Article Archive |
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2008 |
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July |
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July 21 |
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Air Service Expected To Decline
GRAND RAPIDS — Delta Airlines is severing service to and from Lansing’s Capital Region International Airport at the end of August and will discontinue passenger service to and from Toledo Express Airport effective Sept. 2. United Airlines will cease operations at the Kalamazoo/Battle Creek International Airport on Nov. 2. Northwest Airlines — Michigan’s largest passenger air carrier — is cutting 2,500 frontline and management jobs and will begin charging passengers $15 for their first checked bag. Both Delta and Northwest have added fuel surcharges to their frequent flyer award tickets.
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Airport Properties Boast Intermodal Access
GRAND RAPIDS — Gerald R. Ford International Airport has a variety of properties available for lease, with specific land uses ranging from industrial to airport commerce to rural agricultural. The airport is home to a 79-acre Foreign Trade Zone, as well.
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Airport Reaches Out To Get Airline Service
GRAND RAPIDS — Gerald R. Ford International Airport officials once again participated in the annual JumpStart Air Service Development Program to meet with various airline representatives.
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Baudville Celebrates 25th Anniversary
GRAND RAPIDS — In 1983, a local company set out to make computer games for Apple computers. Twenty-five years later, it is known for its award and recognition products.
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Benefits Seen From Early
Childhood Programs
GRAND RAPIDS — Early childhood is the focus of new programming announced today that intends to connect children from birth to age 5 with health care, community services and trained child care.
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Builders Exchange Hits
A Wall With Competitor
GRAND RAPIDS — The 97-year-old nonprofit Builders Exchange of Grand Rapids & Western Michigan, which gathers news about pending construction projects and distributes it to members, is running into a brick wall with a Web-based, for-profit competitor.
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ChoiceOne Income, Earnings Down
SPARTA — ChoiceOne Financial Services reported second quarter net income of $723,000, down form $901,000 in the second quarter of last year. Earnings per share for the quarter were 23 cents compared with 28 cents in the same quarter of 2007. Net income for the first six months of this year was $1.48 million, versus $1.90 million in the first half of 2007.
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City Sends NEZ Request To State
GRAND RAPIDS — A homeowner in the Turner Gateway Neighborhood Enterprise Zone is trying to become the first applicant there to be approved for a 12-year property-tax reduction from the Michigan Tax Commission.
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Community Shores Income, Earnings Down
MUSKEGON — Community Shores Bank Corp. today reported second quarter 2008 net income of $11,000, or 1 cent per diluted share, compared with net income of $18,000, or 1 cent per diluted share for the second quarter of 2007. Earnings for the first six months were $43,000, or 3 cents per share, versus $246,000, or 17 cents per share, for the first half of last year. According to Community Shores, the year-over-year results reflect the impact of net interest margin compression and a decline in asset quality, partially offset by higher non-interest income.
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Company's Success Spurs Building Purchase
WYOMING — While much of the building supply industry is in an awful slump, at least one local player is doing so well that it recently bought and moved into a bigger and better building.
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County And Attorneys Near Labor Agreement
GRAND RAPIDS — Kent County commissioners are likely to approve on Thursday a three-year labor agreement with the Assistant Prosecuting Attorney Association, whose membership has 37 full-time employees across four wage classifications.
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Creative Byline Growing
Its Base Of Customers
HOLLAND — Globe Pequot Press and Orange Avenue Publishing have joined Creative Byline, a local Web-based service that connects writers and publishers. Creative Byline’s subscribers already include Dutton Children’s Books, St. Martin’s Press, Tor/Forge, Lyons Press, skirt!, GPP Life, Zest Books, Tor Teen and Starscape — an impressive list for a company that’s only 11 months old.
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Credit Union May Park In City-Owned Space
GRAND RAPIDS — Parking Services Director Pam Ritsema said she is getting close to sub-leasing 2,322 square feet of retail space on Monroe Center to the Grand Rapids Family Credit Union, whose members are largely city employees and their family members. The space is in the century-old Phinney Building at 87 Monroe Center, near the southeast corner of Monroe Center and Ottawa Avenue.
