business - Oakland Mall

OAKLAND MALL
TROY, MICHIGAN
RETAIL PROPERTIES, LLC
RETAIL PROPERTIES, LLC
OVERVIEW
n Oakland Mall is a 1.5 million square foot super regional
shopping center located in the Detroit Metropolitan area
of Michigan, serving approximately 650,000 people with
an average income of about $70,101.
n Oakland Mall’s family friendly atmosphere, selection
of stores, with great access and visibility from major
thoroughfares Interstate 75, 14 Mile Road, and John R
Highway make it a top destination.
n Oakland Mall’s central location in the Tri-County
shopping district continue to make it a powerful retail
destination today and into the future.
n Anchored by Macy’s, Sears and JCPenney, Oakland Mall
includes more than 128 specialty stores.
n Oakland Mall has a variety of exciting stores including
Aeropostale, Express/Express Men, Victoria’s Secret,
Forever 21, Bath & Body Works, and The Children’s Place.
n The Detroit Metropolitan area is home to six community colleges plus Oakland University and Wayne State University as well as campuses for the University of Michigan,
Michigan State, Central Michigan, Western Michigan, and
Eastern Michigan Universities. Within the market trade
area enrollment for the universities is estimated at 100,000
students in the fall of 2011 and those universities have a
total combined annual operating budget in excess
of $1.4 billion.
n Oakland Mall as a total retail complex exceeds $300
million in annual sales. In addition, the department stores
are very strong in their respective districts: Sears is #1
out of 11, Macy’s is #3 out of 18, and JCPenney is #3
out of 18.
n Oakland Mall’s trade area represents 66% of the
shoppers and serves 30% of the total 3.86 million
tri-county residents.
PROPERTY INFORMATION
& TRAFFIC COUNTS
26,156
145,000
37,940
38,858
48,198
48,613
LOCATION 412 W. 14 Mile Road Troy, Michigan www.oaklandmall.com
REGIONAL ACCESS I-75 and 14 Mile Road John R and 14 Mile Road
DESCRIPTION
Super Regional Shopping Center
TRAFFIC PATTERN 344,765 daily vehicles* MAJOR STORES Macy’s, Sears, JCPenney TOTAL RETAIL SQ. FT.
1,500,000
PARKING: 8,500 Spaces OPENED: 1968 NUMBER OF STORES: 128
* © CoStar Inc.
AERIAL VIEW
COMPETITION PROFILE
7.5 Mile Center
Radius
Median
Average
Population Household
Income Income Population Projection HouseholdsProjection
Fairlane Town Center
$48,373
$39,017
779,408732,479283,651265,533
Great Lakes Crossing $78,693 $60,683
276,082
275,526
106,876
107,474
Lakeside Mall $70,854
$60,021
494,682505,868194,266200,243
Laurel Park Place
$80,712 $63,631
425,471
408,629
169,992
163,350
Macomb Mall $58,162
$48,631
519,011513,927218,729219,354
Oakland Mall $70,101
$55,083
648,817638,724268,061266,573
Somerset Collection
$85,012
$63,982
506,613499,369210,972209,833
Village of
Rochester Hills $88,940
$67,176
295,833298,747111,634113,542
Great Lakes
Crossing
The Village of
Rochester Hills
Lakeside
Mall
The Mall at
Partridge Creek
The Somerset
Collection
Oakland
Mall
Twelve Oaks
Mall
Laurel Park
Place
Fairlane Town
Center
Macomb
Mall
MARKET TRADE AREA
POPULATION HOUSEHOLD INCOME
2011 Estimate: 648,817
$70,101 Average Income
70% Income over $35,000
POPULATION AGE TOTAL HOUSEHOLDS
30% Age under 25
42% Age 25-54 268,061
28% Age 55+
Median Age: 40.0
*According to the CQ Press, Troy has the lowest crime rate ranking
in Michigan for cities with a population of 75,000 or more
Source: Urban Retail Properties,
LLC Market Research
© 2011 CLARITAS, INC. All Rights
BUSINESS
PROFESSIONAL EMPLOYMENT CATEGORIES:
Professional 35% Administrative Support 15%
Services 12% Mgmt/Business 10%
Transportation 5% Sales 12%
Other 3% Production 8%
White Collar 67%
Blue Collar 17%
DAYTIME POPULATIONS
In Oakland Mall’s primary trade area there are 28,925 businesses with 351,063 employees.
Employee to residential population ratio is 53%. Oakland Mall’s daytime population is 69,586
the highest population counts of any mall in the Detroit DMA within 5 miles.
