Traverse City Business News - October 2024

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SSB HEADQUARTERS NOW OPEN

State Savings Bank’s new Traverse City office is now open at 862 Garfield Ave. The three-level, 17,575 square-foot facility serves as the bank’s principal office, including full-service banking, mortgage and consumer lending, and administration and operations teams totaling more than 50 employees. The bank is maintaining its current branch location on Front Street in downtown Traverse City. The new retail branch is run by Jim Richardson, who brings 27 years of management experience to his position. Richardson has also been promoted to regional manager for Traverse City and Suttons Bay.

LUCKY JACK’S SOLD

Lucky Jack’s - previously Timber Lanes - has closed its doors after owner David Mohrhardt and family sold the property on Garfield Avenue to the Serra Automotive Group. Mohrhardt, who is retiring, and his family operated Timber Lanes Bowling for decades on U.S. 31 next to Meijer in Traverse City. After closing that site in 1998, the family purchased Wildwood Bowling Center on Garfield and reopened it as Timber Lanes, later rebranding to Lucky Jack’s.

TC’S ATLAS RAISES $15M

Traverse City-headquartered ATLAS Space Operations, a provider of ground station services for satellite communications, recently announced it has raised $15 million in its latest growth investment round led by space-focused private equity firm, NewSpace Capital. ATLAS’ services support a range of missions across the commercial, civil and defense sectors. Company CEO John Williams said NewSpace Capital’s expertise in the space industry will accelerate the company’s expansion in the U.S. and internationally.

TILECRAFT CHANGES HANDS

TileCraft, located on Trade Center Drive in Traverse City, is under new ownership. Kyle Fussman, owner of Kyle’s Custom Tiles in Petoskey, purchased the business from founder Dale Censer, who retired after 38 years. Censer grew the business from solely a tile-based operation to include natural stone, hardwood, luxury vinyl planks, countertops and more. Fussman said the entire team will remain on staff under the new ownership, with plans to incorporate new design ideas and products.

EARTHLY AFTER LAUNCHES PET SERVICE

Earthly After, an innovator in eco-friendly memorialization and holistic grief support, recently announced the launch of its pet memorial service. The service allows owners to honor their companions in natural settings, including the Sleeping Bear Dunes National Lakeshore. Earthly After, founded by Jamie Kramer, also recently received $80,000 in resources, including a $20,000 cash investment, as part of its participation in Michigan State University’s Conquer Accelerator Program.

OPENINGS AROUND TOWN

Nico’s Pizza & Grinders recently opened in the former Mancino’s West Bay location on West Bay Shore Drive in Greilickville, serving up pizza, grinders and more. The company also has a location in Kalkaska. Pizza franchise Cottage Inn Pizza – headquartered in Ann Arbor – is coming to northern Michigan with a new Traverse City location at 822 East Front St. Indoor go-kart racing center K1 Speed has started operating in the Cherryland Center, offering high-powered electric go-karts, an arcade, two private event rooms, and a café called the Paddock Lounge with food and drinks. Also in the Cherryland Center, the Traverse City Philharmonic – formerly the Traverse Symphony Orchestra – has officially moved into its new home in the former Kmart building.

APPRENTICESHIPS TO GROW WORKFORCES

Northwest Michigan Works!, in a partnership with Pro Image Design and World Magnetics in Traverse City, has launched four new apprenticeship

State Farm Bloomington,

ENVIRONMENTAL STEWARDSHIP AWARD

PRESENTED BY KEEN

OVERVIEW

ELEV8 Climbing Gym is reaching new heights in sustainability with the addition of solar!

Customer Incentives Award:

40% USDA/REAP Grant

30% Tax Cradit

YEARLY KILOWATT HOURS AVOIDED:

34,387kWh annual production

SAVINGS EQUIVALENT TO:

2,742 gallons of gasoline consumed 24 Metric Tons of Carbon Dioxide (C02)

It was a great pleasure to work with KEEN on our solar project! They were informative, knowledgeable, respectful, interested and thorough. Their company culture shines through All of our interactions with their entire crew were positive and friendly. Navigating the entire process, from concept to completion, was a breeze, and they assisted with the grant application. We now get to enjoy lower energy bills and knowing that we are minimizing our carbon footprint!

~ Kevin Vlach

training programs. Pro Image Design’s sign erector apprenticeship program combines on-the-job learning along with instructional courses. World Magnetics is launching CNC, mold setter and drafter apprenticeships. The company will provide on-the-job learning with curriculum provided by Northwestern Michigan College. Registered apprenticeships are certified through a partnership with the U.S. Department of Labor and are a method for employers to build a talent pipeline of highly skilled, educated employees. Northwest Michigan Works! provides technical assistance and administrative support for registered apprenticeships, including development, implementation and program management.

NEW: GLCM’S CURIOSITY PLACE

The Great Lakes Children’s Museum (GLCM) recently announced its newest chapter: the opening of The Curiosity Place powered by GLCM at the Grand Traverse Mall in Traverse City. This move marks a significant step forward for the museum as it transitions from its longtime location in Elmwood Township to make room for the new Freshwater Research & Innovation Center. The Curiosity Place will have expanded gallery space, as well as doubled program spaces. The new location will be ready to welcome visitors this fall. The GLCM is still planning a permanent home.

CRSC ADDS PAIN MANAGEMENT TREATMENTS

Copper Ridge Surgery Center in Traverse City is expanding its services with the addition of comprehensive pain management solutions led by Dr. Richard Burke. The state-of-the-art procedures address a range of conditions, including diabetic foot neuropathy, spinal stenosis, and chronic pain.

SUPPORT FOR ENTREPRENEURS

The Huntington Bank Foundation has granted $20,000 to Venture North Funding and Development in Traverse City, continuing its support for the organization that has made 183 low-cost commercial loans and dedicated 9,300 hours to no-cost consulting to support the growth of the region’s small businesses. “We are so appreciative of our longstanding partnership with Huntington Bank,” said Venture North President Laura Galbraith.

PAVILIONS EARNS ‘EXCELLENCE’ AWARD

The Grand Traverse Pavilions recently was honored with a Governor’s Award of Excellence for its achievements in improving the quality of healthcare at the facility. The staff achieved the milestones required for the award including increasing influenza vaccination rates and

increasing COVID resident vaccination up-to-date rates.

$250K FOR CLIMATE LENDING

Northern Initiatives , a regional nonprofit lender, has been awarded $250,000 to help entrepreneurs throughout Michigan become more climate resilient.

The grant, from the Opportunity Finance Network’s Financial Justice Fund, is part of a drive to increase climate lending across the country, and Northern Initiatives is using the funds to create a climate lending strategy.

“We’re using the funds to learn, train and support our staff, and understand what our customers need to stay on top of climate-related changes to their businesses,” said Elissa Sangalli, president of Northern Initiatives.

‘INNOVATOR AWARD’ FOR CANCER CENTER

The Association of Cancer Care Centers recently recognized Munson Healthcare’s Cowell Family Cancer Center (CFCC) with the Innovator Award for pioneering achievements in improving access, quality and value in cancer care delivery. The CFCC is being honored for implementation of a Bispecific T-Cell Engager Therapy Program. Bispecific therapy activates the immune system to recognize, target and attack cancer cells, reducing harm to surrounding tissue compared to traditional chemotherapy. This is currently FDA-approved for multiple myeloma, several types of non-Hodgkin’s lymphomas and select solid tumors. Other cancers appropriate for this treatment are currently in clinical trials.

BAR SERVICE LAUNCHES Mandy & Marlee Mobile Bars, northern Michigan’s newest mobile bar service, is now up and running. Founded by Sarah Boozer and Courtney Lorenz, Mandy & Marlee Mobile Bars is a dry hire (drink services hired separately) fleet of mobile bars, offering versatile and personalized mobile bar solutions for events. More information at mandyandmarlee.com.

“Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” –Benjamin Franklin in a letter to Jean-Baptiste Le Roy, 1789

Certainty. From a business perspective, it is an essential element of good public policy. Can we have some assurance that the rules of the road are not going to change the moment a different political party is in control? Can we count on a law not changing in the next legislative session – or the one after that?

According to a recent survey by Business Leaders for Michigan of CEOs across Michigan, three-quarters of Michigan’s top executives expect Michigan’s economy to be stable over the next six months. However, they also feel that long-term growth, our economic future, will be hampered by barriers related to state policy. With the election right around the corner, business and community leaders need to focus on what is at stake, what policy decisions are being made and who is making them. Your vote matters to our economic future. That’s a certainty. So let’s cut through the ads, mailers and robo texts and focus on a few local, state and federal issues that will be decided this fall and how positions on these issues matter to our economic future.

Local (City of Traverse City Residents): Vote no on Proposals 1 & 2; we can’t afford it!

• What’s certain is that Tax Increment Financing (TIF) is a tool we cannot afford to lose.

• When we have utilized Brownfield TIF to redevelop the Commons or complete the Boardman Lake loop, we are making investments that have a 49:1 economic return and are fundamental to our economic future.

EDITORIAL & BUSINESS OFFICE

P.O. Box 4020

Traverse City, MI 49685

231-947-8787

ON THE WEB

tcbusinessnews.com

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Luke W. Haase

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Gayle Neu gneu@tcbusinessnews.com

HEAD WRITER

Craig Manning

COPY EDITOR

Becky Kalajian

Our economic future is on the ballot and that’s a certainty

• When we use Downtown Development Authority TIF to replace bridges, build a civic square or farmers market, we are using the regional tax base to pay for public infrastructure, again essential to our continued growth and prosperity.

• The Takeaway: Voting “No” on Proposals 1 & 2 provides certainty for TIF as the only regional tax tool we have and an essential element in our economic future.

of hours required under the Act.

•Add a small employer exemption.

•Require notice be made by an employee prior to a shift start.

•Leave enforcement and penalties to the state.

•Allow employers to frontload time off, maximizing employee flexibility.

•These policies are supported by a broad coalition of groups from across the

It is critical in the final month of this election season that we educate ourselves about these issues and call on policy makers to recognize the importance that certainty plays in public policy and the sustainability of our regional businesses.

State: Legislation is needed to provide certainty on The Earned Sick Time Act (ESTA)

• With the Michigan Supreme Court’s decision on mandatory paid sick leave, the state legislature has an opportunity to soften the blow to employers and workers before the law takes effect in February 2025.

• Without action, these government mandates would force employers of all sizes and types to rethink their existing paid leave policies.

• The act extends sick leave to all types of employees and contractors in addition to micromanaging leave policies and allowing for costly litigation against businesses for noncompliance.

• So, what can the legislature do?

•Exempt employers with paid sick leave policies that meet or exceed the number

CREATIVE DIRECTOR

Kyra Cross Poehlman

CONTRIBUTING WRITERS

Ross Boissoneau

Art Bukowski

Kierstin Gunsberg

Rick Haglund

WEB PRODUCTION: Byte Productions

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Village Press

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Gerald Morris

SERVING:

Grand Traverse, Kalkaska, Leelanau and Benzie counties

state including the Michigan Retailers Association, Business Leaders for Michigan, Small Business Association of Michigan, Traverse Connect, Michigan Health and Hospital Association, Michigan Realtors, and many others.

The Takeaway: Michigan businesses need certainty that only the state legislature can provide, and we call on the legislature to make these changes to the Earned Sick Time Act before the end of the year.

Federal: Major policies are on the horizon - choose wisely

As we look to federal policy issues, ones with the biggest impact confront a new president and new members of the U.S. Senate and House.

• The Debt Limit: Suspended since 2023, the Debt Ceiling will be reinstated Jan. 1, 2025, at which point without Congressional action, the Department of the Treasury will have to implement a variety of accounting maneuvers to temporarily keep the government from defaulting on its debt.

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• The Affordable Care Act Tax Credit subsidies: Following a three-year extension, the enhanced subsidies for people buying their own coverage on the marketplace will expire in December of 2025. There are currently 13 million subsidized enrollees who receive approximately $700/year in support for the purchase of their health insurance.

• Trump Tax Cuts: Passed in 2017, the 2017 Tax Cuts and Jobs Act includes tax cuts for corporations and business owners as well as individual tax payers. Many of these provisions will expire in December of 2025.

The Takeaway: Our federal elected officials will have a lot to tackle when they get to Washington in January and who we vote into office will matter.

It is critical in the final month of this election season that we educate ourselves about these issues and call on policy makers to recognize the importance that certainty plays in public policy and the sustainability of our regional businesses. Speak up, speak loudly and speak often. Our economic future is on the ballot and that’s a certainty.

Gabe Schneider is the principal at Northern Strategies 360, a government relations consulting firm founded in 2015. Northern Strategies 360 helps clients navigate local, state and federal legislative and regulatory issues and advocates on their behalf in Lansing and Washington, DC. Schneider was recently recognized by the Traverse City Record Eagle as a Leader of Northern Michigan 2024 and was previously recognized on the Traverse City Business News “40Under40” list of the most influential people in the region.

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FROM THE DESK OF...

Heather Smith, general manager of Dave’s Garage

By Art Bukowski

Heather Smith is general manager of Dave’s Garage, an auto repair shop that specializes in imports (though they service domestic vehicles as well). We’re thankful to her for showing us around her desk! If you have an idea for a future From the Desk Of feature, please email abukowski@tcbusinessnews.com.

1. I use this lacrosse ball to relieve aches and tension. I sit here and get tense, and I get kinks in my shoulders all the time. So I rub up against the wall like a cat with the ball between me and the wall.

2. We get a lot of thank you cards from customers, and one even brought us this maple syrup. She’s done it twice now, and it’s wonderful. And we just got a thank you card and lunch from another customer. It’s a nice little reminder that even on the bad days, we are doing a lot of things right.

3. These say “Focus on the Outcome” and “SSSW” which means small steps, small wins. I’m always trying to remind my team to not get complacent. We do a lot of things well, but we always want to be doing better.

4. I’m an avid tea drinker. You will almost always find a cup of tea on my desk. I’ll make coffee at home, but it’s tea here.

5. This here is the motherboard. It’s a program called Shopware. I see all my technicians, what they’re working on, the customers’ information. It’s a pretty slick program.

6. It says ‘mindset is everything.’ My office assistant got me that board. It’s a good reminder. You come into the shop, and you have long days telling people what’s going on with their cars, and people can be stressed. So starting your day with the right mindset is really, really important. And I’ll change that every once in a while and put a different positive thing I want to say on there.

7. I’m always, always using my planner. I’ve got two sons, and while I’m a mom at home, everyone here also calls me mom. Two boys and eight kids out there, too. I keep everyone scheduled and on track.

8. This is a photo of me with coworkers Brandon and Danielle, who run the show up front. We’re always messing around and having fun. Being a small shop, this is family. We’re with each other sometimes more on average than we are with our family at home. It’s really important that we hire the right people.

Six ways retirees are affecting the Grand Traverse region BOOMER BOOM

By Craig Manning

Beaches, boats, golf, wine, sunshine. These are just a few of the draws that have helped make Traverse City and the broader Grand Traverse region the most popular destination for retirees in Michigan. While local retirees don’t necessarily live here year-round – often trading the area’s cold winter weather for the warmer climates of places like Florida or Arizona – they undoubtedly have a massive impact on the regional community, economy and environment. Some of those impacts are predictable, like the way retirees skew Traverse City’s demographic statistics. Others are less explored, like how thoroughly older adults dominate the local volunteer force.

This month, in honor of our area’s retirees, the TCBN takes a look at six distinct ways in which retirees are totally changing the narrative of how Traverse City operates.

1.

They change our demographics

On average, the Grand Traverse region skews older than other parts of the state. According to 2022 Census Bureau data, the median age in Grand Traverse County is 43.1, compared to 40.1 for Michigan as a whole. Some local counties skew even older, like Leelanau County, which has a median age of 55.2.

Roughly 21,000 people, or 22% of Grand Traverse County’s 96,500-person population, is 65 or older, compared to just 18.7% for the state as a whole.

The region has also gotten dramatically older in the past decade: As of the 2010 Census, just 12,886 Grand Traverse County residents fell into the 65-and-over demographic – about 14.8% of the population at the time.

Local demographics are poised to skew older and older in the years to come, based on the number of people in the area who are nearing retirement

age. Per Census data, the three biggest five-year age ranges in the county, based on population, are 55-59 (7,336 people), 60-64 (7,057 people), and 65-69 (6,271 people).