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Downtown Improvement
Area Creates 'Momentum'
GRAND RAPIDS — A mid-summer survey of assessment payers in the downtown improvement district reveals that 82 percent perceive downtown as clean, 79 percent perceive it as safe, 79 percent believe downtown’s appearance has improved through the efforts of the Downtown Alliance, 78 percent would like to see additional beautification efforts, and 70 percent agree that downtown Grand Rapids is cleaner than other cities of its size.
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Griffins Hire Former NHL Coach
GRAND RAPIDS — The Grand Rapids Griffins, the city’s American Hockey League franchise, hired a head coach today for the upcoming season that had a tie to the DeVos family and spent more than three years as a head coach in the National Hockey League.
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Groundwater Industry Also Has A Voice
Editor:
I read your article "Great Lakes Water Rules Take Shape" (June 30, Business Journal). It is too bad that the other side didn't get any print. The groundwater industry could have used the help from a balanced and equal perspective. Mike Johnson said that "virtually everyone" favored the compact. Well, obviously he didn't look very hard. Most large-scale groundwater users were opposed. The computer-based scientific technology doesn't always show the true availability of groundwater supply.
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Hollowell Touts New Web Site
LANSING — Michigan’s Automobile and Home Insurance Consumer Advocate Melvin Butch Hollowell today announced the launch of the office’s Web Site, www.michigan.gov/lowerratesnow designed to provide consumers with information on automobile and home insurance rates.
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Independent Bank Posts 2Q Increase
IONIA — Independent Bank Corp. reported second quarter 2008 net income from continuing operations of $3.3 million, or 15 cents per diluted share, versus net income from continuing operations of $108,000, or zero cents per diluted share, in the prior-year period. For the quarter ended June 30, the company recorded net income of $3.3 million, or 15 cents per diluted share, compared to a net loss of $43,000, or zero cents per diluted share, in the second quarter of last year.
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It's A Lee Family Affair
GRAND RAPIDS — The Lees might be the very first family in the city’s history to renovate a commercial building together and then lease it to members of the family.
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Krueger Is Tied To Shoes
Blake Krueger, CEO and president of Wolverine World Wide, has been affiliated in some way with the Rockford company for 30 years.
ROCKFORD — "When people today ask me what I do, I usually tell them I sell shoes," said Blake Krueger, smiling.
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Michigan In The Middle
For Medicare Drug Premium
Twenty-five million elderly and disabled Americans were enrolled in the Medicare Prescription Drug Benefit program, also known as Medicare Part D, at the start of this year. More than 437,000 of them live in Michigan.
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Mortgage Groups Supported
SHELBY TOWNSHIP — The Federal Reserve and Treasury Departments actions to help ensure the continued availability of Fannie Mae and Freddie Mac home mortgage credit has the full support of the Michigan Mortgage Lenders Association and the Michigan Mortgage Brokers Association.
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New Film Office Touts This Area
The film office announcement was made from the set of the feature film, “Tug,” which will star Sam Huntington and Haylie Duff, being shot by Hopwood DePree at his TicTock Studios in Holland.
HOLLAND — The West Michigan Tourist Association has opened the West Michigan Film Office, which will work to bring the filming and production of feature films to communities throughout West Michigan. The announcement was made from the set of the feature film “Tug,” which will star Sam Huntington and Haylie Duff, being shot by Hopwood DePree at his TicTock Studios in Holland. Three other films are set to be shot in West Michigan pending approval of the state incentives.
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No Mystery Seen Here
GRAND RAPIDS — The city agreed this month to buy the NAPA Auto Parts store at 233 Market Ave. SW from the Genuine Parts Co. of Atlanta for $625,000, and plans to add the property to its Public Works Island, home to multiple city departments on nearly a 16-acre site at 201 Market Ave. NW.
