CRAINSDETROIT.COM I FEBRUARY 17, 2020
CRAIN’S EXCLUSIVE
THE DAY EVERYTHING CHANGED In his first interview since his stroke, Dan Gilbert opens up on his recovery: ‘One day at a time’ BY CHAD LIVENGOOD
O
n the Saturday night before Memorial Day, Dan Gilbert and his wife, Jennifer, were hosting friends on the roof of his downtown Detroit apartment at the Vinton Building. High-powered lights were beaming from nearby Hart Plaza as concertgoers danced to the blaring beat of electronic music at the annual Movement Music Festival along the Detroit riverfront. That’s when Dan Gilbert started “seeing double people.” “I thought it had to do with (the lights),” the Quicken Loans founder recalled. It didn’t. In attendance at the Gilberts’ party that night was Steven Adamczyk, an emergency room physician who has coached their youngest son’s basketball team. The doctor urged Gilbert to go to a hospital, even as the self-made billionaire resisted. See GILBERT on Page 20
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NEED TO KNOW
RETAIL SHRINKAGE
THE WEEK IN REVIEW, WITH AN EYE ON WHAT’S NEXT ` RISING WATER TO TAKE TOLL ON ROADS, STATE SAYS THE NEWS: Road damage from the overflowing Great Lakes and inland waterways may carry a whopping price tag for Michigan, with initial cost estimates for repairs and upgrades as high as $100 million, officials said Monday. About 40 locations around the state have been significantly affected by flooding and erosion as the lakes have set record high levels in the past year, said Brad Wieferich, director of the state Department of Transportation’s development bureau. Inland lakes and streams also are full, and the ground is saturated in many places. WHY IT MATTERS: Michigan’s roads are already in notoriously bad shape. Democratic Gov. Gretchen Whitmer and leaders of the Republican-led Legislature are debating how to raise funds for long-sought improvements. Rising water levels are fueled by the region’s wettest period in more than a century.
` LEGISLATURE OKS MORE TAX BREAKS FOR SWITCH THE NEWS: The Michigan Senate on Tuesday approved additional tax breaks for a major Grand Rapids-area data center, sending the bill to Gov. Gretchen Whitmer. Las Vegas-based Switch opened a mega-campus of computer servers in
Kent County’s Gaines Township in 2017, after Michigan exempted it and “co-located” clients from sales, use and business-equipment taxes. Switch also was freed of many property taxes under a 2016 agreement.
around when Athletic Director Bill Beekman made a second run at him. That came after the Spartans were turned down by Cincinnati’s Luke Fickell. At one point, after Fickell’s decline, MSU trustee Brian Mosallem told a radio station: “We don’t want a waffling flake who views this as a destination job.”
`DETROIT JOB PICTURE IMPROVES FASTER THAN STATE’S
WHY IT MATTERS: The legislation would clarify that Switch is exempt from certain school taxes it was assessed for the first time more than a year ago, the Associated Press reported. The company had tangled with local school districts over the levies, but they have reached an agreement.
` MSU LANDS NEW COACH IN BUMPY PROCESS THE NEWS: Michigan State University has hired University of Colorado football coach Mel Tucker to replace Mark Dantonio. The university more than doubled Tucker’s salary at Colorado with a six-year contract that starts at $5.5 million a year. It is also paying $3 million for Tucker’s contract buyout at Colorado. WHY IT MATTERS: Tucker initially turned down the Spartans but came
THE NEWS: Detroit’s unemployment rate is projected to improve faster than the state average as an estimated 6,700 new jobs are expected to be created in the city through 2024, according to a study by the University of Michigan. Between 2015 and 2018, Detroit resident employment growth outpaced the state’s by 1.7 percent, according to the analysis and forecast led by UM economist Donald Grimes. WHY IT MATTERS: It’s an encouraging sign for the city’s recovery, but unemployment remains high in Detroit. The statewide unemployment rate was 3.9 percent in December, according to the federal Bureau of Labor Statistics.
` YZERMAN OPENS UP ABOUT RED WINGS REBUILD THE NEWS: Detroit Red Wings General Manager Steve Yzerman said he doesn’t know how long the franchise rebuild will take as he tries to improve the worst team in the league
Sears closing: And then there was one ` The Sears department store at Seven Mile and Middlebelt roads in Livonia will close, according to media reports. The store at the old Livonia Mall is on the chopping block as parent company Transform Holdco LLC readies 96 Sears and Kmart stores for closure nationally, leaving 281 after the latest round of cuts. Sears closed its Twelve Oaks Mall location in Novi last year, and the retailer’s website lists only one full-line Sears store left in metro Detroit: in Westland. (There is one more in the state, in Grandville near Grand Rapids.) Signs in the Livonia location detail a “store closing” sale with 10 percent-40 percent off, Hometown Life reported. It was unclear when the closing would occur. USA Today first reported new store closure locations. The Sears store in Livonia at Seven Mile and MIddlebelt roads. | COSTAR GROUP INC.
during his first year leading its front office. Yzerman and head coach Jeff Blashill opened up Monday during a Detroit Economic Club event at MotorCity Casino Hotel about the struggles of turning around a once-dominant franchise. WHY IT MATTERS: The Red Wings, who had held the record for the longest active streak of appearances in the
Stanley Cup playoffs at 25 years, are now dead last in the NHL with a record of 14-39. Executives are looking ahead to the draft in June to secure young players who can help the team progress. “We’re at a time in hockey where it’s hard to get talent. We’re all trying to do the same thing,” Yzerman said of the other 30 teams in the league. “In some cases, you got to get lucky.”
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2 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
TECHNOLOGY
RETAIL
HR tech companies take hold in Michigan Software taps into easy-to-use apps BY NICK MANES
Make enterprise software look like Spotify or Instagram. That’s the mantra being espoused by software developers and human resource professionals as employees want their workforce tools to more resemble the social media platforms they use every day. At least two firms in Southeast Michigan, Detroit-based Andonix and Workforce Software Inc. in Livonia, seek to tap into that segment with new software they say streamlines HR Harris functions into easy-to-use apps that are more in line with what consumers search for on Apple’s App Store than traditional enterprise software. Doing so is critical to employee recruitment and retention, according to Felicia Harris, principal with Rochester Hills-based consulting firm EverythingHR. “Regardless of their industry or size, they’re looking for an all-in-one solution for their employee base,” Harris said. “Whatever the interaction, (the employee) can go to one place and everything is right there. All the systems are talking to each other. That’s been the ultimate goal on the technology side and the ultimate goal for an HR professional to have.” Andonix, a Detroit-based app devel-
“REGARDLESS OF THEIR INDUSTRY OR SIZE, THEY’RE LOOKING FOR AN ALL-IN-ONE SOLUTION FOR THEIR EMPLOYEE BASE.” — Felicia Harris, principal, EverythingHR
oper, believes its Smart Work Station program fits into that goal, particularly in the manufacturing-heavy Midwest. The product aims to allow large manufacturers to move their training materials to an app installed on a new worker’s smartphone. Doing so could greatly speed up the sometimes lengthy training and onboarding process many manufacturers find themselves facing, argues Andonix CEO David Salazar Yanez. “You’re looking at your job before you even do it,” Salazar Yanez said. “Once you have a job preview, when you get there you already have a pretty good idea of what you’re supposed to do and what you’re supposed to execute.” Andonix Chief Revenue Officer Oliver Theiss added that the manufacturing sector has been among the slowest to adopt digital tools for the workplace, as global consulting firm McKinsey has noted in reports. See HR TECH on Page 18
Among Taubman Centers’ properties is Twelve Oaks Mall in Novi and Great Lakes Crossing Outlets in Auburn Hills. | TAUBMAN CENTERS
A BID TO BOOST GROWTH Taubman Centers selling to rival malls owner in $3.6 billion deal “SINCE TAUBMAN CENTERS’ FOUNDING 70 YEARS AGO, WE HAVE BUILT A PORTFOLIO OF HIGHQUALITY ASSETS AND CONTINUOUSLY ADAPTED TO THE EVOLVING RETAIL LANDSCAPE.” — Robert Taubman, chairman, president and CEO, Taubman Centers
BY KIRK PINHO
Bloomfield Hills-based mall operator Taubman Centers Inc. $3.6 billion sale to a rival shopping mall company has a message: The mall — at least, the right kind of mall — isn’t dead. The deal makes the smaller Taubman Centers part of the largest mall operator in the country and gives Simon an array of higher-end malls that have fared better in the shift toward online shopping. Simon was looking for a way to expand and was attracted to Taubman’s portfolio of mall properties in a bid to boost growth, according to Lindsay Dutch, an analyst at
Property Group LP (NYSE: SPG) is paying $52.50 per share cash for all of Taubman’s (NYSE: TCO) common stock and the Taubman family is selling one-third of its ownership interest and remain a 20 percent partner, according to a news release. Simon also plans to assume $3.2 billion in Taubman debt. Robert Taubman, chairman, president and CEO of Taubman Centers, is expected to continue leading the existing executive team at Taubman, managing about 25 million square feet of shopping center space in the U.S. and Asia, the companies said.
Bloomberg Intelligence. “There are not many opportunities to grow in the retail landscape,” she said. Simon needs to focus on its U.S. malls, which have been hurt by store closings, and the deal may make room for that, according to Dutch. The purchase makes sense for Simon, given Taubman’s high-quality, well-located malls and Simon’s ability to reinvest in them, she wrote in a report Monday. Simon paid handsomely for the privilege, as evidenced by a purchase price more than 50 percent higher than Taubman’s previous share price. Indianapolis-based Simon
See TAUBMAN on Page 18
NONPROFITS
New Detroit turns focus to racial inequities BY SHERRI WELCH
Michael Rafferty, CEO, New Detroit.
As vice president of small business at the Detroit Economic Growth Corp., Michael Rafferty heard again and again about interpersonal conflicts between employees and between staff and customers. One local business owner told him about an elderly African American couple visiting an animal care facility with a small dog. Startled when an excited German shepherd on a leash came toward them, the man reached for his side. Employees never saw a gun, and the man never said anything threatening. But fearing the
worst, employees were inclined to call the police, said Rafferty, who left the DEGC last spring after three years to lead racial justice organization New Detroit. German shepherds trigger fear for many people, especially older African Americans who witnessed or experienced dogs used against protesters during the 1960s civil rights movement, he said. The man “was startled and responded in a way that was nonthreatening and likely based on a lived experience that the staff couldn’t relate to,” Rafferty said. “Calling the police or banning him
from the establishment would have been uncalled for and would have certainly resulted in furthering community discord. “The owner, being culturally competent, knew that and made the right call.” Business and population growth in Detroit are leading to increased interactions between people of different races and cultures and in many cases, that engagement is leading to conflicts stemming from a lack of cultural understanding and sensitivity, Rafferty said. See NEW DETROIT on Page 18
FEBRUARY 17, 2020 | CRAIN’S DETROIT BUSINESS | 3
REAL ESTATE
Crain’s 2020 Newsmakers
TCF Bank congratulates David Provost Executive Chairman, TCF Bank TCF Bank aims to create a personal bond with each community we serve and every small business, family or customer that walks in our door. To learn more visit tcfbank.com
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Norman A. Yatooma ATTORNEY AT LAW
Scaffolding is being set up around the more than 90-year-old Fisher Building in Detroit’s New Center ahead of crews’ inspections of exterior marble to guide restoration. The Fisher is at 3011 W. Grand Blvd. | DAN AUSTIN FOR THE PLATFORM LLC
Fisher Building restoration includes marble inspection, conference center BY ANNALISE FRANK
Restoration of the historic Fisher Building façade in Detroit starts with crews poring over 325,000 square feet of marble. Scaffolding is being installed around the building in New Center area over the next month so workers can “meticulously” survey its marble exterior to determine how to go about repairing it, according to a news release. It’s part of a new phase of the renovation work that started in 2016, led by co-owner The Platform LLC. The surveillance should take four months before work to preserve the marble begins. The Platform also expects to open an approximately 2,100-square-foot conference center in the building’s concourse, or basement, within
about a month. The space with a 150-person capacity is being added as an amenity for tenants. Last fall, Strategic Staffing Solutions announced it would move to the Fisher from the Penobscot Building downtown. The company will move next month, the release said. Other new tenants include United Way for Southeastern Michigan and a regional W.K. Kellogg Foundation office. The Fisher’s entrances must also be rebuilt. That work should start when the weather warms, spokesman Dan Austin said. Over the last couple of years, The Platform has had a “multi-million-dollar” HVAC system installed, the building’s arcade ceiling restored, five elevators installed and display windows restored, among other things.
The Platform did not disclose the cost of the latest phase of renovation. The Albert Kahn-designed Fisher Building, completed in 1928, is covered in marble. Most 1920s high-rises in Detroit are stone, according to the release. It was added to the National Register of Historic Places in 1989, according to the Detroit Historical Society. Detroit-based The Platform, New York City-based HFZ Capital Partners and New York City-based Rheal Capital Management own the building, purchased at auction in 2015 for $12.2 million with the Albert Kahn Building. Southfield-based Redico LLC was also an owner, but it sold off its ownership interest. The Albert Kahn Building has also since sold. Contact: afrank@crain.com; (313) 446-0416; @annalise_frank
PEOPLE
Clark Hill names John Hensien as next CEO BY DUSTIN WALSH
• • •
NYA won MI’s largest judgment in 2018. NYA won MI’s largest legal malpractice judgment of all time. NYA won the largest franchise settlement in MI’s history.
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4 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
Detroit law firm Clark Hill PLC on Wednesday named longtime partner John Hensien as its next CEO. Hensien, 53, will replace John Hern Jr., 59, in the role he’s held for more than 17 years, effective Jan. 1, 2021. The law firm’s 12-member executive committee unanimously approved Hensien for its top business leader in September, the firm said in a news release. Hern will become co-chair of the firm, along with Jeffrey Conn, 56, a commercial and real estate finance partner in the firm’s Pittsburgh office. Hensien co-chairs the firm’s automotive and manufacturing practice, specializing in mergers and acquisitions, corporate finance and commercial transactions. Most recently,
Hensien
Hern
he’s been transitioning into more business duties, Clark Hill said. Prior to joining the firm in 1993, he served as an operations analyst in Dubai for NBD Bank, now part of JPMorgan Chase & Co. Hern was named the firm’s CEO in 2002 after then-CEO Thomas Lenga unexpectedly died at 59. At just 41 years old, Hern became the firm’s youngest-ever CEO. Hern led the
firm’s aggressive growth strategy, including the acquisition of several firms around the U.S. In 2018, Clark Hill absorbed Dallas-based Strasburger & Price Conn LLP, adding 200 lawyers, which made it the largest law firm, by worldwide lawyer headcount, operating in Michigan. In 2017, the firm acquired Los Angeles-based Morris Polich & Purdy LLP. Conn became a partner at Clark Hill after his firm, Thorp Reed & Armstrong LLP, was acquired in 2013. Contact: dwalsh@crain.com; (313) 446-6042; @dustinpwalsh
HEALTH CARE
First responders’ mental health needs have been ‘elephant in the room,’ but focus is shifting to acceptance, availability BY JAY GREENE
Firefighter/paramedic Michael Mattern and police Cpl. James Wade III in Dearborn are first responders who have faced danger and witnessed tragedy in the line of duty. While Mattern and Wade know taking risks is part of their jobs to serve and protect the public, first responders also must deal with another reality: high burnout, depression, family problems, and suicide rates that are in some cases five times higher than civilians. But a new first-responder wellness initiative is being piloted by Livonia-based Hegira Health Inc., one that fits with the peer support groups that Mattern and Wade have already created at their respective Dearborn fire and police departments to help co-workers address job stress. Under a $60,000 grant from the Ethel and James Flynn Foundation, Hegira is developing a mental health crisis service program to serve all 465 police, firefighters and emergency medical service personnel employed in the Wayne County cities of Dearborn, Northville, Wayne and Inkster, said Carol Zuniga, Hegira’s executive director. “Our first responders across Wayne County seamlessly serve residents during a crisis, but we seldom focus on the responder’s mental health needs. Their needs result from repeatedly facing trauma and tragedy in their daily work. You don’t just get used to it, as outside observers frequently believe,” Zuniga said. “We hope that this new program will serve as a statewide model for how we treat the behavioral needs of Michigan’s finest and bravest.” In early 2019, Northville Township police began using Hegira’s mobile crisis support team to quickly respond to people who exhibit mental health problems, said Chris Cox, a township lieutenant of patrol operations who also is the department’s behavioral health team lead. “We are building our peer support team now for police and fire and working with Hegira to implement it,” Cox said. “Whenever we have a critical incident our peer support team assists in debriefing to destigmatize (the officer’s reaction to the event). If we need additional resources, Hegira helps. We’ve been able to develop trust with first responders.” Cox said a critical incident occurs about once a month in the 50-employee police department that serves about 30,000 residents and 50,000 people who pass through the town. “We’d rather have fewer. We try to get people to open up. Once we do, we can provide resources. They now know they have a place to go, and it helps them to know they are not alone,” he said.
