Driven by a passion for the arts and dedication to the community, Beachland Ballroom & Tavern co- owner Cindy Barber and her business partners managed to talk themselves out of shutting down the venue year after year. "We almost died last summer," Barber said. "It was so bad." Such conversations have become more routine in recent years for the 20-year-old business as competition for entertainment spending increases, costs grow and cash flow slows. At roughly 1%, margins are already razor thin...

Inspired by ongoing protests against police brutality and systemic racism, many businesses, sports teams and other organizations are sensing a pivotal moment to articulate how they intend to be the change they wish to see in the world. In a June 8 email to staff seen by Crain's, Gregg Eisenberg, managing partner for Cleveland-based Benesch, one of the largest law firms in Northeast Ohio (by number of in-market attorneys), discussed how he wants to position the corporate law firm to "be part...

MAI Capital Management has announced the acquisition of Grisanti Capital Management of New York in a deal that adds about $225 million in assets under management (AUM) and five professionals to the Cleveland-based RIA. Terms of the all-equity deal were not disclosed. In its announcement, MAI said the combination was "born out of a decades-long friendship and professional relationship between Christopher Grisanti and (MAI managing partner) Rick Buoncore." "We continue to be strategic in our...

Victory Capital has announced the hiring of David Alt as its director of responsible investing, a new position based in Cleveland. Alt will report to Kelly Cliff, president, investment franchises for Victory's parent company, Victory Capital Holdings Inc. (NASDAQ: VCTR). Here's how Victory describes the position: Mr. Alt will support integration and reporting of environmental, social and governance (ESG) metrics across Victory Capital's investment products. In collaboration with the...

It has been a good few months for Ohio's medical marijuana business. Through May 11, there has been about $57 million in marijuana retail sales — about on par with how much marijuana was sold in the entire first year of sales in 2019. In other words, there's been as much marijuana sold in less than five months this year than all of last year, according to the latest sales data. The Buckeye State's marijuana industry has certainly developed since sales began in January 2019. But this is all...