Business http://michiganradio.org en Fmr. U.S. Treasury Secretary Henry Paulson wants more foreign investment in the Great Lakes region http://michiganradio.org/post/fmr-us-treasury-secretary-henry-paulson-wants-more-foreign-investment-great-lakes-region <p>The nation’s former Treasury Secretary has an idea about how to bring more foreign investment to the Great Lakes region. He’s coming to Detroit today to pitch it to the city’s business leaders.</p><p></p><p>Henry Paulson sees the Great Lakes region as a place presenting a lot of opportunities for emerging markets, like China, to invest.</p><p></p><p>Paulson was President George W. Bush’s Treasury Secretary during the 2008 financial crisis. He championed the $700 billion bailout of the nation’s banks. Before that, Paulson headed the investment firm of Goldman Sachs.</p><p></p> Mon, 21 Jul 2014 09:21:00 +0000 Steve Carmody 18436 at http://michiganradio.org Fmr. U.S. Treasury Secretary Henry Paulson wants more foreign investment in the Great Lakes region Plan to transform downtown Detroit released http://michiganradio.org/post/plan-transform-downtown-detroit-released <p>Downtown Detroit could undergo a major transformation under <a href="http://districtdetroit.com/">a development plan</a> unveiled today.</p><p></p><p></p><p>The organization that owns the Detroit Red Wings says it wants to transform the northern part of downtown Detroit into a sports/entertainment/retail and residential destination.</p><p></p> Sun, 20 Jul 2014 18:50:53 +0000 Steve Carmody 18445 at http://michiganradio.org Plan to transform downtown Detroit released Historic government building in downtown Detroit to be sold to New York buyer http://michiganradio.org/post/historic-government-building-downtown-detroit-be-sold-new-york-buyer <p>I know what you’re thinking.</p><p>This building that once housed Wayne County’s administrative office is perhaps "one of the nation’s finest surviving examples of Roman Baroque Revival architecture, with a blend of&nbsp;Beaux-Arts&nbsp;and some elements of the&nbsp;Neoclassical&nbsp;style."</p><p>I was thinking the exact same thing.</p><p>Well, I was really thinking it’s a beautiful building in downtown Detroit and I hope it gets some attention.</p> Fri, 18 Jul 2014 14:16:30 +0000 Mark Brush 18430 at http://michiganradio.org Historic government building in downtown Detroit to be sold to New York buyer DTE, Consumers should spend excess surcharges on solar, say solar proponents http://michiganradio.org/post/dte-consumers-should-spend-excess-surcharges-solar-say-solar-proponents <p>Michigan's two largest utilities, Consumers Energy and DTE Energy, have about $26 million in renewable energy surcharges in the kitty, after both companies overestimated how much their renewable energy projects would cost.</p><p>Now, a solar work group convened by the Michigan Public Service Commission recommends, rather than returning it to taxpayers, the companies should invest the money in new solar projects.</p><p>Only about 1/4 of 1% of Michigan's energy comes from solar.</p> Tue, 15 Jul 2014 21:19:51 +0000 Tracy Samilton 18387 at http://michiganradio.org DTE, Consumers should spend excess surcharges on solar, say solar proponents Former Ford CEO Alan Mulally appointed to Google Board of Directors http://michiganradio.org/post/former-ford-ceo-alan-mulally-appointed-google-board-directors <p>Alan Mulally has at least one part-time job now, after leaving Ford Motor Company in late June.</p><p>Mulally was the Dearborn automaker's CEO from September, 2006 until June 30, 2014.</p><p>Mulally was appointed to serve on Google's Board of Directors on July 9.&nbsp;</p><p>The <a href="http://googlepress.blogspot.com/2014/07/google-appoints-alan-mulally-to-its.html">announcement</a> was made on July 15.</p> Tue, 15 Jul 2014 20:50:04 +0000 Tracy Samilton 18386 at http://michiganradio.org Former Ford CEO Alan Mulally appointed to Google Board of Directors Whirlpool looks to acquire controlling stake in Italian appliance maker for $1 billion http://michiganradio.org/post/whirlpool-looks-acquire-controlling-stake-italian-appliance-maker-1-billion <p>Michigan-based Whirlpool has entered into an agreement to buy a controlling stake in an Italian appliance maker.