Economy

Economy
1:18 pm
Tue August 28, 2012

GM will take Volt plant off-line for second time in 2012

The redesigned 2014 Impala
User IFCAR Wikimedia Commons

In mid-September, General Motors will temporarily close the Detroit-Hamtramck plant that makes the Chevrolet Volt for about a month.

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Economy
1:01 am
Tue August 28, 2012

A taste of home for Michiganders at the Republican National Convention

A taste of home in St. Petersburg, Florida
Steve Carmody/Michigan Radio

Michigan delegates to the Republican National Convention can find a lot to eat in Tampa.

But at least one business, not too far from the convention center, hopes those delegates will also want a small taste of home.

Tampa is hardly short of great uniquely Floridian food choices, from Cuban sandwiches in Ybor City to beachside shacks where you can eat a variety of fish that were swimming in the Gulf of Mexico a few hours before.

But sometimes you just want a coney.

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Economy
7:17 pm
Wed August 22, 2012

As electric bills rise, critics call for more competition

Customers bear costs from green energy projects
imma http://www.morguefile.com/archive/display/219775

Maybe you've seen a note on your electric bill, saying some of your payment goes towards green energy initiatives. It's to help explain - and, just maybe, stave off frustration about - double-digit increases in the last few years.  

But green energy aside, all these rising rates have some out-of-state electric companies seeing a business opportunity. They’ve joined with several Michigan businesses to form the group Energy Choice Now, which put out a new study out this week.

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Economy
12:01 pm
Tue August 21, 2012

More people making auto payments on time, Michigan leads the way

user hotblack MorgueFile.com

A credit reporting agency says the rate of overdue auto loans is at the lowest rate in more than ten years.

TransUnion says the rate of U.S. auto loan payments at least 60 days overdue fell in the second quarter to 0.33 percent. That's down about 25 percent from the same period last year and 8 percent from the first three months of this year.

Michigan is well below the national average, with 0.21 percent of borrowers delinquent on their car loans.

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Economy
5:03 pm
Mon August 20, 2012

Help wanted: Michigan agriculture can't fill jobs

The pay is good and the industry's booming - but workers are tough to find
danielito http://www.morguefile.com/archive/display/170485

It seems like agriculture in Michigan just can't catch a break. First the drought, now a growing labor shortage.

The industry is desperately seeking highly skilled workers with 4 year degrees. Think supply chain managers or grain market analysts. But these days, not enough college students are going into agriculture. 

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Economy
12:24 pm
Fri August 17, 2012

Voters in Grand Rapids suburb could withdraw from regional bus system

The Rapid Central Station
Lindsey Smith Michigan Radio

Voters in a Grand Rapids suburb will decide in November whether the city should withdraw from the regional bus system.

This week the City of Walker certified petition signatures collected by the Kent County Taxpayers Alliance.

Ben Reisterer lives in Walker and is with the alliance.

"We’re not against busing at all. We think it’s a good thing for the community. But we don’t necessarily agree with the way they are going about providing that service," Reisterer said.

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Economy
7:20 pm
Wed August 15, 2012

Michigan jobless rate up 0.4 points to 9 percent

Unemployment rate, labor force over time
Michigan Radio

LANSING, Mich. (AP) - Michigan's unemployment rate is on the rise, jumping 0.4 percentage points to 9 percent in the latest figures from the state.

The seasonally adjusted unemployment rate for July that was released Wednesday remains 1.6 percentage points below July 2011's rate of 10.6 percent. The national rate has fallen 0.8 percentage points in that time.

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Economy
5:54 pm
Mon August 6, 2012

Teamsters’ union workers strike at Grand Rapids Gravel for third week

About a dozen workers strike at one Grand Rapids Gravel Plant Number 4 in Grandville. It's one of seven locations the workers say they're picketing at.
Lindsey Smith Michigan Radio

More than 60 union workers at Grand Rapids Gravel Company are beginning their third week on strike over a proposed wage cut. Now the private company has security to protect replacement workers and equipment.

About a dozen union workers glare at a replacement worker hauling a load of gravel out of the pits they usually work in. One security guard video tapes us talking as the hauler leaves the pits.

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Economy
3:46 pm
Fri August 3, 2012

Michigan unemployment agency's computer, phone systems get $69M upgrade

ppdigital MorgueFile.com

Michigan’s Unemployment Insurance Agency is undergoing a $69 million computer and phone system upgrade, reports MLive. The agency says the upgrade will cause interruptions in service.

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Economy
4:07 pm
Thu August 2, 2012

Business is brisk at local tax foreclosure auction in Michigan

What's your bid? Hundreds of people turned out for the auction of hundreds of Jackson County properties. The county is selling the properties to recover unpaid taxes.
Steve Carmody/Michigan Radio

There may be some good economic news in a place that's usually just about bad news: county tax foreclosure auctions.