Only one other age bracket tops 6,000 residents in Grand Traverse County: 30-34, which boasts 6,185 people.

2. They drive growing needs for in-home care and senior living

With northern Michigan’s population increasingly skewing toward older demographics, those working in the senior care industry have been fretting for years about whether the region has the infrastructure and services necessary to support the aging population. From senior living communities to in-home care providers, professionals in this space have repeatedly told the TCBN and its sister publications that they lack the space and/or staff to meet the

needs they expect the region will face in the coming decades.

In fact, according to Amy Northway, president and CEO of Traverse City’s Monarch Home Health Services, the situation is already reaching a fever pitch.

“Monarch has been in contact with significantly more older children who are involved in the long-term care of their parents and loved ones,” Northway said. “The children may be moving their loved ones into their homes, or into assisted living communities, but still want to travel and have the freedom to enjoy their retirement years. As a result, there are more and more requests for weekend caregivers and extended caregivers.”

The good news, Northway says, is that older adults and their families are starting to be more proactive when it comes to planning for senior care. All the discussion about worker and capacity shortages in recent years, she notes, has helped people recognize that

“there is a need for reliable relationships with in-home care companies to provide short and long-term care on an as-needed basis.” While Northway still doesn’t think the region has enough caregivers to keep up with demand, she sees the uptick in caregiver applications as a “positive” sign that families are planning ahead.

In particular, Northway says there has been a notably increase in families establishing relationships with companies like Monarch before they need care – not when the need arises.

“Monarch Home Health Services has been conducting more and more ‘reserved’ interviews, as we refer to them, to have paperwork and introductions in place, as caregiving services are often needed with little advance notice,” Northway explained. “This allows for on-demand types of services for those with the means to provide care for their loved ones while they enjoy their lives up north.”

3. They affect the region’s number of “dark” homes

“Older

adults are having a huge impact on helping us advance our mission. The numbers are large, but more importantly, the impact they make is very significant.”

– Glen Chown, Executive Director, Grand

Many of the region’s retirees are snowbirds, or people who own homes in northern Michigan, but only live here part-time. That part-time population – and the number of local homes they hold down as second or seasonal homes – means that Traverse City and its surrounding areas have a disproportionately high number of homes that sit empty and dark in the winter.

Speaking to TCBN sister publication the Traverse City Ticker in 2021, Polly Cairns, the then-city assessor for the City of Traverse City, said that “approximate-

Traverse Regional Land Conservancy

ly 55% of residential-classed property for the City of Traverse City Leelanau County portion and 42% for the City of Traverse City Grand Traverse County portion” have principal residence exemptions. In other words, roughly half of the homes in Traverse City are second homes, not primary residences.

Regional numbers are high, too. In 2022, Networks Northwest and Beckett & Raedar published a seasonal population study for northwest Lower Michigan, which found that the population for the 10-county region swells by 78% in the summer. That number does include tourism, with overnight

visitors making up 40% of the region’s total population during the peak month of July. However, the report also specifically tallied the region’s part-time/ second-home population, finding that some 96,566 part-time residents call the area home during the summer months.

The number of seasonal homes in the region has become a hot-button issue in recent years as demand for – and cost of – housing has skyrocketed.

Per a 2023 Housing Needs Assessment from Housing North, vacation rentals and seasonal housing now account for more than a quarter of the total housing in the 10-county region, ranging from as low as 9.8% in Grand Traverse County to 40.3% in Benzie County. The report stated that recent increases in seasonal and short-term rental housing were “chipping away” at permanent housing stock across northern Michigan, and advocated finding a way to address this market, “particularly given the lack of rental and for-sale housing product that is available.”

4. They bolster the local volunteer force

The Grand Traverse Regional Land Conservancy (GTRLC) relies on an army of some 350 volunteers to carry out its mission of environmental preservation and stewardship in northwest Lower Michigan. Across six local counties, the organization protects more than 47,000 acres of land and 155 miles of shoreline. Volunteers lend a hand by building and maintaining trails, leading community hikes, spearheading events, assisting with efforts to combat invasive species, and more.

According to GTRLC Volunteer Coordinator Erica DesJardins, approximately 75% of the organization’s volunteers are retirees.

“There are so many examples, from our volunteer base, of retirees really committing themselves to our mission and going above and beyond what would be expected of a volunteer,” DesJardins said, before listing a few standout examples. One is Paula Dreeszen, a 66-year-old retiree from Interlochen who will be celebrating her 20th year of volunteering for GTRLC in 2025.

“Paula is a lead volunteer in our southwest region – which includes Manistee and Benzie counties – and manages most of the communication with volunteers in that area,” DesJardins said. “She sends weekly regional emails to those volunteers to keep everyone in the loop, coordinates trail maintenance and chainsaw response when it’s needed down there, and even leads a series of invasive species removal workbees in the summer in the Arcadia area. Her knowledge of Arcadia Dunes is totally unmatched, and she keeps excellent records of her work and observations there from over the years.”

There are other examples, too. One is Anne Sutton, who coordinates a group of 30-40 volunteers for GTRLC’s Maple

Bay Farm, which last year donated more than 6,000 pounds of organic produce to local food pantries. Another is Rick Hager, who used to work as a land manager for the U.S. Fish and Wildlife Service in Iowa. Since retiring to northern Michigan, he’s put his technical skills to work for GTRLC, leading projects around seed collection, invasive species removal and prescribed burns.

“Older adults are having a huge impact on helping us advance our mission,” said GTRLC Executive Director Glen Chown. “The numbers are large, but more importantly, the impact they make is very significant.”

5. They fill seasonal, part-time and even full-time jobs

Even beyond volunteer capacities, “older workers and/or retirees are very prevalent in our workforce in our region,” according to Rob Dickinson, regional director of business services for Networks Northwest.

Networks Northwest offers a variety of workforce, business, community and economic development services throughout the 10-county region, often acting as a matchmaker to connect job seekers with employers, or vice versa.

While the organization serves all demographic ranges, Dickinson says older adults have become a bigger part of the equation over the past 10 years or so.

“This is all anecdotal, but retirees are coming into our offices looking for work for lots of reasons,” Dickinson shared. “The most often relayed message is that they cannot afford to simply not work at this point. There is also a segment of older workers that are let go from their long-time employer and are struggling to find new employment.”

What older adults are looking for

from Networks Northwest programs can vary. Dickinson says certain types of work and certain industry sectors tend to be more popular among older demographics than others.

“Some retirees are looking to work in less demanding positions – so, parttime, seasonal and gig work are appealing,” Dickinson shared. “We are also seeing more older job seekers take jobs at retail and hospitality establishments. Retirees are finding their way to us in hopes of being connected to their next job in many industries, though. Our job seeker side of the house tells us that the individuals they are working with are frequently inquiring about manufacturing jobs and even post office positions, both full-time and part-time.”

In recent years, as talent shortages have pushed employers throughout the region to get more creative in filling vacant positions, Dickinson says it’s become easier to find good job opportunities for retirees.

“Employers at this point in time are opening up who they are willing to hire, and some are even targeting retirees or older workers,” Dickinson noted.

One example he cites is Plato’s Closet, a chain retailer in Garfield Township that buys and sells secondhand clothing for teenagers and young adults.

“They were on radio wanting seniors to apply for their part time positions,” Dickinson said.

Statistically, employment among older demographics is on the rise. According to a 2023 analysis from the Pew Research Center, roughly 19% of the approximately 11 million Americans that slot into the 65-and-older demographic are employed – a significantly higher share than in past generations.

For instance, in 1987, only 11% of the country’s 65-and-over population

was working. The higher percentage, plus the fact that the 65-plus demographic is roughly four times bigger now than it was in the mid-to-late 1980s, shows the changing norms of employment among senior citizens.

6. They bring institutional knowledge and investment capital to the table

While some local retirees are filling their time with volunteer work or part-time jobs, others are injecting lifeblood into the region’s economic development scene. So says Warren Call, president and CEO of Traverse Connect. The region, Call notes, is a magnet for retirees who have had quite a bit of success in their careers and are looking to pay that success forward to the next generation.

Examples include Northern Michigan Angels, an angel investment group whose members invest in “scalable, early-stage companies” from throughout the state; a majority of that group’s members are retirees. It’s also common, Call notes, for retirees to act as business mentors through SCORE, to sit on local nonprofit boards, to serve businesses or organizations in advisory capacities and more.

“The institutional knowledge of our retirees and seasonal residents is immensely valuable, and one of the unique attributes of this area that is a positive differentiator for us,” Call said. “These are accomplished people that have done impressive things all over the world, and their engagement and sharing of experience benefits our region, community and economy in a number of ways. Not only do they serve on boards and committees, volunteer for nonprofits and provide expertise and funding to our companies, they also serve as direct mentors for business, nonprofit and community leaders. Their generosity and passion for making this a great place is truly appreciated.”

By Rebecca Teahen, columnist

You’ve read thousands of articles about personal finance. You listen to the news and follow the markets, but somehow, it lacks personal connection for you.

Maybe once in a while an article will offer a novel strategy to minimize taxes or maximize investment returns, but all these tactical strategies fail to consider the big picture. Your financial strategy has to be relevant to YOU.

Now, imagine you’re out taking a scenic drive to enjoy the fall colors. Maybe you are wine tasting along the way or stopping to buy some apples at a road side stand. Doesn’t that feel better?

Your financial journey doesn’t have to be mired in drab forms and irrelevant noise from the media, nor does it have to be overly complicated. Let’s take a more holistic view, taking inspiration from those beautiful farms along your drive. As you pull in the drive or pull up to the farm stand, you may wonder how this farm got started. Maybe the land has been in the family for generations, or maybe a scrappy young couple has just pulled it together with duct tape and twine. Maybe the owners are new to the area and just purchased the property.

No matter which of the scenarios is true, they all have one thing in common: This is part of a long-term plan; a dream for the future. Similarly, your dreams for the future will benefit from a plan.

1. Have you created a long-term financial plan?

2. Do you have your estate plans documented, and if appropriate, a plan for generational transfer of wealth?

3. What do you want to create, nurture, and grow for the future?

As you review the selection and choose the apples or peruse the tasting menu at a winery, you’re thinking about what products are best to suit your tastes and your goals. How did the farmer select the variety of grapes or apples you’re enjoying? In some cases, the best wines and ciders may come from a blend of grapes and apples. Some land may be perfect for growing one variety, and terrible for another.

Like you, farmers are constantly learn-

‘Farming’ Your Finances

Are you providing sufficient care and feeding to grow your wealth?

ing and trying new practices to make their business more efficient and their products more marketable. Just like these farms, you must choose the right variety of assets and account types to meet your needs during a certain period. One asset class may do well while another lags; one account type may be better suited to a short term vs. long term goal. It’s critical to include a diverse set of assets in your financial plans.

1. Are your assets diversified to weather different market swings and to be well aligned with your goals?

2. Have you established the right mix of account types for your needs?

3. If part of your investment portfolio or savings plan isn’t working, what’s your plan to change it?

Once you’ve made your selection and bite into that sweet, juicy apple, or taste a crisp, refreshing sip of wine, you might wonder what it took to produce this treat. All agricultural production takes significant “inputs.” Beyond the initial planting or seeding, plants and animals require significant ongoing care and feeding. I’ve learned (and am still learning) this the hard way. My garden is suffering from terrible neglect. It turns out that a “set it and forget it” strategy does not work for growing vegetables.

Are you providing sufficient “care and feeding” to grow your wealth?

1. Are you consistently making deposits into your retirement and savings accounts?

2. If your assets have been growing for a while, take a look at what might need to be “pruned.”

3. Are there gains or losses to capture or accounts that could be consolidated to

provide some efficiency and simplification in your life?

The work of a farm revolves around the seasons and the weather. While this lends itself to a beautiful rhythm throughout the year, it can also be incredibly challenging when the weather doesn’t cooperate! We can take many lessons from this, some harder than others.

First, make hay while the sun shines. Be sure you’re saving while you can, and don’t let the natural rhythm of life throw you off course. When you get a good “harvest,” make a plan to “store” those earnings for the future.

Success in agriculture and in life requires patience, persistence and perseverance.

1. Are you taking advantage of your strongest earning years to save for the future?

2. Do you have a plan of where to “store” your money and how to steward it if you’ve had some strong earnings or perhaps received a gift or inheritance?

While I do enjoy the four distinct seasons in our region, some are more enjoyable and

productive than others. An unexpected storm can cost a farmer their entire crop for the year, but it doesn’t have to knock your financial plans off the map. Success in agriculture and in life requires patience, persistence and perseverance. Your hard work, consistent saving, and a long-term outlook on your investments will pay off.

1. Do you have a plan to weather a “drought” in earnings or an unexpected expense?

2. Are you prepared to be patient and let your savings grow long term, even when the market is volatile?

3. Are you in the season of life where you can relax a little and simply enjoy the harvest? If so, have you created a plan for efficient decumulation and enjoyment of your retirement years?

As you think about the future you’d like to create, perhaps you can draw some inspiration from your neighborhood farms. I’m grateful to have just a tiny bit of involvement with our local farm community. We provide ample “care and feeding” to three old horses and grow hay in Northport. We are fortunate to have amazing neighbors who help us whenever a piece of equipment breaks or when we just need a few extra hands. You can benefit from our connected community to help along your journey, too. Whether you need financial advice, or just want to know where to find the best apple pie, just ask.

Rebecca Teahen, CIMA® has a background in philanthropy and farming and is a Financial Advisor with Robert W. Baird & Co. Incorporated in Traverse City serving clients nationwide.

BIG BANKS, LOCAL LEADERS:

Northern Michigan bank heads on community investment, economic insulation and local control

By Craig Manning

Banks occupy a unique position in a community. On the one hand, banks are big businesses that have a direct impact on local communities through everything from mortgages to commercial lending to charitable activities. On the other hand, many banks are regional or even nationwide entities, beholden to major corporate interests or stakeholders that have very little to do with mid-sized towns like Traverse City.

It all begs the question: What does it take to be the local leader of a larger, out-of-townbased bank? To find out, we convened a panel of three local bank presidents to learn all about their day-to-day jobs, the things that make northern Michigan unique from a banking standpoint, and retaining local control even amidst a large corporate entity.

The Panel

Nick Florian is the northern Michigan market president for Huntington Bank, which is a publicly traded Fortune 500 company based in Columbus, Ohio. Huntington has more than 1,000 banking offices in 10 different states, most of them in the Midwest.

Autumn Gillow is the vice president of commercial banking for Fifth Third Bank’s northern Michigan operations. Like Huntington, Fifth Third is a publicly traded Fortune 500 company. The bank operates more than 1,000 branches and more than 2,000 ATMs in 11 states. The business is based in Cincinnati, Ohio.

Sid Van Slyke is the senior vice president and market leader for West Shore Bank in Traverse City. Unlike Huntington and Fifth Third, West Shore bank is not a major publicly traded company, nor does it have operations in multiple states. However, the bank – which started in Scottville, Michigan in 1898 – remains based in Ludington and does

The Questions

TCBN: Give us a general idea of what your job looks like on a day-to-day and week-to-week basis. How much of the role is on-the-ground stuff with local branches or local events, versus traveling for meetings/conferences or interfacing with corporate leadership from afar?

“Traverse City has grown a lot in the last 10-plus years, but it still has the heart of a small town – a ‘take care of your neighbor’ feel. I hope that doesn’t change.”

– Autumn Gillow, Vice President of Commercial Banking, Fifth Third Bank

business in six counties, in addition to Grand Traverse. Those counties are Benzie, Kent, Manistee, Mason, Muskegon and Oceana. The bank has 11 branches total.

Florian: It kind of ebbs and flows, but much of my time is spent in the local markets. Our northern Michigan territory is quite larger, covering some 37 counties and spanning 82 branches across the tip

of the mitt and the U.P. So, my job really is a regional role, and my responsibilities span that whole territory. But my time is predominantly spent in Traverse City; I have an office at our branch on Garfield. Huntington houses more branches in the state of Michigan than any other institution, and we have a pretty strong physical presence in northern Michigan. So, I am regularly visiting branches. I’m visiting customers. I’m attending community events – ribbon cuttings and groundbreakings, and what have you. I’ve been with the bank 31 years and have served on a variety of nonprofits in that time, as well as civic and charitable boards. I continue to do that work.

