May 8, 2008

The Latest Business Headlines from WWJ Newsradio 950

Court Rules Against Benefits | The says governments and state universities can't recognize domestic partnerships to provide health insurance to partners of gay workers. | Story

$4 Gas Has Arrived | The average price of premium gasoline in Michigan this week topped $4 a gallon for the first time, the Detroit Free Press reports. | Story

Toyota Profit Down | Earnings for the January-March quarter dropped 28 percent from the previous year, due to the strengthening yen and slow North American sales. | Story | Related Podcast

Axle Talks Continue | UAW negotiators from out-of-town locals weren't at the table, but talks continued to try to end a 72-day strike against American Axle, The Detroit News reports. | Story

Ideas for Boosting Tourism | A Republican legislative task force Wednesday issued recommendations on ways the state can boost its tourism industry, Crain's Detroit Business reports. | Story

Dow Falls 204 | It was the index's biggest decline since April 11. The blue-chip average ended down 1.6 percent at 12,814.35, with all its financial components posting big losses. | Story

This Week in 'Your Future'

National Transportation Week kicks off this weekend.

Local foundations commit $810,000 to One D.

Detroit Public Library to open a haven for teens.

Creative community to get access to tax credits.

Automation Alley says a program has created jobs.

Today's Worldwide Automotive Report podcast.

NATIONAL TRANSPORTATION WEEK CELEBRATION KICKS OFF WITH CRUISE THIS WEEKEND

Next week, our region is leading a national effort to highlight and celebrate the importance of the transportation sector to the U.S. economy. To kick it off, auto enthusiasts are gathering Saturday in Detroit to show off some classic American cars.

For the second year, the Detroit area is hosting National Transportation Week (NTW), which runs from May 11-17. The purpose of the celebration is to help the transportation community increase awareness of its role in American life. Organizers of NTW also seek to make young people aware of transportation-related careers.

The Detroit region’s theme for NTW 2008 is “The Year of the Car," in celebration of the 100th anniversary of the founding of General Motors Corp. and the centennial of the historic Ford Model T.

NTW-related activities in Michigan include a series of events starting with a classic car cruise presented by The Motor Cities National Heritage Area and the Detroit Metro Convention & Visitors Bureau. More...

Renewable Energy on the Right Track – The Trick is to Stay There

By James A. Croce
CEO NextEnergy

I don’t know much about sailboat racing but I’ve heard yacht people speak of a dreaded point in a race where a speeding sloop, under full sail, slips into a “dead spot” on the lake where there is no wind. And all forward motion stops. And they languish, defeated, in a motionless, de-energized piece of flat, still water called “the doldrums.”

There is danger of the same sort lurking just ahead in the renewable energy industry. It’s called the Renewable Energy Production Tax Credit and it is set to expire at the end of 2008 … which is not too far away. More...

LOCAL FOUNDATIONS COMMIT $810,000 TO ONE D: One D, a collaboration of six regional civic organizations working to transform southeast Michigan, has received funding from the region's five leading foundations. Grants totaling $810,000 over a three-year period were provided by the Hudson-Webber Foundation; Kresge Foundation; Community Foundation for Southeast Michigan; McGregor Fund; and Skillman Foundation. The grants bring the total budget to $1.5 million, including contributions from One D partner organizations. More...

DETROIT PUBLIC LIBRARY OPENING HIGH-TECH HAVEN FOR TEENS: The original 1923 children's reading room of the Detroit Public Library's main branch has been transformed into a high-tech haven for teens. The new HYPE Center – the name stands for Helping Young People Excel – is 3,884 square feet of video game consoles, big-screen TVs, performance spaces, quiet study areas, CDs, DVDs, free Wi-Fi – and oh yes, books. Lots and lots of books. Use of the center is restricted to those with a Detroit Public Library card who are between the ages of 13 and 18. For more, from the Great Lakes IT Report, click here.

'CREATIVE COMMUNITY' FIRMS GET ACCESS TO TAX CREDITS: Michigan's creative business community will get a boost as a result of Gov. Jennifer Granholm's signature on a series of bills that would make creative businesses eligible for state MEGA tax credits. State officials say the bill, sponsored by State Sen. Jud Gilbert (R-Algonac), will have a significant impact on Southeast Michigan's efforts to develop creative economy jobs by broadening the definition of businesses eligible for MEGA credits to include those in the creative sector. Digital media including Internet publishing and broadcasting, video gaming, Web development, entertainment technology. More...

AUTOMATION ALLEY SAYS IT HAS CREATED JOBS: Automation Alley's Technology Business Accelerator investments have produced nearly 150 new jobs and additional private capital investments of $12.5 million. That was the word from Thomas Anderson, Automation Alley director of entrepreneurism, in an appearance before the Commerce Committee of the Michigan House of Representatives. For more, from the Great Lakes IT Report, click here.

SBAM LAUNCHED BIZ CONSULTING PROJECT: The Small Business Association of Michigan this week announced a 12-month pilot project to deliver market research to small entrepreneurs in Tuscola, Houghton and Keweenaw counties who want to accelerate the growth of their businesses. The SBAM “Economic Gardening Pilot Project” is funded by $130,000 in grants awarded by the U.S. Department of Agriculture's Rural Business Enterprise Grant program. If successful, SBAM plans to expand the project across Michigan. More...

WORLDWIDE AUTOMOTIVE REPORT PODCAST: Ford has a big day. Toyota sees its quarterly profit slip. WWJ Newsradio 950's Jeff Gilbert asks: What's so great about six speed automatics?

MICHIGAN DELEGATES COULD GET SEATED: Michigan Democratic leaders have settled on a plan to give presidential candidate Hillary Rodham Clinton 69 delegates and Barack Obama 59 as a way to get the delegates seated at the Democratic Party's national convention. Clinton won the Jan. 15 Michigan primary and was to get 73 delegates under state party rules. Obama was to get 55 delegates. The state also has 29 superdelegates. More...

MICHIGAN MINORITY PROCUREMENT CONFERENCE: WWJ Newsradio 950 is a sponsor the 27th Annual Michigan Minority Procurement Conference and Trade Fair, to be held May 12-14 at Cobo Center in Detroit. The theme for this year's event is: “The Economic Turning Point Starts with Minority Business." The conference will provide opportunities for networking, training, leadership development and relationship building designed to position minority businesses for growth and sustainability. For more information and to register online, click here.