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Forbes list of richest people in the world has a new member with Michigan ties Earvin “Magic” Johnson, a former Michigan State University basketball player from Lansing who later starred for the Los Angeles Lakers, has joined Michigan billionaires Dan Gilbert, the Stryker family and the Meijer family on Forbes’ 2024 list of the richest people…

Michigan banks have more commercial real estate loans than big chains. Are they in danger? Commercial office buildings vacated by the disruptions of the COVID-19 pandemic are now a predicament for the banks that are carrying their loans.  In Michigan, some banks have sunk more than half of their business into this risky sector.  “Two…

Revived lofty Romulus sports, entertainment complex vision gets conceptual approval A developer with an ambitious Romulus proposal first conceived more than two decades ago is taking another crack at it. Kenneth Bardwell and his Motown Sports Group Holdings LLC has received conceptual site plan approval from the Planning Commission for his grand vision: a sprawling…

Detroit’s credit rating hits investment grade for the first time since bankruptcy The city of Detroit’s credit rating has been returned to Investment Grade by Moody’s Investors Services for the first time in 15 years. The last time Detroit was considered Investment Grade was 2009, four years before the city declared bankruptcy. The two-notch upgrade…