Departments
Ups and downs
By Dustin S. Klein
Smart Business Cleveland | April 2001
(Ups) to Brown, Gibbons, Lang & Co. The Cleveland-based investment banking firm recently brokered the sale of Cincinnati-based Slush Puppie Corp. to Dr. Pepper/Seven Up Inc., providing the frozen beverage manufacturer access to expanded marketing muscle and worldwide distribution channels. The deal also frees up Slush Puppie founder Will Radcliff's frozen assets.
(Downs) to energy suppliers, which are reporting record earnings in the midst of a nationwide energy crisis and skyrocketing natural gas and oil prices. We're for free trade and deregulation as much as the next business owners, but something smells rotten about the current state of affairs.
(Ups) to Eaton Corp. The Cleveland-based maker of capital goods and car and truck components donated 14 patents valued at $8.4 million to The Ohio Intellectual Property Collaborative. The group will license or sell those patents to small manufacturers interested in commercializing the technology. Score one for regional economic cooperation.
(Downs) to Gliatech. The once-promising biotech company can't seem to shake its troubles with the FDA, investors and National Association of Securities Dealers. With directors jumping ship and financial losses still mounting, how much longer can it feasibly hang on? Not even ADCON-L can heal this scar tissue.
Correction: Our February story, "No more rubber stamps," contained an incorrect photo identification. It should have read A. Malachi Mixon III, chairman and CEO of Invacare Corp. We apologize for the error.
