Business

Economy
2:42 pm
Tue January 18, 2011

Michigan manufacturers call for tax cuts

You don't see these being built anymore. A model of an assembly line in the Detroit History Museum.
flickr - user harry_nl

The Michigan Manufacturers Association (MMA) says Michigan is getting it's "butt kicked" when it comes to taxes.

In the Detroit Free Press, the MMA's vice president for government affairs, Mike Johnston, was quoted when talking about personal property taxes on equipment.

From the article:

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Economy
11:33 am
Thu January 6, 2011

Is Borders Group Inc. headed for bankruptcy?

Paying rent is just one of the problems for Borders Group.
flickr - brewbooks

Sales at Borders Book stores have been slipping for several years as more buyers go to places like Amazon.com to find their titles, and as more people move into the digital reader market. Last month, the company reported that its third quarter sales were down 17.6% from the same period a year ago.

So the company is struggling to find a way to pay its bills. One way it's trying to preserve cash is to suspend its payments to publishers.

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Economy
2:46 pm
Fri December 3, 2010

Legislature approves tax credits for Michigan "Aerotropolis"

The runways at Detroit Metro Airport. Willow Run Airport is nearby creating an opportunity for business incubation.
travelpod.com

The current lame-duck Michigan legislature passed a tax incentive package this morning to encourage the development of a Michigan Aerotropolis. 

So what is it? Here's how the Detroit Region Aerotropolis explains the idea:

An Aerotropolis is an emerging type of urban form comprised of aviation-intensive businesses and those businesses that need to be readily connected to their customers. These businesses, and related enterprises, extend outward from a major airport.

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Obit
10:45 am
Mon November 29, 2010

Grand Rapids philanthropist, businessman Peter Cook dies

Peter Cook
gvsu.edu/buildinglegacies Grand Valley State University

Peter Cook was born in Grand Rapids in 1914. He grew up relatively poor, enlisted in the army after graduating high school and worked for less than a dollar an hour on an assembly line. He went to college and studied business and became an accountant. He made his fortune selling imported cars beginning in the 70s.

Business
3:09 pm
Mon November 22, 2010

Grand Rapids bar owner wants to 'monetize' the Titanic

RMS Titanic at the docks
author unknown creative commons

Chris Knape has a piece in the Grand Rapids Press about hedge fund manager and bar owner, Mark Sellers.

Sellers moved back to Grand Rapids around three years ago where he owns the bars Hopcat, Stella’s Lounge and Viceroy.

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General Motors
5:12 pm
Mon November 15, 2010

Background on the GM IPO story

The old GM Headquarters in Detroit.
Historic American Buildings Survey

General Motors (GM) will be in the news a lot this week, so if you sat out the GM story up until this point, here's a quick summary to get you caught up.

Today's General Motors is not your father's General Motors. The old GM went bankrupt. The company couldn't pay its bills (they had some big ones).

But instead of letting the whole company collapse, a court stepped in to reorganize the auto giant (under chapter 11 bankruptcy).

The court split the old GM in two.

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Recession
9:03 am
Fri September 17, 2010

Follow that cute little toxic asset

A not-so-lovable little creature. NPR's Planet Money's toxic asset creature.
NPR's Planet Money

The team at NPR's Planet Money has come up with another way for us to understand the financial crisis. They bought a pet.

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Economy
11:34 am
Thu August 26, 2010

Home sales sign of improvement in Michigan's economy

A home being built in Norfolk, VA
Ryan Steinhour U.S. Navy

(by Rina Miller, Michigan Radio)

Michigan actually fared better in new home sales than other parts of the nation.  Some economists say improvements in the auto industry are helping stabilize Michigan's economy.

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