) loan financing.

Warner Norcross & Judd: Legal Perspectives

Legal Perspectives is a quarterly e-newsletter offering a variety of story ideas and legal expert resources from Warner Norcross & Judd, LLP.

Macomb County Communication Systems Experts Team With Local Recycling Firm

Effective Feb 17, 2009 federal law mandates the recycling many styles of electronic and computer based equipment.

Herman Miller, Inc., Reports Third Quarter Results; Strong Cash Balance and Swift Realignment of its Cost Structure

Herman Miller, Inc. (NASDAQ:MLHR) , today announced results for its third quarter of fiscal year 2009.

CIO of Inteva Products, LLC to Highlight Benefits of Plex Online at Upcoming IDC SaaS Summit

Plex Systems, Inc., today announced that Dennis Hodges, CIO of Inteva Products, LLC will speak at the upcoming IDC Software as a Service (SaaS) Summit about the benefits of implementing an on-demand integrated SaaS-based system.

Quell Interactive Shares Seven Sins of Email Marketing

Quell Interactive, a strategic digital marketing unit of The Quell Group, shares The Seven Sins of Email Marketing.

Ambassador Bridge Applauds Michigan Strategic Fund Bond Approval

Dan Stamper, president of the Detroit International Bridge Company, owners and operators of the Ambassador Bridge released the following statement today after the Michigan Strategic Fund approved up to $787 million in private activity bonds for the Ambassador Bridge Enhancement Project.

Debunking a Financial Crisis Myth That Banks are Not Lending the Tarp Funds

Our politicians are lamenting that lending is currently too slow, and if more lending occurred then we would pull right out of recession.

International Academy of Design & Technology Attains CIDA Accreditation for Interior Design Program

The International Academy of Design & Technology-Detroit (the Academy) has been granted accreditation by the Council of Interior Design Accreditation (CIDA) for its Interior Design (Bachelor of Fine Arts) degree program.

Former Wayne State Football Star Named “Best Start-Up Entrepreneur” by Automation Alley

Automation Alley recently named Joe Gough “2008 Best Start-up Entrepreneur” for the development of a new greeting card/lottery game that promises to generate additional revenue for states that purchase the game.

AIA Michigan and PCIA Team Up To Help Design Firms

New Benefit Helps Firms Meet Insurance Needs and Lower Costs

Half of U.S. Companies are Freezing Executive Base Salaries in 2009

A recent survey of U.S. companies finds that half of companies are freezing executive base salaries in 2009. In addition, another 15 percent are implementing salary reduction programs.

2009 - 2011 Economic Forecast for Oakland County At 24th Annual Economic Luncheon

Top economists from the University of Michigan will present their report on the economic future of Oakland County at the 24th Annual Economic Outlook Luncheon on Thursday, April 30, 2009 at the Rock Financial Showplace in Novi.

During Tough Times, Saving Lives Remains Focus for TK Holdings Inc.

TK Holdings Inc., a subsidiary of Takata Corporation, and M2K Seating Systems LLC today announced the joint acquisition of all assets of SynTec, Inc. located in High Point, NC.

Westin Book Cadillac Detroit Receives Award for Best Renovation Project in U.S.

The Associated General Contractors of America, the leading national construction trade association representing all facets of commercial construction, recently announced that The Westin Book Cadillac Detroit received the 2009 Aon Build America Award for best renovation of the 453-room hotel and its more than 60 residences.

Automation Alley Receives More Than $2 Million in Federal Funding

Automation Alley, Michigan’s largest technology business association driving growth in Southeast Michigan’s economy, announced today that the organization has been awarded more than $2 million in funding from the Omnibus Authorization Bill, which was signed into law today by President Obama.

Michigan Education Committee Urged Not To Pass Proposed Retirement Bonus

Detroit Renaissance, a private, non-profit leadership organization dedicated to accelerating the region’s economic growth, announced today its opposition to the “retirement bonus” plan proposed recently by the Michigan Education Association (MEA).

