GLBM October 2015

BUSINESS MONTHLY GR E ATE R LANS ING

OCTOBER 2015

FRONT COVER

Mid-Michigan’s Thriving Craft Beer Industry In this issue •

MAKER WEEK RETURNS TO LANSING IN FULL FORCE

•

HELP WANTED: LANSING BUSINESSES SEEK MORE EMPLOYEES

•

LANSING’S REAL ESTATE MARKET CONTINUES TO GROW

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OCTOBER 2015

Be Confident in your financial institution

For all your business financial needs, come to MSU Federal Credit Union. MSUFCU is a full-service financial institution that offers payroll services, lending options, merchant processing, and employees dedicated to helping your business succeed.

Contact an MSUFCU business service specialist today. www.msufcu.org/business • 517-664-4848

Federally insured by NCUA

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BUSINESS MONTHLY

BUSINESS MONTHLY G RE ATER L A N S I N G

OCTOBER 2015

News The Lansing Area Housing Market Continues to see Steady Growth.............................. 6 Help Wanted.................................................................................................................................................. 8

Features Mid-Michigan’s Thriving Craft Beer Industry In this issue •

MAKER WEEK RETURNS TO LANSING IN FULL FORCE

•

HELP WANTED: LANSING BUSINESSES SEEK MORE EMPLOYEES

•

LANSING’S REAL ESTATE MARKET CONTINUES TO GROW

Strange Bedfellows ................................................................................................................................. 10 Mid-Michigan’s Craft Beer Industry Sees Continued Growth in 2015........................ 12 Maker Week Showcases Lansing’s Build-it Spirit at Second Annual Event................. 16 Travis Fritts Brings a Decade of Brewing Experience to Williamston’s Old Nation Brewing Company............................................................................. 20 Fiscal Policy, the Recession Case...................................................................................................... 26

Cover photography by Mark Warner

The Greater Lansing Business Monthly (Volume 28, Issue 10) The Greater Lansing Business Monthly is published monthly by M3 Group at group 614 Seymour Street, Lansing, MI 48933.

Periodicals postage paid at Lansing, Michigan USPO. USPS number 020w807.

Subscriptions: Subscriptions are available at $22 per year for postage and handling or $38 for two years.

Call (517) 203-0123 or visit lansingbusinessnews.com to subscribe.

Postmaster: Send address changes to The Greater Lansing Business Monthly, 614 Seymour Ave., Lansing, MI 48933. Send additional subscription requests and address changes to The Greater Lansing Business Monthly, Inc., 614 Seymour Street, Lansing, MI 48933.

Copyright © 2015 The Greater Lansing Business Monthly, Inc. All rights reserved.

Departments Commentary ................................................................................................................................................. 4 Man on the Street ................................................................................................................................... 28 GLBM List ................................................................................................................................................... 30 Investments................................................................................................................................................. 32 Collectibles.................................................................................................................................................. 34 Legislative Update.................................................................................................................................... 36 Business Calendar.................................................................................................................................... 38 Notable News............................................................................................................................................. 40

Editorial Office: 614 Seymour Street, Lansing, MI 48933 lansingbusinessnews.com 2

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OCTOBER 2015

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Ready-to-Finish Cottage Shell on Big Pine Island

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C O M M E N TA R Y

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BUSINESS MONTHLY Publisher: Tiffany Dowling tiffany@m3group.biz Sales Manager: Jennifer Hodges jhodges@m3group.biz Media Specialist: Jill Bailey Account Managers: Megan Fleming Manny Garcia Production Director: Kelly Mazurkiewicz Art Director: Brooke Erwin Brand Manager: Ami Iceman Creative Manager: Mark Warner Editor: Alicia Pilmore Graphic Artist: Mike France

Michigan Brews Success

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lthough I’ve never really appreciated the taste of an ice-cold beer, I do appreciate the amazing industry that Michigan — and mid-Michigan — has built. Anecdotally, you can sense the pride that Michiganders have as it relates to the many varieties of brews that abound. It is so prevalent, and since I am curious by nature I even had a few sips of the more interesting beers like Short’s Brewing Company Key Lime beer. It was delicious.

As it turns out, variety in the craft brewing industry has made a major economic contribution in Michigan. As a businessperson, I’ve always understood that people like choices. And if someone doesn’t feel like they have enough options, they will create them. That’s what has happened; the boom of the microbrew industry has allowed a whole new generation to take market share from big beer companies.

In 2014, the breakdown in Michigan according to data collected by the Brewers Association (brewersassociation.com) indicates: Jobs = 7,137 Wages = $232,400,000 (direct, indirect and induced) Economic Impact = $608,900,000

Web Manager: Skylar Kohagen Event Calendar Manager: Jaime Hardesty

• Direct impact includes craft brewers, craft beer wholesalers and retailers that sell Michigan craft beer in Michigan, plus the value to Michigan brewers of beer sold outside the state.

GLBM Editorial Board: April Clobes — President and CEO, MSU Federal Credit Union Trish Foster — Senior Managing Director & COO, CBRE|Martin Lisa Parker — Director of Alumni Career and Business Services, Michigan State University Alumni Association Deb Muchmore — Partner, Kandler Reed Khoury & Muchmore Tom Ruis — Vice President, Fifth Third Bank Doug Klein — Executive Director, Mason Area Chamber of Commerce Mark Hooper — Partner, Andrews Hopper Pavlik Diontrae Hayes — Legislative Director for State Senator Coleman Young, II

• Indirect impact includes suppliers such as malted barley, hops, glass, marketing firms, brewing equipment, etc.

• Induced impact includes the effect of industry workers as they use their wages to purchase additional goods and services.

Most of the individuals I’ve run into that brew beer or have started their own bar featuring craft beer do it for the passion and love of beer. It simply goes back to the idea that people want to make a living doing something they love. The industry is much more saturated these days, and it might be tougher to get as large as a company like Short’s, but there is a way to make a living at it.

If you want to connect with a lot of other people making a living doing what they love, I encourage you to attend the last Connections & Coffee of the year on Tuesday, Oct. 20 at 8 a.m. at the University Club. Hear business leaders in the community talk about the ins and outs of this year and what’s new in their industries. It’s also a great month to take some time to visit local establishments in the beer brewing businesses. There are quite a few from Williamston to Mason to Lansing and beyond. Take your pick and try a pint of the more creative craft beers.

Be dynamic in all you do,

Tiffany Dowling | Publisher 4

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NEWS

The Lansing Area Housing Market Continues to see Steady Growth

BY MICKEY HIRTEN

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f you were buying a house this summer, the market was good; if you were selling, it was even better. And if you are waiting, the favorable market should continue into 2016.

The National Association of Realtors reported that the median home price of $135,200 in the greater Lansing area was up 11.1 percent in the second quarter compared with the previous year. Other indicators also reflect a robust real estate climate.

“I think the greater Lansing market will continue to have a strong year. Property values continue to stabilize and slowly increase. The inventory in specific pockets is thin and moves quickly,” said Matt Robertson, president of the Greater Lansing Association of Realtors (GLAR).

“Real estate was down for a number of years. But it’s cyclical like the stock market. Fortunately, due to economic stability and our diversity, we’re in the forefront of a good market.”

GLAR’s market analysis for August reported sales volumes topping $80 million and sales count — the total number of single family, condominium and townhomes sold — at 570, both up from August 2014. Among the local real estate firms that track region-wide statistics, Tomie Raines Inc. captured the strong showing through the first two quarters in its Greater Lansing Home Sales Statistics report. It found that the average sales price for homes increased to $141,482, compared with $129,201 for the same period in 2014 and that the number of units sold was 2,832 versus 2,746, a 3.1 percent gain.

“I think people are feeling pretty confident now. There’s a sense of confidence and 6

there are a lot of jobs,” said Beth Graham, who is slated to become GLAR president in January. She expects the strong market to continue as long as there are no international or national events that “cause people to pull back.”

The strength of the Lansing housing market mirrors a strong summer sales season nationally.

The RE/MAX national housing report of 53 metro areas surveyed in August reported that the average number of sales in August was up five percent yearover-year. For the first eight months, the increase was 5.8 percent.

“The Median Sales Price of all homes sold in August was $215,000, which was 7.5 percent above the price seen one year ago.

The inventory of homes for sale continues to challenge the market with 3.5 percent fewer homes for sale than in July. At the current rate of home sales, the resulting months supply of inventory in August still favors sellers at 4.1 on a scale where

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6.0 months indicates a market balanced equally between buyers and sellers,” RE/ MAX reported.

But real estate experts caution that broad sales and pricing numbers can distort a market that is extraordinarily local.

“Real estate sales are very specific to a community, to certain neighborhoods and school districts,” Robertson said.

Coldwell Banker Hubbell BriarWood produces a detailed quarterly report on home sales by community that illustrates the wide variation in pricing and time on the market throughout the region.

For example, in Lansing, for the quarter ended June 30, 2015, the average sale price for a home was $69,867, up 12 percent year-over-year. Average time on the market declined to 73 days from 77 days, and the time taken to clear the total inventory of homes declined to 4.2 months compared with 5.12 months a year ago.

NEWS

Compared with other communities, prices are well below the average. At the pricier end of the spectrum is Okemos, where the second quarter average sale price was $266,162, compared with $250,096 a year ago. Time on the market stretched to 68 days compared with 47 days a year ago, though still better than the regional time of 73 days. In East Lansing, the average sales price was $189,223, up 5 percent.

Time on the market was 60 days compared with 83 days a year ago.

Overall, BriarWood reported second quarter home sales for the region at 1,474 units with a total value of $210 million.

For the same period in 2014, units sold totaled 1,331 with a total value of $176 million.

“It’s totally a sellers market. There are fewer listings and the demand is very high,” said CEO Bob Hubbell. “We closed out August as the best pending sales

volume month in my company’s history.

Average price is up significantly; 2015 is by far our best year.”

Like others in real estate sales, Hubbell expects the strong market to continue into the coming year. “We are predicting, and the experts are saying, there will be four more years before they see any recession.”

While market fundamentals remain strong, Hubbell said new closing procedures ordered by the U.S. Consumer Financial Protection Bureau to address problems that contributed to the national housing meltdown will give buyers more time to review loan and closing documents. Buyers must be given an estimate form summarizing the terms of a mortgage and estimate loan fees and closing costs in a format that is easy to read and understand. They replace more technical truth-in lending and good-faith

estimate documents previously part of the house closing process.

Hubbell said he expects the change in procedures to lengthen the closing process, especially early on. The changes were initially to take effect in August, but have been pushed back to Oct. 3.

Mickey Hirten is an award winning writer and editor.

He has been executive editor of the Lansing State Journal, the Burlington Free Press in Vermont, and was the financial editor and a columnist for the Baltimore Evening Sun. He is the current president of the Michigan Press Association. His wife, Maureen Hirten, is director of the Capital Area District Library.

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NEWS

Help Wanted Michigan employers seek workers in all fields

BY MICKEY HIRTEN

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o sense the job market in metro Lansing, stroll the sidewalks at Frandor Mall; Home Goods is advertising for workers.

So are Tuesday Morning, Jo Ann Fabrics, T.J. Maxx (which hasn’t opened yet), Petco and Party City.

Even businesses that aren’t promoting job openings are taking applications.

“Basically we are looking for maintenance and front desk people,” said Jo Bostwick, manager at Fitness U.S. The combination health club, spa and boot camp also seeks personal trainers, who require certification and are in high-demand.

