  Gistok Member Username: Gistok Post Number: 3784 Registered: 08-2004 |
Ralph W. Babb Jr. is the name that I saw today while thumbing thru the Freep. It says that he's the Chairman of Detroit Renaissance as well as the CEO of Comerica.... WHOA!!!!!! Do we really want this guy heading up Detroit Renaissance, if he takes his HQ to Dallas? I mean what exactly is he promoting here in Detroit?? Not our city!? | ||
Scottr Member Username: Scottr Post Number: 380 Registered: 07-2006 |
Yeah, no kidding. he needs to step down, at least from the chairmanship. | ||
Lmichigan Member Username: Lmichigan Post Number: 5204 Registered: 10-2003 |
Here are Detroit Renaissance's contacts: info@detroitrenaissance.com 313.259.5400 http://www.detroitrenaissance. com/ A letter campaign, maybe? | ||
East_detroit Member Username: East_detroit Post Number: 1011 Registered: 11-2003 |
Let' all go have a beer at Compuware Park and discuss this during the game. | ||
Jeduncan Member Username: Jeduncan Post Number: 57 Registered: 11-2006 |
What a contradiction. Bastard. | ||
Thejesus Member Username: Thejesus Post Number: 721 Registered: 06-2006 |
yes, I think he should step down, and he probably will... but I want him to for practical reasons, and not because I hate the man like all of you...you're all just interested in punishing him and think that this will somehow land a blow on him...incredible Detroit has only itself to blame if it can't attract/retain businesses... | ||
Dialh4hipster Member Username: Dialh4hipster Post Number: 1948 Registered: 11-2004 |
KILL HIM!!! | ||
Scottr Member Username: Scottr Post Number: 383 Registered: 07-2006 |
thejesus, no one's saying this is about punishing him or anything like that (okay, maybe dialh4hipster is) - this IS about practicality. For a group who 'brings the business community’s leadership and resources together to encourage and facilitate the physical and economic revitalization of Detroit and Southeast Michigan,' to have the Chairman's company run out of town the way they are is unacceptable. Comerica has announced in a very public way that it is Detroit's fault they can't attract talent, and didn't even give our own leadership the opportunity to help out. If he truly took this position seriously, he would have gone to Granholm and Kilpatrick with the company's concerns, explaining that his company is very seriously considering moving out of state because of them, and possibly not only kept his company here, but brought others here as well. Instead, he ran. That is not the sign of someone who deserves to be head of a group like Detroit Renaissance. | ||
Southwestmap Member Username: Southwestmap Post Number: 736 Registered: 01-2005 |
I agree, Scottr. Its contemptible, shameful that Babb, who was courting Dallas at least long enough for Dallas to come up with a substantial funding offer,wouldn't meet in an executive session with the Mayor of the city from which he was withdrawing his corporate headquarters and explain the action. I bet Doug Rothwell, CEO of Detroit Renaissance and formerly head of the Michigan Economic Growth Corp. was blind-sided, as well. | ||
Genesyxx Member Username: Genesyxx Post Number: 686 Registered: 02-2004 |
Can't exactly contribute to Detroit's Renaissance in Texas, can he? I'm sure he'll resign real soon. | ||
Bobj Member Username: Bobj Post Number: 1760 Registered: 11-2003 |
It is very hypocritical of Babb to being the leader of DR and working on an effort to move his corporate HQ out of town. Maybe it is the right thing for Comerica - I don't know, but we need a Detroit booster in the DR role. | ||
Thnk2mch Member Username: Thnk2mch Post Number: 794 Registered: 02-2006 |
One of the recent articles stated he would resign form this position. I will link it if I find it. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 508 Registered: 01-2005 |
Scottr: My guess is Babb did not confer w/ Granholm, Kwame et al before electing to move is that he knew it would be like talking to a wall. Not necessarily that they wouldn't listen, but because he knows that they are powerless to change MI's economy at this late date and w/i any reasonable time frame, even if they knew how...and they don't. He as do many if not most business people in MI view MI as Humpty Dumpty; "all the Kings horses and all the Kings men yadda yadda yadda." | ||
Lmichigan Member Username: Lmichigan Post Number: 5205 Registered: 10-2003 |
Yeah, Michigan is hopeless/doomed/(insert predictable, hyperbolic, negative adjective), yadda, yadda, yadda...Please, leave, then. We wouldn't want the sky to fall on you, too. Get out while you still can, please. (Message edited by lmichigan on March 12, 2007) | ||
Mind_field Member Username: Mind_field Post Number: 700 Registered: 10-2003 |
Lol @ dialh. | ||
Southwestmap Member Username: Southwestmap Post Number: 737 Registered: 01-2005 |
"he knew it would be like talking to a wall" There is still a manly, business-like way to do things and there is a sneaky shame-filled way to do things. Regardless of the response Babb may have anticipated or assumed, he was contemptible in his handling of this. Also, he was sneaking around in a very detailed deep-cover way in Dallas. Dallas did not just come up with that economic package on the spur of the moment and out of the blue. | ||
