Grand Rapids Business Journal 11.01.21 by Grand Rapids Business Journal

CEO mentoring group marks impacts.

PAGE 3

NOVEMBER 1, 2021 VOL. 39, NO. 22

The Business Newspaper of Metro Grand Rapids, Holland, Muskegon & West Michigan

BROWN SPREADS Founder’s grandson reconnects with Blackmer Blackmer tours FINANCE PASSION Bill distributor facility THIS WEEK

Educator starts ventures to help youths, families build healthy financial behaviors. Page 9

after years of yearning to know more of his grandfather’s legacy. Rachel Watson

rwatson@grbj.com

Immigrant investment Influx of Afghans will be first large group to receive support from new Kent County program. PAGE 3

Record optimism PNC’s fall economic outlook rides momentum from vaccines, pandemicadapted operations. PAGE 3

At age 22, Bill Blackmer stumbled across his grandfather’s most famous invention while cleaning house, but another 64 years passed before he reached out to the business that bears his family name. Inventor of the sliding vane, or rotary, pump, Robert Blackmer founded Blackmer Pump, Power and Manufacturing Company in Detroit at the turn of the 20th century. He moved the company to Petoskey in 1903, then sold his interest in the business and moved back to Detroit somewhere between 1908 and 1912 — records are fuzzy on the exact dates — where he launched his next career as a consulting engineer. Today, Blackmer is a global provider of sliding vane, centrifugal, screw and regenerative turbine pumps and reciprocating gas

compressor technologies primarily for the safe transfer of liquids and gases. It was acquired by the Dover Corporation in 1964 and became a founding operating company with-

in Dover’s Pump Solutions Group (PSG) in 2008. The company has been based at 1809 Century Ave. SW in Grand Rapids since 1925 and is currently

undergoing a $7 million expansion, as the Business Journal previously reported. The campus houses deCONTINUED ON PAGE 10

Blackford Capital spreads its wings

GOIN’ TO THE CLUB University Club of Grand Rapids taps Wisconsin native as GM to prep for 100-year celebration. Page 4

Managing director says firm adds supply chain value for portfolio companies through Asia partnership.

THE LIST

Rachel Watson

The area’s top property management firms. Page 6

Blackmer Pump has been based on Century Avenue SW in Grand Rapids since 1925 and currently is undergoing a $7 million expansion. Courtesy Blackmer

rwatson@grbj.com

Martin Stein started Blackford Capital 11 years ago, and in that time, he said a disciplined approach to investing has propelled the company’s growth and credibility. The Grand Rapids-based private equity (PE) firm, based at 190 Monroe Ave. NW in downtown Grand Rapids, acquires,

manages and builds founderand family-owned lower middle market manufacturing, industrial and distribution companies, helping them supercharge performance by improving operations and implementing aggressive growth plans. The firm currently has 11 portfolio companies and has had five exits in its history, with more expected to close this year, according to Stein, founder and managing director. As the Business Journal reported in a 2011 profile on Stein, he launched Blackford as a solo operator returning to his West Michigan roots after years of mergers and acquisitions (M&A) CONTINUED ON PAGE 11

Martin Stein said Blackford Capital currently has 11 portfolio companies and boasts five exits in its history, with more expected this year. Courtesy Blackford Capital

Inside Track ....... 9 Guest Columns.. 16 Wine, women, and money

FOOD WASTE composting gathers steam.

Change-Ups ..... 20 Calendar .......... 20 Public Record .... 21 Street Talk ...... 22

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GRAND RAPIDS BUSINESS JOURNAL

NOVEMBER 1, 2021

CEO mentoring group marks impacts County Jandernoa Entrepreneurial Mentoring celebrates success, sets new diversity goals. Rachel Watson

rwatson@grbj.com

Jandernoa Entrepreneurial Mentoring (JEM) is heading into its second decade with an expansion into nonprofit mentoring and a stronger focus on diversity, equity and inclusion. Since its inception in 2010, JEM has graduated 77 CEOs from its three-year mentoring program that aims to strengthen the next generation of leaders in the community. JEM recently celebrated its 10th and 11th years of the program, due to last year’s COVID-19 constraints, recognizing two graduating classes and their mentors. “Our goal has always been to develop better leaders that would in turn build stronger businesses,” said Mike Jandernoa, JEM founder and former CEO of Perrigo. “Because if we have stronger businesses and leaders, it will benefit West Michigan community members for generations to come.” The program pairs an average of 10 mentees per year who run a business with at least $1 million in revenue with mentors who are currently at the helm or retired

from successful companies with at least $5 million in revenue. The mentees must have a strong desire to grow personally and professionally and have a minimum of four full-time employees. Initially, Jandernoa tapped former Meijer CEO Paul Boyer and former Etna Supply President Russ Visner as mentors. Over the past 11 years, the list of mentors grew to include over 50 CEOs from various industries, including banking, health care, manufacturing and technology. “It’s incredibly rewarding to be able to take what we’ve learned in our career and use our experience to help another business executive,” said Visner, who has worked as a mentor with Brad Playford since 2010. “Many newer CEOs have the talent and the drive to grow their business but just need a little help to put the pieces together.” Playford was one of the first mentees to join JEM. He is CEO of AvaSure, a telehealth company he founded in 2008, which received a sizable equity investment from New York-based Goldman Sachs and Nashville, Tennessee-based Heritage Group earlier this year. Playford also is the first mentee to become a mentor, a commitment JEM sees as contributing to the program’s long-term sustainability. “It’s hard to express all the benefits I’ve received from being a part of JEM, but the most imCONTINUED ON PAGE 14

welcomes immigrants Influx of Afghans will be first large group to receive local support from new program. Chelsea Carter

ccarter@grbj.com

was earlier this year, and the economic outlook remains solid.” However, inflation is now a greater concern, as price hikes are expected to keep up with higher input and labor costs. More than half (54%) of business owners surveyed expect to increase their prices, and the anticipated hikes will be substantial, as more than a third expect to boost prices 5% or more, with favorable market conditions and higher costs cited as the leading factors. That’s a record high since PNC first asked the question in the survey in the fall of 2007. “With demand very strong, (small businesses) see that they have room to pass on those pricing costs to their customers, so that will help small businesses to stay profitable and keep their business models functioning, despite the inflation in the broader economy,” Adams said. He noted this price inflation is not expected to depress the “supercharged” demand currently in effect from the federal stimulus funding and historically low interest rates. Housing prices, supply chain Adams said household wealth in West Michigan has increased for some, due to historically high housing prices. “We have housing prices well above where they were in February 2020, and if you’re looking back relative to the peak of the housing

Kent County organizations are rallying community members and resources to ensure hundreds of Afghan refugees feel welcome in the community and help them adjust to life in West Michigan. The Kent County Gateways for Growth Welcome Plan Steering Committee is seeking support from individuals, businesses, organizations and funders to assist in the group’s commitment of making Kent County a welcoming and inclusive place for all. Opportunities for involvement will address essential needs of immigrants such as housing, financial assistance, mental health care and friendship for refugees following the United States’ withdrawal from Afghanistan. Omar Cuevas, part of the steering committee and vice president of marketing and sales at the Grand Rapids Area Chamber of Commerce, said this is the first time the welcome plan’s committee and task force have come together to implement a plan for a specific group since its launch last September. The group is looking to make these “new Americans” feel welcome and have a purpose and place in their new community that is provided to them in an equitable way. “We now have a nucleus of what this welcome plan is, and it includes the private and public sector, right? We understand that the resources are limited when it comes to groups like this, like these new Afghan neighbors that we’re going to have, and it’s up to our community to figure out how it is that we can come together to create not only a welcoming community, but create a sense of belonging for individuals that may have zero connections here locally, may not know anyone, may have language barriers, literacy issues in regard to language, but also navigating new systems,” said Cuevas. “On top of dealing with some potential mental health issues of no longer being in their home country and their communities with people who look like them, speak like them, even food culture. “So now they’re placed in this community. Well, what is it that we can do to make sure that from the start they feel that we have a community that’s committed to embracing them and helping them create their own space here where they can maintain their identity with the support of a number of organizations that have come together for this work?” The committee’s efforts to help Afghan refugees are a subset

CONTINUED ON PAGE 21

CONTINUED ON PAGE 18

Mike Jandernoa said he believes developing better leaders results in stronger businesses. Courtesy Jandernoa Entrepreneurial Mentoring

PNC survey shows record small business optimism 2021 Fall Economic Outlook rides momentum from vaccines, pandemic-adapted operations. Rachel Watson

rwatson@grbj.com

Business owners are feeling optimistic about the near-term future of their businesses amid increasing vaccination rates, and those who report that more than three-quarters of their workforce has been vaccinated are the most positive about their business outlook. This includes expectations for higher demand, sales and profits than companies reporting a lower rate of employee vaccination, according to PNC’s semiannual national small business survey, which was conducted Aug. 2-31. The PNC Fall Economic Outlook survey was conducted by telephone among small and mid-sized businesses with self-reported revenue of $100,000 to $250 million. Five hundred interviews were conducted nationally by the research and consulting firm Artemis Strategy Group. Data gathered during the survey show vaccines are top-of-mind for business owners. Eight in 10 (79%) businesses said they have taken action to encourage employee vaccination. Nearly half (48%) are

requiring employee vaccinations, 44% are providing assistance related to vaccinations (time off and/or education about vaccination), 26% are incentivizing employees to receive vaccinations, and 24% have added restrictions for employees who choose not to be vaccinated. Those efforts may well be making an impact: 78% of survey respondents estimate most of their employees have been vaccinated, and 43% believe their entire workforce is vaccinated. More than half (53%) of business leaders with fewer than 100 full-time employees have required their employees to receive the vaccine, more than double that of businesses with 100 or more full-time employees (26%). “The survey results demonstrate that most business owners believe the vaccine can have a positive impact on their businesses,” said Gus Faucher, PNC chief economist. “Further, business owner optimism rises as vaccination rates increase, indicating that efforts to support vaccinations broadly could strengthen the economic recovery.” Labor shortages, inflation Despite the optimism among business owners, challenges remain. While more employers hope to hire — and hiring expectations have returned to pre-pandemic levels — many businesses are struggling to find employees. Among all employers surveyed, labor availability is the most frequently mentioned concern, topping sales and

supply chain worries that were reported as more prominent earlier in the year. More than four in 10 employers say they are offering increased compensation to retain or attract new employees, implementing employee health or safety improvements (46%) and allowing more flexible work arrangements (44%). Bill Adams, senior vice president and senior economist for PNC, said Grand Rapids and West Michigan’s regional economy is recovering rapidly in regard to unemployment numbers, but labor shortages remain a very real problem locally. Profit expectations for the next six months have doubled Adams since PNC’s spring survey, and sales and demand have reached the highest levels in the survey’s 19-year history, PNC said. “Although conditions changed rapidly in August as the delta variant became more prominent and COVID-19 cases rose, there was essentially no change in sales growth expectations between the first and second halves of the month,” Faucher said. “While optimism for leaders’ own business prospects tempered as the month progressed, it is still significantly higher than it

NOVEMBER 1, 2021

GRAND RAPIDS BUSINESS JOURNAL

University Club nears centennial with new leader Wisconsin native picks Grand Rapids for its emerging food scene after hospitality career in Chicago. Rachel Watson

rwatson@grbj.com

A staple of Grand Rapids’ urban life for nearly a century, the University Club of Grand Rapids is heading into its next era with a new leader who wants to modernize the club for the next generation. Founded in 1923, The University Club of Grand Rapids serves as a hub for business leaders and community members who come together to build business connections, entertain guests and enjoy social camaraderie on the 10th floor of the Fifth Third Center, at 111 Lyon St. NW in downtown Grand Rapids. The member-owned, not-forprofit club offers a café; dining room; meeting rooms; a pool and a gym with workout classes; access to exclusive events like wine tastings and cooking lessons; breakfast and lunch Monday-Friday and dinner Wednesday-Friday; annual events like brunch with Santa and Easter and Mother’s Day meals; space for events such as weddings and Rotary Club meetings; and a scholarship foundation that raises money for area young people to attend college.

University Club membership pricing is tiered by age and amenities, with the social-only memberships starting at $90 per month and social and athletic memberships starting at $100 for those under 30 and increasing by age up to $165 for those 41 and older. Discounted memberships are available for people who live and work outside a 25-mile radius of the city. The University Club also offers reciprocal privileges at clubs throughout the nation and world, including overnight accommodations, golf and dining. Currently, the University Club has approximately 425 members. In August, the board hired Milwaukee native Mark Canak — who spent most of his hospitality career in Chicago following his graduation in 2005 from the University of Wisconsin-Madison — as the club’s general manager. Canak has been working in the hospitality industry since age 15 (almost 25 years), and he is a trained sommelier, which according to club board member Phil Mitchell, was a big part of his appeal. “We hired a new club general manager … to lead the club into the future,” Mitchell said. “Mark and his sommelier experience (offer) unique expertise in wine that we are excited about moving forward.” Canak, who recently married a Detroit native, said he and his wife were finding life in Chicago “exhausting” and were ready for a

New GM Mark Canak said he is eager to be part of a growing city with a burgeoning food and beverage scene that’s a hotbed for young professionals. Courtesy University Club

change of pace when the University Club job opportunity arose. They still are in the process of fully relocating to Grand Rapids — his wife just got a job for a company based in Chicago that she’ll eventually work for remotely, and they have to sell their condo — but they already like what they see, he said. “We found that Grand Rapids was just the perfect spot, because if we want to go to Chicago, it’s only three hours away, if want to go see her family, it’s only twoand-a-half hours away, and if we want to go to wine country in Tra-

verse City, it’s two hours away.” Canak said he is eager to be part of a growing city with a burgeoning food and beverage scene that’s a hotbed for young professionals. He has visited breweries that serve pickle pizzas and seen olive burgers on just about every menu, things he’s never encountered anywhere else but Grand Rapids, and he said the up-andcoming Bridge Street corridor reminds him of “Restaurant Row” on Randolph Street in Chicago. “The city is evolving at a rapid pace, and it’s very cool; it’s very hip,” he said.