“It’s hard to keep people,” said Bostwick, whose challenge filling service industry positions reflects a regional economy that is rapidly approaching full employment.

In retailing and other service industries, many available jobs are part time, with awkward schedules and low pay. The Michigan Department of Technology, Management and Budget’s annual survey of median wages reported that the hourly pay for retail sales was $9.50 an hour with cashiers earning $9.20. The pay for fast food cooks was $9.07 an hour and even less for food preparation and service workers, at $8.96 an hour.

But this is only a slice of a job market that continues to tighten.

“The ability to find talent seems to be the number one issue facing the business community. As the unemployment rate continues to come down, the skilled trades jobs are more and more difficult to find,” said Tim Daman, president and CEO of the Greater Lansing Regional Chamber of Commerce. He cited manufacturing, tech industries — engineers and programmers, most notably — and healthcare as sectors struggling to fill available positions. It’s the downside of good news.

“We went around the board room and did an update. Almost 100 percent of the people at the table talked about how much their business has grown in the past year,” Daman said.

The rapidly improving economy played prominently in the latest Michigan State University State of the State Survey, which has monitored the public mood since 1994.

“The number one issue is jobs. People pay more attention to it than any other issue. Michigan’s unemployment is down to the

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national level, and that hasn’t been true for a long time,” said MSU economics professor Charles Ballard, who directs the project.

The survey captured growing optimism about mid-Michigan’s future. “Every time we do the survey — that’s three times a year — we ask people about their current finances. 60 percent said their situation is good or excellent, the highest since the turn of the century, the highest we’ve seen in a long time,” Ballard said. “It has real effects; when people are more confident, they are more likely to undertake investment opportunities. Maybe they start a new business. They will be likely to make better economic decisions when they are not scared.”

The latest report from the U.S. Bureau of Labor Statistics for the Lansing-East Lansing area, citing preliminary July numbers, pegs the unemployment rate at 5.1 percent. For perspective, in July 2009 as the recession deepened, the unemployment rate was 12.8 percent, the worst in decades. Altogether, the metro area has a civilian labor force of 239,000, with 226,903 employed and 12,100 classified as unemployed. A year ago the unemployment rate was 7.6 percent, had a workforce of 240,202, with 221,923 employed and 18,279 people classified as unemployed.

“Our region really considers full employment at 5.5 percent. And certainly we are faring better than other parts of the state,” said Edythe Hatter-Williams, chief executive officer at Capital Area Michigan Works! “We still have people who are unemployed. Many are frustrated and have stopped looking. Our challenge is now to engage them and let them know that there are jobs now.”

Its job placement record supports the claim that there is work available. For the 12-month period ended June 30, 2015, Capital Area Michigan Works! filled 5,583 jobs, exceeding its goal of 5,000.

OCTOBER 2015

NEWS

In 2015, construction, leisure and hospitality, and manufacturing have provided particularly strong job growth in the region, according to the BLS. Year-overyear, employers added 600 construction jobs, 1,000 manufacturing jobs and 1,300 jobs in the leisure and hospitality segment, which includes food services, bars and hotels.

and a director of business marketing & communications in Lansing at $80,000.

Then there are welders.

Both Daman and Hatter-Williams cited this trade as an example of an important skill in short supply.

Online job sites like Indeed.com, Monster. com, Craigslist.com and Careerbuilder. com illustrate a dynamic and diverse job market in the Lansing area. CareerBuilder lists more than 700 jobs posted within the last 30 days by companies as diverse as Jackson National Life, Liberty Tax Service, the Army National Guard and Grand Ledge Ford.

“What we are hearing from the manufacturing community is their inability to find welders. You could almost walk in today and they would put you to work right away,” Daman said. In response to this skill shortage, Michigan Works! has established special training programs to build expertise for those with some welding experience and to train complete novices, Hatter-Williams said.

Indeed’s listing claims more than 4,300 jobs: Plant managers at $83,000; customer service representatives at $45,000; warehouse workers at $23,000;

The BLS in its latest salary analysis found that the mean wage for welders in the Lansing-East Lansing region was $36,410, slightly below the state mean

FOR LEASE

of $36,810. But with the right skills and the right employer, pay is higher; Career. com advertises positions paying $50,000 a year. Tellingly, among the jobsite listings for welders are solicitations to relocate.

The welder shortage is nationwide.

“I will tell you that talent remains the number one issue for businesses and where they locate, expand and grow,” Daman said. “Certainly the lack of skilled labor has the potential to hinder our growth.”

Part of the CBRE affiliate network

Mickey Hirten is an award winning writer and editor.

He has been executive editor Part of the CBRE affiliate network of the Lansing State Journal, the Burlington Free Press in Vermont, and was the financial editor and a columnist for the Baltimore Evening Sun. He is the current the Michigan Part president of the CBRE of affiliate network Press Association. His wife, Maureen Hirten, is director of the Capital Area District Library.

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F E AT U R E

Strange Bedfellows New ideas that “ails” today’s doctors

BY DR. RONAL D HORO W I T Z A N D PROF E SSO R ST E V E FLA S TER

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octors today are often unhappy, frustrated and suffer from low morale. This is a national problem that demands attention. A doctor and co-author of this article has witnessed this phenomenon in his career and may have stumbled on a possible solution for the doctors’ dilemma.

One afternoon he sat in on a retailing course given by his friend, the other co-author, at our local university. To his surprise, he found that problems and solutions in the retailing arena seemed relevant and adaptable to a doctor’s practice.

THE CUSTOMER (OR PATIENT) EXPERIENCE The customer experience is a relatively new topic in retailing that is receiving major attention. It is defined as everything that happens during the customer’s visit to a store or service setting. It includes both objective and subjective factors; the total experience influences the level of satisfaction “experienced” by the customer in the final desired outcome.

Furthermore, it has been found that if the retail staff isn’t happy with their own work experience, they are less likely to contribute to the customer’s positive experience. Logically, happy staff makes happy customers. If we can agree that both a doctor’s practice and a retail business are centered in people relationships, then the idea of customer experience in a retail setting becomes that of patient experience in a medical practice.

RECENT SURVEY OF DOCTOR’S PRACTICE

SIMILAR AND DIFFERENT

A survey was performed at a local doctor’s office using methods similar to those that would be used in a retail organization. The survey found or suggested four interesting results and points of interest:

While concepts used to analyze a business may also be useful for a doctor’s practice, accommodations must be made for the unique nature of the medical practice. Different experience components must, of course, be measured. In moving research forward, it is suggested that the following five categories be used to investigate different related components of the patient experience:

1 . A majority of the staff gave their practice high grades in

most areas of patient experience.

2 . The staff has a good work experience, which was

demonstrated by their low level of turnover.

1 . Access: How often is the patient’s perceived need matched

3 . High grades for patient and staff experience suggested a

by the availability of caregivers? What is the waiting time for an appointment? What is the waiting time after arriving in the office on the day of the appointment?

relationship not unlike that between customers and staff in a retail setting.

2 . Environment: How far is parking for patients with mobility

4 . A business concept and construct can be useful in addressing

problems and improvement in a doctor’s practice.

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issues? Is there a separate waiting room for coughing and sneezing patients?

3 . Well-being: What is the stress

level of the patient on arrival? Is it lessened by the time of departure?

Is the reason for the appointment achieved before leaving or is further diagnosis needed? Is a plan for follow-up care given to the patient?

4 . Education: Is the patient given

enough information about current health status to understand present and future medical needs?

5. Economics:

Do patients have sufficient financial means for treatment and understand the extent of their coverage and personal responsibility? Will the cost of treatment and medication interfere with compliance to a treatment plan?

CONCLUSION

15,000 Employees

40 1

Locations worldwide

Hometown

The alarming reality of doctors losing desire to practice medicine affects us all.

The solution is multi-faceted and cannot be addressed in one study. The above article is a first step in which a case is made for not imposing artificial and arbitrary borders on the source of ideas for curing what ails the doctor. What at first seems like strange bedfellows may, with some adaptation, prove to be synergistic and relevant to each other’s success.

Ron Horowitz, MD, is clinical professor, Michigan State University, College of Osteopathic Medicine. He is also the medical director of Sparrow Regional Laboratory.

Steve Flaster, MBA, is instructor of advertising, retailing, and marketing, Michigan State University, Departments of Marketing and Advertising. He is also a columnist for the Michigan Retailer Magazine.

Now HiriNg 120 Mid-Michigan positions open in IT, HR, Tax, Accounting, Engineering, Corporate Training and more.

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COVER

MID-MICHIGAN’S CRAFT BEER INDUSTRY Sees Continued Growth in 2015 B Y MI C KE Y H I RTEN | P H OTO S B Y M A R K WA R N ER

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ith an agricultural economy as diverse as Michigan’s — second only to California — it is no wonder that the state is among the nation’s leading craft beer producers.

Relying on locally grown ingredients and catering to changing tastes, midMichigan is home to nearly a dozen microbreweries and brewpubs.

There are long established businesses like Harper’s Restaurant & Brewpub in East Lansing, and newer microbrewers like BAD Brewing Company in Mason, which opened in 2012, and Ellison Brewery and Spirits in Meridian Township, which opened in August.

And more are coming: Dimes Brewhouse in Dimondale and BrickHaven Brewing Company planned for the former Grand Ledge City Hall. In Lansing, at least two are in the planning or build-out stages, The Lansing Brewing Company and Spartan Beer Company.

All are part of a rapidly growing craft beer industry. The September/October issue of the Michigan Beer Guide reported that 239 breweries are operating in the state, 12

220 of them with public accommodations.

Reflecting the continued growth, the Guide noted that at the start of the year the brewery count was 194.

Michigan ranks 6th in the nation for craft breweries, producing over 800,000 barrels in 2014 with an economic impact of $1.9 billion, according to the Brewers Association, the industry’s national trade association. Considering the growth, in the state since then, these numbers are understated.

“The impact of craft beer is far reaching — from the farmers growing hops and barley, the malting and processing facilities, to the distributors and retail outlets that bring the finished product to consumers,” Michigan Governor Rick Snyder wrote in the 2015 issue of Michigan — The Great Beer State.

Promoting the industry is a significant Pure Michigan initiative.

There is no better example of the region’s microbreweries than the EagleMonk Pub and Brewery on Mount Hope Highway in Lansing. Owned and operated by Dan and

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Sonia Buonodono since 2012, its annual beer output is small, just 326 barrels last year. But it’s enough to support a “very profitable’ business without debt.

It’s supported by loyal customers whose mugs — 1,230 of them — hang on hooks from the ceiling.

The microbrewery (a legal designation that allows it to sell only what it makes, compared with brewpubs which can sell other labels) has 14 taps from which Dan Buonodono rotates 20 or so different beers. He calls EagleMonk, with its $100,000 array of fermenting equipment, an English Brewery complete with beer engines to hand pump beer from casks in the cellar. Dan Buonodono also makes wines and soda. Sonia Buonodono’s domain is the kitchen and its house special pizza. They say that many of their customers live within five miles of the pub/restaurant and few are from more than 15 miles away. It’s a local place without pretensions, low on frills and authentic with atmosphere; the business is on-premise beer.

Not so for larger microbreweries with 5,000 to 50,000 barrel capacity. Their

“I THINK THE REAL OPPORTUNITY FOR GROWTH IS THE BREW PUB. MAKING BEER AND SELLING IT OUT OF YOUR DOOR.” — PAUL STARR

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Paul Starr founder of “beer fest at the ball park” and “I’m a beer hound.”

business is selling craft beers on a commercial scale in a market that is near or past capacity.

