Ward on Words

About a year ago, the WSJ posted a story about a very, very bold prediction : the folks over at GM were predicting 2010 would be a "profitable year" for the company. It was a very bold prediction because GM had not seen a profit since 2004. 2009 saw the forced exit of its leader, Rick Wagoner, a man who'd occupied various positions in the C-suite at GM for nearly 20 years. Under his leadership, GM ended up a recipient of a massive and unpopular government bailout, and then filed for bankruptcy soon after. So for a company that had been so buffeted by terrible leadership and the headwinds of our grim economy, its prediction of profitability in 2010 seemed a bit of a reach. But apparently, its predictions of success have become reality. According to a story in the Wall Street Journal , GM posted its "strongest annual performance in more than a decade" in 2010. And a profit of $4.7 billion. However, they're not out of the woods yet. Higher gas prices...

If you watched the Superbowl , you probably saw the Chrysler ad (AKA one of two Eminem Superbowl ads.) If not, you can watch it here  on YouTube.  Beautifully filmed, beautifully edited, it's a love song to Detroit. Told by Eminem. And it starts with a question: What does this city know about luxury? And I've got some stats that indicate the answer would be "not much." The lead in a 2009 Wall Street Journal story goes like this: They call this the Motor City, but you have to leave town to buy a Chrysler or a Jeep. The Journal goes on to note that Borders had just closed its last Detroit store, and that Starbucks, "known for saturating U.S. cities with its storefronts, has only four left in this city of 900,000 after closures last summer." The story then points out that there are no national grocery stores in Detroit. That was then, in 2009. What about now? Well, the good news is that unemployment decreased in 2010 (according to preliminary d...

Seems if you want to open a store in Detroit these days, you really are a "fool for the city." According to a story in the WSJ , retailers are fleeing the Motor City as if inspired by the V8 engine, fast and furious. Just four Starbucks remain within the city limits. (In my little Chicago suburb of 20,000, we have nearly that many 'Bucks to visit.) The affordable luxuries that bring happiness to so many appear beyond the reach of most Detroit residents. I went to Detroit once, about 15 years ago. One of my friends had grown up in Detroit (the city proper, not an affluent suburb on the ring of it) and her mother was moving out of the family house. Back then, in the early 1990s, it had sold, this little house in Detroit, for about $5,000. You couldn't get a Chrysler for that price in those days. I'm sure there were houses in Bloomfield Hills where you couldn't get a door for that price.... The house was on a block that had "changed" abo...