Buyamerican Member Username: Buyamerican Post Number: 2 Registered: 02-2007 |
http://www.detnews.com/apps/pb cs.dll/article?AID=/20070312/N ATION/703120321/1020 Comerica moving to Dallas, big business moving out of Dallas. Poetic justice. | ||
Lmichigan Member Username: Lmichigan Post Number: 5206 Registered: 10-2003 |
Dallas isn't Houston, but maybe you meant Texas. But, yeah, when you're racing to the bottom of the barrel, no one can do it better than tax havens. These places are beginning to be beat at their own game by places able to offer even lower, or even no, taxes. Dubai is the new Switzerland, without the history or class. lol | ||
Buzzman0077 Member Username: Buzzman0077 Post Number: 16 Registered: 11-2006 |
I think that we need to remember that regardless of his support and dedication to the revitalization of Detroit we have to remember that he has to do whats best for Comerica first. I'm not happy that he is taking the corporate HQ and 200 employees out of the region, but the economics dictate it. If this move enables Comerica to stay independent and continue to grow it will help to maintain the much larger portion of jobs they are leaving in Detroit. Which I think is better for us in the long run. Even if it is a huge hit to our regional pride. | ||
Tompage Member Username: Tompage Post Number: 8 Registered: 01-2005 |
Has anyone compiled a list of banks that are headquartered in the City of Detroit? Or at least have their regional offices in the City. | ||
Buzzman0077 Member Username: Buzzman0077 Post Number: 19 Registered: 11-2006 |
I think someone said that Comerica was the last big bank to be HQ'd in Detroit. In the Comerica leaving post. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 511 Registered: 01-2005 |
Buyamerican/Lmichigan: You're wasting your time gloating. Don't rely in the DetNews. See the story in today's WSJ, wich is accurate. Hallibuton is NOT moving to Dubai. Lesar is moving there and Hallibuton will remain headquartered in the U.S. Lesar is going to be the chief salesman/marketing guy for the company which is way behind other multi-national oil field service service companies in marketing to the middle east and Asia. North America is a mature oil producing area w/ a declining share of H's world-wide business. It appears his move is more for convenience than anything else. I was a Halliburton customer in TX for quite a while in the early to mid-90's but it became so expensive and so short-staffed in our area that I switched to local companies who were not only cheaper but just as qualified (many owned and run by former Halliburton employees.) Nevertheless, you can expect to find an increasing number of companies shifting their emphasis to foreign expansion and many will move their headquarters to other countries. The U.S. is in decline just as is MI. | ||
Bobj Member Username: Bobj Post Number: 1767 Registered: 11-2003 |
3rdworld NPR and MSN are reporting that Halliburton's HQ is going to Dubai? Are you sure of your version?? | ||
Iheartthed Member Username: Iheartthed Post Number: 493 Registered: 04-2006 |
No... the Halliburton HQ is going to Dubai. The staff is staying here. You know, leave the cheap labor behind where it's cheaper to house them? As the WSJ insinuated last week with Comerica HQ going to Dallas and the staff staying behind in Detroit. | ||
Iheartthed Member Username: Iheartthed Post Number: 494 Registered: 04-2006 |
I think Chase's regional office is still in Detroit. | ||
Thnk2mch Member Username: Thnk2mch Post Number: 795 Registered: 02-2006 |
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. Has corporate headquarters in New York and U.S. consumer and commercial banking headquarters in Chicago http://www.jpmorganchase.com/c m/cs?pagename=Chase/Href&urlna me=jpmc/about | ||
Iheartthed Member Username: Iheartthed Post Number: 495 Registered: 04-2006 |
I said "regional". | ||
Rhymeswithrawk Member Username: Rhymeswithrawk Post Number: 386 Registered: 11-2005 |
Should Comerica Chairman Resign as Detroit Renaissance Head? Absolutely. He should have been ousted already. | ||
Trainman Member Username: Trainman Post Number: 357 Registered: 04-2006 |
YES With 200 fewer jobs in Michigan, it will hurt all of us. So please have compassion and understand that it is not money that is important but to treat others with respect and dignity and always help your neighbors and to follow the golden rule by treating others the way you want to be treated. So, let's all work together and fight the Michigan Department of Transportation BILLION dollar freeway in downtown Detroit together by all standing together and filling up all the SMART and DDOT buses. Then all the wheelchair lifts will be fixed and also this will help the city of Detroit. Detroit needs the help of the suburbs and the suburbs needs Detroit, so please let's all join together in this forum and bring back Michigan and jobs. http://savethefueltax.tripod.c om/theplan.html | ||
