Shinola to keep 'Built in Detroit' slogan despite flak. CLARIFICATION: An earlier version of this story gave imprecise information on the country origins of the Swiss movements in Shinola watches. Shinola has since disclosed that about one-third of the movements’ components are manufactured in Thailand. This article is correct. Luxury-goods maker Shinola says it will keep its "Built in Detroit" slogan despite a recent opinion from a federal agency that such claims can wrongly suggest nearly all of a watch's parts are from the U.S., even if critical parts are made overseas. Shinola, a maker of watches, bikes and leather goods, told the Free Press it is aware of the legal guidance from the Federal Trade Commission in a case involving a Kansas City watchmaker, but the Detroit-based company believes its slogans accurately reflect how Shinola makes its watches.
Shinola was started in Detroit in 2011 and has closely aligned itself in marketing materials with a nostalgic, Americana image of the city. Key players provide inside look at Detroit bankruptcy | The Michigan Daily. Key players in Detroit’s now-infamous bankruptcy proceedings convened at the Ford School of Public Policy on Wednesday to discuss the city’s growth since the city first filed for bankruptcy in 2013. The panel focused on the impact of the Detroit “grand bargain,” which decreased the city’s $18 billion debt, restored public safety services and increased funding to city infrastructure. U.S. Bankruptcy Judge Steven W.
Rhodes, who oversaw Detroit’s bankruptcy, designed the $194.8 million bailout, known as the grand bargain, to garner support for a deal from unions and retirees. Rhodes joined Wednesday’s panel along with Judge Gerald Rosen, Judge Mike Gadola, former State Sen. Randy Richardville, former State Rep. The panelists examined how Detroit’s financial challenges halted the city’s full operation — from its road, school and emergency services to the pension plans and benefits for city retirees — and credited the grand bargain with its revival. Bargain and bankruptcy Pensions. 139-square-mile city to maintain; overwhelming health care and pension costs; repeated efforts to manage mounting debts with still more borrowing. One year after bankruptcy, Detroit's pension debts still loom. One year after exiting its historic Chapter 9 municipal bankruptcy, the city of Detroit’s balance sheet shows the city making some financial progress.
In a Nov. 24 report to the governor, the city’s Financial Review Commission notes that on the plus side, the city projects a $35 million surplus for the budget year that ends in June. That bonus is far outweighed, though, by projections that now add $83.4 million to the city’s 2024 pension obligations, a 75 percent increase. The city’s bankruptcy removed about $7.4 billion in debt from the city’s books. The reorganization gave Detroit a decade of breathing room on city pensions and injected some new cash to patch up decayed city services. “It’s still very early in the cycle,” noted Matt Fabian, managing director of Municipal Market Advisors, an independent municipal finance research firm that kept a close eye on the city’s financial restructuring.
Said Fabian: “Detroit’s plan is a fragile one.” Both of those things appear to be happening. Detroit Population Down 25 Percent, Census Finds. Detroit on the edge. The following script is from "Detroit" which aired on Oct. 13, 2013. The correspondent is Bob Simon. Tanya Simon, producer. Few cities have provided more to more Americans than Detroit.
When it filed for bankruptcy in July, it became the largest American city to do that and admit defeat. It wasn't a sudden blow; a hurricane or a tornado. The bankruptcy filing just confirms what residents had known for years: the city that was once an industrial capital of America had hit rock bottom. It looks like it has lost a war. Detroit has long been a playground for arsonists, yet during a decade of massive budget deficits, the city has lost a third of its cops, a third of its firefighters. Bob Simon: Now, how long have you had this leak? Jonathan Frendewey: The leak's been going on for probably a year we've been reporting it. Which happened recently when Frendewey and Jeremy Mullins responded to a car fire. Bob Simon: So the occupants were out there watching their house burn down?