His plan is to lead the University Club into its next era while ensuring it reflects the diverse and vibrant city it calls home, Canak said. “(The club) is a historic and iconic institution of Grand Rapids, and I think it needs to be as relevant as the city is,” he said. “… I took the tour of the University Club, and I just saw there’s so much here we can work with and create wonderful things. My predecessor, Cindi Poll, she carried this club for nearly 30 years and did an amazing job, and now I’m humbled and honored to lead the charge next.” Canak said the board is equally “wonderful,” with each of its members having a specialty that in some way benefits the organization. The University Club members are why it exists in the first place, so Canak said he is going to apply his lessons in “elevated” hospitality from Chicago’s city clubs to ensure the organization lives on. “We want to make sure that you, a member here, that it becomes your home away from home, where you’re greeted, my staff know your first and last name, your favorite drink, what you like to eat, the way you want your steak cooked, your kids’ birthdays — all that stuff we want to cater to,” he said. He described club members as “more than just regulars,” noting many of them care so deeply they CONTINUED ON PAGE 18

¬21 in 2021 We’ve increased our U.S. minimum hourly wage to $21 as a next step toward $25 by 2025. Bank of America has raised our minimum rate of pay for all U.S. employees to $21/hour — the next step toward $25 by 2025. Over the past four years, we have led the way by increasing our minimum hourly wage 40%. Being a great place to work starts with investing in the people who serve our clients. Providing strong pay and competitive benefits to support our employees and their families helps us attract and retain strong talent. Our actions demonstrate our continuing commitment to sustain job growth and economic stability for the thousands of individuals working in support of each other, our clients and the communities where we work and live. We will continue our efforts to make a difference and serve as a catalyst for others to do the same. What would you like the power to do?®

Renee Tabben President, Bank of America Grand Rapids

Learn more at bankofamerica.com/grandrapids

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GRAND RAPIDS BUSINESS JOURNAL

NOVEMBER 1, 2021

THE LIST

Top Area Property Management Firms (RANKED BY 2020 WEST MICHIGAN SQUARE FOOTAGE UNDER MANAGEMENT) Year established Top local executive(s) in W. Mich. 1

Colliers West Michigan 333 Bridge St. NW, Suite 1200 Grand Rapids 49504 p (616) 454-7700 f 774-3600 colliers.com/westmichigan

JLL 15 Ionia Ave. SW Grand Rapids 49503 p (616) 649-3552 us.jll.com

NAI Wisinski of West Michigan 100 Grandville Ave. SW, Suite 100 Grand Rapids 49503 p (616) 776-0100 f 776-0101 naiwwm.com

2020 2019 W. Mich. property management revenue

2020 2019 W. Mich. square footage managed

2020 No. of W. Mich. licensed agents

% total square footage (retail, office, warehouse, multiunit, other)

Transaction award Names or types of major W. Mich. properties managed

Kyle Sischo

1995

DND DND

10,321,780 DND

Retail 24% Office 15% Warehouse 55% Multiunit 6% Other 0%

Industrial, retail, multifamily, condominium, professional and medical office, mixed-use

Bob Horn Jeff Karger Scott Rantala Ken Koupal

2016

DND DND

6,920,000 6,875,000

Retail 67% Office 17% Warehouse 16% Multiunit 0% Other 0%

PNC, Bank of America, JP Morgan Chase, GM, P&G, Meijer

Doug Taatjes Tom Kilgore Kurt Kunst Mary Anne WisinskiRosely Rod Alderink Bill Tyson Jason Makowski Brad Bruinsma Chris Prins

2011

DND DND

4,100,000 3,950,000

Retail 16% Office 19% Warehouse 55% Multiunit 10%

Approximately 108 office, retail, condominium and industrial properties

Michael Mraz Monica Steimle-App

1987

DND DND

3,500,000 DND

Retail 12% Office 59% Warehouse 12% Multiunit 17%

The Hendrik, The Morton, McKay Tower, Doug Meijer Medical Innovation Building, offices, retail and multifamily buildings

New property

Rockford Construction 601 First St. NW Grand Rapids 49504 p (616) 285-6933 f 285-8001 rockfordconstruction.com

CWD Real Estate Investment 50 Louis St. NW, Suite 600 Grand Rapids 49503 p (616) 726-1700 cwdrealestate.com

Sam Cummings Scott Wierda Dan DeVos

2008

DND DND

2,362,000 2,590,000

Retail 40% Office 55% Warehouse 0% Multiunit 5% Other 0%

37 Ottawa, 50 Monroe, Fifth Third Center, 200/300 Ottawa, PNC Building, Trust Building, Ledyard Building, Calder Plaza Building, Bucktown, Breton Village, Gaslight Village

SIBSCO Property Management 220 Lyon St. NW, Suite 510 Grand Rapids 49503 p (616) 235-0012 f 235-0014 sibsco.com

Charlie Hoats Charlie Secchia

2017

DND DND

2,000,000 DND

Retail 7% Office 18% Warehouse 71% Multiunit 4%

Industrial, office, retail, multifamily

Sally Tucker

2013

DND DND

1,044,000 912,000

Retail 15% Office 50% Warehouse 15% Other 20%

401 Hall St., Grand Rapids Corporate Center, Wyoming VA Clinic, Exhibitors Building

Jason Wheeler

2018

$1.21 Million $1.16 Million

825,188 799,201

Retail 25% Office 25% Warehouse 0% Multiunit 50%

Michigan Meadows Townhomes, Knoll Townhomes, Hanover Townhomes, Preserve Townhomes, Portview Flats, Eastown Flats, Fulton Square, Homes at River's Edge, 4070 Lake Drive, 15 Ionia Ave., 49 Monroe Center, 2000 43rd St., Rainbow Plaza, Woodpointe Crossing, 54 Courtland St., 123 Courtland St., 17 Squires St.

Bradley Company 220 Lyon St., Suite 400 Grand Rapids 49503 p (616) 254-0005 bradleyco.com

PURE Real Estate Management 32 Market Ave. SW, Suite 500 Grand Rapids 49503 p (616) 631 7769 purerealestatemanagement.com

Ben M. Muller Realty Co. Inc. 1971 East Beltline Ave. NE, Suite 240 Grand Rapids 49525 p (616) 456-7114 f 456-6025 mullerrealty.com

Mark Muller

1958

DND DND

778,960 686,894

Retail 70% Office 20% Warehouse 10%

Celebration Village, Knapp's Corner Shops, Woodland Corner Shops, Rockford Promenade, The Shoppes Plaza, Qdoba, Dollar Tree

Silveri Management Company 2959 Lucerne Drive SE, Suite 110 Grand Rapids 49546 p (616) 949-7776 f 949-7929 silverimanagement.com

Glenn Turek

1989

DND DND

423,906 DND

Retail 3% Office 22% Warehouse 0% Multiunit 67% Other 8%

Meadows Crossing Apartments

Northstar Commercial Property Management 660 Cascade West Pkwy. SE Grand Rapids 49546 p (616)247-9600 f 247-9601 northstarcommercial.net

Steve Millman

2009

DND DND

260,000 DND

Retail 35% Office 50% Warehouse 10% Multiunit 5%

660 Cascade West Pkwy. SE; 3767 28th St. SE; 522 Stocking Ave. NW; 6755 Kalamazoo Ave. SE; 570 E. Division St. NE

Michael Woodrow John Murphy

1986

DND DND

Retail 0% Office 0% Warehouse 0% Multiunit 100% Other 0%

Multifamily properties

Jill Hemmes

2006

DND DND

Retail 0% Office 10% Warehouse 90% Multiunit 0% Other 0%

DND

Steve Dodgson

1971

DND DND

Retail 30% Office 70% Warehouse 0% Multiunit 0% Other 0%

Office and retail properties in metro Grand Rapids

CORE Realty Holdings Management Inc. 4503 Broadmoor Ave. SE Grand Rapids 49512 p (616) 554-1109 f 554-4963 corerealtyholdings.com Dodgson Management Co. 4265 28th St. SE Grand Rapids 49512 p (616) 458-3822 f 458-6619 dodgsonmanagement.com

Rockford Property Management assumed the property management responsibilities for Lofts of Alabama, located at 421 Alabama Ave. NW.

Staff grows

American Preferred Management Co. 6140 28th St., Suite 220 Grand Rapids 49546 p (616) 942-1792 f 942-5465 americanpfrd.com

NAI Wisinski of West Michigan Broker Stu Kingma was honored with the Industrial Transaction of the Year award from the Commercial Alliance of Realtors.

The Grand Rapids Business Journal list of top area property management firms, ranked by 2020 West Michigan square footage under management, is the most comprehensive available. The list is based on responses to Business Journal surveys. The Business Journal defines "West Michigan" as Allegan, Kent, Ottawa and Muskegon counties. The Business Journal surveyed 72 companies; 14 returned surveys and 14 are listed. To be considered for future lists, email dnelson@grbj.com. DND = Did not disclose

Kyle Grooters joined Bradley Company as an adviser within the brokerage department. He previously worked with Robert Grooters Development Co., Icon Realty Group Commercial and RE/MAX Commercial.

Accreditation PURE Real Estate Management of Grand Rapids earned Accredited Management Organization recognition from the Institute of Real Estate Management.

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Download this list now at GRBJ.com in Excel or PDF format. The Book of Lists and other lists are also available.

GRAND RAPIDS BUSINESS JOURNAL

NOVEMBER 1, 2021

Real estate deals vary by sector Retail is surging and industrial remains strong, but office is lagging. Danielle Nelson

dnelson@grbj.com

The Grand Rapids real estate market continues to evolve as different sectors show signs of progress. The market assessment is based on a report from Colliers West Michigan, a commercial real estate brokerage services and investment management company, outlining the third quarter retail, industrial and office market overviews. The retail market report shows several new stores and restaurants were announced during the third quarter and the upcoming holiday season spurs continued “optimism” for the sector. “Heading into the holiday season, we’re seeing optimism from retailers based on their activity throughout this year,” said Earl Clements, senior vice president with Colliers. “While there are some concerns going forward about staffing shortages and supply chain issues, retailers and restaurants had an active third quarter and continue to innovate.” The restaurants and food establishments that were under construction in the third quarter include a Chick-fil-A at the intersection of Lake Michigan Drive and Wilson Avenue in Walker and a Whole Foods store across from Woodland Mall. Detroit Cookie Co. is planning to open its third location in Cascade Township. Along with new restaurants and food establishments, there was strong activity in the third quarter among retail stores, including hair and nail salons, physical therapy, dental and quick service options. According to Colliers, tenants in West Michigan were looking for new and different locations. Vacant land, freestanding buildings and inline strip centers all were in demand in the third quarter. Shawn O’Brien is the vice president for retail services at Colliers. He said the prime locations for retailers continue to shift from regional mall destination sites to more interchange locations with robust traffic counts, convenient access and strong demographics. “Access to good schools and job growth, primarily in high-tech, medical professional services, will drive the growth in rooftops for the future,” he said. The prime locations in Grand Rapids, specifically, are fluctuating. Activity at some malls is increasing. Clements said Woodland Mall is “well on the rebound versus RiverTown (Crossings).” Traditional retail corridors also are picking up momentum. “28th Street SE is on fire, and I don’t see a slowdown other than the effects of finding people that want to work and the effects of the supply chain, which is going to get worse and probably not improve until late next year, if even then,” he said. The level of activity in the in-

dustrial sector remained steady, according to Colliers’ market overview. Julie O’Brien, vice president of industrial services, said the activity level at the beginning of the third quarter is traditionally slower, but that was not the case this year. “It is usually a slower beginning to the third quarter because so many people are on vacation during the month of July,” she said. “Historically, if there was a slow time for activity or being able to reach people, that’s when it is. With COVID and so many people working remotely now, I didn’t see a slowdown at all this year.” The high demand for industrial space in a limited market contributed to strong activity. There was more leasing activity in the third quarter because the available space to purchase was minimal, even though the demand for sale opportunities was “immense.” The vacancy’s rate in Grand Rapids’ industrial sector is 3.28%, per Colliers. O’Brien said warehouse facilities, especially in the e-commerce segment, accounted for more space needs. Amazon plans to add its first mid-Michigan fulfillment center. Flex spaces also were in demand. Companies that focus on distribution of consumable products, and companies and contractors related to building and home improvement, were emerging in the market in the third quarter. Advanced Architectural Products, designer and manufacturer of insulation systems and thermal bridging, was one company that expanded. It added a $1.1 million expansion to its Allegan facility. While some office users have started coming back to work in person, the office 2021 third quarter market overview revealed “employees are not flocking back to the office as those in commercial office real estate had hoped.” With fears of the delta variant of COVID-19 and changes in safety protocols, Colliers said many employers are declining to sign new leases or buy office properties; however, medical offices continued to lead activity in the office market. While slower overall, there were some office transactions that occurred during the third quarter. D.A. Blodgett-St. John’s sold its Leonard Street campus to Hope Network, which will allow nonprofit services to continue at the property as D.A. Blodgett constructs its new headquarters. A two-story building at Eaglecrest Office Park in northeast Grand Rapids was sold to an owner-occupant medical practice. “It’s certainly been very challenging in the office sector, but companies that were making moves were able to find space that is high quality and ready for employees to begin work immediately,” said Scott Morgan, senior vice president with Colliers. “The next few months may tell us more about what the office sector will look like going forward as more employers finalize plans about returning to work or keeping parts of their business remote.