“I wouldn’t invest in a mid-level brewery,” said Dan Buonodono, assessing the market.

Yet it’s the niche where Short’s Brewing Co. has found great success, but foresees difficulties for the industry.

“It’s definitely become more competitive in bars and restaurants. You just can’t put a new beer in everywhere,” said Scott Newman-Bale, a partner who oversees business development for Short’s. Among the challenges he cited is distribution to an already oversupplied market and development of new brands in a crowded field.

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“Before when you opened a brewery it took two years to get a recipe dialed in; if you made a few bad batches you could get away with it for a while. Now you are instantly judged on social media. You have to hit the ground running. You can’t get a free pass,” he said.

echoed by Paul Starr, who for the past five years has reported on the state’s beer industry on his “I’m a beer hound” website and who organized the midSeptember Beerfest at the Ballpark at Cooley Law School Stadium in downtown Lansing.

Short’s, established in 2002, has jumped these hurdles. “This year we finished at 45,000 barrels,” said Newman-Bale.

“We’re a little unique. We only distribute in Michigan and we’re committed to never being distributed outside of Michigan.”

“It’s getting tougher,” he said of the microbrew market. “There is only so much beer to sell. A lot of times the craft breweries are taking away from the big beer companies, and now these big beer companies are buying craft breweries,” said Starr.

Newman-Bale said that while the craft beer business will become much more competitive in the next two years, there continues to be opportunities for brew pubs that don’t necessarily distribute, but produce for themselves. It’s a view

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“I think the real opportunity for growth is the brew pub. Making beer and selling it out of your door.”

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Small producers, those who make fewer than 1,000 barrels a year, are allowed to self-distribute, Starr said.

Recognizing the business opportunities afforded by the craft beer boom, the state has tailored policies to help the industry.

Mickey Hirten is an award winning writer and editor. He has been executive editor of the Lansing State Journal, the Burlington Free Press in Vermont, and was the financial editor and a columnist for the Baltimore Evening Sun. He is the current president of the Michigan Press Association. His wife, Maureen Hirten, is director of the Capital Area District Library.

“BEFORE, WHEN YOU OPENED A BREWERY IT TOOK TWO YEARS TO GET A RECIPE DIALED IN; IF YOU MADE A FEW BAD BATCHES YOU COULD GET AWAY WITH IT FOR A WHILE. NOW YOU ARE INSTANTLY JUDGED ON SOCIAL MEDIA. YOU HAVE TO HIT THE GROUND RUNNING. YOU CAN’T GET A FREE PASS.” — SCOTT NEWMAN-BALE

“It has dramatically increased what they can brew on site, up to 18,000 barrels,” said Justin Winslow, vice president of government affairs with the Michigan Restaurant Association.

The state has also allowed brewpub owners to operate as many as five establishments. Previously they were limited to two pubs, Winslow said. It also eased the regulations on growlers, essentially take-home containers, which helped pub owners increase sales of their craft beers.

Clearly, the business deregulation efforts of the Snyder Administration mesh well with the entrepreneurial character of this growing industry. “The less the state is involved, the better,” said Winslow.

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F E AT U R E

Maker Week Showcases Lansing’s Build-it Spirit at Second Annual Event

BY MICKEY HIRTEN

P HOTOS PROV IDED

W

ith two of the nation’s most modern automotive assembly plants, Lansing is justly recognized as a car-building community; it has been ever since R.E. Olds founded his landmark Olds Motor Vehicle Company in 1897. Although car production was his passion, Olds was the quintessential “maker,” which was how he became a leading producer of power lawnmowers.

“His innovation was a large powered roller that propelled the mower at the same time as it rolled the turf,” is how the R.E. Olds Transportation Museum in Lansing describes the invention.

He undoubtedly knew that just a few miles east of his factories, researchers at Michigan Agricultural College were pioneering turf research and development, a new and growing field. Then as now there was innovation in the community and on the campus.

THROUGHOUT ITS EIGHT DAY RUN, HUNDREDS OF MAKERS — HIGH TECH AND LOW TECH — AS WELL AS ASPIRANTS, WILL FIND PROGRAMS SCATTERED THROUGHOUT THE LANSING AREA ON TOPICS AS VARIED AS 3D PRINTER USAGE, COMPUTER PROGRAMMING AND FOODS AND BEVERAGES. This build-it spirit will be displayed in many forms during the second annual Maker Week, a cavalcade of invention and enterprise that will run from Oct. 5 through Oct.12 at locations throughout the Lansing area. It is part of a national movement that celebrates and encourages innovation.

“Making goes from low tech to high tech; it’s indiscriminate. It’s the effort and knowledge base of producing your own goods, advanced or simple,” said Tony Willis, director of New Economy for Lansing Economic Area Partnership and event coordinator. He expects the 21 different programs to draw about 2,000 people.

Throughout its eight day run, hundreds of makers — high tech and low tech — as well as aspirants, will find programs scattered throughout the Lansing area on topics as varied as 3D printer 16

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

One of many activities during Maker Week, a life size operation game.

usage, computer programming and food and beverages. Sites include Impression 5 Science Center, Lansing’s Allen Market Place, Meridian Mall, The Michigan State University Library and the Knapp’s Centre in downtown Lansing. All of the events are open to the public at no charge.

While much of the programming provides a survey of maker options and initiatives, the Startup Weekend offers an opportunity for serious entrepreneurs to shape a concept into a more fully formed business plan. Organizers bill the event as, “Launch your product startup in 54 hours.” It is based at Lansing Community College’s (LCC) West Campus starting at 6:30 p.m. on Friday, Oct. 9 and ending Monday, Oct. 12 at 12:30 p.m. or later, Willis said. The ideas presented and refined must be new, not works in progress.

OCTOBER 2015

F E AT U R E

The entries will be winnowed down to the 10 or 12 with the most promise.

“Judging will happen on Sunday, Oct. 11 at 6:30 p.m., but participants will be able to stay and work on their projects until classes start the next morning,” Willis said.

Grading this year’s projects will be Scott Reschke, CEO of Strength in Numbers Studios and Paresh Malde, chief operating officer at Software Different. Acting as mentors and advisers are Tom Donaldson, regional director at the Michigan Small Business Development Center at LCC and Sean Huberty, the lead faculty for alternative energy engineering technology and an adjunct faculty member in Computer Information Technologies at LCC. Last year, the Startup Weekend attracted about 60 participants whose interests Willis said generally fall into four categories: fabricator (manufacturers, technicians or engineers), designers (coders, developers and graphic tech), non-technical (business, finance, marketing and public relations), and hobbyists (students and those interested in the maker culture).

The weekend program stresses action, innovation and education. The registration fee is $75. It begins Friday evening with participants discussing their projects with local entrepreneurs and others participating in the program. To refine their ideas, they are given help brainstorming the opportunities and challenges to shape their startup.

LCC is opening its campus facilities to participants. They will have access to electronic labs, computer assisted design (CAD) systems, 3D printers and metal working areas. They also get six meals.

One of the lasting benefits of this weekend-long immersion project, said organizers, is the ability to collaborate with “like-minded individuals outside of their daily network.” This supports the larger goal of the maker movement.

Program Highlights MONDAY (Oct. 5) Impression 5 Science Center: Panel with entrepreneurs discussing the maker culture and a key component of the “new economy.”

TUESDAY (Oct. 6) MSU Library: Using 3D printers, book printing using the Espresso system and other technical programs.

WEDNESDAY (Oct. 7) Allen Market Place: Displays of food preparation and brewing.

THURSDAY (Oct. 8) The Runway in the Knapp’s Centre: Different ways to find a niche in the fashion industry.

FRIDAY (Oct. 9) LCC West Campus: Startup Weekend begins.

SATURDAY (Oct. 10) LCC Downtown Campus: Hands-on interactive STEM activities for children.

SUNDAY (Oct 11) Meridian Mall: Mega Toy Hack — make a new toy.

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“Our big focus is to form a community of makers, people who come together and work on things,” said Brian Adams, president of the Lansing Maker Network. Its members meet regularly at the Temple Building on Grand River Avenue in Old Town where the group has a woodworking shop, electronic equipment, 3D printers and a sophisticated computer controlled laser cutter.

3D printers and laser cutters are used during Maker Week.

“It’s a fascinating machine. You put in plywood or plastic, load up a design from the computer and the laser cuts it out. It’s a beautiful thing to see,” Network Board Member and Treasurer Carl Reynolds said.

Complete information about Maker Week events is posted on the LEAP website (lansingmaker.com)

The network will be leaving Old Town for a new “Makerspace” to be located in the former Leaseway Motorcar Transport Co. building on St. Joseph Street.

“We’ve got 25 to 30 active members. We’d like that to grow to between 50 and 100,” he said. Maker Week will be an opportunity to recruit more members.

Mickey Hirten is an award winning writer and editor. He has been executive editor of the Lansing State Journal, the Burlington Free Press in Vermont, and was the financial editor and a columnist for the Baltimore Evening Sun. He is the current president of the Michigan Press Association. His wife, Maureen Hirten, is director of the Capital Area District Library.

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OCTOBER 2015

F E AT U R E

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F E AT U R E

Travis Fritts Brings a Decade of Brewing Experience to Williamston’s Old Nation Brewing Company

BY TON Y CONL EY

T

P H OTO S B Y M A R K WA R NER

he question of who makes the best craft beer in midMichigan is debatable, but the Lansing area’s newest brewpub — Williamston’s Old Nation Brewing Company — and Travis Fritts should be part of that conversation. Fritts, a 35-yearold Dimondale native, has the education and experience to put him in the running to be one of the best brewers in Michigan.

The education component came in Berlin, Germany at the Technical University of Berlin.

Fritts started his education at Lansing Community College as an education major, and planned to transfer to Michigan State University, but changed his mind when an offer of tuition assistance completely changed his career path.

Travis Fritts, owner of Old Nation Brewing Company.

“I was offered tuition assistance to enter the brewing program at Technical University [in Berlin, Germany],” Fritts said. “I thought the Craft Beer industry had a lot of potential for growth in the U.S., and if it didn’t work out, I’d just stay in Europe and work.”

In 2001, Fritts started his schooling in Germany as one of just two Americans in Technical University’s Brewing School.

The transition was easy for Fritts, who has spoken German since his youth, and was an exchange student in Munich in his teens.

Fritts returned to the U.S. in 2003 when a wave of growth in the craft beer industry was in full-effect.

“With this resurgence, there were jobs all over the place,” Fritts said. “In the first wave it was all about the investors.”

In the mid-90s, Fortune Magazine called it a gold rush. However, only a few craft beer companies survived or were bought out. Fritts said that a lot of the problems came from a lack of quality due to a lack of experience; people would buy a sixpack of craft beer that was priced higher than domestic beer, drink it and not like it, so they would stop buying it.

When the industry began to pick up again in the early 2000’s, Fritts said a lot of brewpubs started popping up, and there was a resurgence in creative beer.

“The second wave was successful because we saw craft beer companies producing unusual beers with unusual flavors and processes,” Fritts said. “Craft beer makers stopped trying to compete with the big domestic beer companies.”

Currently, craft beer accounts for about six percent of all beer sales in Michigan, according to Scott Graham, executive director of the Michigan Brewers Guild.

“Nationally it’s 10 percent, but I expect craft beer sales to reach 20 percent of

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OCTOBER 2015

Williamston’s Old Nation Brewing Company.

