economy

State Budget
1:26 pm
Wed September 8, 2010

State budget... What?! No government shutdown?!

The chamber of Michigan's House of Representatives in Lansing. Leaders in the Michigan legislature and Governor Granholm are close to an agreement on the budget.
Lester Graham Michigan Radio

The Great Recession has meant tough times for state governments. Michigan has been hit extra hard and leaders in the state have been fighting over a shrinking budget for several years.  These budget battles have led to brief government shutdowns in years past. But with the new fiscal year starting October 1st, leaders in the state seem to have resolved their differences.

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CEO Compensation
1:01 pm
Fri September 3, 2010

Report says CEOs cashing in on layoffs

Cover of the report by IPS "Executive Excess 2010: CEO Pay and the Great Recession"
IPS

A report from the Institute for Policy Studies looked at CEO compensation from the 50 companies that layed off more workers during the recession. They found the CEOs at these companies are paid more, on average, than the average pay for the CEOs running to top 500 companies in the U.S. (S&P 500).

Sarah Anderson is the lead author of the report.  She says,

"CEOs are squeezing workers to boost short-term profits and fatten their own paychecks."  

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10:19 am
Fri September 3, 2010

Labor Day report shows trials of long-term unemployed

Workers haven't been seeing many help wanted signs in Michigan
kandyjaxx/creative commons

The unemployment picture in Michigan is still bad. It stands at 13.1% now. The worst it's been since the early 1980's.

Now, a new report by the Michigan League for Human Services puts the long-term unemployment picture into perspective.  In 2000, people unemployed for more than 26 weeks, accounted for 6.5% of the total number of unemployed. Today, the long-term unemployed account for 40.8% of the unemployed.

The report says,

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Memories
2:33 pm
Wed September 1, 2010

Michigan State Fair is gone but not forgotten

An actress at the Michigan State Fair solicits people to come see a children's play (2006)
Bob Vigiletti Michigan Radio Picture Project

There's a new post on Michigan Radio's Picture Project site.  Bob Vigiletti has eighteen beautiful shots taken in the waning years of the Michigan State Fair.  The fair, proclaimed to be the country's oldest, was closed because of declining attendance and revenues in 2009. Vigiletti writes:

It is only through out thoughts and photographs that we preserve and cherish memories of the past.

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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.

Politics
3:32 pm
Sun June 1, 2008

Lake Michigan golf course plan stirs controversy

Five years ago riots in Benton Harbor, Michigan drew national attention to racial issues and poverty there.

Today an arm of the Whirlpool Corporation wants to build a golf resort in the struggling city.

The location has some city residents less than pleased.

Benton Harbor is the poorest city in Michigan.

Unemployment is officially at 17% and the median household income is in the teens.

Vacant lots and boarded up buildings litter the downtown. But there is natural beauty in Benton Harbor.

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