Tag: Cowardly with Detroits Financial Disaster

Got kicks? Every Detroit student who shows up on the cash-crucial Student Count Day will be able to answer "yes" thanks to a donation from Bob's Classic Kicks in midtown.

BCK, 4717 Woodward, made an arrangement with the school district to give away a free pair of black leather Nikes to every student who comes to class on Oct. 3, the day when students are counted and their numbers used as the basis for per-pupil funding from the state and federal government.

The more bodies in class, the more money schools have all year.

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PORTAGE, Ind. - Governor Mitch Daniels joined executives from Fronius USA, LLC, the fourth-largest solar inverter producer in the world, today to announce that the company will relocate its North American headquarters here from Michigan, creating up to 512 new jobs by 2016.

The Austrian company will invest more than $26.64 million to lease and equip 400,000 square-feet of space in Portage to assemble and manufacture its products for the North American market. Through this new facility, Fronius plans to develop its current manufacturing capacities to meet the global demand for solar electronic inverters and welding technology.

"We're excited to bring new jobs anywhere in Indiana, but we're particularly excited Fronius has chosen northwest Indiana," said Daniels. "Fronius is well-established, fast-growing and at the top of their field, exactly the kind of company we've rebuilt the Indiana business climate to attract."

Fronius' relocation marks the 1,000th new business establishment or expansion the Indiana Economic Development Corporation, the state's lead economic development agency, has completed since its inception in 2005.

Established in Brighton, Mich. in 2002, the family-owned, international company has been engaged in solar electronics since 1992, in particular the development and production of photovoltaic inverters for both grid-connected and independent power supplies.

"Indiana has a great business climate with a perfect infrastructure for us, including a good network of suppliers and skilled employees," said Wolfgang Niedrist, managing director for U.S. sales at Fronius. "We can't wait to get to know the people of Indiana even better as we move into the community."
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Fronius' establishment in Indiana comes on the heels of two recent announcements from companies also relocating to Indiana from Michigan. Earlier this month, Spartan Motors, Inc. announced its plans to relocate  parts of its operations to Wakarusa from Michigan, creating up to 60 jobs by the second half of 2012. In May, Molded Foam, LLC announced its acquisition of a Michigan firm and intentions to relocate operations to Indiana, creating up to 45 jobs in Elkhart County by 2014.

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So it goes... Michigan continues to hemorrhage its Private Sector Job Creators flowing into Right-To-Work Indiana.  That really should make one question the motive behind Gov Snydholm going "all in" with bypassing the Legislature on his relentless Non-Agreement Agreement campaign for his quasi-government DRIC agenda.  

A New International Trade Crossing would not be built with Chinese steel and was never going to be built with Chinese steel, contrary to a Detroit News columnist's assertion to the contrary, said Canadian Consul General Roy NORTON today.

Norton said whoever tipped off Nolan FINLEY did not "know anything about Canada's procurement policies" and created what he called "not a well-founded story." Norton said Canada doesn't have a preference for Chinese steel and the competitive open bidding process will yield a product that will give taxpayers value. (MIRS June 5, 2012)

Oh man, what a mess. Someone opened up the Pandora's Box about Canada's complete control over the DRIC bridge based on the Letter of Intent of $550 million. After all, there are the secret Terms and Conditions that have never been revealed in that letter that had to be negotiated.  Note what the Consul General said "Canada's procurement policies."

When you supposedly provide all the money, then you can make all the rules. Michiganders finally have understood that. The issue became apparent over the use of the Chinese steel in the construction of the Bridge.

Of course, as I speculated, the real role that the Chinese will play is that they will be the P3 operator of the Bridge and will build, finance and maintain it over the next hundred years. It is an expanded role of that which they undertook in San Francisco. Naturally, that is required because no P3 proponents will ever finance the multibillion dollar DRIC boondoggle without Government guaranteed availability payments. Accordingly, the Chinese are prepared to step into the breach, provided of course that Chinese steel, labour and other materials are used. Or so they are leading everyone to believe at this stage.

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via The Detroit News

The Target Fireworks will go off as planned this month, but the cash-strapped city will get help from county and state authorities to help keep downtown secure, Mayor Dave Bing said Wednesday.

Wayne, Oakland and Macomb counties and the Michigan State Police have committed to helping with public safety and offsetting security costs estimated at about $700,000, Bing said in a statement. This year's fireworks are set for June 25.

"After assessing the considerable public safety costs, we have reached out to and received the support of Wayne, Oakland and Macomb sheriff's offices and the Michigan State Police to help ensure that this year's fireworks display would go on as scheduled," Bing said.

Bing added the city will need help with other big downtown events.

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Is there anything that Bing and the city can do without using other peoples money?  Amazing.  Target decides it wants to get some advertising by propping up an event in a war zone, and the public gets stuck with paying for their zookeeper.

A123 in April received a two-year extension on its deadline to spend a $249.1 million grant from the federal government, originally received in 2009. The money was to be used for the construction of new lithium-ion battery manufacturing facilities in Michigan. A123's Livonia plant opened in 2010, and its Romulus plant opened last year. The company had $120 million left of the $249.1 million grant.

The hiring announcement comes after the company has hit financial problems. In March, A123 said it would spend about $55 million to replace defective battery packs in five battery packages that were assembled at its plant in Livonia.

In addition, financial losses have accelerated. In its 2011 earnings, A123's loss grew 69 percent to $257.7 million from the year earlier. And in April the company reported a first-quarter loss of $125 million -- a 133 percent increase from the  $53.6 million loss during the same quarter in 2011.

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But dammit, when it's a taxpayer funded hole you just put 400 new hands on the shovel to keep on digging.

Mayor Dave Bing and Gov. Rick Snyder met today in Bing's office with LaHood; businessman Roger Penske, chairman of the M-1 project; and several members of the Michigan's congressional delegation to discuss the issues.
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Penske said he was "very excited" about LaHood's comments that he is in favor of the project. "We have to be sure we have all the technical information available to us," he said. "There's a concern, potentially, about who's going to run this."

Penske said it was clear the federal government wants a regional transportation authority [think bridge] to help with the project.

Investors with the M-1 group submitted their plans to federal officials in April. Group officials said they had raised most of the $137 million needed to build the line and pledged to pay 80 percent of the annual cost of operating it through 2025.

The rail line would extend 3.3 miles from downtown, north to the New Center Area.

Can y'all get over the size of the stones on those like Roger in the Billionaire Club walking around with their hand out for taxpayer money?

Molded Foam, LLC, a manufacturer of foam seating and cushioning materials, announced today that it will acquire a Holland, Mich. firm and relocate its operations to Indiana, creating up to 45 new jobs by 2014.

The company, which provides polyurethane foam cushioning to customers in the defense, medical, office-furniture and transportation industries, among others, plans to invest more than $3.8 million to purchase and equip additional space to house the new operations which will include a new molded production line.

"We take this relocation project as an encouraging sign that we're taking the right steps to make Indiana the most attractive place to run a business," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Job growth is great news for any community, but it's especially gratifying when new investment happens in a smaller community like Bristol."

Molded Foam, LLC, plans to begin hiring additional manufacturing and supervisory associates early this summer as the new production line becomes operational.  

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Gov Snydholm, you can dodge and weave RTW all you want, but you're losing your obstinate, veto threatening ground with every Indiana relocation.