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Economy
11:35 am
Thu August 2, 2012

Enbridge pipeline break in Wisconsin partly blamed for spike in Michigan gasoline prices

Gas pains
Steve Carmody/Michigan Radio

Gasoline prices in parts of Michigan are soaring over $4 a gallon.

The recent leak that shutdown an oil pipeline in Wisconsin is getting much of the blame. The Enbridge Energy pipeline has been shut down since it sprung a leak last week.

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Economy
3:21 pm
Tue July 31, 2012

Finding ways to revitalize old auto plant sites in Flint, Lansing on the agenda for tomorrow

A cyclist rides on what had been the site of an auto plant in Lansing Township
Steve Carmody/Michigan Radio

Officials from Lansing and Flint are hoping a conference this week will help convince investors to redevelop some former General Motors auto plant sites.

Local leaders will meet with federal and state officials in Lansing Wednesday to discuss how to revitalize former auto plant sites in their cities. The group is going on a bus tour of the sites in Lansing this afternoon.

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Economy
6:23 pm
Thu July 26, 2012

Governor Snyder planning another trade mission to Asia

Governor Rick Snyder said this afternoon his office is planning a trade mission to Asia. 

Governor Snyder went on an 8-day trip to China, South Korea and Japan last fall. He says two new economic investments – one in Ann Arbor and one in Saginaw – are a direct result of that trip. Now he’s planning to go back to Asia to strengthen business ties there.

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Economy
6:19 pm
Wed July 25, 2012

For kids in poverty, Michigan ranks among the worst

Michigan is 32nd for child well-being.
http://datacenter.kidscount.org/data/bystate/StateLanding.aspx?state=MI

A new report on child well-being ranks Michigan in the bottom half of all states: 32nd overall, down two spots from last year. 

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Commentary
10:43 am
Wed July 25, 2012

Commentary: The need for newspapers

The conventional wisdom is that newspapers -- dead tree news -- are on their way out. In some places, like Ann Arbor, there is no longer a daily newspaper at all. The publishers of the Detroit News and Detroit Free Press deliver papers only a few days a week.

However, here’s a surprising development. Newspapers across the country gained readers over the most recently audited six month period. Not by leaps and bounds, but still, on average, gained.

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Economy
8:58 am
Wed July 25, 2012

Ford posts lower profits in the 2nd quarter

Steve Carmody/Michigan Radio

DEARBORN, Mich. (AP) - Ford Motor Co. says its net income fell by 57 percent to $1 billion in the second quarter as losses in Europe and Asia mounted.

The company lowered its full-year profit forecast. Ford still expects a strong operating profit, but it will be lower than 2011. Previously the company had expected to make about the same amount.

Economy
2:15 pm
Mon July 23, 2012

Another Gilbert company will likely relocate from Detroit suburb to downtown

Dan Gilbert
Quickenloans.com

Another Dan Gilbert company will probably move into downtown Detroit, bringing 1,500 more employees from the suburbs into the city.

Gilbert's Title Source provides title insurance, property valuations and settlement services.

The Detroit Free Press reports the company scheduled a news conference for Wednesday morning to announce the move to the Gilbert-owned First National Building in Downtown Detroit.

Title Source is moving locations from the Detroit Suburb of Troy. About 500 of the company's employees will move in immediately, with the remaining 1,000 moving in over the next six months, reports the Freep.

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11:34 am
Thu July 19, 2012

Five facts about achieving the American Dream

Lead in text: 
Follow Michigan Radio's Dustin Dwyer into a dark and dingy room in the basement of the Institute for Social Research building, where he uncovers five facts that might surprise you about the American Dream.
Our State of Opportunity team is looking into ways disadvantaged children in Michigan can get ahead, and we're planning on bringing you many personal
Economy
3:20 pm
Wed July 18, 2012

Michigan unemployment rate ticked up for the second month in a row

Mark Brush Michigan Radio

Unemployment in Michigan rose one-tenth of a percentage point in June to 8.6 percent, when seasonally adjusted.

The Michigan Department of Technology, Management & Budget (DTMB) issued a press release today that said the state's labor force, for the first month this year, did not increase, and the number of unemployed people grew by 7,000.

The good news is that this year's unemployment rate is 2 percent lower than last year's June rate, and four tenths of a percent lower than the rate at the beginning of this year.

From the press release:

“The state labor market displayed little change in June, and has been relatively stable through the first half of 2012,” said Rick Waclawek, director of the Bureau of Labor Market Information and Strategic Initiatives.  “Job gains in Michigan were modest during the second quarter, which was similar to national trends.”

Check out the graph above showing DTMB's data on the labor force and the unemployment rate over the past decade.

-Elaine Ezekiel, Michigan Radio Newsroom

1:23 pm
Mon July 16, 2012

Infographic: Auto cities and where they stand

Lead in text: 
Check out this infographic that shows how the top auto-producing cities around the world stack up against Detroit and Flint.
  • Source: Freep
  • | Via: Elaine Ezekiel
A look at the world's vehicle production sites.

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