On top of all that, you just have your office days. And there are days every week when I’m just sitting down with customers. That’s the part of the job I love: It’s getting out in the marketplace, meeting with our customers, meeting with people who want to bank with us, and learning about their business, learning about what they do, learning about their nonprofit. We

Florian Gillow

Van Slyke

even go out on tours of local businesses. I did one just a week ago, where I went out and toured the facility of a large-scale manufacturer that banks with us. Things like that are such a great opportunity to learn about what our customers can do, and what people are doing that provide jobs in our community. That’s the fun part of my job.

Gillow: My role is twofold: acting as market president and leading our commercial banking efforts in northern Michigan. The market is rather large geographically, stretching into the upper peninsula and down to Saginaw area. My role includes meeting with clients and attending events throughout the footprint, and while that does entail a fair amount of travel, I do spend much of my time in the Traverse City area.

Van Slyke: A day in the life for me is nearly all local. I am the market leader or community president for the Grand Traverse region, so nearly all of my time and effort is spent here. I do travel about once a month to our headquarters in Ludington, but that’s really it. The exception would be traveling to meet a client outside of this market, or the occasional conference that may be further away.

We just have the one branch in the Grand Traverse area, which is why we chose a centrally located spot for our forever home on Eight Street. The location, which opened in 2018, offers easy access from the east or west without feeling like

our clients have to go downtown and fight for parking to visit us.

On-the-ground work accounts for about 95% of my day-to-day. I’m still directly involved in many of our client relationships. In addition, I myself attend most of the local events I ask my team to attend. We’ve also hosted more than 100 events in our own community engagement room, located on the third floor of our Eighth Street building. Primarily, those events were for our local nonprofit community.

TCBN: Our area has a mix of more regionally based credit unions and then a bunch of branches for larger nationwide banks. How do you keep a local grounding here, so that the northern Michigan branches still feel like they are really rooted and involved in the community? What role do you as a leader play in that localization?

Florian: This summer, our CEO for Huntington Bank flew into Traverse City and spent a day with us, with our customers, with our colleagues, and went and visited some of our nonprofits. It was an absolute stellar day, and it’s important to do that kind of thing because then our national executive leadership team gets a very good, in-depth peek at our local market. Because our market is different. Traverse City is not Columbus. It’s not Denver. It’s not West Virginia. Huntington is in a lot of different areas across the country, but we’re pretty well-rooted here in northern Michigan.

A little over a year ago, Huntington shifted into a regional bank model, where we have 11 regions across our national footprint and we’ve established leadership teams within each region. The benefit of that model is it brings the bank as close to the customer as possible. We still have a corporate component, where we have the depth of resources of a national bank. That’s the luxury we have. But because of our regional model, we bring the resources as close to our customers and communities as we can.

We leverage those resources in the form of a lot of volunteerism and community involvement. We’re always working with local nonprofits, from the Northwest Michigan Community Action Agency, to Father Fred, to Child and Family Services. Just recently, we did a groundbreaking out at Corners Crossing, a new workforce housing development, because we participated in getting that project off the ground. And we did the same thing with developer Woda Cooper, right here near our office on Garfield, with the Annika Place affordable housing project.

Gillow: We have a team of professionals that are committed to the local market. Our team loves northern Michigan. They live here and raise families here. Hiring a team that is part of the community helps us care for our clients, participate on local boards, and support the nonprofit community.

On that front, there are approximately

15 local nonprofits that we partner with, either financially, with board involvement, or volunteer support. Staying connected to the needs and initiatives of our local nonprofits ensures our team is staying connected to the needs of the local community.

Speaking personally, I joined Fifth Third eight years ago because of their deep commitment to supporting local communities, at a level I hadn’t experienced at other large banks. Part of my role is to ensure we remain connected to the initiatives in the community that need our support.

Van Slyke: West Shore Bank turned 126 years old as an institution this year, but we’ve only been in Traverse City for a little more than six years. We had a small wealth management and mortgage presence, but I was hired to bring the full banking services to the community for West Shore in 2018. The bank’s board of directors had been looking at Traverse City for close to 10 years as the next place they wanted to grow.

Fortunately for me and the team, the CEO and board were aware that Ludington and Traverse City are two different communities. It’s most common for a bank that’s new to a community to send their team from somewhere else to get things rolling. Our board saw things differently, and made the decision that they wanted Traverse City people to run the Traverse City effort. As a result, everyone on our local team – now up to 28 people – are local people who were in banking

before West Shore arrived here. Being involved in the community we serve is embedded in the DNA of this bank. It’s rare you see a community effort we’re not involved in, and that would be true for every community we serve down the lakeshore. As far as my role goes in that, I’ve always been heavily involved in the community at a pretty high level. Part of the reason for that is I’ve always felt that, if I am going to ask my team to do this stuff, I need to lead by example. I can’t be at every single thing we do, but I definitely do as much as I can.

TCBN: What makes the northern Michigan region unique for banking? How do those unique attributes affect your work, versus bank leaders from other regions?

Florian: We are a little unique in that we have a large region, just from a geographic standpoint. At Huntington especially, we have a lot of offices spread out across northern Michigan. Whereas, if you think about one of our metro markets, the density is just totally different. We don’t have that density, which is why we are spread out a little bit. So, that’s a difference, but that’s also where we leverage our local branch managers, who have a tremendous amount of visibility into the local markets that they operate in. They live there. They work there. These branch managers are very connected to their community, and we give them quite a bit of empowerment there – to be engaged, to volunteer, to service in any way they can.

Gillow: I think people in this area want to work with people they know and trust. I certainly do! Traverse City has grown a lot in the last 10-plus years, but it still has the heart of a small town – a ‘take care of your neighbor’ feel. I hope that doesn’t change.

Van Slyke: I can’t speak for any other banks, but I do know why we love being here. I came to Traverse City back in 2000, and my wife and I fell in love with this

place immediately. Within six months, we were both looking for a way to stay here much longer than we planned to.

One thing I love about this area is that the entrepreneurial spirit here area is inspiring. So many small businesses are succeeding, and getting to know the founders of these businesses has been great work to me.

Some of the unique things about this region might be the seasonality of many of our businesses, or the higher-than-normal concentration of hospitality and service businesses. On a national scale, some of these industries fall in and out of favor for the larger financial institutions. That doesn’t work well for small business. They need a partner that understands there will be good times and bad, and you have to be there through both.

I still recall my time at a larger bank and bringing my first winery loan request through. (Headquarters) thought I was joking about there being a winery business in Traverse City!

TCBN: We’ve heard a lot of talk over the past decade or so about how this region and its desirability – as a place to live, as a place to visit, as a place to do business – insulates it a little bit from economic ebbs and flows. But then, obviously, there are certain things – like inflation and interest rates – that affect every area. How insulated is our economy, in your opinion, and what does that mean for the banks that operate here?

Florian: I think we can all agree we’re not immune totally, right? We still get exposed to certain aspects. So, the inflation, the rising costs, those things are no different for northwest Michigan than they are anywhere else. We’ve got to be prepared to help support our customers who are dealing with higher costs – whether it’s a business, whether it’s a consumer – and just trying to provide any products and

services we can to solve those issues. One thing that is unique about northern Michigan is that desirability factor. Thanks to social media, I think the awareness that people have regarding our climate, regarding our amenities, regarding our tourism attractions, it’s all caused an increased migration here. Simply put, northern Michigan is appealing, and we’re blessed that we get to work, live and play here. But we’re on the map, and we have been. Traverse City is going to grow, and we’re going to see commerce continue to grow, too. When that happens, it also raises prices. You see all these articles about the cost of housing, and it’s not getting any cheaper. We’re acknowledging that at Huntington, and we’re doing our part to help by leaning in on developments like Corners Crossing and Annika Place. Those projects are desperately needed, and while they’re not going to be built overnight, they are big projects that can make a difference.

Gillow: I do think we’ve been somewhat insulated in the past. However, I’m not sure past trends can predict the future, given how much Traverse City has changed in the last 10-plus years.

It’s important to be well diversified to operate through any cycle. A balance of consumer and commercial banking, diversification across industries, etc. Banks that maintain a disciplined approach to business will continue to do well.

Van Slyke: I do think the demand for what we are insulates us some. We’re not impervious to interest rates and inflation, but I do think people want to be here regardless of cost. That could be just visiting for a weekend, or moving here permanently. We saw the huge spike during and after COVID. When people became more able to live and work wherever they wanted, we benefited tremendously, and that plays out economically in all types of business; more people here simply means more demand for products and service. But it

also means we are hurting on the housing front, because the national housing issue is only exacerbated when everyone wants to live here.

TCBN: As a bank leader, do you think you have more or less local control over lending and overall operations than you did five years ago? To which factors do you attribute the shift?

Florian: I already mentioned our adjustment to our org structure a little over a year ago, where we went to a regional banking model. Our northern Michigan market runs from the mid-Michigan area – so, the Great Lakes Bay Area, Flint area – all the way north and into the entire U.P. So, that’s pretty expansive, geographically. But we do have a lot of local control, where we have this regional leadership team that represents all of those mini-markets throughout our territory. And I think the change has been hugely beneficial. We’re seeing really good growth because of our pivot to a regional model, and I think it’s because we are closer to the marketplace. It’s been very well received by our customers, and it is paying dividends for our bank.

Gillow: I’d say it’s about the same. Our industry is highly regulated, so it’s our job to deliver the best experience we can while adhering to the guidelines that are intended to protect our clients and the bank.

Van Slyke: No question, there is more control here in Traverse City five years later. We literally have half of our senior management team here in Traverse City now. Our heads of wealth management, treasury management and even our credit officer are all here in Traverse City. So yes, there is definitely more decision-making and control here than there was five years ago.

Operationally, that would be true as well. We have commercial credit underwriting here, as well as our consumer mortgage underwriting and processing. A lot of the operations for our entire bank happen right here on Eighth Street.

By Ross Boissoneau

Everybody wants to make money, then put it to work making more. But above all you want to keep it safe – safe from thieves, hackers and economic downturns.

There are numerous options and investments available. The best way to keep your money safe? That varies depending upon whom you ask, so we asked a number of people.

What about the time-honored tradition of holding onto cash? Stashing it under your mattress might keep it safe, as long as no one breaks into your home, but that doesn’t keep it safe from inflation. Though the rate of inflation is dropping, it’s likely there are other avenues to provide better results.

Instead of stuffing it under your bed, you could put that cash in a bank. Doug Zernow, the chief marketing officer at State Savings Bank, touts the safety of keeping your money in a bank, where it’s insured by the federal government up to $250,000.

“No one has lost money since the (inception of the) FDIC. I can’t see anything safer than that,” he said, referring to the Federal Deposit Insurance Corporation.

Keeping your money in a savings account that accrues interest also keeps it earning, rather than decreasing in value.

“The rates go up and down. You can always find a bank that competes on price. For some, that’s all that matters,” Zernow said.

For others, the bank’s service and place in the community are also important and helps them feel confident in where their

money is being put to use.

“Our customers … want to feel they’ve being treated fairly,” he said.

What about the wide, wild world of cryptocurrency? Cryptocurrencies have attracted a reputation as unstable investments due to investor losses from scams, hacks, bugs and volatility. Because of their technical complexity, using and storing crypto assets can be a challenge to new users.

Rick Stringer heads a local group of crypto investors, and he has a different view. While there are a dizzying number of cryptocurrencies available, he says sticking to Bitcoin is a sound and safe investment.

“All the others are a form of gambling. Bitcoin is decentralized. No one entity controls it,” he said.

So, he considers it much safer than banks.

“As long as you self-custody your Bitcoin instead of leaving it on an exchange, such as Coinbase and others,” said Stringer. “Any exchange can get hacked. Bitcoin is considered the most secure form of money you will find, as long as it is handled properly.”

He said when you self-custody Bitcoin, you have a passphrase of 12 to 24 to words. Those words are the key to your Bitcoin.

“Typically, when someone loses their Bitcoin, it’s for one of two reasons: They held it at a custodian that got hacked, or they lost access to their passphrase,” he said. “Bitcoin itself has never been hacked; however, companies that hold Bitcoin have been. That’s why self-custody is so crucial.”

For financial advisor Larry Avery,

SAFE BET

Keeping your money productive and protected

“I believe in the market. The stock market is a creator of wealth. It always goes up, just not in a straight line.”

– Larry Avery, financial advisor

there’s safety in numbers. As in your money is safer if you spread it around in a number of ways.

“Diversity is the key,” he said.

First is how you make your money.

“If you own a business or have a good job, that’s a constant source of income,” he said.

Stocks and bonds offer a number of different investment opportunities, and that is an area he is always confident in.

“I believe in the market. The stock market is a creator of wealth. It always goes up, just not in a straight line,” he said.

Which for him means playing the long game. Buy low, sell high is not an investment strategy.

“In the long haul,” he said, “buy and stay the course.”

Annuities are also a popular choice

for retirement planning and long-term financial security, and Avery says they can be useful as well.

“There are some annuity products that are great for people with less pain tolerance,” he said, adding they are safer but cap the upside.

Finally, he recommends including real estate in one’s portfolio.

“Get a piece of the rock,” Avery said. Is real estate really a secure investment? Many investors jumped in immediately after the pandemic struck as the short-term rental market exploded. Katy Bertodatto of Golden Swan Management strikes a note of caution in terms of currently purchasing a home to cash in on that boom. She said short term rentals have largely plateaued and potential investors need to be aware of the market.

“Two years ago I would have said shortterm rentals are an excellent bet,” she said.

In fact, many of her clients who purchased properties to get in on the trend are money managers. Now, however, it’s a bit of a different story.

“Based on my experience the last couple of years, the market got flooded,” she said.

Add to that the increase in interest rates and the fact many communities are enacting rules to regulate the short-term rental market, and Bertodatto advises investors to tread cautiously.

New units are continuing to come on

the market, and some people still think it’s an easy way to make money, Bertodatto cautions.

“A lot of people are paying top dollar with the inventory low and prices high,” she said.

Beyond that, she said to make sure of the rules and zoning before buying.

“I get calls from somebody looking for a miracle. They ask me to manage a property that’s not zoned properly,” she said. “I can’t do that.”

Still, she’s optimistic as she looks down the road.

“I think it will settle down in years to

come,” she said.

But for now, it’s clear she doesn’t see spending money on a rental property as the best, safest use of your money.

That doesn’t mean that all real estate is a less than stellar choice for investment.

Dan Stiebel, a long-time commercial real estate consultant and sales person for Coldwell Banker Schmidt, says part of the appeal of owning real estate is that it is something you can actually see and touch.

“It’s local, it’s tangible, you can put your eyes on it. From a safety point of view, that is very reassuring,” he said.

He does say there is always exposure to

peril when investing.

“Nothing is risk-free,” he noted.

In the case of commercial property, there is always the possibility of tenant damage or natural disaster.

He said the biggest risk in real estate is wire fraud, when funds directed to a title company get intercepted by fraudsters masquerading as legitimate business.

Another is when someone tries to sell a piece of vacant land they don’t own. In both those cases, Stiebel said working with a legitimate Realtor and title company and checking with the property owners will eliminate any chances of theft.

Rick Stringer and his crypto meeting group.

Bertodatto

Zernow

Photo by Captured by Grace Photography.

GOLD RUSH:

Record-high prices have mixed impact on local dealers, jewelers

By Art Bukowski

Stocks? Sure. Bonds? Alright, fine. Cash? Getting closer.

The yellow stuff? Now we’re talking.

For thousands of years, mankind has been fascinated with gold. And while the financial world of 2024 is a bit more sophisticated than it was in ancient Rome or Greece, there’s still plenty of investors and collectors who insist on having this legendary and universally revered metal in their holdings.

“They want it in their hands,” said Chris Guynn, owner of Chris’s Coins in Traverse City. “It’s a security thing. They have it, and they know it’s worth something no matter what, no matter where they go, at any given time. You could be in the middle of the rainforest and pull it out, and everyone there will know exactly what it is.”

And while there’s a segment of gold buyers who don’t trust banks or the government, plenty of mainstream investors also hold gold as part of a diversified portfolio, Guynn says. Unlike many other financial instruments, there’s no strings attached when trading.