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NOVEMBER 1, 2021

GRAND RAPIDS BUSINESS JOURNAL

Firm provides classes on legal, business ethics Former law professor injects levity into a serious subject. Danielle Nelson

dnelson@grbj.com

Making the right decision can be hard, but a local attorney is trying to make it easier. Victoria Vuletich launched Ethics Squared, a firm that provides legal and business ethics classes to educate individuals on the impor-

tance of ethics and ethical decision making in the workplace, in public and in relationships. Vuletich was a former professor at Western Michigan University Thomas M. Cooley Law School. She was also an ethics counsel and the deputy director of the professional standards division of the State Bar of Michigan where she advised lawyers on how to resolve the ethical dilemmas they faced in legal cases. Now she is sharing her legal ethics expertise with the public. “I just really have a passion for

ethics,” she said. “Ethics is a powerful tool for solving problems and understanding our very complex world. I started Ethics Squared because after many, many years of focusing on rules, codes of conduct and regulations, and the old professionalism oath, our world is still in a crisis of ethics and integrity. My goal is to make ethics interesting and fun for people to learn about because it is a very powerful tool for navigating our very complicated world.” Vuletich and her colleagues, Todd Fettig, a former journalist

and media attorney, and Aaron Hamming, an attorney and risk management consultant, are offering Ethics Squared courses to businesses, organizations and individuals. There are 12 courses, which Vuletich said can be taken together or separately. The courses focus on the biological, sociological and personality dynamics behind making decisions. “Many ethics decisions are made in the moment and under pressure,” Vuletich said. “Often times, people make deci-

sions based on what is happening subconsciously. They’re not even aware of certain things that they’re thinking or certain things that they’re considering because it’s subconscious and these can have direct impact in ethics decisions. So, part of the goal of Ethics Squared is to make people more aware of subconscious dynamics so that they will make better ethics decisions. Ethics decisions always involve a balance of competing interests, so people tend to think of ethics decisions as being right versus wrong.

“Many ethics decisions are made in the moment and under pressure.” Victoria Vuletich

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“Well, usually if it’s a rightversus-wrong (situation), people know they should choose the right thing. The interesting ethics questions and the ones that confound people are the right-versus-right ethics questions where you have competing interests, both of which are valid, both of which are important and if you’re not aware subconsciously of what’s going on, then you might choose unintentionally Vuletich and subconsciously a value without weighing the benefits and the strength of the arguments of the competing interests.” Courses being offered are: •Practical tools for navigating the partisan divide •Tools for cultivating ethical and moral resilience in a seemingly disintegrating moral world •The subconscious drivers of ethics decision making: Mindset, personality science and conflicts between important values •Subconscious (and conscious) cognitive decision-making dynamics impacting ethics and morals •How brain chemistry can make us more, or less, ethical •Hidden dynamics involved in making ethics decisions: Why ethical wellness is as important as laws, rules and codes of conduct •Spirituality, ethics and morals: They are not the same things •The unwritten norms of the legal profession: A workshop for law students and new lawyers building their professional identities •Making your company’s code of conduct come alive on an everyday basis •DEI and ethics education: The win pillars of your company’s culture •Cultivating brain chemistry to make us more ethical, better problem-solvers and, surprise: happier Ethics Squared is currently working with the National Wellness Institute and Butler University executive education program to design the ethics curriculum CONTINUED ON PAGE 10

INSIDE TRACK

GRAND RAPIDS BUSINESS JOURNAL

NOVENBER 1, 2021

Brown spreads passion for personal finance Educator starts ventures to help youths, families build healthy financial behaviors. Rachel Watson

rwatson@grbj.com

ondreá Brown might never have journeyed down his current path if not for his lack of access to personal finance concepts in his early years. Brown was one of six children raised by a single mother whom he said did “an amazing job” raising her family but did not have the knowledge to pass on about financial management or wealth-building. Money was tight as a kid, and Brown spent much of his time and energy trying to figure out how to access resources. Around his first year of high school, Brown entered the foster care system, where he said he learned more about the “haves” and the “have-nots” of this world. His foster family gave him the opportunity to travel and attain scholarships, and he learned a little more about finances through them. But it wasn’t until his junior year of college at Kent State University in Ohio, when his student loan debt was starting to pile up, that he started to receive a serious education in budgeting. It happened seemingly by chance, when he took a sociology class on poverty, and his professor, Richard Serpe, offered to mentor him. “There were 100 students in our classroom, and he was talking about generational wealth and all these things, and he was like, ‘If you’re interested in building wealth, stay after class.’ He said, ‘I ask this every year, and only 1% usually engages with me.’ I was that 1%,” Brown said. Serpe quickly became Brown’s supporter and mentor, teaching him how to better manage his money and helping him to set up an individual retirement account (IRA). “He was, for me, a pivotal point in me becoming more empowered and aware of financial literacy and education,” Brown said. “Then from there, I started to learn, observe and create my own financial literacy models.” Brown earned a bachelor’s degree in political science and a mas-

ter’s degree in education with an emphasis in curriculum instruction from Kent State, and he is currently working on a doctorate in cultural foundations. He said he never lost his passion for helping people learn how to build generational wealth. He became a certified financial education instructor in 2013; moved to Grand Rapids in 2017 for a job at Aquinas College and started his business, 1428 Financial Wellness; and founded a nonprofit, Young Money Finances, also based in Grand Rapids, in 2019. “I always had a drive and a need to really figure out, ‘How do I become the last generation that starts from scratch?’” he said. “My background wasn’t in finances, but I had to become a teacher and a learner of the financial world to figure out how to teach finances in a non-numbers way, because we know many communities such as (my own) were afraid of numbers, but then when it came down to it, we started to realize that it was a lot of behavior and lack of access to resources and accountability that impacted our ability to have some type of financial control or management.” The numeral 1428 in his business name refers to the biblical verse Luke 14:28, which talks about weighing the cost before starting a project. Brown said the more he studied biblical principles that apply to financial literacy, the more he wanted to share them with families and communities. Although 1428 Financial Wellness has no religious affiliation or requirement, it is inspired by the Bible and other books like “The Richest Man in Babylon,” and it provides a “culturally responsive financial literacy system” Brown developed and which he uses in one-on-one coaching and workshops with individuals and families. Through 1428, Brown also partners with colleges, universities and organizations such as the Boys and Girls Club, West Michigan Center for Arts and Technology (WMCAT) and the Early Learning Neighborhood Collaborative (ELNC) to help them rewrite their financial literacy curricula and improve their class retention rates.

DONDREÁ BROWN Organization: 1428 Financial Wellness, Young Money Finances Position: Founder and CEO, founder and executive director Age: 33 Birthplace: Columbus, Ohio Residence: Grand Rapids Family: Seven children: Saniya Brown, Nadia Brown, Aniylah Rogers, Jaden Brown, Myah Brown, Jaliyah Brown and Carter Wallace Community/Business Involvement: Finance Committee member for Camp Blodgett, Resident Engagement Committee member for Dwelling Place, Retention Committee member for To College Through College, director of student support services and the Center for Opportunities, Resources and Excellence at Aquinas College. Biggest Career Break: When he decided to establish two organizations: the for-profit 1428 Financial Wellness and the nonprofit Young Money Finances.

Dondreá Brown’s first exposure to financial literacy was in the foster care system; now he’s taught those concepts to more than 2,000 youth. Courtesy of Doug Sims Photography.

Two years into his business, Brown saw a growing need for a nonprofit that would remove the cost barriers for young people to access financial education. Through grants and partnerships, Young Money Finances offers virtual and in-person finance camps and workshops to youths 10 years of age and older to help them on their way to becoming financially independent adults. The nonprofit started with just Brown but now has eight instructors and a few support staff members. Classes are taught from a financial standpoint, but also a psychological standpoint, helping kids understand the intersection between mental health and wellness and financial health. The curriculum is built to be fun and engaging, with catchy mnemonics like “plan, prioritize and pay” and “spend, save, share or give” and money manager kits that contain flash cards and games. “They call me ‘The Finance Guy,’” Brown said. “We were giving a workshop last week, and the students stayed 30 minutes after to still play the game as they were learning about financial terms.” One of Brown’s ultimate goals is to bring his financial literacy curriculum into school systems, as well as continuing to visit WMCAT and the Boys & Girls Club. He also hopes to open a brickand-mortar location someday that would have a mock stock-exchange floor to give kids a taste of investing in the stock market, and/ or a mock bank branch that would demonstrate how the banking system works. Brown said Young Money Finances has so far impacted at least 2,000 individuals and counting,

and the organization is working to expand that impact. He wants Young Money Finances to be a group of people who listen rather than assuming they know what the community needs. In August, the nonprofit hosted a strategic planning event and invited its board of directors, past class participants, workshop instructors and the community to have conversations about where the needs are and how Young Money Finances can help meet them. Organizations such as STEM Greenhouse, Project GREEN (Grassroots Economic Empowerment Network), Bank of America and representatives from local juvenile detention centers were in attendance. Young Money Finances also showed up as a vendor at multiple community events this year to spark conversations with attendees about building wealth. This led to the organization being nominated for a 2021 Innovation Award through Linc Up’s Community Spirit Awards program. “I think the community really recognizes that we’re taking this realistic, authentic approach, but we’re also being innovative in our strategies of teaching financial literacy,” Brown said. He said it’s important for financial educators to understand financial stressors aren’t always just about money. They could stem from mental health, employment or educational attainment issues, as well. “We completely understand that there’s this two-way impact of financial education and these other areas,” he said. “One of the things we want to be able to do is to respond to the community’s

specific need and not go in and teach something about, let’s say homeownership, where the individuals are not in a space where they even want to own homes.” Brown said he is proud of being able to secure funding for Young Money Finances from organizations such as Heart of West Michigan United Way, the Grand Rapids Community Foundation and Huntington Bank. “Receiving those funds is always a great accomplishment, but it’s even more meaningful to know that we are teaching a student who didn’t know where their money was going, they were just spending it, and now they’re actually sitting down and being intentional about where they want their money to go,” he said. He cited other success stories such as a young person who signed up for a credit card and maxed it out being able to create a plan for paying down that debt, a student figuring out how to pay their parents back for tuition while still in school and making good grades, and a young girl who was struggling with depression but was able to experience relief from it after taking charge of her financial future. Through 1428, Brown said he is working on a “train the trainer” approach that would equip teachers who feel out of their depth and leaders of other organizations in teaching financial literacy. He also would like to someday establish a charter school that covers general education concepts but also has an emphasis in financial education. Brown also is working on a book, “G.O.A.L. Getter,” where “G.O.A.L.” stands for “getting over all limitations.”

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Kent County’s Department of Public Works released its Status of Organic Waste Management in Western Michigan report as it remains steadfast in its goal to reduce landfill food waste by 90% before 2030. “At both the national and state levels, healthy living trends are driving adherents to consider what kind of food they consume and what happens to the food waste,” the report stated. “Officials from some of the largest metropolitan centers in the West Michigan region have received increasing interest from their residential and small business customers to expand the ability of their local waste systems to include a composting option. The city of Grand Rapids and the city of Holland are both revamping the delivery of their recycling services to include composite collection and processing. Currently, the composting trend is being led by urban residents where space is more limited for personal composting. However, the trend and the demand for commercial composting will likely continue into the outlying suburbs and eventually rural residential areas.” There are small composting operations in the region, but most are designed for yard waste. According to the report, onethird of food waste accepted at Kent County’s South Kent Landfill and Waste-to-Energy Facility are organic materials. In 2017, it was estimated as much as 230,000 tons of mixed organics were disposed of annually. If that amount was turned into compost, officials estimate the value would be as high as $9 million. With just several small composting operations in the region, however, West Michigan does not have a compost processing system that can “extract” the market value of mixed organics. Mixed organic waste include “yard waste; wood; food waste; paper products; manure or animal

bedding; anaerobic digester digestate that does not contain free liquids; compostable products; dead animals unless infectious or managed under other state laws; spent grain from breweries; paunch; food processing residuals; aquatic plants; any other material, including, but not limited to, fat, oil or grease,” according to the report. West Michigan disposes of an estimated 132,000 tons of food waste through the municipal waste stream each year. It is the largest source of material disposed of in the landfill and the waste-to-energy facility. Thirty percent of the global food loss occurs at the agricultural production and harvest stage, 6% at post-harvest, 3% at processing and packaging, 18% at retail and distribution; and 42% at consumption, according to the report. Nationally, the USDA estimates that as much as 40% of purchased food is wasted. Wasted food is caused by a variety of reasons. “Households toss limp vegetables, as many people are confused by food date labels and unnecessarily discard uneaten food,” per the report. “Restaurants and home cooks often prepare and serve large portions and discard leftovers. Grocery stores overstock their shelves to maintain an image of abundance. Farmers are unable to sell produce that doesn’t look perfect or dump it due to economic variables.” To limit the food waste that ends up in landfills, and to reach the county’s goal of reducing food waste by 90%, the report provided insight into available technology that can turn mixed organic waste to compost through “composting,” which is “a managed process which utilizes microorganisms that feed on organic material and consume oxygen,” according to the report. “The process generates heat, drives off moisture and reduces bulky organic waste in just a few months into beneficial soil-like material containing nutrients, humus and microorganisms.” Most cities in West Michigan have passed local ordinances to prohibit residential composting because of public health concerns. The technologic suggestions by the report are as follows:

