Hennessey Capital, a Division of Hitachi Capital America Corp., is Now Hitachi Business Finance

Rochester, Mich., Oct. 31, 2013 – Hennessey Capital has formally changed its name to Hitachi Business Finance to better reflect the global power and strength of its parent company, Hitachi Capital America Corp. The new name takes effect immediately.

The change comes one year after Hennessey Capital was acquired by Hitachi Capital America Corp. “This is more than just a new name,” says Mike Semanco, president and COO of the Hitachi Business Finance division. “As we continue to work locally here in Michigan and with our expansion across the country, we are finding that people are excited about the power of Hitachi and the results we can deliver for our clients.”

Hitachi Business Finance offers creative, flexible solutions for a variety of complex business financing needs. Lending solutions include factoring and revolving lines of credit, each designed to enhance profitability and strengthen cash flow.

“We are excited to make this change,” adds Semanco. “The strength and size of Hitachi provides us with the flexibility to offer creative lending solutions at more competitive rates. In the end, our goal remains the same – to offer financing solutions to complex business challenges and customize an individual solution to move your business forward.”

William H. Besgen, president of Hitachi Capital America Corp., adds “The Hennessey Capital team has really been team Hitachi for the past year. We felt that now was the right time to make the final transition. The work they’re doing will only be strengthened and enhanced by carrying the Hitachi name across Michigan and the country.”

About Hitachi Business Finance
Hitachi Business Finance (formerly Hennessey Capital) is a division of Hitachi Capital America Corp. and provides customized, flexible financing solutions for companies looking for creative options to grow and sustain their businesses. Our solutions include factoring and revolving lines of credit secured by accounts receivable, inventory, and equipment. Based in Rochester, Michigan, we provide financing solutions for small to mid-market companies across the United States. Learn more by calling (248) 658-1100.

About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to Hitachi group companies and the commercial business sector in the United States and Canada. Hitachi Capital America offers a variety of asset-based financing solutions with a business focus on truck, vendor, trade, and medical equipment finance, as well as lease discounting and software financing.

Learn more at www.hitachicapitalamerica.com

Dealing with Income Fluctuation on the Marketplace

What if you’re self-employed and experience income changes year over year? What if you have a job change which significantly impacts your income?

For those shopping for individual coverage on the Health Insurance Marketplace, it’s crucial to understand how subsidies function. A few pointers:

  • Income fluctuations should be reported via the Marketplace ASAP since income is used to determine subsidies.
  • The IRS will reconcile subsidies against income at tax time. Significant over- or under-estimations of income may mean that the IRS will either refund or bill for the difference.
  • For those who qualify, subsidies can either be claimed fully, partially, or deferred until tax time.
  • Accepting full or partial premium subsidies means that the amount of the subsidy will be paid monthly, in the form of partial payment for insurance premiums, directly to the individual’s insurance company.
  • Deferring premium subsidies until tax time means that the individual who chose to enroll in a plan will be fully responsible for paying the monthly premium directly to the insurer, but will receive a lump sum back from the IRS in the form of a tax refund.

This article from Bloomberg provides a helpful overview.

Questions or concerns about this, or any, topic related to health care?  Post them at www.MIHealthAnswers.com, or email advisor@mihealthanswers.com, for a quick, reliable response.

This post was contributed by Shannon Saksewski (Health Education Program Manager, Detroit Regional Chamber).  Shannon can be contacted at ssaksewski@detroitchamber.com.


The U.S. M&A market will be stronger in the next 12 months compared to the last 12 months, according to Dykema’s 2013 M&A Outlook Survey. The ninth annual survey of leading company executives and outside advisers examined how the U.S. economy, financing challenges, and other domestic and global matters will impact the M&A market in the coming year.

The survey revealed that most respondents (68 percent) believe that the U.S. M&A market will be stronger in the next 12 months compared to the last 12 months. In addition, half of the respondents (50 percent) possess a positive outlook about the U.S. economy going forward. This is a dramatically different picture from the 2012 survey, which saw only 37 percent of respondents believing the market would be stronger and 25 percent saying they felt positive about the state of the economy in the next year.

