Gilbertville: A Billionaire's Drive To Rebuild The Motor City [Forbes]

[Lowell]

Forbes has published an excellent cover article on Dan Gilbert in their Richest Americans issue. It really brings out not only his business genius but his ability to tie into the moment, understand the mood of the times and those who he needs to work for him. Some snippets that stood out for me follow.

The irony is that none of this is part of some master plan. Gilbert never consciously decided on being Detroit’s savior. But six or seven years ago he noticed a worrying trend. Quicken Loans, then based in Detroit’s suburbs, was having trouble filling jobs. “For the first time in our history, we started losing job candidates from universities like U-M and Michigan State,” Gilbert says. “People would tell us, I love your company, but I want to go to Chicago or Boston or New York.”

That’s when he decided to move his workforce to downtown Detroit...

Gilbert has to compete in two of the most cutthroat talent markets in the world: IT and finance.

That’s where Detroit comes in handy. Earning just $43,000 in the Motor City puts you on the same level for earning power as someone raking in $100,000 in New York and $142,000 in San Francisco, thanks largely to housing costs [[the former is some 1,200% more expensive, the latter twice that number).

“Our business is nowhere near what it would have been if we were still spread around the suburbs,” says Gilbert. “On top of it, the creativity, the connectivity. Our people have never been as creative as they are now. There’s a buzz.

What a dynamo he has become. What a contrast to the Manny Moroun's of the world. It seems like ages ago that he bought the Qube and began his imprint, but it is only 4 years ago. And the buzzword 'Gilbertville' seems to be enshrined in the vernacular as well as an added word in my spell check.

[FlyOnTheWall]

I read this article a couple of days ago. Had a lot of stuff on him that i sure liked. I'm sure glad this guy lives and does business in Michigan. Detroiters should be proud that he does business in Detroit.

[Willi]

Would you prefer Taubman, Pulte, Van Elslander, Brodie or some other wealthy investor ?

[Cliffy]

I would take anyone.

[ABetterDetroit]

I would take anyone.

Did you hear that Matty and son? It's a challenge, can you take that train station and make it look like a billion dollars or are you just parasites? Good time to change your rep and look a lot less than the primere Detroit Wusses who got bilked by a bunch of tv ad salesmen on a lot of tv commercials that didn't get you shit. Build it they will come, you can be heroes and get your bridge downriver if you sit down and make deals. But you're running out of time.... The tens of millions I could have saved you....