DetroitYES Forums - Discuss Detroit https://www.detroityes.com/mb/ en Sun, 16 Dec 2018 18:47:29 GMT vBulletin 60 https://www.detroityes.com/mb/images/misc/rss.png DetroitYES Forums - Discuss Detroit https://www.detroityes.com/mb/ Redemption for Jayru Campbell--Cass Tech Star in Div. II Finals https://www.detroityes.com/mb/showthread.php?23685-Redemption-for-Jayru-Campbell-Cass-Tech-Star-in-Div-II-Finals&goto=newpost Thu, 13 Dec 2018 15:49:36 GMT
Ferris State has won a shot at the Division II national football championship in a story that also features a redemption of Cass Tech's Jayru Campbell who once seemed headed to a life of prison. He blew a MSU scholarship, barely avoided prison and began his climb back by leading a junior college to a national championship.

"Campbell was once a troubled youth — twice arrested when he attended Cass Tech — and saw his scholarship to play for Michigan State taken away while he sat in jail. Now, those close to him say his jovial personality shines on the sidelines when he's not behind center. Teammates flock to him, and both Annese and QB coach Dan Rohn consider Campbell one of the best leaders on the team."

https://www.freep.com/story/sports/c...all/538744002/
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Discuss Detroit Lowell https://www.detroityes.com/mb/showthread.php?23685-Redemption-for-Jayru-Campbell-Cass-Tech-Star-in-Div-II-Finals
10 Things to Do in the D this Weekend Dec. 14-16, 2018 https://www.detroityes.com/mb/showthread.php?23684-10-Things-to-Do-in-the-D-this-Weekend-Dec-14-16-2018&goto=newpost Thu, 13 Dec 2018 15:22:02 GMT * Wander through the Hamtramck Open Market (https://www.facebook.com/events/187256402180111/). * Take part in the Belle Isle Holiday Stroll...

Kickoff List from Crain's Detroit Business. Add your suggestions below.
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Discuss Detroit Lowell https://www.detroityes.com/mb/showthread.php?23684-10-Things-to-Do-in-the-D-this-Weekend-Dec-14-16-2018
Fox 2 Detroit Meteorologist Jessica Starr dies. https://www.detroityes.com/mb/showthread.php?23683-Fox-2-Detroit-Meteorologist-Jessica-Starr-dies&goto=newpost Thu, 13 Dec 2018 15:06:04 GMT This is so very sad.... http://www.fox2detroit.com/news/local-news/meteorologist-jessica-starr-passes-away
This is so very sad....

http://www.fox2detroit.com/news/loca...rr-passes-away
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Discuss Detroit Maof https://www.detroityes.com/mb/showthread.php?23683-Fox-2-Detroit-Meteorologist-Jessica-Starr-dies
M-DOT Considering Road Diet for Grand River Ave (M-5) https://www.detroityes.com/mb/showthread.php?23682-M-DOT-Considering-Road-Diet-for-Grand-River-Ave-(M-5)&goto=newpost Thu, 13 Dec 2018 02:18:04 GMT *MDOT and City of Detroit to host public meeting for M-5 (Grand River Avenue)project in northwest Detroit* *WHAT:* The Michigan Department of...
MDOT and City of Detroit to host public meeting for M-5 (Grand River Avenue)project in northwest Detroit


WHAT:
The Michigan Department of Transportation (MDOT) and the City of Detroit will host an open house-style public meeting to provide an overview of the M-5 (Grand River Avenue) project that includes a road diet between M-39 (Southfield Freeway) and Berg Road, east of US-24 (Telegraph Road). This project will convert seven lanes to five lanes with defined on-street parking and possible bike lanes. There will be an opportunity for the community and residents to reviewproject details and locations, provide comments and concerns, and ask questions.

WHO:
MDOT staff
City of Detroit (Neighborhoods, and Planning and Development Department)
Project consultants
Residents and interested stakeholders

WHEN:
Thursday, Dec. 13, 2018
5:30-7:30 p.m.
Brief presentation at 6 p.m.

WHERE:
Crowell Community Center
16630 Lahser Road
Detroit

Accommodations can be made for persons with disabilities and limited English-speaking ability. Large print materials, auxiliary aids or the services of interpreters, signers, or readers available upon request. Please call 517-335-4381.

BACKGROUND:
MDOT and the City of Detroit have partnered to implement this $12 million project on M-5 (Grand River Avenue) that includes resurfacing, sidewalks, and water main work between M-39 and Berg Road, and streetscaping in two sections,from Cooley Street to McNichols Road and from Evergreen Road to Glastonbury Road.
Project area: https://bit.ly/2P7Iszt

The final layout of the roadway cross section has not been determined; the design phase is just beginning. MDOT and the City of Detroit are seeking community feedback to determine the final roadway cross section. Further design community review meetings will be held in early 2019 and construction is planned for summer 2019.