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Founder’s grandson reconnects with Blackmer CONTINUED FROM PAGE 1

sign, engineering, manufacturing, testing, customer service and administrative functions for Blackmer. The founder’s grandson, Bill Blackmer — originally from Southfield but a resident of Cumming, Georgia, for the past 10 years — never worked for the company his forebear founded. In fact, he never heard of it until discovering a Blackmer pump while cleaning out his grandparents’ house after their death, when he was 22. His grandfather was 74 when he was born and had sold the company long before, so no one in the family mentioned it to Bill Blackmer, now 86, when he was growing up. In 1957, at the age of 96, Robert Blackmer died. This spring, Bill Blackmer was visiting with his granddaughter, who had returned home on break from the University of Georgia, and he noticed she was wearing a Blackmer T-shirt, bringing back to mind his grandfather’s business. Intrigued, he began searching online for similar Blackmer memorabilia. “I thought how neat it would be to give them as gifts to my children and grandchildren,” Bill Blackmer said. He sent an email to the company mentioning his familial connection and requesting merchandise to purchase, and Steve Cox, a regional sales manager at Blackmer, replied. Since Cox and Josh Pepper, a regional sales director, already were planning a business trip to the South, they offered Bill Blackmer

the opportunity to see today’s version of his grandfather’s invention at the Blackmer distributor Voigt-Abernathy in Cumming, Georgia. Cox and Pepper took Bill Blackmer on a tour of the facility on May 4. “I met with Steve, Josh and others at the Voigt-Abernathy facility in Cumming, Georgia, where I was shown some extremely interesting and impressive pieces of Blackmer equipment — much more complicated than the original vane pump,” Bill Blackmer said. Since then, he has been thinking back on how he had many opportunities to stop into the Grand Rapids headquarters over the years when he was working in advertising sales across Michigan, but he never did. “I have a brother-in-law who lives in Muskegon, and his wife is originally from Grand Rapids, so I’m sure that I will now,” he said. “The next time we’re going, I will call them and see if I can’t set up a meeting and a tour to go see it. It would be really fun.” Bob Lauson, general manager of Blackmer Grand Rapids, said the company would welcome a visit from its founder’s grandson, to show him the legacy his relative left behind. “We service the world,” Lauson said. “We have 60%, 65% of our business in North America, another 15% to 20% in South America, and the rest is Europe, the Middle East, Africa (and) Asia Pacific. It’s amazing what one guy’s idea for a pump, what that becomes after 100 years.” Although most of Blackmer’s

pumps today are used in the fossil fuel industry, the products are also used to pump hazardous substances; chemicals, such as liquid ammonia; carbon dioxide; and foods, including molasses. The pump has a long history of use in the defense industry, having been used to remove water from trenches in World War I and in the belly of Naval ships in World War II. Bill Blackmer doesn’t know for sure, but he believes his grandfather got the idea for the pump as a young man living in California during the heyday of the mining industry. “In the stuff that we went through after his death, there were telegrams from mining companies extolling the benefits of the Blackmer pump and how they had opened mine passages that had been under water until the invention of his pump,” Bill Blackmer said. Robert Blackmer lived an incredible life, his grandson said. Born in Saginaw in 1861, he left home at the age of 12 to head west, experiencing adventures along the way. One night on his westward excursion, as Blackmer family lore has it, he ran into a lone Native American who was suffering from multiple stab wounds. Not a man of medicine but certainly one of ingenuity, Robert Blackmer heated his saber over a campfire and cauterized the man’s wounds. Around 1881, he stopped in New Mexico. While there, according to family legend, he was with Pat Garrett the night he murdered Henry McCarty — aka “Billy the Kid.”

Whether the tales above are true or fables, Blackmer did eventually reach the Golden State and worked as a scout for the U.S. Army for a while. Some years later, he returned to the Midwest and married Nellie Gilman in 1900, founding Blackmer while starting a family. After selling Blackmer Pump, Robert Blackmer had his second career as an engineer, then maintained his skills after retirement by building furniture without the use of power tools and tending to his

large vegetable garden well into his 80s. “He was multitalented — the most remarkable man you could imagine,” his grandson said. “He was his own person. … I have so many fond memories of him. “Every time I drive down the road and see a 50-gallon drum with a pump attached, I think of Granddad. If he had any idea what became of his pump, his company (and) his dream over 100 years later, I think he would be wowed.”

Firm provides classes on legal, business ethics CONTINUED FROM PAGE 8

for the National Wellness Institute’s Certified Wellness Practitioner designation. In addition to the courses that are taught, Vuletich said they have implemented some “fun” aspects to the program such as dancing, pairing song lyrics with ethical principles or talking about hats, castles and moats. “What I discovered is, there are a lot of songs out there that talk about ethics and illustrate important ethical concepts,” she said. “How much more fun is it to learn about ethics through lis-

tening to a song than listening to Victoria Vuletich give a lecture on ethical principles? Dancing has been scientifically proven to generate oxytocin, which can contribute to better learning and better problem solving and make us feel connected to other people. “You are far more likely to remember something if it’s fun or even funny. I want people to be prepared and remember ethics and carry it around with them in an easy way so that when they are faced with that important decision in the moment those ethics principles will be top of mind and come flowing back quickly.”

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Blackford Capital spreads private-equity wings CONTINUED FROM PAGE 1

experience in Los Angeles and time spent living in Chicago; St. Louis, Missouri; Washington, D.C.; Paris; and Boston. He and his wife wanted to be closer to family as they raised their young children — and they have stayed put ever since. Stein has been busy growing his firm from zero to approximately 30 employees, as well as six operating partners in Michigan, Maine, Colorado, California and Hong Kong. During its existence, Blackford has hired and mentored 120 junior analysts — mostly from Michigan universities — who have gone on to work for well-known entities such as Goldman Sachs, Mercantile Bank, Van Andel Institute and RDV Corp., taking M&A experience with them. The firm has averaged about four-and-a-half acquisitions per year since its inception, and by year’s end, Stein estimates Blackford will be managing $700 million in aggregate revenues. “We’ve got over 300 investors now as a firm, we have deployed just under $200 million in equity capital and done three-quarters of a billion dollars’ worth of transactions,” he said. Back in 2012, Blackford set up the Michigan Prosperity Fund to invest in Michigan-based companies and recruited former Gov. John Engler as its chair, winding

the effort down when Engler left to become president of Michigan State University from 2018-19. In just under six years, Blackford acquired eight Michigan companies, a move Stein said was rare and inspired other PE firms to turn their sights to founder- and family-owned business in Michigan, as well. “When I relocated back here, I remember going to a Business Leaders for Michigan presentation, and they were talking about exactly that: how little investment there is back in Michigan. And we said, well, we’re going to do the exact opposite. We are going to invest in Michigan. And so we did that in 2012, and it was a highly successful effort.” Of those eight Michigan companies, Dickinson Press exited Blackford’s portfolio in 2018 and Custom Profile exited in 2019. Every time the firm has a successful exit, Stein said its credibility and capacity to attract capital grows. During its first four years, Blackford deployed about $20 million of equity, in the past five years, it deployed about $160 million, and this year alone, it’s on track to deploy about $70 million. Stein made the Business Journal’s and The M&A Advisor’s 40 Under 40 lists in 2012 and won Dealmaker of the Year awards from MiBiz in 2013 and 2017. In 2016, The M&A Advisor named Stein Private Equity Professional of the Year and in 2018 named

Blackford Capital the Private Equity Firm of the Year out of all the PE firms across the U.S. Like companies in every industry, Blackford’s ability to proceed with “business as usual” was impacted by the COVID-19 pandemic. It was a “terrible year” for transactions, Stein said, and other than selling one company (Fort Wayne, Indiana-based Ellison Bakery) the firm spent all of its time making sure its portfolio companies were able to survive COVID-19 by shoring up their operations and realigning their cost structures. “(But) it ended up being one of our strongest years we’ve ever had,” Stein said. “… We finished the year in very positive territory for our equity value growth for our companies.” This year, Stein said Blackford expects to close 14 transactions by year-end — far and away its best year ever. In July, the Business Journal reported Blackford hired Steve Feniger, an over 30-year veteran of international buying and supply chain sourcing, as operating partner for Asia. “He has taken a company public on the Chinese stock exchange, he worked with one of China’s largest private equity funds, PAG, in their first fund, and he operates a base of 50 employees out of Hong Kong and Shanghai that we use to support the sourcing activities for Blackford Capital,” Stein

said. What this means, practically speaking, is Blackford can use Feniger’s connections and Asia team to help the firm’s portfolio companies “do better than our competitors on the supply chain” by regular visits to suppliers to ensure timeliness and quality. “We are actually buying companies now with the basis that we’re going to be able to improve their capabilities in sourcing,” Stein said, “and it’s not just China. … It’s Asia broadly. “For example, (Avon, Massachusetts-based) Aqua-Leisure is one of our portfolio companies. We are the No. 1 manufacturer and distributor of aquatic recreational products in the United States, and the business sources from 42 factories over in Asia. Because we have 50 employees that are in Asia, we are able to go visit those factories to make sure that

we’ve got the quality levels and, more importantly now, the service and delivery levels that our customers are requiring. It has allowed the company to grow enormously over time. When we acquired it, it was about $60 million in (annual) revenue, and we’re on a path at the end of next year to be at an estimated $300 million in revenues.” Although Blackford started out with a regional focus, with eight of its 16 platform investments in Michigan and 12 of 16 in the Midwest, its most recent transactions were in Nevada, California and Boston, so it’s expanding its reach. Stein said he expects the firm will continue its focus on U.S. investments only, with supply chain sourcing support from Asia. More information about Blackford Capital is at blackfordcapital. com.

Blackford Capital Statistics 46 completed transactions 200 acquisition opportunities reviewed 2,000 detailed analyses 35,000 reviewed transactions 11 portfolio companies 5 portfolio exits $700 million in revenues under management expected by year’s end 2,000 employees across its portfolio 30 Blackford team members 16 states in which its companies operate Source: Blackford Capital

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CEO mentoring group marks impacts CONTINUED FROM PAGE 3

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portant, perhaps, is the friendship I’ve developed with Russ, who has been a constant sounding board for me as we talked through decisions that helped me grow my company,” Playford said. “I’m excited to be able to give some of that wisdom back to my community by serving as a mentor for an incoming applicant.” While a new mentor is required to commit for three years, many are willing to sign up for additional time because of the experience, personal relationships and success of the mentees, JEM said. For example, Visner and others on the founding board just started working with their fourth mentee. Meredith Bronk is president and CEO of OST, a technology business in Grand Rapids. She has been a part of the JEM program since August 2015, when she was matched with her mentor, Dave Killoran, former president of ODL Inc. “JEM’s leadership program recognizes that each company’s situation is unique, and every mentee brings a different skill set to their new leadership position,” Killoran said. Bronk said being Killoran’s mentee was “the single-biggest contributor” to her growth in her first few years as a CEO. “He demonstrated care for me personally and provided clarity, guidance, challenge and an experienced perspective that I didn’t even realize I needed,” Bronk said. “I knew I could count on him to ask great questions, to point out things that I hadn’t considered and to get me thinking like a CEO.” Bronk joined the JEM board this fall. Scott Lewis is president and CEO of the YMCA of Greater Grand Rapids and one of the first nonprofit leaders to work with JEM in its nonprofit pilot program, which was developed in consultation with Michelle Van Dyke, of Heart of West Michigan United Way, and Kathy Crosby, of Goodwill of Greater Grand Rapids. Lewis’s mentor is Mark Murray, former president of Meijer and Grand Valley State University. Lewis is the first African American mentee in the group Eisentrager as JEM looks to diversify the program and make it more equitable and inclusive. “Even with this being a very different year, it has still been a powerful experience for me,” Lewis said. “There is no playbook but having the experience and perspective from Mark has helped me navigate through complex issues, reaffirm my thinking and decisions and (has) pushed me to think about areas I would not have felt were necessary in the midst of a crisis.” Murray said adding nonprofits to the mix has been an in-

teresting challenge due to how different they are from for-profit businesses. “At a certain scale, many of the issues are very similar — leadership, communication, strategic focus and financial stability are essential in both domains,” he said. Jandernoa and Brandon Eisentrager, executive director of JEM, said the nonprofit pilot is in its second year and besides Lewis, the first group of mentees includes Dennis Van Kampen, president and CEO of Mel Trotter Ministries; Afton DeVos, president of Kids’ Food Basket; and Jessica Johns, co-founder and executive director of The StoreHouse, with likely two more joining in the coming year.

“He demonstrated care for me personally and provided clarity, guidance, challlenge and an experienced perspective that I didn’t even realize I needed.” Meredith Bronk Eisentrager and Jandernoa said the nonprofits they take on need to have at least $2.5 million in revenue and be funded by a mix of sources other than pure fundraising, which eliminates many of the nonprofits in Grand Rapids. “We want to finish this pilot with the nonprofits and hopefully that will be successful, so that will be a piece of our future going forward,” Jandernoa said. Moving forward, JEM is taking steps toward encouraging women and business leaders of color to join the program, including establishing relationships with the West Michigan Hispanic Chamber of Commerce, the Entrepreneur Support Organization, the Grand Rapids Chamber and Start Garden to stay engaged with those who are just starting businesses. It recently offered up its JEM Ambassador group to provide one-year mentorships to the winners of Start Garden’s 100 Ideas pitch competition. Eisentrager said through that, JEM hopes to create a strong pipeline of new and more diverse businesses that eventually make it to multimillion-dollar revenue goals and can enter the JEM program. JEM also is in the process of diversifying its board — which has been the same since the beginning and now has some members preparing to step down. In addition, JEM is working to develop an advisory board made up of younger and more diverse talent from the business community, who are not necessarily CEOs but can help bring a DEI focus to the group. Those interested in joining the JEM program can obtain more information at jandernoamentoring.com or by contacting Eisentrager at (616) 325-2112 or brandon@jandernoamentoring.org.

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GRAND RAPIDS BUSINESS JOURNAL

NOVEMBER 1, 2021

COMMENT & OPINION

GUEST COLUMN Anastasia Wiese

Wine, women and money: sharing financial know-how

n Grand Rapids, just before the pandemic arrived, a small group of women met and carefully broached a taboo topic: money. It wasn’t an easy discussion, sharing salaries, family finances, retirement plans and investments, topics usually considered to be the ultimate in private information. But the insight and encouragement we gained from each other during these sessions about women and money ended up leading to raises and promotions for all.

“I believe that for a woman there is more to financial management than hitting a certain return on investment. It’s about funding a life that has meaning for her.” Anastasia Wiese With 21st century women more and more often responsible for money at home and on the job, we need to build confidence in our ability to steer finances. It’s time for women to pull back the curtains on our financial lives. When women share information about career and finances, goals, hopes, dreams and, yes, fears, we can find crucial support that we need for success. Women and money Research in a 2020 report by McKinsey & Company Financial Services showed that by 2030, women will control much of the wealth being left behind by the Baby Boomer generation — estimated at $30 trillion. In addition,

Boston College’s Center on Wealth and Philanthropy study in 2009 estimated that women will inherit 70% of the money flowing down over the next two generations. Women also are making more money at their jobs. About 6% of women earn $100,000 or more annually. And the number of women business owners went up by 21% from 2014 to 2019, accounting for $1.9 trillion in revenue, according to the State of Women-Owned Businesses Report. Yet, Swiss bank UBS noted in 2019 that while 85% of women control their families’ day-to-day finances, few make long-term financial planning decisions. In the U.S., women and money were legally separated for centuries. While single women and widows had more financial control in early America, it wasn’t until the 1960s that married women were permitted to open their own bank accounts, without their husbands’ names on the account. It was the 1970s before a woman could get a credit card in her own name, without a male co-signer. So, it’s not surprising that even today, women are less confident when it comes to handling money, according to Global Financial Literacy Excellence Center data released in March. Women with financial confidence We need to build confidence in the driver’s seat. How can we do this? By learning, sharing ideas and creating a better support system for women to push for more in their careers. Women need to create safe communities to empower each other’s financial expertise. Friends, relatives and mentors can become financial doulas for each other by learning, sharing ideas and creating a better support system for career management.

