Business Review

Associated Press: Pulte narrows loss, expressing optimism for home building in 2010

Pulte Homes Inc. said Tuesday its loss narrowed in its fourth quarter, and the nation's largest homebuilder expressed cautious optimism for housing demand this year.

Pulte CEO Richard Dugas said job growth and improved consumer confidence will be needed for a meaningful rebound in new home sales this year. Possible obstacles include the expiration of two homebuyer tax credits, a rise in mortgage rates and tight lending standards, all of which could hurt demand and price stability.

Mitch's Place bar closes on South University in Ann Arbor

Long-time University of Michigan student bar Mitch's Place is closed, according to its website.

The business - sold to Mitch Savas, who changed the name from Bicycle Jim's to Mitch's Place several years ago - originally operated at the northeast corner of South University and South Forest.

Updated: Metro Detroit investor among potential short-sale buyers for Ann Arbor Country Club

A former auto industry executive with a history of investments in the hospitality industry - and who once considered buying the Renaissance Center in Detroit - is among the investors seeing to buy Ann Arbor Country Club.

Anthony Barclae, whose Cynba International Inc.'s office is in Troy, is negotiating with Citizens Bank to take over the $1.7 million loan held by AACC, which has been making reduced interest-only payments since 2008.

Saline baking supplies company captures a bigger slice of market

Brian and Anne Schockley, owners of the Baker's Nook in their store.

Lon Horwedel | AnnArbor.com

You won't find any sign of a sagging economy at the Baker's Nook in Saline. An expansion of its brick-and-mortar operation and strong online retail sales have doubled revenues over the past four years for the baking supplies business owned and operated by Brian and Anne Shockley of Tecumseh.

Anne Shockley and her mother opened the Baker’s Nook in 1994 to fulfill the creative needs of bakers and to supply birthday and wedding cakes to the neighborhood. Brian and Anne wed in 2000, and he began handling the technical operations.

Detroit Free Press: Saline's MMI succeeding as niche manufacturer after move from Plymouth

The Detroit Free Press caught up with MMI Engineered Solutions, which announced in August that it would move from Plymouth to about half of the 80,000-square-foot facility formerly used by Thyssen-Krupp in Saline.

Associated Press: Dow closes below 10,000 for first time in 3 months

The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe.

Shares of big banks pulled the market lower, extending a slump that has led to four straight weekly losses.

TODAY'S BUSINESS NEWS LINKS: Toyota to add 2010 Prius to recalls, Consumer's Energy to lay off 80

Here's a collection of the Metro Detroit, Michigan and national business news stories today:

Metro Detroit:
• Detroit Free Press: General Motors to send out repair parts for 2009-10 Pontiac Vibes this week
• Detroit Free Press: 8 ways to sell your house in tough times

Toyota's troubles could remake the auto industry

Getting to the top of your game or industry is never easy. It takes vision, dedication, competitive drive, talent and some luck. However, it doesn't take long for a champion to get knocked off the podium.

Toyota, it seems, is having its own Tiger Woods moment. Tiger's reputation was permanently tarnished when his perpetual infidelities were revealed.

Now, Toyota's quality indiscretions are coming to light -- and the public is beginning to question whether the automaker's reputation for quality was ever deserved.

With Video: Rick Snyder, in Super Bowl ad, asks voters to embrace 'one tough nerd'

Ann Arbor venture capitalist Rick Snyder hopes voters will embrace “one tough nerd” for Michigan’s governorship.

With Video: Mary Sue Coleman 'very optimistic' about Michigan's economic future

University of Michigan President Mary Sue Coleman said Friday that she believes that Michigan is filled with economic opportunity.

Signs point to growing stability in Ann Arbor area housing market

The Ann Arbor area joined the rest of the nation in watching home sales free-fall in recent years, and now it’s sharing in the signs of hope for recovery.

Local sales data for 2009 show some reason for optimism: Unit sales stayed flat over 2008, and a year-end rush helped power those totals.

Column: Paula Gardner

Ability to adapt to market changes pays off for Ann Arbor area's top Realtors

Optimism, hard work and expertise honed over years in a specific market pay off in any career.

But for the Ann Arbor area’s top 10 Realtors, the payback totaled a combined $223 million in sales of local listings in 2009.

Over the last week, I talked to nine of the top 10 Realtors in a county with 820 licensed members in the Ann Arbor Area Board of Realtors.

Q&A: HandyLab's Jeff Williams transitions to Ann Arbor's Accuri Cytometers

Vibrant entrepreneurial economies are populated with startup executives who hop from one local company to another, rather than leaving the region after their first venture in search of fertile ground elsewhere.

That's why Ann Arbor startup veteran Jeff Williams' decision to stay here after leaving two successful firms is proving to be evidence of the region’s entrepreneurial growth.

Washtenaw County chamber directors say no new mergers are planned

Business leaders who’d like to see more mergers among Washtenaw County’s chambers of commerce aren’t likely to get their wish anytime soon.

The Ann Arbor and Ypsilanti chambers announced in December they would merge, forming the Ann Arbor/Ypsilanti Regional Chamber. But other Washtenaw County chambers say they are nowhere near pursuing a similar path.