Michigan beer sales in the future because there is a market for it,” said Graham.

Fritts gained a lot of experience in Michigan. As a 23-year-old, he worked with famed brew-master Pierre Celis of the Seles Brewing Company in Austin, Texas.

Fritts also worked with Jean-Luc Suys who was responsible for all of the Unibroue or Belgain style beers according to Fritts.

“Working with Celis and Suys was a huge formative experience for me,” Fritts said.

“It was an amazing experience to work with these old European brew-masters, and was completely different from the German discipline I was accustomed to.”

Fritts managed a Royal Oak brewery, and then helped the Detroit Brewing Company get its beers into the open market. While gaining more brewing and management experience and helping to make beers

that were selling, Fritts decided to open his own brewing company.

“WE ARE BREWERS, AND WE ARE VERY SERIOUS ABOUT BEING BREWERS. I CHALLENGE ANYONE TO FIND SOMEONE MORE PARTICULAR ABOUT THE BEER THAT THEY BREW THAN WE ARE HERE AT THE OLD NATION BREWING COMPANY.” — TRAVIS FRITTS “It was time to stop dipping our toes in the water and time to start a new brewery,” said Fritts.

With his family (his wife and three young sons) growing and wanting to come back home, Fritts chose Williamston because he loves the greater Lansing area.

“We had been talking for years about this project,” said Rick Ghersi, CEO of Old Nation Brewery. “Travis has a passion, knowledge, excitement and enthusiasm that excited me.”

After rallying support, Fritts opened the Old Nation Brewing Company in Williamston, Mich.

Fritts thinks the general population likes craft beer because it’s made locally and they think it’s interesting that some kind of craft or art is involved with making beer. He added that it’s more of an emotional connection and a lifestyle choice for those who enjoy craft beer.

“People like to be attached and connect with a pub where the beer is made,” added Graham. “Craft beer drinkers want L

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a technically and well-made beer that is fresh.”

A stand out on Old Nation’s menu is their Grand Pale Ale, made with 100 percent Michigan hops. He stressed that local products are an important part of their brewing process.

Since opening in July, Old Nation Brewing Company has kept busy.

“We’ve been busy and well-received; 90 percent of the feedback we’ve gotten is excellent, but that 10 percent that is not good really bothers me, and we have made changes to make it better,” said Fritts.

“We want to make really good food from scratch at a reasonable cost that matches with our beer and we want to be a good place for families.”

As Old Nation Brewing Company continues to grow, Fritts said he will

continue to hold his brewers to the highest standard, and create the best quality brews in mid-Michigan.

“We are brewers, and we are very serious about being brewers,” Fritts said. “I challenge anyone to find someone more particular about the beer that they

brew than we are here at the Old Nation Brewing Company.”

Tony Conley is an avid sports fan and shares his home in the greater lansing area with his wife and two sons.

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G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

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F E AT U R E

Fiscal Policy, the Recession Case

BY MORDECHAI E. KR E I N I N

T

he main reason for the different economic outlook between the U.S. and Europe — good in the U.S. and poor in Europe — is differential fiscal policy. Fiscal policy describes changes in the government budget (deficit or surplus) designed to stabilize the economy. It can be traced back to a 1936 book written by John Maynard Keynes, a giant in the economics profession, entitled The General Theory of Employment Interest and Money.

Recessions are defined as two or more consecutive quarters of absolute decline in real Gross Domestic Product (GDP). In turn, GDP is the total money value of all goods (such as cars, clothes or food) and services (such as banking, insurance or education) produced during a year. In most years GDP rises, partly because the quantity of output increases and partly because prices rise.

Netting out the price increase, we obtain real GDP, which is the most comprehensive measure of the performance of the economy.

U.S. GDP hovers around $18 trillion, the largest in the world, followed by that of China. A recession is usually accompanied by high unemployment.

To the question, “What is the difference between a recession and a depression” an answer sometimes given is that “a recession is when my neighbor is unemployed; a depression is when I am unemployed.”

What is the fiscal policy response to a recession? The conventional wisdom is to implement a government budgetary deficit to fill the missing demand, thereby raising output toward the full employment level to stabilize the economy. Every dollar of extra spending by the government produces perhaps $1.50 to $2.00 of the rise in real GDP, because of a process called the multiplier. A dollar spent by the government, or the private sector for that matter, becomes income of workers, suppliers or whomever receives it. And these people save some of it and spend most of it.

Their spending becomes income of a third group of people who also spend most of it.

And so the rounds of income and spending go in ever-declining magnitudes (because of the savings component), producing the “multiplier” effect.

TO THE QUESTION, “WHAT IS THE DIFFERENCE BETWEEN A RECESSION AND A DEPRESSION” AN ANSWER SOMETIMES GIVEN IS THAT “A RECESSION IS WHEN MY NEIGHBOR IS UNEMPLOYED;

Some deficits during recessions occur automatically, without any policy action. These are called built-in or automatic stabilizers.

During a recession, unemployment rises, and since the unemployed do not pay taxes, government revenue declines. On the other hand, government expenditures rise because more people receive welfare and other services. Combined, the lower revenue and larger expenditures add up to a higher deficit. But the built-in stabilizers can do only a third or a quarter of the job needed to reach full employment. The remainder must come from legislative action.

A DEPRESSION IS WHEN A depression is a very deep, long and wide-spread recession. The U.S. has not Herein lies a big difference between the I AM UNEMPLOYED.” suffered a depression since the 1930s, when U.S. and Europe; the U.S. addressed the unemployment reached 25 percent. However, there were several deep recession of the last decade with a stimulus package, which recessions in the post-war period; the last one lasted from 2008 to propelled the economy out of its slump. In Europe, individual 2010 (or 2011). It was rather severe, with unemployment exceeding countries determine government budgets. By far the most 10 percent. important is Germany and EU countries led by Germany, that were more concerned with reducing or eliminating the built-in A recession is caused by inadequate aggregate demand. In other deficit. They adopted austerity measures, meaning a rise in taxes words, demand for goods and services by consumers, investors, and reduction in government expenditures designed to lower the government (local, state and federal) and foreigners is not deficit. This is the opposite of what is prescribed by conventional sufficient to keep the entire labor force and capitol stock (namely wisdom. These measures led to a deeper recession and greater machines) fully employed. unemployment. Extreme austerity measures were imposed on Greece by its creditors during the mid-2015 crisis.

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This, in part, explains why EU unemployment is double that of the U.S. Another part of the explanation, namely monetary policy, will be outlined in future columns.

Selling government bonds to people and institutions finances the budget deficit, and the combined size of the annual deficits is called the national debt. They will be discussed in the next column.

Mordechai Kreinin is a University Distinguished Professor of Economics, emeritus at Michigan State University and past President of the International Trade and Finance Association. He is the author of about 200 articles and books about economics, including the widely used text, International Economics. He can be reached at kreinin@ msu.edu or by cell phone at (517) 488-4837.

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MAN ON THE STREET

M AN on the STR E ET What’s your favorite Lansing area restaurant?

COMPIL ED BY K YL E D O W L I N G, G L B M’ S MA N O N T H E S TR EET

“Our favorite would be Tavern on the Square for its lobster mac and cheese or its awesome burgers.”

Tony Mosesso and Ron Kendall

“Our favorite restaurant would have to be Meat because it’s local and the portion size is great. Alyssa loves Red Haven for its Happy Hour.”

Jeremy Smith, Lauren Kushiom and Alyssa Stuparek

“I love Buffalo Wild Wings because it’s a great sports bar and I’m all about sports.”

Ike Aguwa

“I love Black Cat because the food there is amazing and it varies from season to season so there’s always something new to try.”

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OCTOBER 2015

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GLBM LIST

Lansing Area Restaurants and Bars

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Name

Type of Restaurant

Location

Beer Grotto

Bar

500 E. Michigan Ave. #100, Lansing, MI

Beggars

American

218 Abbott Road, East Lansing, MI

Black Cat Bistro

American

115 Albert Ave., East Lansing, MI

Blue Gill Grill

Seafood

1591 Lake Lansing Road, Haslett, MI

Bulgogi

Korean

340 Albert Ave., East Lansing, MI

Capital Prime

American

2324 Showtime Dr, Lansing, MI

Deluca’s

Italian

2006 W. Willow St., Lansing, MI

Dublin Square

Irish Pub

327 Abbot Road, East Lansing, MI

Dusty’s Wine Bar

Wine Bar

1839 W. Grand River Ave., Okemos, MI

Field House

Pizza

213 Ann St, East Lansing, MI

Golden Harvest

Breakfast and Brunch

1625 Turner St., Lansing, MI

Harper’s Restaurant and Brew Pub

American Restaurant and Microbrewery

131 Albert Ave., East Lansing, MI

Harrison Roadhouse

American

720 Michigan Ave, East Lansing, MI

HopCat

Bar

300 Grove St, East Lansing, MI

Knight Cap

Steakhouse and Wine Bar

320 E. Michigan Ave., Lansing, MI

Leo’s Outpost

American

600 S. Pennsylvania Ave., Lansing, MI

Meat BBQ

Barbecue

1224 Turner St., Lansing, MI

Midtown Brewing Company

Bar and Grill

402 S. Washington Square, Lansing, MI

Nuthouse Sports Grill

Bar and Grill

420 E Michigan Ave, Lansing, MI

Pablo’s Old Town

Mexican

311 E. Grand River Ave., Lansing, MI

Red Haven

Farm to Table Restaurant

4480 Hagadorn Rd. #103, East Lansing, MI

Soup Spoon Café

American

1419 E. Michigan Ave., Lansing, MI

Spartan Hall of Fame Café

American

1601 W. Lake Lansing Road, East Lansing, MI

Taste of Thai

Thai

1105 E. Grand River Ave., East Lansing, MI

Tavern and Tap

American

101 S. Washington Square Lansing, MI

Tony Sacco’s Coal Oven Pizza

Pizza

2328 Showtime Dr, Lansing, MI

The Cosmos

Pizza

611 E. Grand River Ave., Lansing, MI

Troppo

American

111 E. Michigan Ave., Lansing, MI

Zaytoon Mediterranean Grill

Mediterranean

940 Elmwood Road, Lansing, MI

Zoobies

Bar and Grill

611 E. Grand River Ave., Lansing, MI

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

OCTOBER 2015

GLBM LIST

Each month, the Greater Lansing Business Monthly compiles a list relevant to the publication’s theme. The lists are not comprehensive, but rather, a snapshot look at what is publicly available on various industries and organizations. The following is a list of Lansing area restaurants and bars categorized in alphabetical order. To submit your company information for future GLBM lists, go to lansingbusinessnews.com/get-on-the-list.

Hours

Phone Number

Website

M-Th: 11 a.m. - 11 p.m., F-Sat: 11-2 a.m., Sun: noon-11 p.m.

(517) 371-1080

beergrotto.com

10 a.m. - 10:30 p.m.

(517) 351- 4540

beggarsbanquet.com

M-Th: 11 a.m. - 10 p.m., F-Sat: 11 a.m. - 11 p.m., Sun: 11 a.m. - 10 p.m.

(517) 580-3821

blackcatbistroel.com

M-Sat: 11-2 a.m., Sun: noon-2 a.m.

(517) 339-4900

bluegillgrill.com

M-Th: 11 a.m. - 10 p.m., F-Sat: 11 a.m. - 10:30 p.m., Sun: noon - 9:30 p.m.

