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a man and a woman wearing a suit and tie: On The Money: Trump fuels and frustrates COVID-19 relief talks | Trump proposes $1.8T coronavirus relief package | Vegas ties helped Trump score $21M windfall in 2016


© Greg Nash
On The Money: Trump fuels and frustrates COVID-19 relief talks | Trump proposes $1.8T coronavirus relief package | Vegas ties helped Trump score $21M windfall in 2016

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THE BIG DEAL-Trump fuels and frustrates COVID-19 relief talks: Washington is waiting for President Trump to make up his mind on coronavirus relief.

In one week, the president has shifted from chief cheerleader for a massive deal to principal pessimist undermining any such agreement – only to reverse course yet again on Friday in urging the top negotiators to “go big” in securing a package he can sign before the elections.

“I would like to see a bigger stimulus package, frankly, than either the Democrats or the Republicans are offering,” he said in a two-hour interview with the conservative radio host Rush Limbaugh.

What’s going on?

  • The stunning 360-degree turn has given rise to new hopes that after weeks of stalled talks the White House and Democrats can unite to pass emergency relief.
  • States, families and businesses are being crushed under the weight of a pandemic that’s already killed more than 210,000 Americans and left millions more unemployed.
  • Yet Trump’s message is not only at odds with statements he made just days ago, but also contradicts those from Senate Republicans and some of his own White House aides.

The Hill’s

Spinal Elements Holdings (SPEL) intends to raise $108 million in an IPO of its common stock, according to an S-1 registration statement.

Carlsbad, California-based Spinal Elements was founded to design spinal medical devices and instruments that utilize less invasive surgical techniques.

Management is headed by co-founder, president and CEO Jason Blain, who has been with the firm since and was previously manager of Product Development at NuVasive (NUVA).

The company’s primary offerings include:

  • Spinal fixation systems
  • Interbody implants
  • Surgical instruments
  • Biologics

Management says its existing portfolio ‘can address approximately 95% of the spine surgery procedures performed worldwide in 2018…’

Spinal Elements has received at least $57 million from investors including Kohlberg Funds.

The company sells its products primarily via ‘a network of over 200 independent distributors and over 400 surgeons across more than 500 hospitals and ambulatory surgery centers.’

Selling, G&A expenses as a percentage of total revenue have increased as revenues have fluctuated, likely due to the Covid-19 pandemic’s effects.

The Selling, G&A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&A spend, swung to negative (0.1x) in the most recent reporting period.

According to a 2019 market research report by iData Research, the global market for minimally invasive spinal surgery is expected to see significant growth through 2025.

The fastest growing market segment in the U.S. and Europe is forecast to be the spine endoscopy market though it represents the smallest market in terms of the number of procedures and unit sales numbers.

Below is a chart showing the relative sizes and historical and forecast growth rate trends for the MIS market:

spinalmkt

The largest market for MIS procedures is expected to be the current baby boomer demographic of individuals over 60 years

GRAND RAPIDS, MI — A Columbus, Ohio-based development company want to demolish a funeral home on Grand Rapids’ Northwest Side and build two, four-story apartment buildings for low- to moderate-income residents.

Craig Patterson, senior vice president of Woda Cooper Companies, said his firm plans to apply for state low-income housing tax credits to finance the two buildings at 585 Stocking Ave. NW and 601 Stocking Ave. NW.

The buildings would contain 58 apartments.

If financing is secured and all necessary approvals for the estimated $16.7 million project are received, Patterson said his company would demolish the Arsulowicz Brothers Mortuary building at 585 Stocking Ave. NW.

Stephen Arsulowicz, of Arsulowicz Brothers Mortuary, could not be reached for comment Tuesday afternoon. In addition to the Stocking location, the company has locations at 937 Michigan Ave. NE and 3535 Remembrance Rd. NW in Walker.

Patterson said the project is important because there is a shortage of affordable housing in Grand Rapids.

The development would provide housing for residents with a range of income levels.

Twenty-one of the units would be considered “permanent supportive housing,” and would be reserved for people experiencing homelessness or individuals with disabilities, Patterson said.

About half the units would be reserved for residents whose income does not exceed 80 percent of Kent County’s area median income. For a one-person household, that translates to an income of up to $44,960, according to the Michigan State Housing Development Authority. It translates to up to $51,360 for a two-person household.

He said the goal of the project is to provide housing to a range of residents, from those who are very low-income to those who are considered part of the “missing middle.”

That group includes residents who make less than the area median income but don’t qualify for housing assistance funds, such

STRONGSVILLE, Ohio — An AutoZone car parts store has been proposed for the northeast corner of Royalton and Prospect roads, in front of a retail strip that includes Discount Drug Mart.

The project would involve demolishing Gill’s Beverage & Deli, the sole tenant in a freestanding building near the corner, and relocating the business next to Drug Mart in the retail strip.

To make it happen, the AutoZone store needs City Council to rezone a vacant 1-acre parcel at the Royalton-Prospect corner and part of a 5-acre parcel, behind the 1-acre lot, that contains Gill’s and the Drug Mart retail strip.

On Sept. 21, City Council referred the rezoning to the Strongsville Planning Commission for a recommendation.

Brent Painter, the city’s economic director, didn’t return emails about whether AutoZone itself or an independent franchisee is proposing the new store.

Also not returning emails was Wesley Berlin, an engineer with Spartan Engineering Solutions LLC in Highland, Mich. Berlin is listed as the agent for the project applicant on the zoning-change petitions, but the applicant isn’t named in the documents.

Council President Matt Schonhut, council’s representative to the Planning Commission, said he didn’t know who proposed the AutoZone and referred the question to Painter.

The 1-acre parcel at the Royalton-Prospect corner is now zoned as a motorist service district, which according to municipal zoning code permits gas stations, auto-repair shops, motels, restaurants, indoor tennis facilities and vehicle dealers.

The applicant, whoever it is, wants the corner lot rezoned into a general business district, which allows offices, retail stores, funeral homes and other types of retail businesses.

According to the Cuyahoga County Fiscal Office, the 1-acre lot once contained a building, but the building was razed in 2010.

The unknown applicant also would like to rezone about .2 acres of the 5-acre parcel