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Dustin Dwyer · Midwest Memo: Downtown Development In Indy, Wind Farming In Ohio And A Wrigley Icon Survives Bankruptcy
January 25th, 2012
The President sure talked about manufacturing a lot last night. And the Detroit carmakers got a big shout out. Meanwhile, another Midwesterner offered a different view.
But enough about speeches. Developers are planning an $85 million residential complex for downtown Indianapolis.
A state law in Michigan will force the city of Detroit to lower its income tax rate. That could cause an $8.5 million hole for a city already struggling to fix its budget.
In Champaign County, Ohio, which is northeast of Dayton, a $20 million wind farm project is inching forward, but residents still aren’t completely sold on the idea.
Finally, Wrigley Field is one of the most iconic venues in all of sports. One of its many charms is the nearby rooftop seating that overlooks the field. One of those buildings with that rooftop seating recently went into bankruptcy. It sold at auction for $4.8 million.
Dustin Dwyer · Coming At 4:30 EST/3:30 Central: A Live Web Chat With Midwest Teachers
January 25th, 2012
You may have heard the promos on air: This afternoon, Changing Gears will host a live web chat with teachers across the Midwest to talk about the many changes in the past year, and what the future may bring. The web chat accompanies a piece by Dan Bobkoff that’s airing across the Changing Gears partner stations today. It’s the latest in our STATES series. If you’re a teacher, or you’re interested in becoming one, join us here at 4:30 EST/3:30 Central.
CoolCleveland Blog » biztech · RTA: Seeking Transit Advocates
January 25th, 2012
Posted in BizTechCivic AffairsNewsSarah Valek
Are you an RTA rider who’s interested in more than just riding RTA? Want to participate in the organization’s success? RTA currently seeks Transit Advocates for its Citizen’s Advisory Board (CAB). “The CAB is made up of RTA customers, transportation advocates and others who are interested in advising RTA leadership about their perspectives, interests [...]CoolCleveland Blog » biztech · Innovative Healthcare Internships Available
January 25th, 2012
Posted in BizTechCivic AffairsEducationHealthyHelp WantedNewsScienceTechnologyThomas MulreadyVideo
High School Students: You can gain valuable healthcare experience through innovative internship programs at the world-class Cleveland Clinic. Check out this video PSA, an example of a cool internship from a student at Wooster High School. Deadline for 2012 Summer Internship Program is Fri 2/3. To apply, watch the YouTube video here: http://www.youtube.com/watch?v=epS9qpS2vFs WIN $500 by using the free [...]CoolCleveland Blog » biztech · Prosecutor Candidate McDonnell Rates The Current Prosecutor’s Office
January 24th, 2012
Posted in BizTechCivic AffairsEducationNewsPoliticsThomas MulreadyUncategorized
Cool Cleveland Interviews Cuyahoga County Prosecutor Candidates As a service to the community, Cool Cleveland has invited all five Cuyahoga County Prosecutor candidates to respond to a series of questions prior to the primary election on Tuesday, March 6, 2012. Because no Republican candidates are running, the Democratic candidate with the most votes [...]CoolCleveland Blog » biztech · COMMENT: NEO Immigrant Entrepreneur Honored by President Obama
January 24th, 2012
Posted in BizTechCivic AffairsCommentaryEducationEntrepreneurialismNewsThomas MulreadyUncategorized
By Richard Herman During last night’s State of the Union, a Cleveland-area job-creating hero was sitting near the First Lady, listening attentively. His friends call him “Hiro” — short for Hiroyuki Fujita. Hiro is the founder and chief executive officer of Quality Electrodynamics (QED),. based in Mayfield Heights. The President invited Hiro to sit with Michelle Obama [...]CoolCleveland Blog » biztech · Prosecutor Candidate Chandra Rates The Current Prosecutor’s Office
January 24th, 2012
Posted in BizTechCivic AffairsEducationNewsPoliticsThomas Mulready
Cool Cleveland Interviews Cuyahoga County Prosecutor Candidates As a service to the community, Cool Cleveland has invited all five Cuyahoga County Prosecutor candidates to respond to a series of questions prior to the primary election on Tuesday, March 6, 2012. Because no Republican candidates are running, the Democratic candidate with the most votes in the Democratic [...]CoolCleveland Blog » biztech · Prosecutor Candidate Triozzi Rates The Current Prosecutor’s Office
January 24th, 2012
Posted in BizTechCivic AffairsEducationNewsPoliticsThomas MulreadyUncategorized
Cool Cleveland Interviews Cuyahoga County Prosecutor Candidates As a service to the community, Cool Cleveland has invited all five Cuyahoga County Prosecutor candidates to respond to a series of questions prior to the primary election on Tuesday, March 6, 2012. Because no Republican candidates are running, the Democratic candidate with the most votes in the Democratic [...]CoolCleveland Blog » biztech · Prosecutor Candidate McGinty Rates The Current Prosecutor’s Office
January 24th, 2012
Posted in BizTechCivic AffairsEducationNewsPoliticsThomas MulreadyUncategorized
Cool Cleveland Interviews Cuyahoga County Prosecutor Candidates As a service to the community, Cool Cleveland has invited all five Cuyahoga County Prosecutor candidates to respond to a series of questions prior to the primary election on Tuesday, March 6, 2012. Because no Republican candidates are running, the Democratic candidate with the most votes in the Democratic [...]Micki Maynard · GM, Chrysler Could Have Ended Up In Bankruptcy Sooner
January 24th, 2012
The 2009 bankruptcies at General Motors and Chrysler were a historic moment for the Midwest economy. But a new memo published this week by The New Yorker shows that they were in danger of happening
even sooner.
The insight can be found starting on page 36 of a 57-page memo by Lawrence Summers, written to President-elect Barack Obama on Dec. 15, 2008. The memo provides an in-depth look at the thinking that went into drafting Obama’s economic recovery plan.
At the time of the memo, Congress was considering emergency financing for car companies, who had been unable to borrow money from the nation’s banks. The Bush administration also was considering whether to use money from the Troubled Asset Relief Program, originally intended to rescue struggling banks.
Summers wrote, “Given GM and Chrysler’s current cash positions, it is overwhelmingly likely that one or both would be forced to file before or immediately after the New Year.” The Treasury Department, under President Bush, estimated the two companies would need $100 billion in bankruptcy financing.
“We believe that number to be wildly inflated,” Summers wrote.
In the end, the Obama administration provided $82 billion to finance the bankruptcies at GM and Chrysler, and pay for other assistance to dealers, suppliers and communities affected by the auto industry crisis.
Summers’ memo makes for interesting reading for anyone who’s followed the car companies’ bankruptcy and restructuring.
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