(517) 993-6817

bulgogirestaurant.com

M - Th: 11:30 a.m - 10:00 p.m., F - Sat: 11:30 a.m. - 12 a.m., Sun: 2 p.m. - 9 p.m.

(517) 377-7463

capitalprimelansing.com

M-F: 11 a.m. - 10 p.m., Sat: 11 a.m. - 10:30 p.m.

(517) 487-6087

delucaspizza.com

M-Sat: 11 a.m. - 2 p.m., Sun: noon - 2 a.m.

(517) 351-2222

dublinsquare.net

M-Th: 11 a.m. - midnight, F-Sat: 11-1 a.m., Sun: 11 a.m. - 10 p.m.

(517) 349-8680

dustyscellar.com

M-Sat: 11 a.m. - 2 a.m., Sun: 12 a.m. - 2 a.m.

(517) 977-0577

N/A

7 a.m. - 2:30 p.m.

(517) 485-3663

N/A

11-2 a.m.

(517) 333-4040

harpersbrewpub.com

M-Th: 11 a.m. - 11 p.m., F-Sat: 11 a.m. 12 a.m., Sun: 11 a.m. - 10 p.m.

(517) 337-0200

harrisonroadhouse.com

M-Wed 11 a.m. - 12 a.m., Th-Sat: 11 a.m. - 2 a.m., Sun: 10 a.m. -12 a.m.

(517) 816-4300

hopcat.com/east-lansing

M-Th: 4-10 p.m., F-Sat: 4-11 p.m., Sun: Closed

(517) 484-7676

knightcap.com

M-Tu: 11 a.m. - midnight, W-Sat: 11 - 2 a.m., Sun: noon - midnight

(517) 367-7755

leosoutpost.com

M: Closed, T-Th: 11 a.m. - 8 p.m., F-Sat: 11 a.m. - 9 p.m., Sun: noon - 7 p.m.

(517) 580-4400

meatbbq.com

M-Th: 11 a.m. - midnight, F-Sat: 11 a.m. - 2 a.m., Sun: 11 a.m. - 11 p.m.

(517) 977-1349

midtownbrewingco.com

M - Th: 11 a.m. - midnight, F-Sat: 11 a.m. - 2 p.m., Sun: 11 a.m. - 11 p.m.

(517) 484-6887

nuthousesportsgrill.com

M-Sat: 9 a.m. - 9 p.m., Sun: 9 a.m. - 5 p.m.

(517) 372-0887

pablosoldtown.com

M: Closed, T-Th 11:30 a.m. - 2 p.m.; 5-9 p.m., F: 11:30 a.m. - 2 p.m.; 5-10 p.m., Sat: 5-10 p.m., Sun: 5-8:30 p.m.

(517) 679-6309

eatredhaven.com

M-Th: 7 a.m.-10 p.m., F: 7 a.m. - midnight, Sat: 8 a.m. - midnight, Sun: Closed

(517) 316-2377

soupspooncafe.com

11 a.m. - 10 p.m.

(517) 337-4680

spartanhalloffamecafe.com

M-Th: 11 a.m. - 9 p.m., Sat: 1-10 p.m., Sun: 1-9 p.m.

(517) 324-0225

tasteofthaieastlansing.com

11-2 a.m.

(517) 374-5555

tavernandtap.com

M-Th: 11 a.m. - 10 p.m., F-Sat: 11 a.m. - 11 p.m., Sun: 11 a.m. - 10 p.m.

(517) 485-2625

tonysaccos.com

M-Th: 11 a.m. - 10 p.m., F-Sat: 11 a.m. - 11 p.m., Sun: noon - 10 p.m.

(517) 897-3563

thecosmoslansing.com

M-F: 11 a.m. - 11 p.m., Sat: 4 p.m. - midnight, Sun: Closed

(517) 371-4000

troppo.org

M-Th: 11 a.m. - 8 p.m., F-Sat: 11 a.m. - 9 p.m., Sun: Closed

(517) 203-5728

zaytoonlansing.com

M-Th: 3 p.m. - midnight, F-Sat: 3 p.m. - 2 a.m., Sun: 3 p.m. - midnight

(517) 483-2737

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INVESTMENTS

Financial Peace of Mind

BY ST EPHEN L . HICKS A N D ROG E R L . MI L L B ROO K

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inancial independence conjures up an idea of more than simply cash or material wealth. It also suggests a certain peace of mind and an approach to life that focuses on abundance and not shortage. Now, how does one go about obtaining and maintaining financial peace of mind? Let’s explore four best practice approaches to financial peace of mind practiced by many who have both obtained and maintained their independence over the long term. Simply put, how do many wealthy investors invest?

$

A FEE-ONLY FIDUCIARY ADVISER A fee-only fiduciary adviser is an adviser who has the highest legal duty to their client, and accordingly, can have no conflicts of interest with their client, offering only objective and truly independent advice, must be 100 percent loyal to their client (and not to a product or brokerage company or commission schedule), who must operate with complete transparency and disclosure to the client of all fees, costs, expenses, expected rates of return, risks, etc. A fee-only fiduciary adviser is not a salesperson whose limited duty is merely “suitability.” Simply put, investors receive far more utility in an adviser who must, by operation of law, put their client’s interest first and not their fee.

AN ADVISER WITH SUBSTANTIAL EDUCATION, TRAINING AND EXPERIENCE There is simply no substitute for substantial education, training and experience. An adviser needs all three to be truly successful for their client. For adviser educational credentials, we recommend advisers holding a J.D., Ph.D, D.B.A, M.S., M.B.A., C.P.A., P.F.S., and/or C.F.A. Indeed, it is probably best that the adviser hold some combination of the aforementioned degrees and designations. Such sentiment has been echoed by many academics and practitioners, especially in recent years as the complexity of finance, law, accounting and taxation has turned financial advising into a rigorous profession.

In his well-regarded and top selling book, “The Millionaire Mind”, Dr. Thomas J. Stanley, professor and prolific author on the affluent, makes clear that today wealthy investors almost always look to investment advisers who are lawyers and/or CPAs and seldom engage financial planners and brokers.

LOW COST INSTITUTIONAL INVESTING Commissions (or loads) are a real and significant drag on a portfolio’s performance. Commissions are common with actively managed retail mutual funds and are often classified as Class 32

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A, B, or C. These fund designations have nothing to do with the quality of the funds or its performance and instead merely signify how the commission will be paid to the adviser/broker.

This commission is paid on top of the annual expense charges of the mutual fund. We have similar thoughts and to be certain, even more heightened concerns with annuities.

So how does an investor obtain and maintain financial independence with all of these expensive/high commission services (and often hard to get out of investments) that are being offered by advisers?

The best practice for low cost investing is passive institutional investing (wholesale) as opposed to retail investing described above. The problem for investors is that most advisers have limited or no access to passive institutional investments.

Investors should seek out fee-only fiduciary advisers who offer 100 percent passive institutional investments that are no-load, penalty-free investments.

EVIDENCE-BASED INVESTING What is Evidence-Based Investing or EBI? Very generally, it is how science is done in the application of investing. More specifically, EBI is the fieldwork of investing science where data is continuously collected, organized and analyzed by professionals who are academically trained in the science.

As with any science, EBI demands a rigorous, objective and meticulous analysis of data. The goal, of course, is to find longterm patterns that emerge from the data for application in longterm investing (not short-term market-timing tactics). These long-term patterns constitute the best evidence from which

OCTOBER 2015

INVESTMENTS

investment decisions can be made by an investor in consultation with their feeonly, fiduciary investment adviser.

IN HIS WELL-REGARDED AND TOP SELLING BOOK,

Stephen L. Hicks and Roger L. Millbrook are Fee-Only Fiduciary Investment Advisers with Siena Wealth Advisors. Part of a larger Siena team, these professionals are lawyers and Certified Public Accountants and hold other advanced degrees or designations in the area of financial services. Siena is consistently listed by CPA Wealth Provider Magazine and Accounting Today magazine as one of the Top Investment Advisery Firms in the United States.

Siena advisors can be reached at info@sienainvestor.com.

“THE MILLIONAIRE MIND”, DR. THOMAS J. STANLEY, PROFESSOR AND PROLIFIC AUTHOR ON THE AFFLUENT, MAKES CLEAR THAT TODAY WEALTHY INVESTORS

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ALMOST ALWAYS LOOK TO INVESTMENT ADVISERS WHO ARE LAWYERS AND/ OR CPAS AND SELDOM ENGAGE FINANCIAL PLANNERS AND BROKERS.

EBI is an approach to investing that has come directly from academia and not a sales or brokerage office. As a result of its academic origin, EBI is currently practiced by very few investment advisers, usually limited to those highlytrained advisers working exclusively with high net worth investors in a fee-only (not merely fee-based), fiduciary capacity.

Unlike brokerage, EBI is an objective, research based, data-driven approach to investing. The data, not a commission or fee, drives portfolio selection decisions within the framework of the individual investor’s expected return and risk profile, taking into account the attendant tax consequences of any investment selection.

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COLLECTIBLES

Collectibles in a Financially Turbulent World

BY PATRICK A. HEL L E R

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he last few months have been scary for almost everyone around the globe. Stocks and stock indices, the bond markets, currencies and commodity prices have been much more volatile than is comfortable for investors. Even the safety of bank accounts, as citizens in Cyprus and Sri Lanka can tell you, is no longer a sure thing. I am regularly asked if the worst is over yet. All I can say is that we will only know the correct answers to such questions in the future.

As people have been jolted into paying more attention to their personal finances and investments, a review of the potential impact on collectibles is in order.

From a monetary perspective, collectibles can be divided into three categories. The first can be considered pure enjoyment, where there is no significant financial outlay in forming the collection and no expected monetary value for the items.

Examples of such collectibles are butterflies, matchbooks, most books, salt and pepper shakers, airline airsickness bags, postcards and the like. Such collections provide personal enjoyment but not any prospect of financial resources.

various markets. This is almost certainly due to many wealthy collectors feeling the need to reduce their spending, just to be careful. (Note: There is also something of a trend among the wealthy to now spend more on experiences and somewhat less on physical objects.) However, this fall in demand has also hurt other collectibles widely acquired such as the collector plates and figurines. In recent years, I have seen more people seeking to sell such collectibles than in earlier years, along with a general decline in demand to purchase such items.

IF YOU ARE COUNTING THESE COLLECTIONS

In general, my advice to people with such collectibles is to obtain current realistic information on what prices such pieces could be sold at and how long the process would take. What was paid for the items or what they might have sold for last year doesn’t matter now. If you are counting these collections as part of your nest egg, you need a brutally honest idea of what your treasures are worth. Keep in mind that what something is “worth” is what someone else is willing to pay for it.

AS PART OF YOUR NEST EGG, YOU NEED A BRUTALLY HONEST IDEA OF WHAT YOUR TREASURES ARE WORTH. KEEP IN MIND THAT WHAT SOMETHING IS “ WORTH” IS WHAT SOMEONE ELSE IS WILLING TO PAY FOR IT. The second category of collections would be those that do involve the outlay of funds for items that hopefully have some continuing value for resale. In this classification you would find items often displayed in museums such as works of art, jewelry, antique furniture, antique firearms, classic automobiles, Persian rugs, antique first editions of books, significant historic documents, antique toys, dolls, toy railroads and so forth. For people with modest budgets, it could mean hobbies such as collector plates and figurines, stamps and sports cards.

