Karaoke Las Vegas Strip
Is The Economy Working For Anyone?
Education leaders are seeing more students staying in or returning to school countrywide. There are long waiting lists for adult education and GED classes and spiking community college enrollments. A past study on school dropouts found states with higher unemployment have fewer dropouts. Another study estimated for every 1% increase in unemployment, the dropout rate decreased 5%. Unemployment figures show the unemployment rate is directly related to levels of education. Today’s average dropout will earn about $23,200 less a year than a college graduate. The recession is teaching students new math.
In spite of Detroit’s recession woes, people are investing in real estate. Architects Bob and Maureen Kraemer invested in Broderick Tower, a vacant downtown skyscraper. Because they believe cities recover only when people want to live in them, they want to turn the building into luxury apartments; and because Broderick Tower is an historical building, tax credits may cover one-third of construction costs. Then there’s Andrew Fox, 32, who was raised in Detroit. He owns 45 modest homes, which he’s renovated and rented. Although about 1 million people have left Detroit since the 1950’s, some are staying to build hope.
Although business is down in Las Vegas, there’s hope for Ellis Island Casino and Brewery – it’s packed. There’s a $6.99 steak dinner, a free music show in the lounge, karaoke, as well as gambling. Although its revenues are down 5%-10% from 2008, other casinos are doing considerably worse. Ellis Island is located behind the Vegas strip, next to a Super 8 motel. Although some out-of-towners find it via the cheapovegas Web site, most customers are locals, many whose jobs hours have been cut. By giving customers what they want at bargain prices, Ellis Island Casino and Brewery is beating the recession odds.
TNT EDM is a precision tool and die shop in Plymouth, Michigan that’s beating the recession odds. The shop had specialized in small components, like injection molds for cars. Their main customers were larger suppliers, who sold to automakers. In 2003 TNT saw many customers consolidating or going bankrupt. That’s when the company decided to diversify into other industries. TNT now provides parts for alternative energy, medical defense and aerospace. In fact, aerospace is expected to provide 50% of its business by 2010. Since TNT began diversifying, its revenues have gone from $10 million in 2003 to $12 million in 2008. It just took “carful” diversifying.
About the Author
Knight Pierce Hirst has written for television, newspapers and greeting cards. Now she writes a 400-word blog three times a week. KNIGHT WATCH, a second look at what makes life interesting, takes only seconds to read at http://knightwatch.typepad.com
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