Small-business group expands in Southeast Michigan
Crain's Detroit Business - The Grand Rapids-based Economic Development Foundation has announced it is expanding to Southeast Michigan with the appointment of Beth Ann Arroyo as the senior loan officer...
View ArticleFirstMerit filings show perks of deal with Huntington
Jeremy Nobile Crain's Akron Business - Many investors expected FirstMerit Corp. to be an acquirer, not a seller, but the company seems to have been looking for a buyer as far back as late 2014. Recent...
View ArticleDetroit bondholders to wait nearly a year for annual financials
Darrell Preston Bloomberg News - Detroit's record bankruptcy hasn't solved one financial problem that's plagued the city for at least a decade: Getting its annual financial report done on time. Mayor...
View ArticleClik here to view.
UM professors, students lead startup with real-world uses for AI technology
Tom Henderson - There's nothing artificial about the round of funding that has been raised by Clinc Inc., an Ann Arbor startup focusing on real-world applications for artificial intelligence.Clinc was...
View ArticleOpinion: Port plan deserves study
Should state lawmakers expand the powers of the Detroit-Wayne County Port Authority to finance privately owned port facilities? The idea is worth serious study. As Bill Shea reports, the port authority...
View ArticleClik here to view.
Huntington Bank, Tom Gores unveil $25 million loan and grant program for...
Bill Shea - Detroit Pistons owner Tom Gores and Columbus, Ohio-based Huntington Bank on Wednesday unveiled a plan to make $25 million available in the form of loans and grants for businesses,...
View ArticleState eases oversight of Pontiac's finances following financial emergency
Robert Snell - The state restored most of Pontiac's control over city finances Thursday, citing progress made following seven years of oversight. Pontiac's mayor and City Council are now able to...
View ArticleClik here to view.
Commercial lender dedicated to underserved communities — including Detroit
Kirk Pinho - Melinda Clemons is on the front lines of commercial real estate financing in Detroit as a senior loan officer for the local office of Washington, D.C.-based Capital Impact Partners, a...
View ArticleAlly Financial to acquire TradeKing for $275 million
Dustin Walsh - Ally Financial Inc. announced Tuesday it plans to acquire Fort Lauderdale, Fla.-based online wealth management firm TradeKing Group Inc. for $275 million. The deal expands Detroit-based...
View ArticleBrokers upended by new tough rules for retirement advisers
Robert Schmidt and Margaret Collins Bloomberg - U.S. brokers managing retirement accounts must adhere to tough new standards under an Obama administration rule released Wednesday that aims to protect...
View ArticleClik here to view.
Fifth Third's new Detroit headquarters design to serve as national pilot
Tom Henderson - The brass at Fifth Third Bank's national headquarters in Cincinnati is so impressed with the new headquarters in downtown Detroit for eastern Michigan operations that it has decided...
View ArticleMichigan's credit unions lead push for commercial loans
Tom Henderson - Kirk Albert was a banker with Cleveland-based KeyBank for 24 years, the past four years in Ann Arbor as president of the Michigan market. He is now a symbol of the national and state...
View ArticleCredit union finds mergers have benefits
Tom Henderson - In 2004, Heidi Kassab, then 33, was named as one of that year's class of Crain's 40 under 40. The year before, she had been named president and CEO of Motor Parts Federal Credit Union...
View ArticlePatience and investing: Benefits of taking long view
David Sowerby - The first quarter is done, and, at best, the start to the year is similar to last year. It's rather uninspiring when you consider the stock market has been flat for the last 12 months....
View ArticleClik here to view.
Ex-Rock spokesman David Hall's new pitch: His own mortgage business
Tom Henderson - Starting Monday, David Hall will once again be a TV and radio pitchman for the mortgage business. But this time, it will be his mortgage business, Hall Financial LLC, not Dan...
View ArticleClik here to view.
Peter Karmanos joins residential mortgage industry
Tom Henderson - First it was David Hall. Now it's Peter Karmanos Jr.'s turn as a prominent Detroit area business leader who has surfaced as a principal in the booming residential mortgage business in...
View ArticleClik here to view.
Gemphire Therapeutics files for $60 million IPO
Tom Henderson - Northville-based Gemphire Therapeutics Inc., a cardiovascular drug development company, has filed form S-1 with the U.S. Securities and Exchange Commission for a $60 million initial...
View ArticleStephen Feinberg reduces stake in Ally Financial to less than 5%
Jenny Surane Bloomberg - Ally Financial Inc. director Stephen A. Feinberg sold almost half his stake in the Detroit-based auto lender after a shareholder-advisory firm faulted his ability to use the...
View ArticleOpinion: A bit of karma for Comerica
Comerica Bank's big headquarters move to Dallas in 2007 was its way of getting out from under its image as a stodgy, Rust Belt manufacturing bank. But some activist investors are now clamoring for...
View ArticleBirmingham-based Soaring Pine Capital buys Chicago tech firm
Tom Henderson - Birmingham-based Soaring Pine Capital has announced the acquisition of Chicago-based Technology Solutions Inc. through its Soaring Pine Capital Growth Fund I, funding the transaction...
View Article