For such collections, many people prudently consider the value of them in their overall financial planning. I have seen some weakness in recent months in top-end collectibles in 34

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Last, you have precious metals and collectibles like rare coins and paper money whose values can fluctuate almost on a daily basis as the worldwide financial landscape changes. These possessions deserve more frequent attention than other collections. For instance, the prices of gold and silver reached multi-year lows in August. Was that a sign of a bargain buying opportunity or a warning that prices could fall further?

While I am optimistic that both metals will experience much higher prices in the coming months and years, I have sometimes been premature in my outlook. It seems like many collectors across the country and around the world agree with me that those were true bargain levels, as buying demand for physical precious metals and numismatic items soared. Will this surge of interest continue for the medium to long-term? Stay tuned to find out.

OCTOBER 2015

Patrick A. Heller was the 2012 American Numismatic Association National Coin Dealer of the Year. He is the Communication Officer and Owner Emeritus of Liberty Coin Service in Lansing, the largest coin dealership in Michigan.

He writes a monthly newsletter, Liberty’s Outlook, available at libertycoinservice.com, and commentaries on precious metals and collectibles on various websites. His awardwinning radio show “Things You ‘Know’ That Just Aren’t So, And Important News You Need To Know” can be heard at 8:45 AM Wednesday and Friday mornings on 1320-AM WILS in Lansing (which streams live and is archived at 1320wils.com). He was also the Executive Producer of the movie “Alongside Night.” Heller was the unofficial “artist” of the 2004 Michigan Statehood Quarter.

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L E G I S L AT I V E U P D AT E

News, Notes and a Few Comments from the State Capitol The pros and cons of term limits

BY ROB BAYKIAN

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n impassioned and frequently talked about blog posting earlier this year by Lansing Capitol journalist John Lindstrom has reignited a debate over whether Michigan’s term limits, which (among other things) restrict Michigan House members to no more than three full two-year terms and Senate members to two four-year terms. Voters imposed the limits 23 years ago as a way to get rid of career politicians and bring new faces and ideas. Many proponents also said limits would result in better democracy, smaller government and may encourage legislators to focus more on the job at hand since they wouldn’t be in for very long.

Has it done those things? It’s definitely resulted in getting rid of career politicians, and there was certainly a long list of them.

It’s brought in new faces, and a vastly growing number of people who call themselves former legislators. But smaller government?

It seems to get larger. New ideas? Not really. Better democracy?

It seems more bills these days are written by out-of-state special interest groups who are also connected to big political contributions. And there seems to be more highly-influential lobbyists these days. And focus on work? Warren Mayor Jim Fouts noted recently that even the most secure legislator is busy looking for a new job after just four years in Lansing, sometimes hoping they land a high-paying lobbying gig.

debate, which lasted many, many years. After failed ballot proposal, failed legislation and just general failure, lawmakers finally came up with a solution, which of course also involved voters.

More than a few people have blamed the Todd Courser-Cindy Gamrat affair (literally and figuratively) on term limits, although I don’t see the connection; a few ne’er do wells are with us in all lines of work. But how the expulsion proceedings were handled may very well be connected to term limits. Previous expulsions, as well as previous expulsion threats, were led by those who had earlier sat on the backbench and watched how experienced leaders handled such matters. One notable difference between those earlier proceedings and the recent one: there was no partisan bickering during the Monte Geralds expulsion in 1978, or during the David Jaye expulsion in 2001. This time around, there was a partisan slap-fight sideshow, laced with questions over whether they acted too quickly, or why key figures were never called before the investigating panel. Critics link those things to term limits.

Then of course, there’s the lack of institutional knowledge, and simply the lack of experience. Former Rep. Dan Scripps, who had been voted out after just one term in 2010 and is now running again, made a most telling comment recently. Scripps, a Democrat from northern Michigan, had been tossed into the chairmanship of the banking committee as a freshman. These kinds of things happen when there’s a shortage of experience, kind of like field promotions during wartime. And it’s clear he was in over his head.

Former Michigan House Speaker Paul Hillegonds recently reminded me of the 20-year milepost of Proposal A, which revamped school funding. It started with a long legislative 36

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And the longtime Republican believes if term limits were in effect then the whole process of working out that deal “would not have been possible.” He believes today’s unfamiliarity and distrust among legislators, combined with the current partisan polarization that has overtaken the country, has simply created a bad climate for compromise, and term limits make it worse.

He told me: “I chaired the banking committee during the worst banking crisis since the great depression with no background as a banker. There’s no way you’re prepared for that. (My situation) was proof of why (term limits) are bad. You can’t have a freshman in charge of the banking committee,” especially during a major economic recession.

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And Rep. Ed McBroom (R-Vulcan), who chaired the panel that heard the CourserGamrat expulsion proceedings, noted the lack of knowledge regarding such proceedings, adding “it’s given me that much more passion to have term limits modified or removed, because of the longterm damage it’s doing to institutional knowledge, integrity and inner workings.

It’s just one more notch in the pole to say term limits need to go. They’ve not really served the people of Michigan well.”

Former Republican Rep. Leon Drolet of southeastern Michigan disagrees. His reasoning is that being a lawmaker means being in a sort of phony world where staffers surround them and lobbyists treat them with kid gloves, laugh at their bad jokes, etc. Drolet says term limits correctly force lawmakers “back into the real world for a chance to reclaim their humility and sense of responsibility — qualities stripped away by a system destined to warp anyone’s mind.”

And it’s that feeling from voters that tells me eliminating or even changing term limit restrictions will be very difficult, as the public has generally believed any attempt to do so would only be to benefit lawmakers they already distrust and don’t like.

Still, there’s this question. Would you or I ever want to be in a workplace where the guy in charge has to be changed every few years and they start with no experience at that particular job?

LT. GOVERNOR CALLS FOR AN END TO RESTRAINING MISBEHAVING STUDENTS Lt. Governor Brian Calley recently appeared before a legislative committee with a message: stop restraining misbehaving students. He wants lawmakers to put on the books what the State Board of Education has already recommended. Specifically he’s talking about using seclusion and/or restraint of misbehaving special education students.

The only exception, he says, should be in cases where they pose “an imminent danger” to themselves or others. The board adopted such a policy in 2006, but it was never put into state law. Calley says some schools continue to use restraints when they shouldn’t.

He also notes there’s no requirement for a school to report when restraints are used.

Calley’s comments came as he delivered a report on the outcome of town hall meetings on special education policies in Michigan.

OVERCROWDED AND OVERBUDGET PRISONS LEAD TO TALKS ABOUT PRESUMPTIVE PAROLE The push is resuming to approve “presumptive parole” legislation, and it’s supported by people of different political stripes who believe that the state’s prison budget has gotten way out of control.

Barb Levine of the Citizens Alliance on

Prisons and Public Spending says the then-popular move many years ago to get tough on crime, which many candidates used to get votes, has now resulted in too many low-risk inmates staying in prison for too long. The idea is to presume parole after the minimum portion of a sentence is served unless there’s good reason not to grant parole.

She says there are many inmates, for instance, who judges thought would be out in 12 years, but instead are serving 20 or 30 years. This has added to the immense state prison budget, which now sits at a couple of billion dollars.

Rob Baykian is director of news and operations at the 67-station Michigan Radio Network. He has been covering the Capitol since 1981.

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BUSINESS CALENDAR

October 2015 BUSINESS EVENTS P H OTO B Y MA NNY G A RCIA

10/2

25TH ANNUAL EMPTY BOWLS, LANSING. Join the Greater Lansing Food Bank for their 25th annual Empty Bowls. Visit Troppos, located at 111 East Michigan Avenue, for lunch from 11 a.m. to 1:30 p.m. Participants will receive a handmade bowl, made by members of Greater Lansing Potters’ Guild and Clayworks Pottery, a light meal of soup and bread and water. A donation of $20/person is required. Help support your local food bank and enjoy this fun event with friends. For more information, visit greaterlansingfoodbank.com.

10/10

GREATER LANSING HEART WALK, LANSING. Do you want to help raise the money needed to support the American Heart Association’s lifesaving research, programs and education in order to help fight heart disease and stroke? If so, join them at the Greater Lansing Heart Walk. This fun, non-competitive walk will be held at the Cooley Law School Stadium, located at 505 East Michigan Avenue. Registration begins at 8:30, followed by opening ceremonies at 9:15 and the walk at 9:30 until 11 a.m. Help save lives and join the walk. For more information, visit LansingHeartWalk.org or email Rodney.Parkkonen@heart.org.

10/10

WALK FOR THE ANIMALS, GRAND LEDGE. Join the Capital Area Humane Society for their second largest fundraiser of the year, the Walk for the Animals. Walkers register as individuals or as a team, collect donations and then join the walk on October 10 at Fitzgerald Park, located at 133 Fitzgerald Park Drive. Additional activities will include: demonstrations, games, contests, vendors, lunch and more. Activities begin at 1 p.m., with registration running from 1 to 2:45, lunch from 1 to 3 and the one mile walk and extended nature trail walk at 3 p.m. The cost to participate is $25/person and includes parking, entry and lunch. Children 12 years of age and under are free. For more information, email events@AdoptLansing.org or call (517) 626-6060 x.120.

10/14

ATHENA WIN ANNUAL SIGNATURE CELEBRATION, LANSING. Join ATHENA WIN for their annual Signature Celebration celebrating both current and past ATHENA recipients. Enjoy an evening of fun, networking, inspiration and this year’s keynote speaker, Susan Goldberg, the Editor in Chief of National Geographic 38

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Melissa Nay, Jenn Dubey, Todd Lake and Matthew Anderson attending the 10 Over the next 10 awards ceremony.

Magazine and News. This year’s celebration will be held at the Country Club of Lansing. The cost to attend is $45/member before October 1 and $55/member after October 1 or $60/nonmember before October 1 and $70/non-member after October 1. For more information or to purchase tickets, visit athenawin. com/signature-celebration.com.

10/20

CONNECTIONS & COFFEE, LANSING. Spend your morning with GLBM for Connections & Coffee. Enjoy some networking, bagels, coffee and a brief ten-minute presentation. Connections & Coffee will be held at the University Club of MSU, located at 3435 Forest Road, from 8 to 9 a.m. For more information, visit lansingbusinessnews.com or call (517) 203-3333.

11/20

SILVER BELLS IN THE CITY, LANSING. Celebrate the season at the 31st Annual Silver Bells in the City. This family-fun event includes an electric light parade, a community sing, lighting of the State Christmas tree, fireworks over the Capitol dome (weather permitting), a concert and the Silver Bells Village. Start your holiday shopping or purchase some yummy treats as local vendors throughout the state show off their wares. Don’t miss this fun event, beginning at 5 p.m. For more detailed information, visit silverbellsinthecity.org.

OCTOBER 2015

Let your hair down & wig out!

Join CAWLM, MSU Federal Credit Union and Susan G. Komen at the first annual Wine & Wigs event. Put on your best wig or purchase one for a great cause.

Tuesday, October 20, 2015 6 p.m. at MSUFCU Headquarters 3777 West Road East Lansing, MI 48823

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N O TA B L E N E W S

LEAP’S CEO RECEIVES MEDA PRESIDENT’S AWARD Lansing Economic Area Partnership (LEAP)’s President and CEO, Bob Trezise was recently awarded the prominent President’s Award for his leadership in economic development at the Michigan Economic Developers Association’s (MEDA) Annual Conference at Shanty Creek Resorts. The President’s Award is given to a member that has provided a substantial contribution to the MEDA. Trezise was given the award for his work in creating and driving the theme of this year’s Annual Meeting.