I believe that for a woman, there’s more to financial management than hitting a certain return on investment. It’s about funding a life that has meaning for her. Right now, the general consensus is that the financial services industry is falling short of women’s expectations. Why does it take a traumatic experience such as divorce or widowhood for a woman to be put in the driver’s

seat? It shouldn’t. Most of my professional women friends are in control of their household finances and outearn their husbands but are shy to talk about compensation structures or ask for what they want in terms of benefits, compensation or professional advancements. About a year-and-a-half ago, CONTINUED ON PAGE 21

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GUEST COLUMN Rosalynn Bliss

Veteran caregivers are hidden heroes

rand Rapids could not be prouder of the brave men and women in our community who have served our nation, and we are committed to providing our veterans with the support needed to not only return to civilian life, but to live fulfilling, meaningful lives right here in our city. In October, we were proud to open the Grand Rapids Home for Veterans to provide long- and short-term care for veterans. This is a historic milestone for Grand Rapids that was six years in the making. Another critical way that Grand Rapids is committed to bettering the lives of its veteran community is by improving veterans’ care in their own homes. Working alongside the Elizabeth Dole Foundation,

our city is part of a growing list of municipalities joining the Hidden Heroes Cities and Counties program to support and uplift veteran caregivers, and we are proud today to recognize the Elizabeth Dole Foundation’s most recent initiative, the “I Am A Caregiver” campaign. Military caregivers are the spouses, parents, siblings, children, or friends that put their own lives aside to provide daily care for a beloved servicemember at home. Michigan is home to more than 575,000 veterans, and many have returned from the different eras of war, including the war in Afghanistan, with battle scars — both visible and invisible. And veteran caregivers have been there every step of the way, working purely out of love and devotion to provide daily emotional and physical support. This comes in the form of managing prescriptions and doctor’s appointments, advocating for proper care, navigating trauma, assisting with disabling wounds and injuries, and more. There is no doubt that being a caregiver is a necessary and heroic job. On top of that, it also can be isolating, overwhelming, exhausting and all-consuming. Unsurprisingly, this often leads to mental

and personal health challenges for caregivers. And as community members, it is our duty to ensure veteran caregivers feel supported and know that they are not alone in this journey. After all, improving a caregiver’s experience and empowering them will only lead to a healthier, happier veteran and community at large. Through the I Am A Caregiver campaign, it is our goal to empower these crucial caregivers and members of our community to self-identify and help them access the resources and support system that is available to them. Since her husband, Sen. Bob Dole, was hospitalized at Walter Reed Medical Center in 2011, Sen. Elizabeth Dole has been a champion for military caregivers, bringing together caregivers, advocates, Veterans Affairs personnel, and more to break down communications barriers, share best practices, and educate

community leaders, policymakers, businesses and individuals on the issues military caregivers face. We all must continue doing our part to increase awareness and support for our veterans and their caregivers. I hope that the hidden heroes across our state will hear our calls to feel empowered and join our support network to help navigate a post-service life. Veterans returning home, their families, and their caregivers all have made great sacrifices for our country, and they all need to be recognized and supported. Please join me in this effort at hiddenheroes.org. Rosalynn Bliss is the mayor of Grand Rapids. CORRECTION In the Oct. 18 Business Journal story “SxanPro secures medical device patent,” Ashlea Souffrou’s first name was misspelled.

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GRAND RAPIDS BUSINESS JOURNAL GUEST COLUMN Ryan Diepstra

NOVEMBER 1, 2021

GUEST COLUMN Renée Branch Canady

Quantify the risk in your portfolio We are failing our kids

icture this: It is 1981 and you just got married, landed a stable job and found your dream home in the perfect neighborhood. You and your spouse could not be more excited about life considering you just locked in a 30-year mortgage at 16%. What a deal! Just a few months ago, it was 17%, and you just saved $100 per month on your mortgage payment. The next day, you join your parents for a Sunday supper and your old man gives you some financial advice. “Son, make sure you deposit any extra savings into a portfolio of 60% stocks and 40% bonds. If you cannot buy bonds, just go to your local bank and purchase a Certificate of Deposit (CD). Once you have $1 million saved, you should be able to retire comfortably and live on the income that your bonds or CDs pay you while participating in the market gains from the stocks.” Sounds easy, right? Well, those were simple times and it worked well over the past 40 years. Dad had good advice — and, at the time, made sense considering the Dow Jones Industrial Average closed at 875 points that year (compared to 32,500 today as I write this) and the 10-year Treasury note hit an alltime high of 15.84% (compared to 1.5% today). This was during a period where the six-month CD peaked at 17.98% in August 1981. Using that rate, a $400,000 investment paid an investor $35,960 in interest after 6 months. That is not a bad return on investment, and Dad’s advice was hard to argue with. Fast forward to today and you’ve now reached the million-dollar mark in savings. It is time to start thinking about when to retire, and you recall your Dad’s advice about living off the income from the bonds and CDs. Well, the same six-month CD today is averaging around 0.35%. A $400,000 investment into a 6-month CD now

returns only $700. It is a little harder to grow your wealth and retire on that. Combine this bleak computation with the fact that the stock market is at or near all-time highs, and many investors are having a hard time putting 60% of their investments into stocks. This leads to a question that many investors are asking: Where should I park my money for a while until the market settles down? This is one of the most common questions that I receive, and the answer is not as easy as it used to be. Back in the good old days when interest rates were much higher, investors could ladder a portfolio of income-producing securities and provide a 6%, 7% or 8% return. Today, those same types of securities with similar credit quality and maturity dates offer a measly 1%, 2% and 3% return. Additionally, the markets are much more complex and volatile. There are more products and choices than ever. According to CUSIP Global Services, there are more than 60 million financial products globally, including stocks, bonds, mutual funds, ETFs, UITs, commodities, hybrids, structured products, and derivatives — just to name a few. When I get a question like this, I often pose the question with another question: What is your time horizon and risk tolerance, and have you ever quantified it? The answer to the latter question almost always is “no.” This baffles me, because our personal health has been quantified by professionals our entire lives. Why don’t we do this with our personal finances? From the second we are born, nurses are checking vital signs — closely monitoring body temperature, pulse rate, respiration rate and blood pressure. Each annual physical includes a variety of similar tests as well as an opportunity to ask questions of the doctor and discuss any ongoing issues or concerns. If a medical emergency

occurs, we are rushed to the hospital and those same vital signs are immediately checked, and a doctor makes an educated and professional decision whether or not surgery is needed. Our financial health throughout our lifetimes often is a much different experience. Most kids do not talk about cash flow or asset allocation at the dinner table with their families. Schools across the country generally do not teach personal finance. Once we become adults, the topic of personal finance often is foreign. We have a do-it-yourself (DIY) mentality, and key financial vital signs often are misdiagnosed. Unfortunately, many investors make emotional decisions and funds are misallocated based on their own biases or because “that was the way my Dad did it.” Investors have been stereotyped for decades based on their age and put into a box to identify their risk tolerance — aggressive, moderate, or conservative. Fortunately, this qualitative approach has evolved as technology has helped investors define their needs, wants and wishes. Tools have been developed and the evolution of how to quantify risk can be assessed appropriately and a portfolio can go from cookie-cutter to customized. I would suggest working with a financial adviser who can help you identify your risk based on your time horizon — a quantitative way to pinpoint how much risk you want and how much risk you need to take to reach your goals, and how much risk you actually have in your portfolio. Working with a trusted adviser can help guide you to quantify your risk tolerance, as well as ensure you stay on course to achieve your long-term financial goals. Ryan Diepstra is a principal and chief operating officer at Centennial Securities. He can be reached at ryan@centennialsec.com or (616) 942-7680.

GUEST COLUMN Dave Kahle

Instruct teams to prioritize accounts

: I’ve heard you mention several times the importance of prioritizing and targeting customers. Can you shed some more light on this? A: This is a key issue with me, as I believe it is one of the ways to make the biggest, most rapid change in your results. Too much quality sales time and talent is squandered on customers who aren’t worth the investment. If I can help salespeople adjust their investment in time so that they are spending more time on the high-potential customers and less time on others, they’ll see an almost immediate improvement in results. So, over years of trial and error, I have developed a simple but incredibly powerful system for prioritizing and targeting accounts. While I don’t have space here to describe the whole system, I can suggest several things you can do to institute this practice in your

sales team’s routines. First, you’ll need to make sure everyone understands the difference between “potential” and “history.” Too many sales teams prioritize their time on the basis of history. In other words, “A” accounts are those that spent the most last year. In today’s rapidly changing economy, I don’t think it’s wise to make decisions based on the past. A more powerful and useful concept is to make decisions based on the future. So, a high-potential account is one that could buy the most next year, not one that did last year. Set up some companywide definitions. Everyone should understand what an “A” account is. The same goes for “B” and “C” accounts. In addition, there ought to be some standards for how you define each of these. For example, you might say an A account is one that could buy $1 million of your stuff each year. OK, how do you

determine that an account could buy $1 million? Does the salesperson guess? Or do you use some more sophisticated means of coming to that number? In our system, we account for two variables within each customer. First, what is the QPC of each account? QPC stands for Quantified Purchasing Capacity, and is the answer to this question: If this account bought everything they could from me in the next 12 months, how much would that be? After having worked, personally and contractually, with almost 330 individual companies, I am continually amazed at how few (less than a handful) actually collect that information. Doesn’t it seem like an elementary thing that every salesperson should be collecting? The second variable is “partnerability,” which is the measurement of a number of subjective variables, CONTINUED ON PAGE 19

on masks, vaccinations

ur children are a reflection of those who raise and care for them. How many of us have referred to our children as our “mini-me?” How often have we heard or seen our children, or children of our friends and families, parrot what we say, repeat what we do, or behave as they see us behaving? Right now, some Michiganders are behaving badly. October was Children’s Health Month. As CEO of a nonprofit public health institute, my mission is to work to promote health and advance well-being for all. Public health is not political. Public health has historically served the people of this country as a neutral, data-driven resource to protect the safety and well-being of everyone. That includes our children. In September, the Michigan Coronavirus Task Force on Racial Disparities, of which I am a member, issued a series of statements urging school districts to adopt Michigan Department of Health and Human Services recommendations, including universal mask requirements. The task force members come from public office, higher education, foundations, the state’s major health systems and grassroots organizations. Many of them are on the front lines of fighting the pandemic. These volunteers bring with them years of experience, knowledge and a very clear understanding of how the pandemic has altered all our lives. We are nurses, doctors, scientists, researchers, elected officials, community organizers, parents, spouses and more. The task force members have dedicated our lives to the health field and protecting those most vulnerable, including children. Together, we urged school districts to adopt Michigan Department of Health and Human Services recommendations to protect our children from COVID-19. Some are choosing not to trust the public health professionals who have spent our lives serving others. They are choosing not to trust an overwhelming body of research from scientists and doctors. They are choosing not to trust the same people they turn to for help when facing a heart attack or cancer, yet they will not trust us when we ask them to get vaccinated and wear a mask to help us protect our children. It would seem a very vocal minority of Michiganders are misbehaving, and their actions are contributing to preventable illness and suffering among many, including our children. I have watched with disappointment the contentious debates surrounding this matter. As the daughter of a career veteran who served during the Vietnam War and the sister of a veteran West Point alumnus who served during Desert Storm, I take great offense at the weaponization of American principles designed to unite us. The Pledge of Allegiance, the Declaration of Independence,

or chants of “USA, USA” serve no purpose when shouted in attempts to shame, blame or distance us. One of our greatest presidents, Abraham Lincoln, once said, “A house divided against itself cannot stand.” In this seminal speech, he pleaded with us to not let disagreement paralyze and destroy us. Similarly, the words of Jesus of Nazareth challenge us that, “If a kingdom is divided against itself, that kingdom cannot stand.” Now is not the time for division to prevail; there is too much at stake. Our children, often blissfully unaware of politics, will follow the lead of parents, teachers and other adults in the community. What kind of example are we setting for them? Children are adaptable. They are flexible and resilient. And perhaps most importantly, they trust us to keep them safe. We cannot abuse their trust. Quite simply, masks work. Our understanding of universal and standard precautions requires the wearing of masks during surgeries and interactions that could unnecessarily expose people to germs and pathogens, and to prevent the spread of diseases. Masks are a critical part of a reliable line of defense against COVID-19. Masks also help prevent the transmission of cold and flu germs. And yet, even as we enter the second and third months of school, many of our children head into classrooms daily without the most effective protection against COVID that is available to them – a mask. Among the contentious debates I have observed are school boards fighting with principals, parents attempting to arrest public health officers sworn to serve, and city councils at odds with the public health departments they fund to keep residents safe. They argue over public health tools we have used for longer than most of us have been alive: masks and vaccines. It is naïve to think we will simply come together and set aside our differences in this divisive landscape. But we must. If our children can understand the importance of caring for their friends and neighbors, I must believe we can do the same as adults. I must believe we can set the example for them of how to solve a monumental problem with empathy, science and community. Come, let us reason together. We are failing our children. They believe in us. We must rise to their expectations and take the necessary steps — masking and vaccination — to keep them safe or risk losing their trust, and their lives. Renée Branch Canady, Ph.D., MPA, serves as chief executive officer of MPHI, a Michigan-based and nationally engaged nonprofit public health institute dedicated to advancing population health through public health innovation and collaboration. She has over 30 years of public health experience focused on eliminating disparities and fighting for equity at the local, state and national levels.

