Sparty06 Member Username: Sparty06
Post Number: 94 Registered: 03-2007
| Posted on Saturday, April 26, 2008 - 5:18 pm: | |
Here's an excerpt from the article and a link to the article on the WSJ webpage. "Although few believe that Mr. Kilpatrick can – or should – hang on until the end of his term next year, there is also much worry that, without him, his economic reforms will wither. That, actually, wouldn't be such a bad thing. Mr. Kilpatrick's entire economic revival plan rests on attracting high-profile, flashy projects. True, he has been more successful than his predecessors because of his wily ability to cut deals and push them through a dysfunctional city bureaucracy. For instance, he managed to land the contract to host the 2006 Super Bowl and convince General Motors, Compuware and, more recently, Quicken Loans Inc. to relocate their offices downtown. He also succeeded in creating three casinos, and in convincing developers to restore old, historic hotels such as the Book-Cadillac to serve the casino patrons. Mr. Kilpatrick lured each of these projects with targeted tax breaks and subsidies. Quicken alone received $200 million. But corporate giveaways are not the stuff of an economic revival. "If anything, they put small businesses, the true drivers of the economic engine, at a competitive disadvantage," observes David Littmann, senior economist at the Mackinac Public Policy Center. As a result, he says, "Many of them either shut down or just don't open." Indeed, every indicator of economic and civic renewal has trended in the wrong direction since Mr. Kilpatrick became mayor. There is not a single year in which Detroit's unemployment rate – currently at about 15% -- has been lower than in 2001, the year before he took office. Income tax revenues last year were $27 million less than three years ago, a testimony to the city's contracting tax base. Meanwhile, high school graduation rates are an abysmal 25%, and homicide rates an astronomical 47 per 100,000, the highest among comparably sized cities. The lack of jobs and city services is accelerating the exodus out of Detroit. A recent study by the Southeast Michigan Council of Governments estimated that, if current trends continue, the city's population will shrink to 770,000 in seven years, from about 900,000 when Mr. Kilpatrick became mayor. Breaking the vicious cycle of shrinking population, declining revenues and worsening city services requires not a young prince selectively handing out privileges to a chosen few. It requires an overall climate fit for business. To do that, Detroit needs to simplify its Byzantine regulations (home-businesses such as day care centers or hair-braiding salons require 70 building or equipment permits to get started), slash taxes (Detroit is the fourth highest-taxed city for a family of four making $25,000), tackle crime, and improve public schools. These are mundane, boring tasks to which a high-roller like Mr. Kilpatrick is singularly unsuited. His departure won't guarantee Detroit's economic revival. But, if he stays, Detroit will have no reason for hope, either" http://online.wsj.com/article/ SB120916727098046281.html?mod= opinion_main_commentaries |
Spiritofdetroit Member Username: Spiritofdetroit
Post Number: 926 Registered: 11-2006
| Posted on Saturday, April 26, 2008 - 5:19 pm: | |
Kilpatrick got the super bowl, compuware, and gm downtown?? HAHAHAHAH Wall Street Journal. wow |
Livernoisyard Member Username: Livernoisyard
Post Number: 6030 Registered: 10-2004
| Posted on Saturday, April 26, 2008 - 5:21 pm: | |
Second thread on this... |
Andylinn Member Username: Andylinn
Post Number: 827 Registered: 04-2006
| Posted on Saturday, April 26, 2008 - 9:12 pm: | |
looks like someone's intern didn't research too well... even though, with those mistakes aside, they make a valid point... BUT... fail to bring the criticism into the context of the michigan economy. as the french would say: Par Example: Unemployment has risen under kilpatrick? is that REALLY something the mayor can control... NO... |
Paulmcall Member Username: Paulmcall
Post Number: 947 Registered: 05-2004
| Posted on Sunday, April 27, 2008 - 10:33 am: | |
Yeah, but he can control himself from ripping tax payers off. His economic plan is just a shell game to get him to the next election. How long will people believe his BS? |
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