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In the News (736)

Two lakeshore towns receive MSHDA support

Written by | Tuesday, 05 May 2015 15:24 |

The lakeshore communities of Hart and Grand Haven have been selected for assistance by the Michigan Main Street Center (MMSC), a program through the Michigan State Housing Development Authority (MSHDA).

Despite a relatively slow start to the first quarter of 2015, regional companies have begun to see marked improvement in their businesses as the overall economy continues improve. That’s according to the latest Current Business Trends report published by Brian Long, director of supply chain management research for Grand Valley State University.

Bloomfield Hills-based Agree Realty Corp. (NYSE: ADC) has sold a retail property in Marshall in Southwest Michigan. The Kmart-anchored Marshall Plaza sold for approximately $5.5 million, according to a statement.

Southfield-based 123Net Inc. announced yesterday its acquisition of T2 Communications LLC of Holland. The deal comes as the telecommunications and Internet service provider looked to expand its customer base and capabilities in West Michigan, where it has operated since 2000, according to a statement.

Shareholders at the privately held Lake Michigan Financial – the parent company of The Bank of Holland and The Bank of Northern Michigan – voted Monday to approve the sale, according to a filing Chemical Financial (Nasdaq: CHFC) submitted to federal securities regulators.

Amway appoints new CFO

Written by | Tuesday, 05 May 2015 10:42 |

Ada-based direct selling giant Amway Corp. announced today that it hired Mark Stevens as its new chief financial officer, according to a statement.

Grand Rapids-based ADAC Automotive announced its acquisition of an international automotive supplier through its Vehicle Access Systems Technology LLC (VAST) alliance.

The Grand Rapids office of Chicago-based real estate capital firm Cohen Financial has secured $34.5 million in acquisition funding for a New York investor.

Bronson has no immediate plans to redevelop the 131,419-square-foot building or the 5,353-square-foot building that served as the headquarters of the former Business Review West Michigan, according to a news release. The Gazette building at 401 South Burdick Street has been vacant since 2012 when the MLive Media Group newspaper moved to 306 South Kalamazoo Mall.

The April index from Michael A. Dunlap & Associates registered a 56.80 on a scale of zero to 100. That compares to a 57.26 in January and a 57.58 six months ago. The April index was also the third best recorded since July 2007.

Software design and development firm Atomic Object LLC announced today its plans to expand its operations and move into a new facility along Wealthy Street in Grand Rapids.

Refusing to take “no” for an answer, Mylan N.V. today raised its offer to acquire Perrigo Co. plc to nearly $32.7 billion — an offer that was quickly rejected.

The plan for ancillary development as part of Michigan State University’s proposed Biomedical Research Center in Grand Rapids took a step forward this morning.

While the effort to raise the state’s sales tax to fund road repairs has fractured the Michigan business community in recent months, one regional economic development agency made a rare endorsement today by coming out in support of Proposal 1.

Grand Rapids-based Electronic Cigarettes International Group Ltd. plans to use a $41 million loan to alleviate long-standing debt and bolster its balance sheet.

Global footwear and apparel marketer Wolverine World Wide Inc. said today that the strong U.S. dollar continued to pose a headwind last quarter.

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