Information on previous community meetings and City of Detroit neighborhood planning in the Grand River Northwest corridor can be found at www.detroitmi.gov/northwest.
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Discuss Detroit 48307 https://www.detroityes.com/mb/showthread.php?23682-M-DOT-Considering-Road-Diet-for-Grand-River-Ave-(M-5)
Detroit 2019 + https://www.detroityes.com/mb/showthread.php?23681-Detroit-2019&goto=newpost Thu, 13 Dec 2018 01:22:16 GMT
The city needs a better revenue stream in 2019

- Just because it's """balanced"""" a budget don't mean much
Hardly any in = hardly anything out,
but it's balanced, is a piss poor attitude for the future.

All those tax breaks for PoleTown worked soooo wonderfully

https://www.citylab.com/equity/2018/...utdown/577678/

The plant is only 33 years old,
and GM
spent $121 million to renovate it less than five years ago

STILL want to bet on Auto for Detroit - you are a FOOL !!!!!!!!!!
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Discuss Detroit O3H https://www.detroityes.com/mb/showthread.php?23681-Detroit-2019
Seven Detroit neighborhoods to get $35M boost for development https://www.detroityes.com/mb/showthread.php?23680-Seven-Detroit-neighborhoods-to-get-35M-boost-for-development&goto=newpost Wed, 12 Dec 2018 21:06:37 GMT https://www.detroitnews.com/story/news/local/detroit-city/2018/12/10/seven-detroit-neighborhoods-get-35-million-dollars-boost-development/2262979002/...
https://www.detroitnews.com/story/ne...nt/2262979002/

Could there be additional federal money?
https://www.youtube.com/watch?v=LRZviaXbHOI
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Discuss Detroit SammyS https://www.detroityes.com/mb/showthread.php?23680-Seven-Detroit-neighborhoods-to-get-35M-boost-for-development
local design firms downsizing https://www.detroityes.com/mb/showthread.php?23678-local-design-firms-downsizing&goto=newpost Tue, 11 Dec 2018 13:44:08 GMT
Hamilton Anderson design firm expands to Atlanta after 'rightsizing' in Detroit

Quote:

Hamilton Anderson cut 11 positions in a "rightsizing effort" last month, Hoyle said. There are not expected to be more cuts. It now employs 50 in Detroit. Another prominent Detroit-based design firm, Rosetti Associates, laid off 15 employees in October, bringing its payroll to 66. The company saw $10.3 million in revenue in 2016, according to Crain's Book of Lists.
'rightsizing' - aka we hire up and fire down as work flows...we don't actually plan for the long run.

surprised the other players in town haven't announced...yet.
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Discuss Detroit hybridy https://www.detroityes.com/mb/showthread.php?23678-local-design-firms-downsizing
Oldest building still in use in CBD https://www.detroityes.com/mb/showthread.php?23677-Oldest-building-still-in-use-in-CBD&goto=newpost Mon, 10 Dec 2018 19:42:45 GMT
I'm defining CBD as River to Fisher Freeway, Lodge Freeway to Chrysler Freeway. I realize there are other definitions out there, this just seems simple.

I know of one from 1902.
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Discuss Detroit GPCharles https://www.detroityes.com/mb/showthread.php?23677-Oldest-building-still-in-use-in-CBD
Who will VolksWagen gobble up NEXT ? https://www.detroityes.com/mb/showthread.php?23674-Who-will-VolksWagen-gobble-up-NEXT&goto=newpost Sun, 09 Dec 2018 01:06:36 GMT It would appear that acquisition possibilities are to be entertained in the near future. https://www.volkswagenag.com/en/brands-and-models.html ...
It would appear that acquisition possibilities
are to be entertained in the near future.

https://www.volkswagenag.com/en/brands-and-models.html

Headquartered in Wolfsburg, Germany, Volkswagen Aktiengesellschaft
is the world's largest car and truck manufacturer in terms of unit sales.
VW manufactures mass-market and premium vehicles
under the Volkswagen Passenger Cars, SKODA, SEAT, Audi,
Bentley, Lamborghini, Bugatti and Porsche brands,
as well as commercial vehicles under the
Volkswagen Commercial Vehicles, MAN and Scania brands.

In addition, VW has a 100% stake in premium motorcycle manufacturer Ducati.
VW also provides the full range of banking, leasing, insurance
and mobility services.

