October 2023 Issue
Keep On Rolling: Three local car dealers on the future of the auto industry
The business of selling cars in America has experienced a significant transformation over the past two decades. Car dealerships have been at the forefront of change – navigating shifting and sometimes rocky economies, interest rate hikes, supply chain issues, government mandates for fuel efficiency and electric vehicles, and varying consumer behaviors, to name a few.
The pandemic also accelerated the demand for digital, acting as a catalyst by intensifying the need for dealerships to adapt by investing in virtual showrooms and contactless transactions. Coexistent to the increased digital space, however, is an opportunity for car dealerships to examine their own …
Boom ... or Bust?: The pros and cons of Traverse City's retirement allure
Is the Grand Traverse region really the best place to retire? National publications say it is.
In August, Traverse City was featured in the opening paragraph of a Forbes magazine article, “25 Best Places to Enjoy Your Retirement in 2023,” which cited everything from good air quality to Traverse City’s fine dining as attributes that might attract retirees to the region.
A recent retiree echoes these sentiments. Amy Piper was a Lansing-based freelance travel writer …
Small Fortune: Tiny State Savings Bank expands, competes against the big banks
For most of its 127-year history, Frankfort-based State Savings Bank limited itself to serving customers in tiny Benzie County, the state’s geographically smallest county with a population of 18,300 residents.
But about a decade ago the bank decided it needed to expand beyond the county’s borders to compete in an industry that was rapidly consolidating through bank mergers and acquisitions. Aiding that decision was its limited economic development prospects: more than a third of the …
Second Act: Retirees discover fresh purpose in unexpected careers
Retirement often marks the end of one chapter and the beginning of another. For four Traverse City retirees, winding down their careers wasn’t a conclusion – it was an opportunity for reinvention. From cultivating vibrant gardens to hitting the airwaves, they’ve redefined retirement, proving that a fulfilling second act is never out of reach.
Virginia Coulter | Old Mission FlowersCoulter
When she retired from her desk job as housing administrator for Grand Traverse County …
Declining population trend is a wake-up call for Michigan
"A 10% decline? That is scary.”
That was my response to a demographic study we conducted in 2019 as part of our efforts to set a new economic development strategy for the Grand Traverse region.
As many readers will recall, the region lost 10% of our prime working-age …
4FRONT ACQUIRES U.P. BANK
Traverse City-headquartered 4Front Credit Union has acquired Old Mission Bank, a local bank serving the eastern Upper Peninsula. The transaction grows 4Front's assets to nearly $1.2 billion and 20 branches. "We are thrilled to welcome Old Mission’s valued customers and employees into the 4Front family," said …
BANKING & FINANCE Keri Lindman has joined State Savings Bank as assistant vice president of treasury management. Lindman brings more than 20 years of financial services experience to her new role.Jeff Mason has joined the Northwest Michigan Community Action Agency's financial management services team in Traverse City. Mason is a HUD-certified …