There are over 49 hotels within Oakland Mall’s primary trade area providing 5,252 rooms.
LARGEST PRIVATE EMPLOYERS IN METRO DETROIT
Ford Motor Company University of Michigan General Motors Chrysler Henry Ford Health System Trinity Health 38,000 27,754 24,867 21,927 19,951 13,122 Automotive
Public University/Health Care
Automotive
Automotive
Health Care
Health Care
LARGEST PUBLIC EMPLOYERS IN METRO DETROIT
US Government Detroit Public Schools City of Detroit US Postal Service
18,900 13,039 11,396 11,110
Federal Government
Public School System
City Government
Postal Service
in Michigan
METRO, 3A
TOM WALSH
Quicken Loans
sees explosive
growth in 2012
BUSINESS, 1C
MEDICINE
Scientists win
Nobel Prize for
stem cell
breakthrough
ALDS GAME 3: DETROIT VS. OAKLAND,
9:07 TONIGHT, TBS
What gaming
console is best
choice for you?
By Paul Egan
Free Press Lansing Bureau
LANSING — Republican presidential
nominee Mitt Romney’s performance in
his first debate with President Barack
O him
N trim
G Obama’s
U A R lead
D in
Obama helped
Michigan by seven percentage points and
put the state back in play, according to a
poll released Monday to the Free Press.
About 48% of likely voters would sup-
LIFE, 1D
64 46
Low
NICE, SUNNY BUT
A LITTLE BREEZY
FORECAST, 2A
INDEX
Bridge .........4D
Business.......1C
Classified .....3C
Comics ........6D
Corrections ..2A
Deaths.........7A
Editorials .....9A
Horoscope ...2D
Life...............1D
Lottery.........2A
Metro ..........3A
Movies ........3D
Puzzles ....4-5D
Sports ..........1B
Vol. 182, Number 158
© 2012 Detroit Free Press Inc., Printed in the U.S.
MEGHA SATYANARAYANA/DFP
HAY PRICES
$1.00
More horses
going hungry
in Michigan
50% OFF
A POP ROCK
MANI/PEDI AT SHE
SALON & BOUTIQUE
METRO, 3A
IN SOUTHFIELD
DETAILS, 2A
TOM WALSH
Quicken Loans
sees explosive
growth in 2012
BUSINESS, 1C
MEDICINE
Scientists win
Nobel Prize for
stem cell
breakthrough
NATION+WORLD, 6A
TECH TUESDAY
What gaming
console is best
choice for you?
LIFE, 1D
64 46
High
Low
NICE, SUNNY BUT
A LITTLE BREEZY
Expect showers Wednesday.
FORECAST, 2A
INDEX
Bridge .........4D
Business.......1C
Classified .....3C
Comics ........6D
Corrections ..2A
Deaths.........7A
Editorials .....9A
CLOSING
THE DEAL
Horoscope ...2D
Life...............1D
Lottery.........2A
Metro ..........3A
Movies ........3D
Puzzles ....4-5D
Sports ..........1B
Vol. 182, Number 158
© 2012 Detroit Free Press Inc., Printed in the U.S.
KATHLEEN GALLIGAN/DETROIT FREE PRESS
OAKLAND UNIVERSITY RALLY: Kid Rock introduces Republican vice presidential nominee Paul Ryan to cheers Monday night.
Kid Rock introduced Ryan as “a fellow hunter, a fellow fan of rock ‘n’ roll, a great Midwesterner.” SEE STORY, 5A
TECH TUESDAY
Expect showers Wednesday.
ECONOMY
From January to December 2011 the number of employed Oakland County
residents increased by 12,268 the largest increase among all of Michigan’s counties.
State battleground again as challenger sways undecided voters
LOOK
FOR SWEEP AGAINST
Source:TIGERS
US.STEWING
Deartment
of Commerce, Bureau of Labor Statistics
ATHLETICS
NATION+WORLD, 6A
High
Mayor Dave Bing moves faster
and more aggressively to restructure city services, the joint
city-state financial advisory
board warned Monday.
Expressing frustration at the
slow pace of reform, the board
said that six months into state
oversight, too many measures
meant to stave off bankruptcy
are moving too slowly, including restructuring the police and
fire departments and the bus
system, improving tax collections and saving money with pay
cuts and reductions in health
care and retiree benefits.
“At the present pace, I think
the city is going to run out of
money” before it can implement
changes needed to avoid even
worse financial trouble, board
member Ken Whipple, a former
CEO of Consumers Energy, told
members of Bing’s administration at the financial board’s
monthly meeting at Wayne
State University.