“It’s as liquid as water, and there’s no fees. If you have a CD (certificate of deposit) and you need to pull some out, there’s five or ten percent in fees, and then you have to pay taxes on top of that,” he said. “But if you’ve got that met-

“It’s as liquid as water, and there’s no fees. If you have a (certificate of deposit) and you need to pull some out, there’s five or ten percent in fees, and then you have to pay taxes on top of that. But if you’ve got that metal in your hand, you can go in anywhere and sell it for no fee – it’s just a matter of what the price is.” – Chris Guynn, Owner, Chris’s Coins

al in your hand, you can go in anywhere and sell it for no fee – it’s just a matter of what the price is.”

As it sits right now, the price of gold is at an all-time high. At $2,560 per ounce

(at press time), gold is double what it was just five years ago and about six times the roughly $300-$400 it was for the 20 years prior to beginning a slow climb in 2006. That means a mixed bag for local gold

purveyors. More people are interested in selling, which still allows dealers to make a profit by turning around and selling to wholesalers. But while they’re readily available, these wholesale buyers

typically offer ultra-thin margins in the 1-2% range.

“There’s always a buyer, it’s just a matter of what their number is,” Guynn said. “And it’s a matter of how far I have to go and how quick I can get my money. I can drive south for four hours and make (more money than here), but then I’ll be gone all day to Detroit …and if I ship it, I might not get paid for two and a half weeks.”

The bottom line is the best margins (up to 5% for the pure, investment-grade bullion that Guynn deals in) are in retailing to customers, and record high prices simply mean less action on that front.

“It’s a little rougher, because when gold was $1,500 an ounce, for instance, more people were coming in and buying because they could afford it,” Guynn said. “Now, at $2,400 to $2,600, there’s just less people buying. When the prices are lower, you do more business.”

But people still buy, and for that, Guynn is thankful. Because whether gold is at $300 or $3,000 an ounce, those tight margins remain the same. The more transactions, the better.

“Gold and silver are all about volume,” Guynn said. “You don’t stay in business by making a bunch of money on 10 ounces.”

The impact of a record-high price isn’t all that different with jewelry and other

“We can’t stand over it and go, okay, gold went up. Let’s go through here and mark up everything. We just can’t do it. I’m not here to make a million dollars a day, I’m here for volume sales and (having people know) they can come in here and get something nice without having to go get financing.”

–

Vince Amroian, Owner, Vince’s Jewelers

gold that isn’t quite investment grade.

Vince Amroian owns Vince’s Jewelers in Logan’s Landing along the Boardman River south of Traverse City. He’s seen an uptick of people coming in to sell gold now that prices are high, though he’s always had a steady stream of people through his door regardless of price.

“It’s everything from broken promises

and broken dreams to heirloom jewelry that people have that they want to sell,” Amroian said. “We’ll advise on selling it or consigning, or other avenues.”

Record-high prices can sometimes impact sales, Amroian says, even if it’s indirectly. Some people simply assume they’re priced out.

“We sell gold chains, we sell gold rings, but people have this perception

that it’s unattainable,” he says. “They’ll come in and (assume they) can’t buy any gold because it’s too high…not so here because we’re buying it right and we’re rehabbing it right.”

Unlike with bullion, in which high purity means more price fluctuation, the various purity and ratios of gold found in jewelry makes pricing at a place like Amroian’s much less volatile. He’s not

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“Yes, prices have gone up on things like gold chains, but it really doesn’t affect buying. Fashion trends are cyclical. Things that were popular in the eighties are popular again, and we sell a ton of yellow gold, a ton of those big chains.”

– Jeff Guntzviller, General Manager, Miner’s North

out to lose money, but says his far greater concern is building a good reputation for his business.

“We can’t stand over it and go, okay, gold went up. Let’s go through here and mark up everything. We just can’t do it,” Amroian said. “I’m not here to make a million dollars a day, I’m here for volume sales and (having people know) they can come in here and get something nice without having to go get financing.”

Over at Miner’s North in downtown Traverse City, General Manager Jeff Guntzviller recalls the 2008 economic downturn during which there was an intense blitz of gold-buying ads. Even though the price of gold is much higher now, he says they bought far more gold back then as consumers were whipped into a selling frenzy.

“There were a lot of places advertising that they buy gold, places popping up in the outlet mall, commercials and things like that. Jewelers were struggling at the time, and they were spending ad dollars,” he said. “We did a bit of that (advertising), but I’d rather spend our ad dollars on our true core business – engagement rings, jewelry and diamonds.”

Like Amroian, Guntzviller isn’t running around marking up prices as gold

gets higher, though certain single-metal items fluctuate based on spot prices. And while prices for those pure metal items are higher, it doesn’t seem to be fazing customers.

“Yes, prices have gone up on things like gold chains, but it really doesn’t affect buying,” he said. “Fashion trends are cyclical. Things that were popular in the eighties are popular again, and we sell a ton of yellow gold, a ton of those big chains.”

From a financial standpoint, Guntzviller says the high price of gold is advantageous because he can offload unused or scrap jewelry components that have piled up over the years for the most money. But the arguably biggest benefit is the chance to have a conversation with a newcomer who might later become a regular customer.

“A lot of times it’s people who inherited things and they’re trying to figure out what to do with it. Sometimes they end up selling it, of course, but you try to help them with all of the options. We can make it into something else, scrap it, take it to a place where they can sell it for you, or they can trade it in,” he said. “We want to be able to help everyone, and if we can help them, they’re going to remember it.”

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By

The Bucket Strategy: Popular approach is widely used by financial planners

As investors approach their retirement years, they need to shift their vision from investing solely for the future and start strategizing on to how to pull from their investments to supplement their retirement income.

The bucket strategy is a popular approach widely used by financial professionals in designing an efficient and intentional retirement investment portfolio. This strategy typically utilizes three buckets, each serving a specific purpose based on when the investor might need access to funds. The buckets can be named a number of titles, but they have the same basic purpose: well-planned access to your hard-earned funds in retirement.

Everyone’s story is different and the bucket strategy is a flexible tool that can be crafted and tailored to each individual’s plan.

Today Bucket: The Today Bucket (or Now Bucket) is where investment options allow access to funds needed in the next two years. These investments would include conservative, low-risk investments. Money market funds, certificates of deposit and short-term treasuries are just a few types of investments that might be held in the Today Bucket. Emergency funds would be included in this bucket as well. By isolating funds in a low-risk investment that the investor knows they are going to need, volatility can be reduced. Distributions from this bucket would include a monthly withdrawal or lump sums for designated expenses (e.g., vacations, home improvements, etc.).

Tomorrow Bucket: The Tomorrow Bucket (or Soon Bucket) is designed for funds that may be needed in the next seven to 10 years. The Today Bucket can be refilled from this bucket as it is depleted, and the market indicates an optimal time for liquidation. The Tomorrow Bucket invests in a mixture of assets with conservative to moderate risk levels to take advantage of growth. In this bucket, you may find investments like annuities, mutual funds, stocks and bonds. The investor is targeting a moderate return with the flexibility to move funds to the Today Bucket as needed. If the investor has greater income than they need for their current daily expenses, they may add to this bucket as a savings vehicle for future big-ticket items, such as a new roof.

Beyond Money Bucket: The Beyond

Money Bucket (or Later Bucket) consists of funds that are not anticipated to be needed for 10 or more years. The purpose of this bucket is to build wealth over the long term. This money also works to replenish funds in the Today and Tomorrow buckets. Additional risk can be taken on in this bucket because the timeline allows liquidation to be timed with optimal market conditions. Stocks and mutual funds looking for growth are commonly found in this bucket. The Beyond Money Bucket often includes assets intended to be passed on to beneficiaries.

The bucket tool can also be used for phases of investment that are not strictly retirement, like the Accumulation Phase and Transition Phase. The Accumulation Phase of investment starts when you first begin saving and continues to five to seven years before you retire. The Transition Phase of investing is typically five to seven years before retirement. This phase incorporates a reassessment of investment risk and moving into new products and allocations in preparation for the Preservation Phase, or the retirement period itself. Working with a financial advisor can help you navigate the complexities of combining the bucket plan and the phases of investment.

By combining both the short-term needs of the investor with the long-term retirement timeline, investors can design a portfolio that helps navigate their retirement years. Everyone’s story is different and the bucket strategy is a flexible tool that can be crafted and tailored to each individual’s plan.

Heidi Cartwright, RICP®, has been in the financial retirement industry for more than 15 years. Heidi specializes in issues unique to women in retirement. Securities offered through LPL Financial, Member FINRA/SIPC.

Investment Advice offered through Capital Asset Advisory Services, LLC, dba CG Advisory Services, a registered investment advisor. Capital Asset Advisory Services, LLC, CG Advisory Services and Prout Financial Design are separate entities from LPL Financial. Intended for educational purposes only and not as investment advice.

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Heidi Cartwright, columnist

By Eric Braund, columnist

The past few years have brought their fair share of stress, with worries about a potential recession and ongoing inflation leaving many feeling uncertain about what lies ahead in 2025.

While these concerns can feel overwhelming, your personal finances don’t have to mirror the challenges of recent times. There are plenty of strategies you can employ to regain control of your finances and pave the way for a brighter future. Take the time to prepare before the end of 2024 (it’ll be here before we know it!) by considering these five end-of-year financial actions to cover all your bases.

1.   Assess Your Emergency Fund

Now is the time to ensure that you have enough money set aside in your emergency fund or create a plan to build this up over the next year.

With all stock market uncertainty and recession fears, we suggest maintaining a larger emergency fund closer to six to 12 months of expenses for most individuals. However, if you are in or nearing retirement, it’s wise to consider having at least one to two years of cash reserves. This buffer can help you manage unforeseen market downturns or unexpected expenses, without the need to prematurely liquidate investments.

However much you save, be sure this money is held in a highly liquid account. It needs to be readily available and easily accessible, but it should also be in an account that offers a competitive interest rate so that you don’t lose out on potential growth.

2. Review Your Asset Allocation

The end of the year is also a great time to review your asset allocation strategy. Given the continued impact of market volatility and historic levels of inflation these past few years, it’s crucial that you evaluate your investments and make sure your portfolio is properly positioned. You should be earning enough returns to keep up with inflation, but not overexposing yourself to risk.

DON’T MISS OUT Five

financial moves to make before year’s end

3. Consider Charitable Donations

Charitable donations are an important strategy to consider as the year winds down. Instead of waiting until the last minute, we advise our clients to schedule their gifts in earlier in the year. This way, you can comfortably contribute to your favorite non-profits, churches and organizations and enjoy the benefits of giving – without the year-end rush.

Charitable donations can be used as part of your overall tax strategy, or as part of a comprehensive estate plan. Providing many potential benefits including supporting causes you care about, reducing your taxable income and reducing your taxable estate.

4. Focus on Tax Planning

Early fall is an ideal time to review your tax strategy. Taking these steps can help you manage your tax liability effectively and keep more of your hard-earned money in your hands:

• Tax Loss Harvesting: If you have investments that have declined in value, now may be a good time to sell them to offset gains in other areas of your portfolio. This strategy – known as tax-loss harvesting – can help reduce your taxable income and potentially save on your annual tax bill. You’ll want to consult with a financial professional to see if this strategy fits your overall financial plan.

• Roth Conversions: Another effec-

tive strategy to consider is converting a portion of your traditional IRA to a Roth IRA. While you’ll pay taxes on the converted amount now, the funds can grow tax-free and qualified withdrawals in retirement will also be tax-free. As with tax-loss harvesting, be sure to discuss this with a financial professional to determine if a Roth conversion aligns with your long-term goals.

• Review Deductions and Credits: If you haven’t already, take the time to review any potential deductions and credits to make the most of them. This could include deductions for medical expenses, charitable donations, and education costs. In the end, every bit of savings can contribute to your larger financial picture.

• Maximize Retirement Contributions: Now is a great time to consider increasing contributions to retirement accounts like 401(k)s and IRAs. This approach can help you measurably increase your retirement savings and provide tax benefits for the current year.

5. Revisit Your Plans and Policies

Lastly, take another look at your estate plan and insurance coverage. If you took the time and energy to create an estate plan, check it periodically to ensure all the documents are up to date and no major details have changed. Your insurance needs may also change as the year goes by, so periodically review your coverages and designated beneficiaries to bring them up to date to reflect

your current financial situation. For example, if you paid off debt, you may not need as much life insurance coverage since your family’s liabilities have decreased. You might also want to evaluate your need for other types of insurance, such as long-term care or disability insurance.

Preparing for Your Future

As we enter the last few months of the year, it’s an excellent time to take proactive steps with your financial planning. Focus on essential areas such as building an adequate emergency fund and optimizing your tax strategy, so you may better handle the uncertainties that lie ahead. By addressing these issues now, you can better prepare for year-end and be ready for any challenges – and opportunities – in the future. Taking this time to assess and adjust your financial plan now can have a positive impact on your financial situation over the long term.

Eric Braund, CFP®, CRPC® is the founder and CFO at Black Walnut Wealth Management, a financial advisory firm providing counsel and fiduciary financial services to individuals, families and private foundations throughout the Traverse City and northern Michigan region. Contact him at (231)421-7711 or visit BlackWalnutWM.com. Braund is an Investment Advisor Representative with Dynamic Wealth Advisors dba Black Walnut Wealth Management. All investment advisory services are offered through Dynamic Wealth Advisors.

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By Cortney Danbrook, columnist

In the estate planning world people often ask, “Why does it have to be so complicated?”

Estate planning and death should be simple, but it’s not. It’s a tangled web of unanticipated life events, income and estate taxes, ever-changing state and federal laws and complex family relationships.

Navigating all of these factors while facing our own mortality makes estate planning easy to put off. In fact, more than 68% American adults have no estate plan in place. Of the remaining 32%, a large portion of people think they have their estate plan handled through the use of “poor man’s” estate planning, a term used to describe the practice of using joint titling and/or beneficiary designations to pass assets to another individual by the operation of law, outside of probate and bypassing a will or trust.

Seems simple, right? Unfortunately, simple is not always better. In fact, remember all of those unanticipated changes in life, taxes, laws and relationships? Well, none of those are factored into the use of a “poor man’s” estate plan. Instead, the lack of planning for the “what-ifs” in life usually results in unintended consequences.

Joint Titling and Ownership

It is not uncommon to come across someone who has put their child or other individual on their bank account or real property. In their mind, adding someone as a joint owner on an asset ensures that asset will avoid probate by passing to that individual directly by operation of law.

That may be true, but not always. It depends on a variety of factors, including what type of joint ownership it is and the order of death between owners. What if that child you put on the deed to your property (as joint with rights of survivorship) survives you, but you have three other children? The child on your deed just legally inherited 100% of that property outright upon your death and you have unintentionally disinherited your other three children.

Alternatively, if that child on the deed does not survive you, it will pass as part of your estate upon your death and be subject to probate, a process you were trying to avoid. How about control and creditor exposure? Well, that person you just added as an owner on your bank account for convenience now has the

POOR MAN’S ESTATE PLANNING

The land of unintended consequences

same access and control over that asset as you do, which means your asset is now subject to the claims of that individual’s creditors as well. Further, since there was no consideration given in exchange for ownership when you added an individual as an owner, there is the potential for gift tax implications.

Beneficiary Designations

Like certain types of joint titling and ownership, beneficiary designations are designed to be direct transfer assets, where the beneficiary automatically receives that asset upon your death. While this can be beneficial in certain circumstances, again, it depends on a number of variables. Since a beneficiary’s right to that asset is contingent upon your death and their survival, there is again the risk of the asset being subject to probate depending on the order of your deaths.

There is also the risk of unintentional inheritance or disinheritance if your beneficiary designations are not up to date. Remember the day you opened that savings account 20 years ago? Do you remember who you listed on it? What if you named the only child you had at the time, or maybe it was that ex-girlfriend you were certain you would marry? Likely, you have no recollection of who is on that form from 20 years ago.

Unfortunately, the beneficiary designation form controls without regard to your current life circumstances and regardless of any other estate plan documents you may have in place. Therefore, your designated beneficiary (or lack thereof) that is named on that account dictates not only who will receive that asset, but also how and when they receive it.

Retirement Accounts and Other Embedded Tax Assets

Retirement assets, such as individual retirement accounts (IRAs), 401(k)s and other qualified plans, contain pre-tax dollars – money you put away in a specific type of savings vehicle which allows you to avoid paying tax on that money until such time as it is withdrawn in the future. These types of accounts allow you to name a beneficiary to receive those assets outright upon your death. Simple, right? Not really.