Kevyn Orr: No. Detroit is burning: Mysterious arson fires plague renowned public art project. DETROIT, Mich. — The air on Heidelberg Street reeked of smoke one recent morning. Char and ash darkened the snowy sidewalks. But the color remained: shocks of red and yellow and blue that polka-dot this blighted east side neighborhood, making it one of the city’s leading tourist attractions. For 27 years, The Heidelberg Project, founded by artist and Detroit native Tyree Guyton, has arranged found objects — tires, televisions, toys — with artful grandeur, transforming vacant homes and lots along more than two blocks into an outdoor art museum unlike any other. “It’s true to the city,” said executive director Jenenne Whitfield. “Detroit is a city of originality.” But The Heidelberg Project is under attack. Eight arsons since May — the most recent on December 8 — resulted in four of the seven main Heidelberg houses being burned to the ground. The Heidelberg staff is mystified as to why they are targeted.
“We have what we believe is a new canvas. Related: Detroit pays high price for arson onslaught. Detroit — Arson is a raging epidemic in Detroit, destroying neighborhoods and lives as the city tries to emerge from bankruptcy. Even amid a historic demolition blitz, buildings burn faster than Detroit can raze them. Last year, the city had 3,839 suspicious fires and demolished 3,500 buildings, according to city records analyzed by The Detroit News.
Burned homes scar neighborhoods for years: Two-thirds of those that caught fire from 2010-13 are still standing, records show. "Nothing burns like Detroit," said Lt. The Detroit News researched arson for more than three months and found that it remains a huge obstacle to renewal efforts following bankruptcy. Few neighborhoods were untouched by arson and the entire city bears its costs. "People don't realize arson is a felony. Aides to Mayor Mike Duggan, who has made fighting blight the cornerstone of his administration, declined comment on The News' findings or his strategy for reducing arson. 'Arson is like a cancer' The News found:
The Rise and Fall of Detroit’s Middle Class. In 1973, Ron and Loretta Martin and their three sons moved into the yellow-brick Colonial across the street from my childhood home, on Detroit’s west side. My father greeted them warmly, despite the fact that most of our neighbors saw them as blockbusters, part of a nefarious conspiracy by civil-rights groups to force integration and break up tight-knit white enclaves.
The Martins were one of the first black families on our block. It took a lot of courage to be pioneers, those black families who crossed the city’s racial frontier. And it also took extra money. Black pioneers, as I discovered years later when I wrote a book about Detroit, were usually better off financially than the white people they moved next to. Ron and Loretta were pioneers in another way. It was not always this way. But by the time the Martins moved in, those blue-collar jobs were disappearing. Public employment, of course, did not come cheaply. Thomas J. Photograph by Bill Pugliano/Getty.
Built in Detroit: Shinola has eyes on Europe. YOU MAY NOT have heard of Shinola, but you will—soon. It was set up in Detroit in 2010, a combination of Swiss machinery and know-how, and American verve. This juvenile watchmaking company is fast growing up, and is aiming to make an impact in Europe. Its first foothold, having crossed the Atlantic, is in Paris, and this month it can be found in Colette, at 213 rue Saint-Honoré. It's a long way from Detroit, Michigan, to Paris, France—nearly 4,000 miles, to be a little more precise. Three years ago, in autumn 2010, a small group of businessmen, consisting of watch industry stalwarts from Swiss movement manufacturer Ronda and strategic developers from Dallas-based Bedrock Brands, came together to discuss the possibility of regenerating the long-defunct U.S. watch industry.
What emerged was the Shinola watch factory, which established itself on the fifth floor of Detroit's College for Creative Studies. The workforce is, in the main, American. America's Coming Manufacturing Revolution - Moisés Naím. Hardly a day goes by without an article predicting, lamenting, or celebrating America's decline. The turmoil in Crimea and Syria, the polarized and frequently gridlocked U.S. political system, the deepening income and wealth inequalities in the United States, and the growing clout of rivals like China and Russia are all offered as proof of waning American power. These weaknesses surely exist, and some—like mounting economic inequality—are truly alarming. But the doomsayers often fail to see the ways in which America is gaining rather than losing global influence. And nowhere is this truer than the manufacturing sector. The combination of lower energy prices, innovative information technologies, and advances in robotics and materials science are powering a manufacturing revolution that will reinvigorate the U.S. economy and make many of its industrial sectors the most competitive in the world.