When traumatic events happen Mattern, who has been a firefighter and paramedic 14 years, remembers the day several years ago when he went on a call that ended with a traumatic death of a young child. Every life-saving effort was made, he said. “It really affected me, but I kept it to myself. Through my career I have had a number of bad runs. (The first re-
is the next big bridge,” he said. “When you get to them and don’t feel they understand you, it negatively reinforces the stigma.” Wade said any problem or issue officers face will be addressed by Hegira or the peer support group process. It’s not just traumatic job incidents. “It could be mental stress, marriage stress, elder care, child care, burnout” or the ever present traumatic job incidents, Wade said. “We want to give them a positive outlet so they can enjoy 25-year careers, retire and go on to happy lives.”
Hegira’s plan for critical stress management
Dearborn police peer support group helps officers deal with job stress. | DEARBORN POLICE DEPARTMENTS
White
Zuniga
sponder culture teaches) to keep my mouth shut. If I did talk, it was a sign of weakness, but my wife saw it and told me to find help,” Mattern said. For six months Mattern didn’t talk about it. “Some of the things I experienced were irritability, insomnia, standoffishness. I was distant wherever I was,” he said. “I would also replay the call in my mind.” Mattern finally decided to reach out for professional help. But the counselors he saw couldn’t understand the nature of his job. “There are no first responder experts. I finally found the right person who understood. I feel like I am better now because of it. Where I felt weak before, I now feel stronger.”
First responders often last to ask for help Hegira’s initiative is designed to focus on preventive care and behavioral health issues associated with incidents like the ones Mattern and Wade faced, said Jaime White, Hegira’s director of clinical development and crisis services and team leader of the grant. White said the program could expand with additional funding. All in all, the initiative will encompass 293 law-enforcement officers and 172 firefighters and emergency medical personnel. “Due to the nature of their work, first responders are at heightened risk for depression, post-traumatic stress disorder and suicide. Police officers and firefighters are more likely to die by suicide than in the line of duty,” Zuniga said. Nationally, suicide rates have been increasing the past several years for a multitude of reasons. In the U.S. during 2016, there were 13.9 suicides per 100,000 people, the highest rate in the world, according to the Commonwealth Fund.
From 1999 to 2016 suicide rates increased in the U.S. by 30 percent. The American Foundation for Suicide Prevention said it is the 10th-leading cause of death in the nation. The Ruderman White Paper on Mental Health and Suicide of First Responders also said that firefighters and law enforcement officers are more likely to die by suicide than from a line-of-duty death. Nationally, there were 103 reported firefighter suicides and 93 line-of-duty deaths in 2017, the last year for which there is data. But the Firefighter Behavioral Health Alliance estimates only 40 percent of firefighter suicides are reported. If this estimate is correct, the actual number of suicides would be more than twice the number of line-of-duty deaths. Commonwealth Fund researchers said they believe that is due to job stress, high rates of mental illness, inadequate mental health screening, low investments in social services and the cost of mental health care. Mattern, a peer team support leader for Dearborn fire, believes mental health needs for first responders are the “white elephant in the room.” He said everybody has critical and traumatic incidents that affects them one way or another. “You don’t come out unscathed,” he said. After inviting White out for several meetings, Mattern said she understood “our specific troubles and put in for the grant money.” He said the combination of Hegira and the departments own peer support team will work. Wade, who also is a peer team support leader at Dearborn police with 12 years experience, said a bad incident on a call in 2016 led him to form the support group in 2018. He enlisted the support of Dave Edwards, founder of the Call for Backup project in Taylor, and Harold Love, a retired Michigan state police captain turned mental health counselor with Harold J. Love and Associates in Southfield. “Dave and Harold help officers out with counseling when we need it. We learned of Hegira through the Dearborn fire department and reached out to Jaime,” Wade said. “We as a department do a good job looking out for each other when we interact with the
“DUE TO THE NATURE OF THEIR WORK, FIRST RESPONDERS ARE AT HEIGHTENED RISK FOR DEPRESSION, POSTTRAUMATIC STRESS DISORDER AND SUICIDE. POLICE OFFICERS AND FIREFIGHTERS ARE MORE LIKELY TO DIE BY SUICIDE THAN IN THE LINE OF DUTY.” — Carol Zuniga, Hegira’s executive director
public, but we haven’t (historically) done a good job” following up with support after a traumatic incident. But that has changed the past two years with the support of Edwards and Love and the crisis services Wade said the departments have planned with Hegira. “Hegira is a place where we go for mental health emergencies to facilitate treatment with officers,” Wade said. “We have participated in crisis training classes and three members of our peer team have been certified.” Over the next several weeks, Wade said officers will participate in critical incident management classes and eventually have access to Hegira’s 24/7 crisis services. Cox said a support group with the Northville Fire Department also is going through peer support and critical stress management training at Hegira along with the police department’s three-member team. White said each department’s peer group support team will be trained to assist co-workers and encourage them to reach out to Hegira to address any problems. But the stigma of seeking mental health support often creates a barrier, Wade said. Finding an experienced counselor who understands first responders is often difficult. “The stigma of mental health is huge, even for the general public. Once you’re through that stigma, (the issue of wanting) to talk with someone
During 2020, the initial part of the program will train Hegira’s core clinical team and first responder team leaders how to address problems and implement stress management techniques, White said. The training is expected to be completed in March. Hegira designed its program based on best practice recommendations for critical stress management from the U.S. Department of Justice, Office of Community Oriented Policing Services and the Law Enforcement Mental Health and Wellness Act Report to Congress. As a nonprofit organization with about 500 employees, Hegira offers a comprehensive network of community-based services designed to assist individuals and families with recovery from mental health and substance use disorders. It operates six clinic locations and 25 programs in Western Wayne County, serving 25,000 people in 2019. Support team and wellness meetings will be held monthly at each department during staff meetings or roll calls in an effort to integrate behavioral health care into their organizations, depending on individual department needs, Zuniga said. Once the initial training is completed, Hegira will conduct confidential first responder mental health checks this spring that include anonymous screening surveys for depression, anxiety and substance abuse, White said. Mattern said one of the concerns first responders have with the mental health surveys is confidentiality. “They will be totally anonymous and voluntary. It will be really helpful. We don’t have any data on first responder mental health, and it will show where the problems are and give us data on what to do,” he said. One of the barriers to behavioral health services among first responders is the stigma and culture of firefighters, police and EMTs that they should “pull themselves up by bootstraps. It butts up against seeking care,” White said. Five years ago peer team support groups for first responders wouldn’t have existed because of the stigma, Mattern said. “There is more talk about that now,” he said. “One reason is the number of veteran suicides. More are getting help and talking about it. (The problem has been) it has always been pounded into you, ‘Don’t talk about it.’ We know that isn’t the best course.”” Contact: jgreene@crain.com; (313) 446-0325; @jaybgreene
FEBRUARY 17, 2020 | CRAIN’S DETROIT BUSINESS | 5
MEDIA
Wayne State University Press authors slam firings of editor, managers Book publisher says it is hiring for ‘four critical positions’ BY KURT NAGL
Wayne State University Press is facing blowback from authors and scholars who have worked with the book publisher following the termination of three managers, including Editor-in-Chief Annie Martin. The Detroit-based publisher, part of Wayne State’s library system, made the job cuts Feb. 7, The Detroit News first reported. A letter denouncing the layoffs was sent to the university last Monday. It was signed by more than 60 authors and scholars who have worked with the publisher over the years. “We are writing to express our shock and anger at what is tantamount to the destruction of this venerable institution. In a series of moves that has left both published and prospective authors in the dark about the fate of their books, and has undermined the viability of the press, the new administration has, without notice, discharged the press leadership without cause,” the letter said. The book publisher plans to hire for “four critical positions” following the layoffs, The News reported, citing an email from Wayne State University Press to its faculty editorial board. The publisher reported to the provost until it became part of the school’s library system last fall. Its funding is separate from the library system. “While we do not comment on personnel matters, I can tell you that the university remains fully committed to the Press and it will continue to operate and publish books as it has for more than 75 years,” university spokesman Matt Lockwood said in a statement emailed to Crain’s. “The
Press has contracts with authors through 2022, and there are no plans to reduce or slow down its publishing schedule. The institution and the Library SysReeser tem recognize the importance of the Press within the larger scholarly ecosystem.” In its email to authors, interim director Tara Reeser said the publisher “will very soon hire for four critical positions,” including editor-in-chief. “I am writing to offer assurance that the press will continue to remain fully open, with initiatives that will move us forward ... these initiatives include serving you, as a very valued author, with all the attention, professionalism, and quality of work that should be expected of dedicated and skilled staff,” Reeser wrote. In response, the letter signed by authors and scholars said the terminations were “a breach of trust” and that the reputation of the publisher was built by those who were fired. “The summarial firing of Editor-in-Chief Annie Martin, Editorial, Design, and Production Manager Kristin Harpster, and Sales and Marketing Director Emily Nowak has violated the integrity of the press and the spirit of our publishing contracts,” the letter said. “Their removal has left a gutted press staffed with people without editorial and publishing expertise, which undermines the ability of the press to operate and severely damages its reputation.” Martin could not be reached last
week for comment. A message was left with Reeser, who reports to Jon Cawthorne, dean of Wayne State’s library system. In a report by Publishers Weekly, several sources blamed the firings on Cawthorne. The sources said Cawthorne had “openly criticized the fired employees for the Press’ inability to hire a new permanent director after all three finalists for the role declined to take the position.” The most recent permanent director of the press was Jane Ferreyra, who was there 2002-17. Kathryn Wildfong was appointed to a two-year term as interim director and Reeser took over as interim director in October. Joe Grimm, a former Detroit Free Press editor who works in Michigan State University’s journalism department, said that in terms of communicating to the authors about the leaderships cuts, the Press has been “pretty terrible.” Grimm said he has published five books with Wayne State University Press and couldn’t have done it without the help of those who were fired. “Initial reaction was kind of shock,” he said. “These were some key people who have helped a lot of people publish and promote their books. It would be difficult, I think, to find a more important group of people at the Press.” Wayne State University Press “is a leading publisher of Great Lakes books, Judaica, and African American studies,” according to its website. It publishes about 40 new books and 11 journals per year. Contact: knagl@crain.com; (313) 446-0337; @kurt_nagl
INFRASTRUCTURE
Detroit seeks public or private partners to revitalize Historic Fort Wayne BY ASSOCIATED PRESS
The Historic Fort Wayne property has languished for decades, but the city of Detroit is finally taking steps to redevelop the iconic fort. Detroit officials are seeking concepts for the city-owned 78-acre riverfront park as they finalize a lengthy process to lift multiple deed restrictions that limited the city’s ability to find new uses for the fort’s buildings that have endured decades of neglect. The property in the Delray community in southwest Detroit is adjacent to the future entrance of the $4.4 billion Gordie Howe International Bridge, broadening exposure for the site. “The fact that the bridge is happening is a big moment for Fort Wayne, because it has previously been so isolated,” Meagan Elliott, the city’s chief parks planner, told The Detroit News. The city is seeking public or private partners, including nonprofit, for-profit, governmental or quasi-governmental agencies and educational institutions with a vision for buildings on the sprawling campus, according to a draft of Detroit’s request for infor6 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
Detroit officials are accepting redevelopment ideas for the Historic Fort Wayne property. | CITY OF DETROIT
mation. The RFI is now available on the city’s website. The former military facility on West Jefferson contains an 1842 star fort, a fortress built to shoot cannons, prehistoric Native American burial mound and vacant buildings that, over time, have been used for residential, office and storage space. Detroit’s General Services Department plans to increase hours of operation there by the end of the year for
regular public visitation, according to a Wednesday news release. The city is asking for concepts that could target buildings, a group or the entire site along the Detroit River, the request being distributed by the city’s General Services Department says. The National Park Foundation and Kresge Foundation are funding the city’s planning process. Kresge in 2016 announced the partnership and a $265,000 grant to support the effort.
PEOPLE
Clinc CEO resigns after ‘inappropriate behavior’ complaints by employees Wife, co-founder to take over company on interim basis BY KURT NAGL
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Jason Mars, co-founder and CEO of the fast-growing Ann Arbor-based AI startup Clinc Inc., resigned last Monday following an independent investigation into employee complaints about “inappropriate behavior.” Co-founder and COO Lingjia Tang, Here’s to the entrepreneurs who is married to Mars, will take over creating a better world. on an interim basis along with If you’ve been inspired by an unstoppable co-founder and Chief Technology Ofentrepreneur or are one yourself, submit an ficer Michael Laurenzano, according Entrepreneur Of The Year® nomination today to a company statement. at eoy.ey.com. The company’s board of directors launched an outside investigation afApplication deadline is March 6, 2020. ter complaints were lodged by two employees in December. The fiveJoin us on June 24 for the Entrepreneur Of The Year® 2020 Michigan and Northwest Ohio week investigation included inter- Clinc co-founder Jason Mars is also an assistant professor of electrical engineering and awards gala in Detroit. views with 17 former and current em- computer science at Michigan Engineering. | EVAN DOUGHERTY/MICHIGAN ENGINEERING, COMMUNICAployees and a review of emails, TIONS & MARKETING Visit ey.com/us/eoy/mnwo for more information. screenshots and expense reports, the company said through New York City- Under 40 honorees in 2019. Alexa. The subscriptions-based softbased public relations firm MWWPR. Mars is an associate professor of ware was initially marketed toward “The Board and Clinc leadership electrical engineering and computer banks, but founders broadened their are committed to creating an inclu- science in the university’s College of focus to include hospitality, travel, sive work environment and are deter- Engineering. His employment status health care and gaming. Ford Motor mining next steps following the inves- with UM has not changed, said Co. recently became a client. tigation,” the statement said. “Jason spokesman Rick Fitzgerald. The company said it is looking to fill Mars has resigned as CEO at Clinc, so According to the statement from the CEO role with a permanent hire. Founded and produced by Nationally sponsored by as not to be a distraction from the im- Clinc, the investigation revealed “cerMars’ next move is undecided. “I’ve since stopped drinking and portant work the company is doing tain events that were alleged did not delivering the best AI software and happen as claimed, and that allega- am committed to sobriety,” he said in services to its clients.” tions of retaliation were without mer- the email to employees. “I have to In an email sent by Mars to employ- it. The investigation did highlight in- now take some time to ponder my ees, which was obtained by Crain’s, stances where behavior has been a next endeavor.” the ex-CEO hinted at the behavior that distraction to the success of Clinc and led to his resignation. also concluded that complaints con- Contact: knagl@crain.com; “After much consideration and dis- cerning such behavior were promptly (313) 446-0337; @kurt_nagl cussion with the leadership team and addressed by Clinc leadership.” the board, I have made the decision to “The investigation claims involved resign as CEO. ... Although the allega- allegations of inappropriate behavior,” tions against me are rife with embel- an MWWPR spokeswoman said in an lishments and fabrications some of email to Crain’s. which came out in the investigation, Mars’ resignation as CEO comes at the truth is there are cases where I a time of rapid growth for one of the drank too much and partied with em- most promising startups in Michigan. The company, which developed a ployees in a way that’s not becoming of a CEO,” Mars said in the email. “I’ve Siri-like, voice-controlled app, anlearned a hard lesson about seeing my nounced in May it secured $52 million employees as in Series B fundfriends and the “ALTHOUGH THE ing, bringing its importance of total amount setting proper ALLEGATIONS AGAINST ME raised to $60 milboundaries when ARE RIFE WITH lion and taking it socializing outa step closer to its side the work- EMBELLISHMENTS AND goal of going place.” public. New York FABRICATIONS SOME OF Reached by City-based priphone Tuesday, WHICH CAME OUT IN THE vate equity firm Mars told Crain’s INVESTIGATION, THE Insight Partners he “absolutely” led the most reresigned willing- TRUTH IS THERE ARE CASES cent funding ly. He said in a WHERE I DRANK TOO MUCH round, with other Event Logistics Creative Design text message to investors includ& Project & Production Crain’s, “I made AND PARTIED WITH ing Silicon ValManagement the decision to reley-based DFJ EMPLOYEES IN A WAY sign as CEO after Growth, Columdiscussions with THAT’S NOT BECOMING OF bus-based Drive the leadership Capital and ChiA CEO.” team and the cago-based Hyde board at Clinc. — Jason Mars, former Clinc CEO Park Venture I’ve been blessed Partners. with success early in my career and The company saw a 300 percent inAudio / Video Rigging, Lighting Global Partner I’m taking time to rest, reflect and re- crease in year-over-year revenue in new. I am proud of the team and what 2019, according to its website. It anTechnology & Staging Network we accomplished at Clinc. The com- nounced in June it would nearly double employee count to 140 by the end pany has a great future.” Through a spokesman, Mars said of 2019, move into a new he now “has no involvement with the 26,000-square-foot headquarters in downtown Ann Arbor and add an ofcompany” he co-founded in 2015. Mars and Tang, both assistant pro- fice in Los Angeles. Clinc developed a sophisticated fessors at the University of Michigan, launched the AI tech startup at the voice assistant app that the company university before eventually spinning says can understand complex converit out. They were named as Crain’s 40 sations beyond the abilities of Siri and
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COMMENTARY
COMMENTARY
Educators shouldn’t be an ATM for politicians
Quicken Loans’ headquarters is at One Campus Martius in Detroit.
