Huntington showed its commitment to Cleveland last week with the opening of 10 branches in area Giant Eagle stores, with plans for eight more on the way.
"The 10 openings have created 77 jobs to date," says Huntington's Greater Cleveland president Dan Walsh. "By the end of the year we will create more than 100 jobs in Cleveland. With the Giant Eagle openings we are one of the largest markets in Cleveland, and by 2012 we will be the largest."
Over the next four years the bank plans to open a total of 45 branches in the region, creating 300 new jobs. "It shows our dedication," says Walsh. "As a lifelong Clevelander, one of the really exciting things about Huntington is its dedication to Cleveland. This Giant Eagle endorsement is another way of talking the talk."
The new branches will tout the convenience of being in the Giant Eagle stores, with extended hours and banking seven days a week. In addition to the 45 branches in Giant Eagle, Huntington has 62 free-standing branches.
Walsh says Huntington just wants to be a part of the economic growth in the region. The bank is the top SBA lender in Cleveland, with a $4 billion commitment to invest in small businesses. "We believe Cleveland is a great place of opportunity," says Walsh. "We expect through these investments we'll catalyze our economic share. Huntington's really thrilled to be a part of this economic growth."
Source: Dan Walsh
Writer: Karin Connelly
Recent CWRU mechanical engineering graduates Austin Schmidt and Solomon Alkhasov won the 2011 Idea Competition, sponsored by LaunchHouse and CSU's Accelerated MBA program at Nance College of Business. They created a company called Affinity Algorithms, which develops proprietary computer arbitrage software to facilitate transactions between buyers and sellers in various online marketplaces. The software provides greater liquidity and price transparency in the marketplaces.
"We are developing a suite of online software that helps the seller in fragmented marketplaces better manage inventory," explains Schmidt. Although Schmidt and Alkhasov came up with the idea from their experiences buying and selling textbooks in college, they say it can be applied to many online marketplaces.
The idea for Affinity Algorithms came about in January, they set up shop in March, and landed at LaunchHouse this month. They plan to roll out a full build of the software in September.
Students from all Northeast Ohio colleges and universities were invited to pitch a business concept to a panel of entrepreneurs, venture capitalists, CSU faculty and LaunchHouse staff. The contest primarily focused on students who had innovative ideas in the fields of software and internet technology, low-tech medical devices and clean energy.
The second winner is Ronny Shalev, also a student at Case. Shalev created a product known as an autonomous intravenous (IV) insertion tool that will be the most effective replacement for the current procedure of manual vein localization and needle insertion. Shalev's tool will completely replace the need for trained medical staff.
Contest winners were each awarded a $2,500 scholarship to the Global AMBA program along with a prize basket of support services from LaunchHouse, "Additionally, we received a $500 check from LaunchHouse, along with a bunch of services that include legal services, accounting, and free space for three months," says Schmidt. "All in all, a very comprehensive package with everything needed to get a business off the ground."
The winners will also have the opportunity to compete for up to $5000 in follow on funding.
Source: Austin Schmidt
Writer: Karin Connelly
The PNC SmartHome is complete at the Cleveland Museum of Natural History and open to visitors who want to learn how to make environmentally-friendly improvements to their own properties. The 2,500-square-foot three-bedroom house uses 90 percent less energy than a traditional home, and it uses no furnace for heating and cooling. The walls are a foot thick and packed with insulation, while the windows are triple-pane glass -- both of which reduce heat loss. The home is heated and cooled with small heat pumps.
"The museum wanted to help people understand how they can dramatically reduce energy consumption," says David Beach, director of the GreenCityBlueLake Institute at CMNH. "We think the SmartHome will be the first home to receive passive home certification in Northeast Ohio."
Other features include hardwood floors made from 100-year-old reclaimed wood and artwork with environmental themes created by local artists. The landscaping features storm water management techniques to keep rain water on-site instead of in storm sewers.
So far, the home has been well-received. "People walk in it and go, 'wow,'" says Beach. "What they are reacting to immediately is what a beautiful home it is. Then they see they can learn things [to do] for their own homes."
The house will be moved to an empty lot on Wade Park Boulevard this fall and will go on the market soon. Beach says they've already received inquiries about purchasing the house.
Tours run Monday through Saturday 11 a.m. to 4 p.m., Wednesdays from 11 a.m. to 9 p.m. and Sundays 12:30 p.m. to 4 p.m. Tickets are $5 with museum admission, $3 for those who can't go upstairs. Children 2 and under are free.
Source: David Beach