Michigan Business, Economy & Tourism

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Historic Preservation
4:33 pm
Wed April 23, 2014

Deal Nixes New Hotel On Mackinac Island

This walkway between the Arnold dock and Main Street will not be overshadowed by a new hotel under a deal signed this week.
Credit Peter Payette

The view of Mackinac Island’s oldest ferry terminal has been protected. Island officials worked out a compromise this week with a developer who wanted to build a new hotel in front of the Arnold Transit dock. It looks like a victory for supporters of new historic protections on Mackinac Island.

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Mackinac Island
8:47 pm
Mon April 21, 2014

Oldest Mackinac Ferry Service Could Be Out

Mackinac Island officials have not heard whether this boat and others owner by Arnold Transit will run this summer.
Credit Peter Payette

UPDATE: Tuesday April 22nd, 9:00 AM

The president of Arnold Transit Company says boats will be ready to run to Mackinac Island when the ice breaks.

Brent Rippe acknowledged the company is having some financial difficulties and says the situation is “fluid.”

On Monday, the Mayor of Mackinac Island, Margaret Doud, said Arnold had missed a deadline to declare whether it would operate this season. Rippe says he spoke with a representative of the mayor over the weekend, stating the company’s intention to operate.

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Detroit
11:45 am
Mon April 21, 2014

Detroit "Grand Bargain," EAA On To-Do List At State Capitol

The state Senate returns this week after three weeks away from Lansing.

Lawmakers have some high-profile issues to address between now and June. That’s when the Legislature breaks for two months in the summer.

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Michigan Business & Economy
12:09 pm
Thu April 17, 2014

Michigan Jobless Rate Drops Slighly

Michigan’s unemployment rate dropped slightly in March to 7.5 percent.

This marks the seventh month in a row the rate has declined, and it’s the lowest it’s been since April of 2008. The jobless rate of seven and a half percent is a little more than a full percentage point below where it was at this time last year.

Most of the job gains over the past 12 months have been in the manufacturing, high-tech, and hotel-and-restaurant sectors. There were job losses in government and financial services.

Auto Industry
7:20 am
Tue April 15, 2014

2 Senior Executives Leave General Motors

Transcript

DAVID GREENE, HOST:

NPR's business news begins with another shakeup at GM.

(SOUNDBITE OF MUSIC)

GREENE: General Motors announced yesterday that two of its senior executives have left the company. The departures of the senior vice president for communications and for human resources follow in the heels of strong criticism of the company's handling of February's recall of nearly 2.6 million cars.

Michigan Business & Economy
3:33 pm
Fri April 11, 2014

The massive GM recall just got more expensive

GM CEO Mary Barra has led the company's response to the recall crisis.

Originally published on Fri April 11, 2014 2:04 pm

General Motors Thursday revised up to $1.3 billion dollars its estimate of the cost of recalling millions of cars with faulty ignition switches.

The automaker will now replace the ignition lock cylinder as well as the switch itself on the defective vehicles. The $1.3  billion estimate includes the cost of repairs and of providing loaner vehicles to customers.

GM shares fell to a 10-month low today in the wake of the news. Ratings agency Standard & Poor's said Thursday that it might put off a planned upgrade of GM's debt to investment-grade status until next year.

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Stateside
5:12 pm
Thu April 10, 2014

Record high reached for fuel economy in the US; what comes next?

There was an encouraging report last month from the University of Michigan's Transportation Research Institute about fuel economy.

We hit a record high in February in terms of gas mileage for new vehicles sold in the U.S.: 25.2 miles per gallon. It's the fifth-straight month gas mileage for new vehicles has topped 25 mpg.

That got us wondering how we're faring in the quest to squeeze out better mileage from our cars and trucks, and in the quest to create electric, hybrid, natural gas and fuel-cell vehicles and technologies.

Charles Griffith is the climate and energy program director at the Ecology Center in Ann Arbor, and he joined us today.

Listen to the full interview above.

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Stateside
6:03 pm
Wed April 9, 2014

"The Joe's" days as the home of the Detroit Red Wings are numbered

Originally published on Thu April 10, 2014 2:05 pm

For the past 35 years, "Hockeytown" in Detroit has meant the on Detroit's Riverfront.  But " The Joe's" days as the home of the Detroit Red Wings are numbered.

The Wings are headed north to the Cass Corridor area between downtown at Midtown.

A new $450-million, 18,000 seat arena is on the way for Wings owner Mike Ilitch,  perhaps as early as the 2016-2017 season.

And what's drawing fire from critics like my next guest is the fact that the stadium deal has the public covering nearly 60% of the sticker price the Ilitches will get all the revenues from the new stadium, and the whole deal was unveiled publicly the week after Detroit declared bankruptcy.

Bill Bradley is a columnist at Next City, where he covers economic development in cities. He dug into the new Wings arena in a piece for nextcity.org. It's title? "Red Wings Stadium Upset! Why Taxpayers are Losing--Again--in Detroit."

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Michigan Business & Economy
4:46 pm
Wed April 9, 2014

New Center Will Encourage Immigrant Investment In Michigan

Michigan will be only the second state in the country to run a statewide center meant to encourage investment from immigrants.

The center will provide visas for people who invest at least $1 million in the state and create at least ten jobs. The required investment goes down to $500,000 if it is made in a rural community or one with high unemployment.

This is one piece of Gov. Rick Snyder’s strategy to attract more immigrants to Michigan. His administration expects the center to bring in at least $30 million and create 600 new jobs every year.

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Stateside
10:18 am
Tue April 8, 2014

Michigan's maple syrup farming is sweet for the economy

A maple tree is tapped for syrup.

Originally published on Tue April 8, 2014 2:27 pm

The first farm crop to be harvested in Michigan is ready. 

Michigan ranks number five in maple syrup production each year, and according to the Michigan Maple Syrup Association, that sweet syrup helps pump nearly $2.5 million into Michigan's economy each year.

But there are plenty of maple trees in Michigan that are not being tapped. So we wondered, if we have all these trees, why aren't more people making maple syrup?

Michael Farrell's book is called The Sugar Makers Companion: An Integrated Approach to Producing Syrup from Maple, Birch, and Walnut Trees.

Farrell joins us today.

Listen to the full interview above. 

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