</p><p>Whirlpool is expected to spend $1 billion to purchase more than two-thirds of the voting stock of Indesit,<a href="http://www.marketwatch.com/story/whirlpool-enters-into-agreements-to-acquire-majority-interest-in-indesit-2014-07-10"> the company announced last night.</a> The Italian based company employs 16,000 people. It sells appliances mostly in Western Europe under the name brands of Indesit, Hotpoint and Scholtès.</p> Fri, 11 Jul 2014 14:28:50 +0000 Lindsey Smith 18344 at http://michiganradio.org Whirlpool looks to acquire controlling stake in Italian appliance maker for $1 billion The rise and fall of Michigan's Stroh family http://michiganradio.org/post/rise-and-fall-michigans-stroh-family <p></p><p>Many of us are more than a little curious about the lives of the rich and famous.&nbsp;</p><p>In the mid-1800s, Bernard Stroh came to the U.S. and began selling beer in Detroit.</p><p>The business grew and prospered, but around 150 years later, the family company was bought and broken up.</p><p>Kerry A. Dolan of <em>Forbes</em> chronicles the rise and fall of the family in her piece, <em><a href="http://www.forbes.com/sites/kerryadolan/2014/07/08/how-the-stroh-family-lost-the-largest-private-beer-fortune-in-the-u-s/">How to blow $9 billion: The fallen Stroh family</a></em>.</p><p>From Dolan's story:</p><blockquote><p>The Stroh family owned it all, a fortune that FORBES then calculated was worth at least $700 million. Just by matching the S&amp;P 500, the family would currently be worth about $9 billion.</p><p>Yet today the Strohs, as a family business or even a collective financial entity, have ceased to exist. The company has been sold for parts. The trust funds have doled out their last pennies to shareholders. While there was enough cash flowing for enough years that the fifth generation Strohs still seem pretty comfortable, the family looks destined to go shirtsleeves-to-shirtsleeves in six.</p></blockquote><p>Frances Stroh, a fifth generation family member, is working on a memoir about the family.</p><p><em>h/t Lester Graham</em></p><p> Wed, 09 Jul 2014 18:13:15 +0000 Mark Brush 18314 at http://michiganradio.org The rise and fall of Michigan's Stroh family Proposed food truck rules go back to Ohio mayor http://michiganradio.org/post/proposed-food-truck-rules-go-back-ohio-mayor <div>TOLEDO, Ohio (AP) - Proposed regulations for food trucks in a northwestern Ohio city have gone back to the mayor for more discussion after opposition from supporters of the mobile businesses.</div><div>&nbsp;</div><div></div><div><a href="http://www.toledoblade.com/Politics/2014/07/02/Council-avoids-vote-on-food-trucks.html#KKD8Lv869TfYQe52.99." style="line-height: 1.5;">The Blade newspaper in Toledo&nbsp;reports </a><span style="line-height: 1.5;">that Toledo City Council declined to vote on Mayor Michael Collins' proposals last week. Sun, 06 Jul 2014 21:52:31 +0000 Associated Press 18271 at http://michiganradio.org Proposed food truck rules go back to Ohio mayor Fireworks business booming in Michigan http://michiganradio.org/post/fireworks-business-booming-michigan <p>Business is looking up for people selling fireworks in Michigan.</p><p></p><p>Since <a href="http://www.michigan.gov/lara/0,4601,7-154-35299_42271_59975---,00.html">state lawmakers expanded the kinds of fireworks that can be sold in Michigan</a>, fireworks are a growing business in the state.</p><p>Bill Weimer is a vice president with Phantom, one of the nation’s largest fireworks retailers. He says Michigan is a ‘developing’ market since the state loosened the rules on ‘consumer” fireworks starting in 2012.</p> Fri, 04 Jul 2014 15:22:28 +0000 Steve Carmody 18253 at http://michiganradio.org Fireworks business booming in Michigan Food trucks will soon roll into downtown Battle Creek http://michiganradio.org/post/food-trucks-will-soon-roll-downtown-battle-creek <p><span style="line-height: 1.5;">Battle Creek is the latest Michigan city to welcome food trucks to its downtown.