Whipple said he recently observed operations at the city’s
bus system and public lighting
department and saw “pockets of
brilliance in a sea of disastrous
work practices.”
Board members, including
Chairwoman Sandra Pierce,
told the city’s Program Management Director William (Kriss)
Andrews, Bing’s Chief Financial Officer Jack Martin and
Chief Operations Officer Chris
Brown that they’re seeing too
few signs of progress in reversing Detroit’s $200-million annual deficit. She said the lack of
progress is putting the city at
risk of having negative cash
flow by year’s end.
Whipple suggested the administration consider fast-track
hiring of an outside turnaround
Tuesday 10.9.2012
port Obama, and 45% would support Romney, according to the poll of 600 likely voters conducted by EPIC-MRA of Lansing.
Last
month,1Bbefore the Oct. 3 debate in
SPORTS,
Colorado, Obama led Romney, 47%-37%,
in a poll by the same firm. That poll and
F others
O R appeared
1 8 to
1 putYMichigan
E A RoutS of
reach for Romney, a native son.
Now, Obama’s lead is within the poll’s
margin of error of plus or minus 4 percentage points. The undecided vote has
www.freep.com
shrunk from 16% to 7%.
“Romney has come back like gangbusters,” said EPIC-MRA President Bernie
Porn. “Whether or not it’s long-lasting, only time will tell, but probably the remaining debates will be key.”
The results mirror national polls and
those in swing states done since the
Wednesday debate that show the race
tightening.
See DETROIT, PAGE 2A
1,500 new jobs
at GM:
Here’s poll
New
presidential
what automaker is looking for
AFTER DEBATE,
ROMNEY SURGES
INBUSINESS
MICHIGAN 48% 45%
Next
Detroit police chief candidates
BOARD
will be asked about relationships
HAS DIRE
WARNING
FOR BING
PHELAN: Fiat may grow American lineup to 3.
High-tech positions
may be tough to fill
maker into a recruiting thicket
crammed with the world’s most
innovative high-tech companies
— all competing to hire a limited
number of software engineers
ByWWW.FREEP.COM
Nathan Bomey
SUNDAY, MARCH 18, 2012
coming out of college or mid-caFree Press Business Writer
CHRYSLER
reer retraining programs.
You don’t have to be a car
In a competition with compa- Eminem, the star of 2011 ad.
Mitt Romney
junkie to get a job at General nies such as Amazon, FacebookBarack Obama
Motors’ new software innova- and General Electric, GM will
tion center in Warren, but you fight for recent college gradumight have to be a coding guru ates and experienced software
— and software experts are in professionals with an eye to- THE UNTOLD STORY
x
See POLL, PAGE 5A
◆
◆
B
short supply.
ward reducing its digital buGM313-222-6610
announced [email protected]
Monday that reaucracy.
it plans to add 1,500 software deThe new hires will work to
velopment and data manage- radically simplify, combine and
ment jobs at its Warren Tech improve the automaker’s nuCenter as part of its effort to in- merous software applications
source 90% of its IT work.
See GM, PAGE 2A
The move catapults the auto-
Sex scandal forces
Godbee to retire
By Gina Damron,
Tresa Baldas, Matt Helms
and Elisha Anderson
Advisers say mayor
acting
toofor
slowly
as next
Candidates
Detroit’s
police chief will be asked a
time, money run out
touchy question during the se-
Free Press Staff Writers
NANCY KAFFER:
Scandal dashes
hopes for
police reforms
PAGE 9A
x
Robinson2B
alleged she had a
months-long relationship with
the chief. It was the second time
Godbee3B>
was accused of having
an affair with a subordinate during his two years as chief.
His predecessor,
Warren Ev3B
ans, was forced to resign, in
part, because of his relationship
with the same lieutenant Godbee had been involved with before being appointed.
The Rev. Jerome Warfield,
Business
GROWING: Firm’s technology gets noticed.
Patterson helps hard-luck hound.
HowCAIN:
Eminem’s
Breakdown of results, 5A
Super Bowl ad
came together
the last
Carat comes toatDetroit
minute PAGE 1C
TOM WALSH FINDS
SIMILARITIES WITH DETROIT’S
CURRENT FISCAL SITUATION
Benton Harbor
progress seen
O
By Matt
Helms Have you ever
lection
process:
Free Press Staff Writer
had an intimate relationship
with aThe
subordinate?