Mayor_sekou Member Username: Mayor_sekou Post Number: 598 Registered: 09-2006 |
^^^LOL. | ||
Johnlodge Member Username: Johnlodge Post Number: 246 Registered: 10-2003 |
Do you really think Babb just up and decided to move Comerica's HQ? And so off they went? My guess is that more likely, the board decided that's what was going to happen and there wasn't jack Babb could do about it, regardless of his opinion. Don't put so much credit in CEO's. They get paid too much for what they do, they get credit for too much of what they they do, and they get blamed for too much of what they do. | ||
Lmichigan Member Username: Lmichigan Post Number: 5225 Registered: 10-2003 |
You don't have to believe he schemed this move to know that he shouldn't any longer be the head of Detroit Renaissance. | ||
Johnlodge Member Username: Johnlodge Post Number: 247 Registered: 10-2003 |
No, I agree Lmichigan. I just don't think the man should be labeled the worst anti-Detroiter in history because his company moved its HQ. If they continue to sponsor Tastefest, and other events and improvements in the city, even with an HQ in Detroit, they aren't that bad. We'll have to see. If some company that was never HQ'd here started sponsoring our events and putting money in to the city, we wouldn't mind so much. I'm still plenty mad at Comerica for doing this, but this thread was getting very anti-Babb, as though it was all his idea. | ||
Scottr Member Username: Scottr Post Number: 395 Registered: 07-2006 |
Just to clarify my previous position - I would love to see him still involved in Detroit Renaissance - other non-Detroit companies are, including pfizer, AT&T, fifth third bank, and chase. Any and all involvement from these companies is welcome. I just don't feel he should be the chairman after moving the company out in such a way. johnlodge - As for who decided what within Comerica, before absolving Babb of any responsibility to place the blame on the rest of the board, you may wish to look at who is on the board of directors first. To start, Babb is not only the President and CEO, but the Chairman of the Board - hardly a powerless position. Other people on the board are from Detroit area companies like Masco, Pulte, DTE, Taubman, and Lear. So who would have made the decision to move to Dallas? I'm willing to bet this started with the higher executives within the company - NOT the rest of the board. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 526 Registered: 01-2005 |
Scottr: Why would you bet on something like that? | ||
Scottr Member Username: Scottr Post Number: 396 Registered: 07-2006 |
figure of speech, i don't actually gamble. I'm merely saying that i don't agree with johnlodge's assessment that it was most likely the board leading the charge. If I was cynical, I would say it's the executives that wanted to move to warmer weather. the board is still stuck here at their day jobs. Less cynically, the board doesn't handle day to day operations. Recruitment is mostly handled within a company, not by the board of directors. CEO searches and such are an exception, but that's not who they are trying to recruit. Don't take it as absolving the board of responsibility, they would have had to agree with this. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 529 Registered: 01-2005 |
Bobj: Responding to your post # 1767; my source was a WSJ article, which I had already tossed. However, on pg A8 of today's WSJ Halliburton points out that in its original announcement it stated Dubai would be "a" corporate headquarters but it has since stated unequivically that Halliburton will "remain a U.S. company with its main office in Houston." (Message edited by 3rdworldcity on March 14, 2007) (Message edited by 3rdworldcity on March 14, 2007) | ||
Johnlodge Member Username: Johnlodge Post Number: 251 Registered: 10-2003 |
Interview with Ralph Babb by Paul W. Smith. http://wjr.com/Article.asp?id= 363855&spid=6521 (Message edited by johnlodge on March 14, 2007) | ||
Queensfinest Member Username: Queensfinest Post Number: 58 Registered: 08-2006 |
1. This douchebag Babb should probably avoid showing his face in Michigan. 2. However, many growing Texas cities are no longer in many ways the backwards places that I've seen them described as on this forum. There was an article about the city of Houston today in the Times. These places are cutting edge in a lot of ways and Detroit and Michigan could learn a lot from their models. Economically at least. http://www.nytimes.com/2007/03 /14/realestate/commercial/14Re al.html | ||
Lilpup Member Username: Lilpup Post Number: 1852 Registered: 06-2004 |
Nope. Houston won't stay like that for long. It's just in a boom cycle right now. Texas' dependancy on the oil/energy biz is worse than Michigan's was on autos. | ||
Bratt Member Username: Bratt Post Number: 511 Registered: 01-2004 |
Citizens Bank in Flint is now the largest Michigan Bank. They should really take advantage of that position. | ||
Lmichigan Member Username: Lmichigan Post Number: 5228 Registered: 10-2003 |
Just because they are now the largest bank, doesn't make them anything more than what they are right now, and that's a regional bank. What are they supposed to take advantage of, and how? | ||
