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6/4/2010
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$1.50/JUNE 7 - 13, 2010
Vol. 31, No. 23
State interests coalesce for a budget revamp Business groups, accountants strategize on ways to streamline government, spending
MANUFACTURERS’ HIRING GEARS UP With staffing firms’ assistance, companies employ more help as production gets rolling By DAN SHINGLER dshingler@crain.com
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rea manufacturers have gone from looking for busy work to being busy looking for people and, for once, might be leading the region in job production. “Over the last 10 days in particular I’ve been hearing it — there’s a lot of hiring going on,” said John Colm, president of Wire-Net, a manufacturing advocacy group on Cleveland’s West Side. Mr. Colm has been out talking to his members and other area manufacturers recently, and he quickly rattles off a list of businesses he says have been adding jobs:
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See STAFFING Page 22
By JAY MILLER jmiller@crain.com
“Everything is on the table right now.”
Several Ohio business groups plan to make short- and long-term recommendations for solving the impending state financial crisis when the governor and the Legislature start to tackle the next biennial budget in the fall. The state’s eight major chambers of commerce as a group and the Ohio Society of Certified Public Accountants independently have begun working on studies of best govern-
– Carol Caruso, senior vice president, Greater Cleveland Partnership ment practices around the country. They hope to offer Ohio budget makers some ideas this fall for broad ways to streamline government in the future as well as more immediate solutions to what the Ohio Public Expenditure Council warns may be See BUDGET Page 21
Stem cell therapy may be boon for Athersys Pfizer, analysts see big potential for MultiStem By CHUCK SODER csoder@crain.com
The scientists at pharmaceutical giant Pfizer Inc. aren’t the only ones who have confidence in Athersys Inc.’s adult stem cell therapy. Three stock analysts who spoke with Crain’s Cleveland Business said they think the Cleveland biotech company’s MultiStem therapy one day might help patients with various medical maladies — and that it might be better than a competitor’s similar product that has received a lot more
attention. That competitor, Osiris Therapeutics Inc. of Baltimore, in November 2008 struck a deal that could be worth as much as $1.25 billion with pharmaceutical giant Genzyme Corp. The deal gave Genzyme rights to commercialize two of Osiris’ adult stem cell therapies in markets outside the United States and Canada. Osiris has an edge over Athersys in that the Baltimore company’s lead product, Prochymal, already is deep into Phase III clinical trials. By See ATHERSYS Page 20
ON THE WEB Get connected with Crain’s This week’s podcast takes you further into some of the stories that appear in this week’s Crain’s. To get closer to the news, visit www.CrainsCleveland.com /podcasts.
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MANUFACTURING Businesses delve into new markets as old revenue streams dry up ■ Page 15 PLUS: Q&A ■ CARD CHECK ■ & MORE
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