CONTINUED FROM PA

NOVEMBER 1, 2021

GRAND RAPIDS BUSINESS JOURNAL

County program welcomes immigrants University Club nears centennial CONTINUED FROM PAGE 3

of a larger initiative called Welcome Plan Kent County, which highlights the importance of new Americans and encourages them to stay in Kent County by providing various support services and fostering a welcoming community approach. The Gateways for Growth steering committee consists of members from the city of Grand Rapids, Samaritas, West Michigan Hispanic Chamber of Commerce, and the Grand Rapids Chamber. A task force of more than 35 private and public organizations in West Michigan also has offered time and resources to carry out the mission. Cuevas said Bethany Christian Services and Samaritas, for example, receive immigrants locally and are able to address their immediate needs. From there, they leverage their resources within the welcome plan group and outline what other resources are needed. “We know that long-term, there’s going to be other resources that we’ll need to tap into, but for right now, there’s some essential needs on housing and mental health, clothing and food,” Cuevas said. The efforts of the group are seen as an investment into the community with the goal of not only welcoming the individuals but retaining them here. “We have immigrants that

come here with advanced degrees, with skillsets, and when we look at West Michigan, this is from a chamber of commerce perspective, one of our biggest challenges right now is talent. Not only attracting but retaining talent. So, this is a talent pool that we can invest in right now and welcome into our community and have them see that this is a place for them, as well.” In 2018, Samaritas, the city, Grand Rapids Chamber, West Michigan Hispanic Chamber and The Right Place partnered with the New American Economy Research Fund to compile an economic report of the impact of immigrants specific to Kent County. The report showed immigrants as essential to financial and workforce contributions, and key drivers of population growth. According to the report, immigrants contributed $3.3 billion to Kent County’s GDP in 2016 and held $943.7 million in spending power. They contributed significantly to federal, state and local taxes — $219.4 million federal, $101.5 million state — and were responsible for 24.1% of population growth between 2011 and 2016. Though making up 8% of the county’s population, immigrants represented 9.9% of the working-age population and 9.9% of those employed in the science, technology, engineering and math (STEM) fields. In manufacturing, immigrants comprise 15.1% of the workforce and make

up 11.1% of workers in hospitality and recreation. A similar report in 2018 by New American Economy found immigrants’ spending power in Kent County had increased to $1.1 billion and of the 55,595 immigrants that called Kent County home, 2,031 identified as entrepreneurs. “You know, I think there’s a fallacy, a misnomer that immigrants take away, and we don’t want to look at it as a zero gain here because immigrants are part of what creates a great community,” Cuevas said. “They help enrich the culture of what Kent County is today of multi-colors, multi-cultures and experiences that help the vibrancy of what Grand Rapids is, what Kent County looks like today. “… So, yes, the face of West Michigan continues to change. There’s the demographic shifts, but let’s look at it from an economic perspective. … The immigrants in our community … not only impact the GDP, but even when you’re looking at buying power. We want not only for immigrants to stay here and work here, live here, play here, but also invest. We have immigrants that are job creators, that are innovators. So how can we lean on this diverse experience that is Kent County with immigrants we have from all over the world?” The plan’s initial call to action was for each organization involved to take ownership and

hold themselves accountable for their contributions to the plan. Given the vast resources provided by services and programs offered through the network of welcome plan supporters, however, the group was able to come together to provide the best possible action plan to assist immigrants when and how they need it most. “GRCC, for example, was doing great work in providing training for builders’ licenses in Spanish. So that’s great, but guess what? If you wanted to take the exam at the state level, you could only take it in English. So, what did we do? We leaned on (the chamber’s) governmental affairs team of registered lobbyists and they went to work and a couple months ago were able to get the state to say yes, all right, this makes sense. Let’s go ahead and move forward with the exam (also) being in Spanish.” Welcome Plan Kent County is part of the Gateways for Growth (G4G) national initiative to improve immigrant inclusion and integration across the country. G4G provides research support and technical assistance opportunities for public and private sector organizations to jointly apply for various levels of support. The local effort continues to seek talent, time, resources and investments from businesses and individuals looking to get involved. Those interested can contact Cuevas at omar@grandrapids.org.

CONTINUED FROM PAGE 4

donated during the pandemic to keep the club afloat as its membership numbers dipped. “There’s a lot of skin in the game for the members,” he said. “We want to make sure there’s a reason they’re coming ‘here’ and not going ‘there.’ We want to be part of the community, but this has to be a special place.” Canak has been working to create fun events like blind wine tastings, at the end of which, members can order steeply discounted wines not available anywhere in the city. He’s also met with a committee of young professionals who want to establish a young executives club within the University Club. “We’re going to call it ‘Connecting over Coffee,’ or something along those lines,” he said. Canak said his No. 1 goal in his new position is to apply his experience as a hospitality professional to create an atmosphere of “worldclass” service, food and member experiences that instill a “fear of missing out,” aka FOMO, to help it to grow its membership rolls. “We have an amazing team here, and that’s my commitment to the club and to the members, is to bring them to that next level.”

TINUED FROM PAGE 17

GRAND RAPIDS BUSINESS JOURNAL

Instruct teams to prioritize accounts CONTINUED FROM PAGE 17

all having to do with the likelihood that this account will develop into a significant, committed customer sometime in the future. With those two variables in hand, we can rank every prospect and every customer by their potential. Addressing these issues is the first step, and often can set off lightbulbs in the salesperson’s heads all

“Too many sales teams prioritize their time on the basis of history. In other words, “A” accounts are those that spent the most last year. In today’s rapidly changing economy, I don’t think it’s wise to make decisions based on the past.” Dave Kahle by themselves. Once you’ve created the criteria and definitions, train the entire group in the use of those concepts. Require that, by a certain date, they have analyzed and rated all of their customers. You may even develop some forms, electronic or hard copy, that everyone uses.

This process can also be an eye-opener all by itself. When you help salespeople analyze the potential in their accounts and then examine their accounts from that perspective, you (and they) will be amazed at how much time is spent on accounts that just aren’t worth it. Now, legislate that everyone should spend the largest portion of their time with the A accounts. My rule is 50% of your time is with the A accounts, and 50% of your time with everyone else. Manage the implementation. Every time you ride with a salesperson, discuss it and look for evidence that indicates the salesperson is following through on using the system. Make it an issue in sales meetings and in evaluations. When salespeople actually spent more time on those accounts with greater potential and less time on those with little potential, they discovered a dramatic improvement in their productivity. The reason I have so much material on this subject is that I believe it is one of the key behaviors for sales success. Everyone should be using it. Dave Kahle is an author, consultant and speaker who has presented in 47 states and 11 countries, improved the performance of thousands of B2B salespeople and authored 13 books. Receive his insights on a regular basis here: https:// www.davekahle.com/subscribe-davese-zines/.

NOVEMBER 1, 2021

EXCELLENCE HAS A NEW NAME

Upholding our legacy of innovation, we deliver progressive healthcare to our patients that best serves our community. As part of one of the nation’s top-rated health systems, Metro Health – University of Michigan Health is now University of Michigan Health-West. UofMHealthWest.org

CONGRATULATES CAMERON YOUNG & PATRICK PARKES

CAM ERON YO U N G, former Board President and Current Co-Chair of our Building Opportunities, Creating Independence Capital Campaign

on being named 40 Under 40 Business Leaders! Interested in learning more about our Absolutely Accessible Kent program and making our communities accessible for all? Contact Patrick at 616.949.1100, x222 or Patrick.P@dakc.us dakc.us

PAT RICK PARK ES, Absolutely Accessible Kent Business Coordinator

GRAND RAPIDS BUSINESS JOURNAL

NOVEMBER 1, 2021

ACCOUNTING

Southfield-based Plante Moran appointed Rob Bondy financial institutions practice leader in its Grand Rapids location.

ARTS

The Grand Rapids Public Museum announced the implementation of Aira, an app-based service on the user’s smartphone that connects people who are blind or have low vision to highly trained, remotely located agents in real time to guide them through exploration of the museum at no cost to the visitor.

AWARDS

Professional engineer/stormwater manager for the city of Grand Rapids Carrie Rivette is the recipient of West Michigan Environmental Action Council’s 2021 Heartwell Environmental Legacy Award.

BANKING

Grand River Bank opened a regional banking center at 50 Crahen Ave. for the Ada/Cascade area.

EDUCATION

A pilot program by Hollandbased Hope College and Western Theological Seminary to provide a Christian liberal arts education to incarcerated men at Muskegon Correctional Facility in Muskegon has shown such initial success that the college is now pursuing accreditation for a full Bachelor of Arts Gregory degree. Former Ferris State University staff member and current doctoral student Danyelle Gregory has returned to the Big Rapids campus as Office of Multicultural Student Services director, becoming the third person to lead that Student Affairs division operation. Grand Valley State University associate professor of engineering Lindsay Corneal and Wendy Reffeor, associate professor of engineering, were named fellows in the third cohort of the

NOV 2 Grand Rapids Chamber of Commerce West Michigan Minority Contractors After Hours. 3:30-5 p.m., Grand Rapids Chamber of Commerce. Cost: free. Registration/information: bit.ly/2021AfterHours. NOV 2 OST Epic In The Cloud Webinar. Leveraging cloud services for epic infrastructure that offers cost-savings, faster deployments and simplified infrastructure management. 1-2 p.m. Registration/information: bit.ly/ OSTCloudWebinar. NOV 3 Grand Rapids Opportunities for Women Webinar. Topic is Effective Communication For Uncertain Times. 9-10 a.m. Cost: free. Registration/information: bit.ly/2021UncertainTimes. NOV 3 West Michigan Sustainable Business Forum Lakeshore Green Drinks Networking. 5-7 p.m., Pigeon Hill Brewing. Cost: free, beverages available for purchase. All are welcome. Registration/information: bit.ly/ LakeshoreGreenDrinks. NOV 4 Grand Rapids Public Museum 13th Annual Jay and Betty Van Andel Legacy Awards Gala. Proof of COVID19 vaccination required for in-person attendance; masks required. Cost: $150/person. Registration/information: (616) 929-1736 or kvandoeselaar@grpm. org. NOV 8 Wyoming-Kentwood Area Chamber

Griffin promoted to Kentwood’s PWD director The city of Kentwood promoted Chad Griffin to director of the Public Works Department. Griffin succeeds John Gorney, who in May accepted a position with the city of Grand Rapids as its public works director. Griffin previously served as Kentwood’s building maintenance supervisor. In his new role, he will oversee the city’s Public Works Department functions and staff, which includes maintaining the city’s infrastructure, more than 150 miles of underground pipes and more than 155 miles of streets above ground, as well as Kentwood’s parks and grounds, buildings and fleet of vehicles. IAspire Leadership Academy, a leadership program aimed at helping STEM faculty from underrepresented backgrounds ascend to leadership roles at colleges and universities.

Resource Recycling Inc.’s 2021 Program of the Year Award in the Large City category, which was open to municipalities with 150,000 residents or more.

Catholic Schools of Greater Kalamazoo and Hackett Catholic Prep announced the appointment of Paul Dull as the high school’s principal for the 2021-2022 academic year.

The Kent County Board of Commissioners appointed Commissioner Mandy Bolter to the Grand Rapids-Kent County Convention Arena Authority board, to fill an unexpired four-term term ending Dec. 31, 2022.

The Oakland University board of trustees appointed trustee Joseph “Joe” Jones, president and CEO of the Grand Rapids Urban League and co-chair of the Urban Core Collective, to vice chair of the board.

FINANCIAL SERVICES

Tyler J. Anderson, Nicholas W. Van Loo and Calvin D. Wiersma joined Grand Wealth Management as financial advisers.

FOOD & BEVERAGE

A.J. Mathews, president of West Side Beer, was elected vice-chair of the Lansing-based Michigan Beer & Wine Wholesalers Association board of directors.

FOUNDATIONS

Janessa Smit joined the Hudsonville Education Foundation as its first executive director.

GOVERNMENT

The city of Grand Rapids earned

of Commerce Government Matters Zoom Meeting with Elected Officials. Bring your top issues and interact with policymakers. 8-9 a.m. Registration/ information: 616-531-5990 or michelle@ southkent.org. NOV 9 Family Business Forum Annual FBF Public Event. Learn how Fidelitone transformed its company from a phonograph needle manufacturer to a third-party logistics provider. 7:30-10:30 a.m., Amway Grand Plaza Hotel. Registration/information: bit.ly/ 2021FamilyTransformation. NOV 9 Michigan West Coast Chamber of Commerce Wake Up West Coast In-Person and Livestream. Features Kyle Mayer, superintendent of Ottawa Area ISD. 8-9 a.m., Haworth Hotel & Conference Center, 225 College Ave., Holland. Cost: $35/members in person, $50/nonmembers in person, $10/members livestream, $20/nonmembers livestream. Registration/information: (616) 928-9101 or colleen@westcoastchamber. org. NOV 9 Women In Successful Enterprises 4th Annual Small Sharks In The Big Lake In-Person and Online Event. Nonprofits will “pitch the tank” for funding consideration. 5:30 p.m., Rockford Construction, 601 First St. NW. Registration/information: wiseconnections.org. NOV 10 Grand Rapids Savvy Seniors Learning Series. Topic is Making the Best Decisions in a Sellers’ Market.

GRANTS

The Rotary Club of Grand Rapids Charities Foundation announced a new, one-time grant to six partner organizations that will receive varying amounts totaling the $100,000. Recipient organizations are: In The Image; Cherry Health Foundation (in partnership with The Children’s Advocacy Center); Hand 2 Hand; New City Kids; SuitUp Inc.; and The Fountain Hill Center for Counseling and Consultation.

