As inflation starts to moderate, used car prices are falling faster than most consumer prices. Yet high interest rates, still-limited supply and other factors mean they’re unlikely to be considered ‘low’ again for many years.
Paula Gardner
Paula directs the business reporting on Bridge, writing much of it and setting the strategy for how statewide business coverage fits into Bridge’s nonpartisan policy-driven editorial mix. Paula came to Bridge in 2020 after several years at MLive.com, where she covered the state on both business and environmental teams. Prior to that, she was editor of the Ann Arbor News and news director of online startup AnnArbor,com, and also focused on business news as an editor and reporter at Michigan Business Review. Born and raised in metro Detroit, Paula moved to Ann Arbor to attend the University of Michigan, and has lived in the city for 20 years with her husband, who grew up in their neighborhood. Paula also regularly visits East Lansing and Grand Rapids to visit her college-aged children. She can be reached at pgardner@bridgemi.com
Posted inBusiness Watch
Audit: Michigan unemployment agency still struggles with COVID-era claims
The latest review of the state’s dysfunctional unemployment office found that problems with oversight and fraud investigation persist. The agency’s director accused the auditor of rehashing old issues and not giving the agency enough credit for reforms.
Posted inBusiness Watch
Value of Michigan’s largest public companies dropped by over $120B in 2022
The decline among the state’s largest publicly traded companies is steeper than leading market indexes, with some companies — including General Motors and Ford Motor Co. — losing nearly half of their stock value.
Posted inBusiness Watch
Grand Rapids tech firm is paying more to compete for software developers
As the country competes for software developers, West Michigan is pushing even harder. Jeff Williams of Atomic Object offers insight into how the work, recruitment and competition are changing as Michigan communities vie to become tech hubs.
Posted inBusiness Watch
Census: Michigan’s population falls a hair in 2022
Michigan’s population declined by a few thousand, but experts say it should begin to grow again in a few years.
Posted inBusiness Watch
Michigan braces for recession: What to watch, from inflation to home prices
This month’s data on inflation, interest rates and real estate all show how Michigan’s economy may be changing in 2023 as the state adapts to the national trends. Auto sales, though, could soften the blow.
Posted inBusiness Watch
3M to stop making PFAS ‘forever chemical.’ Michigan asks what took so long?
The chemicals have been used in hundreds of household products for decades, even as more studies became public showing their danger to human health and ubiquitous presence in water. Michigan has hundreds of identified sites of PFAS contamination.
Posted inBusiness Watch
New program gives SE Michigan an edge in hot industrial real estate market
A new tool to boost competitiveness for industrial land is under way in southeast Michigan. Communities can get property “verified” for marketing to site selectors, who are rushing to add space to support the EV industry.
Posted inBusiness Watch
Upper Peninsula paper mill may see $1 billion manufacturing investment
The state approved a 15-year tax break on Tuesday for the mill in Escanaba. The Swedish company that owns the facility is considering the site as a ‘cornerstone’ of its U.S. expansion into more lucrative packaging products.
Posted inBusiness Watch
Biz group: Michigan’s ranking falls to 31st in business competitiveness
The state is now in the bottom 40 percent when ranked on factors that feed competitiveness and prosperity, according to Business Leaders for Michigan. The state’s lagging workforce is likely to get worse in the years ahead.