  Quozl Member Username: Quozl Post Number: 1302 Registered: 07-2005 |
Tangent: "And I dare say that this is not only the most useful and general [concept] in geometry, that I know, but even that I ever desire to know." Descartes (1637) | ||
Quinn Member Username: Quinn Post Number: 1452 Registered: 01-2005 |
BTW, Gistok I truly love your posts...no ill will towards you. Go forth amongst the posters and be happy. Do not let the murmurings and mutterings of your's truly ruin your mood.  | ||
Bumble Member Username: Bumble Post Number: 315 Registered: 11-2004 |
All this chatter today I feel like I'm at the zoo. Did I miss an announcement? | ||
Gistok Member Username: Gistok Post Number: 5177 Registered: 08-2004 |
Thanks Quinn... Detroitrulez in bottomless Lederhosen traipsing about GCP....  Appalling!  | ||
Bumble Member Username: Bumble Post Number: 316 Registered: 11-2004 |
quote: | ||
Gistok Member Username: Gistok Post Number: 5183 Registered: 08-2004 |
LOL at Bumble, who just TODAY posted this on a different thread! Oh the irony...  quote: (Message edited by Gistok on August 25, 2007) | ||
Wschnitt Member Username: Wschnitt Post Number: 34 Registered: 07-2007 |
Why is it that no one has mentioned the Rock Financial JA building on Larned next to Opus one. Illitch and Gilbert were part of it. | ||
Jelk Member Username: Jelk Post Number: 4555 Registered: 10-2003 |
New Mexico Governor Bill Richardson had it right when he called the mortgage industry a bunch of loan sharks. quote: http://www.latimes.com/busines s/la-fi-petruno1sep01,0,421046 9.column?coll=la-home-center Hat-tip to the Mortgage Lender Implode-o-Meter. http://ml-implode.com/ | ||
Ramcharger Member Username: Ramcharger Post Number: 443 Registered: 05-2006 |
Gilbert starts private-equity biz "RockBridge to invest up to $200M, focus on Michigan" quote: This has the potential to really turn things around for downtown Detroit. I hope Gilbert decides soon and that city officials don't screw this up. (Message edited by Ramcharger on September 03, 2007) | ||
Thejesus Member Username: Thejesus Post Number: 2001 Registered: 06-2006 |
"When asked if Gilbert’s strategy includes a possible move of Quicken’s headquarters to Detroit to be able to house some of RockBridge’s portfolio companies there too, Elizabeth Jones, Quicken’s vice president of communications, said: “Dan hasn’t made a decision yet, so there’s no answer to that, yet.” Still great news though to see some positive business news for SE Michigan.. | ||
Charlottepaul Member Username: Charlottepaul Post Number: 1596 Registered: 10-2006 |
"This has the potential to really turn things around for downtown Detroit." Alright. Start the thread all over again. | ||
Ramcharger Member Username: Ramcharger Post Number: 446 Registered: 05-2006 |
If the readers of this forum have to endure 118 posts about “Fully nude dancing” or endless threads entitled “Where are all the (blank) (blanks)?” I don’t think a post with a link about some real news about Quicken is out of line. | ||
Charlottepaul Member Username: Charlottepaul Post Number: 1598 Registered: 10-2006 |
Good point Ramcharger. | ||
Jelk Member Username: Jelk Post Number: 4557 Registered: 10-2003 |
quote: Why would you assume that if Quicken doesn't move downtown it would be the result of city officials "screwing up." From the media reports it sounds as if city development officials have been bending over backwards to put a deal together for this facocta company. Meanwhile all Dan Gilbert seems to be able to do is talk about himself in the newspaper. I think Quicken is more likely to go bankrupt than move downtown. Don't kid yourself the mortgage meltdown is real. Michigan's economy was already in the toilet and we have a housing stock surplus. If this crisis is a thunderstorm in the rest of the country, it's going to be Hurricane Katrina in Michigan. Far from "turn[ing] things around for downtown Detroit", Quicken will be lucky to come through this crisis still in business. | ||
Ramcharger Member Username: Ramcharger Post Number: 449 Registered: 05-2006 |
I say that because the two sites most often discussed as a possible location for a Quicken headquarters are owned by the city. In addition, Detroit development officials are so inept they couldn’t even handle a no-brainer like casinos. They allowed two of the three casinos to back out of their original development agreements which required completely new construction and in the process cost the city over a billion dollars of new investment and hundreds of construction jobs. As for the health of Quicken Loans, I really can’t comment on that. However, while a Quicken headquarters in downtown would be nice, I don’t think it has the potential to impact the local economy as significantly as Gilbert’s new company Rockbridge Equity Partners L.L.C. A private-equity company could bring dozens of new and diverse companies downtown and create enough business for local firms that we may actually begin to fill some of the huge inventory of empty office space currently downtown. | ||