City of Detroit is going to
be
broke
in a few months
unless
The
questioning
is designed
Mayor Dave Bing moves faster
to avoid
a sex scandal like the
and more aggressively to reonestructure
that forced
Detroit
Police
city services,
the joint
city-state
Chief
Ralphfinancial
Godbeeadvisory
Jr. to imboard warned
Monday.
mediately
retire
Monday, a
Expressing frustration at the
week
after
Officer
Angelica
slow pace of reform, the board
See CHIEF, PAGE 4A
said that six months into state
oversight, too many measures
meant to stave off bankruptcy
are moving too slowly, including restructuring the police and
fire departments and the bus
system, improving tax collections and saving money with pay
cuts and reductions in health
care and retiree benefits.
“At the present pace, I think
the city is going to run out of
money” before it can implement
changes needed to avoid even
worse financial trouble, board
member Ken Whipple, a former
CEO of Consumers Energy, told
members of Bing’s administration at the financial board’s
monthly meeting at Wayne
State University.
Whipple said he recently observed operations at the city’s
bus system and public lighting
department and saw “pockets of
brilliance in a sea of disastrous
work practices.”
Board members, including
Chairwoman Sandra Pierce,
told the city’s Program Management Director William (Kriss)
Andrews, Bing’s Chief Financial Officer Jack Martin and
Chief Operations Officer Chris
Brown that they’re seeing too
few signs of progress in reversing Detroit’s $200-million annual deficit. She said the lack of
progress is putting the city at
risk of having negative cash
flow by year’s end.
Whipple suggested the administration consider fast-track
hiring of an outside turnaround
ne week from today, Benton
RICHARD DREW/ASSOCIATED PRESS
Harbor will celebrate the second anniversary of Gov. Jennifer
Greg Smith, an executive direcGranholm’s decision to put an emertor at Goldman Sachs, resigned
gency manager in control of that
with a blistering editorial in the
struggling city’s finances.
New York Times.
OK, maybe “celebrate” isn’t
exactly the right word.
The autocratic rule of Joe Harris, Benton Harbor’s manager, has
drawn howls of protest from local
elected officials whose own powers
KATHLEEN GALLIGAN/DETROIT FREE PRESS
were diminished, and sharp critOAKLAND
UNIVERSITY
RALLY:
Kid Rock introduces Republican vice presidential nominee Paul Ryan to cheers Monday night.
icism from
the NAACP
and even
Kid MSNBC
Rock introduced
Ryan as
“a fellow
hunter, a fellow fan of rock ‘n’ roll, a great Midwesterner.” SEE STORY, 5A
host Rachel
Maddow.
While
the budget deficit has shrunk from
around $2.5 million when Harris
arrived to $650,000 today, Benton
Harbor
remains in the red.
port Obama, and 45% would support Rom- shrunk from 16% to 7%.
By Paul
Egan
Still, things are improving, says
“Romney has come back like gangbustney, according to the poll of 600 likely votFree Press Lansing Bureau
Jeff Fettig, CEO of Benton Harbor’s ers conducted by EPIC-MRA of Lansing. ers,” said EPIC-MRA President Bernie
largest taxpayer
and corporate
LANSING
— Republican
presidential Last month, before the Oct. 3 debate in Porn. “Whether or not it’s long-lasting, oncitizen,
global
appliance
maker in Colorado, Obama led Romney, 47%-37%, ly time will tell, but probably the remainnominee
Mitt
Romney’s
performance
his Whirlpool.
first debate with President Barack in a poll by the same firm. That poll and ing debates will be key.”
The results mirror national polls and
Obama“Our
helped
him
Obama’s
lead in others appeared to put Michigan out of
view
is trim
that it’s
working
By Daniel Wagner
those in swing states done since the
Michigan
by of
seven
percentage
points and reach for Romney, a native son.
and a lot
progress
has been
and Christina Rexrode
Now, Obama’s lead is within the poll’s Wednesday debate that show the race
put made,”
the state
back told
in play,
according in
to a
Fettig
me Thursday
Associated Press
margin of error of plus or minus 4 per- tightening.
poll released Monday
to the Free Press.
Detroit.
About 48% of likelyWhat
voters
wouldI sup- centage points. The undecided vote has
See POLL, PAGE 5A
advice,
The young banker whose
asked Fettig, might
dramatic public resignation
PHOTOS
BY WILLIAM
ARCHIE/DETROIT
FREE PRESS
See DETROIT,
PAGE
2A
he have for Detroit as
stung Goldman Sachs last week
John Strika, left, helps Samara Bradley move her desk to her new location at Carat, GM’s new global media-buying company, in
Mayor Dave Bing
joins officials from every corDetroit on Friday. Carat is opening a new office in downtown Detroit.
and Gov. Rick Snyder
ner of the government in queswrangle over how to
tioning whether the august inavert the impending
vestment house deals honestly
financial collapse of
with its clients.
