Down and Out in Bloomfield Hills
As Detroit wobbles, even its toniest suburbs feel ripples from the woes of GM and Ford.
By JEFFREY ZASLOW - WSJ
April 1, 2006; Page A1
BLOOMFIELD HILLS, Mich. -- Foreclosures are up and charitable giving is down. A local country club has a waiting list -- for members who want to quit. The market for expensive homes is so slow that Michael Robbins, a divorce attorney here, says one of his clients is still living with his ex -- three months after the divorce was final.
With the Michigan economy battered by the ailing auto industry, the ripples are being felt across the state -- even here in one of the nation's wealthiest communities. At a time when there's a growing gap between the rich and the poor, Bloomfield Hills offers a clear reminder that the wealthy often can't escape from the severe problems of a local economy. And that, in turn, is putting pressure on a wider swath of less-wealthy residents who depend on the rich for business.
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Sunday, April 02, 2006
The Sky is Falling or Opportunity Knocks
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