Detroit Renaissance Adds Three New Board Members

Detroit Renaissance, a private, non-profit leadership organization dedicated to accelerating the region’s economic growth, announced today that three additional members were added to their board of directors.

First in Series of Regional White House Forums on Health Reform to be Held Thursday in Dearborn, Michigan

Building on last Thursday’s forum at the White House, Dearborn, Michigan will host the first in a series of Regional White House Forums on Health Reform on Thursday, March 12 at 2:00pm EDT at the Ford Conference and Event Center.

New Enterprise Forum Panelists to Discuss Dynamics of Relationships Between Entrepreneurs and Angel Investors

New Enterprise Forum will host “Understanding the Investor/Investee Relationship – The Angel Stage,” a panel discussion that will illuminate the relationships and responsibilities that are formed between entrepreneurs and their angel investors.

Fieldturf Construction Opens Regional Office in Michigan

The expansion continues as FieldTurf Construction has recently opened an office in Auburn Hills, Michigan that will operate as a regional office for the world's largest sports surfacing manufacturer.

Jason Vines joins Forgotten Harvest as newly created Senior Advancement Director

Forgotten Harvest, metro Detroit’s only mobile food rescue organization, has appointed Jason H. Vines to the newly created position of Senior Advancement Director.

Frank & Freedman, P.C. Merge with Hirsch, Subelsky & Associates, P.C.

Firms Expand to Offer Enhanced Array of Accounting and Business Advisory Services

Oakland County Makes Budget and Expenditures Available on new Financial Transparency Web Site

Oakland County has revamped its financials web site to increase transparency in County government spending, and allow citizens to better track the ways in which tax dollars are being used.

Detroit Renaissance Announces Thirteen New Board Members

Detroit Renaissance, a private, non-profit leadership organization dedicated to accelerating the region’s economic growth, announced today the addition of thirteen area business executives to its board of directors.

Exclusive: Kiplinger’s Biofuels Market Alert Says Ford Will Back 50% Increase in Ethanol Blend

In a break from other automakers, Ford Motor Co. is signaling its support for blending more ethanol with gasoline used by most cars and trucks--blends as high as 15% in the immediate future, according to an exclusive report in this week’s issue of Kiplinger’s Biofuels Market Alert.

Detroit Mayor Kenneth V. Cockrel Jr. Cobo Resolution Veto Remarks

Remarks delivered by Detroit Mayor Kenneth V. Cockrel Jr., at a press conference this afternoon.

Small business Leads Opposition to House Resolution Supporting Employee ‘Forced’ Choice Act

The state’s leading small business association, the National Federation of Independent Business, today slammed a state House resolution supporting the Employee Free Choice Act, commonly referred to as card check.

Huntington Bank Opens New Office in Canton, Michigan

Huntington Bank is investing in Canton, Mich. with the opening of its second location in the township at Ford & Sheldon Road March 9, 2009. The doors will officially open at 9 a.m.

Free TechTown forum helps Detroit entrepreneurs “get India right”

TechTown’s offering Detroit entrepreneurs a unique opportunity to learn how to trade with India the right way.

FEV, Inc. Launches Area’s First Full Hybrid & Electric Vehicle Development Center

FEV, Inc., (FEV) a leading developer of advanced powertrain and vehicle technologies, announced today that it has commissioned the area’s first full Hybrid and Electric Vehicle Development Center (HEVDC) at its Auburn Hills campus.
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Business Features

State of Investment

Top corporate leaders are lending their support to a new state initiative designed to nurture and grow emerging Michigan businesses.

The Talent Balance

Faced with the rapidly evolving new economy, Michigan companies both large and small are tackling the challenge of attracting and retaining top talent.

Green Leader

A Milford environmental engineer makes a name for herself in the male-dominated industry.
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From the Magazine

2010: A Real-Estate Odyssey

Once the bulk of Michigan’s foreclosed homes are sold off, the local housing market is bound for a rebound.
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