Michigan’s largest
Jeff
In separate cases, judges,
maker into a recruiting thicket
city?
Fettig
lawmakers and regulators have
NANCY KAFFER:
crammed
“Obviously,
it’s a with the world’s most
suggested the bank ignores conScandal dashes
innovative
high-tech
companies
different scale,”
flicts of interest and sells to its
hopes for
— all competing to hire a limited
Fettig noted — Benton Harbor’s
clients investments it knows are
police reforms
number of software engineers
By Nathan Bomey
By Gina Damron,
population of 10,000 is aboutcoming
1/70th out of college or mid-caweak, all in the pursuit of profit.
PAGE 9A
Tresa Baldas, Matt Helms
Free Press Business Writer
that of Detroit’s — “but ourreer
viewretraining
is
The resignation Wednesday
CHRYSLER
programs.
and Elisha Anderson
everybody
be accountby Greg Smith, a 33-year-old
Youthat
don’t
have to has
be atocar
In a competition with compa- Eminem, the star of 2011 ad.
Robinson alleged she had a
Free Press Staff Writers
banker for Goldman in London,
junkieable.”
to get a job at General nies such as Amazon, Facebook
months-long relationship with
“In the
case ofinnovaBenton Harbor,
Motors’ new
software
and General Electric, GM will
Candidates for Detroit’s next the chief. It was the second time
was a shot from within Goldtion center
in had
Warren,
but a
you
forit recent college gradupolice chief will be asked a Godbee was accused of having
the city
reached
pointfight
where
man’s ranks.
might fundamentally
have to be a coding
guru
ates and experienced software
touchy question during the se- an affair with a subordinate durran out
of money,”
In an Op-Ed article for the
— andhe
software
experts
are in professionals
with an eye to- THE UNTOLD STORY
lection process: Have you ever ing his two years as chief.
said, leading
to appointment
of a
New York Times, Smith said the
short supply.
ward reducing its digital buHis predecessor, Warren Evhad an intimate relationship
manager.
bank sells financial products
GM announced
Monday
that ran
reaucracy.
ans, was forced to resign, in
with a subordinate?
Just as Benton
Harbor
out of
“that
we areICONS
trying toREMEMBER
get rid of.”
DETROIT
MUSIC
‘BANDSTAND,’ NEW YEAR’S EVE STAR. 5A
it plans to add 1,500 software deThe new hires will work to
The questioning is designed part, because of his relationship
cash in March 2010, Detroit stands
“It
makes me ill how callousvelopment and data manage- radically simplify, combine and
to avoid a sex scandal like the with the same lieutenant Godon the
of the same
ly people talk about ripping
ment jobs
atbrink
its Warren
Tech debacle,
improve the automaker’s nuone that forced Detroit Police bee had been involved with bethe same
their clients off,” Smith wrote.
Centerfor
as part
of its reasons.
effort to in- merous software
Chief Ralph Godbee Jr. to im- fore being appointed.
By applications
Zlati Meyer
O N
G U A R D
F O R
1 8 0
Y
“We
a period
The essay was widely circusource 90%
of had
its IT
work. of time where
The Rev. Jerome Warfield,
mediately retire Monday, a
Free
Press
Business
Writer
See GM, PAGE 2A
PAGE 1C
officials
didthe
notautofiscally manlated online, and Smith became
Thepast
move
catapults
week after Officer Angelica
See CHIEF, PAGE 4A
age in a responsible way. And that
a trending topic on Twitter. But
eneral Motors’ new media-buying compaled to a very bad outcome which had
his charges were only the latest
ny is expected to bring an estimated 200
to be fixed,” Fettig said of Benton
embarrassment for Goldman,
Harbor. Ditto for today’s Detroit.
which has built a sterling repunew jobs to downtown Detroit.
Just as Granholm, as the state’s
tation over 143 years on Wall
Carat, which is owned by the LondonCEO, had to step up when Benton
Street.
Thursday 4.19.2012
www.freep.com ◆ ◆
headquartered Aegis Group, is opening
Harbor went bust — to ensure delivThe bank paid $550 million in
ery of basic services to people —
2010 to settle civil charges that it
an office on the 23rd floor of One Detroit
Snyder is duty-bound to do the same
misled investors while selling
Center.
in Detroit. If anything, the urgency
them investments in the U.S.