BY PAULA HERBART
Corporate culture by the book, in action It’s a truism that “corporate culture” is paramount. Every company likes to tout theirs, but it’s seldom clear what they mean by culture. I think in many companies, nobody quite knows. Or the culture that they tout bears little relationship to reality. But “everybody” says it’s important. Rock Holdings/Quicken Loans Chairman Dan Gilbert saw confirmation of the tangible effects of culture after suffering a stroke last May. He has spent the months since in intensive rehab, now including three to four hours a day of physical and occupational therapy. But his companies have kept humming along, and the big decisions kept getting made by his lieutenants Jay Farner, Bill Emerson and Matt Cullen. Certainly, Gilbert hasn’t been out of contact. Farner notes that they chatted frequently before the boss started recently coming back into the office one or two days a week. While he was gone, some of the top leadership in his company was shaken up, a casino was sold, a plan for an innovation center with Stephen Ross and the University of Michigan was hatched and plans for the former Hudson’s site — as you can read on Page 20 — evolved, and kept evolving. The prime example of going very far down the rabbit hole of creating corporate culture is Quicken Loans’ “Isms Book.” The “Isms” — think words like aphorisms or truisms — are a set of simple philosophies intended to guide behavior and shape a culture. And “The Isms Book” is visible literally everywhere in the company’s One Campus Martius headquarters — on desks, on shelves, in the chairman’s own office. The first printing of the latest edition, which came out at the beginning of this year featuring an introduction from Farner for the first time, numbered 30,000 copies. Sell that many books, and you’re on the best seller list. One thing the books show that Quicken gets is that culture has to be engaging or employees won’t pay any attention. This isn’t just about being funny (though the books are honestly full of funny stuff). There’s creativity, variety. The books aren’t boring. Gilbert’s companies are famously demanding of employees — many of the Isms have to do with urgency and “customer obsession.” Gilbert used to personally give all-day semi-
Michael
LEE
Managing Editor nars to all new employees as an orientation — The New York Times described it in 2003 as an eight-hour “speech/indoctrination.” The obsession with culture sometimes strikes outsiders as creepy or controlling or maniacal. But there’s little doubt that it has worked — and continued to work when Gilbert himself was out of commission. There’s a brand-new 2020 edition, and if you walk through Rock Holdings’ offices in One Campus Martius, they are inescapable. You’ll find them in the chairman’s office itself. They serve as reminders, as conversation pieces. I’m a skeptic by nature, but I’m convinced these are not primarily a gimmick or external PR play. Boiled down, the “Isms” are practical, tangible and simple aphorisms that aren’t hard to put into practice. They’re so simple, it’s easy to dismiss them as superficial and facile — the book itself is laid out almost like a children’s book. But the way Gilbert’s companies have kept moving in his absence — not to mention their continued growth — is evidence of the power of the approach. Some examples of the Isms: ` “Responding with a sense of urgency is the ante to play.” ` “Numbers and money follow. They do not lead.” ` “A penny saved is a penny.” “Dan’s been, at least the 24 years I’ve been here, the entire time talking about the importance of the culture, the philosophies, making decisions,” Farner said in an interview. “So everyone knows that and is able to continue to operate and, I think, try to view things through the way Dan (would) whether he happens to be in the room with you or not at that moment or not.” The company’s response wasn’t lost on its founder, who spoke with Crain’s last week. In a voice a little quieter than before but no less sharp, Gilbert said, “If this teaches you anything, it teaches you gratitude, right?” That’s not a bad thing to have in a culture, either.
What would you say if your boss wanted to dip into your retirement savings to make building repairs, but assured you the money would be there when you needed it? You’d be rightly skepPaula Herbart is tical. More likely, you’d find a good lawyer. Michigan Now, put yourself in Education the shoes of Michigan’s Association school employees, president. whose retirement plans are being targeted again as a source of funding to fix the roads. Being told that some lawmakers want to stretch out pension payments to fix potholes rings the same to Michigan’s dedicated educators as it would to any other worker. The so-called Pensions for Potholes scheme would saddle taxpayers with as much as $23 billion in long-term costs, prompting conservative economist Patrick Anderson to call it irresponsible.
LETTER TO THE EDITOR
Michigan’s aerospace industry a ‘sleeping giant’ TO THE EDITOR: Michigan has been a national leader in the aerospace industry for nearly 80 years. A recent report from PriceWaterhouseCoopers ranks Michigan fourth in the nation and best in the Midwest for Aerospace Manufacturing and Attractiveness. Our growth, success and opportunities in the aerospace industry continue to be elevated in another new report. The Rosie Report, released by the Aerospace Industry Association of Michigan, focuses on companies who have obtained AS9100 certifications. Receiving AS9100 certifications is critical for companies in the aerospace industry as it provides globally recognized quality management standards that are often required to do business with larger manufacturing companies like Boeing and Lockheed Martin. This new report has Michigan ranked 11th in the country for the number of AS9100 certified aerospace companies and No. 1 for percentage growth in the first and second half of 2019. A total of 25 Michigan companies achieved AS9100 site certifications in 2019, compared with 12 companies in 2018. This is a huge accomplishment for those companies and the industry. It is also great news for the state as a whole and especially important as we see Michigan companies diversify themselves to serve the global aerospace market. As the CEO of Array of Engineers, we knew obtaining an AS9100 quality-management certification was critical for our aerospace industry success. We only had one aerospace customer at the time and knew that in order to grow, we had to be proactive in the aviation,
Write us: Crain’s welcomes responses from readers. Letters should be as brief as possible and may be edited for length or clarity. Send letters to Crain’s Detroit Business, 1155 Gratiot Ave, Detroit, MI 48207, or email crainsdetroit@crain.com. Please include your complete name, city from which you are writing and a phone number for fact-checking purposes. 8 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
What’s more, it’s not just taxpayer money this scheme risks. School employees put more than a half-billion dollars per year into the Michigan Public School Employees Retirement System (MPSERS) — in 2018 alone, more than $603.7 million came directly from the paychecks of teachers and other school employees. So, what do educators think when politicians plot to rea- WE NEED REAL mortize MPSERS, REVENUE generating that same half-billion per year SOLUTIONS for roads? That mon- — NOT MORE ey may as well come directly from their SHELL GAMES. paychecks — checks that are too small to begin with, according to growing volumes of research about the teacher shortage. Michigan’s dedicated educators deserve better than to be treated as an ATM for politicians. We need real revenue solutions to fix our crumbling infrastructure and properly fund our schools — not more shell games and gimmicks like Pensions for Potholes.
space and defense industry to obtain this certification. The internal costs of striving for an AS9100D certification were well worth the long-term results. Not only does the certification help grow AoE as an individual company, but it also makes Michigan more attractive to other industry partners looking to expand their aerospace footprints in the Midwest. The certification is part of the larger aerospace ecosystem. Michigan has over 800 companies conducting business in the global aerospace industry. Continuing to brand Michigan as an aerospace industry hub will not only yield more investment, but serve as an attraction for the country’s future talent. Michigan has 18 academic institutions providing aerospace and/or aviation-related curriculums and degrees, generating new talent each year. Making new investments, combined with these top-tier institutions, will allow us to retain Michigan-grown talent rather than losing it to other states. Aerospace has been Michigan’s best-kept secret and our “sleeping giant.” With reports like PwC and the Rosie Report, people are starting to take note of this sustainable and flourishing part of our economy. Stacy Paul CEO, Array of Engineers Ambassador member, Aerospace Industry Association of Michigan
MORE ON WJR ` Listen to Crain’s Group Publisher Mary Kramer and Managing Editor Michael Lee talk about the week’s stories every Monday morning at 6:15 a.m. Mondays on WJR 760 AM’s Paul W. Smith Show.
Sound off: Crain’s considers longer opinion pieces from guest writers on issues of interest to business readers. Email ideas to Managing Editor Michael Lee at malee@crain.com.
OTHER VOICES
Fixing the formula for road funding won’t fix the real problem BY DENNIS KOLAR
Here we go again. Every time we in Michigan have a serious discussion about fixing our roads, those who refuse to acknowledge that we need more Dennis Kolar, money to do so P.E., is inevitably argue managing that we simply director of the Oakland County need to change the road-funding Road distribution forCommission. mula spelled out in Michigan Public Act 51. This discussion then always turns into an attack on Act 51, usually including the assertion that the act must be outdated, since it was first enacted in 1951. What those making this argument forget to mention is that the act is a dynamic document that has been updated numerous times over the years and has done a good job of balancing the many and diverse road needs in our state. It has stood the test of time. One of the ways Act 51 has kept up with the times is by recognizing the additional needs of urban areas by introducing the Urban Factor, which directs additional money to urbanized counties. Another way is through the recognition of moveable bridges and the creation of special funding just for these unique structures. These are just two of the many ways the act has been adapted over the years. In other words, our Legislature has always done a good job of updating the act when needed to address the ever-changing transportation world. This process has occurred through careful deliberation and a recognition of the many and varying transportation funding needs facing Michigan. Unfortunately, most recently, there has been a knee-jerk reaction to our current funding crisis. Rather than providing truly adequate funding to address our transportation needs, some have instead proposed to change the Act 51 funding-distribution formula so that population is the dominant factor. While population is certainly an
important factor (which is why it is each contributes substantially to the one of the factors that Act 51 takes into state coffers. However, if we change the Act 51 account), it is far from the only factor influencing road needs. For example, road-funding distribution formulas to focusing only on population neA FAR BETTER SOLUTION FOR OUR STATE gates the importance of the sec- WOULD BE TO DO WHAT VIRTUALLY EVERY ond and third largest industries OTHER STATE HAS ALREADY DONE: in our state: agri- PROVIDE ADEQUATE ROAD FUNDING FOR culture and tourALL PARTS OF THE STATE, NOT JUST THE ism. Neither agri- HIGHLY URBANIZED AREAS. culture nor tourism generate large numbers of per- focus solely on population – which, manent residents. However, each is frankly would benefit my county – we highly dependent on good roads, and will likely create a very detrimental
impact on both the agricultural and tourism industries. A far better solution for our state would be to do what virtually every other state has already done: provide adequate road funding for all parts of the state, not just the highly urbanized areas. After all, we truly are one Michigan. We in Southeast Michigan rely on the agricultural products produced in the rest of the state and we, more than any other region of the state, participate in the bountiful tourism offerings of our friends to the north and west. Selecting population as the dominant factor in assigning road funding makes no more sense than, say, bas-
ing road funding on the number of bushels of corn or the tons of sugar beets a county produces or on the number of visitors to a county’s beaches. Let’s stop allowing those opposed to adequate road funding from diverting our attention to silly side issues. Rather, let’s keep our gaze focused where it should be: on the real challenge, which is adequately funding our roads. If we really want Michigan to succeed and compete, it’s time we finally catch up with most of the other states in the nation and provide every part of our state with the dollars needed to fix our damn roads.
COOL PLACE TO WORK?
BRAG ABOUT IT.
Is your company a great place to work? We want to know! The Cool Places to Work in Michigan awards program recognizes and honors the state’s top employers who show a dedication to their employees’ growth and quality of life. Don’t miss out – this is your opportunity to join the ranks of Michigan’s most outstanding companies! List making companies will be highlighted in a special section that will be published by Crain’s Detroit Business on August 3.
CRAIN’S AWARDS
Is your company a Cool Place to Work? Tell us Crain’s Cool Places to Work honors Michigan companies that go above and beyond to create an engaging workplace culture. Companies are judged based on a workplace assessment and employee survey that also provides your organization with valuable insight and honest feedback. To participate, companies must register by March 6. The ranking of this year’s winners will be published in the Aug. 3 edition of Crain’s Detroit Business. To learn more or begin the process, go to coolplacestoworkmi.com to learn more. For questions, contact special projects editor Amy Bragg: abragg@crain.com or 313-446-1646.
DEADLINE: MARCH 6 | REGISTER TODAY: CrainsDetroit.com/Nominate PROUDLY PRESENTED BY:
FEBRUARY 17, 2020 | CRAIN’S DETROIT BUSINESS | 9
ALI LAPETINA FOR CRAIN’S DETROIT BUSINESS
FOCUS | WOMEN IN LEADERSHIP
Monica Martinez
SPEAKING HER LANGUAGE Monica Martinez keeps her culture alive at Comerica Bank BY RACHELLE DAMICO | SPECIAL TO CRAIN'S DETROIT BUSINESS
W
hen Monica Martinez was growing up, she knew she wanted a career path that would allow her to use her Spanish. Martinez, a first-generation Hispanic American, was taught Spanish by her grandmother, who immigrated to the U.S. from Mexico. “We live in this amazing country that’s known as a melting pot, but sometimes we lose a little bit of the culture and the traditions with each generation that comes here,” Martinez said. “I knew that being able to use Spanish was important to me.” Now, as the senior vice president of National Community Affairs for Comerica Bank, Martinez manages the bank’s national Hispanic business development program and serves as the community liaison in Michigan.
10 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
“WE LIVE IN THIS AMAZING COUNTRY THAT’S KNOWN AS A MELTING POT, BUT SOMETIMES WE LOSE A LITTLE BIT OF THE CULTURE AND THE TRADITIONS WITH EACH GENERATION THAT COMES HERE. I KNEW THAT BEING ABLE TO USE SPANISH WAS IMPORTANT TO ME.” — Monica Martinez
“The Hispanic population under 18 is the largest majority minority, and the buying power is very strong,” Martinez said. “Any corporation that looks at the future has to plan for their customer base.” The financial service company, which is headquartered in Dallas, Texas, is the largest bank employer in metro Detroit. Comerica has more than 4,700 employees statewide and nearly 200 locations in Michigan. The bank has locations in Texas, Arizona, California and Florida, with select businesses operating in several other states as well as Canada and Mexico. Its Michigan headquarters is located in downtown Detroit. Martinez oversees the bank’s external community initiatives and partnerships nationally, as well as Comerica’s business resource groups and corporate volunteer programming in lowand moderate-income communities.
Did you know what you wanted to do when you were growing up? No, but I knew using Spanish was important to me. I was born in southwest Detroit, an area where a lot of the Hispanic community lived. My grandparents emigrated from Mexico. Like many people who came to the U.S. and settled into the Detroit area, the automotive industry was the allure. My grandmother taught me Spanish when I was a little girl. Around high school graduation, when students were making career plans, I thought about being a bilingual teacher. My mom told me Eastern Michigan University was a strong school for educators, and that’s why I went to EMU. After two years of general studies, I changed my major to language and international trade. That took me on a path of enrolling in business school and being able to utilize my Spanish in a business setting. See MARTINEZ on Page 11
FOCUS | WOMEN IN LEADERSHIP
MARTINEZ
From Page 10
`How did you end up at Ford Motor Co.? When I was a little girl, my mom used to drive me from Detroit to Dearborn for ice skating classes that I took at Fairlane mall. On the way, we would pass by the Ford World Headquarters. She would say, ‘Really important people work in that building.’ I thought, ‘Wow, I want to work there.’ When I changed my degree to do business, I set my sights for my ultimate dream company. I needed to figure out how to get a job at Ford and use my degree in the global company space. And of course, we all want to do good and make our parents proud. During college, I started working for the Ford subsidiary, where I was hired as a translator for a project that involved delivering vehicles to different countries for people in the U.S. military who purchased vehicles through Ford. After college, Ford was looking for someone who could read, write and translate in Spanish. I started doing Hispanic outreach, but noticed there were so many other things that surrounded that type of position. I didn’t know corporations had departments that completely focused on giving back to the community. Originally, I didn’t set out to go in that direction. Ford had the Ford Fund, and that’s where I saw that there was volunteerism, diversity outreach and these other elements that started my interest and curiosity. It really formed the beginning of my career and the direction in which I would later go, and has gotten me to where I am today. It’s a very rewarding type of role, so it’s easy to gravitate to. ` Why did you decide to leave? When I left in 2006, there was a lot of chatter about the automotive industry going through changes. A colleague who is very close to me said, ‘The Titanic is sinking. If you’re smart, you get on one of those first lifeboats out of here.’ It was a teachable moment. That day, I immediately became aware of other positions that were around me. While I was at my new job at Comerica, I was here for about six months when the
“ONE OF THE THINGS THAT I LEARNED EARLY IN MY CAREER IS THAT YOU COULD BE VERY TALENTED AND ONE OF THE HARDEST WORKING PEOPLE IN THE ROOM, BUT IF YOU DON’T ADVOCATE FOR YOURSELF, YOU COULD MISS AN OPPORTUNITY.” — Monica Martinez
bailout and all of the things that surrounded the industry started to happen and kind of crumble. The economy at that time was very challenging, and many people lost their jobs. Many of my former colleagues were calling me at that point looking for positions. `Tell me about your role now. I am responsible for the management of our 19 business resource groups nationally. In essence, they are diversity teams that are doing business development in the community. They include Hispanic, Middle Eastern, African American and women groups. We’re training our internal employees to work with a diverse group that they may not be used to. Often, if you’re part of the African American initiative, you may not be African American. Or you may not be Hispanic if you’re in the Hispanic group. We take individuals from different business lines and ask them to partake in different networking events, create new relationships and try to get new business, even though they wouldn’t intentionally go out into that diverse community. We know that teams who embrace diversity and have diversity of thought are more successful than groups of people who all think, do and act alike. I also oversee our volunteer programs nationwide with the Community Reinvestment Act. (The 1977
law encourages financial institutions to reinvest in the communities they serve). I’m working with our market managers to ensure that every market has financial education and volunteer opportunities. Our employees are going out and doing some great things — for instance, teaching classes at grade school, high school and college about being financially responsible. We also teach small businesses more about their business plan and how to strengthen their ability to be financially responsible. The other piece is I’m involved with all of our philanthropic activities. I can be seen anywhere Tuesday-Saturday out almost every night representing the bank at different events, giving remarks or sitting on a panel participating in various charitable work we do in the community. One thing that Comerica does is our Comerica Hatch program, where we give away $100,000 to the individual who has the best business plan for opening up a business here in Detroit. (Last year, independent bookstore 27th Letter Books won the contest. Owners Drew and Erin Pineda aim to open up a brick-andmortar location in downtown Detroit with the prize money.) It’s truly fascinating to be at the front table of looking at how we can impact and influence our community for the better so that we’re all thriving. `Do you have any advice for those who are entering corporate America? One of the things that I learned early in my career is that you could be very talented and one of the hardest working people in the room, but if you don’t advocate for yourself, you could miss an opportunity. Having a trusting relationship with your leaders and letting people know what you want is very important. There could be a good opportunity within your organization which you are a good match for, and if you never say anything, someone else can get it. Having a vision and the opportunity to share your long-term goals with others are very important because certain opportunities may pass you by. Also, get a mentor. They can shorten that path to where it is that you may be trying to go, because they’ve already walked it.
