Detroit Bankruptcy and the Return of “Paris of the West”

Detroit Bankruptcy and the Return of “Paris of the West”

Unless you have been hiding under a rock you are probably well informed of the recent events in Detroit.

It’s a Bankruptcy, It’s not a Bankruptcy, It’s a Bankruptcy – WHAT IS IT?

IT IS OPPORTUNITY – THAT IS WHAT IT IS!

Opportunity - Made in Detroit Opportunity – Made in Detroit

From One Local Business Owner to Another

Okay, first let me introduce my stake in writing this article. I am a contributor to the Love Wyandotte blog, an advocate of the cause and an active participant in Love Wyandotte marketing. I own and operate a technology and marketing company 3V Business Solutions, a proud Love Wyandotte affiliate. Needless to say, we are a locally owned independent business just like every other affiliate of Love Wyandotte!

I have seriously considered the Detroit Chapter 9 bankruptcy saga  and the potential impact on our business. Was I reluctant to invest any resources in our local business with the pending Chapter 9 bankruptcy of Detroit? Hell yes! Was I concerned about the well-being and the future of our little community 10 miles south of Detroit? Hell yes I was! Did we ever consider getting the hell out of Dodge? Hell yes we did.

First, let me apologize for dropping the “H” bombs, not once but four times! Second, please note the usage of the terms “Was I” and “Did we”, past tense. I had the opportunity to meet and speak with some community leaders this week. One of those meetings was with Peter Rose, owner of Chelsea Group, LLC (Chelsea Menswear and Willow Tree Fashions). Peter is also the founder and the president of Love Wyandotte. Amid our conversation, Peter injected some unique perspective about Detroit, some valid, interesting and enlightening points. Most notably;

“Mike, you do realize that Dan Gilbert is a smart person and shrewd businessman? He is all-in on his investments in Detroit, continuously doubling-down, moving all the Quicken employees to Detroit and putting his money where his mouth is. He did not invest a billion dollars in real estate downtown hoping for a ten percent return, he is shooting for ten times that number, and frankly, even more. What a commitment, what a vision.”

Dan Gilbert, Quicken Loans and Renaissance of Detroit

Dan Gilbert, Quicken Loans and Renaissance of Detroit

Everything Good About Detroit

Yes, I guess Mr. Gilbert has more credibility than I on the streets when it comes to investing, otherwise I probably would not be writing this article (wink, wink). That conversation was somewhat of a watershed moment for myself and my attitude towards our community. Sometimes it is natural as a human to get caught up in the propaganda, pander to negativity and fail to see the forest through the trees. So let us take a look at the reality of Detroit and apply a little common sense with a sprinkle of speculation.

  • DETROIT IS and always WILL BE the birthplace of the automobile. That is our identity and regardless of what happens in the future, when you think Detroit you think CARS, nobody can take that away from us!
  • DETROIT IS and probably always WILL BE one of the most densely populated areas of highly educated and highly skilled manufacturing engineers! (2nd largest source of architectural and engineering jobs)
  • DETROIT HAS a growing techno-centric ecosystem with lots of examples of recent start-up success stories (this article is a little dated but hey a quote from Kid Rock can always pique at least a little interest)
  • DETROIT HAS an enormous amount of young entrepreneurs that are leading a generation that is willing to GIVE (Hatch DetroitNextEnergyCore Detroit, Shinola) to Detroit as opposed to the previous generation who seemed to only want to TAKE (Yeah, that includes you Kwame and NO he does not get the privilege of a backlink from me!)
  • DETROIT HAS teams in the four (4) major sports; Baseball, Football, Basketball and Hockey – One of only 6 markets to be able to boast as such; New York, Philadelphia, Chicago, Phoenix, Miami, Boston (NO, you are not on this list Los Angelas, sorry no football team) – AND our teams are well-funded which is usually an indication of people willing to spend money to support their teams!
  • DETROIT HAS a history of producing world class artists and entertainers (Motown, Kid Rock, Eminem, need I say more – Okay one more, Ted Nugent – have to throw some controversy in here)
  • DETROIT HAS an enormous amount of skilled auto-workers and trade laborers (history of UAW)
Detroit UAW

Detroit UAW

Detroit Tigers

Detroit Tigers

Detroit Red Wings

Detroit Red Wings

Detroit Lions

Detroit Lions

Detroit Pistons

Detroit Pistons

kid_rock

 

 

 

 

 

Detroit – My Opinion

So, there are some of the facts. How about some opinion? Once again, my opinion is an evolution based upon a reflection and a greater understanding of our beloved city. My opinion is that metro Detroit has always been, currently is and always will be an incubator of innovation. Whether that innovation is the automobile, technology, services or even the film industry (dare I say that) the great people of Detroit, greater metro Detroit and Wyandotte will persevere.

Detroit – My Feelings

Separate from opinion is feeling, how do I feel about Detroit? I feel incredibly proud to see the next generation of citizens hard at work trying to rebuild our great city. I feel overwhelmed by the number of people I personally grew up with who are involved in the renaissance, who are volunteering their time to help the community (shout-out for everyone from Redford)!  I feel humbled knowing that Scott coaches football, Ken is a Detroit policeman, Melissa is leading the “green movement,” that Mike coaches little leagues, that Gerry is on the board of directors, that Nancy donates her time to the animal shelter; no last names, if those people happen to read this article they will know who they are. I feel very fortunate to have resources like Dan Gilbert, like Mike Ilitch and like many others that are willing to invest their resources in our communities. I feel the contribution from all of these types of people, from all walks of life, from all ethnicities, from all races, from all genders and from all income demographics will ultimately return Detroit to once again be “The Paris of the West!”

What is your opinion about the future of Detroit and the future of Wyandotte?

While you are here and since you have read to this point I would kindly ask that you “Like” 3V Business Solutions on Facebook, just click the button below! This is one of the fringe benefits of guest-blogging and being a contributor to Love Wyandotte. Thanks for the support!

Michael Lucy

About The Author

My name is Michael Lucy, I own and operate a local technology and marketing company, 3V Business Solutions. I am not only a Love Wyandotte alliance member, I am actively involved in the alliance and a contributor to the Love Wyandotte blog. My views and opinions are consistent with the Love Wyandotte cause and hence I both enjoy and appreciate the opportunity to provide value to the alliance!


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