State OKs $4.1 million private bond sale for Warren-based Packaging...
Lindsay VanHulle - LANSING — Corrugated packaging manufacturer Packaging Specialties Inc. won state approval for a private bond sale to finance moving its Ecorse production facility to a larger site...
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Detroiter Suzanne Shank named chairman, CEO of restructured Wall Street bond...
Tom Henderson - Detroit-based Suzanne Shank has become majority owner of Siebert Brandford Shank & Co. LLC, a leading municipal finance and underwriting firm on Wall Street, while former HUD...
View ArticleMoody's gives positive rating to Michigan's road funding deal
Lindsay VanHulle - LANSING — A package of road funding bills Gov. Rick Snyder signed into law this week will have a positive effect on more than $1 billion in state transportation bonds, according to...
View ArticleHome-buying/home rehabbing in Detroit
Crain's Detroit Business - Mortgages and home-repair loans have been difficult to come by in a city plagued by a decades-long population flight and what the Detroit Blight Removal Task Force determined...
View ArticleSnyder signs legislation to promote financial education for high school students
Associated Press - LANSING — Gov. Rick Snyder said financial literacy courses will help Michigan high school students be better equipped to understand and manage their personal finances. Snyder's...
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Ann Arbor-based Truck Hero plans $240 million IPO
Tom Henderson - Truck Hero Inc., a fast-growing maker and seller of aftermarket parts for trucks and SUVs based in Ann Arbor, hopes to raise about $240 million in an initial public offering Friday.The...
View ArticleSurvey says 94% of life science companies plan acquisition in 2016
Tom Henderson - Executives at life science companies around the world think it's a good time to go shopping. Fully 94 percent of life science companies are planning to do an acquisition next year,...
View ArticleMilford-based bank plans to raise $5 million as it looks at growth
Tom Henderson - Milford-based Huron Valley State Bank, a small two-branch community bank that has consistently been profitable in recent years, earning a string of five-star ratings from Fort...
View ArticleLow interest rates have intended, unintended consequences
Tom Henderson - The federal funds interest rate at which banks borrow, known as the overnight rate, is set by the Federal Reserve. It has averaged 5.93 percent since 1971, with the all-time high of 20...
View ArticleLooking back: Consolidation means fewer banks, bank headquarters in Michigan
Tom Henderson - The national bank consolidation binge that has seemingly put new signs out in front of your local branch every few years has changed an industry that was once hyperlocal. As recently...
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Despite good intentions, BIDCOs failed to fill new-biz funding gap
Tom Henderson - On Nov. 25, 1985, Crain's published a story about a Senate committee in Lansing approving a BIDCO, an acronym for business and industrial corporation, whose purpose was to fill the gap...
View ArticleNov. 25, 1985: State considers law permitting bank-like bidcos
Charles Child - Editor's note: As part of the commemoration of our 30th year, Crain's Detroit Business is revisiting stories from 1985. This story first appeared in the Nov. 25, 1985 issue. In a...
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Bank executives see potential interest rate hike as long overdue
Tom Henderson - Bank stocks jumped on Nov. 6, immediately after the U.S. Bureau of Labor Statistics announced that the economy added 271,000 jobs in October, much better than economists had been...
View ArticleCity pension funds clean up books as they ready for investments
Robert Snell - Detroit's two multibillion-dollar pension funds for city workers are poised to invest money for the first time since the city emerged from bankruptcy and a public corruption scandal cost...
View ArticleAll banks with HQ in Michigan seeing stars
Tom Henderson - State banks hit the bottom in March 2010, according to the quarterly ratings from Fort Lauderdale, Fla.-based BauerFinancial Inc.The company tracks the health of banks and credit...
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Rocket Mortgage blasts off with 8-minute mortgages
Marti Benedetti - Quicken Loans Inc. has launched a new service for desktops and smartphones called Rocket Mortgage with the promise that consumers can obtain a mortgage in eight minutes on their...
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Quarton Partners merges with German investment banker
Tom Henderson - Quarton Partners LLC, an investment banking firm based in Birmingham, has merged with a German investment banker to help make more and bigger deals globally.Quarton and Munich-based...
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Citizens Bank CEO: 'The strong public-private partnership here is a model...
Tom Henderson - Bruce Van Saun, the chairman and CEO of Rhode Island-based Citizens Financial Group Inc., praised area business leaders and politicians for leading Southeast Michigan’s recovery from...
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Comerica Park refinancing highlights Ilitch financial maneuvers
Bill Shea and Robert Snell - A complex series of financial moves by Mike Ilitch last year included a previously unreported refinancing of Comerica Park and culminated in the pizza mogul tapping his...
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With debt mainly gone, Treetops may seek new financing
Chad Halcom - A popular Gaylord-area resort whose big-name owners include former Chrysler Corp. CEO Robert Eaton may be ready to seek new financing for improvements and growth after improving its...
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