The Martinez File Education: Martinez holds a bachelor’s degree in international business from Eastern Michigan University. She earned certifications in nonprofit management and corporate community relations management. Martinez is a graduate of the Southern Methodist University management program and is certified in diversity management from Cornell University. Career ladder: Martinez began her career at Ford Motor Co. in 1996, where she performed business development duties that included customer service, marketing and employee training. About two years later, Martinez took a role as the diversity relations manager, where she coordinated Ford’s philanthropic efforts in local and national Hispanic-related events and administered the department’s budget. From 2000-2002, Martinez worked as Ford’s corporate contributions and volunteer manager. From 2002-2006, Martinez directed a range of government programs and activities as Ford’s government relations manager. She left Ford in 2006 for Comerica Bank, where she took a role as the VP of diversity and national Hispanic business development. In her role, Martinez served as Comerica’s spokesperson in the Hispanic community. She became corporate contributions director in 2011, overseeing Comerica’s charitable contributions budgets and corporate philanthropic giving in the Texas and Arizona markets. She had a dual role as the National Hispanic Business Development director. From 2016-2018, Martinez worked as Comerica’s senior VP of external affairs and Hispanic outreach. She was promoted to SVP of national community affairs in December 2019. Current role: Senior vice president of national community affairs, Comerica Bank Fun fact: Martinez led the launch of Comerica’s website in Spanish.
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TH EB O U LE VA R D.C IT Y FEBRUARY 17, 2020 | CRAIN’S DETROIT BUSINESS | 11
HOSPITALITY
Dearborn says former Hyatt Regency reopening not imminent Hotel’s attorney cites progress, but city says inspection shows continued safety violations BY SHERRI WELCH
The city of Dearborn said an inspection last Tuesday of The Edward Hotel & Convention Center in Dearborn show continued safety violations that indicate the hotel will not reopen in the near future, despite an announcement made by hotel representatives. An attorney representing the hotel said last Monday that his firm was in talks with the city of Dearborn to reopen the hotel over the next couple of months. The Tuesday inspection came after the hotel’s attorney issued a statement saying many but not all repairs had been completed. The permits the city has on file are for minor and emergency repairs to failing electrical and mechanical systems, said Paula Rivera, a spokeswoman for the city, in an email to Crain’s. However, “there has not been enough significant progress made with the work that is ongoing at the hotel to suggest that a grand reopening could occur in the near future,” she said. “There are serious concerns with systems directly related to safety, including fire safety systems, which are not up to code and require substantial work.” While Dearborn’s Economic and Community Development Department and Property Management and Development Services teams have had brief talks with hotel representatives, it would be “premature and speculative” to comment on any timelines or dates associated with these renovations, Rivera said. “With regards to any safety violations, The Edward Hotel team has undergone a massive overhaul of the
The city of Dearborn and owners of The Edward Hotel & Convention Center are at odds over plans to reopen the hotel, which has been shuttered since December 2018. | THE EDWARD HOTEL & CONVENTION CENTER
systems identified needing to be updated,” said Odey Meroueh, founding partner of Meroueh & Hallman LLP, in an email Monday. The firm is representing the hotel in its negotiations with the city and Wayne County to resolve safety violations and delinquent tax issues. Meroueh said the hotel’s owner Xiao Hua “Edward” Gong and his staff have made significant restorations to the fire safety, electrical, plumbing and water systems, along with other updates made to the hotel, which “was in a state of utter disrepair, needing countless necessary repairs and system upgrades” when Gong acquired it in January 2016.
Meroueh said his firm is talking with Dearborn Mayor Jack O’Reilly’s office, the city’s Economic and Community Development department and building authorities “regarding a grand reopening date within the next couple of months that will springboard The Edward’s return to being known as a regional and international jewel.” Beyond eco-friendly infrastructure updates, the hotel plans two new restaurants as well as a bar and breakfast rotunda, Meroueh said. “While not every violation cited has been completely repaired or updated, significant progress has been made to those ends,” and the hotel
plans to provide firm dates for completion of required repairs and updates when it meets with city officials, Meroueh said in a subsequent email Tuesday. The 772-room hotel and conference center, the second largest in the state, has sat vacant since December 2018 when the city of Dearborn closed it for safety violations. The hotel has secured a payment plan with Wayne County, negotiated by Meroueh & Hallman, to keep the hotel out of foreclosure, for now. Under the deal, the hotel must pay off just shy of $475,000 in back taxes owed for 2017 by early September. The hotel is also delinquent on
2018 property taxes that totaled $606,095. Those taxes will be subject to foreclosure in 2021. But the hotel and two other properties owned by Gong in Chicago were frozen by the U.S. District Court for the District of Columbia in October 2018, at the request of the Ontario Superior Court of Justice. Gong, who lives in Toronto, is facing charges in Canada, including fraud and money laundering, in connection with the sale of worthless stock certificates from 2012 to 2017. He denies the charges. Contact: swelch@crain.com; (313) 446-1694; @SherriWelch
REAL ESTATE
AC Hotel by Marriott to take place of West Elm at Bonstelle project BY KURT NAGL
A $46 million AC Hotel by Marriott will take the place of the scrapped West Elm hotel at the Bonstelle Theatre development project in Detroit’s Brush Park neighborhood. Construction on the 10-story, 153room hotel is expected to start this summer and be complete by late 2021, according to a Tuesday news release. It would be the first AC Hotel-branded hotel in Southeast Michigan by the Maryland-based hospitality company. Grand Rapids has the only one in Michigan. The Detroit project includes a full renovation of the theater to its original 1903 Albert Kahn-designed exterior and 1925 C. Howard Crane-designed interior, the release said. It will also include a 4,000-square-foot glass conservatory fronting Woodward Avenue. The hotel is being developed by Detroit-based Roxbury Group and will be managed by San Diego-based Azul Hospitality Group. Design for the project is being handled by Detroit-based Patrick Thompson Design. Detroit-based Christman Co. is the general contractor.
A $46 million construction project planned in Detroit’s Brush Park includes a new AC Hotel by Marriott and restoration of the Bonstelle Theatre.
“We take a great deal of pride in pairing high-end hospitality with iconic historic properties, and we are honored to be restoring the beauty of the Bonstelle and seamlessly integrating it with the modern sensibility
12 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
of AC Hotels,” David Di Rita, principal of the Roxbury Group, said in the release. Detroit’s emerging hospitality market has been filling up with midsize hotels in recent years. AC Hotel
would join the 130-room Shinola Hotel, 98-room Siren Hotel and 110room Element Detroit, also developed by Roxbury. Wayne State is decommissioning the Bonstelle and a building at 95 W.
Hancock St. as part of the $65 million Hilberry Gateway Performance Complex project. Wayne State’s board approved in March a 45-year lease of the theater to Roxbury. The Bonstelle project first announced in 2018 originally called for a West Elm-branded hotel, but the development deal with the Brooklyn-based company fell through around the same time it scrapped a project in Indianapolis. The West Elm was to have 130 rooms and 12 floors. The hotel is a ground-up development to the north of the theater and will be connected to it via the glass conservatory. Managed by Azul Hospitality, the theater space will be used for hotel-related events and available to the public to rent. Room sizes and rental rates have not been established. In addition to a fitness center, library and other amenities, the hotel will have a yet-to-be announced food and drink concept on the ground floor. “We are very excited to be bringing the AC Hotels brand to Detroit, and to be doing so in such grand fashion with the connection to the Bonstelle Theatre,” Di Rita said. Contact: knagl@crain.com; (313) 446-0337; @kurt_nagl
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HEALTH CARE
DMC backs off plan to increase residency slots in 2020 Sources say system nearly over funding cap, would have to pay for residents out of budget BY JAY GREENE
Detroit Medical Center reversed plans earlier this month to increase medical residency slots in July beyond the approximately 1,100 it currently has working at its six hospitals and three campuses in Southeast Michigan, Crain’s has learned. A DMC official confirmed that the for-profit health system decided “not to add additional training positions for the coming academic year.” Hospitals select residents in March during the so-called “match” process. They begin training in early July for programs that range from three to seven years. DMC declined further statements, but three sources, who asked for confidentiality, said DMC is nearly over the federal resident funding cap and would require it to pay for some of the additional residents out of its operating budget. Resident salaries are typically subsidized by federal dollars and money from other funders. “After granting significant increases in residency positions a year or two ago, they just cut positions across the board,” a DMC insider told Crain’s. In a statement, DMC spokesman Brian Taylor said: “Medical education is a core mission of DMC. Our programs have expanded significantly over time. We have elected not to add additional training positions for the coming academic year. No current residents will be impacted by this decision.” However, DMC recently lost an appeal that will force the closure on June 30 of its 12-doctor neurosurgery residency program. While some of those residents have found positions at other hospitals, DMC has so far not released federal funds already allocated to it for the resident training, two sources told Crain’s. DMC declined further comment on the neurosurgery closure or the decision to reduce planned resident additions. But the sources said the neurosurgery residents will not be able to transfer to the other hospital programs until DMC releases the funding from the U.S. Centers for Medicare and Medicaid Services, causing a vari-
Detroit Medical Center operates six hospitals in Southeast Michigan. | KURT NAGL/CRAIN’S DETROIT BUSINESS
ety of problems for the residents, many of whom are in the middle of their training. Moreover, DMC sources said the hospital system will need to hire more neurosurgeons and advanced practice nurses to pick up the work on patients that the residents who will be departing provided. DMC officials said the hospital system will reapply for a new neurosurgery residency program. However, accreditation rules state that reapplications for a program restart must wait until after the program closes. In DMC’s case, that would be June 30. Sources said DMC still has to address the problem of gaining academic faculty appointments with a medical school for its attending neurosurgeons to oversee residents. Wayne State University terminated the faculty positions after four neurosurgeons became DMC employees. DMC is owned by Tenet Healthcare Corp., an investor-owned company based in Dallas.
DMC residency programs Many of DMC’s 65 residency pro-
grams have unfilled positions, and program directors and department chairs have been advocating for additional residents, sources said. DMC also has cut its workforce by more than 1,500 over the last four years and employees and managers have complained about employee and staff shortages that have impacted patient care, sources said. Last fall, DMC told residency program directors it would increase residency positions in a number of programs in the coming year to address workforce issues. “The programs posted the increased number of positions and interviewed people. But before the (residency match in early March), they took away the positions,” the source said. It is unclear how many residents would have been hired. DMC announced in January 2019 it would hire another 79 residents over the next two years to bolster primary care coverage in Detroit. DMC declined to state how many residents were hired in 2019 and how many it planned to hire to fill this year. Currently, DMC has 65 residency programs with about 1,100 residents.
A Crain’s analysis in 2019 found that DMC had at least 81 unfilled and unfunded residency positions, which was more than enough to cover the 79 positions it planned to add, according to data provided by the Accreditation Council for Graduate Medical Education in Chicago. DMC verified the numbers were accurate. For example, DMC’s largest residency program, internal medicine, had 248 approved resident slots and 64 unfilled and unfunded positions in 2019 at DMC Sinai-Grace Hospital, DMC Huron Valley Medical Center and other DMC teaching hospitals downtown, said the ACGME. DMC also had eight open psychiatry residency positions, seven open internal medicine-pediatrics slots and four available emergency medicine residency positions, said ACGME. Sources told Crain’s that directors in many of these programs expected some of their unfilled positions to be filled this year. Since 1997, Medicare has imposed a cap on numbers of residents it pays for at hospitals to hold down costs. While each hospital like DMC has a unique reimbursement cap on the
number of residents that Medicare pays for, they can add residents using their own funding sources. Many hospitals in Michigan exceed those caps, including Henry Ford Health System in Detroit and Michigan Medicine in Ann Arbor. Hospitals, on average, receive between $140,000 to $180,000 per resident from Medicare and other funders to pay for resident training costs. Costs to train residents also vary, but internal medicine residents cost hospitals about $125,000 to $140,000 per resident while family medicine residents, because of more ambulatory care duties, may cost a hospital $140,000 to $150,000 per resident annually, Crain’s has previously reported. The average first-year resident salary is about $50,000 per year, although it can vary based on hospital, region and specialty. In comparison, a physician assistant or nurse practitioner salary ranges averages about $100,000 per year. DMC has one of the largest physician training programs in Michigan, generating millions of dollars in payments. It operates the programs through academic affiliations with Michigan State University’s College of Osteopathic Medicine and Wayne State University’s School of Medicine. On average and depending on the hospital service, residents provide a large amount of direct care to patients, sometimes rivaling floor nurses. If residents are cut or removed from the patient care equation, hospitals are forced to hire additional hospitalist physicians, nurses, physician assistants, nurse practitioners and licensed practical nurses for patient care, which increases costs. But over the past 15 years, changes in accreditation regulations — designed to reduce medical errors — have forced hospitals to cut work hours for residents and give residents more outpatient training opportunities. These policies have reduced the time residents have available for inpatient care. Contact: jgreene@crain.com; (313) 446-0325; @jaybgreene
TECHNOLOGY
Southfield tech consulting firm Altimetrik grows global presence BY NICK MANES
A veteran Southeast Michigan entrepreneur is working to grow his 8-year-old company by further tapping into metro Detroit’s growing technology sector. Altimetrik Corp., a Southfield-based technology consulting and “business transformation” company with a Vattikuti client base consisting of a broad range of enterprise firms and startups, announced last week that it has opened new offices in Tokyo, Vancouver, St. Louis and Bangalore. The company also operates a Collider office on Woodward Avenue in downtown Detroit.
Altimetrik’s downtown Detroit office | ALTIMETRIK
14 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
That office aims to attract talented workers to Detroit startups, help companies develop a corporate culture and focus on innovation for companies large and small, according to Raj Vattikuti, founder and CEO of Altimetrik. The office — which also gets used as an event space for the Detroit startup community — makes for a good investment for the company to help grow the burgeoning entrepreneurial economy in the region, Vattikuti told Crain’s in an interview. “There’s no particular way we can explain that than to let the people come and then see how it works and how they can relate it to (their companies),” said Vattikuti. “That’s why the Collider has a great opportunity for the whole network (of startups).” Each office was in response to specific customer needs, said Vattikuti. The company now has about 2,500
employees and has revenues around $100 million that Vattikuti forecasts to grow by more than 25 percent in coming years. Altimetrik is something of a second act for Vattikuti, who previously ran Farmington Hills IT firm Covansys Inc. before selling the company in 2007 for a reported $1.3 billion. Asked whether he’s seeking a similar exit for his Altimetrik venture, Vattikuti said he’s just focused on growing the company and that includes a plan to develop custom intellectual property for the business consulting firm. But Vattikuti didn’t rule out the possibility of an exit in the future. “At this point, I would say we’re continuing to grow, bring clients, build the I.P., and then we’ll see,” he said. Contact: nmanes@crain.com; (313) 446-1626; @nickrmanes
NOMINATION PROGRAMS
OPEN
For the eighth year, Crain’s will recognize the Cool Places to Work — companies that, according to their employees, go above and beyond in putting a focus on workplace culture. NOMINATIONS CLOSE: MARCH 6 ISSUE DATE: Aug. 3
Crain’s Excellence in HR Awards recognizes metro Detroit’s outstanding human resources executives and teams. HR professionals are the nerve centers of their businesses – taking care of its people, controlling costs, keeping the business in compliance and helping achieve its strategic goals. NOMINATIONS CLOSE: MARCH 11 ISSUE DATE: June 15
Health Care Heroes honors top-notch medical innovators and patient advocates dedicated to saving lives or improving access to care. Winners are selected in multiple categories. NOMINATIONS CLOSE: MARCH 11 ISSUE DATE: June 1
Since 1991, Crain's Detroit Business has gathered 40 of the community's overachievers for a special salute. Past winners have started companies, found success at a young age, established businesses and made nonprofits stronger. NOMINATIONS CLOSE: MAY 4 ISSUE DATE: Sept. 7
For more information or to nominate, visit crainsdetroit.com/nominate
CALENDAR
Advertising Section
PEOPLE ON THE MOVE
To place your listing, visit www.crainsdetroit.com/people-on-the-move or for more information, please call Debora Stein at (917) 226-5470 or email dstein@crain.com. ACCOUNTING
FINANCIAL SERVICES
REAL ESTATE
UHY Advisors
UHY Corporate Finance
Bellwether Enterprise
Kathleen Crockett is a managing director of UHY Advisors MI, Inc. She is a leader of the tax practice specializing in tax compliance, business forecasts, and tax strategies. Crockett has built her practice in multiple areas such as manufacturing, high net worth and medical industries. She is actively involved in the Women Investing in Success and Excellence Group (WISE) for the Great Lakes region.