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Nonprofits, Education Brace
For 403(b) Changes
GRAND RAPIDS — New tax rules for nonprofit and education retirement plans go into effect on Jan. 1, and dozens of West Michigan school districts have banded together to meet the regulations.
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OAK Income, Earnings Slip
BYRON CENTER — OAK Financial Corp., the holding company for Byron Bank, posted second quarter net income of $1.19 million, down 32 percent from the $1.75 million reported in the second quarter of 2007. Basic and diluted earnings per share in the quarter were 44 cents, a 32 percent decrease from the 65 cents reported in the year ago quarter. On a year-to-date basis, net income and earnings per share are each down 23 percent from the year-to-date period in 2007. The company indicated that the decline in net income is a result of higher loan collection costs and higher provision for loan losses.
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Official Floats Idea For Tax Break Proposals
PLAINFIELD TOWNSHIP — Even as Plainfield Township moves forward with a review of its industrial tax abatement policy, a broader conversation is beginning on a potential regional approach that could be used as an economic development tool.
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Perrigo Grows Allegan Plants
ALLEGAN — Perrigo Co. plans to invest $10.5 million to expand facilities at its Allegan headquarters, a move that will generate 400 jobs over the next five years, add operations and training space, and set the stage for future growth.
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Power Touts New Agenda For Michigan
GRAND RAPIDS — Forty-four state House seats are up for grabs this year, but 2010 will host the most critical election for Michigan’s economy, government and education system, said former newspaper publisher Phil Power.
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Preserving Links A Priority
Priority Health is trying to make sure that its 1,700 members who are General Motors white-collar retirees stay in the fold. Last week, GM announced it is discontinuing group health benefits for 97,400 salaried retirees, and will instead add a taxable $300 per month to their pensions to help them buy insurance.
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Regional Abatement Policy Sensible
Tax policy regarding exemptions or tax capture by tax increment authority districts have been the source of growing consternation in West Michigan, as counties and cities battle through budgets of dwindling revenue resources. Nearly all, however, accept that such policies have been influenced as much by those in Indiana, North Carolina or Texas.
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RNC: Weak Economy Calls For Tax Breaks
GRAND RAPIDS — There's a light at the tunnel for Michigan's economy — if the right choices are made, according to Carly Fiorina, Republican National Committee chair.
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SMF Venture Fund Finds 'Unique' Success
KALAMAZOO — The $50 million Southwest Michigan First Life Science Venture Fund has made another investment in a life science startup. The investment is the ninth the fund has made since it was established three years ago as a means of wooing young life science companies to the Kalamazoo area.
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Steelcase Links With Lab Firm
GRAND RAPIDS — Steelcase Inc looks to add to its $3.4 billion revenue of 2008 by announcing a partnership with Lab Crafters Inc. Lab Crafters is a Ronkonkoma, N.Y.-based manufacturer of laboratory products. The 30 year-old Lab Crafters feature products include fume hoods, case goods and other integrated laboratory solutions.
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Striving For Common Ground
A hot dog vendor serves customers on a summer night in downtown Grand Rapids.
GRAND RAPIDS — With a jewelry store leaving downtown, the district’s only bookstore hoping to get a liquor license to boost business, and 25 restaurants and taverns in the sector looking at cheaper nighttime parking to improve customer traffic, city commissioners have a decision to make that will affect the future of commerce throughout downtown.
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Verne Barry Place Debuts
Dwelling Place celebrated the completion of the renovation and new construction of Verne Barry Place at a dedication ceremony and open house July 15. Verne Barry Place, formerly the Dwelling Place Inn, is a $19 million major renovation of three existing historic buildings and the new construction of a LEED-certified five-story structure. Each of the former 88 apartments has been expanded in size to include private bathrooms and kitchenettes. The project also includes the addition of 28 new apartments. The facility will be able to house 116 residents, challenged with homelessness and disabilities. The new portion of the project is an extension of the Avenue of the Arts and houses seven additional live/work spaces for artists (shown above). Heartside Ministries will retain its home at Verne Barry Place.
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