  Figebornu Member Username: Figebornu Post Number: 57 Registered: 01-2008 |
Has everyone forgotten about Comerica and its abandonment of Detroit at a time when Detroit needs it most? To Dallas it went. And Detroit? It needs a new beginning, much like the movement that Barack Obama is promoting. All of the status-quo, career drenched leaders and politicians should be pink-slipped and allow the release of the suffocating new and unheard of leadeship in. And no KK is not, by the way, part of the new. He is simply an out-growth of the past demons (i.e. Conyers, Mc Namara, Patterson, etc.) who have "played around" with the hearts and souls of struggling Metro Detroiters as they try to navigate the ever-changing world and its economy as GM, Ford, etc. continue to hustle them out of their decades-long contribution to this greedy and shameless auto industry. | ||
D_mcc Member Username: D_mcc Post Number: 235 Registered: 12-2007 |
Right...because Barrack Obama doesn't fit in with all those corrupt money taking politicians. Do some research on your boy and his dealings with corrupt donators when he was in the Illinois Legislature. Or how about how he skipped out of his job to the people of Illinois after only a year in the Senate. How about getting him to actually talk about HIS solutions to problems and the policies he will take and shape that will direct our country if he is elected president. If you can do those things...maybe Obama might seem different. If I remember correctly, we once elected a man who spoke on the platform of hope and change, and reaching accross the Aisle to unite the parties...that man...lives at 1600 Pennsylvania Ave. Don't support a candidate who doesn't talk about issues... Comerica did what any other company that likes to stay open for business does, they left to work in a more plentiful environment. You fault them for that??? | ||
Gistok Member Username: Gistok Post Number: 6312 Registered: 08-2004 |
Figebornu... since you only started posting this year... that's last years news. Go use the search function of archived threads, and you can find enough outrage about Comerica to satisfy your needs... | ||
Evelyn Member Username: Evelyn Post Number: 110 Registered: 02-2005 |
Is Texas in the sunbelt or the south? Or is it considered its own country yet? | ||
D_mcc Member Username: D_mcc Post Number: 242 Registered: 12-2007 |
^^^don't mess with texas... | ||
Izzadore Member Username: Izzadore Post Number: 112 Registered: 11-2006 |
Is Comerica doing alright now that they've moved? Are they a target for merger? | ||
Andylinn Member Username: Andylinn Post Number: 731 Registered: 04-2006 |
I'm plenty upset about it... sure it was partly a business decision... Makes senses... Could part of the choice of Dallas have been that the newly appointed president of Comerica was from Dallas and his family still lived there? Yes.. | ||
Mackinaw Member Username: Mackinaw Post Number: 4440 Registered: 02-2005 |
Comerica leaving was a psychological blow more than anything. It still has employees numbering the hundreds in the same building. But we lost an HQ, and its sad. Detroit's problems go deeper than that. | ||
Detroitrise Member Username: Detroitrise Post Number: 1569 Registered: 09-2007 |
Kmart did the same thing, but hey, the world must go on (no matter how much you dislike it). | ||
Rocket_city Member Username: Rocket_city Post Number: 600 Registered: 04-2006 |
^Yah, but KMart bought Sears...and instead of establishing here, they went there (Illinois). That's like a super-duper-schmooper blow to our image. That would be like Comerica buying 5/3 Bank and moving their headquarters to Cincinnati. | ||
Detroitrise Member Username: Detroitrise Post Number: 1570 Registered: 09-2007 |
It would be wonderful if 5/3 did that to Cincinnati and came here. It would be in an odd, deep way of getting back at their other certain corporation for leaving Detroit's retail market and it would make up for Comerica. (Message edited by detroitrise on February 15, 2008) | ||
Gistok Member Username: Gistok Post Number: 6316 Registered: 08-2004 |
Although we've discussed this all before, what really cheezed me off was that the man who made this decision was also the Chairman of Detroit Renaissance... who's supposed to bring business to Detroit... and then to top it off, he didn't resign his post at Detroit Renaissance after his announcement (is he still in place?).... (simmering down now...) | ||
