December 2017 Issue

'Delete' Will Not Save You in Court: Employers have a duty to preserve email evidence

By Lindsay Raymond

A salesperson filed a sexual harassment lawsuit against her former employer in violation of Michigan’s Elliott-Larsen Civil Rights Act. She alleged that her supervisor was demanding sexual favors and that he terminated her after she refused. The employer denied the allegations and asserted that she was terminated as a result of her own misconduct.

In discovery, the salesperson requested that the company produce all emails between her and the supervisor. Afraid that the supervisor’s communications with the salesperson could be taken out of context, they deleted all of the requested emails and said they no longer had them. The salesperson …

Microloans Create $2.5 Million Local Footprint: Northern Initiatives steps in when banks can't

By Amy Lane

Opening three restaurants in six years is quick by anyone's standards.

But with a little help from Northern Initiatives, Simon Joseph was able to do just that.

“They’re more than just a lender,” said Joseph, owner and managing partner of Roaming Harvest food truck, Harvest, and Gaijin. “They’ve been a really good partner for us, throughout our growth.”

Northern Initiatives isn’t a traditional bank. It’s what’s known as a Community Development Financial Institution or CDFI …

$10 Million by 2020: Venture North Funding & Development increases its capital lending base goals

By Amy Lane

In the more than two and a half years since its creation, Venture North Funding & Development has built a lending portfolio and name assisting small businesses.

It’s now looking to go broader and deeper into the 10 counties it serves, tapping new partnerships and sources of capital beyond what had been a $5 million lending base and honing in on low- to moderate-income communities as part of its recent federal certification as a Community …

Behavioral Finance Explains Why You Aren't Saving

By Meghan Phillips Dykstra

Americans are not saving enough for retirement. Behavioral finance attempts to answer why there is a lack of retirement savings and, more importantly, makes recommendations as to how to fix the deficit.

Saving is not easy. There are competing demands in raising children and purchasing a home versus future retirement needs. All Americans would like to retire well, but few feel confident that they will.

The recent winner of the Nobel Memorial Prize in Economic …

Show Me the Money: High loan demand spurs pressure for new deposits

Banks are stepping up the hunt for deposits in order to meet strong local demand for loans.

“For the first time in seven years, I’m noticing a competitive pressure on deposits,” said Connie Deneweth, chief executive officer of Traverse City State Bank. “Banks are raising interest rates on money markets …

By Rick Haglund

Don't Just Vote for Public Transit, Try Riding It

Despite our region’s natural and cultural attractions, affordability remains a major challenge for businesses seeking qualified, dependable workers. Or maybe it’s because of the region’s attractiveness that the workforce we need struggles to live here.

The new term ALICE (Asset Limited Income Constrained Employed) describes what was previously called “the …

By Jim Lively

What 'Brown' Has Done For Us

Does effective public policy become poor policy when it crosses a street? Is a bad idea in one part of town a good idea when it’s implemented a few blocks away?

Those seem like odd questions. But they’re pertinent given the evolving attitudes among many local officials and residents over …

By Doug Luciani

When Disaster Strikes, Call These Guys

From their headquarters on Seeley Road just north of the village of Kalkaska, C.C. Power Electrical Contracting dispatched 100 men, bucket trucks and other equipment to Florida in early September.

They were there to deal with the aftermath of Hurricane Irma, one of the most powerful storms to ever make …

By Al Parker

What $250K Gets You in Northern Michigan

By Craig Manning

Action Figure: TC Chamber's Max Anderson reflects on first year as executive director

Max Anderson loves people and he loves Traverse City, traits that are serving him well as he closes in on his first year as executive director of the Traverse City Area Chamber of Commerce.

“I don’t believe in strangers, just friends I haven’t met yet,” Anderson said, noting he knew …

By Mary Bevans Gillett

The Go-Giver: A Little Story About a Powerful Business Idea

By Chris Wendel

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