Alex Conti is a managing director of UHY Corporate Finance. He leads a team of professionals dedicated to executing transactions at all levels; including due diligence, restructuring and capital sourcing. He works closely with business owners to value companies and negotiate deals that are mutually beneficial between both parties and create new opportunities. Conti received his B.B.A. in Finance, Investments and Banking from University of Wisconsin-Madison and is a FINRA licensed representative.
Bellwether Enterprise, a nationwide commercial mortgage banking company, announces the promotion of Adam Gould to Senior Vice President of its Birmingham, MI office. Adam has more than 20 years of finance and banking experience and is dedicated to financing commercial real estate for his clients. As a direct lender for HUD, Fannie Mae, Freddie Mac, and 50 life insurance companies, Bellwether Enterprise closed $7.9 billion in loans in 2019 and has an annual servicing portfolio of $26 billion.
ACCOUNTING
BDO USA, LLP BDO USA, a global accounting firm, welcomes Amy Whipple as Business Development Director. Amy brings over two decades of consulting, recruiting, fundraising, marketing, and sales experience to the firm. In collaboration with the assurance, tax, audit and advisory practices, Amy serves as a trusted business advisor to BDO clients. Amy is a co-founder of 100 Businesses Who Care and 100 Women Who Care. Amy’s passion for impacting companies and the community aligns perfectly with BDO’s core values.
NEW HIRE? PROMOTION? BOARD APPOINTMENT? PROFESSIONAL SERVICES
Plante Moran Marten van Pelt joins Plante Moran as its new chief marketing officer. Previously, he worked at KPMG, leading marketing for its U.S. advisory practice. As CMO, he’ll oversee all marketing functions, including strategy, sales, digital marketing, proposal support, PR, advertising, and internal and external communications. In addition to his global marketing expertise, Marten is known for his exceptional interpersonal skills, particularly his track record in mentoring and promoting people.
Pure Michigan Business Connect — Meet the Buyer: Doing Business with the Government. 8:30 a.m.-noon. State of Michigan. Information on how to sell products or services to the government with roundtable discussions. Scheduled participants include: state of Michigan, Wayne County, MDOT, city of Detroit, Great Lakes Water Authority, Wayne County Airport Authority, city of Dearborn, city of Livonia, city of Romulus, Detroit Water Authority. DNR Outdoor Adventure Center, Detroit. Free. Contact: Salifou Mahaman, email: mahamans@michigan.org; website: pmbc.connect.space/doing_biz_ gov/details Positive Links Speaker Series: Lindy Greer. 4-5 p.m. University of Michigan. Lindy Greer, associate professor of Management and Organizations at Michigan Ross Greer and the faculty director of the Sanger Leadership Center, speaks on “How to Create Positive Team and Organizational Hierarchies.” She will discuss data-driven strategies which can allow hierarchy to be a useful and positive organizational tool, including helping leaders learn how to “flex” the hierarchy, to humanize the hierarchy through sharing emotions at work and to reduce competitions around hierarchy by creating areas of individual ownership and autonomy. Ross School of Business, Ann Arbor. Free. Contact: Center for Positive Organizations, email: cpo-events@ umich.edu; phone: (734) 647-8154.
THURSDAY, FEB 20
Crain’s People on the Move showcases industry achievers and their companies to the Detroit business community. Contact: Debora Stein at dstein@crain.com
DISTRIBUTION
Starting on the Path to Why: How Mission-Driven Decision Making Affects Your Business, Career and Life. 11:30 a.m.-1:30 p.m. Women’s Exchange of Washtenaw. Fundraising consultant Patricia Berry will lead the workshop. Information will include how to identify a core mission, how to apply the core mission to arrive at decisions and how to evaluate outcomes. 2900 S. State St., Ann Arbor. $30 by Feb. 13; $35 after Feb. 13; $40 at the door. Website: wxwbusiness. com/events/upcoming-events
FRIDAY, FEB. 21
National Food Group PUBLIC RELATIONS
Franco Franco is pleased to announce the promotion of Nikki Little to vice president of strategy. In her new role, Little oversees strategic initiatives for both clients and the agency, with a specific focus on integrating and aligning communications services to optimize results. She also leads Franco’s digital marketing team and manages several Franco accounts and team members. Outside of Franco, Little publishes The MichComms Report and volunteers with Impact100 Oakland County.
16 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
NEW GIG? Preserve your career change for years to come.
How to Optimize LinkedIn to Support Your Brand and Generate Leads. 8:30-11 a.m. Marketing & Sales Executives of Detroit. Brenda Meller, owner and marketing consultant, Meller Marketing, shows how to build a profile and generate leads using LinkedIn. Automation Alley, Troy. $100
Plaques • Crystal keepsakes Frames • Other Promotional Items
Laura Picariello Reprints Sales Manager lpicariello@crain.com (732) 723-0569
members; $150 nonmembers. Website: msedetroit.org/event-3710680/ Registration
UPCOMING EVENTS 2020 MICHauto Summit. 11:45 a.m.3:30 p.m. Feb. 25. Detroit Regional Chamber. Industry leaders and stakeholders will address key industry issues, provide program updates and release MICHauto’s latest edition of the Michigan is Automobility report. College for Creative Studies. $75 chamber members and MICHauto investors; $125 nonmembers. Contact: Katy Palahang, phone: (313) 596-0384. 17th annual East-West Business Connection “Envision Success.” 9:30 a.m.-4 p.m. March 5. Asian Pacific American Chamber of Commerce. Program includes keynote, networking, exhibits and lunch. Laurel Manor, Livonia. $80 member; $105 nonmember. Contact: Leonie Teichman, email: leonie@apacc.net; website: apacc.net 8th annual Great Lakes Data & Analytics Summit. 8 a.m.-5 p.m. March 12. WIT Inc. Program includes information about upcoming trends in the analytics field. Speakers will include data analytics leaders from Steelcase, Carhartt, Signet Jewelers and TD Ameritrade. The featured keynote speaker is Alan Jacobson, chief data and analytics officer at Alteryx who will present “Alter Everything, Including Your Organization’s Culture of Analytics.” Detroit Marriott Troy. $189. Contact: Erin Adair-Guy, phone: (800) 257-1490; email: eguy@ witinc.com; website: witinc.com/ great-lakes-data-summit Global Health Care for The Next Decade. 11:30 a.m.-1:30 p.m. March 24. Detroit Economic Club. Tom Mihaljevic, CEO and president, Cleveland Clinic, discusses Mihaljevic trends in health care and the economy, including consolidation, growth and digitalization. The Masonic. $45 members, $55 guests of members. Website: econclub.org Leadership Oakland Breakfast of Champions — Priscilla Archangel. 7:30-9 a.m. March 31. Leadership Oakland. Priscilla Archangel, Ph.D., will discuss “Managing Professional Risks: Priorities and Decisions.” MSU Management Education Center, Troy. $45 members; $65 nonmembers. Contact: Susan Hollady, phone: (248) 495-4781; email: shollady@ leadershipoakland.com; website: leadershipoakland.com
DEALS&DETAILS CONTRACTS
C O N TA C T
Jim Moore has been promoted to the new position of Senior Vice President. This expanded role reflects his involvement in driving the company’s strategic direction. “Jim Moore is a fantastic leader for National Food Group,” stated Sean Zecman, company President. “He is a mentor to other leaders and team members in the company. This promotion allows us to continue to develop the infrastructure supporting our current growth as well as our roadmap of amazing things to come.”
TUESDAY, FEB. 18
Near Perfect Media, Bloomfield Hills, a public relations firm, has been named the agency of record for Easterseals Michigan, Auburn Hills, an organization serving people with disabilities and special needs; Lockton Companies Michigan, Birmingham, an insurance brokerage; Michigan Orthopaedic Surgeons, Southfield, a surgical practice; and Riverbank Theatre, Marine City, a performing arts the-
ater. Websites: nearperfectmedia. com, easterseals.com/michigan, lockton.com/offices/detroit, miorthosurgeons.com, riverbanktheatre.com Manquen Vance, Troy, a health care benefits consultant, was awarded a multi-year contract by the city of Lansing for the design and implementation of health benefits for the city’s more than 1,000 municipal employees and retirees. Website: ManquenVance.com
HEALTH CARE Advertising Section
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Receivership sale of assets Visiting Physicians Business Residential Physicians Transportation Dispatch Services (TDS) Association, PLLC & RPA ManDelight For your Clients the Best of Michigan 2,280 Acres Salewith(1) Response Due February 2 , 2020 , Issued: February 6, 2020 agement, Inc. includes account Handmade Nut, Baked Goods & (2) Corporate Auditing Services (CAS) receivables, 7 vehicles, outstandDOUBLE EAGLE RANCH Chocolate Gift Trays. Response Due: March 13, 2020, ue February 14, 2020 ing insurance, Medicare and MedNorth Central FREEMichigan Holiday cards w/your logo & message DESC, a non-profit corporation, A Michigan Works! Agency, cooperationoffice with the Mayor’s Workforce icaidin claims, equipment, ofDevelopment Board (MWDB) serves as the fiscal and administrative entity thatmedical provides public workforce TheDoubleEagleRanch.com fice furniture, supplies, Guaranteed Christmas Delivery! development programs and services for the city of Detroit to employers and job seekers. and intellectual property. Call Kyle: 248-444-6262 NibblesGifts.com 248-737-8088 DESC is seeking proposals from qualified applicants to provide ft transportation dispatc services for Detroit at Contact Sonya Goll at (248) ork customers in t e artners ip ccounta ilit raining ope and ot er programs. 354-7906 ext. 2234 or sgoll@ Visit our store at 32550 Northwestern Farmington DESC Hwy, is seeking proposals from Hills qualified individuals and or firms to provide as needed Corporate uditing for additional inforsbplclaw.com ARE S S RA E Services for t e Detroit Emplo ment Solutions Corporation DESC and t e D . mation, form purchase agreeMore information on these opportunities are available at the following website: ment, financials of business, and Executive Director, Audience Development https://www.descmiworks.com/opportunities/rfps-and-rfqs/ deadlines for offers. 2,280 ACRES
Spectrum Health is handling more flu cases virtually, including through its own app, offering 24/7 access.
Spectrum Health uses telehealth to treat patients with the flu BY MARIA CASTELLUCCI MODERN HEALTHCARE
The flu in most circumstances is a good candidate for virtual care. Patients don’t want to leave home beMichigan, like nearly every state, is cause of the symptoms associated in the midst of one of the worst flu with the illness, and it keeps them from coughing and touching chairs or seasons in recent memory. The spike in patient visits has taxed magazines in waiting rooms. “There’s health care organizations. But for no risk of them spreading their disSpectrum Health, a 14-hospital sys- ease or catching someone else’s” with tem based in Grand Rapids, telemedi- a virtual visit, Suing said. The use of Spectrum Health Now cine has greatly reduced the strain on patients, staff and the organization virtual care for the flu is on the rise this year — 4,481 flu-related visits as of overall. About 50 percent of Spectrum’s 100 Jan. 23, an increase of 34 percent over average daily virtual visits are related the prior-year period. The rise in virtual visits is likely due to flu symptoms, said Elizabeth Suing, a physician assistant who treats pa- in part to patients’ increased comfort tients using telehealth platform Spec- with telehealth along with Spectrum’s robust marketing efforts, said Keith trum Health Now. The use of telehealth to treat the flu Hustak, the system’s vice president of allows emergency departments and app services and operations. Physicians and nurses encourage physician offices to spend more time and resources on patients who appro- patients who present to their practice priately require services because few- or the ED to consider using the teleer patients are coming in with moder- health service if low-acuity illnesses ate cases. That saves money for the come up including the flu, pink eye or rashes. The marsystem and paketing departtients. ment has also put “We have fewer “WE HAVE FEWER patients going to PATIENTS GOING TO THE ED up signage and pamphlets in the ED or urgent physician praccare and it’s OR URGENT CARE AND IT’S opened up access OPENED UP ACCESS IN OUR tices advertising the service. Social in our primamedia camry-care offices PRIMARY-CARE OFFICES paigns targeted at where they can WHERE THEY CAN SEE millennials and see more patients mothers have for” chronic dis- MORE PATIENTS FOR” been used as ease manageCHRONIC DISEASE well. ment), Suing Insurers like said. MANAGEMENT). the Michigan As of Jan. 23, — Elizabeth Suing, physician assistant Blues and PrioriSpectrum estity Health typicalmated that using telehealth saved patients and payers ly cover virtual visits. If patients pay $657,359. Savings for patients ac- out of pocket it costs $45 at most. Hustak said Spectrum largely domcounted for $247,000 of that based on average out-of-pocket costs of ED, ur- inates the telehealth space in Michigent-care and office visits. And there’s gan although it still faces competition some evidence the patients who used from national companies like MDLive. Flu treatment has been offered by virtual services would’ve sought care somewhere else in the system. Ac- MDLive since its inception in 2009. cording to a survey of patients who CEO Rich Berner said most health had flu-like symptoms and used a vir- systems are relying on third-party tual visit between October 2019 and platforms like MDLive because they mid-January, 2.6 percent said they can take advantage of its technology would’ve gone to the ED instead, 36.5 infrastructure and expertise. Spectrum plans to expand its telepercent would’ve gone to their primary-care office, 42.7 percent would’ve health offerings with a goal that 50 used urgent care and 7.3 percent percent of its primary-care visits will be done virtually. would not have sought care.
& Analytics
Requests for Proposals are being accepted forof
To request a full RFP package, please email DESC at procure ent dete pso org Qualified applicants must submit the following information via email: Company Name, Address, Office Phone Number, Contact person’s name, Title, and Valid Email Address.
As a forward-thinking and transformational Audience Development ai Su ect ine shou d inc ude e uest or TDS Executive, you will lead the strategy, development, and execution of Mayor’s Workforce Development Board audience plans via effective marketing practices with the goal ofCo-Chairperson achieving Cynthia J. Pasky, David E. Meador, Co-Chairperson revenue growth across six of Crain Communications’ core brands: Automotive News, Crain’s Business Publications, Modern Healthcare, Ad Age, Pensions & Investments, Polymer Group. By leveraging your focused ROI mindset and your experience as a modern, multi-channel marketer you’ll decide how best to engage audience members during their customer journeys, and how best to allocate resources. Position could be based in Detroit, Chicago, or New York City. Visit crain.com/careers/ for more information and available positions.