“In the last 15 years, Bob has been instrumental in the revitalization of the urban environment and growth of the Lansing region. This President’s Award recognition is for his work as a champion for economic development and his success as a top economic developer in Michigan. His passion for the profession and the development and support of young economic development professionals is profound and now represented across the State of Michigan and the nation. He has worked tirelessly on his own personal time to make the MEDA Annual Meeting an event that the entire profession can benefit from. Bob actively encourages members of the LEAP

LOCAL NOTABLE NEWS: EXTEND YOUR REACH WELCOMES NEW MARKETING DIRECTOR Extend Your Reach, an integrated marketing service provider and direct mail company, recently welcomed Kristen Nauss as Marketing Director.

Nauss boasts more than 20 years of strategic communications experience.

Most recently, she held positions at Michigan Blood, including serving as Director of Special Events & Community Relations and Public Relations Supervisor. She spent her early career in broadcasting, as a radio personality at stations in Grand Rapids, Kalamazoo and South Bend, Illinois. Nauss is a Western Michigan University alumnus.

Extend Your Reach, formerly Presort Services, Inc., has been partnering with businesses for more than 30 years to provide quality direct-mail pieces and 40

team to be involved in MEDA as members and volunteers.

They are all dedicated to the work of the organization despite the time and effort required,” said Kara Wood, President of the Board of Directors for MEDA and Director of Economic Development for the City of Grand Rapids.

low-cost mailing services. Today, the company offers complete integrated marketing services, graphic design, print services and data management. With facilities in Grand Rapids and Lansing, Extend Your Reach serves customers throughout Michigan and nationwide. To learn more, visit extendyourreach.com.

PARKWOOD YMCA CELEBRATES RENOVATIONS The Parkwood branch of the YMCA of Lansing Capital Campaign has raised $489,000 for its Health and Wellness Initiative, which included capital improvements to the 42-year-old building in East Lansing. Plans included an updated track and group activity room, a new cardio center, weight room, and aerobics studio. According to Michelle Prinz, Executive Director of the Parkwood branch, “We are just

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$36,000 from our $525,000 Capital Campaign goal.”

“I’m amazed by the ongoing generosity of our community, as we work together to invest in the health and well-being of our kids and neighbors. With the new renovations to the facility, we are creating space that will better meet the needs of our members, and encourage healthy behaviors and inspire confidence in everyone who comes through our doors,” said Prinz.

Parkwood’s Health and Wellness Initiative is focused on helping the community reduce youth obesity, help seniors suffering from chronic disease, and engage families in physical and social activity.

To donate to the Parkwood YMCA Capital Campaign, please send gifts to Parkwood YMCA, 2306 Haslett Rd. East Lansing, MI 48823.

MERIDIAN CHARTER TOWNSHIP RETAINS OKEMOS LAW FIRM The Charter Township of Meridian has retained the Okemos law firm of Fahey Schultz Burzych Rhodes PLC to serve as the Township’s legal counsel. The Firm was retained following a review of proposals and formal interviews with four law firms, including Fahey Schultz.

Steve Schultz, President of the firm, will serve as the principal attorney for the Township, assisted by other members of the firm as necessary.

Meridian Charter Township is well respected and noted for the quality of its public places, its services and its neighborhoods. The Township has a population of approximately 40,000 and provides a wide range of public services to its residents, including police and fire services, parks and recreation, community planning and development, water and waste water management through a joint authority and property tax administration. The Fahey Schultz firm will serve as the Township Attorney providing legal representation on all matters facing the Township. The services provided will include general advice and counsel to the Township Board and the Township’s Administration, handling property tax appeals before the Michigan Tax Tribunal, and providing labor and employment representation.

More about the Charter Township of Meridian can be found at its website at meridian.mi.us. More about Fahey Schultz Burzych Rhodes can be found at fsbrlaw.com.

DIGITAL DOC ANNOUNCES NEWEST LOCATION IN WALMART Digital Doc’s newest location is open for business. Conveniently located in the Walmart Supercenter on Marketplace Boulevard in Lansing, Digital Doc delivers expert, fast electronic device repair.

“We have been a part of the community for years as Family Video and we are excited to bring more convenience and

value to our customers with Digital Doc,” says Keith Hoogland, President of Highland Ventures, parent company to Family Video and Digital Doc. Lansing District Manager Mike Eaton says Digital Doc’s ability to handle all types of repairs distinguishes the business from other repair centers.

“It’s important to have your device or computer serviced by a certified professional. Our technicians have been through months of extensive training.

I’m continuously impressed by the quality and detail that our technicians put into every repair. Let us bring your device back to life,” said Eaton.

The Lansing Digital Doc location is now accepting both walk-in and call ahead appointments. They are located at 409 N. Marketplace Blvd., inside Walmart.

They are open Monday through Saturday, 10 a.m. to 8 p.m. and Sunday, 10 a.m. to 5 p.m. For more information, visit digitaldoc.com or call (517) 622-3951.

LANSING AREA JOBS FOR MICHIGAN’S GRADUATES SPECIALIST RECEIVES NATIONAL HONOR Jill LaNew was awarded the Jobs for America’s Graduates National Outstanding Specialist Award at the National Training Seminar in New Orleans, La. in July and the Jobs for Michigan’s Graduates (JMG) Specialist of the Year Award in April for her performance, dedication and commitment to the JMG program at Woodcreek Achievement Center in Lansing, Mich.

LaNew is employed by the Lansing School District and is currently in her third year as a specialist with the Capital Area Michigan Works! Jobs for Michigan’s Graduate program.

LaNew maintained 137 contact hours with her students throughout the 20142015 school year to exceed the high standard of 120 contact hours set by JMG L

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and JAG National. This is an exceptional feat considering the challenges faced by students and specialists in the alternative education setting. These awards also recognize her for consistently assisting the JMG statewide team during training and webinars by providing valuable insight and knowledge to her peers.

“Jill has put her heart into this program. She’s attended every webinar, training and youth activity to ensure that she is providing our students with all of the knowledge and education available,” says Karen Maas, coordinator of the Lansing School District’s WIOA Youth Program, under which the JMG program falls. “Jill has become the model of a JMG

specialist. After only two years on the job, she is now mentoring and training new specialists because of her extensive knowledge and commitment to the JMG students.”

The JMG program is dedicated to helping young people stay in school through graduation, pursue postsecondary education and secure quality entry-level jobs leading to career advancement opportunities.

SGT. JAMES W. BUTLER, III AWARDED CONGRESSIONAL BLACK CAUCUS COURAGE AND VALOR AWARD

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OCTOBER 2015

Sgt. James W. Butler, III was recently awarded the 2015 Congressional Black Caucus Courage and Valor Award for his military service in the Vietnam War at the Motown Live: the Michigan CBC Delegation Reception held in September at the Carnegie Library in Washington, D.C. He received the Combat Infantry Badge, Army Commendation Medal, two Purple Hearts and four Bronze Stars, including “V” device for heroism in ground combat. Sgt. Butler gave unconditionally in service to our country and continues to give to the Greater Lansing Community, the State of Michigan and the nation.

NOLAN NAMED TO “BEST LAWYERS IN AMERICA” Lawrence P. Nolan, an Eaton Rapids attorney, has been named “Lawyer of the Year” for 2016 in the Lansing area in the field of Plaintiff’s Personal Injury by “Best Lawyers in America.” This is the second time in three years that Nolan has been named “Lawyer of the Year” in the practice of Plaintiff’s Personal Injury Litigation.

Nolan practices statewide and is President of the Eaton Rapids law firm of Nolan, Thomsen & Villas, P.C. He currently serves as Vice-President of the State Bar of Michigan (SBM).

He is an elected Member of the SBM

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Board of Commissioners, and the SBM Representative Assembly. He also serves as a member of the WMU Cooley School of Law Board of Directors and sits as Chairman of the Board of Directors since 2011. He is a fellow of the Ingham County Bar Foundation and the SBM Foundation.

He was elected to the American Board of Trial Advocates (ABOTA) in 2010.

compounded by stress, current health status and medications. It also covers the importance of proper sanitation to support weakened immune systems.

Certification also required Yanez to learn how to customize and modify each treatment and choose skin care products with safe, non-carcinogenic skin care ingredients.

“I was looking for a way to reach out to my community and help those whose health has been compromised. It is a wonderful “marriage” of esthetic skills with compassion,” said Yanez. “My goal is that through the power of a safe and educated esthetic touch, I can now provide a moment of peace and comfort in the chaos of cancer.”

Nolan also currently serves as the Secretary of the Michigan Supreme Court Historical Society. He has been listed in Michigan Super Lawyers since its original publication and was named by the American Trial Lawyers Association as a Top 100 Trial Lawyer in Michigan from 2010 through 2015.

Nolan was the recipient of the Ingham County Bar Association’s prestigious Leo Farhat Outstanding Attorney Award in 2009, the Thomas M. Cooley Distinguished Alumni Award in 2013 and was named a Leader in the Law by Michigan Lawyers Weekly in 2013.

LOCAL ESTHETICIAN/SKIN CARE SPECIALIST EARNS ONCOLOGY ESTHETICS-USA CERTIFICATION AND NOW OFFERS SPA TREATMENTS TO THOSE WITH CANCER Holt, Mich.-based esthetician/skin care specialist Sarah Yanez L.E., O.E. earned certification in Oncology EstheticsUSA and has expanded her practice to serve individuals with, or recovering from, cancer. The certification, earned through Oncology Esthetics-USA training facilitated by Oncology Spa Solutions®, which prepares professional estheticians to provide safe, customized spa treatments to clients with health compromised skin.

Through the Oncology Spa Solutions®, Oncology Esthetics-USA training program, Yanez underwent extensive training in understanding how cancer and cancer therapy treatments affect the skin, hair, nails and lymphatic system.

The program explores the side effects of cancer therapies and how they are further

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Yanez now offers the specialized treatments at The Lotus Studio located at 2018 South Cedar St. Suite E. in Holt.

For more information about the Oncology Spa Solutions® Oncology Esthetics-USA training program, visit oss-us.com.

asset for the company. “Publicom is a multifaceted firm serving a very diverse clientele so Caroline’s professional accounting expertise is a great fit for us.”

PUBLICOM WELCOMES CAROLINE HOBBS AS BUSINESS MANAGER Publicom Inc., an East-Lansing-based fullservice marketing communications firm, has named Caroline Hobbs as business manager. She replaces Gloria Eaton who recently retired after serving as business manager at Publicom for more than 12 years.

Hobbs has more than 20 years of financial management experience. At Publicom, she is charged with coordinating the daily demands of accounting, office management and human resources processes.

Lisa O’Connor, president of Publicom, said Hobbs’ extensive experience is an

MSUFCU ANNOUNCES NEW VICE PRESIDENT OF SALES AND FINANCIAL EDUCATION

April Clobes, President and CEO of MSU Federal Credit Union, is pleased to announce the recent addition of Whitney M. AndersonHarrell to its executive Andersonteam as the Vice Harrell President of Sales and Financial Education. Anderson-Harrell will oversee the Credit Union’s Member Relations and Financial Education Departments, which will include the new Financial Innovation and Education Center.

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Hobbs

Hobbs is a native of Jackson and holds an associate degree in applied science, accounting/finance from Jackson Community College.

Founded in 1979, Publicom Inc. is an integrated marketing communications firm specializing in brand development and on-brand behavior for service companies throughout the nation.

