Loading in 2 Seconds...
Loading in 2 Seconds...
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Pulte: Housing market wont' recover quicklyMarch 16, 2007 • The Detroit NewsBloomfield Hills-based Pulte Homes Inc. said the housing market is unlikely to have a quick recovery as buyers wait out the drop in prices, Bloomberg News reported today. "We're not projecting anything to bounce off the bottom at this point," Chief Financial Officer Roger Cregg said at a UBS conference in London today. "There's been a lot of buyers that have moved to the sidelines." Profit at homebuilders has plunged
A PERFECT STORM
Grand Valley State University
October 12, 2010
Oakland County, MI
Metro home foreclosures surge in MayJune 13, 2007 • The Detroit NewsSignificantly more Metro Detroit homeowners faced foreclosures on their homes in May than a year ago, an indication the region's housing market woes are far from over. According to data released Tuesday…
5,500 Michigan jobs to be lostFebruary 15, 2007 • The Detroit NewsAUBURN HILLS -- Metro Detroit dodged a major plant closure in the Chrysler Group's massive restructuring, but the area will still bear the brunt of the automaker's job cuts. Chrysler will slash more than 3,600 factory jobs in the…
Downsizing Pfizer begins summer of layoffsMay 30, 2007 • The Detroit NewsThe largest waves of layoffs so far have begun at Pfizer Inc.'s research and development facility in Ann Arbor, which the pharmaceutical giant is shutting by the end of next year. Pfizer laid off 50 employees earlier this month, and is cutting between 50 and 150 people in two-week cycles through the rest of the summer. The company anticipates that by the end of this year, the number of employees in Ann Arbor will be down to 400, spokesman Rick Chambers said. Pfizer announced its
COMERICA WITHDRAWSMarch 7, 2007 • Detroit Free PressFirst Pfizer, now Comerica. For the second time this year, Michiganders bracing for automotive layoffs have instead been dealt an economic blow from an unexpected source. Comerica Inc.'s decision to move its headquarters to Dallas severs a 158-year hometown relationship with Detroit, and raises anew the scary question about Michigan's economy: What next? Just six weeks ago, pharmaceutical giant Pfizer Inc. stunned Michigan with its decision to close research
New home permits plummet in regionApril 18, 2007 • The Detroit NewsIn another ominous sign for southeast Michigan's housing market, permits for new home construction fell sharply in the first quarter of 2007, according to data released Tuesday by Housing Consultants Inc. Housing permits fell 62 percent in Wayne County, 47 percent in Oakland and 35 percent in Macomb. Total permits for the nine-county southeast region fell to 1,271 in January through March, a 48 percent decline from the same period a year ago, according to the Clarkston-based
Thousands apply for jobs at Wal-Mart in Livonia
August 6, 2007 • Detroit Free Press
More than 5,000 people applied for 300 new jobs at the Wal-Mart Supercenter that opens Wednesday in Livonia. The 210,000-square-foot store is the first Wal-Mart in metro Detroit to sell groceries. The store will employ 530 workers, some of whom transferred from the smaller Livonia store that closes tomorrow evening, said store manager Rita Acosta. The old store sits at I-96 and Middlebelt, across the street from competitors Costco and Meijer. The new Wal-Mart Supercenter is the focal point of the new $80-million Wonderland Village development at Middlebelt and Plymouth roads.
Farmer Jack jobs are at riskApril 28, 2007 • The Detroit NewsThe Great Atlantic & Pacific Tea Co. has notified the union that represents 5,000 Farmer Jack workers that the company expects to comply with a Michigan law that requires at least 60 days notice before workplace closings or mass layoffs
Financial Issues – State / Regional:
Employment / Credit Crunch.
Automobile Industry Issues.
State Finances / Budget Issues.
Foreclosures / Real Estate Market.
Regional Financial Issues.
Notable balance sheet fiscal problems – prior schedules:
Planned full funding of UAL with COPS
Plan closed to new hires
Cost differentiation by age
Prescription co-pay increased
VEBA Trust Created
Vesting schedule lengthened
Actuarial ARC payment begins
Vesting schedule lengthened
Increase to 100% of premium
Benefit Begins, 50% of Premium
Sheriff Deeds - Foreclosures
Number of Foreclosures
1 in 377
1 in 253
1 in 62
1 in 532
1 in 225
1 in 212
1 in 174
1 in 97
1 in 51
1 in 56
1 in 47
Sheriff Deed totals retrieved from the Oakland County Register of Deeds office.
* 2010 Count is estimated using the first 5 months of actual sheriff deeds.
Percentage Change in Assessed and Taxable Values
* 2011 - 2013 Taxable and Assessed Percentages Estimated by the Oakland County Budget Task Force.
2001 - 2010 information from annual Equalization Reports