Comments on: Column: Balanced Offense for Local Economy

By: FRIDGEMAN

FRIDGEMAN — Tue, 01 Dec 2009 18:42:04 +0000

John Floyd, that is exactly my point. If government funding did ever run dry (hopefully, that is an imponderable much like what happens when the Sun runs dry, or becomes a red giant, or whatever), the Ann Arbor area would no longer be a place with residents who could buy that $15 sandwich JCP2 mentioned. The fact that so many places like Zingerman’s thrive shows that we are already (indirectly) leveraging government programs to spur the short running game Ms. Morgan talks about.

By: John Floyd

John Floyd — Tue, 01 Dec 2009 08:01:47 +0000

@ Fridgeman, your point that “We are al living out one giant government project” suggests that Ann Arbor’s economy is not real, in the sense that what we offer the world (Edu + Health Care) has not stood the test of the market, and cannot stand without funds taxed from places that do have market-driven economies. Should government funding run dry, what will we have here?

By: vicki honeyman

vicki honeyman — Tue, 01 Dec 2009 01:46:00 +0000

Great article Mary….I completely agree.

By: FRIDGEMAN

FRIDGEMAN — Sun, 29 Nov 2009 03:27:06 +0000

I agree, a good article.

In my opinion, JCP2′s comments are very important to understanding the degree to which the model which Ms. Morgan espouses will work elsewhere. It’s the education and health care industries in the area that provide well-paying jobs and attract the kinds of people who will purchase that $15 sandwich. Since those industries are essentially taxpayer-funded, we are all living out one giant government project.

By: Bob Dascola

Bob Dascola — Sat, 28 Nov 2009 14:58:52 +0000

Bravo Mary!!!!! Well done, THANKS!

By: Gary Salton

Gary Salton — Sat, 28 Nov 2009 05:58:50 +0000

Great article, Mary. It is a valuable contribution to the thinking that must surround the actions of the various entities trying to rebuild Ann Arbor and the Michigan economy.

If I read it right, it sounds to me like the local businesses need an umbrella organization that is funded along the lines (but not necessarily in the same amounts) of Spark. This could give it the dedicated leadership needed for coordinated action. I suspect that this would not cost much since a lot of the pieces are already laying around (the various organizations you mention). Maybe we can call the organization “ART” (e.g., AnnArbor Recovery TaskForce) and take the money from 1% art allocation. A couple of hundred thousand dollars would probably do it and would not be much of a sacrifice in the art budget.

Thanks again for the article, Mary.

By: Robert Braun

Robert Braun — Sat, 28 Nov 2009 01:05:41 +0000

I like this article it got my attention on economics the section A higher-profile example is Zingerman’s, which might be a poster child for the local living economy. They’ve built a marquee brand that’s internationally known. They’ve had the opportunity to franchise – a model of scalability that would make even veteran investors drool. But they chose not to, in part because they felt the franchise approach would dilute the quality of their offerings.It is so true there is a restaurant in Detroit and the surrounding metroplitan area I am not sure if i am allowed to mention their name legally they used to be like baggerdaves they dilluted the quality of their menu that its not worth going anylonger hats off to Zingerman’s for staying true!!>

By: Mike Mouradian

Mike Mouradian — Sat, 28 Nov 2009 00:47:30 +0000

this is a very complex issue and you have been able to explain it in a short but complete way . Thanks for doing what a journalist does.

By: Stew Nelson

Stew Nelson — Fri, 27 Nov 2009 20:50:01 +0000

I think SPARK would agree with your message Mary. I spend several hours each month volunteering my time to help local entrepreneurs with business issues and most of the people I work with are not starting high tech businesses. Amy Cell from SPARK also has put together a program called Starting Your Own Business, SYOB. We have a least one of the meeting each month and most of the attendees are not looking to start a high tech business but are looking to “make” a job.

As a frequent panelist and coach I have worked with entrepreneurs that wants to sell branded religious trinkets at conventions, an inventor of a new traffic lights, a TV show promoter, an inventor that wants to make automated bathroom reminders to wash our hands, an IT consultant, a humorist that wants to distribute Scottish jokes on the Internet and many other ideas that would never be considered even Low Tech.

The program has become so popular that Amy is going to have two sessions each month in 2010. Contact Amy if you want to learn where and when the next SYOB will be held.

By: ken ludwig

ken ludwig — Fri, 27 Nov 2009 18:05:43 +0000

Between the spaces you,mention in addition to the food and agriculture industrie,s lies a vast area that is not often mentioned or understood. There are many thousands of regional companies that have customers, employees and momentum. They often do not have access or enthusiasm for new technologies to take them from older shrinking markets to newer growing markets or a full understanding of the available new media marketing and distribution channels. Additionally many of these companies have aging owners who would like a reasonable exit strategy. They are too small and not sexy enough for large private equity firms but making money and in need of another generation of entrepreneurs to acquire them and move them into the future. We have, where I work at the College of Engineering, more than 8000 of the smartest young people on the planet, many from Michigan, who would like to stay in Michigan where their hearts and history lie. Similarly other schools come to mind. There is great wealth in the region but its risk profile is different than the go-go bleeding edge tech investors on the other coasts. We make things here and we want to invest in companies led by people who make things that we understand. Satellite plants and high tech companies designed to be acquired have there place but having many of the 50,000 small companies in Michigan in new hands with their headquarters here has place yet to be acknowledged by the “usual suspects” in economic development. When I ask my students if they would like to acquire and run a company with $1-10 million dollars in sales and stay home, making six figure salaries and build equity rather than going off to work in Fortune 500 companies many both understand instantly the opportunity and a few start planning how to move forward. There are investment models working elsewhere that support this combination of small private equity acquisitions that fund entrepreneurs to find existing businesses to acquire. The successful search funds often find their deals . . wait for it. . . very near here. So why not support our own young venturesome people ourselves? If Stanford and MIT and Harvard can create thriving search funds are we less capable?