HEALTH

Holland Hospital’s Boven Birth Center recently received for the third consecutive year Platinum designation for maternal care from the Michigan Alliance for Innovation on Maternal Health. Six Spectrum Health physicians recently received the 2020 Annual Distinguished Physician Society

1-2:30 p.m., Frederik Meijer Gardens & Sculpture Park, 1000 E. Beltline Ave. NE. Cost: free. Registration/information: bit. ly/SeniorSellersMarket. NOV 10 Kellogg Bird Sanctuary Online Birds and Coffee Chat. Discussion will focus on diving ducks, including the Ruddy Duck, Bufflehead, Common Loon and Common and Hooded mergansers. 10 a.m. via Zoom. Cost: free. Registration/information: bit.ly/ BirdChat. NOV 10 The West Michigan Center for Arts + Technology Studio Sips. An adult-only creative night out includes appetizers, drinks and an all-skill-levels watercolor experience. Attendees will be able to take home their autumnal watercolor creation. 6-8:30 p.m., WMCAT, 614 First St. NW. Cost: $55/person. Registration/information: wmcat.org/ studiosips. NOV 11 Grand Rapids Chamber of Commerce Business Exchange Luncheon. 11:30 a.m.-1:30 p.m., Thousand Oaks Golf Club, 4100 Thousand Oaks Drive. Cost: $35/members, $50/nonmembers. Registration/information: bit. ly/2021BusinessExchange. NOV 12 Grand Rapids Public Museum Anishinabe Culture Days. A special, one-day celebration for visiting school groups to learn about the history and culture of the Anishinabe in West Michigan at no charge. 9 a.m.-2:30 p.m. Registration/information: grpm. org/Schools.

CHANGE-UPS & CALENDAR

Awards. The recipients are: Emeritus Lifetime Achievement Award: Larry Robson, MD, vascular surgery; Barbara Wynn, MD, emergency medicine; Jeri Kessenich, MD, pediatric hospitalist; John Visser, MD, neurology; Thomas Wright, DO, family medicine; and Leslie (Les) Wong, MD, hand and microvascular surgery.

LEGAL

Bloomfield Hills-based Plunkett Cooney was ranked No. 275 in a 2021 survey among the 350 largest firms for female diversity in the United States by the National Law Journal, moving up 58 places in the ranking from last year. The firm also was one of the top five in the nation for percentage growth at 16.8% in 2020. Forty-four Warner Norcross + Judd LLP attorneys have been named to the 2021 Michigan Super Lawyers list in the 16th annual publication of the Michigan Super Lawyers Magazine for attaining a high degree of peer recognition and professional achievement. Only 5% percent of the lawyers in Michigan were recognized. Managing partner Douglas A. Dozeman was named to Michigan Super Lawyers Magazine’s 2021 Top Lawyers list for his work in business litigation. Michigan Super Lawyers Magazine named 19 Warner Norcross + Judd LLP attorneys to its 2021 Rising Stars list. The peer-review award requires attorneys to be 40 years old or younger or in practice for 10 years or less. They are selected for attaining a high degree of peer recognition and personal achievement. Fewer than 2.5% of attorneys in Michigan are selected. Attorneys from the Grand Rapids office of Foster Swift Collins & Smith PC were selected to the 2021 Michigan Super Lawyers and Rising Stars lists: Frederick D. Dilley, general litigation and Laura J. Genovich, bankruptcy: business.

LOGISTICS

Reese Van Heck joined Fifth Wheel Freight as chief executive officer.

NONPROFITS

La’Leatha Spillers joined the YWCA

NOV 12 Muskegon Chamber of Commerce Women Transforming the Waterfront Business for Breakfast. Hear from Michelle Harris with The Deck about its transformation along Pere Marquette Beach, Emily Leestma from Adelaide Pointe and facilitator Tamica Fox with the city of Muskegon Heights. 7:15-9 a.m., Folkert Community Hub and Banquet Center, 640 Seminole Road, Norton Shores. Cost: $25/members, $40/ nonmembers. Registration/information: bit.ly/WomenTransforming. NOV 12 St. Cecilia Music Center Folk Series with Rodney Crowell. 7:30 p.m. Cost: $60 (section A); $50 (section B). Registration/information: (616) 4592224 or scmc-online.org. NOV 13 Grand Rapids Public Museum Ethnic Heritage Festival. Features music, art, food, visual presentations and performances from local cultural organizations that will share their background, traditions and connection to West Michigan through colorful performances and engaging activities. 10 a.m.-4 p.m. Registration/information: grpm.org/EHF. NOV 15 World Affairs Council of Western Michigan Virtual Event. Peter Martin of Bloomberg News discusses his new book “China’s Civilian Army: The Making of Wolf Warrior Diplomacy.” Noon-1 p.m. Cost: free. Registration/ information: worldmichigan.org/fall2021. NOV 16 Grand Rapids Chamber of Commerce Diversity and Talent Summit. Speakers

as chief advancement officer and Kelli Langan Pfister took on the role of chief external affairs officer. Lighthouse Immigrant Advocates announced it is growing to better meet community demand for high-quality and affordable immigration legal counsel in West Michigan. In 2020, LIA opened hundreds of new cases, serving clients from 43 different countries. LIA’s legal team reported a 100% approval rate of renewal cases submitted in the past 12 months, including immigration cases to reunify separated families. Warner Norcross + Judd LLP attorney Malaina J. Weldy has been appointed to the board of directors of Affinity Mentoring, which connects children with adults through weekly schoolbased mentoring sessions to children in the Grand Rapids and Wyoming school districts.

RELIGION

Calvin Christian Reformed Church installed 126 solar panels on its roof as it switched to renewable energy. The project is expected to keep 5.4 million pounds of CO2 out of the atmosphere — the equivalent of 7.4 American homes being taken off the grid or the carbon sequestered by 3,000 acres of forest in a year.

Peebles

RESTAURANTS

Joe Peebles joined Garage Bar & Grill in Ada and Graydon’s Crossing as culinary director and executive chef, and general manager,

CHANGE-UPS POLICY: The Business Journal welcomes submissions to the Change-Ups section. Send announcements concerning personnel changes, new businesses, changes of address etc. to Change-Ups Editor, Grand Rapids Business Journal, 401 Hall St. SW, Suite 331, Grand Rapids, MI 49503 or email bjchangeups@grbj.com.

will examine the increasing need for diversity, equity and inclusion in business. 7:30 a.m.-noon, Amway Grand Plaza Hotel Ambassador Ballroom. Cost: $125/members, $150/nonmembers. Registration/information: bit.ly/2021TalentSummit. NOV 17 Acton Institute 31st Annual Dinner Honoring Co-Founder Rev. Robert A. Sirico. 6 p.m., Amway Grand Plaza Hotel. Black tie preferred. Cost: $175/person. Registration/information: bit.ly/2021ActonDinner. NOV 17 Grand Rapids Chamber of Commerce Entrepreneurial Operating System Talks. Topic is An Introduction To The Entrepreneurial Operating System: Providing Simple Concepts and Practical Tools To Help Businesses Produce Real, Permanent Change. 7:45-9:30 a.m., Grand Rapids Chamber. Cost: $25/members, $35/nonmembers. Registration/information: bit.ly/EOSTalks. CALENDAR POLICY: The Business Journal welcomes submissions to the calendar section. Send items to Calendar Editor, Grand Rapids Business Journal, 401 Hall St. SW, Suite 331, Grand Rapids, MI 49503 or email bjcal endar@grbj.com. Submissions must be received at least three weeks prior to the event. The Business Journal calendar posted on the publication’s website (grbj.com) includes listings for events extended beyond those printed in the weekly publication that are limited by space restrictions.

PUBLIC RECORD MORTGAGES

Selected mortgages filed with Kent County Register of Deeds EAST PARIS SHOPPES LP, Voya Investment Management LLC, Parcel: 411811476008, $34,265,000 MCDERMOTT, Terrence et al, Keller Mortgage, Ada Twp., $520,800 CAMPBELL, Alexander et al, Lake Michigan Credit Union, Cascade Twp., $548,250 26 LAKE DRIVE OWNER LLC, First Savings Bank, Parcel: 411432229014, $1,750,000 AIRWEST PROPERTIES LLC, Mercantile Bank, Parcel: 411826276020, $3,570,000 EAST PARIS HOLDINGS LLC, Mercantile Bank, Parcel: 411436365004, $2,650,000 EAST PARIS HOLDINGS LLC, Mercantile Bank, Parcel: 411436365002, $560,000 1515 WEALTHY LLC, ChoiceOne Bank, Parcel: 411429485030, $3,150,000 BLUE RAY CAPITAL LLC et al, Old National Bank, Wyoming, $632,835 8182 BROADMOOR LLC, Lake Michigan Credit Union, Caledonia, $1,772,164 JEFRIK PROPERTIES LLC, Michigan Certified Development Corp., Parcel: 411819406015, $947,000 G.R. INDUSTRIAL PROPERTIES LLC, DBR Investments Co., Parcel: 411820101016, $26,625,000 ALPINE GRM LLC, Community Choice Credit Union, Walker, $1,837,500 BELDEN BRICK & SUPPLY LLC, Mercantile Bank, Parcel: 411324107041, $11,300,000 JUPITER DEVELOPMENT LLC, Protective Life Insurance Agency, Plainfield Twp., $4,000,000 SLACK, Paul et al, Bank of America, Parcel: 412335102001, $402,500 KLEMM, Aaron et al, Zillow Home Loans, Algoma Twp., $400,000 EINFELD, Kevin J. et al, Independent Bank, Parcel: 411411402047, $544,600 LUDTKE, Curtis J. et al, JPMorgan Chase Bank, Parcel: 411905151011, $348,620 CUSTER, Todd et al, Huntington National Bank, East Grand Rapids, $1,330,000 MOORE, Zachary T. et al, Lake Michigan Credit Union, Byron Twp., $850,000 HINELINE, David et al, Benchmark Mortgage, Plainfield Twp., $468,000 LUCAS, James, Lake Michigan Credit Union, Cannon Twp., $479,750 SILVIS, Adam D. et al, Team Mortgage Co., Walker, $421,312 BD & JWS VENTURES, Adventure Credit Union, Parcel: 411701476006, $498,600 BRYCE, Mark T. et al, Independent Bank, Lowell, $520,000 DEVRIES, Luke et al, Macatawa Bank, Parcel: 411431135023, $486,400 BACINSKI, Stephen J. et al, Lake Michigan Credit Union, Byron Twp., $370,500 AGAPIE, Craig D. et al, Neighborhood Loans, Ada Twp., $479,600 LEMON TRUST, PNC Bank, Ada Twp., $408,000 ELLISON, Adam, Northpointe Bank, Byron Twp., $732,555 SEFCIK, Joseph P. Jr., Finance of America Mortgage, Byron Twp., $378,000 WALTERS, Bryan et al, Neighborhood Loans, Plainfield Twp., $512,000 ZIMMERMAN, Brent D. et al, Independent Bank, Cascade Twp., $548,250 LUCZAK, Steven W. et al, MSU Federal Credit Union, Caledonia, $377,000 KING, Adam et al, Neighborhood Loans, Parcel: 411407401040, $371,942 LOWN, Steven J., Old National Bank, Ada Twp., $475,000 KAMPS, Benjamin J. et al, United Bank, Plainfield Twp., $548,250 SHERMAN TRUST, Morgan Stanley Private Bank, Cascade Twp., $516,000 ROBKE, Amber, MMS Mortgage Services, Ada Twp., $360,000 PACKARD, Donald W. et al, JPMorgan Chase Bank, Cannon Twp., $371,800 YANG, Tao et al, United Wholesale Mortgage, Ada Twp., $456,750 GARZA, Bryan et al, Consumers Credit Union, Caledonia, $391,400 KINNE PROPERTIES LLC, Comerica Bank, Parcel: 411429355005, $360,000 UNDERWOOD, Steven et al, Lake Michigan Credit Union, Cascade Twp., $408,000 TULANBAEV, Azizbek et al, Stockton Mortgage Corp., Parcel: 411426252047, $503,500 LAMBARIA, Ramiro III et al, Mercantile Bank, East Grand Rapids, $395,000 BABSON, Billy J., Lake Michigan Credit Union, Plainfield Twp., $377,500 SINGH, Jagdev et al, Loandepot.com, Byron Twp., $392,400 TRUPKE, Kenneth et al, Rocket Mortgage, Grattan Twp., $432,000 MORENO, Erinda et al, Allen Edwin Home Builders, Kentwood, $349,584 KNOBLOCK, Kurt et al, Mortgage 1, Courtland Twp., $350,000 KOOISTRA, Joshua et al, Lake Michigan Credit Union, Parcel: 411413226006, $465,240 KOVACEVIC, Edin et al, Independent Bank, Cascade Twp., $975,000 ROOKUS, Todd A. et al, Northpointe Bank, Parcel: 411401202020, $548,250