One reason for these job losses is the economic crisis that began in 2008. 54841 jpmc gap detroit aw3 final. Beyond Bankruptcy: How the Detroit Economy has RecoveredEMSI. Even though “failing forward” has become clichéd jargon around conference tables, it’s still both exciting and encouraging to watch someone (or something) rise out of a slump and come back stronger. And there’s no better example than Detroit, Michigan: the nation’s underdog upstart. In 2013, Detroit declared bankruptcy and became the media’s go-to example for struggling cities. But despite great difficulty, it has managed over $2.4 billion in investment and development since January of that year.
And in many key economic categories—including gross domestic product, private sector job growth, and per capita income—the Detroit region is now outperforming national averages. So how did Detroit do it? How do you attract, retain, and expand industry in a region associated with economic collapse? How does an entire region fail forward? Michigan is Auto The Detroit region remains synonymous with the auto industry. And More Than Auto How Detroit Retained and Continues to Attract Businesses Workforce. How Can Detroit Bounce Back After Bankruptcy?
Credit: AP Detroit’s bankruptcy process could take a year or more. But development experts who focus on the Great Lakes region say the city and the nation must get smart about its medium-term future now. If state, local, and national policymakers work together to take advantage of its geography and industrial infrastructure, while recognizing that it must consolidate, the future can be bright. Detroit’s geography will play a crucial role because the city sits on the border with America’s largest trading partner. Pendall isn’t alone in suggesting that so-called Rust Belt cities that have lost the industrial potency that once made them prosperous must be compact in order to be flexible enough to adapt to the next phase of their economic identities. American economic policy also has a big role to play in bringing Motown back, Pendall said. And Detroit’s manufacturing future must be less dependent on the auto industry and more engaged with that industry’s clean energy future.
50 Detroiters: ‘Things are picking up’ 50 Detroiters: Voices from our city Kimberly P. Mitchell, Detroit Free Press The name of the laundromat reveals its dual purpose. The establishment’s chief attendant, Velma Cornelius, illustrates the Piety Hill neighborhood’s resolve for healthy reinvention. “Fit & Fold is a laundromat where you can work out and wash your clothes. It has a full-body gym, you see,” said Cornelius, 59. “It takes the washers 30 minutes to wash and the person has the opportunity to get fit while they’re washing their clothes.” The building had been abandoned for 20 years before a local community development corporation bought it from Wayne County. • Go back to see more Detroiters The vacant building was put into service through the Central Detroit Christian. “I do see improvement. When new customers arrive, “they’re totally in awe — ‘Wow! “Things are getting better. “There are new people coming into the neighborhood.
Read or Share this story: Autos troubles, race at root of Detroit collapse. Blue-collar workers poured into the cavernous auto plants of Detroit for generations, confident that a sturdy back and strong work ethic would bring them a house, a car and economic security. It was a place where the American dream came true. It came true in cities across the industrial heartland, from Chicago's meatpacking plants to the fire-belching steel mills of Cleveland and Pittsburgh. It came true for decades, as manufacturing brought prosperity to big cities in states around the Great Lakes and those who called them home. Detroit was the affluent capital, a city with its own emblematic musical sound and a storied union movement that drew Democratic presidential candidates to Cadillac Square every four years to kick off campaigns at Labor Day rallies.
The good times would not last forever. As the nation's economy began to shift from the business of making things, that line of work met the force of foreign competition. But by that time, Detroit's decline had already begun. The Rise and Fall of Detroit’s Middle Class. Lear targets I-94 park site for Detroit plant - Crain's Detroit Business. Photo by Google Earth The I-94 Industrial Park in Detroit is bounded roughly by Mt.
Elliott on the west, Huber on the north, St. Cyril on the east and Miller on the south Lear Corp. plans to double down on its investment in Detroit by establishing a new manufacturing plant in the next two years, joining a city-led effort to create a hub with at least four other automotive suppliers. The push, supported by the Detroit 3 automakers, seeks to restore manufacturing capacity — and jobs — at the I-94 Industrial Park near the junction of I-94 and I-75 near the American Axle & Manufacturing Holdings Inc. headquarters. The city, working with Los Angeles-based advisory firm AECOM, has assembled 147 acres in and near the industrial park for the project, said F. Thomas Lewand, group executive for jobs and economic development for the city.
Lewand said the city is in active discussions with suppliers about establishing manufacturing operations at the park.