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Tuesday, 03 September 2013 09:08

Sept. 3, 2013: Spartan Stores merger with Nash Finch moves forward; Independent Bank completes TARP repurchase; Charter House Innovations acquires Greystone Public Seating

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Senator Debbie Stabenow (D-MI) announced a new job training program on Tuesday. The New Skills for New Jobs Act seeks to provide a federal match to double the number of workers and businesses that can participate in the Michigan New Job Training Program, a program in place since 2008 that trains workers with the necessary skills for high-tech jobs. [4:55 p.m.]

On Aug. 28, the newly launched Downtown Grand Rapids Inc. released a request for proposal for a consultant to help the organization map the next 15 years of downtown planning in Grand Rapids. The goal is to identify short, middle and long-term investments that are expected to become DGRI’s future work plan, according to the release. A timeline in the RFP to complete the Downtown Plan is estimated at nine to 14 months. The application deadline is Oct. 6. [4:55 p.m.]

Grand Rapids-based Heart of West Michigan United Way set its 2013 campaign goal at $12.5 million, or 2 percent higher than last year, according to a statement. The 2013 campaign will be led by Blake Krueger, chairman, president and CEO of Wolverine World Wide Inc. [11:45 a.m.]

In a conference call with reporters this morning, Governor Rick Snyder talked about his upcoming 10-day trade mission to Asia. The Governor will travel with a delegation that includes representatives from the Michigan Economic Development Corporation (MEDC), the Department of Agriculture and Travel Michigan. There will also be representatives from 15 different Michigan companies, primarily in the manufacturing sector. The delegation will spend Thursday evening in Shanghai at a Pure Michigan tourism forum. The delegation will travel to Chongqing, a large automotive hub. He will also spend time in Tokyo, Japan meeting with several Japanese business executives and deliver the keynote address in Beijing at the Chinese International Auto Parts Expo. This will be the Governor’s sixth trade mission since taking office. He added that should the legislature pass the hotly-contested Medicaid expansion while he is gone, he would sign the bill upon his return. [10:57 a.m.]

Grand Rapids-based EHTC Technology Solutions is now SBS Group Grand Rapids. The company recently signed a deal with a consortium of Microsoft Dynamics Partners and is looking to expand its capabilities providing software solutions to professional services, construction, manufacturing, agriculture, distribution, healthcare and not-for-profit industries. [10:37 a.m.]

Holland-based Charter House Innovations has acquired Greystone Public Seating of Zeeland. In a statement, Charter House President Chuck Reid said the deal made sense because the two companies shared a commitment to product quality and locally sourced materials. The transaction also expands Charter House’s product categories and offerings. Terms of the deal were not disclosed. Greystone manufactures theater, performance, worship and educational seating, while Charter House designs and manufactures seating and decor for the restaurant and hospitality industries. [10:23 a.m.]

Spartan Stores
(Nasdaq: SPTN) said today that the Hart-Scott-Rodino waiting period for the proposed merger with Nash Finch Co. expired without any action from the federal government, one of the conditions for the merger to move forward, according to a press release. The merger is expected to be complete by the end of calendar year 2013, pending further regulatory approval.

After a successful public offering of 11.5 million shares of common stock in August that raised $89.1 million before expenses, Independent Bank Corporation (Nasdaq: IBCP) announced today that it had repaid the U.S. Department of Treasury the $81.0 million for its preferred stock and warrant that it received as part of the Troubled Asset Relief Program, according to a press release. The move will allow Independent to realize $4.6 million in annualized savings.

Read 2165 times Last modified on Tuesday, 03 September 2013 17:04

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