While the use of direct transfer assets seems like a simple, efficient solution to conveyance of assets upon death, they are inherently inflexible and stagnant by nature.

Not only are there the potential pitfalls with the beneficiary designation discussed above, these accounts contain pre-tax dollars and the IRS is anxiously waiting for the money to come out so they can collect income tax. Compounding the issue is that retirement and other embedded tax assets are increasingly making up the largest portion of a person’s estate.

Thus, proper planning for succession of these assets is critical, including restrictions on when and how a beneficiary withdraws the assets.

Take Jeff’s story, for example. Jeff was

a widower with one son, Peter, who just turned 18. Jeff passed away unexpectedly with his largest asset being an IRA naming his son Peter as the primary beneficiary. Since Peter was 18, the IRA paid out directly to Peter, free of restrictions. Peter did what any young 18-year-old would do: He withdrew from college, cashed out the IRA and bought the fastest, most expensive car he could find. Not only did Peter unnecessarily accelerate the income tax on the entire amount of the IRA, his inheritance is now fully invested in a depreciating asset.

While the use of direct transfer assets seems like a simple, efficient solution to conveyance of assets upon death, they are inherently inflexible and stagnant by nature. Our assets, life circumstances and laws continuously change, yet ownership titling and beneficiary designations remain frozen in time.

Each direct transfer asset is account or asset specific, and there is no coordination between your assets to ensure they all pass consistent with your intent. A good estate plan, as opposed to a “poor man’s” estate plan, serves as the funnel for all of your assets, anticipating changes in personal and financial circumstances to ensure your intent is carried out in the most efficient manner.

As Antoine de Saint-Exupery fittingly said, “A goal without a plan is just a wish.”

Cortney Danbrook is an attorney at Danbrook Adams Raymond PLC in Traverse City. She advises individuals, families and businesses in the areas of estate and succession planning, and provides specialized counsel to business clients on liquor licensing and regulatory compliance. She can be reached at (231) 714-0163 or cdanbrook@ darlawyers.com.

PLANNING YOUR EXIT

Advice for business owners nearing retirement

By Kierstin Gunsberg

While some say you can’t put a price tag on happiness, Curtis Kuttnauer might disagree.

For close to a decade, he’s helped business owners maximize their profits by listing and selling their companies through Golden Circle Advisors (GCA), a Traverse City-based investment bank that specializes in mergers and acquisitions.

Founded by Kuttnauer and his business partner Fred Manuel in 2015, GCA offers clients comprehensive valuations before taking their businesses to market, weighing factors that owners focused on daily operations might overlook.

Kuttnauer recently worked with one such owner of a Detroit-based trucking company who he says had low expectations. The owner, a quiet man who’d been grinding away early mornings for two decades, ran the company alongside his wife and said they’d be happy if GCA could net a $1 million sale of the business they’d spent their lives building.

In the end, “(i)t was one of our quickest sales ever,” recalled Kuttnauer. “We sold the business for $2.7 million…they were leaving so much money on the table.”

Though GCA works with clients across

and beyond the state, Kuttnauer especially loves working with the business community up north and has facilitated mergers for companies like Thomas & Milliken Millwork, Inc., Midlake Builders and Benjamin Twiggs.

“I believe in this community up here,” he said.

“The thing is, for small businesses, most of the owner’s net worth is tied up in their business,” Kuttnauer explained.

To fund their retirement, these owners need to sell.

“We take great satisfaction in helping people move on to the next stage of their life,” he said.

“You want to sell your business when you have a positive story to tell about it.”

– Curtis Kuttnauer, co-founder, Golden Circle Advisors

And while he enjoys exploring northern Michigan’s coast when he’s not in meetings, Kuttnauer’s not ready to retire just yet – but he works with many who are.

“Most of the companies we’re dealing with are owned by baby boomers,” he said. “If you’re a baby boomer and you own a small business, now is the time to start thinking about selling.”

He added that at the moment there’s a lot of demand for well-established, profitable companies like those run by soon-to-be-retirees looking toward their next adventure.

Here’s what Kuttnauer had to say about what retirees should keep in mind when preparing to trade those 5am wake-up calls for the snooze button:

Sell While Successful

Kuttnauer advised soon-to-be retirees to consider selling their business while it’s still thriving.

“The number one thing is that you want to be selling your business while it’s successful, while you can show year-to-year growth in sales and profitability. That’s

the ideal time to sell,” he said, pointing out that a business still in a growth phase is far more appealing to potential buyers.

After all, most buyers aren’t out to spend big bucks on a stagnant business.

“You want to sell your business when you have a positive story to tell about it,” he added.

Don’t Wait Until You’re Burnt Out

One way to avoid a stagnant business while increasing its value, says Kuttnauer, is to jump ship before burnout has a chance to set in. He shared an example of a small distribution company he recently worked with where the owners had lost their enthusiasm and were considering shutting down altogether, rather than putting it on the market.

The distribution company’s CPA had suggested that as an older mom-and-pop operation, the business might be a tough sell. After Kuttnauer crunched the numbers, though, he found that wasn’t the case at all. In fact, it was pretty lucrative.

The problem, says Kuttnauer, wasn’t that the business was languishing – it’s that the owners were.

“I walked in there, and I could tell the moment I shook the owners’ hands that they’d lost the fire in their belly – they really did not

Curtis Kuttnauer and managing director Andrew Nussbaum.

want to be working anymore,” he said. Kuttnauer urged them to act quickly.

“(I told them) ‘You have to get it on the market right away because you’re burnt out, and the only thing that’s going to happen now is your business is going to start going down,’” he said.

Another reason to list before burnout sets in, says Kuttnauer, is that owners who no longer enjoy running their business tend to undervalue its worth and end up listing at too low an asking price.

“If you’re finding that you’re burnt out but the business is still successful, that’s the time to sell,” said Kuttnauer. “That’s the timing side.”

Do Seek Professional Valuation

On the flip side, Kuttnauer warned that owners who still love the day-to-day but know it’s time to retire might overvalue their business, making it even more important to hire an expert who can weigh things out.

And while technically experts like CPAs can throw a listing onto the market, their valuation knowledge of things like how industry performance affects asking price is limited.

“You should get somebody that knows how to value a business and ideally someone that is certified to do business valuations,” Kuttnauer said. “Not every CPA is certified to do business valuations. They’re certified to do tax returns.”

Likewise, relying on a realtor to list medi-

um- to large-scale businesses means forgoing confidentiality, since the majority of realtors are bound by National Association of Realtors guidelines requiring all listings to be added to the MLS. Meanwhile, certified business valuation experts provide discreet strategic marketing tools like private databases that match businesses with buyers, including private equity firms looking for area-specific acquisitions. That’s especially helpful for owners who don’t necessarily want their employees and customers knowing that the company is for sale.

Do Normalize Financial Statements

Part of the valuation process is normalizing profitability. That means sitting down with clients and getting the lowdown on their business spending. While many owners mix personal and business expenses, like including personal dinners or vacations under business costs or even keeping family members on payroll in roles that don’t fully reflect their contributions, Kuttnauer says that owners getting ready to sell have to be real about what expenses a new owner will actually incur.

By identifying these non-essential expenses, clients can “add (them) back in to normalize or recast” their financial statements, he says.

“We need to normalize their income statement to [reflect] reality… to under-

stand what the true profitability of their business is,” he said.

(Maybe) Don’t Keep It In The Family

Speaking of family, Kuttnauer advises sellers to be wary of blind spots when selling to a family member or even a trusted employee and said owners should evaluate their successor’s ability to lead the business into the future.

“You may have someone that’s really good at managing the day-to-day operations, but they don’t have the strategic long view of managing the business for the long-term,” he said. “How will they do when the economy goes bad? Do they have the business aptitude and acumen to

lead the business during tough times? If the answer is that they’re good at managing the day-to-day but lack long-term vision, then that’s not a good person to sell the business to. It will likely fail.”

Another key consideration is the financial capability of the potential buyer.

“Is the person you’re selling the business to able to come up with the down payment and secure a loan to buy the business, or are you going to be the bank that they’re going to be using?” Kuttnauer asked.

When it comes to securing retirement bliss, relying on a land contract or taking on the entire note can be risky, Kuttnauer said.

“If they don’t succeed, you’re on the hook,” he said. “All you can do is take back the business – and you’re no longer retired.”

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RIGHT-TO-REPAIR BILL

Farmers seek right to repair own equipment as survival element

By Rick Haglund

Farmers have long repaired their own equipment among the myriad chores required to keep their operations running smoothly – and hopefully at a profit.

But that’s becoming harder to do as tractors, mechanical harvesters and other agricultural implements that can cost hundreds of thousands of dollars are filled with computer software and other components that manufacturers and their authorized dealers control.

For local cherry farmers, an equipment breakdown during the harvest season could mean the loss of an entire crop if there’s a wait for parts or service at the dealership.

“If there were three people ahead of you waiting for repairs, it could be devastating,” said Grand Traverse County Sheriff Mike Shea, who continues to grow cherries on the family farm on the Old Mission Peninsula. “Literally hours during the harvest can determine whether you survive or not.”

As a result, farmers and other owners of software-laden products across the country are demanding that equipment manufacturers provide them and independent shops with repair parts and tools. Massachusetts, Colorado, New York, Minnesota, Maine, California and Oregon have passed so-called “right-to-repair” laws covering a broad range of devices, including cars and trucks, consumer electronics and power wheelchairs. Thirty other states, including Michigan, have rightto-repair bills pending, according to the Public Interest Research Group.

Proposed Michigan legislation, introduced last year by state Rep. Reggie Miller

(D-Van Buren Township) would limit the right to repair to agricultural equipment.

“This bill will save Michigan’s farmers time and money by giving them the freedom to make their own repairs and maintenance decisions,” she said in introducing the legislation.

Rep. Betsy Coffia (D-Traverse City), said she became a cosponsor of the bill after several farmers in her district said it would be help in allowing them to repair equipment in real time.

If the legislation doesn’t pass by the end of this year, Coffia, a member of the House Agriculture Committee, says it would likely be reintroduced next year for the 2025-2026 legislative term.

“I’m eager to see it move as soon as possible,” she said. “It’s good, bipartisan legislation.”

The bill would create the Agricultural Equipment Repair Act, requiring that specialized tools and repair equipment, including software, be made available to the owners of agricultural equipment. It would also require repair equipment be provided to independent shops and farmers at “fair and reasonable costs” and at “fair and reasonable terms.”

The bill is supported by the Michigan Farmers Union, a statewide organization based in Isabella County. The Michigan Farm Bureau, the state’s largest agricultural group, says it does not have a position on the bill. But the bureau has several memorandums of understanding with a few manufacturers to give farmers access to tools and computer diagnostic equipment.

Three area farm implement dealers contacted for this story did not respond to multiple requests for comment.

But in testimony about the bill before the House Agriculture Committee, Joel Markwat of Burnips Equipment in Dorr, near Grand Rapids, said the legislation “would destroy the financial incentive to (authorized dealers) to train technicians and parts staff.”

Markwat said dealers would not stock parts because “they could not afford to warehouse and inventory them” if forced to sell them to farmers and independent repair shops “at cost.”

The worst part of the bill, he says, is a provision that would allow the state attorney general to sue an agricultural equipment manufacturer in circuit court for a violation of the proposed act. A manufacturer that knowingly violates a court order would be subject to a civil fine of up to $25,000 for each violation.

“This could open up litigation and cripple dealers that support the agriculture industry, destroying already slim margins and taking profits that are shared with team members in wages and benefits,” Markwat said.

Michigan Attorney General Dana Nessel last year joined 27 other state attorneys general calling on Congress to pass expansive right-to-repair legislation that would include autos, agricultural equipment and digital electronic equipment.

Nessel said original equipment manufacturers have created a “monopoly” on repairs that has resulted in higher prices for consumers. A federal right-to-repair bill covering autos is pending in the U.S. House.

But Jeff Send, a longtime Leelanau County cherry farmer, said he’s not sure a right-to-repair law would provide much benefit. That’s because he and many other local farmers mostly rely on older tractors,

harvesters and other equipment that don’t contain computer software.

And he said the risk of having someone not properly trained to fix a sophisticated tractor or harvester is too big.

“You can end up screwing up more stuff,” he said.

Many, Shea said, cannot afford expensive new equipment at a time when the cherry industry faces an existential threat to its future. Extreme weather, plunging prices and increased competition from foreign imports make farmers like Send and Shea wonder how much longer they can hang on.

“If that’s all I had to worry about...,” Send said about right-to-repair legislation.

But Coffia says a right-to-repair law would be a boon to many farmers, especially those who grow row crops such as corn, beans and potatoes and typically use larger tractors than cherry farmers.

“At the end of the day, we need to do what’s best for the farmer,” she said.

House Bill 4672, the Agricultural Repair Act, would do the following:

- Require manufacturers and dealers of agricultural equipment to provide equipment owners and independent repair shops with parts, tools and documentation needed to diagnose and repair such equipment.

- Make tools and other repair equipment available at “fair and reasonable costs” and at “fair and reasonable terms.”

- Allow the state attorney general to sue manufacturers and dealers who violate the act in circuit court.

STILL ON TRACK

North-South passenger rail project

enters critical phase two study

By Art Bukowski

Since the idea was first floated six years ago, the concept of a passenger railway connecting Ann Arbor and Traverse City has attracted considerable attention.

While much of the early reaction was (and remains) positive, some are starting to question if the project will ever break ground.

Those leading this initiative say that not only is it very much alive, but that it took a huge step recently with the hiring of a consultant for a phase two study that will in essence deliver a business plan for what is for now called Michigan’s NorthSouth Passenger Rail Project (while initial messaging focused on Ann Arbor, project leaders are now not entirely sure where the southern terminus of the service will be, with Detroit also a possibility).

“We found a firm that we love, we’re just so excited to start the journey with them,” said Carolyn Ulstad, transportation program manager for Groundwork Center for Resilient Communities.

Ulstad says she could not name the

in the project along with the Cadillac/ Wexford Transit Authority. The Michigan Department of Transportation, Federal Transit Administration (an agency within the U.S. Department of Transportation) and the Federal Railroad Administration

“It’s like, ‘Great, another study. Why not just build it?’ And we would love that, too. But the reality is you have to have a good plan in place before building something like this.”

– Carolyn Ulstad, Transportation Program Manager, Groundwork

firm hired until a contract was signed. It was in the process of being finalized at press time.

The north-south rail idea began with a feasibility study published in 2018 by Groundwork, which is now a lead partner

are also involved.

According to the feasibility study, establishing upstate-to-downstate rail service has the potential to attract 1.5 million riders and generate $100 million in revenue by 2040. The phase two study

is designed to take the project from concept to working reality. When the 18-24 month study is complete, it should deliver all of the working specifics of the project.

“It’s going to answer a lot of the questions that we’re eager to answer, and that we know the public is interested in, too,” said James Bruckbauer, transportation and community design program director at Groundwork. “How fast are the trains going to go? How much is it going to cost? Where are the stops going to be located? Should it be a private operation, or public? It’s going to look at all of those details.”

There is $2.3 million secured in state and federal funding allocated to the phase two study, Ulstad and Bruckbauer say. But major funding sources beyond that will, of course, be vital for an initiative that would cost tens of millions of dollars to bring to life.

Ulstad and Bruckbauer

While all the required rail is in place (“We’re already halfway there,” Ulstad said), substantial upgrades would be required to the rail itself, along with significant investments in supporting infrastructure. The phase two study is, among many other things, going to look at the most efficient direction of funds.

“We were really specific that we want to have an itemized list that outlines the biggest bang for our buck. What’s the first priority thing to fix? What’s the first, second, third most important thing to do?” Ulstad said. “That way we can be really targeted and go after funding for those specific things that make the most sense.”

The completed phase two study will in itself unlock state and federal funding sources that require applicants to have a detailed, specific plan before applying for money.

“Having that service development plan, all those components that we’re doing in this next phase, is essentially what gets you to the level that you can start then applying more aggressively and competitively for those other grant dollars,” Ulstad said.

It’s possible that funding normally allocated to commercial rail services could be available, Bruckbauer and Ulstad say, since the rails used for this project are also used by commercial services (and will

continue to be).

“For the business community, we want to see…improved freight traffic along with passenger service, and we’re making the case for both,” Bruckbauer said. “When you’re making improvements for freight, it’s helping passenger rail. When you’re making improvements for passenger rail, it’s helping freight.”