In 2017, VW delivered 10.7 million vehicles to its customers.
Wall Street anticipates a positive free cash flow generation
and a strengthening of the company's credit metrics with
EBITA margin of at least 7.0% and debt/EBITDA slightly below 2.0x.
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Discuss Detroit O3H https://www.detroityes.com/mb/showthread.php?23674-Who-will-VolksWagen-gobble-up-NEXT
Fiat Chrysler plans to open new assembly factory in Detroit to build SUVs https://www.detroityes.com/mb/showthread.php?23672-Fiat-Chrysler-plans-to-open-new-assembly-factory-in-Detroit-to-build-SUVs&goto=newpost Thu, 06 Dec 2018 20:24:20 GMT
I assume this will be them officially announcing they're coverting the Mack Avenue Engine Plant to build vehicles (this has been an open secret for a while).

https://www.cnbc.com/2018/12/06/fiat...build-suv.html
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Discuss Detroit 313WX https://www.detroityes.com/mb/showthread.php?23672-Fiat-Chrysler-plans-to-open-new-assembly-factory-in-Detroit-to-build-SUVs
<![CDATA["Terrible Ilitches" Facebook Page]]> https://www.detroityes.com/mb/showthread.php?23671-quot-Terrible-Ilitches-quot-Facebook-Page&goto=newpost Thu, 06 Dec 2018 18:50:04 GMT
I was pointed to a FB page that critical of the Ilitch organization's development promises vs. fulfillments and lack of development of blighted properties. Fair or not fair? I'll let you be the judge but some pretty stinging indictments are made.

https://www.facebook.com/TERRIBLEILITCHES/

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Discuss Detroit Lowell https://www.detroityes.com/mb/showthread.php?23671-quot-Terrible-Ilitches-quot-Facebook-Page
Christmas at the Ford Rotunda https://www.detroityes.com/mb/showthread.php?23670-Christmas-at-the-Ford-Rotunda&goto=newpost Thu, 06 Dec 2018 15:37:29 GMT I remember going to the Ford Rotunda with my family every Christmas: “The inside of the Ford Rotunda was filled with a spectacular Christmas display...
I remember going to the Ford Rotunda with my family every Christmas:
“The inside of the Ford Rotunda was filled with a spectacular Christmas display called Christmas Fantasy. New attractions were brought in each year. Thousands and thousands of colored lights and ornaments made the Rotunda simply sparkle and was dazzling to both children ... and adults. Starting in 1953, the Rotunda displayed a 37-foot-tall Christmas tree. This tradition continued for the next nine years. There was also a life-size Nativity set
It was destroyed in a massive fire in 1961. Some 1.5 million people visited the Rotunda each year, making it the fifth most popular tourist attraction in the U.S. The Rotunda received more visits in the 1950s than did the Statue of Liberty”Name:  rotunda.jpg
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Discuss Detroit CassTechGrad https://www.detroityes.com/mb/showthread.php?23670-Christmas-at-the-Ford-Rotunda
10 Things to Do in the D this Weekend Dec. 7-9, 2018 https://www.detroityes.com/mb/showthread.php?23669-10-Things-to-Do-in-the-D-this-Weekend-Dec-7-9-2018&goto=newpost Thu, 06 Dec 2018 15:21:20 GMT * Check out some top notch gymnastics...

Kickoff list from Crain's Detroit Business. Add your suggestions below.
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Discuss Detroit Lowell https://www.detroityes.com/mb/showthread.php?23669-10-Things-to-Do-in-the-D-this-Weekend-Dec-7-9-2018
<![CDATA[WSJ: Detroit's bonds are well-received]]> https://www.detroityes.com/mb/showthread.php?23668-WSJ-Detroit-s-bonds-are-well-received&goto=newpost Thu, 06 Dec 2018 14:03:38 GMT
WSJ (sorry for the cut-and-paste, but linking wasn't working)

Detroit Sees Big Demand in Muni Market Return

For the first time since its bankruptcy, the Motor City issues stand-alone general obligation bonds

By Gunjan Banerji

Updated Dec. 4, 2018 5:40 p.m. ET


Investors embraced Detroit’s first stand-alone bond sale since its historic bankruptcy, a sign many remain willing to lend to the city despite the lingering pain of losses from its restructuring.
The lure of higher yields from the below-investment grade debt outstripped concerns about the city’s troubled financial history, analysts said. Investors suffered losses on Detroit debt when it became the biggest U.S. city to ever file for bankruptcy in 2013.