Publicom provides strategic planning, marketing research, advertising, creative services, media planning services and public relations counsel to clients in a variety of service industries including healthcare, finance, insurance and education. To view Publicom’s portfolio or for more information visit publicom.com.

Anderson-Harrell previously spent 13 years working for Kraft Foods, and brings a wide variety of skills to MSUFCU, including category business leadership and regional sales experience. She holds a Bachelor of Science in business administration: Marketing from Michigan State University, a Master of Business Administration from Wake Forest University and has had foreign business studies in Brazil, Chile, Argentina, Uruguay and Mexico.

Whitney serves on the Community in Schools — Michigan board, on the Greater Lansing Food Bank committee and is a member of the Network of Executive Women (NEW).

Clobes commented, “Whitney is an excellent addition to our executive team, and her experience will greatly benefit the Credit Union. She will provide exceptional leadership in

G R E AT E R L A N S I N G B U S I N E S S M O N T H LY

OCTOBER 2015

LEAP WELCOMES BRENT CASE AS NEW VICE PRESIDENT OF BUSINESS ATTRACTION Lansing Economic Area Partnership (LEAP) welcomes Brent Case, an experienced leader in international business, to its business attraction unit.

Case will be responsible for leading LEAP’s national and international business attraction activities on behalf of the Lansing region.

Case brings many years of economic development experience, as well as private sector industry expertise, most recently serving as the global development executive at TOC Logistics International, a global freight forwarder and supply chain management company located at the Capital Region International Airport. Additionally, he has worked with the Michigan Economic Development Corporation developing statewide advanced manufacturing

our growing member relations and financial education divisions.”

MSU Federal Credit Union, the world’s largest university-based credit union, offers a full range of personal — and business-related — financial services to Michigan State University and Oakland University Faculty, staff, students, alumni association members, and their families worldwide in addition to a variety of select employee groups. Founded in 1937 by a few MSU professors and employees, MSUFCU has 15 branches, over 205,000 members, more than $2.9 billion in assets, and over 640 employees. MSUFCU was named 2014 Credit Union of the Year by the National Association of Federal Credit Unions (NAFCU and the number one employer in the large-employer category in the 2014 Top Workplaces list by the Detroit Free Press.

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initiatives and the Lansing Regional Chamber of Commerce and Capital Region Airport Authority to promote international trade while developing Port Lansing’s infrastructure and cargo programs.

Case has a B.S. in Industrial Management and an M.A. in Industrial Technology & Management, both from Central Michigan University. Additionally he served in the military from 1988 to 1995 as a paratrooper in the US Army. He is a veteran of the 1991 Persian Gulf War and later served in the Michigan National Guard’s only Airborne Ranger unit while attending classes at CMU. SIENA WEALTH ADVISORS OF GRAND LEDGE MAKES EXCLUSIVE LIST AS TOP INVESTMENT ADVISORY FIRMS IN THE NATION BY “ACCOUNTING TODAY” MAGAZINE. For the sixth consecutive year “Accounting Today,” a professional magazine serving Certified Public Accountants and investment advisors, included Siena Wealth Advisors on the exclusive list of the nation’s Top CPA Investment Firms in its September 2015 edition. Siena was listed in the “Large Firm” category with assets exceeding

$100 million. Since 2010, only Siena and four other investment advisory firms from Michigan made the exclusive list as the nation’s top CPA investment advisory firms.

Siena Wealth Advisors is a fee-only registered investment advisory firm providing institutional investment advisory services and financial planning in a fiduciary capacity to high net-worth individuals, businesses and not-forprofits. Siena is headquartered in Grand Ledge, Michigan.

MOBILE MONDAY MICHIGANLANSING CHAPTER RE-LAUNCHES WITH A FOCUS ON ‘APPS FOR THE ENTERPRISE’

Also, speaking at the event was Linda Daichendt, CEO/executive director of the Mobile Technology Association of Michigan (MTAM), the non-profit parent organization of Mobile Monday Michigan and the Lansing chapter.

Daichendt’s presentation focused on the impact of mobile/wireless technologies on Michigan’s economy and various industries across the state, the opportunities these technologies offer the state for job creation and small business development, as well as on MTAM’s efforts to support Lansing’s mobile/wireless tech community.

Mobile Monday Michigan-Lansing Chapter recently held an event to celebrate its re-launch with the keynote topic ‘Apps for the Enterprise; How is Business Maximizing the Benefit of Apps’ presented by Jeff Imholz, WebSphere Technical Specialist for IBM.

The chapter’s new location is at the East Lansing Technology Innovation Center, 325 E. Grand River Ave. in East Lansing. The event was sponsored by MTAM, the East Lansing Technology Innovation Center and Recruitment Management Consultants.

IBM has been in the news a lot lately for their collaboration with Apple on enterprise apps. Imholz shared with

Mobile Monday Lansing Chapter Leader, Leo Dion states, “Lansing really needs a resource focused on mobile/wireless

STATEWIDE NOTABLE NEWS:

CAPITAL AREA MICHIGAN WORKS! INVESTS $3 MILLION INTO COMMUNITY PARTNERS, REGION’S TALENT Capital Area Michigan Works! is investing in regional talent by allocating more than $3 million to community partners through Workforce Innovation & Opportunity Act funding.

Clinton Task Force on Employment received a total of $629,680 for adult programming, dislocated worker programming and youth programming. Clinton Task Force on Employment is a CAMW! employment agency in St. Johns.

Eaton Regional Education Service Agency received a total of $771,714 for adult programming, dislocated worker programming and youth programming. Lansing School

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Mobile Monday Lansing attendees the IBM perspective on the Internet of Things (IoT) and how it is being interpreted in the enterprise space, along with insights related to the aforementioned partnership with Apple for Enterprise App Development.

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District received $799,579 for youth programming. Eaton RESA and Lansing School District programs provide educational and employment services for eligible in-school and out-of-school youth ages 16-24 years old.

Peckham Inc. received a total of $1,048,114 for adult and dislocated worker programming. Peckham Inc. is a nonprofit community rehabilitation organization that strives to provide opportunities to maximize human potential.

The Workforce Innovation & Opportunity Act helps provide job seekers with employment, education, training and support services and match employers with the skilled employees needed to compete in the global economy.

President Barack Obama signed WIOA into action in July 2014.

OCTOBER 2015

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tech where people can go to get advice, make connections, learn about the latest in mobile/wireless tech, and gain new opportunities. Mobile Monday provides all this and more for the Lansing tech community!”

Anyone interested in participating on the Mobile Monday Lansing Steering Committee, or wanting to submit a topic or speaker for consideration for future events, can contact MTAM at info@ GoMobileMichigan. For more information about Mobile Monday Lansing or to join, visit meetup.com/MoMoLansing/.

FRASER TREBILCOCK LAWYERS SELECTED FOR 2015 LIST OF SUPER LAWYERS, RISING STARS IN MICHIGAN

Teahan

Twelve Fraser Trebilcock attorneys have been selected for inclusion on the 2015 list of Super Lawyers, with two additional attorneys named “2015 Rising Stars in Michigan.”

The firm is also proud to announce that attorney Marlaine C. Teahan has been included as one of the ‘Top 50 Female Attorneys in Michigan’, one of the ‘Top 50 Consumer Law Attorneys in Michigan’, and as one of the ‘Top 25 Female Consumer Law Attorneys in Michigan’. Here is the complete list of Fraser Trebilcock attorneys selected: Attorney named as a Super Lawyer/ Practice Area: • Michael E. Cavanaugh/

Business Litigation • Graham K. Crabtree/Appellate • Michael P. Donnelly/

Business Litigation • Anita G. Fox/Business Litigation • Max R. Hoffman, Jr. /Health

Care Law • Peter D. Houk/Alternative

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• Darrell A. Lindman/

Employee Benefits • David E.S. Marvin/Utilities Law • Thaddeus E. Morgan/

Business Litigation • Gary C. Rogers/Creditor

Debtor Rights • Thomas L. Sparks/Health Care Law • Marlaine C. Teahan/Estate

& Probate • J.J. Burchman/Business Law

and in their local communities across the state of Michigan.

Earlier this year, DFCU Financial, an active community partner in the Detroit, Ann Arbor, Grand Rapids and Lansing areas, announced that its local education donations have topped $500,000 since 2004. These donations primarily funded financial education and helping children build positive lifelong financial habits.

For more information about DFCU Financial, visit dfcufinancial.com or about Game On Cancer, visit gameoncancer.com.

• Melisa M.W. Mysliwiec/Elder Law

The selection process for Super Lawyers is multi-phased and includes independent research, peer nominations and peer evaluations. In the United States, Super Lawyers Magazine is published in all 50 states and Washington, D.C., reaching more than 13 million readers.

Fraser Trebilcock is one of Michigan’s longest-established full-service law firms. With offices in Lansing, Detroit, and Grand Rapids, and through its association with SCG Legal, Fraser Trebilcock has access to a global network of independent law firms. More information is available at fraserlawfirm. com or statecapitalgroup.org.

DFCU FINANCIAL ANNOUNCES $100,000 SPONSORSHIP OF GAME ON CANCER DFCU Financial, a leading Michigan credit union with branch locations in the Detroit, Ann Arbor, Grand Rapids and Lansing areas, announced today that it donated $100,000 to Game On Cancer, a joint initiative between the Detroit Lions and the Josephine Ford Cancer Institute (JFCI). The donation will help patients in need cover nonmedical-related expenses and will also fund research at JFCI, which is a leader in developing new therapies and applying new technologies to combat cancer in Michigan and around the world.

In addition to providing monetary support, DFCU Financial employees will participate in fundraising activities at Ford Field during Detroit Lions games

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OCTOBER 2015

HOME TOWNE REALTY GROUP MERGES WITH WEICHERT, REALTORS® Weichert, Realtors® is pleased to welcome Home Towne Realty Group to the national Weichert® franchise network. Broker®/ Owner Kyle Shaw is leading the new office, now known as Weichert, Realtors® — Home Towne, an independently owned and operated member of Weichert Real Estate Affiliates, Inc. (WREA).

“The firm started by my grandparents over 35 years ago has been successful, in part, because of the focus we put on customer satisfaction. In addition, not telling clients what they want to hear but what they need to hear. Selling their home for top dollar in a short period of time through accurate pricing and aggressive marketing has been our gameplan from day one. Partnering with Weichert® has allowed us to do all that and more with the best technology and tools in the industry, backed by a wellknown and trusted brand,” said Shaw.

Weichert, Realtors® — Home Towne is a member of the Greater Lansing Association of Realtors®, the Michigan Association of Realtors® and the National Association of Realtors®. The office covers Greater Lansing including the counties of Ingham, Eaton, Clinton and Shiawassee.

For more information, visit weichert.com or call (517) 372-2273.

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IT’S NOT JUST WHAT YOU KNOW. IT’S WHAT YOU DO WITH THE INFORMATION.

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The First Half 2015 Mid-Michigan MarketView reports on office, industrial and the retail sectors has been released.

These reports offer information on local market conditions, statistics and trends around Mid-Michigan. To receive the MarketView reports when they are released please contact us. Please also join the CBRE Gateway Part ofResearch the CBRE affiliate network to access local MarketViews from around the globe past and present and other valuable research resources, outputs, tools and regional websites from across the globe at www.cbre.com/researchgateway Part of the CBRE affiliate network

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1111 Michigan Avenue, Suite 300 East Lansing, MI 48823 +1 517 351 2200

OCTOBER 2015

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