We understand the desire to move swiftly – by June 1, 2010 according to the press. But this sale will have a long term effect on the residents of Detroit and Southeast Michigan. The commitments in the LOI are only for 10 years while a not-for-profit with its mission is forever. Rather than having the cash flow of the DMC remain in Detroit, a portion of the cash will be sent to Tennessee and after 10 years VHS is free to do with our community assets what VHS wants, based solely on their bottom line and not on the needs of Detroiters.
“This recognition is especially rewarding because it comes during one of the most challenging economic development environments in decades,” said Matt Kisber, commissioner, Tennessee Department of Economic and Community Development. “Tennessee’s ability to help companies with projects by reducing red tape, finding answers quickly and developing partnerships with local communities has been a key differentiator for our state.”
Spring Hill transfers will be offered jobs based on seniority, said GM spokeswoman Kim Carpenter. But the Tennessee plant isn't the only site sending displaced workers to Delta Township. About 70 entry-level employees were laid off in Delta Township a month ago and another 69 low-seniority workers will be idled this week because of labor contract provisions that allow workers from other plants with greater seniority to transfer to sites with job openings, said GM spokeswoman Heidi Magyar.
So come on up. Economic necessity has made us a land of opportunity. You could be getting in on the ground floor -- make that the basement -- of a radical reinvention. It may not seem like it right now, but trust us, in five years, you'll be blown away.
National Health Investors has acquired four assisted-living centers in Michigan and another in Illinois for about $28 million. The seller, Kansas-based Bickford Senior Living, is leasing back the buildings for 15 years. NHI (Ticker: NHI) has shelled out nearly $90 million on acquisitions so far this year.
Michigan's congressional delegation also lobbied heavily to bring the small car to the state. All 17 members sent a letter to GM last week saying that the state's economic woes made the project important for Michigan. Peters had begun a "Make it in Michigan!" campaign that collected over 28,000 signatures.SEE ALSO: The dejection and frustration in Wisconsin, where one union rep says, "In my mind, it didn’t matter what we brought to the table. Janesville did all it could do, and the people on the task force really busted their butts trying to get something here, but GM is trying to move everything to Michigan."
POSTDATA: WARRANTY DEEDS