(Ups) to Primus Venture Partners. The Mayfield Heights-based VC firm invested $6 million in Secant Technologies as lead investor of Secant’s first round of external financing. With the move, Primus solidifies its place as one of the most committed VC firms for local companies seeking financing.
(Downs) to Richmont Capital Partners. The Dallas-based largest shareholder in Royal Appliance (at 19.7 percent) won’t budge on its demand for a per-share price “in the low double digits.” With Royal’s stock hovering around five bucks a share, it’s no wonder the company hasn’t been able to suck up a buyer.
(Ups) to Bridgestone. The maker of Firestone tires made a bold move in recalling three types of popular ATV-style tires. Rather than suffer the maelstrom that was sure to accompany the outbreak of tire-associated problems, the company quickly pulled the product from the shelf and announced plans to compensate consumers. Better to have the rubber hit the pavement than have the pavement tear it asunder.
(Downs) to Bridgestone. While the decision to recall Firestone tires was certainly a smart one, putting Ohio tire consumers at the bottom of the list hasn’t done much to instill a sense of trust into the region Firestone once called home, then abandoned for Nashville, Tenn.
(Ups) to the honorees of the 2000 Innovation in Business Conference. Their dedication to pursuing new ideas, products and processes leads the way for all business owners. Now if someone could just develop that teleportation device …