The crew at Groundwork is braced for potential criticism of more time studying the project. But it’s just the nature of the beast, they say, especially when the relatively slow wheels of government are involved and the project is so massive in scope.

“It’s like, ‘Great, another study. Why not just build it?’” Ulstad said. “And we would love that, too. But the reality is you have to have a good plan in place before building something like this.”

Aside from the steering committee made up of Groundwork, the Cadillac/ Wexford Transit Authority and various state and federal agencies, the project also has an advisory committee made up of representatives from communities that are expected to have stops along the line. This two-way flow of information is expected to solve other critical questions, like what happens when people step off the train at one of the many stops.

“That last-mile solution will be key. Whether it’s public transportation, ride share, car share, rental cars, I can see a mix of different options for people to be able to get around once they’re in a community,” Bruckbauer said. “That’s definitely going to be part of the study and something we discuss with these communities.”

Bruckbauer and Ulstad are hopeful that this last-mile solution might not be all that hard to crack.

“One of the big benefits is that most of these communities grew up around being a stop on the train line, and that means the train will be going right through downtown,” Ulstad said. “So when you do get off as a passenger, you’re not in the middle of nowhere…you’ll be somewhere where you have people and services around you.”

A realistic goal is to have the service up and running by 2030, the Groundwork team believes, though it’s possible some phases could be online sooner.

“It could start with trains that operate not on a regular schedule, but on a flexible schedule so that it can take advantage of the most amount of travelers at any given point, and then you could add service as demand and interest grows from there,” Bruckbauer said.

BIGGER AND BETTER

BATA’s new facility designed to facilitate growth, cut inefficiencies

By Art Bukowski

New digs for northern Michigan’s largest transportation authority will result in increased efficiency, better service and an organization poised to grow alongside the region it serves.

So say leaders at the Bay Area Transportation Authority (BATA), which last month moved into a purpose-built new headquarters at the intersection of LaFranier and Hammond roads south of Traverse City.

The 87,000 square-foot facility brings all of BATA’s operations under one roof and is part of a larger mixed-use development being completed in collaboration with the Traverse City Housing Commission. The housing commission is building a 200-unit apartment complex and 15 single family homes in partnership with Habitat for Humanity immediately north of BATA’s new facility.

The TCBN caught up with BATA Executive Director Kelly Dunham and Communications Director Eric Lingaur to find out what’s new and what’s next.

Bringing it all together

While BATA’s former headquarters from 1986 until the recent move was at the junction of Cass and South Airport roads, it leased several other properties for bus storage, employee parking, training and more. Aside from the financial

burden of these leases, there was considerable uncertainty about their long-term availability.

The headquarters itself was also undersized from the day it was built, Dunham says, and the situation just got worse as the years rolled on.

“At the time it was built, the agency had like 40 employees and 25 vehicles. And now have 85 vehicles and 150 employees, and we squeezed as much as we could possibly squeeze out of it,” she said. “We turned pretty much every closet into an office. We stuck a light pipe in the

that’s big for the future. We have to be fiscally responsible and wise with the very limited resources we operate with.”

Almost all BATA vehicles were stored outside before the move, leading to costly wear and tear on the vehicles. They’re now stored inside, which helps both with maintenance and cuts down on the need for drivers to trudge through snow or rain to get to their vehicles.

“Here, we have indoor storage of our fleet, and the improvements on the day-to-day life of a driver that that will provide is immeasurable,” Dunham

“We just really weren’t in a sustainable situation. (Our new) facility provides operational efficiency by consolidating everything onto one campus, and that’s big for the future. We have to be fiscally responsible and wise with the very limited resources we operate with.”

– Kelly Dunham, Executive Director, BATA

ceiling and called it good.”

Bringing everything under one roof will allow BATA to reroute money previously spent on leases to increased services and other better uses, Dunham says.

“We just really weren’t in a sustainable situation,” she said. “(Our new) facility provides operational efficiency by consolidating everything onto one campus, and

said. “That’s something that’s not going to be seen in dollars and cents, but it’s going to be seen in job satisfaction, morale, retention.”

A garage with heavy duty equipment also allows BATA to make repairs on large vehicles that previously had to be sent as far away as Grand Rapids, another major cost savings.

Location is key

The new facility sits at the southern gateway into town, and that’s by design. Kingsley, Buckley and other points south have long been expected to see significant growth in the coming decades. Unlike the cramped Cass Road facility, there are 40 park-and-ride spaces (with the potential for more) at the new facility that allow folks to leave their vehicles and catch a BATA bus into town.

“People can just come, park for the day, take the bus right to downtown Traverse City and come back and not have to worry about parking and traffic and whatever construction project is going on,” Lingaur said.

The hope is that people in the county’s southern tier can be enticed to use this service, and the best way to get there will be to reduce wait times, something BATA is working on now. Wait times are one of the biggest barriers to people using buses, transit officials say.

“If a bus comes frequently enough, there’s a better chance people will leave their vehicles here and use the service,” Lingaur said. “The time that they’d be on the bus is the time that they’d be hunting for a parking spot or walking from wherever they need to walk, things like that.”

Dunham and Lingaur are also excited to be a part of a new housing and transit campus that they hope will serve as a model for other communities.

“If a bus comes frequently enough, there’s a better chance people will leave their vehicles here and use the service. The time that they’d be on the bus is the time that they’d be hunting for a parking spot or walking from wherever they need to walk, things like that.”

– Eric Lingaur, Communications Director,

BATA

“It’s really going to paint a real-life picture on how people can live in this area and rely on public transportation for the majority of their transit needs,” Dunham said. “Having this as a model for people to truly reduce some of their expenses and increase their disposable income can really give people a leg up that is difficult to find otherwise.”

It was a long process, but one that Dunham and the entire BATA leadership team feel good about.

“It certainly was not the easiest path to build a new facility – it took us two and a half years to get the PUD (planned unit development) approved by Garfield Township – but it’s what we believe is best for this community,” Dunham said. “It’s an opportunity for BATA to do something more than just move people around. We’re looking at a systemic problem in our community and taking a strategic approach to solving that.”

Other updates

Here’s a look at other current initiatives at BATA, as shared by Lingaur: Airport service pilot: BATA receives a number of requests for transportation to and from the airport from both residents and visitors. BATA is exploring how public transportation can better meet airport transportation needs especially in the early morning hours (before 6am) and

evening hours (after 11pm) where transportation options are limited.

New fare system: BATA will be upgrading its fare collection technology with a complete fare system review. The new fare system will include both new on-board and mobile ticketing functionality to make it easier for riders to pay for their rides. It will also explore different fare payment options and possibly fare incentives for frequent riders.

Service expansion: BATA’s new headquarters and LaFranier Park-n-Ride transfer area offers opportunities for service expansion throughout BATA’s network. The Transit Master Plan that BATA adopted in 2022 also outlined increasing north/south connections from the South Airport and Hammond corridors and expanding frequency to surrounding villages in both Grand Traverse and Leelanau counties.

Bus stop placemaking: BATA is always looking for ways to make waiting for the bus more convenient and enjoyable by strategically adding bus shelters, benches, better wayfinding and other multimodal amenities such as bike racks throughout its fixed route network. BATA will continue to work with public and private partners such as the Michigan Department of Transportation, the Traverse City Downtown Development Authority, Traverse City Light & Power, East Bay Township and more to improve its bus stop locations.

2 0 2 4 M e m b e r E x h i b i t

OAB MEMBER RECEPTION

OCT 25, 5-7 PM

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OCT 26 - NOV 3 10AM - 4PM

Lingaur and Dunham

Dr. Jeffries expanding practice as Copper Aesthetics offers surgical options

Dr. Christopher Jeffries has been making a difference in people’s lives for more than 20 years. He continues to look for new and innovative ways to help his patients and clients improve their health and feel better about themselves. That is the motivation behind Copper Aesthetics, his longtime medical spa, as well as his clinical practice.

Now he is taking that one step further, as The Center for Plastic Surgery becomes part of Copper Aesthetics. It is simply a continuation and extension of his commitment to helping people look and feel their best. All told, the staff boasts 60 years of collective experience in aesthetic skin treatments and body procedures

Dr. Jeffries has long been renowned for his abilities. For the fourth year in a row, he has been recognized as one of the country’s best plastic surgeons by Newsweek. As a physician dedicated to providing the best care for his patients, he recognizes that while not everyone needs his surgical services, people still want to present their best selves. That is why 12 years ago he and his partner, Dr. Steve Thomas, opened their medical spa, which later became Copper Aesthetics.

Now, as the logical next step, he is combining the two businesses to offer clients all the options in one place. Actually two, as Copper Aesthetics has offices in both Traverse City and Petoskey.

How has this transition affected the Center for Plastic Surgery?

It is not going away, it is simply transitioning into the Copper Aesthetics brand. Absorbing the Center for Plastic Surgery into the facility, and name, provides more options and less confusion for clients. Dr. Jeffries is proud to offer the only aesthetic experience in northern Michigan that has the full continuum from injections to surgery. The dedicated staff members at Copper Aesthetics will continue to provide

the best in care for those who need non-surgical options.

Does everyone need plastic surgery?

No, and that is in large part what is behind this transition. For some people, the words “plastic surgery” sound too intimidating, but the goal of the practice is to approach patients from where they are and where they want to be. That is also the approach at Copper Aesthetics. It only makes sense to combine the two.

It is still and always will be all about the patient’s desire. That can take many forms, and while most people don’t need surgery, everyone wants to look and feel their best.

What is a Medical Spa?

Medical spas, sometimes referred to as med spas, offer medical grade aesthetic procedures in a relaxing environment. Such treatments can include injections for wrinkles, fillers for restoring volume loss, laser therapies for repairing damaged skin, laser hair removal, acne therapy, hair transplantation and medical-grade facials and peels.

What makes Copper Aesthetics different?

It is the only medical spa in Northern Michigan owned and operated by an award winning, board-certified plastic surgeon, Dr. Jeffries. It is able to offer a variety of surgical and non-surgical treatments to meet patients’ goals. Plus, it has two locations meaning wherever you are in northwestern lower Michigan, the facility is nearby.

Why should I consider visiting Copper Aesthetics? What services does it offer?

As we age, our bodies change. Fatty deposits accumulate in areas resistant to diet and exercise. Bags under the eyes may form or become more pronounced. There may be decline in collagen and elastin production, which support elasticity and help the skin

maintain its shape. Copper Aesthetics is equipped to provide solutions to all these challenges with the latest in medical technology, including various body sculpting solutions, microneedling, dermal fillers, microlaser peels, and lasers. Treatments for rosacea and acne include Broadband Light (BBL) laser treatments, which use light energy to diminish the results of sun damage, acne, redness, fine lines, and more. Their signature laser treatment utilizes both HALO and BBL and is the best in the industry for pigment and radiant skin in one laser treatment. ClearV, an additional laser, is specific for small blood vessels like spider veins.

How do I know what procedure will help me?

Copper Aesthetics offers a comprehensive consultation, utilizing VISIA Skin Analysis, that will help guide you to determining which products and procedures will provide the results you are looking for. There is also an online Virtual Consultation tool to help get you started.

When can I see someone?

The office in Traverse City is open Monday through Friday and in Petoskey Tuesday through Friday. You can book an appointment online or call us to find a convenient time to stop in.

Where is the practice located?

Copper Aesthetics has two offices, one in Traverse City at 4110 Copper Ridge Drive, Suite 242 in Building D. The other is in downtown Petoskey at 410 E. Lake Street.

Do the two offices offer the same options and procedures?

The Petoskey location offers injections such as Botox and Dermal Fillers as well as skin treatments including Moxi laser, HydraFacial, microneedling and treatments for both hair loss and hair removal, all in a welcoming, comfortable environment. “It’s a fun departure from a doctor’s office,” says Dr. Jeffries. “You can go shopping, stop in to get a sunblock or some advice about your product regimen and continue on with your day.” Dr. Jeffries does consultations there every week.

The office in Traverse City includes all the procedures available in Petoskey in a comfortable medical office. The HALO and ClearV lasers are headquartered in Traverse City, as is a “full-field” resurfacing laser for patients wanting the deepest laser treatment offered anywhere in Northern Michigan. In addition, it includes an accredited operating room and team, as that is where Dr. Jeffries performs surgeries.

ROAD CONSTRUCTION REPORT CARD

Five businesses share impact from Grandview Parkway/East Front Street rebuild

By Craig Manning

Just how much does the Traverse City business community rely on the region’s key thoroughfares? It’s a question that got tested this year as the Michigan Department of Transportation (MDOT) launched an ambitious rebuild of East Front Street/Grandview Parkway.

The project, which cost nearly $25 million and spanned 2.2 miles of highway in the Traverse City core, is not complete. From its March start, work on the Parkway isn’t expected to finish up until November. But with peak tourism season over, now seems like a good time to ask: Just how impactful was this project on local businesses? The TCBN asked five different organizations located along the impacted corridor – a retailer, a restaurant, a nonprofit, a business office and a motel – for their opinions.

“The first three months had us thinking things would be fine, and then the last five or six weeks surprised us and ended up being much more difficult.”

- Sebastian Garbsch, owner, Blue Goat Wine & Provisions

The business: Blue Goat Wine & Provisions

The classification: Retail The impact: 4/5

The first week of construction was a rocky one for The Blue Goat, the wine shop that sits at the corner of Peninsula Drive and East Front Street.

Early sidewalk removal in front of the store destabilized one of the building’s foundation walls, causing a crack up the building’s exterior stucco. Speaking to TCBN sister publication The Ticker at the time, Blue Goat owner Sebastian Garbsch said it appeared that when the sidewalks were repaired in the past, concrete was poured directly up to the building; ripping that sidewalk out caused the destabilization.

“It was funny: Four to six weeks

before the project, I mentioned to the building owner that it might not be a bad idea to build a few extra supports in the basement, just in case,” Garbsch said. “Boy, did that pay off. In the end, the building was never unsafe, according to engineers that looked at it, and although repairs were needed, it was just another one of those inconveniences. We had a large mountain of back stock that we had to keep on the upper level, for example, but we finally cleared that in mid-August.”

The building damage wasn’t even the peak of The Blue Goat’s construction-related troubles, though. When asked to grade the severity of road closure impacts on a scale of one to five – with one being the least severe and five being the most –Garbsch notes that the latter weeks of the project were actually slower for business than the earlier ones.

“I would say a two for the first three months, but a five the last month,” Garbsch said. “The last month (of the project’s first phase) was June, and that’s when we begin relying on tourists. It’s usually one of our busiest months. But given that June was also when construction on our intersection was being done, the way to get to us was very difficult for customers to find and changed quite often. The first three months had us thinking things would be fine, and then the last five or six weeks surprised us and ended up being much more difficult.”

The business: Bubbie’s Bagels

The classification: Restaurant The impact grade: 2/5

Home to the likes of Bubbie’s Bagels, Thai Café, Benjamin Twiggs, The Omelette Shoppe and Wild Birds Unlimited, Traverse City’s Campus Plaza generated significant attention during the early weeks of the construction, with many tenants posting detour maps on social media and encouraging customers to “brave the construction” to support their businesses. On March 13, Benjamin Twiggs even shared a photo of an empty Campus Plaza parking lot on Facebook, pleading with customers to stop in for a visit. “This is

not normal, and we cannot survive three months of this,” the post stated.

But while the first few days were slow, Bubbie’s Bagels owner Sam Brickman says the closure “was definitely not as bad as expected.”

“The worst part of the construction was the first week, when people were really scared to even come near the area in fear that it was going to be a mess,” Brickman said. “Once people realized what a good job MDOT did with the detours, and were able to find their routes again, things really came back.”

Ultimately, Brickman notes, business at Bubbie’s Bagels actually ended up “very slightly up from last year’s number for the same time period.”

The business: hemming& Wealth Management

The classification: Business office

The impact: 1/5

hemming& is one of the businesses that operates out of 600 East Front St., the mixed-use commercial building located right across the street from the Delamar. That location, which sits right at the junction between East Front Street, Grandview Parkway and downtown Traverse City, ensured that hemming& faced impacts during both phases of the project.

Nevertheless, company president Dawn Hemming said those impacts were largely easy to navigate.

“Construction this summer did not affect our business much,” Hemming

said. “We had to be agile in guiding our clients on best routes for entry, and every time we thought we knew the best route, it changed. But (construction contractor) Team Elmer’s did a magnificent job of being efficient and organized, and all in all, it was a great summer.”