“As the nation continues to recover and rebound financially, the business community appears to be more optimistic about their investment options and the U.S. economy this year,” said Dave Cellitti, leader of Dykema’s M&A practice. “Excess capital would seem to be one main reason for this surge in optimism; however, executives are still cautious as they continue to make decisions in a turbulent economic environment.”

U.S. economic conditions were cited again by most respondents as an explanation for M&A activity. The continuous “kick the can down the road” crises, including the sequester, government shutdown, and looming debt ceiling have made their impact on the confidence of M&A players. This year more survey respondents anticipated that they would be involved in an acquisition (70 percent) as opposed to 53 percent in 2012. For the sixth year in a row, most respondents (57 percent) expect strategic U.S. buyers to increase their presence most in the market.

“The business community is feeling better and is confident that it will be involved in an acquisition next year,” explained Jeff Dalebroux, director of Dykema’s Business Services Department. “This increased confidence is undoubtedly connected with lower rates, availability of capital and an overall positive outlook for the economy moving forward.”

According to Dykema, the survey yielded a number of other interesting conclusions, including:

  • A positive outlook. In 2012, only 25 percent thought the U.S. economy would look positive over the next 12 months compared to 50 percent of respondents in this year’s survey.
  • Room for improvement. In 2012, only 30 percent thought the economy would improve in the next 12 months when comparing it to the prior 12 months. That number rose to 54 percent this year.
  • Continued uneasiness. When rating the most common obstacles experienced in deals within the past 12 months, financing went from the second most common to the fourth most common obstacle from 2012 to 2013. Uncertainty in the economy remained at the top spot.

In September, Dykema distributed the survey via e-mail to a group of senior executives and outside advisors including CEOs, CFOs and other company officers. Survey respondents were asked about the future of the market, cross-border deals and the general strength of the economy. The results will be revealed at Dykema’s State of the Economy and 2013 M&A Outlook event in Chicago where distinguished speakers including Kristen Scarpa, vice president and investment strategist at Barclays; Jonathan Leiman, vice president at Pfingsten Partners; and Robert Satow, managing director at Lincoln International LLC will discuss the issues that are shaping the economy, the M&A market and what the next 12 months will hold.

For a copy of the full results of the survey, please contact Martin Grego at (312) 252-4117 or (mgrego@greentarget.com) or visit http://www.dykema.com/mergers/.

About Dykema

Dykema serves business entities worldwide on a wide range of complex legal issues. Dykema lawyers and other professionals in 13 U.S. offices work in close partnership with clients – from start-ups to Fortune 100 companies – to deliver outstanding results, unparalleled service and exceptional value in every engagement. To learn more, visit www.dykema.com and follow Dykema on Twitter http://twitter.com/Dykema.

IPS Technology Services Hires an Advanced .NET, C# Developer to Continue Its Pace of Growth

Troy– October 30, 2013 – IPS Technology Services recently hired Advanced Developer Rajesh Vyda to develop a web-based enterprise client application in .NET and C# platform.

Vyda brings to IPS Technology Services years of experience in web-based and client/server applications. Before IPS Technology Services, Vyda worked as an application developer for large to mid-sized companies in various industries.

“We are pleased to have Rajesh as a part of our growing team at IPS,” says Pradip Sengupta, President and CEO of IPS Technology Services, “He brings experience to our latest project that will prove to be quite valuable in the coming months.”

About IPS Technology Services

IPS Technology Services provides end-to-end IT services to the Small and Medium Businesses (SMB) marketplace. IPS develops custom applications using state of the art tools such as .Net, C#, VB, SaaS, SOA, Oracle, SQL Server, and/or by using third party software. IPS provides IT services in the following six areas:
1. IT Staffing (SharePoint, Oracle, Java, Dot Net, SQL Server, SAP, PM)
2. Technology Consulting
3. Web based and Mobile Application Development and Integration
4. Healthcare IT with EHR and Practice Management implementation
5. Engineering IT services
6. Website development, Digital Marketing, and Social Media

For more information on IPS Technology Services, please call 248-835-9895 or, click www.ipstechnologyservices.com.