When the automaker was looking for a firm to
for Snyder is even greater, because
housing market as the bubble
of the damage that a Detroit default
burst — even as Goldman
handle its global media-buying, it wanted an agency
FATAL ATTACK ON FAMILY
and bankruptcy could do to credit
reaped hundreds of millions in
that would be located near its headquarters and be
ratings and stability of neighboring
profits with its own bets that
WWW.FREEP.COM FRIDAY, “part
MARCHof
23,the
2012
◆ of the city,” in GM marketing
cities and counties.
fabric
housing prices would fall.
Four months after Granholm
A congressional committee
chief Joel Ewanick’s words.
interceded in Benton Harbor, Fetrecommended that law enforce“We think it’s even more important to show this Carat employees can see the GM headquarters from their office
tig’s Whirlpool stepped up with an
ment authorities look into a sespace on the 23rd floor in the One Detroit Center building.
$85-million commitment to put its
commitment right now,” Ewanick said. “We know
Tucker Cipriano, 19, and Mitchell Jor- ries of deals that Goldman sold
her
tax Wednesweb page
for advice,
forms
new headquarters campus and 1,200
while executives
derided
them and the
danCheck
Young, 20,out
pleaded
not guilty
what it’s like to have friends come and help us when solvency.
to 1,400 workers in downtown Benday to murder charges. They are accused in e-mails as “junk,” “crap” and
we’re going through hard times, and we want to be
latest
tax help
news.
to freep.com/taxtips
But Martin Cass, president
of Carat
Global
Manton Harbor.
of attacking
Cipriano’s
family
with a Goanother
profane adjective.
bat and killing his father. 6A
Without some indication that
And last month, a Delaware
that kind of good citizen right now. We understand agement, who oversees baseball
the Detroit
office, is hopeBenton Harbor’s dysfunctional
court
nearly
blocked
a
merger
how much work this is, fixing the city. We’re not go- ful.
government was on the mend, would
between Kinder Morgan and El
ing to wilt away from that.”
“There’s definitely a sense of buzz, a sense of reWhirlpool have chosen that site?
Paso, two energy companies, beThe company certainly didn’t
cause Goldman had ties to both
This comes as Detroit’s financial crisis comes to vival,” he said. “I hope PANETTA
the political
elements get
APOLOGIZES
have to: It could have expanded next
companies, raising questions
a
head,
amid
a
faceoff
between
Mayor
Dave
Bing
sorted
out,
and
we
can
all
get
on
with
life.”
313-222-8765
door in
St. Joseph. Heck,[email protected]
it could
about a conflict of interest.
Scandal erupts over
and Gov. Rick Snyder over the best path to restore
easily move headquarters 90 miles
“This is the latest entry into a
❚ CARAT TO HANDLE ALL MEDIA-BUYING.
6B trophy photos
bloody
to Chicago, where Whirlpool already
See BANKER, PAGE 6B
Saying war can lead young troops to
has a swell product showplace
“foolish decisions,” Defense Secretary
downtown.
Leon Panetta apologized Wednesday for
Fettig remains upbeat about
gruesome, newly revealed photographs
Benton Harbor’s outlook.
that show U.S. soldiers posing with the
“Whenever they do make the
bloodied remains of dead insurgents in
transition back to elected official
Afghanistan. 11A
management … ,” he said, “I’m sure
In some cases — when
If a third party reports
he last thing any taxpayer
the city will be stronger than it’s
several
types of stock sales
what an investor paid for the TALKING
wants to hear about is yet
WITH THE TROOPS
been in a long time.”
have been made in a year —
stock, it could be harder for a
another new tax form. But if
surprise
Snyder, to this point, has tried to
somemakes
taxpayers
couldvisit
even
taxpayer to underestimate theSnyder
you sold stock in 2011, get
enlist Detroit’s elected leaders in a
GREEN LEADERS
have
to Snyder
fill outmade
six Form
8949s
taxable gain on a stock sale.
ready for a brand-new headGov.
Rick
an unanto visit troops in Afghaniconsent agreement whereby they
in atrip
year.
A key change this tax sea- nounced
ache called Form 8949.