There were a few unique aspects to doing business in the middle of a construction zone, though. Hemming recalls one instance where a team member had to play chauffeur for the day to meet the needs of a client.

“At one point, one of our elderly clients felt overwhelmed trying to navigate her way through construction to our office, so one of my staff went and picked her up for her appointment,” Hemming said. “That was new.”

The business: Big Brothers Big Sisters of Northwestern Michigan (Bigs) The classification: Nonprofit office The impact: 1/5

Coming into this year, Bigs’ CEO Cecilia Chesney was fretting about the impact of the East Front Street construction on her organization. Located kitty-corner across the street from The Blue Goat, the Bigs office had a front-row seat to the project’s first phase, and Chesney was worried about the spot becoming unreachable for employees or workers, and about slow detours and their impacts on productivity.

Looking back at the March-to-July stretch now, Chesney says she needn’t have worried.

“Honestly, our expectations of the road construction’s effect on our work, our clients, and navigation around town were probably 10 times worse than it was,” Chesney said. “It was truly a minor inconvenience. There were a few times when the digging shook our building a bit, but that was the most obvious issue.”

Chesney praises MDOT and Team Elmer’s for their work communicating details about the project ahead of time, including timelines for road closures and advised detours.

“We had access to so much information ahead of time, so we all had time to develop a plan,” she said.

The business: Grand Traverse Motel The classification: Lodging/hospitality The impact: 5/5

Positioned at the corner of East Front and Gilbert streets, the 18-room Grand Traverse Motel was one of several lodging properties impacted by the road construction. Christine Allie, the motel’s owner, reckons that it was the hospitality businesses along the corridor that were most fiercely impacted by the road closure.

“There was a lot of ‘locals supporting local businesses’ (during this project) which is great, but locals don’t support hotels,” Allie explained. “It’s just not the nature of the business. You can’t really support a hotel by shopping locally.”

Without the local support that helped businesses like Bubbie’s Bagels and The Blue Goat get through the construction process, the Grand Traverse Motel suffered. Typically, Allie said, the motel gets advance bookings for its rooms in the summertime, but mostly relies on walk-ins during the off-season. No road meant no walk-in traffic, which hindered the motel’s spring performance.

“We had no road (in front of our business) until the end of May, and then we only had road going out of town until the end of June,” Allie said. “And because that road going into town was closed until

Street intersection, to go on to State Street – nobody went past our motel going into town.”

Grand Traverse Motel faced issues with advance bookings, too.

“If you went to book on Expedia and then Googled our address, Google Maps would tell you we had no road,” Allie said. “We definitely had people who would call and say, ‘We were going to book with you, but it says the road is closed.’ And then we had guests stay when the whole road was missing, and they’d post reviews saying that the motel was under construction and we should have let them know. The motel was not under construction, but when you’ve got a review saying ‘It’s so loud with all the construction noise,’ it’s hard to refute that. So that hurt our business and was impactful with advance bookings.”

All told, Grand Traverse Motel ended up down 40% year-over-year for the

month of June. April and May are slower months even in a good year, Allie says, but both were down “by about a third” compared to 2023 numbers. Those slow months alone will mean a below-average year for the property.

“Every week counts for tourism businesses in Traverse City,” Allie said. “We lose money all winter, and then the summers, those weeks are where we have to make it all up. So, losing that was hard. I wasn’t expecting to lose from the end of March until the end of June. The whole thing was just a lot more painful than I thought it would be.”

The good news? Once Team Elmer’s wrapped phase one of construction in late June, Grand Traverse Motel was right back to business as usual.

“Immediately, when the road was open, our numbers were on par, day-for-day, with the last two years,” Allie said.

LUNCH SPECIAL

Noontime leadership program returns to Traverse City Country Club

By Ross Boissoneau

Business people are busy folks. Morning meetings, Zoom calls, putting out fires, plus doing whatever is needed to run their business means there usually isn’t a lot of time to get together with other business people, nor to develop new skills or build on old ones to help grow their businesses.

So, Barbara Jordan decided to offer a program to help businesses recover from the Great Recession – at lunchtime. The Leadership Lunch Club at the Traverse City Country Club offered attendees an alternative to grabbing a sandwich at their desk. Instead, they could learn what others were going through and how they were addressing their challenges.

“When it started (in 2012), we were recovering from the recession,” Jordan said.

She believed that smaller businesses were still bearing the brunt of the economic downturn and hearing from their peers would provide them with ideas and motivation, so she invited local leaders to share leadership tips from a book they had read.

“I was working as a consultant and coach. From my experience, most leaders or managers usually have one best practice,” she said. Many times, those came from a favorite book, such as Stephen Covey’s “The 7 Habits of Highly Effective People,” “The One Minute Manager” by Kenneth Blanchard and Spencer Johnson, or Seth Godin’s “Purple Cow.” So, why not have local leaders talk about how they took lessons from the books many already had on their shelves?

She reasoned that hearing from their peers would not only give them insights but provide them with some motivation themselves to take what they might have been reading about and translate it to helping their own business as had the speaker.

“Featuring a book was part of the model to give people value,” said Jordan. Besides, she added, “(n)ational leaders (cost) a lot of money.”

The program’s success could be measured not only in the attendance but how long it lasted.

“We had at least 50 events,” said Jordan. Then the pandemic struck.

“I had the 2020 season all planned out,” she said. “We were selling out, then had to shut down, pivot and regroup.”

She offered another series in 2021, but wasn’t sure if or when she wanted to continue.

Jordan cut back on her own professional work in 2022, and people continued to ask her when the program would start up again. Eventually she gave in, and the series is relaunching Oct. 4 with Northwestern Michigan College President Nick Nissley as the first presenter.

“I look at leaders in town who have had successes. I heard great things about Nick’s leadership,” Jordan said.

Nissley says as an academic he’s always been drawn to books.

“My basement is a mini-library,” he said.

But he wanted to be sure to provide something of value.

“I was at the Leadership Development Institute in Canada for five years and became somewhat jaded,” he said, noting that many books simply don’t relate to real-life challenges.

One book he believes does provide value is “Transitions, Making Sense of Life’s Changes” by William Bridges. He first read it more than 20 years ago, and remains moved by what he calls its “simple elegance.”

“There are three stages, and any transition begins with an ending, letting go of the past,” he said. “I like the profoundness of that.”

He says the book talks about not racing ahead to the new beginning, but accepting the middle transition period – the neutral zone – though it may be uncomfortable.

“It’s chaos, uncertainty, but it’s also the greatest generator of possibilities,” Nissley said. “You swim around, get tugged and pulled in different directions.

“There’s a negative connotation to disen-

chantment, but Bridges says disenchantment … allows you to embrace endings to create new beginnings. Disenchantment isn’t a bad thing.”

Nissley says he felt a little guilty choosing a book originally published in 1980, but he still finds it useful.

“I do utilize this model every day. It’s an archetypal model. There can be profound endings in terms of death, or using a new software program. We can apply it day in and day out,” he said.

Following Nissley will be Eric Roberts on Nov. 8. The former executive director of the tech incubator 20Fathoms will be speaking on “Leadership in the 5 Generation Workplace” from the book “Sticking Points” by Hadyn Shaw.

Kevin Klein, CEO at Cherry Capital Airport, will close the current season Feb. 14 with “Leading Growth and Change” from John Maxwell’s “Laws Of Leadership.”

Jordan anticipates a full house for each of the speakers.

“I heard, ‘So, Barbara, when are you going to start up the lunch club again?’ I think people are anxious to come back,” she said.

The Leadership Lunch Club takes place at the Traverse City Country Club. Cost for the program is $59. For more information, go to LeadershipLunchClub.com.

Leadership Lunch founder Barbara Jordan

Nissley

A PERFECT FIT

Mark Gerlando aims to get customers ‘one with the bike’

By Art Bukowski

When you get right down to it, almost every human body is at least a tad asymmetrical. Everybody’s built a little differently.

And when you put all of those different bodies on mass-produced bicycles, which are quite symmetrical, everyone will have a slightly different interaction with the machine. While being a bit off-balance isn’t often the end of the world for casual cyclists, it can be quite detrimental to performance athletes and those who rack up the miles.

Injuries can occur. Performance can suffer. Fatigue can be exacerbated. A proper, professional bike fitting can prevent all of this, and that’s where Mark Gerlando comes in with his business Ride Science. From his office on State Street in Traverse City, Gerlando serves about 300 clients a year, many of whom travel to town specifically for his services.

“About half of my clients drive more than two hours to get here,” he said.

The TCBN sat down with Gerlando to find out more about Ride Science and why people seek Gerlando out.

Dialing it in

While he can and has fitted all types of cyclists, the bulk of Gerlando’s clients compete in triathlons or other endurance sports. For these folks, long periods in the saddle can lead to significant issues. The relatively rigid road bikes used in these

in a hurry.

“When it comes down to cycling or any endurance sport (there’s focus on) training and nutrition and all that stuff, but obviously the equipment is massive,” he said. “You have to have the right equipment, and it’s got to be the right equipment for you.”

The goal is to help clients get the best fit from a biomechanical standpoint. While peak performance is always desirable, Gerlando is quick to point out that

“It’s probably from my trading days, but I’ve always liked doing research or figuring out the story behind things. Just like the market has a story to it, the human body has a story to it. How do I get that body one with the bike?”

– Mark Gerlando, Owner, Ride Science

sports lack the shocks and other forgiving components found in mountain and casual cycles, and a bad fit can cause problems

his number one goal is injury prevention. That can take finesse in what he calls “the most repetitive sport in the world.”

“When your feet are locked in and you’re sitting there creating these forces, something has to stabilize you. It’s going to be your back, your neck and shoulders, your hips,” he said. “And people are doing 10,000 revolutions in an hour in roughly the same plane of direction. When you have the wrong fit, that’s where all the aches and pains – and potential injury – happen.”

Most clients come in already experiencing a problem, Gerlando says, though some of his fittings are entirely preventative in nature. He uses a variety of hightech equipment (most of it connected to software) that allows him to see a client’s motion and – more importantly – pressure points and problem areas. From there, it’s a matter of adjusting everything to properly fit the client, and switching out gear where necessary.

“I tell people to bring in whatever they have, extra stems and saddles and things like that,” he said. “The stuff I have here (is from bike shops in town)…and we will test that stuff out too, trial and error.

Gerlando inside his State Street office.

Tools available for family business transitions

10 reasons why beneficiary designations are important

10 tips about beneficiary designations

Transitioning your family business to your heirs may sound simple enough, but in fact, doing it successfully can prove difficult. To help improve your transition’s chances for success, consider family business governance.

1. Remember to name beneficiaries. If you don’t name a beneficiary, one of the following could occur:

• The account or policy may have to go through probate court. This process often results in unnecessary delays, additional costs, and unfavorable income tax treatment.

This is a system of correlated tools and actions to support the next generation with controlling, owning, and operating the business. It also puts in place a framework that contains business protocols, describes how future ownership changes occur, and establishes a precedent for making business decisions.

• The agreement that controls the account or policy may provide for “default” beneficiaries. This could be helpful, but it’s possible the default beneficiaries may not be whom you intended.

Frequently used tools

2. Name both primary and contingent beneficiaries. It’s a good practice to name a “back up” or contingent beneficiary in case the primary beneficiary dies before you.

There are several tools that can be employed as part of a family business governance system, including:

A buy-sell agreement is a legally binding contract that stipulates how an owner’s share of a business may be reassigned if triggering events occur, the price that will be paid, and the payment structure.

3. Update for life events. Review your beneficiary designations regularly and update them as needed based on major life events, such as births, deaths, marriages, and divorces.

4. Read the instructions. Beneficiary designation forms are not all alike. Don’t just fill in names – be sure to read the form carefully.

A family employment policy document can be kept within the family for private use or incorporated into the business’s human resource documentation. It sets expectations for heirs, spouses, and extended family members about such issues as how they can obtain employment in the business, the requirements to attain key positions, the compensation standards to be used, and incentive language for family members.

5. Coordinate with your will and trust. Whenever you change your will or trust, be sure to talk with your attorney about your beneficiary designations. Because these designations operate independently of your other estate planning documents, it’s important to understand how the different parts of your plan work as a whole.

A distribution or dividend policy is key in setting expectations with family members regarding what distributions they should expect to receive from the business. Business owners must balance the need for cash to maintain or grow the business with the desire to receive distributions.

6. Think twice before naming individual beneficiaries for particular assets. For example, you establish three accounts of equal value and name a different child as beneficiary of each. Over the years, the accounts may grow unevenly, so the children end up getting different amounts – which is not what you originally intended.

7. Avoid naming your estate as beneficiary. If you designate a beneficiary on your 401(k), for example, it won’t have to go through probate court to be distributed to the beneficiary. If you name your estate as beneficiary, the account will have to go through probate.

A professional board of directors is a governing body that helps oversee the business and makes major decisions. A board generally comprises three, five, or seven professionals from various industries that have the subject matter expertise to assist the company strategically.

A family board or council is a group within the family — or may include the entire family — that comes together to make decisions about the business on the family’s behalf.

8. Use caution when naming a trust as beneficiary. Consult your attorney or CPA before naming a trust as beneficiary for IRAs, qualified retirement plans, or annuities. There are situations where it makes sense to name a trust – for example if:

A company mission statement can be valuable to your employees and your family as it addresses the business’s purpose and vision and can help guide future company leaders.

• Your beneficiaries are minor children

• You’re in a second marriage

Your estate plan can address ownership, control, distributions, and several other factors.

• You want to control access to funds

Even in cases like these, understand the tax consequences before you name a trust as beneficiary.

The business’s governing documents should be reviewed at the same time the family business governance system and tools are put in place. Revisions to these documents or corporate resolutions stored in the corporate minutes may be needed to align these documents with the company’s governance system.

Helping ensure a successful transition

9. Be aware of tax consequences. Many assets that transfer by beneficiary designation come with special tax consequences. It’s helpful to work with an experienced tax advisor, who can help provide planning ideas for your particular situation.

Transitioning the family business to the next generation is much more than transitioning shares. A well-thought-out and documented plan that addresses ownership, control, and operations helps build a strong governance system for your business. This system, combined with communication with the next generation, can be key to helping ensure your transition’s success.

10. Use disclaimers when necessary — but be careful. Sometimes a beneficiary may actually want to decline (disclaim) assets on which they’re designated as beneficiary. Keep in mind disclaimers involve complex legal and tax issues and require careful consultation with your attorney and CPA.

JULIAN | BLACK

Wealth Management Group of Wells Fargo Advisors

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By Jennifer Ewing, columnist

Employee recruitment continues to be a struggle in today’s labor market, particularly for small employers who are already stretched thin. Finding the time needed to conduct interviews can be a challenge. Technology offers ways to streamline this process, and one increasingly popular method is using video or audio recordings to pre-screen candidates. This approach not only saves time but can also provide better insight into potential hires earlier in the process.

Traditionally, applicants are initially screened by reviewing resumes and making introductory phone calls. This method works to some degree but often fails to provide a complete picture of the person and can be time-consuming. Resumes can be misleading because they show technical skills but don’t reveal much about someone’s personality or people skills. Phone screening, while more personal, can be difficult to set up and might not demonstrate how well a person communicates or how enthusiastic they are about the job. By incorporating video or audio recordings early in the hiring process, you may be able to gain a more comprehensive view of the candidates. Through candidate’s responses, you can see how they present themselves and hear them explain their experiences or skills to you rather than just relying on the resume and cover letter. In both cases, candidates can answer questions relevant to the job, leading to insights into their fit for the role.

Scheduling phone screens, even short ones, can be a logistical nightmare. Video and audio pre-screening allow candidates to respond on their own time and for employers to review the submissions when it fits best into their schedule. This flexibility can significantly shorten the hiring timeline, enabling businesses to move quickly and avoid losing candidates to competitors. Additionally, when candidates are able to record responses, it can reduce the pressure of on-the-spot interviews.

Video recordings allow employers to observe body language, facial expressions and other non-verbal cues that are crucial in assessing fit for roles; especially those that may require customer interaction or teamwork. Audio recordings, on the other hand, can be particularly useful in evaluating candidates for jobs that rely heavily on verbal communication, such as customer service or sales. The clarity,

FACE TIME:

Leveraging video and recordings for pre-screening saves time, increases insight

tone and confidence in a candidate’s voice can provide important clues about their suitability for the role.