October 29: Detroit Police Chief Says Detroit Moving in Right Direction; Canada-U.S. Business Attraction to Host Event

Detroit Chief of Police, James Craig: Detroit Moving in the Right Direction

Detroit’s Chief of Police, James Craig, spoke to an audience of more than 50 attendees at a Chamber event on October 24, providing an overview of the police department and new crime reduction strategies for the city. He discussed the positive change that has already taken place in the police department and the city of Detroit, and the continued efforts being taken for improvement.

Chief Craig referenced the positive energy that can be felt on a daily basis since his hire, as Detroit police officers are passionate about doing their jobs and are satisfied now with an increased sense of stability. Engaging with attendees in a candid Q-and-A session following his opening remarks, Chief Craig described ongoing strategy to bolster police presence and throughout Detroit and his commitment to improving the Detroit Police Department brand. To view photos from the event, click here.

Canada-U.S. Business Attraction Hosting Event to Discuss International Business Issues

The Canada-U.S. Business Association is hosting a signature event, “Canada and U.S. Business in 2014 and Beyond,” from 11:30 a.m. to 1:30 p.m. on Friday, November 15 at the Westin Book Cadillac Hotel in Detroit. The honorable Dr. Roy B. Norton, Consul General of Canada, will lead a moderated discussion on Canadian and United States business interests, joined by John Engler, President, Business Roundtable, and John Manley, President and CEO, Canadian Council of Chief Executives.

The discussion will cover a variety of issues affecting international business such as cross-border international trade, border entry, regulatory coordination and the New International Trade Crossing. For more information and to register, click here.

Chamber Honors Three Leaders at Third Annual Leadership Detroit Awards

The Chamber’s Leadership Detroit program presented its third-annual leadership awards on Thursday, October 24, celebrating and honoring three program alumni and community leaders who have created positive change.

The Inspirational Leadership Award was presented to Barbara McQuade, U.S. Attorney for the Eastern District of Michigan. Reginald Eadie, MD, President, DMC Sinai-Grace Hospital, was given the Emerging Leadership Award. Aubrey W. Lee Sr., Senior Vice President (retired), Bank One, Michigan was named the Lifelong Leadership Award winner.

Leadership Detroit is a community leadership program for executives in Southeast Michigan, designed to create awareness of key issues that affect the Detroit region and to challenge emerging and existing community leaders to bring about positive change in the community through informed leadership. For more information, click here.

Chamber to Connect Businesses with Top Regional and National Purchasers

The Detroit Regional Chamber will continue its Small Business: Unlocked series on Thursday, November 21 as it hosts a Meet the Purchasers event from 8 a.m. to 12 p.m. at Walsh College. The event will allow small businesses to network with purchasers and learn the basics of purchasing and procurement protocol. Attendees will learn how to cut through the red tape and get their businesses on the public sector RFP list.

Confirmed purchaser participants include Blue Cross Blue Shield of Michigan, Comerica, Compuware, Stacy and Witbeck, Wayne County Airport Authority, Oakland University and SMART. To register, please click here.

House Takes Final Step To Unblock Funding For Common Core

The Common Core State Standards officially can now receive state funding to continue implementation after the House approved the Senate’s changes to a concurrent resolution today.

The House, on a voice vote, concurred in the Senate’s changes to HCR 11 after originally adopting it last month. The new fiscal year began October 1 and the state’s schools have been unable to use state funding to continue the implementation of the standards because of a line in this year’s budget prohibiting the use state funding without legislative action first.

The Department of Education actually resumed implementation last week after the Senate’s Thursday vote and did not wait for the House to provide final approval.