Eugene Member Username: Eugene Post Number: 9 Registered: 10-2003 |
...I think everyone doesn't realize that only the HQ moved and only brought at most a couple hundred people. There are still literally thousands of Comerica employees in the metro Detroit area. Sure it's bad psychologically that the HQ moved, but it's not like the company closed its doors and took everyone with them | ||
Rocket_city Member Username: Rocket_city Post Number: 604 Registered: 04-2006 |
Yah, maybe GM should do the same. As long as they leave their logo atop the Ren Cen though then everything should be dandy. | ||
Detroitrise Member Username: Detroitrise Post Number: 1572 Registered: 09-2007 |
It wouldn't have been so bad if they weren't the only big name HQ bank in Downtown Detroit and decided to leave. However, they were. Not to mention, both them and Kmart basically dumped all of thier history and dedication in Detroit with the moves (Message edited by detroitrise on February 15, 2008) | ||
Lilpup Member Username: Lilpup Post Number: 3504 Registered: 06-2004 |
Kmart didn't seem like that big of a deal due to their bankruptcy and recent struggles plus the fact that they were HQ'd in Troy and were moving (up) to Chicago. There were no such factors ameliorating the theft of Comerica by effin' Texans. | ||
Hooha Member Username: Hooha Post Number: 164 Registered: 06-2005 |
"Comerica did what any other company that likes to stay open for business does, they left to work in a more plentiful environment. You fault them for that???" Hell yes I fault them for it. I don't really care what's best for Comerica, I care about what's best for Detroit. If Comerica is missing out on marginally better talent at the executive level by staying in Detroit, I really don't care as long as those jobs are still in the D. Maybe if they did a better job of recruiting and marketing the benefits of their Detroit headquarters (you know, showing pictures of lush houses in suburban neighborhoods or whatever it is they think their future employees want to see) maybe they wouldn't have been in this situation. | ||
Andylinn Member Username: Andylinn Post Number: 732 Registered: 04-2006 |
It was an amazing FUMBLE for Comerica... They could have saved themselves alot of bad press and local sentiment (and maybe gotten positive press and sentiment?) if they had said "we're opening a SECOND headquarters in Dallas... They could have still moved 299 of the 300 employees they moved and just kept one of their headquarters here in name... would have been better PR for both the company and the city... | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 1014 Registered: 01-2005 |
What some don't understand is that Comerica does NOT WANT to be associated with having a HQ in Detroit. They don't want to be identified in the world market as a rustbelt bank, especially when it already had a significant presence in TX, and in the booming markets of FL and CA. Comerica has to go where the growth is. | ||
Detroitrise Member Username: Detroitrise Post Number: 1573 Registered: 09-2007 |
I guess Quicken will buy the naming rights to Park then, no? I heard Commie wanted out of it. I find it funny that Detroit went from having a World Class, Top Notch Financial District to just a section of Downtown with Neighborhood Bank Branches cluttered together. (Message edited by detroitrise on February 15, 2008) | ||
Eugene Member Username: Eugene Post Number: 10 Registered: 10-2003 |
It says a lot about top management that the best they can do to grow the company and add value is to...move to Dallas! Way to go guys. Don't acquire other banks or anything "crazy" like that. | ||
Mackinaw Member Username: Mackinaw Post Number: 4442 Registered: 02-2005 |
3WC, you're going to have a tough time explaining to me why corporate HQ location matters that much in this modern, digital economy. Please elaborate. Image is important, but was it enough to get a bank to leave a place where it's been for 100 years, and where it could have claimed a significant stake in an eventual turnaround (possibly attaining a bigger boost in image)? | ||
Detroitrise Member Username: Detroitrise Post Number: 1575 Registered: 09-2007 |
Mackinaw, your sarcasm is horrible. I agree with the second part of response however. Trust me, if the CEO wasn't a Texan, Comerica would still be put in Detroit. | ||
East_detroit Member Username: East_detroit Post Number: 1497 Registered: 11-2003 |
Which bank now best represents and supports Metro Detroit? Things such as investment in the community, number of jobs here, etc. | ||