</span></p><p></p><p>The city commission voted last night to lift a longtime ban on food trucks. &nbsp;Starting later this month, the city will start handing out permits to up to seven food truck vendors to set up shop in a specific zone in downtown Battle Creek. &nbsp;</p><p></p><p>Supporters say food trucks will add much-needed vitality and variety to Battle Creek’s downtown.</p><p></p> Wed, 02 Jul 2014 09:00:00 +0000 Steve Carmody 18233 at http://michiganradio.org Food trucks will soon roll into downtown Battle Creek Another proposed development, another controversy in Saugatuck duneland http://michiganradio.org/post/another-proposed-development-another-controversy-saugatuck-duneland <p>Another proposed development in the coastal sand dunes along Lake Michigan is causing some controversy in Saugatuck. Opponents will ask state officials to reject a permit request at a hearing tonight.</p><p>They’d like to scale back a project that’ll turn a nearly century-old church campground into a private development for 12 beachfront homes.</p><p>Dave Barker is one of the developers. He says the homes would sit only on a small portion of the property, which includes 130 acres of duneland along Lake Michigan.</p> Mon, 30 Jun 2014 10:00:00 +0000 Lindsey Smith 18192 at http://michiganradio.org Another proposed development, another controversy in Saugatuck duneland Businessman Dan Gilbert's real estate arm buys newspaper building http://michiganradio.org/post/businessman-dan-gilberts-real-estate-arm-buys-newspaper-building <p>DETROIT (AP) - Businessman Dan Gilbert's real estate arm says it's bought the home of The Detroit News and the Detroit Free Press.</p> Fri, 27 Jun 2014 23:56:04 +0000 The Associated Press 18196 at http://michiganradio.org Businessman Dan Gilbert's real estate arm buys newspaper building Michigan bars score with World Cup http://michiganradio.org/post/michigan-bars-score-world-cup <p></p><p><span style="line-height: 1.5;">Team USA lost to Germany today at&nbsp;</span><a href="http://www.fifa.com/" style="line-height: 1.5;">the World Cup</a><span style="line-height: 1.5;">&nbsp;in Brazil. &nbsp;</span></p><p></p><p><span style="line-height: 1.5;">But Michigan sports bars are counting themselves as winners.</span></p><p></p><p>Since the global soccer tournament began, sports bars have been very busy.&nbsp; &nbsp;</p><p></p><p>Business at Peppinos in East Lansing usually slows in June as the college crowd thins. But not this year.</p><p></p> Thu, 26 Jun 2014 23:21:22 +0000 Steve Carmody 18175 at http://michiganradio.org Michigan bars score with World Cup Another city considers leaving Detroit water system http://michiganradio.org/post/another-city-considers-leaving-detroit-water-system <p>Another city that gets its water from Detroit is talking about pulling out of the system. &nbsp;<br /><br />Greg Theokus&nbsp; is Mayor Pro Tem of Grosse Pointe Park.<br /><br />He says Detroit's water is already too expensive.<br /><br />Grosse Pointe Park pays $1.5 million now for its water. That's up from $600,000 ten years ago.<br /><br />Theokus says Grosse Pointe Park may have no choice, if Detroit water rates skyrocket due to the bankruptcy.<br /> Tue, 24 Jun 2014 21:03:50 +0000 Tracy Samilton 18135 at http://michiganradio.org Another city considers leaving Detroit water system Michigan's long, slow climb from home foreclosure crisis continues http://michiganradio.org/post/michigans-long-slow-climb-home-foreclosure-crisis-continues <p>Michigan’s home foreclosure crisis of a few years ago can still be felt by the state’s real estate industry.</p><p></p><p>In February, 2011, 35.3% of the homes sold in Michigan were distressed homes: formerly foreclosed on or being sold short for a loss.</p><p>In May of this year, 18.6% of home sales involved distressed homes.</p><p><a href="http://www.realtytrac.com/statsandtrends">Realty Trac reports </a>Michigan home prices continue to improve, claiming the median sale price for a Michigan home last month was $100,000, that’s up 18% in the past year.