Gongwer News, October 29, 2013

Brooks Kushman Shareholder John LeRoy to Discuss Open Source License Compliance at ARM TechCon

SOUTHFIELD, Mich. – Addressing the growing use of open source software (OSS) in consumer products, Brooks Kushman P.C. shareholder John LeRoy will speak at the 2013 ARM TechCon, a three-day conference for hardware and software engineers involved in ARM architecture used in most consumer electronics in Santa Clara, Calif. on Thursday, Oct. 31.

“While the use of OSS provides tremendous benefits in terms of saving time and reducing cost, the license fine print presents obligations to those who use and distribute products based on the OSS,” LeRoy said. “Open source license compliance is an issue that affects many industry segments and can be complicated, but with an accurate understanding of the particular OSS in your product, and the applicable license requirements, it’s manageable.”

During his presentation, titled “Open Source: Its Free* (*Terms and Conditions Apply),” LeRoy will address the growing use of OSS and potential legal issues. The presentation will provide insight on understanding and successfully complying with the legal obligations of using OSS that apply to the developer and the end-users. LeRoy will also discuss the option of running digital software audits – a service available to companies that wish to have a better understanding of the particular open source code that may be incorporated in their product.

To facilitate the collaboration between the hardware and software communities, this year’s ARM TechCon will focus on the theme “Where Intelligence Connects.” ARM TechCon delivers an
at-the-forefront comprehensive forum created to ignite the development and optimization of future ARM-based embedded products. Providing insight from industry-leading companies and innovative start-ups, ARM TechCon is a comprehensive learning environment for the entire embedded community, uniting the software and hardware communities. For more information on ARM TechCon, please visit http://www.armtechcon.com/.

About Brooks Kushman:

Established in 1983, Brooks Kushman P.C. is a nationally ranked intellectual property (IP) and technology focused law firm with offices in Michigan and California. The firm has more than 70 lawyers and agents specializing in various disciplines. Brooks Kushman has a reputation for providing leading IP strategy and counseling with a focus on the business objectives of its clients and represents clients across many industries with respect to protection, enforcement and monetization of IP, including patents, trademarks, copyright and trade secrets.

Brooks Kushman counts a number of Fortune 100 companies across a variety of industries among its clients. The firm is recognized by a number of leading legal publications and resources, including Corporate Counsel magazine, U.S. News & World Report, IP Law & Business magazine and the Law360 organization. For more information, please visit www.brookskushman.com.

MAGMA Showcases Future Trends in Green Mobility

A “who’s who” of green mobility visionaries and champions, including those from the Big Three, will meet to discuss how the Michigan automotive industry is leading the way in technological advances and training as the Michigan Academy for Green Mobility Alliance (MAGMA) hosts: “Future Trends in Green Mobility”, Friday, November 8, 2013, 8:00 a.m. – 1:00 p.m. at Macomb Community College – South Campus, K-Building – Room #324, 14500 E. 12 Mile Road, Warren, MI 48088.

A partnership of automotive manufacturing companies, educational institutions and workforce development agencies, MAGMA’s mission is to ensure the automotive industry has the engineering and technical talent needed to support hybrid, electric, lightweight, alternative fuel and additional advanced vehicle technologies, including through the alignment of educational curricula and real world applications in the field. The “Future Trends” forum will cover the following:


WELCOME AND INTRODUCTION                      8:30 – 8:40
Lisa Katz, Executive Director, Workforce Intelligence Network

8:40 – 9:20
Dr. Jay Baron, President & CEO, Center for Automotive Research

Part I: OEM perspectives on green mobility trends
* Randall Champagne, Hybrid Engineering Project Manager, General Motors Corporation
* Tony Tisler, Electrified Powertrain Program Manager – Software and Controls, Chrysler Group
* MavaMarie Vandervennet, Technical Training Manager, Ford Motor Company
Part II: Other frontiers in green mobility
* Philip Dingle, US Research & Advanced Projects Manager, Delphi Diesel Systems
* AT&T on green mobility fleet integration
* Daryl Patrishkoff, Chief Engineer, Performance CNG and CEO, The Center for Professional Studies

