Detroit Free Press / Business

Monday, Jun 26


Cities lure self-driving car jobs in a gold rush

The development of self-driving cars has pitched a handful of cities into a new gold rush, a chance to be on the forefront of a new technology that will give rise to billion-dollar companies and thousands of new jobs. The stakes are…


Timeline: How Takata's air-bag scandal erupted

Japanese air-bag manufacturer Takata filed for bankruptcy protection late Sunday. The company has faced massive costs associated with defective air bags, which can explode upon deployment, hurling fiery shrapnel into drivers and passengers…

Sunday, Jun 25


Self-driving cars: How our roads, rules may need to change

Self-driving vehicles are synonymous with sophisticated sensors producing terabytes of data being analyzed by powerful computers. But it seems the success of this transportation revolution hinges on a decidedly low-tech material: paint.…

Friday, Jun 23


Macomb Mall store is on latest Sears closing list, report says

The Sears store in Macomb Mall in Roseville is on the latest list of closures from the retail chain, according to a report from Business Insider. The company announced it is closing another 20 stores as the distressed department-store…

Thursday, Jun 22


Review: 2018 Audi Q5 SUV fights a battle of inches

In what may be a sign the luxury SUV boom is about to turn into a glut, the 2018 Audi Q5 is all new, but feels only marginally different from last year's model. Audi built a new assembly plant in Mexico to satisfy America's appetite for…

Wednesday, Jun 21


First drive: 2018 Toyota Camry boasts fuel economy, safety features, style

PORTLAND, Oregon – The all-new 2018 Toyota Camry will hit the road with class-leading fuel economy, a long list of safety features and prices starting at $23,495 when it goes on sale in July. The '18 Camry proved quiet and comfortable in a…

Tuesday, Jun 20


Ford to import Focus from China instead of Mexico

Ford, which was under fire for much of 2016 for its plans to build the Focus in Mexico, said today it is shifting gears a second time and will instead import most of its next generation Focus cars from China. The automaker also said today…

Sunday, Jun 18


How Jim Hackett wants to transform Ford in 100 days

Ford Motor CEO Jim Hackett knows the clock is already ticking on his tenure and intends to make a difference in his first 100 days. Hackett, 62, who replaced Mark Fields as CEO last month, has begun with a mandate from Executive Chairman…

Saturday, Jun 17


GM to open supplier park in Texas, bringing 850 jobs

General Motors today announced plans to open a new supplier park to support future vehicle production at its Arlington Assembly. The new park is expected to house up to 1,250 employees, including bringing more than 850 new jobs to…

Friday, Jun 16


US approves Dow and DuPont merger, last hurdle for deal cleared

The United States has approved the proposed $140 billion merger between Dow and DuPont, the companies have said. U.S. regulatory approval was the last major hurdle for the transaction that was announced in late 2015. Once completed, the…

Sale on milk and eggs: Kroger cuts outlook amid price fight

NEW YORK — Intense competition among grocers is forcing Kroger to slash prices on popular items like milk and eggs — staples that help sway where shoppers go. The company, which operates Fred Meyer, Ralphs and Fry's, on Thursday reported…

Wednesday, Jun 14


Feds ineffective as ‘debt relief’ firms prey on students

Fraudulent “debt relief” companies are preying on the most vulnerable of the 44 million people with student loans, as federal officials dispute who’s to blame and what to do, a NerdWallet investigation has found. U.S. enforcement agencies…


Obamacare rates in Michigan could skyrocket as much as 31% in 2018

Some health insurers in Michigan will be seeking record-level rate hikes next year for plans they sell to individuals — potentially as much as 31% — as debate continues to swirl in Washington over overhauling the Obama-era Affordable Care…

Sunday, Jun 11


Will we see just "two-and-through" rate hikes in 2017?

Detroit Free Press

Another Federal Reserve rate hike seems to be around the corner as sure as patriotic pyrotechnics on the Fourth of July. But most of us aren't celebrating even slightly higher rates on credit cards, car loans and the like. Many are…

Thursday, Jun 8


Scam alert: Is someone using your bank account to pay their bills?