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FEBRUARY 17, 2020 | CRAIN’S DETROIT BUSINESS | 17
TAUBMAN
From Page 3
The new Taubman board is expected to have three designees of Simon Property Group and three of Taubman. The deal is expected to close in the middle of the year and needs two-thirds approval of the outstanding voting stock of Taubman and a majority of the outstanding voting stock of Taubman not held by the Taubman family, according to an investor presentation. Taubman owns, manages and/or leases 26 super-regional shopping centers in the U.S. and Asia, consisting of about 25 million square feet of gross leasable area, including Twelve Oaks Mall in Novi and Great Lakes Crossing Outlets in Auburn Hills. Taubman’s footprint is smaller than it used to be. It sold Fairlane Town Center in Dearborn and The Mall at Partridge Creek in Clinton Township plus five other malls for $1.4 billion to Starwood Capital Group in 2014. The deal is a 51 percent premium to where Taubman shares closed on Feb. 7 at $34.67 per share. Shares soared 52 percent early Monday after it resumed trading following a stop for the announcement. Simon shares were up less than 1 percent trading Monday morning; they are down 24 percent over the past 12 months. Matthew Mason, managing director of Conway MacKenzie Inc.’s Real Estate Advisory Practice in Birmingham, said he has worked with Simon Property Group and Taubman in the past. He said the deal
makes sense for both companies given the consolidation in the mall industry in recent years, like when Brookfield Property Partners paid $9.25 billion for General Growth Properties two years ago. “I think it’s a logical move for both parties,” Mason said. “Brookfield, it’s become a very large operator now, and Simon obviously is very large as well. It’s become more difficult for operators below them. Taubman doesn’t have the scale of Brookfield now, or Simon, and it gets more difficult to compete.” David Simon, chairman, CEO and president of Simon Property Group, said in a conference call that the joint venture would be “very much run like a partnership” with Taubman. “By joining together, we will enhance the ability of (Taubman) to invest in innovative retail environments that create exciting shopping and entertainment experiences for consumers, immersive opportunities for retailers and substantial job prospects for local communities,” Simon said in the release. Activist investor Jonathan Litt has been peppering Taubman the past few years with various criticisms, including lack of diversity on the board, financial underperformance in the past several years as the company navigates an ever-shifting and challenging mall and retail climate, and flawed capital expenditures in Asian markets and in Puerto Rico. Simon and Taubman have tangled in the past, especially during a yearlong hostile takeover bid by Simon and Westfield America Inc. that ended in October 2003, a day after Gov. Jennifer Granholm signed leg-
“BY JOINING TOGETHER, WE WILL ENHANCE THE ABILITY OF (TAUBMAN) TO INVEST IN INNOVATIVE RETAIL ENVIRONMENTS THAT CREATE EXCITING SHOPPING AND ENTERTAINMENT EXPERIENCES FOR CONSUMERS, IMMERSIVE OPPORTUNITIES FOR RETAILERS AND SUBSTANTIAL JOB PROSPECTS FOR LOCAL COMMUNITIES.” — David Simon, chairman, CEO and president of Simon Property Group
HR TECH
NEW DETROIT
From Page 3
From Page 3
That, coupled with the density of manufacturers in Michigan and the broader Great Lakes region, leads to “tremendous potential” for the company, Theiss believes. “The firsthand experience of what this region is going through in terms of the industries and the amount of people it employs in manufacturing, I think there’s a real connection with what the challenges are for this industry,” Theiss said. “Everyone is hyper-aware of the cycles we’ve gone through, the challenge there is to attract people to the industry.” Salazar Yanez said the company plans to do about $1.5 million in sales this year and has a sales pipeline to grow that substantially in the coming years. The sales pitch to fuel that growth? To make businesses and employees forget that they’re using a piece of enterprise software for their training purposes. “The most important thing is the element of training for people,” said Salazar Yanez. “Everything comes like Instagram, like Facebook, like YouTube.” Similarly, Workforce Software last month rolled out a new product called Workforce Suite that’s being marketed using nearly identical language. The workforce enterprise software is geared toward helping employees and employers better manage time and attendance, scheduling, absence management and other “intimate interactions,” that are part of a boss and worker relationship, according to Joe Ross, the company’s vice president of global product management. The 20-year-old company with annual revenue north of $100 million
At DEGC, meeting with small businesses, “what I was hearing loud and clear, and I wasn’t expecting to hear it, was about culture,” he said. “The city is going through a change, and I think people are experiencing it culturally ... everyone from businesses in town to businesses in the neighborhoods, black and white.” The tensions that are starting to pop up “could be kindling for another conflict,” Rafferty said. And economic development won’t work if you don’t have the right culture to contain it. “You need wealth to support new businesses, but also the will from people to be customers,” he said. “Culture ... is key to real development.”
Workforce Suite | WORKFORCE SOFTWARE
Salazar Yanez
Theiss
markets itself toward companies operating in industries with unique pay rules, often with unionized workforces. Company executives point to one such client that employs unionized ambulance drivers who get triple pay, but only on nights with full moons, as part of their contract. Like Andonix, Workforce Software executives say their product is designed to look more like consumer-facing social media apps than clunky software. Ross said employees need to navigate everything from their vacation
18 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
time, determining whether they qualify for medical leave to getting time for military service. “Those are intimate interactions between an employee and an employer. Those are some of the most meaningful interactions an employee has with their employer in their work life,” Ross said. “What we’re delivering is recognizing that those are intimate interactions and that people in the workforce have consumer sensibilities and they expect those interactions to be beautiful.” Harris said the increasing presence of workforce software companies in Southeast Michigan is likely just a reflection of the increasing dominance that technology plays in our culture. “I think employees are really demanding that they have a self-serve portal,” Harris said. “They don’t want to have to actually go to a person for what we call ‘a task.’ They want to be able to do that at their convenience.”
Need still there Deploying against a strategic plan launched in 2018, New Detroit is working to achieve racial equity in income, quality education and safety, areas where inequities still exist — nearly 53 years after the 1967 uprising in Detroit and its launch to address the inequities. Early on, New Detroit focused on leveling the playing field for blacks and other minorities in areas like housing, education and employment practices, one by one. It funded community development groups like the Detroit Economic Growth Corp. and Wayne County Community College District. It advocated for school decentralization in Detroit and pushed for local hos-
pitals to put African American and Hispanic people on their boards. In recent years, New Detroit had shifted to operating more programs, Tronstein Stewart focusing on race relations, through “safe,” facilitated conversations among peer groups and an annual youth summit for high schoolers from around the region. It’s episodically published the Metropolitan Detroit Race Equity Report, most recently in 2014, to identify measurable disparities among different racial and ethnic groups in the region in educational achievement, per capita income, home ownership and other areas. But it also moved into programs such as providing capacity building services to small, minority-owned Detroit businesses. Its 50th anniversary three years ago prompted New Detroit to review its work and where the region is in terms of racial equities, said Rachel Tronstein Stewart, president of Gardner-White Furniture and chair of the nonprofit’s board. “We’ve made progress, but there’s such a big hill to climb. And the world has changed,” she said. “It was a time to recalibrate to ensure ... (New Detroit’s) viability, but more importantly, to build an organization that would have the maximum impact in improving racial equity in the region.” Rafferty, who joined the nonprofit late last May after longtime CEO Shirley Stancato retired, came on just as New Detroit was shifting
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its work to align with a new strategic plan that calls for it to return to its role as a thought leader and to a policy focus, while also being a catalyst for collective impact. It’s seeking to address inequities in the region by improving interpersonal behavior and addressing structural racism in more tangible, measurable ways, as it did in its early days. “We’re investing more in activities that change systems and less in direct service programming than we have in the recent past,” Rafferty said. And though New Detroit has always played a convener role, it plans to ramp up those efforts, he said. “We’ve always known that moving toward anti-racism requires bringing people together.” “You’re not going to hear people say, ‘what are they doing?’ anymore,” Rafferty said. “Quite simply, I’m declaring war on racism.”
New path To clearly identify racial inequities, New Detroit is seeking to become the clearinghouse for data on racial equity for this region. “The more information we gather and collect, the easier it’s going to be for us to go to policy makers and say here are the explicit calls for action,” Rafferty said. “For us to be really effective advocates, we need to come armed with a lot of information that guides conversations as we engage with populations.” The nonprofit plans to begin publishing the Metropolitan Detroit Race Equity Report annually, Rafferty said. It’s teaming up with organizations like Detroit Future City and the city
“NEW DETROIT’S COMMITMENT TO RACIAL EQUITY AND CIVIL RIGHTS WILL MAKE A GREAT PARTNER IN INSURING EVERY ASPECT OF DATA AND INFORMATION WILL BE ACCESSIBLE AND COMPREHENSIVE.” — Anika Goss, DFC executive director
of Detroit Civil Rights and Inclusion Office to collect and analyze data about what current conditions point to racism “and what actions are necessary from captains of industry, policymakers or residents...to change those things,” he said. The partnership with DFC is still developing but could lead to expanded research led by DFC to address racial equity measures it’s not already researching, Tronstein Stewart said. “If DFC is already doing it, godspeed, we’ll encourage them and get out of the way,” she said, to avoid any duplication of efforts. The two could jointly release findings, Tronstein Stewart said. And New Detroit could bring different thought leadership to bear through partnerships with local universities. “Our role is ... to shine a light on the data,” Tronstein Stewart said. Detroit Future City last month launched its Center for Equity, Engagement and Research to ramp up its research on economic growth in Detroit and the impact of that on residents. Through the new partnership, New
Detroit will be able to use that same data and focus on racial disparities, specifically, said DFC Executive Director Anika Goss. “New Detroit’s commitment to racial equity and civil rights will make a great partner in insuring every aspect of data and information will be accessible and comprehensive,” she said. At the national level, New Detroit is forging partnerships with organizations like California-based Race Forward, which is focused on systemic racism, and looking at national best practices to replicate regionally, Rafferty said. And it’s looking to social media as one way to “touch the hearts and minds” of all 4.7 million people in the region, Rafferty said, as it works to scale the number of people it reaches. To be a force in racial justice, New Detroit needs to be financially sustainable. It had operated at a loss in recent years, tapping reserves to cover costs after corporate and philanthropic support nosedived following the recession that began in 2008. Its revenue — which at one point in its history hit $6 million, Rafferty said — was just $1.18 million last year, following declines in corporate and philanthropic support that began after the recession. After joining New Detroit last year, Rafferty immediately began cutting costs. He combined operational responsibilities and eliminated a human resources director position. He moved New Detroit’s offices and five employees from the 6,000 square feet it had long occupied in Detroit’s Buhl Building to 2,000 square feet in the New Center One building. The cost-cutting moves halved
islation that made it more difficult to acquire Michigan-based companies through hostile takeovers. Founded in 1950 by A. Alfred Taubman, who Robert Taubman died in 2015 at age 91, Taubman Centers has held an illustrious place as a pioneer of shopping mall development. The company developed Lakeside Mall in Sterling Heights, its first enclosed Michigan mall, in 1976. Simon Property Group owns Briarwood Mall in Ann Arbor and Birch Run Premium Outlets in Birch Run. “Since Taubman Centers’ founding 70 years ago, we have built a portfolio of high-quality assets and continuously adapted to the evolving retail landscape,” Robert Taubman, chairman, president and CEO of Taubman Centers, said in a news release. “I am proud of all that this company’s talented employees have achieved and am thrilled to have the opportunity to join together with Simon through this joint venture. Over the last few years, David and I have developed an excellent personal relationship and importantly, Simon shares our commitment to serving retailers, shoppers and the communities in which we operate. The Board and I are confident that Simon is the ideal partner to help us build on our progress.” Mason doesn’t anticipate much change for the average Twelve Oaks Mall or Great Lakes Crossing shopper with the pending transaction. “I don’t think you’re going to see
much of much impact there to the average shopper,” Mason said. “Those are both very, very strong malls that do very well.” Ronald Goldstone, a retail expert who is executive vice president for Southfield-based Farbman Group, said Simon Property Group’s new presence in Novi and Auburn Hills should help it create economies of scale. “I see an opportunity for where a single company can use their relationship and leverage with retailers to try to do more deals and more transactions in more markets simultaneously,” he said. “I think it gives them a level of clout in negotiating ability with retailers.” Most mall operators are under increasing pressure as shopping habits change, with more dollars being sent online or strip malls. Falling foot traffic has contributed to numerous retail bankruptcies and a record 9,300 store closings, according to consulting firm Coresight Research. Closings include multiple Macy’s, Sears, Forever 21, Nordstrom and Lord & Taylor locations. Since 2015, only nine malls have been built in the U.S., a dramatic fall from their peak construction in 1973 of 43, according to CoStar Group. “This type of activity probably isn’t a surprise. It’s capitalism at its purest, where smart people are continuing to be smart in changing with the changing times to remain profitable and efficient,” Goldstone said. — Bloomberg News and The Associated Press contributed to this report.
New Detroit’s expenses to $749,531 in 2019, Rafferty said, from just under $1.5 million in 2018. On the revenue side, he began writing grant proposals to offset declines in corporate and philanthropic support following the recession and was able to attract $500,000 in grants from Skillman Foundation, Hudson-Webber Foundation and the Community Foundation of Southeast Michigan. He and his team are also working to increase earned revenue by expanding its fee-based cultural competency training with local companies, community development organizations and other institutions like law enforcement and government agencies. “Everyone is preaching diversity in the workplace with good reason: it promotes better products and higher profits,” Rafferty said. “But employees all the way up to the C-suite don’t always have the interpersonal skills to interact and recognize strengths across (cultures).” He projects earned revenue from New Detroit’s fee-based cultural competency training and “tools” like how to de-escalate situations when needed, will triple this year to $300,000, as it takes it to more companies, large and small, especially in the retail and hospitality industries. Among the companies working with New Detroit is Quicken Loans. Employees of both Quicken and the Rock family of companies are interested in Detroit’s history and invested in the city’s future, said Trina Scott, chief diversity officer of Quicken Loans, in an emailed statement. “There is no one better to partner with than a group that has been laser-focused on that topic for 50+ years.”
New Detroit is operating on a $1.04 million budget for 2020. Grants will account for just under half or 43 percent of revenue. Corporate support is up slightly this year, accounting for 18 percent of New Detroit’s budget. And the remaining 39 percent of its revenue is coming from revenue and fundraising, according to data provided by New Detroit. Foundations and corporations are coming back, Tronstein Stewart said. “I think they see an ongoing need for New Detroit and its new direction.” New Detroit’s current approaches are taking it back to what it was fundamentally formed to do, namely raising the region’s understanding of racial inequities and tensions and how we can address them, said Nancy Moody, chair of the DTE Energy Foundation and vice president of Public Affairs for DTE Energy Co. It comes back to looking at education, workforce development and economic development through an equity lens, things DTE is focused on in itself as part of its “force for growth” efforts in communities, she said. If you look at racial equity in income, housing, education, health and other areas now vs. where the region was in ‘67, “I hate saying this, but you don’t see a lot of difference in the statistics,” Moody said. “There’s still a lot of work to do.” The uniqueness New Detroit brings to the work is its ability to bring business, philanthropic and government leadership to the same table, Moody said. “We appreciate their return to ... working on the issues of diversity, equity and inclusion.”
Contact: kpinho@crain.com; (313) 446-0412; @kirkpinhoCDB
Contact: swelch@crain.com; (313) 446-1694; @SherriWelch
FEBRUARY 17, 2020 | CRAIN’S DETROIT BUSINESS | 19
THE DAN GILBERT INTERVIEW
Building Hudson’s tower is Gilbert’s ‘No. 1 priority’ after recovery
“The hardest working people in the world are these nurses and nurse assistants. I have no idea what they get paid, but I’m certain they’re underpaid. … They’re just incredible people. I mean, none of us would do for 20 minutes what they do nine hours a day every day of the week.”
BY CHAD LIVENGOOD
N
early nine months after a brush with death, billionaire businessman Dan Gilbert is back to work with one main mission: Construct Detroit’s first 21st Century skyscraper at the site of a once-iconic 20th Century downtown landmark. In the first interview he has granted since suffering a stroke in late May, Gilbert told Crain’s that constructing a tower at the former J.L. Hudson’s Department store site is his “No. 1 priority.” The Hudson’s project is followed closely by building a satellite campus for the University of Michigan at the former Gratiot Avenue jail site in partnership with New York real estate mogul Stephen Ross. Three years ago, the Quicken Loans chairman set out to construct a building taller than the 727-foot-tall Detroit Marriott at the Renaissance Center. At one point, Gilbert’s Bedrock LLC said the tower could soar to as tall as 919 feet. But the project has since been scaled back as Bedrock has searched for an anchor tenant and hotel partner to occupy some portion of a planned residential tower. Gilbert downplayed the significance of the project’s final height. “Programming will drive it,” Gilbert told Crain’s. “Size is just a reflection of programming. We’re certainly in no race to say that no matter what happens, we have the tallest building in Detroit. I don’t know if that’s relevant.” Bedrock CEO Matt Cullen disclosed last month that Gilbert’s real estate company was no longer focused on building the tallest tower in Detroit’s skyline, but rather a structure that has “a lot of characteristics relative to retail and public space and a world-class hospitality component.” “There’s three or four plans that are still out there that they’re working every day,” Gilbert said. Cullen said the height of the tower and hotel partner should be finalized by June. “It’s happening all right now, and it’s probably my No. 1 priority,” Gilbert said. “It’s not the height of Hudson’s, but that Hudson’s gets done the right way.” Inside Gilbert’s family of companies, the Hudson’s tower has become an all-hands-on-deck project following a shakeup of Bedrock’s top management ranks that began unspooling publicly after Gilbert suffered a stroke on May 26 that caused temporary paralysis on the left side of his body. In early June, Bedrock executive Dan Mullen exited the company, followed by his boss, Jim Ketai, who co-founded Bedrock with Gilbert. Ketai left the company in August. Gilbert, before the stroke had installed his company’s vice chairman, Bill Emerson, as CEO of Bedrock, diminishing Ketai’s role. Cullen, a longtime Gilbert deputy, was named CEO of Bedrock on Sept. 1 as Emerson moved back to his duties as vice chairman of Quicken Loans and Rock Holdings, the parent company of Gilbert’s business empire. In January, Bedrock hired veteran Detroit real estate attorney Lawrence McLaughlin to be the company’s first chief development officer. While this shake-up was taking place, Quicken Loans CEO Jay Farner became more involved in the real estate end of Gilbert’s business interests in Detroit, according to Gilbert. “He’s been touching everything,” Gilbert said of Farner, the longtime TV and radio pitchman for Quicken Loans and its Rocket Mortgage product. Farner, who has worked for Quicken Loans for 24 years, sat in on Gilbert’s interview with Crain’s on Wednesday inside the chairman’s office at One Campus Martius. He said company leaders have been carrying out Gilbert’s vision for the Hudson’s site, which had been a below-ground parking garage after the iconic department store was imploded in October 1998. “Dan always talks about five years out, 10 years out, what’s the most important thing for the city, and then let’s get the programming in that tower and that will help dictate” height, Farner said. Contact: clivengood@crain.com; (313) 446-1654; @ChadLivengood
“When you have a stroke, here’s the problem with it: Everything is hard. Everything. Like you wake up, getting out of bed is hard, going to the bathroom is hard, sitting down eating at a table is hard. You name it. You don’t get a break. You’re like trapped in your own body.” “I’m doing a lot better one day at a time.”