* Bob Feldmaier, Director, Center for Advanced Automotive Technology, Macomb Community College
* Kevin Perry, Global Manager, Professional Development, SAE International
* Dr. Jeff Naber, Professor, ME-EM Department, Director, Advanced Power Systems Research Center, Michigan Technological University
* Gene Liao, Director, Electric Transportation Technology Program Professor
Engineering Technology Div., Wayne State University

Lisa Katz, Workforce Intelligence Network

NETWORKING, LUNCH 12:00 – 12:15

* 2014 Ford Focus BEV (Battery Electric Vehicle)
* 2013 Mustang GT Street Legal Muscle Car
* 2014 Chevrolet Spark EV
* 2013 Fiat 500e

“In a world of CAFE standards and environmental responsibility, green mobility – including the creation, adoption and integration of new technologies” – is of paramount importance,” said Lisa Katz, Executive Director of the Workforce Intelligence Network for Southeast Michigan (WIN). “From lightweighting for greater fuel economy and safety to alternative energy storage, Michigan companies are navigating changes and pioneering new approaches. That means jobs but also the need for workers to be trained and ready in the latest technologies and processes.”

Registration information at:

The Michigan Academy for Green Mobility Alliance (MAGMA) is convened by the Workforce Intelligence Network for Southeast Michigan (WIN), a partnership of 7 Michigan Works! Agencies and 9 community colleges.

Brian Kirksey Elected Chair of Board of Real Estate Appraisers

SOUTHFIELD, Mich., Oct. 29, 2013 – Brian Kirksey, a real estate appraisal practice leader at Plante Moran, has been elected board chair for the State of Michigan Board of Real Estate Appraisers.

Kirksey, who practices in the firm’s forensic and valuation services group, will serve a one-year term as chair. He was originally appointed as a board member in 2010 by former Governor Jennifer Granholm and has served as vice chair since 2012.

The board was created to license and regulate the services of real estate appraisers in Michigan and works with the Michigan Department of Licensing and Regulatory Affairs to oversee the practice of more than 6,000 limited real estate appraisers, state licensed appraisers, certified general appraisers and certified residential appraisers.

Kirksey joined Plante Moran in 2011 and focuses on many different aspects of real estate appraisal, consulting and sales throughout the United States and internationally. He advises a diverse clientele in easement rights and many types of real property including residential, commercial and industrial, senior care facilities, historic buildings, hospitality and resorts and vacant land.

Kirksey holds a bachelor’s degree in economics from Oakland University.

Plante Moran is among the nation’s largest accounting, tax and consulting firms and provides a full line of services to organizations in the following industries: manufacturing and distribution, financial institutions, service, health care, private equity, public sector and real estate and construction. Plante Moran has a staff of more than 2,000 professionals in 21 offices throughout Michigan, Ohio, and Illinois with international offices in Shanghai, China; Monterrey, Mexico; and Mumbai, India. Plante Moran has been recognized by a number of organizations, including FORTUNE magazine, as one of the country’s best places to work. For more information, visit plantemoran.com.

Michigan’s largest woman-owned management side labor and employment law firm renamed Nemeth Law, P.C.

Detroit, Michigan – October 28, 2013 –Nemeth Law, P.C. is the new name of the management side labor and employment law firm formerly known as Nemeth Burwell, P.C. The name change was announced by Nemeth Law, P.C. President, Patricia Nemeth, who originally founded the firm in 1992 as the law offices of Patricia Nemeth.

Detroit-based Nemeth Law specializes in employment litigation, traditional labor law and management consultation for private and public sector employers. With 30 staff members, including 13 attorneys, the firm is the largest woman-owned law firm in Michigan to exclusively represent management in the prevention, resolution and litigation of labor and employment disputes.

About Nemeth Law, P.C.: Nemeth Law specializes in employment litigation, traditional labor law and management consultation for private and public sector employers. It is the largest woman-owned law firm in Michigan to exclusively represent management in the prevention, resolution and litigation of labor and employment disputes.