Detroitrise Member Username: Detroitrise Post Number: 1576 Registered: 09-2007 |
It would have to be Flagstar. Most of the banks in "Metro" Detroit have been absorbed by a bigger bank elsewhere. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 1016 Registered: 01-2005 |
Comerica still has about 7000 employees in MI and MI is still its biggest market. However, there are few if any opportunities for growth in MI, certainly compared to its other primary markets such as TX, CA and FL. And, soon, AZ. I've been a Comerica customer for over 20 years and a shareholder for almost that long. (Wish I currently were not; stock's down 20 points in past few months.) I'd be upset if it hadn't moved. Image plays a relatively minor role in its decision I believe. However, It's now the largest TX headquartered bank (although by far from the largest bank, of course.) Dallas is a major banking center in the southwest. The place is booming. I spend most of my time in N. TX. Comerica has few if any sub-prime loan problems, but its auto-industry related loans are tanking and they, as many do, believe MI's recovery will be a long time coming, if ever. Comerica has been the subject of takeover rumors for years. Most think it will be Wells-Fargo when it happens. I as well as most shareholders can't wait. Bottom line, it is much more likely to happen (and appealing to the acquiring bank's shareholders), if Comerica is a "Texas bank" rather than tainted by its location in MI. I'm getting tired waiting. The fact that the chairman's from TX had nothing to do with the move, which was prompted by and approved by the Board, whose members are primarily from MI. | ||
Lifeinmontage Member Username: Lifeinmontage Post Number: 59 Registered: 10-2007 |
"I've been a Comerica customer for over 20 years" does anyone else have a problem using the word "customer" when talking about handing over large sums of money for nothing? if so, do what i did a long time ago: open an account with a non-profit credit union. anyone that's upset with comerica's move can take some action. plus, you get better rates from a non-profit credit union since they don't have to show profit$ for their inve$tors. | ||
Whittier70 Member Username: Whittier70 Post Number: 22 Registered: 02-2008 |
I pulled my money out of comerica last spring not just because they're moving but because of poor customer service. good riddens to comerica. | ||
Detx Member Username: Detx Post Number: 96 Registered: 07-2007 |
I do a lot of business in Dallas, and I’m actually there right now. Every time I come to this town I’m impressed with its growth and development, which is showing no signs of slowing ANYTIME soon. Dallas has one of the most diverse portfolios of corporate HQs in the country, from oil and gas, to finance, aviation, e-commerce; even the federal government has HQs here. This town is EXTREMELY aggressive in luring HQs from under performing regions (Detroit) and even strong markets (Denver, Montreal). Check out the article below about Dallas being in the running for getting the Miller-Coors HQ. Word on the street is that this is already a done deal and they will be relocating within the year. That’s ANOTHER Fortune 500 company moving in… http://www.dallasnews.com/shar edcontent/dws/dn/latestnews/st ories/021408dnbusmolsonmove.bb 9fab8a.html Michigan leaders need to get off their lethargic asses and study what these red, right-to-work, low tax, no income tax states are doing. The growth Dallas, and other similar cities, isn’t just occurring because they have better weather than Michigan. Comerica abandoning Detroit was utterly SHAMEFUL. And I’m not convinced it was a good business move either, what with their shares under performing thus far since the relocate. And if you think that Ralph Babb, Jr. had nothing to do with the move to Dallas you are absolutely wrong. This guy is the talk of the town in Dallas and one of the most celebrated civic leaders. Things could have been worked out in Detroit, but no doubt he is the one who brought the idea before the board to move to Dallas… Can someone provide a list of Detroit Renaissance members who voted in favor of the move to Dallas? And can someone also elaborate a little bit more on the Kmart move to Illinois? | ||
Thnk2mch Member Username: Thnk2mch Post Number: 1091 Registered: 02-2006 |
Don't forget, Comerica still employs THOUSANDS of people IN Michigan! (ingrates!) |
