Detroit schools dodge default after Michigan refinances bonds
Darrell Preston Bloomberg - Michigan issued $226.38 million of bonds in a private sale that will allow Detroit’s financially struggling school district to avoid defaulting on securities backed by state...
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Tosha Tabron, 39
Tom Henderson - At an age when most kids are still trying to figure out if they want to be a first-grader, Tosha Tabron knew she wanted to be a banker. "My parents walked me into a bank when I was 6...
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LaKeisha Florence, 34
Leslie Green - LaKeisha Florence had two dreams growing up. The first was to wear a business suit. Unsure of a specific career to accompany the suit, Florence followed the business track at Cass...
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Pillar arranges $11.8 million in debt refinancing on Capitol Park development
Kirk Pinho - The Bloomfield Hills office of New York City-based Pillar Capital Finance LLC has originated $11.8 million in long-term debt for a $37 million Capitol Park redevelopment. The Detroit...
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Gordie Howe bridge authority issues request for construction, finance proposals
Lindsay VanHulle - The authority leading an effort to build the Gordie Howe International Bridge said Thursday it asked three finalists to submit bids to design, construct, finance and operate the new...
View ArticleSurvey: Consumers happier with banks, health insurers this year
Tom Henderson - Consumers are happier with their banks, credit unions and health insurance than they were a year ago, according to the annual finance and insurance report issued Tuesday by the...
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Inflation holds steady for 'Twelve Days of Christmas' gifts
Tom Henderson - If you're looking to buy one of each of the gifts from "The Twelve Days of Christmas" song — a partridge in a pear tree, two turtle doves, pipers piping and so forth — for that special...
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Multiple CPAs keep fast-growing company's balance sheet strong
Rachelle Damico - Neetu Seth, president and CEO of NITS Solutions Inc., hired two CPAs to manage cash flow for the company's local and overseas operations. "I wanted to make sure my balance sheet was...
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New businesses can build track record in credit
Rachelle Damico - It's difficult for new businesses to establish credit lines with banks. "Typically, there's not collateral to establish credit for a startup company," said Michael Sosnoski, financial...
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GLR chief: Staff will benefit from financial professional
Rachelle Damico - Sandy Rosen, CEO and partner of GLR Advanced Recycling, has experience hiring many financial professionals, both outsourced and internally. "A lot of people discount the importance of...
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Outside accountant helps Detroit bar owner make inside decisions
Rachelle Damico - Angela Vincent, owner and manager of Detroit bar Liv Resto-Lounge LLC, which does business as MIX Bricktown, hired an accountant this September in order to manage growth and allow...
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Managing your firm's resources: Having the right people in place helps...
Rachelle Damico Special to Crain's Detroit Business - Michael Sosnoski, financial adviser for Troy-based Northwestern Mutual, helps an average of 50 business owners every year plan and pursue their...
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Detroit construction market eyes lending boost from Washington
Kirk Pinho - This year was one of the most active in recent memory for new construction projects in and around downtown Detroit — those being proposed and those with shovels actually getting in the...
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Kresge invests $3 million to bolster revitalization along Jefferson-Chalmers...
Sherri Welch - A $3 million program-related investment from the Kresge Foundation in the Enterprise Community Loan Fund will bolster revitalization along the Jefferson-Chalmers corridor in Detroit’s...
View ArticleUnited Shore agrees to $48 million settlement with Justice Department
Kirk Pinho - The United Shore Financial Services LLC mortgage banking company has agreed to a $48 million settlement with the U.S. Department of Justice, which said the Troy-based company didn't...
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Bank of Ann Arbor completes Bank of Birmingham acquisition
Tom Henderson - Arbor Bancorp Inc., the parent company of the Bank of Arbor, announced Tuesday morning that it has completed a merger announced in July to buy Birmingham Bloomfield Bancshares Inc.,...
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Lake Michigan Insurance Agency acquires Goddard-Talmay Insurance of Walled Lake
Annalise Frank - Lake Michigan Insurance Agency, a division of Grand Rapids-based Lake Michigan Credit Union, announced on Monday it is acquiring Walled Lake's Goddard-Talmay Insurance. Goddard-Talmay...
View ArticleKaufman Financial adds Colorado audit services company to portfolio
Kurt Nagl - H.W. Kaufman Financial Group has acquired Essential Insurance Services Inc., a premium audit services provider based in Colorado. Farmington Hills-based Kaufman announced Tuesday morning...
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Invest Detroit names Sarah McClelland COO
Tyler Clifford - Sarah McClelland was named the first chief operating officer of Invest Detroit, the Detroit-based nonprofit community development financial institution announced Thursday. The...
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United Shore Financial Services expands headquarters, plans to hire 600
Tyler Clifford - United Shore Financial Services LLC has expanded its operations by 20,000 square feet as the Troy-based mortgage lender plans to hire 600 people in 2017, the company announced this...
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