Pontiac in Financial Trouble, Local Action Against AIG, and More - Link to Audio
Good Afternoon.
Detroit’s unemployment rate hit a staggering 22.2% for the month of January. It’s the highest rate the city has seen in 26 years-We’ll break down these numbers with Economic Analyst Bruce Weaver of the Department of Labor and Economic Growth.
Detroit is by far not the only city struggling in Michigan, the state has decided to officially take over the city of Pontiac. On Thursday, Gov. Granholm declared a financial emergency in the city and appointed Fred Leeb as emergency financial manager. We’ll assess the situation and the impact of this decision.
With news of several local businesses shutting down, one would think that an independent business cannot be successful in this type of economy. However, one of the few remaining independent markets is a shining spot in this struggling city. WDET reporter Noah Ovshinsky sat down with the president of Hiller’s Market to talk about his goal to keep the state working.
Also, David Cole from the Center of Automotive Research will join us to talk about the future of the domestic automotive industry after the economy recovers.
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Detroit in the mid 60s was home to the musical folk wonder of Chuck and Joni Mitchell; they lived in the Verona apartments on Wayne State’s campus. Chuck Mitchell turned back the clock for Hour Detroit magazine and gives us a glimpse of life as a struggling musician with his wife Joni in this's month's edition. Author George Bulanda joins us to talk about this vibrant and musical time in the city of Detroit
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