Michigan home- and business owners have lost an astounding $180 billion from the value of their properties over the past four years — the result of auto company bankruptcies, a severe national recession and the worst state economy in more than 70 years — according to an analysis of state data by Bridge Magazine. Adjusted […]
The Big Flush: $180 billion vanishes from Michigan
Posted inBusiness Watch
Nest eggs go bad in Oakland County
When Sven Gustafson and his wife Kristen bought a home in the Oakland County community of Ferndale in 2005, it looked like a smart move. Property values had been rising steadily. Ferndale, which borders Detroit along Eight Mile Road, was becoming a haven for young professionals, artists and gay Michiganians — the “creative class” described […]
Posted inTalent & Education
Affirmative action ban exacted price on economy, say critics
Five years after Michigan voted to ban affirmative action by public entities, anecdotes, experts and a handful of hard numbers suggest Michigan’s economy has absorbed hits due to the measure. Proposal 2 — a 2006 initiative which banned race- and gender-based preferential treatment in public contracting, public hiring and university admissions — is back in […]
Posted inTalent & Education
Obama's job advisers note skill mismatch
President Obama has a new report from his Council on Jobs and Competitiveness. (Alert, it’s a 4MB report). Initiative Five in the report will be familiar to Bridge readers: Matching talent to the skills needed in the marketplace. “While the United States has traditionally enjoyed a competitive advantage thanks to the productivity of its overall […]
Posted inPhil's Column
It's time to invest in Michigan Inc.
The dwindling Lansing press corps experienced a brief tremble of excitement last week when Gov. Rick Snyder indicated he might not run for re-election if he completes his agenda in four years. “Report: Snyder may not seek re-election if agenda complete,” headlined the Detroit News, quoting the Michigan Information and Research Service, (MIRS) a capital-based […]
Posted inBusiness Watch
Plan for Detroit: Immigrants bring money
Former state Rep. Steve Tobocman argues immigration is the key to repopulating and reviving Detroit. Now director of Global Detroit, Tobocman recently wrote The Global Detroit Study, which outlines a plan to help Michigan regain economic prosperity by encouraging more immigrants to move here. Bridge Magazine’s Jo Mathis caught up with the voluble Tobocman recently […]
Posted inTalent & Education
Passion still drives Detroit educators
Half of new teachers in urban school districts leave within the first three years, reports the advocacy group Urban Teacher Residency United. Much can be learned by understanding what pushes professionals out of urban classrooms. But what about the other half — the 50 percent who stay? Why do they remain in beleaguered urban school […]
Posted inBusiness Watch
Restauranteur sees city's future in density, immigrants
Torya Blanchard’s entrepreneurial story is becoming the stuff of legend in Detroit. The Detroit native quit a good job teaching French, cashed out her 401k and took the chance of her life by opening Good Girls Go To Paris Crepes in a former hole-in-the-wall hotdog stand behind the Boll YMCA in downtown Detroit. That was […]
Posted inBusiness Watch
Entrepreneur bets on Detroit, urbanism
If you have taken a tour through downtown Detroit, there is a good chance you have walked through Claire Nelson’s shop, Bureau of Urban Living. Bureau, as it’s commonly known, is an Urban Outfitters-style boutique with high-end housewares carrying an urban, Detroit theme. It’s in a small space on the ground floor of the Canfield […]
Posted inMichigan Government
DOC director targets prisoner work problem
Corrections Director Dan Heyns says the Michigan State Industries — the prison system’s work for inmates arm — is in need of change. (See this mlive.com summary of a report from Gongwer News Service.) The Center for Michigan reported on the continuing financial problems about MSI back in August. Among the findings from CFM: “Between […]
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