The state’s outdoor shopping centers won’t have to deal with vacancy for long if big-box stores file for bankruptcy, said Chris Brochert, managing partner at Lormax Stern.
Business Watch
Covering the intersection of business and policy, and informing Michigan employers and workers on the long road back from coronavirus. Our Michigan Economic Dashboard shows key metrics that show how the state is performing.
Posted inBusiness Watch
Minimum wage increase set for February blocked by Michigan court
Minimum wage was expected to jump to $13.03 an hour, but a Thursday court ruling blocks the increase. The Michigan Supreme Court will likely settle the issue.
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Hantz tree farm falls short on solving east side blight
John Hantz acquired cheap swaths of land on the east side with plans for an urban tree farm. Neighbors say the wealthy entrepreneur has fallen short but operates under a special deal not afforded to residents.
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Michigan tries to lure tech workers after layoffs at Google, other giants
Public tech companies in major U.S. cities are shedding tens of thousands of jobs — just as Michigan firms need to fill similar positions. With tech leaders including Amazon, Microsoft and Salesforce retrenching, state business leaders say the time is right to move.
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Shell shocked: Why eggs are so expensive in Michigan and when it will end
The largest outbreak of bird flu in history and inflation are causing egg prices to skyrocket across the country. Even though Michigan poultry farms haven’t experienced many cases of the flu, state residents are feeling it when they go to the grocery store.
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Michigan OKs new, 4-year contract with top economic developer to boost jobs
Quentin Messer Jr. will remain president and CEO of the Michigan Economic Development Corporation. The deal was approved Tuesday.
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District Detroit developers want half of cost covered by public financing
Developers behind a slate of projects totaling $1.5 billion are looking for $797 million in public funding to get it done.
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Used car prices are falling, but ‘seller’s market’ likely to last for years
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.
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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.
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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.