BREAKFAST
Over the last 18 months, al- choose from 41 small car models
That’s lower
than the 15.0 IN MARCH,
LMC
saying
could claim some role in saving the
Yes,and
“sixGermany,
of them,”
saidit was
son: An investor who acquiredstan, Kuwait
In the past, you’d just work
SUSAN TOMPOR SAYS IRS
Themost
Detroitevery
Free Pressautomaker
Michia wayLeslie
to thank
U.S. servicemen
and womhas in- in the U.S. market compared
million ratestock
for inFebruary,
city’s financial ship, even as they
Welbourn,
tax manager
2011 and soldbut
it before
through a Schedule D to deal
TO
GET
BETTER
HANDLE
ON
gan Green Leaders awards
en and to discuss waysIS
to improve
their
AUTOMOTIVE
PREDICTING
surrender
significant
control.
for Doeren
Mayhew
in Troy.
end of
2011 will see that job prospects
with theindustry
profits or losses
retroduced a new or redesigned with just 30 back in 2007.
the
third-straight
analysts
expected at would be the
By Brent
Snavely
when
they return
home. 6A
breakfast will be at 8 a.m. April
ACTUAL
PROFIT
If Bing
and
councilWriter
refuse, SnyBest bet: Look at the 1099-B
reported the cost
sulting from
sellingof
stock.
HENDERSON/DETROIT
FREE PRESS
The U.S.JARRAD
housing
market,
car,Detroit.
and the industry
million.
the start
2012, when analysts month abovethe14broker
Free
Press
Business
27 atcompact
the MGM Grand
AN
ANNUALIZED
SELLING
der must do as Granholm did with
forms that arrive from brobasis for the securities in Box
Beginning in the 2011 tax
President
Barack
Wednesday at the Henry Ford Museum. Obama, seeking to raise $1 milTickets
for the
annual
eventspeaks
are features
overall
is Obama
offering
on meanwhile, is only starting to
test1099-B.
for the inwereyou’re
predicting
less
Benton Harbor and impose a new
kerage firms very carefully.
3 of Form
ting aof
better
handle onBut
an the real
year, though,
also going sales
lion during his visit for his re-election bid, touted his rescue of Chrysler and General Motors.
$40 per
person,
and tables
of 10
OF 14.1
those
cars
previously
reserved show signs of a recovery, which
dustry will come
the spring
than
14 Form
million.
For automakers,
commander
to right the ship. 2012 looks
have toMILLION.
know what
Theover
new Form
8949 re- RATE“You
investor’s actual profit.
to need to
fill out
8949
can be reserved. For more
But ifitthat
was to get
hungexpectquires
you to carefully
enter a you’re looking for and how to
Under
the changes,
with that Schedule
D. for the first
means
pickup
sales
are
unlikely
for
larger
cars.
andthe
summer,
Schuster
said, as
“Results
quarter
like
willmove
be better
than
information about the honorup for months or years because of
read a broker’s
statement,”
variety
of codes. confiInternal
Formof
8949
is for
“Sales and
Higher
prices
aren’t hurtingees or theExamples
to outpace industry growth.
gas prices test
consumer
2012
suggest
that the
yearRevenue
will Service
ed — at least in the U.S.
event, go to include the Chevlawsuits or ballot proposals, why
Welbourn said.
What’s worse, though, is
would have more information
Other Dispositions of Capital
With higher gas prices, and
rolet Cruze, Fiator 500, Ford Fodence
in auto sales yet, Schuster said, butmichigangreenleaders.com
expectaconsumers
are
on pace
would U.S.
businesses
invest more
monthatpolicymakers
it’s possible some taxpayabout
what an investor
paidand as
Assets.”be better than current
❚ EVERYDAY INVESTORS TO
eyto
and
locate
thousands
of jobs innew cars
are affecting
what peoplewww.facebook.com
cus, Honda Civic, and Hyundai more choices, the overall share
that
contitions,”
said Jeff
senior
buy
about
1.4 million
erscontain
would need
to file
more they
for a stock
throughEurope
a third- try to
The extra
reporting
is Schuster,
REPORT
MORE WITH NEW
/michigangreenleaders.
Detroit,
as Whirlpool
doing in or about
than one 8949 in a given tax are FORMS.
party verification
of the cost
designed,
naturally,
to gener6B
buying.
of small cars in 2012 could climb
Elantra and Veloster.
debt crisis.
vice
president
of forecasting
at nent’s
and trucks
in isMarch,
Benton Harbor?
year.
of the asset.