</p> Tue, 24 Jun 2014 09:12:00 +0000 Steve Carmody 18112 at http://michiganradio.org Michigan's long, slow climb from home foreclosure crisis continues Auction of items at Silverdome nets $500,000 http://michiganradio.org/post/auction-items-silverdome-nets-500000 <p>PONTIAC, Mich. (AP) - An auction featuring more than 3,000 leftover items in the Pontiac Silverdome has fetched about $500,000.</p> Mon, 23 Jun 2014 02:26:00 +0000 The Associated Press 18102 at http://michiganradio.org Auction of items at Silverdome nets $500,000 How can commercial drones boost the economy? http://michiganradio.org/post/how-can-commercial-drones-boost-economy <p></p><p>The word “drone” holds some negative connotations. However, some believe that commercial drones could help boost the economy. Aaron Cook, director of aviation at Northwestern Michigan College, is one of those people. He joined us today on Stateside.</p><p>Cook says when people understand what drones are, what they are not, and what they can do, they will realize the many business opportunities and safety opportunities these drones can provide. They could possibly improve the quality of life and increase productivity.</p><p>So what is a drone?</p><p>It’s basically a flying robot. It is an aircraft that does not need a human on board, but is controlled by people on the ground using GPS communication technology.</p><p>Cook emphasized that drones are not armed, specifically ones flying over U.S. soil, and are not intended to be used to invade citizens' privacy.</p><p>They are only meant for commercial use. BP was just approved by the Federal Aviation Administration to use drones in Alaska to monitor pipelines, roads, and equipment. Cook said drones can be used for similar options here in Michigan.</p><p> Thu, 19 Jun 2014 21:34:19 +0000 Stateside Staff 18072 at http://michiganradio.org How can commercial drones boost the economy? Is there room in downtown Battle Creek for food trucks? http://michiganradio.org/post/there-room-downtown-battle-creek-food-trucks <p>A drive to allow food trucks in downtown Battle Creek is running into stiff opposition from downtown business owners.</p><p></p><p>The proposal calls for allowing up to seven food trucks into the downtown business district.</p><p></p><p>Supporters say food trucks would add vitality to downtown.</p><p></p><p>But business owners say there are already too many empty storefronts downtown.</p><p></p><p>“Just common sense tells me that our first priority should be to fill those store fronts,” says businesswoman Marianne Angelo.</p><p></p> Sat, 07 Jun 2014 19:44:00 +0000 Steve Carmody 17897 at http://michiganradio.org Is there room in downtown Battle Creek for food trucks? BWL looks to solar energy http://michiganradio.org/post/bwl-looks-solar-energy <p>The Lansing Board of Water and Light wants to build Michigan’s largest solar power facility.</p><p></p><p>BWL officials say they want to contract with companies or organizations to build a solar power facility to generate up to five megawatts of electricity. Altogether the project could potentially be five times bigger than the next largest solar array in the state.</p><p></p><p>BWL’s proposal is a little vague on specifics, including where a facility would be located.</p><p></p><p>A utility spokesman says the project could provide enough electricity to power 2500 homes.</p><p></p> Fri, 06 Jun 2014 18:43:48 +0000 Steve Carmody 17895 at http://michiganradio.org BWL looks to solar energy Ohio paper considers layoffs, closing facility http://michiganradio.org/post/ohio-paper-considers-layoffs-closing-facility <p>TOLEDO, Ohio - <a href="http://www.toledoblade.com/">The Blade</a> newspaper in Toledo says it's considering shutting down its printing and mailing facilities and laying off about 130 workers.</p><p>Block Communications Inc. notified city officials in a letter released Friday that it plans to begin the job cuts in August.</p> Sat, 31 May 2014 17:33:00 +0000 The Associated Press 17818 at http://michiganradio.org Ohio paper considers layoffs, closing facility