Unlike the traditional initial phone interview, multiple individuals within the organization can view or listen to candidates’ responses. So, instead of relying on one person’s notes and opinions, a team can evaluate the candidate and make a group decision about who to move forward in the hiring process.

To ensure that all candidates are evaluated on the same criteria, it is important to use standardized questions. Asking consistent questions also makes it easier to compare candidates directly, highlighting those who stand out. This promotes fairness and helps eliminate biases that might arise from unstructured interviews. By having consistent questions, you can focus on the most relevant skills and experiences that align with the job requirements, making the selection process more objective and faster. While video and audio pre-screening offer many benefits, it’s important to be aware of potential pitfalls to avoid unintended consequences. Not all candidates may have access to the technology needed to participate in video or audio recordings. Additionally, there may be extremely qualified candidates that have a disability that prohibits the ability to utilize these technologies. You don’t want to inadvertently exclude talented candidates who lack the necessary resources, are uncom-

fortable with or unable to utilize the technology. Consider offering alternatives when appropriate. And be sure to provide clear, simple instructions for those who might need extra help.

Video recordings in particular can introduce visual biases, such as judgments based on appearance or background setting. As with an in-person interview, it’s

When done right, video or audio pre-screening can help you find the people who will help your business thrive in a competitive market.

crucial to train hiring managers to focus on content rather than superficial aspects. It is also important to clearly communicate with candidates the intention of the recording so that they are prepared with professional dress and background. To ensure a positive experience, provide clear guidelines and make sure candidates have a thorough understanding of the job and what is expected from them in the pre-screening process.

When writing questions, ask questions

that focus on job-related qualifications, experiences and abilities. Utilize scenarios and behavioral questions that align with the job’s key requirements. Avoid overwhelming candidates with too many questions; aim for three to five focused questions that can be answered within a few minutes.

Choosing the right tools is also important. There are plenty of platforms out there that can help you manage video and audio pre-screening. Pick one that fits your budget and is easy to use for both you and the candidates. There are a number of specialized platforms, such as Spark Hire or HireVue, designed around offering these technologies. Or you might find these tools embedded in your applicant tracking system or online services such as Indeed.

Using video and audio pre-screens can enhance your recruitment process by making it easier to get a fuller picture of candidates. However, like with any tool, it’s important to use it thoughtfully. Keep in mind potential challenges, like technological issues or unconscious biases, so you don’t miss out on great talent. When done right, video or audio pre-screening can help you find the people who will help your business thrive in a competitive market.

Jennifer Ewing is a partner with Human Resource Partners in Traverse City and works with employers on the people-side of business.

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By Kierstin Gunsberg

Like a lot of high schoolers, John Woodruff spent his weekends jamming out with friends. Back then, they’d mess around with four-track cassette recorders and experiment with sound in a way that might cause today’s graduating class to Google “What does ‘analog’ mean?”

Now, as one-half of the digital instrument startup Oddment Audio, Woodruff and his collaborator Paul Evans are developing the next wave of music technology.

Based out of Traverse City, Oddment Audio established in spring of 2023. Its first product is a granular synthesizer called Groc. The compact, sunshine yellow synth is the stuff of garage band daydreams.

“It’s something that musicians and music producers would use with the keyboard or with something called a sequencer,” said Woodruff, who started his career out in music production. “I was interested in producing records and composing music and playing and performing.”

When utilizing production tools like sound processors and effects led Woodruff to explore the technical aspects of music production, he realized he was just as excited about that side of things as he was the creative end. To bolster his understanding of the science of sound, he pursued a Ph.D. in computer science, which eventually led him to Apple where he helped develop their iOS and Airpod Pro.

While working for a FAANG (an acronym for the five best-performing American tech stocks in the market) added some cred to Woodruff’s resume, his main goal had always been to develop his own audio products. So, when he met Evans, who had been working on a concept for the granular synthesizer that would eventually become Groc, Woodruff says he knew he had found his first product.

“I just thought it was a fantastic idea…it was great timing,” he said.

Woodruff likens the Groc to a sampler in its ability to “stretch time and shrink time and change pitch and do all these things independently of one another.” But, unlike a sampler, which just offers pre-recorded audio, granular synthesizers like Groc are able to create entirely new sounds. Woodruff says that versatility will appeal to musicians of all levels as well as producers, including those working on film scores.

Right now, Oddment Audio’s marketing strategy is to get their synthesizer into the hands of early adopters who can drive organic traffic through social media marketing on video sharing platforms like TikTok and YouTube. Woodruff says that niche synth blogs have already featured Groc, which is now available for pre-order for a $100 deposit.

“We’re planning to sell at least the first batch for $795,” plus tax and shipping, said Woodruff, who hopes to deliver by spring of next year.

As the company prepares to send out Groc’s beta units, the biggest challenge in getting the instrument to market is consumer expectations.

“The customer expectation of a product like this is very high,” said Woodruff.

As for how his start as a creative has landed him on the development side of performance, Woodruff sees it as a linear arc.

“My whole career has been tied to sound,” he said. “I think the arc kind of went from (me) being excited about creating compositions to focusing a little bit more on some of the technical subproblems and kind of developing out the engineering side.”

20Fathoms sponsors this column. Designated by the Michigan Economic Development Corporation as the Small Business Support Hub for Northwest Michigan, 20Fathoms is a nonprofit organization providing critical services for the region’s entrepreneurs. It specializes in accelerating the growth of innovative and scalable startups. Learn more at 20Fathoms.org.

TCNewTech Pitch Prize Sponsor Josh Traeger of True North Legal Group with John Woodruff and Paul Evans of Oddment Audio.

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Tomorrow is on.

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BOOK REVIEW

By Chris Wendel

During our work careers, most of us will go through a significant workplace transition. It may be a new manager or management team, or weathering a new ownership change. In the past few years it’s become trendy for companies to change things up simply to shake things up or improve the bottom line.

Major organizational transitions may seem more common in larger corporate situations than in northern Michigan. Yet locally we have recently witnessed the transition of a major employer evolving into a publicly traded company, the merging of medical facilities, and longstanding family-owned companies changing hands. And with the number of people working in our region that work virtually, the impact of this work upheaval definitely impacts us.

The recently released book, “The Problem with Change,” addresses the collateral effects that new regimes and changes bring to an organization. The book’s author, Ashley Goodall, has extensive experience as an executive, leadership expert and author. His earlier book, “Nine Lies About Work,” dispelled workplace myths, helping readers better understand how work can be more fulfilling and human.

Goodall emphasizes the idea that there are challenging employee impacts when a change-making effect comes in to make its mark. He interviews longstanding employees trying to withstand multiple waves of reinvention with what Goodall terms “life in a blender.”

The book’s first section focuses on this theme of “change for the sake of change” and the impact it has on the people that are left to carry on and pick up the pieces. Goodall traces the roots of general change in corporate values to the 1970s and ‘80s, when stockholder dividends become more of a priority than the well-being of employees. He uses firsthand accounts from people on the front lines to demonstrate the upheaval that frequent transitions have on employees and overall company morale, disrupting connections and meaningful work.

After stressing the inherent problems with companies and employees experiencing constant with this instability, Goodall uses some vetted research and expertise to present strategies to retain constancy. The meat of “The Problem with Change” then presents useful tools for those managing front-line, human resources and middle management.

One key is to not micromanage employees but to provide autonomy so they have some control to navigate on their own. This can be done while retaining understood guardrails based on a set of quality standards and values. There is a balance between providing total autonomy and being connected with the expectation of good work.

Goodall writes, “The ultimate job of leadership is not disruption, and it

The Problem With Change and the Essential Nature of Human Performance

By Ashley Goodall

is not to create change; it is to create a platform for human contribution, to create the conditions in which people can do the best work of their lives.”

Goodall describes a number of ways that leaders can help their employees be resilient through tough transitions. These include having weekly team check-ins that aren’t overly planned but encourage relevant, spontaneous ideas and contributions. Maintaining these rituals are critical for building resilience and a close group bond.

Readers will appreciate the chapter “Speak Real Words” that centers on the need to steer away from the jargon and buzzwords that so-called changemakers carry with them. This has to do with bringing in nebulous new names for strategies, identity statements, teams and projects which replace longstanding terms that have been embedded into a company and its history.

Goodall stresses using short, simple, clarifying words that stand up over the long term.

At times it may be a challenge to take a deep dive into “The Problem with Change.” I found myself drawn to Goodall’s initial premise, but at times the book lacked enough flow to consistently read it through. This is not to say that one can’t find interesting scenarios, examples, and solutions for managing and working in a world that is constantly changing.

Chris Wendel works for Northern Initiatives, a mission-based lending organization based in Marquette, Michigan. Northern Initiatives provides funding to businesses throughout Michigan and online business resources through its “Initiate” program to organizations and small business owners throughout the United States. Wendel lives and works in Traverse City.

>> FINANCIAL SERVICES

1 - Janie Shier recently joined Prout Financial Design in Traverse City. Shier brings more than 20 years of administrative experience, specializing in client relations, to her new role.

2 - Judy Suszek recently joined the administrative team at Prout Financial Design in Traverse City. Suszek brings extensive experience to the team.

>> HEALTH CARE

3 - Amanda Porter, M.D., has joined Novello Specialty Clinic inside Copper Ridge Surgery Center in Traverse City as a neurologist. Dr. Porter treats various neurologic conditions, including Alzheimer’s disease, frontotemporal dementia, strokes, headaches, seizure disorders, and balance and walking difficulties.

Munson Healthcare in Traverse City announces the following personnel news:

4 - Grace Breuer, M.D., has joined the Elmwood Primary Care team. Dr. Breuer has a special interest in women’s health, including contraception, prenatal care, lactation medicine, and perinatal mental health, as well as substance use disorders, and pediatrics.

5 - Joseph Frazee, D.O., has joined the neurology team. As a comprehensive neurologist, Dr. Frazee treats patients with a wide array of neurologic conditions. His special interests include migraines and other headache disorders.

6 - Aeman Hana, D.O., has joined Traverse Heart & Vascular. Dr. Hana enjoys educating patients about nutrition, exercise, and medication management.

7 - Beau Johnson, a certified physician assistant, has joined the neurosurgery clinical team.

8 - Cory Messingschlager, M.D., has joined the gynecology oncology team at Munson Healthcare. Dr. Messingschlager has a special interest in the treatment of fibroids, endometriosis, adenomyosis, abnormal uterine bleeding, and chronic pelvic pain conditions.

9 - Desiree Miller, nurse practitioner, has joined the Advanced Wound Center.

10 - Devin Rohde, physician assistant, has joined the Advanced Wound Center.

11 - Neil Shaw, nurse practitioner, has joined the clinical team at Traverse Heart & Vascular.

12 - Alex Weick, M.D., has joined Munson Healthcare Digestive Health. Dr. Weick’s special interests include quality metrics in endoscopy and management of colon polyps, especially complex or advanced polyps.

>> NONPROFIT

13 - Brinley Bruton has joined Norte Youth Cycling in Traverse City as director of communications and marketing. Most recently, Bruton worked for Fernhaus as general manager of Outpost in Traverse City. She brings a variety of private sector experience to her new position championing cycling and community engagement.

2 // JUDY SUSZEK 3 // AMANDA PORTER 4 // GRACE BREUER

1 // JANIE SHIER

5 // JOSEPH FRAZEE

8 // CORY MESSINGSCHLAGER

9 // DESIREE MILLER 10 // DEVIN ROHDE

7 // BEAU JOHNSON

11 // NEIL SHAW

6 // AEMAN HANA

12 // ALEX WEICK

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14 - Haven Carmichael has joined Big Brothers Big Sisters of Northwest Michigan as a mentoring specialist. Carmichael brings experience advocating for various demographic groups, including children and individuals with disabilities, to her new role.

15 - Brittany Trout recently joined Habitat for Humanity Grand Traverse Region as its development coordinator. Trout works with volunteers in a variety of settings and also helps organize fundraising events.

16 - Sara Vaughan is the new director of conservation at the Grand Traverse Conservation District. Vaughan brings extensive conservation expertise spanning more than a decade to her new role, including work with The Nature Conservancy and the National Park Service.

17 - Alex Zelinski joined Norte Youth Cycling in Traverse City as its director of operations earlier this year. Zelinski is responsible for leading strategic initiatives across the organization and stewarding corporate partnerships. Most recently, Zelinski was director of corporate partnerships for The Festival Foundation, which hosts the National Cherry Festival and other area events.

>> REAL ESTATE

18 - Lisa Bibbee has joined Century 21 Northland’s Traverse City office, where she specializes in waterfront luxury residential sales.

19 - Stephanie Holbel has joined Traverse Real Estate in Traverse City. Holbel recently celebrated her second year in real estate.

20 - Jessica Roth has joined Traverse Real Estate in Traverse City. Roth has been practicing real estate for four years.

21 - Karly Wentzloff of Real Estate One in Traverse City, has been named Aspire North REALTORS’ 2024 REALTOR of the Year. Wentzloff was nominated and chosen by her peers for her professional accomplishments, community involvement, commitment to the association and industry, and dedication to the REALTOR Code.

>> OTHER

22 - Andrew Pawlowski has joined Crystal Mountain in Thompsonville as group sales manager. Pawlowski brings a background in hospitality industry sales, including corporate group business, large event space, and business travel accounts, to his new role.

23 - Todd Reid has been named field manager for the Traverse City Pit Spitters. Reid has been a key figure in the Pit Spitters organization since its inception, joining the coaching staff in 2019 as the team’s Bench Coach. Reid’s coaching career spans more than 25 years, with significant achievements at both the NCAA Division III and NAIA levels.

24 - Eric Sika has joined Sonny’s Body Shop in Traverse City as a parts assistant. Sika brings a background in parts sales and management at a local car dealership to his new role.

Please send Newsmakers by the 10th of the month to news@tcbusinessnews.com

14 // HAVEN CARMICHAEL 15 // BRITTANY TROUT 16 // SARA VAUGHAN

13 // BRINLEY BRUTON 17 // ALEX ZELINSKI

20 // JESSICA ROTH 21 // KARLY WENTZLOFF 22 // ANDREW PAWLOWSKI

19 // STEPHANIE HOLBEL

23 // TODD REID

18 // LISA BIBBEE

24 // ERIC SIKA

ROCKIN’

40 YEARS & COUNTING NORTHERN MICHIGAN

Northern Michigan icon, Terri Ray, has rocked the airwaves since 1984 on KLT The Rock Station As Program Director and creator of the ultra-popular Lunch at the Leetsville Cafe, Terri has built KLT into one of the market’s highest rated radio stations and has kept it there for decades Her passion for radio and commitment to our community are big reasons why

You can see Terri in person this summer as she takes her show on the road with Lunch At The Leetsville LIVE - A look back at four decades of rock & roll in Northern Michigan

Janna and Mark Goethel, Shea O’Brien and Chelsie Niemi gathered at Rove Winery for the 40Under40 event Sept. 5. This year marked the 18th anniversary of TCBN’s annual 40Under40 list of influencers and the ninth year Hagerty has served as signature sponsor.

Lander Bachert, TBCAC; Joe Hurshe, Munson; Janie McNabb, Networks Northwest; Amy Shamroe, City of TC; Dino Hernandez, NMC; Matt Richmond, City of TC; and Paul Mackin, GT Metro Emergency Services Authority, gathered at the Park Place Hotel for Traverse Connect’s New Executive Welcome Cocktail Hour. The event is an opportunity for business and community members to meet

Jeff Schmitz of J.S. Capitol Group, the developer who built the Hotel Indigo, broke ground Aug. 23 on “The Syndicate,” a new 110-room Marriott Tribute hotel in downtown Traverse City slated to open late 2026.

The Warehouse District in downtown Traverse City was the focus of Michigan’s Creative Coast’s first annual Fresh Coast Quarterly Club Locals’ Summer Staycation Sept. 19. The event is “intended to showcase the unique businesses and organizations that create special community places and lifestyle destinations across the Grand Traverse region.” It included a QR Code Scavenger Hunt between the participating “Staycation Destinations” around the District.

40Under40 winners Courtney Lorenz, Max Anderson and Miriam Owsley at the 40Under40 event at Rove Winery. Each September the TCBN spotlights 40 local professionals under age 40 who excel in their economic impact on the region and in the community.

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