Queensfinest Member Username: Queensfinest Post Number: 59 Registered: 08-2006 |
Lilpup, Houston's dependance on energy is by no means worse than Detroit's was and continues to be on autos. First of all the culture prevalent in Detroit, still , has been one that failed to stress the importance of education in favor of some backwoods idea that anyone and everyone could get a high paying unskilled job in an auto plant. This is not the culture in Houston. The article mentions that the only other place with more large companies is New York City. Houston is more comparable to NYC than it is to Detroit. Houston is a city with a diversified economy. They are leaders in areas such as finance, energy, alternative energy development, aerospace, science and technology, biotech, and computer related industries including major players like Dell and Hewlett Packard. The area has the largest medical campus in the country and probably three times as many college students per capita at much more reputable universities as does Michigan overall. Michigan has one university ranked in the top 50 in the country, a pretty poor stat for a state of 10 million. Their port is perhaps the largest in the country and serves an expanding region where people actually move to for a better way of life. Imagine that! I'm from NYC and I don't agree with a lot of what Texas represents, the sprawl, lingering attitudes, etc, but I don't think you can argue that as of today, cities like Houston are far more progressive, diversified, and successful economically than places like Detroit. | ||
Queensfinest Member Username: Queensfinest Post Number: 60 Registered: 08-2006 |
Plus, they don't have to deal with shitty winter weather. That's a plus. | ||
Lilpup Member Username: Lilpup Post Number: 1854 Registered: 06-2004 |
quote:What's your Detroit connection? | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 533 Registered: 01-2005 |
Lilpup post #1852: "Texas' dependency on the oil/energy biz is worse than Michigan's was on auto." How can you be, post after post, so absolutely clueless? (Sorry, Gistok.) Based on your grammar etc you appear to be intelligent, so I guess you knowingly spew the above nonsense on purpose, to see who'll bite. I've operated very profitable oil/energy businesses in TX for 17 years, and had real estate interests before that. TX is by no means as "dependent" on energy as it was 20 years ago. TX business is widely diversified, including aerospace, computers, agriculture, chemicals, manufacturing, banking and finance, and medicine. [The largest employer in TX is the Texas Medical Center in Houston. It has 73,000 employees, 45 member medical institutions including 14 world leading hospitals, several medical schools with 22,000 students, $3.5 BILLION of medical research from "00 to "04, 6,000+ beds etc ad infinitum.] Based on your posts I am convinced you have a closed mind on a variety of subjects. You appear to work at it. So, I'm probably wasting bandwidth, but why don't you check out the TX website at http://www.state.tx.us/ Better yet, go to http://www.bidc.state.tx.us/50 state/result.cfm for a comprehensive heads-up comparison of TX and MI in about 100 categories. MI even excels in some categories, not many. Then, if you have even an inkling of how business operates, you'll wonder what took Comerica so long to concentrate its future growth in that state. You'll probably want to join them. | ||
Lilpup Member Username: Lilpup Post Number: 1855 Registered: 06-2004 |
LMAO somebody's hat's too tight Houston's not going anywhere that a slew of other cities haven't already been | ||
Gistok Member Username: Gistok Post Number: 3804 Registered: 08-2004 |
LOL at 3WC...  Um with Comerica moving to Texas, I take that to mean that eventually some of those Michigan Directors who voted for the move will not be renominated for their director posts... after all Mr. Babb will want to change the board to more reflect their new location with sunbelt directors. Am I wrong? | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 534 Registered: 01-2005 |
Lilpup: Brilliant response. Why not address the issues? The second site I posted above doesn't work. Try http://www.bidc.state.tx.us/50 state Use the drop-down menu to select MI and check all the boxes beneath it. You will learn not only more about TX but you'll learn more about MI than you knew before. GUARANTEED. It's very informative. Gistok, you're usually pretty erudite and reasonable. Why don't you check out the site, give your opinion, and suggest Lilpup do the same. Then maybe there can be some rational discussion on this thread and maybe someone can come up with reasonable proposals about how to improve MI. That site's a roadmap. And the TX state website posted above is well worth exploring. Very impressive. | ||
Queensfinest Member Username: Queensfinest Post Number: 61 Registered: 08-2006 |
Lilpup, I lived in Detroit for most of the 90s and have a degree from Wayne State. I still visit several times a year since some of my family lives there. |