GRAND RAPIDS BUSINESS JOURNAL WORDEN, Evan et al, Old National Bank, East Grand Rapids, $354,350 BOUCHER, Henri et al, Mercantile Bank, Plainfield Twp., $436,000 DEEP ROOTS PRODUCE LLC et al, USDA, Caledonia, $440,000 MITCHELL, Craig et al, Lake Michigan Credit Union, Caledonia, $487,500 MYOTT-BEEBE, Stacy et al, Benchmark Mortgage, Parcel: 411436204001, $358,200 MORRIS, Jorgie et al, Federal Savings Bank, Cascade Twp., $360,000 VANNOY, Travis R. et al, Lake Michigan Credit Union, Vergennes Twp., $363,000 MUTAN, Nezar, Finance of America Mortgage, Kentwood, $380,000 REDSTONE LAND DEVELOPMENT LLC, United Bank, Sparta, $397,500 MCCLEAREN, Jason et al, Mortgage 1, Walker, $380,000 MABIE, Ryan et al, Lake Michigan Credit Union, Ada Twp., $640,000 KRISHNAN, Reena, Lake Michigan Credit Union, East Grand Rapids, $370,405 CAHILL, Benjamin et al, JPMorgan Chase Bank, Parcel: 411434451003, $1,085,000 BHATIA, Pulkesh et al, Consumers Credit Union, Ada Twp., $537,000 OFIELD, Timothy J. et al, United Wholesale Mortgage, Vergennes Twp., $445,000 FERRARY, Eric M. et al, Rocket Mortgage, Byron Twp., $360,000 HUNNEWELL, Thomas G. et al, Lake Michigan Credit Union, Cascade Twp., $390,000 KUTZLI, Trevor M. et al, Benchmark Mortgage, Algoma Twp., $415,000 ANDERSON, Cory L., Lake Michigan Credit Union, Plainfield Twp., $487,500 KELLER, John F. et al, Huntington National Bank, East Grand Rapids, $900,000 BOVIA, Bryan et al, Pennymac Loan Services, Byron Twp., $456,000 5397 7 MILE RD COMSTOCK PARK LLC, ChoiceOne Bank, Alpine Twp., $500,000 RIESNER, Eric M. et al, Anderson Financial Group, Ada Twp., $358,000 BERCU, Marian M. et al, Lake Michigan Credit Union, Parcel: 411411477053, $548,250 PLASENCIA, Estefany et al, Allen Edwin Home Builders, Parcel: 411834300030, $404,999 BARDEN ASSOCIATES IV LLC, Baker Trust, Parcel: 411825151015, $575,000 LAMBARIA, Ramiro III et al, Mercantile Bank, East Grand Rapids, $1,125,985 WALSH, Timothy M. et al, Meijer Credit Union, Algoma Twp., $472,000 VANSPRONSEN, Justin J. et al, Old National Bank, Vergennes Twp., $348,750 RUSSELL, Jason et al, Huntington National Bank, East Grand Rapids, $924,000 HOLBEN, Joseph et al, Pennymac Loan Services, Parcel: 411720327007, $517,500 MASK, Steven L. et al, Lake Michigan Credit Union, Algoma Twp., $408,000 KOOISTRA, Matthew A. et al, Private Mortgage Wholesale Inc., Ada Twp., $460,000 NEUENFELDT, Gregg, Hall Financial, Byron Twp., $475,000 ANDERSON, Bradley J. et al, Mercantile Bank, Cascade Twp., $373,000 LUTZ, Russell G. et al, Lake Michigan Credit Union, Cascade Twp., $542,500 DRAKE, Deniz D. et al, Rocket Mortgage, East Grand Rapids, $346,500 BOADO, Joemar T. et al, Lake Michigan Credit Union, Cascade Twp., $404,000 KONDA, Abhishek et al, Strong Home Mortgage, Parcel: 411425251012, $440,000 KAMINSKI, Michael T. et al, United Wholesale Mortgage, Parcel: 411414127017, $440,000 KINNE PROPERTIES LLC, Comerica Bank, Parcel: 411429355005, $360,000 PATANICZEK, Charles C. et al, Rocket Mortgage, Plainfield Twp., $370,000 SUTTON, Erika J. et al, Rocket Mortgage, Caledonia, $444,000 SIMON, Benjamin C. et al, Lake Michigan Credit Union, East Grand Rapids, $500,000 SZYPERSKI, Jonathon et al, Lake Michigan Credit Union, Caledonia, $380,000 SCHERMER TRUST, Huntington National Bank, Byron Twp., $520,000 GOLM, Robert C. et al, United Bank, Byron Twp., $450,000 LAMPHERE, Timothy et al, Consumers Credit Union, Caledonia, $465,000 SEVEN SIX PARTNERS LLC, United Bank, Byron Twp., $1,888,000 WILCOX, Keith A. et al, Wintrust Mortgage, Parcel: 411426226010, $350,000 MCLOSKY, Jamie, United Wholesale Mortgage Group, Parcel: 411324453177. $370,000

PUBLIC RECORD AVAILABLE ONLINE: For the full version of this week’s Public Record, visit the Grand Rapids Business Journal’s website at grbj.com.

NOVEMBER 1, 2021

PNC survey shows record small business optimism CONTINUED FROM PAGE 3

bubble of the mid-2000s, housing prices are well above that,” he said. “That’s a driver of household wealth and consumer spending power that does not provide the same support to household balance sheets in parts of the country where the housing market lagged after the Great Recession.” He conceded the flip side of the housing market good news is historically low supply, a problem that is still pricing many out of the market, but he believes that as the pandemic comes under better control, older individuals who were holding off on selling their single-family homes and downsizing may do so, easing the pressure on inventory somewhat. Adams added another pain point on the housing market — supply chain issues — could soon resolve as the “abnormally high” demand for goods seen during the pandemic, when consumers were stuck at home, is redirected toward demand for services, such as eating out or traveling. “That’s going to relieve some of the stress on supply chains, and that’s when I expect to see supply chains recover generally, including supplies for construction materials,” he said.

Different operating environment Many businesses have made permanent changes to the way they operate since the pandemic, according to the PNC survey. Nearly half (47%) had employees shift to remote work due to the pandemic, and among those businesses, 42% have returned fully to in-person work, with another 17% expecting to transition their workforce back eventually. Many anticipate more permanent changes, with 25% saying they will transition to a mix of virtual and in-person, while another 9% will provide employees with the opportunity to choose where they work. “The pandemic will have far-reaching impacts on small businesses,” Faucher said. “In addition to higher inflation and disruptions in production and labor markets in the short run, the relationship between businesses and employees has changed. But over the long run, the economy will fully recover, benefiting small businesses and, ultimately, the workforce.” Other key findings include: •Hard to hire: Of those business owners who are hiring and experiencing challenges, 58% cited enhanced unemployment compensation benefits as the root cause (federal enhanced unemployment benefits expired Sept. 5, after the

survey ended), with 55% citing worker concerns about workplace health and safety, 45% saying workers’ priorities have changed, and 45% saying workers are demanding higher pay. •Inflation pressures: 54% expect to raise their own prices over the next six months, a high in PNC’s 19-year history of conducting the survey. Thirty-six percent expect the hikes to be substantial: 5% or more. Forty-two percent say they are increasing prices in response to favorable market conditions (52% of service industry businesses), but 33% cite higher nonlabor costs, and 25% cite higher labor costs. Non-labor costs are a more prominent factor in the manufacturing (45%) and construction (42%) sectors. •Pricing pressures: Some of the pricing pressures are coming from anticipated supplier price increases; 46% expect supplier price increases, little changed from spring (43%). Expectations for supplier price increases are higher among the manufacturing, wholesale/ retail and construction sectors. These pricing dynamics have led to higher inflation expectations. Eight in 10 respondents expect increased consumer prices this year, and most (62%) expect the rise to be 3% or more; 38% expect a jump of 5% or more, a survey high.

Food waste composting gathers steam CONTINUED FROM PAGE 13

•Vermicomposting: The product of earthworm digestion and aerobic decomposition using the activities of macro- and microorganisms at room temperature. Vermicomposting, or worm composting, produces a rich organic soil amendment containing a diversity of plant nutrients and beneficial microorganisms. •Anaerobic digestion: An enclosed engineered digester system that goes through a series of biological processes in which microorganisms break down biodegradable material in the absence of oxygen. •Rapid thermophilic diges-

tion: An aerobic digestion system where microorganisms inside the waste break down with the presence of oxygen from the atmosphere. The system consists of two key components: proprietary enzymes and a digestor. The system creates an accelerated degradation process to break down complex organic compounds into simpler organic matter. •Construction and demolition waste recovery (C&D): Recovering, sorting, processing and aggregating materials used in building or demolishing roads, bridges, housing, etc. C&D debris includes steel, wood products, drywall and plaster, brick and clay tile, asphalt shingles, concrete and asphalt

concrete. C&D is not included in municipal solid waste. •Biochar: Involves heating biomass (thermal decomposition), usually from pyrolysis or gasification, with little or no oxygen in order to drive off volatile gasses, leaving carbon behind. Biomass waste materials appropriate for biochar production include field crop and processing residues such as nut shells, fruit pits, bagasse, etc. It also includes wood from construction/demolition, yard, food and forestry wastes and animal manures. Fertilized (charged) biochar can be mixed with compost to add a slow release of nutrients and to increase water-holding capacity for soils.

Wine, women and money: sharing know-how CONTINUED FROM PAGE 16

two of my closest friends and I broached the subject. We had an open conversation about topics such as on-the-job earnings, saving for retirement and how to position ourselves during annual reviews. It was so insightful and encouraging. Each of us, when we talked about raises, for example, would make excuses; that’s when the others rallied around, saying, “You are worth it. Ask for that raise, state what you want and what would make you happy.”

Wine, women and money Writing for CNBC.com, financial journalist Alicia Adamczyk described the “Money Salon” she conducted in early 2020 over snacks and wine with a few close women friends. While they didn’t resolve each and every issue, just freely discussing money was a good experience, she reported. How to assemble your own “Money Salon?” Adamczyk shared these ideas: •Invite just a few friends who are comfortable around each other, and who can be trusted — and

agree — to keep private information private. •Set expectations ahead of time. Make this a “judgment-free zone.” •Have a list of specific topics to discuss, but let the conversation flow naturally. •Ask questions. •Be open to new perspectives. Why isn’t there more of this? There needs to be. Anastasia Wiese, JD, CFP, is senior financial adviser with Grand Wealth Management.

GRAND RAPIDS BUSINESS JOURNAL

NOVEMBER 1, 2021

A new day in the sun Low-cost medicine.

ichigan’s two largest energy providers came together last week to launch a program dubbed “MI Community Solar,” a first-in-thenation education campaign to promote the efforts of large and diverse communities of Michiganders going solar together. The project is designed to educate Michiganders about existing and future opportunities to participate in renewable energy programs through a regulated and shared energy system. The MI Community Solar public education campaign will include experts from DTE Energy and Consumers Energy telling the story of their historic voluntary investments being made together by a statewide community of solar subscribers, growing Michigan’s green energy future and offering everyone the same opportunity to go solar together. Together, Michigan’s utilities are investing billions of dollars into new community solar projects over the next few years, with more in the pipeline. MI Community Solar programs, such as DTE’s MIGreenPower offering in southeast Michigan and Consumers Energy’s Solar Gardens in three locations throughout Michigan, including Grand Valley State and Western Michigan universities,

BUSINESS JOURNAL STAFF

allow Michiganders to use clean energy for a few dollars a month. “MI Community Solar is an inclusive, equitable approach to building a community of solar participants, powered by all of us and supporting a greener future for Michigan,” said Sarah Nielsen, executive director, transportation, renewables and storage, at Consumers Energy. “We’re also building sustainable communities by supporting good union jobs going to local workers — because we must ensure that the transition to a green economy is just, and that workers are not left behind.” Michigan’s energy companies are focused on innovating to support customer preferences and driving the future of clean energy investments. In recent years both companies have made significant across-the-board investments to strengthen climate resiliency and offer new opportunities for customers to participate in sustainable options to drive a cleaner, greener future for Michigan’s power. “MI Community Solar is not just about the great work we’re doing today to build communities of solar users; it’s about more solar projects to come from DTE and other Michigan energy companies,” said Brian Calka, director of renewable energy solutions at

DTE Energy. “Non-regulated local energy projects have the potential to drive higher costs to Michigan consumers. We are also moving at a much faster pace gaining economies of scale that can’t be replicated in the private market.” The program will highlight how Michigan’s leading energy companies are investing in community solar projects, building some of the Midwest’s largest solar parks and increasing renewable energy access to traditionally underserved communities. Cat’s meow Two Grand Rapids brothers have a hand in developing a dating app specifically for cat-lovers. Tabby is a dating app developed by Emberly Digital, a web and software development company founded by brothers Cameron and Collin Versluis out of Grand Rapids. About Tabby, the Versluis brothers said they’re “proud to have our pawprints all over it.” And if things went well over the weekend, they’ll have a lot more to be proud of. As part of National Cat Day on Oct. 29, the creators were scheduled to appear on ABC’s “Shark Tank” and make their pitch for substantial investment in the project. “Cat-lovers want to cut to the

chase and find someone who is compatible with their cat-forward lifestyle,” said Leigh Isaacson D’Angelo, co-Founder and CEO of Tabby — The Cat Person’s Dating App, and Dig — The Dog Person’s Dating App. “No matter what (happened) on ‘Shark Tank,’ we’re excited to tell the world we’re not kitten around. We’re here to help cat-people find love.” The Versluis brothers are chief technical officers on the Dig app, too. According to Tabby’s executive team, the time is right for a catthemed app with the following research in mind: •One in five relationships now start on dating apps. •More than 30% of American adults have tried online dating. •Dating apps are the second-most popular way for heterosexual couples to meet, and it’s the most popular way for homosexual couples to meet for committed relationships. •The niche dating app market is growing fast because people want to find someone they know they have something in common with right away. More than half of all single Americans are pet owners. When in need The Michigan Cannabis Manufacturers Association board unanimously passed a resolution that encourages its members to create programs to offer cannabis products at low or no cost to patients who are severely ill or have terminal illnesses. Each member company will determine whether, when and how to implement individual programs in their re-

STREET TALK tail locations. “Just like any other form of medicine, patients with cancer and other severe or terminal illnesses deserve to know their cannabis has met the highest standards for testing, tracking, licensing and safety — and our members’ products do just that,” said Stephen Linder, MCMA executive director. “Michigan’s patients rely on cannabis as medicine and deserve to know where their cannabis comes from and what’s in it. We encourage our member companies to assess the specific needs of these patients in their communities and help ensure they have access to safe, tested cannabis products.” The MCMA program follows the lead of the pharmaceutical industry to make sure patients in greatest need are able to obtain medicine that is tested, labeled, tracked and licensed. Linder said the program reflects key components of the bipartisan Michigan Cannabis Safety Act, which helps ensure all patients and consumers in Michigan have access to cannabis products that are tested, clearly labeled, tracked and licensed. The MCMA resolution reads, in part: “The membership of the MCMA is committed to making sure that patients and children with chronic illnesses such as cancer, auto immune diseases, autism, and many other chronic or terminal illnesses should have access to safe, tested and cost-effective medical cannabis products.” While the association support the resolution, it will be up to individual distributors to determine participation and pricing.

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