ate extra tax revenue by get-
State battleground again as challenger sways undecided voters
1,500 new jobs at GM: Here’s
what automaker is looking for
High-tech positions
may be tough to fill
Goldman
under
scrutiny
Past questions
about bank revisited
Next Detroit police chief candidates
will be asked about relationships
GM’s media-buying firm
CARRIED MOTOWN
to bring 200 jobs to cityCLARK
TO NATION’S LIVING ROOMS
Sex scandal forces
Godbee to retire
DETROIT 4, K.C. 3
TV LEGEND DIES AT 82
Cabrera, Fielder
finish up sweep
of Royals
Business
$1.00
50% OFF
A POP ROCK
MANI/PEDI AT SHE
SALON & BOUTIQUE
IN SOUTHFIELD
DETAILS, 2A
How Eminem’s
Bowl ad
AGENCY Super
TO BEtogether
‘PART OF THE FABRIC’ OF DOWNTOWN DETROIT
came
G
at the last
minute
12A
x
BUSINESS
Metro
◆
THE BATTLE FOR DOLLARS
ACCUSED SON,
FRIEND PLEAD
NOT
GUILTYTOMPOR’S
SUSAN
x
TAX TIPS
GET TIPS FOR FILING YOUR TAXES
Afghanistan
LIVE CHATS WITH INDUSTRY TAX EXPERTS
DOWNLOAD AND PRINT TAX FORMS
2012 vehicle sales may top expectations
Sell stock? Get ready for new tax form
T
Higher gas prices not hurting them yet
6% more than in the same month
last year.
That would put the industry
on pace to sell14.1million for the
year, which is higher than most
LMC Automotive.
In March, LMC Automotive
is predicting an annualized selling rate of 14.1 million cars and
trucks.
On Thursday, the average
price for a gallon of gas was
$3.88, or 33 cents higher than a
year ago, according to AAA’s
Fuel Gauge Report.
Through the first 18 days of
March, subcompact and compact cars accounted for approximately 23% of retail sales in the
U.S.
President touts record
at metro fund-raisers
“I think the styling in many to its highest level ever, at nearcases is more appealing and the ly 20% of industry sales, Schuspaign against presumed Republican
CAMPAIGN 2012
said.
content has increased,” Schuspresidentialter
nominee
— and Michigan
native — Mitt Romney.
Romney:
ter said.
❚ CONTACT
SNAVELY:
313-222-6512
“When you
decidedBRENT
to support
a
President Barack Obama charmed
Obama didn’t
consumers
can OR
[email protected]
named
Barack Hussein
two Today,
groups of Michigan
friends candidate
By David Jesse and Kathleen Gray
Free Press Staff Writers
Wednesday, praising their willingness
Obama, you know it’s not going to be a
deliver on
SPORTS, 1C
E A R S
Michigan rebound
JOBLESS
RATE IS
LOWEST
SINCE ’08
Auto industry drives
recovery; survey says
firms ready to hire
By Katherine Yung
and Susan Tompor
Free Press Business Writers
The good economic news has been stacking
up for Michigan.
On Wednesday, the state reported that the
unemployment rate fell to 8.5% for March, a
level not seen since August 2008 and down 2 percentage points from a year ago.
The jobless rate in metro Detroit fell to 9.4%,
down 2.3 percentage points from a year ago.
“It’s going in the right direction,” said Robert
Dye, chief economist at Comerica Bank.
And a PNC Bank survey of small companies
in Michigan found that 35% plan to hire fulltime or part-time employees sometime in the
next six months.
But companies also reported that they expect to seek higher-skilled employees than in
the past, which could be a problem with the auto
industry already unable to fill a growing number of technical jobs because of a lack of qualified workers.
Still, worker rolls have increased across various industries, with the U.S. Bureau of Labor
Statistics reporting 22,000 more workers in
southeast Michigan this year than last year.
ATTRACTIONS
n Metro Detroit hosts year round quality entertainment
featuring live music and theater performances at the
following venues:
• Fox Theatre
• Fisher Theater
• Detroit Opera House
• Music Hall
• Masonic Temple
• Cobo Hall
n Metro Detroit is the home of state of the art sports arenas:
• Comerica Park home to the Detroit Tigers
• Ford Field home to the Detroit Lions
• Joe Louis Arena home of the Detroit Red Wings
• The Palace of Auburn Hills home of the Detroit Pistons
n The Detroit Zoo has 125 acres of wildlife attractions
including one of largest polar bear exhibits, a kangaroo walk,
and animals feeding.
n The Detroit Institute of Arts, Detroit Science Center,
Detroit Zoo, and Detroit Historical Museum house several
exhibits and attractions.
n The Woodward Dream Cruise held annually the second
weekend in August draws over 1.7 million people and
400,000 classic cars.
n North America International Auto Show held in January
at Cobo Hall welcomes 715,000 car enthusiasts to the event.
n Arts, Beats, and Eats brings in over 500,000 people on
Labor Day weekend and raises over $350 million for
local charities. It also brings in over $40 million for
the local economy by celebrating the diversity of artists,
musicians, and food in Metro Detroit.