The sale Tuesday marked the first time since bankruptcy more than five years ago that the city issued stand-alone general obligation bonds—those backed by its own full faith and credit. Those bonds hit investors with losses during Detroit’s restructuring, raising questions about the risks of what many had considered the safest form of state and local debt.
The city sold more than $130 million in debt, it said. The 20-year bonds priced at a 4.95% yield, almost 2 percentage points above average triple-A municipal debt, according to data company Refinitiv, and at least a percentage point less than city officials had initially anticipated.
The city’s five-year bonds priced with yields about 0.2 percentage point lower than five-year debt sold recently by the Chicago Board of Education, another junk-rated municipal issuer, according to Refinitiv.
In a sign of robust appetite for the debt, officials increased the size of the deal from a planned $111 million after investors initially placed orders for more than $1 billion in bonds, about 10 times what was for sale, the city said.
Detroit’s timing was also fortuitous, with steep stock declines Tuesday buoying demand for bonds. Detroit has plans to potentially sell $120 million in debt later this week, officials said. The deals come after one of its economic development authorities issued more than $300 million last week as part of a continuing effort to bolster the city’s downtown.
“It’s a good day to be in the market,” said John Hill, Detroit’s chief financial officer, in an interview. “I was really pleased with the result.”
The money from the sale is intended for infrastructure needs like parks, fire engines and transit improvements. Since Detroit exited bankruptcy in 2014, city officials have tried to rebuild downtown and lure residents, employers and trendy restaurants.
Mr. Hill said that the bonds priced with lower yields than what the city was initially expecting, and that he has been pleasantly surprised at how quickly Detroit regained access to the bond market. Finding a funding solution for its weighty pension liabilities helped, he said.




“It’s a major milestone for the city,” said Mr. Hill, who is stepping down from the CFO role at year-end. The city entered bankruptcy in 2013 after years of population declines left the automobile capital unable to pay bondholders in full or meet basic needs like operating streetlights and emergency medical services. Its downfall stunned municipal investors and changed how they and credit analysts assessed risks in the historically safe corner of the market, where defaults are rarer than in corporate debt.
In one key shift, investors realized bonds backed by a municipality’s full faith and credit weren’t as ironclad as once thought, because pensioners received priority over some bondholders in the court battle over limited government funds. Bond insurers stepped in to make some payments when Detroit didn’t. Some also said the taint of bankruptcy would throttle Detroit’s chances to borrow again and hurt municipalities throughout Michigan.
Yet the extra yield that investors demand to hold the state of Michigan’s general obligations over triple-A municipal debt has fallen since Detroit’s bankruptcy, according to Refinitiv. And Detroit’s deal Tuesday showed a city’s financial history won’t necessarily keep it from the bond market.
“People tend to have a short memory in the face of a pot of gold at the end of the rainbow. No matter how ephemeral the rainbow is,” said Nicholos Venditti, portfolio manager at Thornburg Investment Management, which oversees about $10 billion in municipal debt, said before the sale.
Detroit’s elected officials landed full control of the city’s finances in April, more than three years after the Motor City emerged from bankruptcy, marking the end of an era of state and federal oversight that began decades ago.
Though the city shed billions in long-term liabilities through restructuring and improved its finances, analysts warned that some of its challenges persist.
City officials continue to fight blight. Meanwhile, further population declines could threaten the city’s resurgence, analysts said. Detroit’s schools also have suffered financial difficulties, potentially making it harder to attract residents.
In one sign of the city’s economic fragility, General Motors Co. , one of its biggest employers, recently said it would end production at a Detroit assembly plant. The move, which could lead to more than 1,500 layoffs, shocked workers, union officials and local politicians.
Mr. Hill estimates the layoffs will cost Detroit up to $3 million in tax revenue annually but expects new businesses entering the city to recoup some of those losses.



“The biggest financial challenge for the city is obviously keeping the budget balanced on a continuing basis,” Mr. Hill said.
Last week’s sale by Detroit’s economic development authority carried insurance and an investment grade rating, but investors still demanded a yield premium to buy the bonds, Refinitiv data show.
“They are on an upswing right now but they still have a long way to go, said Craig Brandon, co-director of municipal investments at Eaton Vance. “It was really just five years ago that they were insolvent.”

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Discuss Detroit BankruptcyGuy https://www.detroityes.com/mb/showthread.php?23668-WSJ-Detroit-s-bonds-are-well-received
More millennials are moving to metro Detroit, according to report https://www.detroityes.com/mb/showthread.php?23667-More-millennials-are-moving-to-metro-Detroit-according-to-report&goto=newpost Thu, 06 Dec 2018 02:40:30 GMT
"According to the report, Detroit's regional population growth may be partially attributed to millennials and foreign-born residents moving to the area.

"Between 2013 and 2017, metro Detroit saw the second highest growth among peer cities for populations between the ages of 24 and 35, with positive growth of 9.7 percent. Although Detroit trailed Seattle's millennial growth of 13.5 percent, it outpaced the national average of 5.5 percent."

https://www.metrotimes.com/news-hits...ding-to-report
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Discuss Detroit Worldsgreatest https://www.detroityes.com/mb/showthread.php?23667-More-millennials-are-moving-to-metro-Detroit-according-to-report