GILBERT
From Page 1
“I told them I’m not going anywhere, but they insisted I go to Beaumont,” Gilbert said. In the middle of the night, Gilbert’s driver drove him from downtown Detroit to Beaumont Health’s Royal Oak hospital, he said. “So they basically saved my life — this guy and my wife — because if I didn’t go, it would have been a problem,” Gilbert said in an exclusive interview with Crain’s. Last week, Gilbert granted Crain’s the first interview he’s given since suffering an ischemic stroke in the right side of his brain over the Memorial Day weekend that caused temporary paralysis of his left arm and leg. Gilbert plans to make his first public speech since the stroke Friday at the Crain’s Newsmakers of the Year luncheon at MGM Grand Detroit casino, where he’ll be honored with the first Newsmaker Hall of Fame award for his frequent appearances on the list of top Newsmakers in Crain’s 35-year history. In 2019, Gilbert’s real estate company was making
LEFT: QUICKEN LOANS IMAGE; RIGHT: ILLUSTRATION BY PETER STRAIN FOR CRAIN’S DETROIT BUSINESS
20 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
new development announcements and Quicken Loans was continuing to dominate home mortgages. But much of that was overshadowed by his stroke in late May and the months of relative silence from Gilbert’s inner circle about his physical condition. Nearly nine months later, Gilbert is focused on regaining physical strength and motor skills that were lost by what he says was a blood clot in his carotid artery that cut off oxygen-rich blood to his brain. For a man who owns a professional basketball team, the stroke was both a near-death and humbling experience. “If that artery was blocked more minutes than it was, it would have been much worse,” said Gilbert, who turned 58 last month. The stroke has upended the life of a fast-charging businessman who, over the past decade, had become a transformational figure in Detroit and influential power broker in Michigan. “When you have a stroke, here’s the problem with it: Everything is hard. Everything,” Gilbert said. “Like you wake up, getting out of bed is hard, going to the bathroom is hard, sitting down eating at a table is hard. You name it. You don’t get a break. You’re like trapped in your own body.”
“Stroke is sort of a mystery — what is it, when does it end, how do you get done with it? It’s sort of different.”
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THE DAN GILBERT INTERVIEW “There’s this acronym that the stroke and heart society try to get people to remember. It’s FAST. F is face drooping. A is for their arms, tell people to put their arms out and see if they’re shaking. S is speech. How’s a person’s speech? Is he slurring his words? And T is time, which means get your ass to the hospital.”
he said. “But not always.” Those are minor setbacks, considering Gilbert was immobile “dead weight” the day after the stroke, he said. As for recovery, he said, “the (left) leg is almost there,” Gilbert said. “I can walk with a cane and all that. It just takes a little longer in the arm.” And “it could always be worse,” he added. “(Like) people who get a stroke that takes out their whole body.”
‘Underpaid’ nurses Gilbert has rarely been seen in public since spending eight weeks last summer at Shirley Ryan AbilityLab in Chicago, a $550 million state-of-the-art rehabilitation facility just a few blocks from Navy Pier and Lake Michigan. Formerly known as the Rehabilitation Institute of Chicago, U.S. News and World Report rates the Shirley Ryan AbilityLab as the top rehabilitation center. “It was a great place,” Gilbert said. “In fact, we need something like that here in Detroit. It’s one of the things we’ll be working Newsmaker on.” coverage The experience and level of care at Shirley Ryan AbilityLab taught a fin- Check tech mogul who pays Cleveland Cava- CrainsDetroit.com liers basketball players millions of dol- for full coverage lars a few things about talent in the of the sold-out Crain’s Newsmaker health care industry. “First of all, the hardest-working of the Year people in the world are these nurses luncheon on and nurse assistants,” Gilbert said. “I Feb. 21, featuring have no idea what they get paid, but Stephen Ross and I’m certain they’re underpaid — be- Dan Gilbert. The event will be cause you can’t pay them enough. “I mean, none of us would do for 20 livestreamed at minutes what they do nine hours a CrainsDetroit.com day every day of the week,” he added. Gilbert said he doesn’t know how he could bring a similar facility to Detroit, but it’s on his mind. “They’re just thoughts right now,” he said. Forbes values Gilbert’s fortune at $7 billion. It’s not lost on one of Michigan’s wealthiest men that he’s got access to better therapists than most people do. He spends three to four hours daily working with occupational and physical therapists inside his Franklin home. “I start thinking about, imagine people who just don’t have any of these resources. What do they do?” Gilbert asked. “I mean, insurance does not usually cover most of the … rehab from a stroke. Maybe some of it, but not most of it.”
“I have the fortunate situation of having resources. I start thinking about, imagine people who just don’t have any of these resources? What do they do? I mean, insurance does not usually cover most of the … rehab from a stroke. Maybe some of it, but not most of it.” On the Hudson’s tower no longer being taller than the RenCen:
“Yeah, I don’t know if that decision is totally final. I know there’s three or four plans that are still out there that they’re working every day.” “It’s not the height of Hudson’s, but that Hudson’s gets done the right way.”
Gracious Gilbert
The change in Gilbert’s life was as sudden as it gets. Just a day before his stroke, Gilbert’s political influence at the state Capitol reached a crescendo when his lobbyists finished engineering the Legislature’s passage of a major overhaul of Michigan’s auto insurance law. Hours before gathering with friends on his rooftop patio, Gilbert sent Gov. Gretchen Whitmer text messages pledging to help her get a long-term road-funding deal with the Legislature, according to aides to the governor and businessman. The ensuing hours were a life-changing experience that Gilbert says he’s “very lucky” to have survived.
‘Could be worse’ During the May 25 gathering at Gilbert’s apartment, Adamczyk said he recognized Gilbert having “intermittent symptoms” associated with stroke: Facial asymmetry, arm drift and speech difficulty. He advised Gilbert that he should go to Beaumont. Adamczyk said he rode with Gilbert to the hospital, arriving just before midnight. Gilbert said a Beaumont doctor implanted seven stents inside his carotid artery to open the blood vessel.
His company has previously said Gilbert suffered a stroke at Beaumont’s Royal Oak hospital on Sunday, May 26, that prompted an emergency catheter procedure, which is how cardiovascular surgeons implant tiny mental stents inside arteries to restore blood flow. The health scare has left Gilbert physically thinner, though he’s sporting a thicker, white beard. His speech is clear, if quiet. Gilbert uses a wheelchair to get around the mortgage company’s One Campus Martius headquarters, alongside a black Lab service dog named Cowboy. “Cowboy, place,” Gilbert said at the start of the interview, instructing the dog to lie on a special blanket on the floor of his office overlooking Campus Martius. “Go to your place and hang out.” During the interview, Gilbert attempted to move his left arm, which rests in a sling, as he sat in the wheelchair at a small conference table. “There’s exercises that we’re doing where I can move it from here and up to here and there’s a ball there,” Gilbert said as he used his dominant right hand to move his left arm around the table. “I can grab a ball and drop it into a box sometimes,”
Since being hospitalized, Gilbert said he’s remained in contact with the CEOs of his various companies, particularly Quicken Loans CEO Jay Farner. Gilbert’s lieutenants have gone about executing major business decisions in his absence, such as a partnership with New York real estate developer Stephen Ross on an innovation center for UM graduate students. Quicken Loans also settled a lawsuit for $32.5 million with the U.S. Department of Justice over the company’s past mortgage business practices, a lawsuit Gilbert had previously said he’d never settle. “It demonstrates the importance of a culture,” Farner told Crain’s. “Because if you’re rudderless, then you can be in trouble.” After the New Year, Gilbert started coming into the office one or two days a week, particularly re-engaging on the construction of a skyscraper at the former Hudson’s department store site on Woodward Avenue, Farner said. Gilbert praised Farner’s leadership in his absence — and then paused. “You know, we’ve got great people everywhere,” he said. “If this teaches you anything, it teaches you gratitude, right?”
Every minute counts For a man with many titles, Dan Gilbert now carries the title of stroke survivor. During the interview, he rattled off the American Stroke Association’s four-letter acronym for spotting signs of a stroke: F.A.S.T. F stands for face drooping. A is for arm weakness or numbness. S stands for slurred speech. “And T is time, which means get your ass to the hospital,” Gilbert said. “It’s really about minutes.” Contact: clivengood@crain.com; (313) 446-1654; @ChadLivengood
FEBRUARY 17, 2020 | CRAIN’S DETROIT BUSINESS | 21
THE CONVERSATION
Sandra Hughes O’Brien on WSU board, running for re-election WAYNE STATE UNIVERSITY BOARD OF GOVERNORS: Sandra Hughes O’Brien, an attorney who now is deputy county clerk and register of deeds in Oakland County, is one of four board members who have been highly critical of WSU President M. Roy Wilson, M.D. With parents of Mexican and Irish ancestry, she was the first Latina woman elected to a statewide office in 2012 when she joined the eight-member WSU board. Born in Saugatuck and raised in Southwest Michigan, Hughes O’Brien lives in Northville with her husband, Barrie, and their three children, Faelan, Fiona and Rory, along with Roxie the dog. | BY JAY GREENE `Crain’s Detroit Business: Tell me something about yourself and maybe something people don’t know Hughes O’Brien: I have a couple of freakish talents. I can type 120 words per minute. I also know shorthand and back in the day I used to be able to write shorthand 90 words a minute. I was a legal secretary going through college. `What do you like to do in your spare time? I have no spare time. After law school I married my husband and we started our family. I spend the majority of my time when I’m not working and not at the university tending to my three kids and their sports. One day I won’t have it and I’ll probably be bummed out, so I just take it all in stride. `Do you have hobbies that are on hold for now? My husband and I love to travel. We used to do a lot more. That’ll be something to look forward to when the kids get older. A goal of ours is to take our children to Ireland and show them where we were married. `You are now deputy county clerk, but you practiced law for 17 years. I worked in the trust and estates area. I absolutely loved it. It’s the only practice area where people come to you and want your services because it’s their decision to come. In 2016 I was asked to become the general counsel at the Public Lighting Authority. I did that for two years. For the last 3 1/2 years, I have served as the deputy county clerk and register of deeds in Oakland County. `You were first elected to the Wayne State board in 2012. How did that come about? There were some community members from the Latinx community, friends of mine. We would meet and discuss politics. We decided we could make an impact by running a candidate. We decided it would be the WSU board. (One day) I got a call from one of them and she said, “Sandy, we
found somebody.” She said, “It’s you.”
happen with the Detroit Medical Center.
`You plan to seek re-election this November. What is your platform for the next eight years? Appropriations are still an issue. We were and still are to this day at an $11 million shortfall on an annual basis from Gov. Rick Snyder. Demanding transparency and accountability from our administration is still one of our top priorities along with ensuring the fiscal health of the university. I am also not pleased with the minority enrollment at the law school. I’d like to see the college of education have a more meaningful relationship with the Detroit public school system. One of the sins of the administration is that we have not made any meaningful overtures to DPS.
`Will DMC’s owner, for-profit Tenet Healthcare Corp., sell Wayne State’s current primary teaching hospital? For the near future we will remain
Sandra Hughes O’Brien
connected. I will admit that Tenet has not been a very good partner to us, mostly because of their disinvestment in all three areas of our partnership: research, education and clinical. And that’s due to their cost-cutting measures. Therein lies the difficulty of a forced relationship with a for-profit health care system. We need to wait on what they do and talk a little bit with Dr. Schweitzer and how he will proceed. My thought is if DMC starts selling parts, that won’t preclude us from working with any of those individual hospitals — but we need to have a plan. `What are your goals for 2020? I have five things I’d like to do or begin this year. One is create a more meaningful and collaborative relationship with DPS. Two, I’d like Wayne State to join a growing number of institutions that have moved to a more flexible testing policy or test optional policy for admissions. Three, we should replicate learning communities that are already working on campus and extend them universitywide to help increase retention and graduation. Our athletes have a learning community and they graduate at 78 percent (compared with the university average of 46 percent). Four, we create a big vision to ensure the medical school’s future. Maybe similar to the University of Michigan model. Five, research the possibility about moving to Division 1 conference for athletics.
`Some say the board is dysfunctional because four members want Wilson to resign or be fired and the other four want him to stay. What is going on? Not everything is doom and gloom. If you read the paper last year you would get the impression that the board is dysfunctional. The board is not dysfunctional. It is functioning exactly how the constitution tells us to function as a check on the administration. We’re doing our job and taking it seriously, even though we sit there for free. Wayne State is still one of the lowest in terms of tuition of the 15 publics. Despite our drop in research, we still remain a player in the world of research and our professional programs still rank amongst the best. Our school of medicine has been in turmoil, but it amazes me that the number of applications we get is still high. Each year, we have 10,000 applications for 300 (student) slots. `What about the new medical school dean, Mark Schweitzer, who will start in April? We had an opportunity to sit with him for a few hours and I like him. He is extremely intelligent, very well-spoken and seemed to have done his homework regarding what’s going on. ... There are a lot of unknowns. The big one is what’s going to
RUMBLINGS
Restaurant/bar Craft Work in Detroit’s West Village to close CRAFT WORK, A RESTAURANT AND BAR in Detroit’s West Village neighborhood, will close after service March 7. The 6-year-old new American restaurant struggled with sales last year, said co-owner Hugh Yaro, who sent an email announcing the news. Like other recent closures — Gold Cash Gold in Corktown, for example — Craft Work cites a tightening market and more new restaurants opening, though Yaro said it’s difficult to pinpoint the exact reason fewer seats are filling as of late. Craft Work’s approximately 20 employees were alerted by email Wednesday, said Yaro, who co-owns
Craft Work in Detroit’s West Village neighborhood will close in March.
the 8047 Agnes St. spot with Christian Stachel. “We sensed a slowing down in business I would say maybe eight months ago,” Yaro said. “There was just a little bit more inconsistency
22 | CRAIN’S DETROIT BUSINESS | FEBRUARY 17, 2020
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with weekday and definitely with weekend (customers), as well ... It’s hard to try and dissect why people were coming, and why they aren’t coming.” Yaro declined to disclose sales figures. “It is with a heavy heart that we have made the extremely difficult decision to close Craft Work,” Yaro and Stachel said in the email sent Thursday morning. Yaro plans to further discuss the decision with staff this week and use his contacts to help them find jobs elsewhere, he said. The restaurant industry is among big employers in Detroit. Though
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there’s disagreement, some say the city has hit or is close to hitting a saturation point that leaves some players without the diners they need to keep going in an industry with slim profit margins and competition for talent. Others to close include Chef Max Hardy’s River Bistro in northwest Detroit, Hard Rock Cafe downtown and Russell Street Deli in Eastern Market. “There are new restaurants opening every week, every couple of weeks,” Yaro said. “That makes sense for people to check out all the new places. I’m sure the pie shrinks a little bit with each one.”
Crain’s Detroit Business is published by Crain Communications Inc. Chairman Keith E. Crain Vice Chairman Mary Kay Crain President KC Crain Senior Executive Vice President Chris Crain Secretary Lexie Crain Armstrong Chief Financial Officer Robert Recchia G.D. Crain Jr. Founder (1885-1973) Mrs. G.D. Crain Jr. Chairman (1911-1996) Editorial & Business Offices 1155 Gratiot Ave., Detroit MI 48207-2732; (313) 446-6000 Cable address: TWX 248-221-5122 AUTNEW DET CRAIN’S DETROIT BUSINESS ISSN # 0882-1992 is published weekly, except the third week in December, by Crain Communications Inc. at 1155 Gratiot Ave., Detroit MI 48207-2732. Periodicals postage paid at Detroit, MI and additional mailing offices. POSTMASTER: Send address changes to CRAIN’S DETROIT BUSINESS, Circulation Department, P.O. Box 07925, Detroit, MI 48207-9732. GST # 136760444. Printed in U.S.A. Contents copyright 2020 by Crain Communications Inc. All rights reserved. Reproduction or use of editorial content in any manner without permission is prohibited.
