Poisoned Waters

Dioxins in the Tittabawassee and Saginaw Rivers have been found in the highest concentration on record: 1.6 parts per million.  State guidelines require action when concentrations are above one part per billion.

Dow chemical is already removing silt from three locations in the the Tittabawassee River.
http://news.yahoo.com/s/ap/dow_dioxin;_ylt=AjSuq9RvUsYkHWQHYi1G1cIDW7oF 

Here’s an article on the mortality of Dow Midlant plant workers:

http://www.dioxinspin.com/PDF%20Documents/MIDLAND%20PLANT%20MORTALITY.pdf

Auto Loan Credit could Tighten

Analysts say auto loan-backed securities sold by Ford Motor Credit  and GMAC are showing higher delinquency rates.

Continued problems may force automotive loan interest rates higher, further depressing vehicle sales and eating into automotive company profits.

http://www.clickondetroit.com/news/14643081/detail.html

Detroit Regains “Most Dangerous City” Title

A new study based on FBI crime statistics has declared Detroit  the most dangerous of 378 U.S. cities when considering homicide, rape, robbery, aggravated assault, burglary and auto theft.

Bonus: Flint won 3rd place!

http://ap.google.com/article/ALeqM5i5ZosSlEKY0sR3iDYZmm1_JW0bHQD8T0EUK03

Michigan Unemployment Highest in 15 Years

Michigan’s unemployment rate rose to 7.7% in October, the highest rate since late 1992.

http://www.clickondetroit.com/news/14599257/detail.html 

http://www.clickondetroit.com/news/14599257/detail.html 

Quicken Loans Moving to Detroit

Livonia-based Quicken Loans (and its subsidiary Rock Financial)

Announced Monday that they’ll be moving their headquarters to downtown Detroit.

$200 million in tax incentives made it an attractive offer. 

Quicken loans has yet to feel the effects of the mortgage crisis that has affected other lenders, but they have lost around 160 people over the past few months due to attrition, and currently have a hiring freeze in place.  With an attrition rate of 36%, one wonders how many will be left to move to Detroit when their new building (either on the old Statler or Hundon’s sites) will be ready in 4-5 years.

http://www.mlive.com/newsflash/michigan/index.ssf?/base/news-48/119497585987250.xml&storylist=newsmichigan 

http://en.wikipedia.org/wiki/Quicken_Loans

Ryan Homes Leaving Michigan

Ryan Homes, one of the largest homebuilders in the country, is leaving the state.

They want to get out so fast they’re going to return deposits for homes not yet started.

Their parent company, NVR, has lost nearly 50% of its share value over the last year.

“The number of building permits issued for single-family homes in Metro Detroit has plummeted from 13,945 to 7,565 last year in Wayne, Oakland, Macomb and Livingston counties. Only 2,190 have been issued so far this year.”

http://www.detnews.com/apps/pbcs.dll/article?AID=/20071103/BIZ/711030383/1001

Mackinac Brindge wants to Raise Fees

The Mackinac Bridge Authority wants to raise the $2.50 crossing fee to $4 for cars and from $3 to $5 per axle for trucks.  Up until 2003 the fee was only $1.50 for cars.  Apparently the $14.2 million that they raised last year was not enough to keep the bridge in repair.  That works out to $538 of revenue per linear foot of the bridge.  But why try to economize when you’re running a monopoly?  Why not raise the fee to $100 and cover the bridge in gold leaf?  Wouldn’t that draw more people to the state, and look real good on the poster behind Gov. Granholm???

 

http://www.mackinacbridge.org/news-6/

http://www.stignacenews.com/news/2007/0726/bridge/122.html

Detroit Public Schools: 4th Largest Employer in SE Michigan

According to Crain’s Detroit Business, the Detroit Public Schools employ 17327 persons. This is more than the University of Michigan (16832), and over half as many as Chrysler (32597). DPS is also the largest employer of city residents.

They graduated 6037 students in 2006, which works out to 2.5 employees per graduate (there were 14913 employees in 2006).

Meanwhile, Chrysler made 78 vehicles per employee.

Is it any wonder that enrollment continues to drop?

http://www.detroit.k12.mi.us/data/finance/2006_Comprehensive_Annual_Financial_Report.pdf

http://en.wikipedia.org/wiki/Automaker

Metro Airport wants a Monorail

Based on the wild successes of other monorail systems constructed in the state, the geniuses who run Detroit Metro Airport want to spend $1 billion to build a new monorail that would connect passenger terminals to the rental-car lots.

If the airport were a private entity, and the monorail a good way move people, then customers would be clamoring for and business would be offering to build a profitable system to fulfill that need.  Instead we have government-appointed bureaucrats who get to decide what’s in our best interest, and then demand that travelers pay for this new service, instead of letting the users pay by choice. But to allow choice and free markets would only expose the waste and inefficiencies, as costs run over initial estimates and usage continually fails to meet projections.

They want to charge an additional $2.50 (over the current $4.50) “passenger facility charge” for each airline trip segment, up to a total of $18 for round-trips.

They claim these increases would generate a new $2.2 billion per year, without stating what the extra money would be used for, or why it’s needed. The should check with the City of Detroit on how much money the People Mover is adding to the general fund.

I suppose that those who aren’t renting cars will paying for the privilege of viewing the beautiful new monorail, and admiring the commemorative plaques with pictures of the bureaucrats that are likely to adorn the station terminal walls.

It’s time to privatize the airports…

http://atdetroit.net/forum/messages/5/118413.html?1194277833

Chrysler Selling Property

Chrysler is putting $23 million worth of land in the Metro Detroit area up for sale. Know anyone who’s in the market for:

- A vehicle testing center in Sterling Heights ($7M)?

- A full-size van assembly plant in Windsor ($13.5M)?

- A foundry on Van Dyke & Lynch in Detroit ($2M)?

- A lot on Mound & Outer Drive in Detroit ($300K)?

- An industrial building on Plymouth near Schaefer in Detroit (190K)?

http://www.crainsdetroit.com/apps/pbcs.dll/article?AID=/20071029/SUB/310290008/-/-/chrysler-property-for-sale