Call it the inflation circle of life. Second-quarter financials show that inflation hammered businesses this spring as they spent more. To try to keep earnings on track, they raised prices.
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
Rising costs make for rough roads for Michigan’s independent truckers
Soaring fuel and equipment costs are forcing some truckers out of the business, adding to supply chain woes.
Posted inBusiness Watch
How Michigan could benefit from Washington’s $76B investment in microchips
The state’s manufacturing heritage will help Michigan increase its role in high-tech semiconductor production, business leaders said, as President Biden will soon sign into law billions of dollars in production incentives.
Posted inBusiness Watch
Judge delays Michigan minimum wage increase until at least February
A judge who ordered the increase and extension of sick leave delayed implementation of his own ruling while the case is under appeal.
Posted inBusiness Watch
Michigan voted to block Airbnb bans but hits roadblock over local control
Regulations outlawing local bans of short-term rentals passed the Michigan House at 2 a.m. last October. Since then, it’s stalled as business groups and lawmakers continue to debate what communities can outlaw.
Posted inBusiness Watch
Remade by pandemic, Traverse City-area wineries offering custom experience
Wineries along the “Traverse Wine Coast” said they had to get creative to withstand the pandemic while making customers feel safe and eager to return. Horses are part of the plan, as are golf cart rides through fields of lavender.
Posted inBusiness Watch
Where Michigan Republican governor candidates stand on jobs and the economy
The five candidates hoping to win the Aug. 2 Republican primary offer broad outlines of an economic policy (tax cuts, fat trimming) but few if any details. So far, the economy isn’t front and center in the race, but that will likely change quickly after the primary.
Posted inBusiness Watch
Rent, frustration rising in Michigan’s mobile home parks
Those living in mobile home parks throughout Michigan are struggling raising rents, and bills that would have provided relief are stalled in the Legislature.
Posted inBusiness Watch
A recession is looming. Michigan business may not be ready.
Michigan started 2022 with fewer jobs, lower adjusted household incomes and a lower job participation rate than before previous recessions, leaving a shakier foundation to withstand an economic downturn.
Posted inBusiness Watch
Dundee lost out on a $2.5B battery plant, but factory town finds lessons
Historic Dundee thought it had a chance to land a Stellantis electric vehicle battery plant. But the automaker chose Kokomo, Ind., instead. Now Dundee and other engine factory towns must consider how to remain viable as EVs production builds.