Fay Givens has a warning for small-business owners, nonprofits and others: Watch your checking accounts — someone could be using your money to pay their bills. "Be very, very vigilant," said Givens, executive director for American Indian…

Tuesday, Jun 6


GM CEO Mary Barra fends off hedge fund manager's hostile stock-split pitch


DETROIT — General Motors shareholders resoundingly rejected a hedge fund's proposal to split up its stock in a financial maneuver that CEO Mary Barra and the company's board opposed despite the company's languishing share price. Barra said…

GM shareholders resoundingly reject Einhorn proposal

GM's shareholders on Tuesday overwhelmingly rejected a proposal from activist investor David Einhorn to create two classes of stock and rejected an alternative slate of board nominees, giving CEO Mary Barra and the company's management…

Sunday, Jun 4


A generation of female leaders strengthens GM

Mary Barra is the tip of the iceberg. The first woman to be chairman and CEO of a global automaker, Barra is part of a generation of women leaders reshaping General Motors from the plant floor to the C-suite, jobs historically denied to…

Friday, Jun 2


For 2018 Mackinac conference, let's put more focus on cities' needs

Sometimes I think two types of people attend the annual Mackinac Policy Conference: Mayors of Michigan cities desperate to find new revenue for their strapped city budgets, and Lansing lawmakers adamant about not giving it to them. A…

Thursday, Jun 1


Ford's May sales rise 2.2%, GM falls 1.3%, FCA drops 1%

Ford's U.S. sales rose 2.2% while GM's sales fell 1.3% and Fiat Chrysler's dropped 1% in May as automakers increasingly resorted to incentives to lure customers into dealer showrooms. The Dearborn's automaker's gain was driven by its…


General Motors to cut shift at Warren Transmission

General Motors plans to cut one of its two shifts at the company's Warren Transmission plant, potentially affecting about half of the approximately 580 people who work there. The move is apparently an effort to adjust to slower passenger…

Monday, May 29


Next for Detroit? Find uses for 900 vacant manufacturing sites

Detroit Free Press

Detroit, once the industrial powerhouse of the world, now bears the burden of hundreds of vacant industrial sites. What to do about those sites is the focus of the latest special report from the Detroit Future City Implementation Office,…

Sunday, May 28


Ford's new CEO is a man who can connect

David Kelley tells a story that he says gives some insight into new Ford CEO Jim Hackett's persona. Hackett had invited Kelley, a legendary engineering designer and one of Hackett's longtime business associates, to the Michigan-Ohio State…


Mae Jemison found science (and space) and is encouraging Detroit girls to do so, too

It’s a huge issue across our state, one hampering companies — big and small — as the search for trained workers for tech jobs gets more intense. At last count, the state reported more than 100,000 unfilled job openings — many revolving…

TaskRabbit, other tech apps transforming the way we work

Detroit Free Press

TaskRabbit, a San Francisco-based tech company that launched an app for Detroit and Ann Arbor last week, aims to connect homeowners and renters with professionals to do minor household repairs, assemble furniture — even mow lawns. The…


Threat of a 'lease tsunami' is hurting auto stocks

No doubt, auto stocks are hauling some bad baggage out of the last recession. Many investors were burned when the car companies lost billions and, ultimately, General Motors and Chrysler went through government-assisted bankruptcies in…

Thursday, May 25


Susan Tompor: Does a fatter 401(k) make a baby boomer ready to retire?

Retirement nest eggs can look healthier after the stock market rebound. But how do you plan for retirement now? Wochit Many Baby Boomers have more money saved up, thanks to a booming stock market. But are they really ready to retire? …

Tuesday, May 23


Bill Ford's new role: Message manager

Ford is replacing CEO Mark Fields with Jim Hackett as it struggles to keep its traditional auto-manufacturing business running smoothly while remaking itself as a nimble, high-tech provider of new mobility services. (May 22) AP Ford Motor…

Monday, May 22


Ford names Jim Hackett CEO, replacing Mark Fields, amid management shake-up

Bill Ford, the Executive Chairman of Ford Motor Company, during a press conference at The Henry Ford Academy on Thursday, September 10, 2015, in Dearborn, MI. Ford Motor Company Fund and USC Shoah Foundation announced a partnership to…

Sunday, May 21


GM's battle with activist billionaire investor heats up

Mary T. Barra, Chairman & Chief Executive Officer, GM and David Einhorn, Founder and president of Greenlight Capital (Photo: Eric Ogden, Evan Agostini) The battle for the hearts and minds of shareholders between General Motors and…