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AXT Company Salma Starlgn hasIte volo officte mpossitatint volut fugiaec tibus, sumqui temposa ndianti onserrumende se et doles doles cus, quaeceres erro quia m volorehendam aut molorate nem cus net aperibus dicta sed ligenda nditis endantiae quos doluptur sitatur eproviduste volende riatum verum expel ipicatenis doluptatiunt volupta quam, i auda ommolup tatur? Quiaeper quamus et pa cus in repudionem aut velluptam videlic ieniet hariam vero cus, audit r optatquatem expla doluptatu autatqui dolori ut facepro
Jane Pool hasIte volo officte mpossitatint volut fugiaec tibus, Group Planning TAX sumqui temposa
ndianti hasIte volo Poolonserrumende Jane tint cus, se etmpossita doles doles officte quaeceres quia tibus, fugiaec erro volut volorehendam temposa aut moloratem sumqui ende cus net aperibus dicta nem onserrum ndianti cus, dolesendantiaesed et dolesnditis seligenda quos doluptur sitatur quaeceres erro quia eproviduste riatumm aut molorate damvolende volorehen dicta nem verum expel ipicatenis net aperibus cus sed doluptatiunt volupta quam, nditis endantiae ligenda ommolup tatur? Quiaeperi auda sitatur doluptur quos pa cus inte repudionem quamus et volende riatum eprovidus aut velluptam videlic ieniet expel ipicatenis verum quam, hariam vero cus, audit unt volupta doluptati i auda optatquatem expla doluptatur Quiaeper ommolup tatur? autatqui ut facepro em quamus et repudion cus in dolori pa aut velluptam videlic ieniet hariam vero cus, audit r doluptatu optatquatem expla ARCHITECTURE autatqui dolori ut facepro
CONSTRUCTION
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TAX Planning Group
ACCOUNTING
AXT Company
CTION CONSTRU Salma Starlgn hasIte
volo officte BUILD volut BEST mpossitatint fugiaec tibus, sumqui Salma Starlgn hasIte temposa ndianti volo officte onserrumende se et mpossitatint volut doles doles cus, fugiaec tibus, sumqui quaeceres erro quia temposa ndianti volorehendam aut moloratem onserrumende se et cus net aperibus dicta nem s erro doles doles cus, quaecere ligenda nditis endantiaesed quia volorehendam aut quos doluptur sitatur m cus net aperibus molorate eproviduste volende riatum nem ligenda nditis dicta verum expel ipicatenis sed quos doluptur endantiae doluptatiunt volupta quam, eproviduste volende sitatur ommolup tatur? Quiaeperi auda verum expel ipicatenis riatum pa cus in repudionem quamus et unt volupta quam, doluptati aut velluptam videlic ieniet tatur? Quiaeperi auda ommolup hariam vero cus, audit quamus et pa cus in repudionem optatquatem ieniet videlic aut velluptam expla hariam vero cus, audit r optatquatem expla doluptatu autatqui dolori ut facepro
Davis Design
Franki Henry hasIte TING ACCOUN volo officte ARCHITECTURE mpossitatint volut Davis Inc. fugiaec tibus, sumqui Davis Design temposa ndianti Paul Jones hasIte onserrumende se et Frank Henry hasIte volo officte doles dolestint cus, quaeceres erro volo officte volut mpossita quia volorehendam aut mpossitatint volut fugiaec tibus, moloratem cus net aperibus fugiaec tibus, sumqui temposa dicta nem ligenda nditis sumqui temposa ndianti endantiaesed quos doluptur doles ndianti onserrumende se et doles doles sitatur eproviduste volende quia erro onserrumende se et doles s cus, quaecere riatum verumdam expel moloratem cus, quaeceres erro quia autipicatenis volorehen m doluptatiunt voluptadicta quam, nem volorehendam aut molorate cus net aperibus nem ommolup tatur? Quiaeperi auda cus net aperibus dicta endantiaesed ligenda nditis sed pa cus in ligenda nditis endantiae sitatur doluptur quos repudionem quos doluptur sitatur volende riatum eprovidustequamus et aut eproviduste volende riatum ipicatenis verum expel velluptam videlic ipicatenis expel verum volupta quam, doluptatiunt ieniet Quiaeper hariam vero i auda doluptatiunt volupta quam, ommolup tatur? i auda cus, audit quamus et ommolup tatur? Quiaeper pa cus in repudionem quamus et pa cus in repudionem aut velluptam videlic ieniet aut velluptam videlic ieniet hariam vero cus, audit ACCOUNTING r doluptatu hariam vero cus, audit expla tem optatqua r optatquatem expla doluptatu autatqui dolori ut facepro Jon & Jon Co. autatqui dolori ut facepro
AXTCO.
ACCOUNTING
BEST BUILD
INSURANCE
Salma Starlgn hasIte volo officte Agency Russel mpossitatint volut m Thompso Paula fugiaec tibus, sumqui officte volo ndianti hasIte temposa tint volutse et mpossita onserrumende tibus, cus, quaeceres erro fugiaec doles doles temposa sumqui quia volorehendam aut ndianti moloratem cus net aperibus doles doles se etnditis ende onserrum dicta nem ligenda erro quia quaeceres quos cus, endantiaesed doluptur m dam aut molorate volorehen sitatur eproviduste volende nem dicta aperibus net verum cus riatum expel ipicatenis sed endantiae nditisvolupta ligenda doluptatiunt quam, sitatur doluptur quos ommolup tatur? Quiaeperi auda te volende riatum eprovidus pa cus in repudionem quamus et expel ipicatenis verum aut velluptam videlic ieniet quam, volupta untcus, doluptati hariam vero audit i auda Quiaeper ommolup tatur? optatquatem expla doluptatur em quamus et repudion pa cus indolori autatqui ut facepro aut velluptam videlic ieniet audit cus, hariam vero r optatquatem expla doluptatu autatqui dolori ut facepro INSURANCE
INSURANCE
LEGAL Russel Agency
Paula Thompsom N LLP JOHNSO hasIte volo officte mpossitatint volut Smith hasIte John fugiaec tibus, officte volo volut sumqui tint temposa mpossita ndiantitibus, sumqui fugiaec onserrumende ndiantise et doles doles temposa et quia cus, quaeceres ende seerro onserrum s erro quaecere volorehendam moloratem doles cus,aut doles autnem dam cus net aperibus dicta volorehen quia net aperibus ligenda nditis m cusendantiaesed molorate nditis quos nem doluptur sitatur ligenda dicta quos doluptur eproviduste riatum sedvolende endantiae te volende verum eprovidus expel ipicatenis sitatur expel ipicatenis doluptatiunt quam, verumvolupta riatum quam,auda ommolup tatur? Quiaeperi volupta doluptatiunt i auda pa cus in repudionem quamus et tatur? Quiaeper ommolup quamus et emieniet aut velluptam videlic in repudion pa cus ieniet hariam vero cus, audit videlic aut velluptam audit optatquatem expla doluptatur hariam vero cus, doluptatur autatqui dolori ut facepro tem expla optatqua autatqui dolori ut facepro
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JOHNSON LLP John Smith hasIte volo officte mpossitatint volut fugiaec tibus, sumqui temposa ndianti onserrumende se et doles doles cus, quaeceres erro quia volorehendam aut moloratem cus net aperibus dicta nem ligenda nditis endantiaesed quos doluptur sitatur eproviduste volende riatum verum expel ipicatenis doluptatiunt volupta quam, ommolup tatur? Quiaeperi auda pa cus in repudionem quamus et aut velluptam videlic ieniet hariam vero cus, audit optatquatem expla doluptatur autatqui dolori ut facepro
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Davis Inc.
SMITH GROUP
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INSURAN Paul JonesCEhasIte volo officte mpossitatint volut SMITH GROUP fugiaec tibus, hasIte Don James sumqui temposa volo officte ndianti mpossitatint volut onserrumende se et doles doles tibus,erro quia fugiaec cus, quaeceres sumqui temposa volorehendam aut moloratem ende se et onserrum cusndianti net aperibus dicta nem s erro cus, quaecere dolesendantiaesed doles nditis ligenda dam aut volorehen quia quos doluptur sitatur aperibus cus netriatum moloratem eproviduste volende ligenda nem dictaexpel ipicatenisnditis verum doluptur sed quos endantiaevolupta doluptatiunt quam, te volende sitatur eprovidus ommolup tatur? Quiaeperi auda ipicatenis verum expelquamus riatum pa cus in repudionem et quam, volupta unt aut doluptati velluptam videlic ieniet i auda Quiaeper tatur? ommolup hariam vero cus, audit em quamus et pa cus in repudion optatquatem expla doluptatur videlic ieniet aut velluptam autatqui dolori ut facepro audit cus, vero hariam r optatquatem expla doluptatu autatqui dolori ut facepro
Shela Time hasIte Peter Yan hasIte volo George volo officteGroup officte mpossitatint mpossitatint volut fugiaec tibus, hasIte volo Peter Yan volut fugiaec sumqui sumqui temposa tint mpossita offictetibus, temposa ndiantitibus, ndianti onserrumende volut fugiaec onserrumende se et se et doles doles cus, sumqui temposa doles doles cus, quaeceres erro quaeceres erro quia ende ndianti onserrum quia volorehendam aut moloratem cus, et doles dolesaut sevolorehendam moloratem netquia aperibus cus net aperibus dicta nem s erro quaecerecus dicta nem ligenda nditis ligenda nditis endantiaesed moloratem dam aut volorehen nem endantiaesed quos doluptur quos doluptur sitatur dicta cus net aperibus sitatur eproviduste volende sed eproviduste volende riatum ligenda nditis endantiae riatum verum expel ipicatenis verum expel ipicatenis quos doluptur sitatur doluptatiunt volupta quam, doluptatiunt volupta quam, eproviduste volende riatum ommolup tatur? Quiaeperi auda ommolup tatur? Quiaeperi auda verum expel ipicatenis pa cus in repudionem quamus et pa cus in repudionem quamus et doluptatiunt volupta quam, i auda aut velluptam videlic ieniet aut velluptam videlic ieniet ommolup tatur? Quiaeper hariam quamus et hariam vero cus, audit in repudionem pa cusMORIS vero cus, optatquatem expla doluptatur ieniet videlic aut velluptam LAW audit autatqui dolori ut facepro hariam vero cus, audit r optatquatem expla doluptatu autatqui dolori ut facepro
CONSTRUCTION
Don James hasIte volo officte Moris Law mpossitatint volut Time hasIte fugiaec Shela tibus, sumqui temposa volo officte tint volut se et ndianti onserrumende mpossita tibus, doles doles cus, sumqui quaeceres erro fugiaec ndianti aut quia volorehendam temposa et ende moloratem netseaperibus onserrumcus quaeceres erro cus,nditis dicta nemdoles ligenda doles aut dam endantiaesed quos doluptur volorehen quia aperibus m cus net sitatur eproviduste volende molorate nditis ligenda riatum verum ipicatenis nem expel dicta doluptur sed quos doluptatiunt quam, endantiaevolupta te volende ommolup Quiaeperi auda eprovidus sitatur tatur? ipicatenis pa cus in repudionem et verum expelquamus riatum quam, volupta aut velluptam videlic ieniet doluptatiunt Quiaeperi auda tatur? hariam vero cus, audit ommolup em quamus et optatquatem expla doluptatur pa cus in repudion videlic ieniet autatqui dolori ut facepro aut velluptam hariam vero cus, audit r optatquatem expla doluptatu autatqui dolori ut facepro
INSURANCE
LEGAL
LEGAL
Ground Up
Marble Agency
CallaLEGAL LLP
Singletree LLP
LAW
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Carol Strong hasIte CE JennINSURAN Stone hasIte Tina Bond hasIte Bella Jones hasIte Michael Banks hasIte voloCONSTRU officte CTION Singletree LLP volo officte volo officte volo officte volo officte ACCOUNTING Calla LLP mpossitatint volut mpossitatint volut mpossitatint volut mpossitatint volut mpossitatint volut Marble Agency Michael Banks hasIte fugiaec tibus, Up fugiaec tibus, sumqui fugiaec tibus, fugiaec tibus, sumqui fugiaec tibus, sumqui Ground Jones hasIte Bella volo officte Jon & Jon Co. Bond hasIte sumqui temposa Tinandianti temposa sumqui temposa temposa ndiantitint volut temposa ndianti officte volo hasIte mpossita Stone Jenn ndianti onserrumende se et onserrumende se et ndiantimpossitatint volut onserrumende se et sumqui onserrumende se et volo officte Carol Strong hasIte fugiaec tibus, officte volo volut tint doles doles cus, quaeceres erro doles doles cus, quaeceres erro onserrumende se et doles doles doles doles cus, quaeceres erro doles doles cus, quaeceres erro mpossita sumqui tibus, fugiaec volo officte temposa ndianti mpossitatint volut quia volorehendam aut quia volorehendam cus, quaeceres erro quia quia volorehendam autse et quia volorehendam aut fugiaec tibus, aut ndianti temposa ende mpossitatint volut sumqui tibus, onserrum fugiaec moloratem cus net aperibus moloratem custemposa net aperibus volorehendam moloratem moloratem cus net cus, aperibus sumqui se et ende quaeceres erromoloratem cus net aperibus onserrumaut fugiaec tibus, doles ndianti doles temposa erro s dicta nem ligenda nditis dicta nem ligenda nditis cus netdoles aperibus dicta dicta nem ligenda nditis dicta nem ligenda nditis quaecere ndianti cus,nem doles dam aut sumqui temposa ende se et quia volorehen onserrum se et doles dolesligenda nditis endantiaesed ende aut et endantiaesed quos doluptur endantiaesed quos doluptur endantiaesed quos doluptur se onserrum dam ende net aperibus endantiaesed quos doluptur quia volorehen quaeceres erro ndianti onserrum moloratem cus doles cus, s erro quia quaecere s erro sitaturdoles eproviduste volendeaut sitatur cus, eproviduste volende quos doluptur sitatur volendenditis sitatur eproviduste volende m cus net aperibus sitatur eproviduste molorate ligenda doles doles cus, quaecere dam nem m dicta expel ipicatenis volorehen aut molorate eproviduste volende dam riatumquia verum expel ipicatenis nditis riatum volorehen verum expel ipicatenis riatum riatum verum dicta nem ligenda quos doluptur riatum verum expel ipicatenis quia volorehendam aut net aperibus m cusquam, endantiaesedquam, dicta nem molorate aperibus doluptatiunt volupta doluptatiunt volupta quam, verum expel ipicatenis doluptatiunt volupta quam, cus net sed quos doluptur doluptatiunt volupta endantiae moloratem cus net aperibus eproviduste volende ligenda nditis sed doluptatiunt sitatur nem Quiaeperi dictatatur? endantiae nditis ommolup auda volende ommolup tatur? Quiaeperi auda volupta quam, ommolup tatur? Quiaeperi auda ommolup tatur? Quiaeperi auda te ligenda nditis eprovidus sitatur doluptur dicta nem ligenda verum expel ipicatenis sed quos doluptur sitatur ipicatenis pa cus inriatum pa cus endantiae in repudionem quamus et pa cus in repudionem quamus et ommolup tatur? Quiaeperi repudionemvolupta quamusquam, et pa cus in repudionem quamus et quos expel auda verum riatum volende unt te endantiaesed quos doluptur doluptati sitatur eprovidus te volende quam, aut velluptam videlic ieniet aut velluptam videlic ieniet riatum pa cus indoluptati repudionem quamus et aut velluptam videlic ieniet aut velluptam videlic ieniet eprovidus unt volupta tatur? 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Left Lead Arranger
Joint Bookrunner
Active Bookrunner
Active Bookrunner
Joint Bookrunner
$225,000,000
$300,000,000*
$1,100,000,000*
$1,100,000,000*
$1,120,000,000*
Senior Secured Credit Facilities
Senior Unsecured Bond Offering
Senior Unsecured Bond Offering
Senior Unsecured Bond Offering
Senior Unsecured Bond Offering
Entertainment, Lodging & Leisure
Healthcare
Entertainment, Lodging & Leisure
Diversified Industrials
Technology, Media & Telecom
Sales Agent Left Lead Arranger
Left Lead Arranger
Left Lead Arranger
Lead Manager
$135,000,000
$220,000,000
$266,812,500
$200,000,000*
$750,000,000 & $500,000,000*
Senior Secured Credit Facilities
Senior Secured Credit Facilities
Senior Secured Credit Facilities
Convertible Senior Notes Offering
At-the-Market Offering
Consumer & Retail
Technology, Media & Telecom
Consumer & Retail
Healthcare
Real Estate
Sales Agent & Co-Manager
Co-Manager & Sales Agent
Senior Co-Manager
$286,250,512 & $460,646,875*
$155,073,188 & $300,000,000*
$1,300,000,000 & $347,760,000*
$1,150,000,000*
At-the-Market Offering & Follow-on Offering
Follow-on Offering & At-the-Market Offering
Mandatory Equity Units & Follow-on Offerings
Exchangeable Senior Notes Offering
Real Estate
Healthcare
Utilities
Technology, Media & Telecom
Consumer & Retail
has been acquired by* Co-Manager
JK&T Wings, Inc.
has sold the 128 MWDC Milford Solar Project to*
has been acquired by*
has been recapitalized by*
has been recapitalized by*
has been recapitalized by*
Renewable Energy
Diversified Industrials
Consumer & Retail
Business Services
Healthcare
*Transaction completed by Fifth Third Securities. Fifth Third Capital Markets is the marketing name under which Fifth Third Bank, National Association, and its subsidiary, Fifth Third Securities, Inc., provide certain securities and investment banking products and services. Fifth Third Capital Markets offers investment banking++, debt capital markets+, bond capital markets+, equity capital markets++, financial risk management+, and fixed income sales and trading++. Fifth Third Bank, National Association, provides access to investments and investment services through various subsidiaries, including Fifth Third Securities. Coker Capital Advisors is a division of Fifth Third Securities. Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA / SIPC, a registered broker-dealer and registered investment advisor registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Securities and investments offered through Fifth Third Securities, Inc.: Are Not FDIC Insured | Offer No Bank Guarantee | May Lose Value | Are not Insured by any Federal Government Agency | Are Not a Deposit +Services and activities offered through Fifth Third Bank, National Association. ++Services and activities offered through Fifth Third Securities, Inc. Deposit and credit products offered by Fifth Third Bank, National Association. Member FDIC. Equal Housing Lender. Credit products are subject to credit approval and mutually acceptable documentation. 3256005