Livernoisyard Member Username: Livernoisyard Post Number: 3863 Registered: 10-2004 |
Boy, this thread is almost so far down the forum as to get the boot into oblivion... Some ten minutes ago. MarketWatch emailed this: quote:. Sorry but the link there was faulty. Gotta find it yourself. I'm busy. | ||
Jt1 Member Username: Jt1 Post Number: 10065 Registered: 10-2003 |
http://www.marketwatch.com/new s/story/countrywide-may-cut-up -12000/story.aspx?guid=%7B9D3B 3268%2DC364%2D4524%2DB985%2D93 CEA562D4F0%7D | ||
Sparty06 Member Username: Sparty06 Post Number: 18 Registered: 03-2007 |
Can someone explain to me the economics of why having a private equity show in downtown Detroit will help jumpstart local businesses and create capital that will benefit the area? I understand the general gist of how private equity shops work but what I don't understand is why one has to be located in downtown Detroit let alone metro-Detroit for it to have a positive impact here in SE Michigan.... don't the big NYC shops invest all over the country... not just in NYC? Basically, I thought equity shops followed the best markets... not just invested in their local market for the sake of doing so? | ||
Mackinaw Member Username: Mackinaw Post Number: 3649 Registered: 02-2005 |
Where they invest is a separate issue from where their HQ is. As if it needed to be repeated again, having Rock downtown, which makes downtown that much busier and better (could fill in multiple nearby blocks with spinoff retail, i.e.), makes the region better off. Better central city = better region. Metro Detroit needs more of a center and any bit of character that it can get to distinguish itself. Your best bet is to make sure that downtown and the central neighborhoods boom and become places to be. Rock would be one piece in a movement towards making downtown better, thus making metro Detroit more appealing, which would attract employers and retain residents, and yeah, basically, jumpstart the local economy. | ||
Bob Member Username: Bob Post Number: 1555 Registered: 11-2003 |
And Dan Gilbert will want to make a big splash with his announcement, and do all those things mentioned in the last post. He wants to make a difference and help his hometown. It also benefits his to wait out and try to squeeze any extra breaks he can get from the state/city in making his move. The more they sweat the more he may get. | ||
Quinn Member Username: Quinn Post Number: 1459 Registered: 01-2005 |
I'd just say also that every little bit counts. Having another business leader stand up and say, "I think Detroit is a great place to work and have our headquarters," is just another important step towards our goal. It's not the solution, but a necessary rung in the ladder. | ||
Sparty06 Member Username: Sparty06 Post Number: 19 Registered: 03-2007 |
OK, so it's not that it's a private equity shop it's just that it's a white collar employer moving employees into downtown office space. | ||
Timeless Member Username: Timeless Post Number: 1 Registered: 09-2007 |
My understanding of the benefit of having a local private equity shop is that there is more visibility into the local market, making local acquisitions a little bit more likely. It also might suggest to the (inter)national market, that Detroit is a decent place to do business because there is some capital here. Brian Hermelin explained some of this this in Crains... “We have a good perspective on the Midwest market,” said Hermelin. “We are looking at companies as far as California and as close as Detroit. To the extent we can add to job creation in Michigan — I wouldn't say it leads our strategy, but we have a strong bias here. We all live here, and anything we can do to create better economic conditions in Michigan is a good part of the mission.” | ||
Detroitrulez Member Username: Detroitrulez Post Number: 416 Registered: 12-2006 |
BUMP | ||
Quozl Member Username: Quozl Post Number: 1508 Registered: 07-2005 |
Sorry Detroitrulez, the word on the street is that no announcement will be made concerning the relocation to the old Statler site (and AAA too!) until this thread has 1000 posts. You have 45 more bumps to go bro. | ||
Detroitrulez Member Username: Detroitrulez Post Number: 417 Registered: 12-2006 |
bump bumpity bump, bump... | ||
Detroitrulez Member Username: Detroitrulez Post Number: 418 Registered: 12-2006 |
....bump BUMP! are we there yet? | ||
Quozl Member Username: Quozl Post Number: 1512 Registered: 07-2005 |
(Message edited by quozl on September 21, 2007) | ||
Gmich99 Member Username: Gmich99 Post Number: 242 Registered: 11-2005 |
c'mon 1000 | ||
Livernoisyard Member Username: Livernoisyard Post Number: 4005 Registered: 10-2004 |
The next 1000, or maybe even the next 100 posts, will become harder and harder to get due to lack of interest. |
