Student loan assistance may become as popular as 401(k) plans?

On By TheGypsyProfessorIn Academia, Adjunct, Education, Higher Education, Student LoansLeave a comment

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Mixing a bit of personal finance and education today. This is something that was talked about a few years ago, but is now making news. Student loan debt in the USA now sits at a staggering 1.5 trillion (and growing) dollars. This debt has outpaced credit card debt, and other consumer debt to become the largest debt held by Americans outside of their mortgages.

What do you think? Is this attacking the symptom over the disease? Is this something that might catch on? Comments welcome!

see the full article here

https://www.cnbc.com/2018/08/20/student-loan-assistance-becomes-a-mainstream-workplace-benefit.html

Student loan assistance may become as popular as 401(k) plans

  • Around 70 percent of college graduates are in debt today. The average person leaves school $30,000 in arrears, and many owe more than $100,000.
  • Hundreds of companies are now offering student loan assistance to their workers.
  • “It’s as meaningful to recent graduates as 401(k)s,” said Meera Oliva, chief marketing officer at Gradifi, a Boston-based firm that designs student loan repayment programs for companies.
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RyanJLane | Getty Images

Jessica Crowley used to dwell on an unpleasant thought. When her children began college, she’d still be repaying her own student loans.

But a few months ago, the company where she works announced a new benefit: student loan assistance.

Now, New York Air Brake, which makes train control systems, pays Crowley $166 a month toward her student loan balance, which means she’ll be debt-free sooner than she thought.

“It’s going to shorten my loan life by a couple of years,” Crowley, 30, said. “It’s going to be a big difference.”

Jessica Crowley, who receives student loan assistance from her employer New York Air Brake.

Source: Jessica Crowley
Jessica Crowley, who receives student loan assistance from her employer New York Air Brake.

Student loan assistance, which started as a niche offering by a handful of companies, is finding its way into the mainstream menu of workplace benefits.

“This is certainly emerging as a new and very important benefit,” said David Pratt, a professor at Albany Law School who studies employee benefits.

This year, Fidelity began to offer businesses a way to contribute to their workers’ education debt. Since then, more than two dozen companies have signed up, and it expects that number to double by January.

“This is certainly emerging as a new and very important benefit.”-David Pratt, professor, Albany Law School

“This is going to grow rapidly over time,” said Asha Srikantiah, vice president of workplace emerging products at Fidelity. “We’re seeing so many more people who have debt and who are overwhelmed by that.”

Indeed, 7 in 10 college graduates have student loan debt. The average person leaves school $30,000 in arrears, while nearly 20 percent owe more than $100,000. Americans are now more burdened by education loans than they are by credit card or auto debt.

Companies offering assistance grows

Helping employees with their education debt is a great way to attract new talent, said John Samaan, senior vice president and head of human resources at Millennium Trust Company.

The financial services firm began offering its employees student loan assistance a few months ago. Now, 20 percent of the company’s 300 employees are already enrolled, Samaan said.

“We got a lot more inquiries from potential candidates,” Samaan said. “People want to join us to be able to participate in this program.”

Options Clearing Corp., a large clearinghouse for equity derivatives, also started providing its employees student loan contributions this year. More than 70 employees signed up within the first month, said Erin Smith, first vice president of total rewards at the company.

She said student loan assistance is the number one benefit being talked about at job and recruiting fairs.

“Most companies provide a pretty standard benefit menu, like medicine, dental and vision, so when you introduce a program that differentiates you, that really matters,” Smith said.

“It’s as meaningful to recent graduates as 401(k)s.”-Meera Oliva, chief marketing officer at Gradifi

More than 350 companies are administering education debt benefits to their employees through Gradifi, a Boston-based firm that designs student loan repayment programs for companies.

“It’s as meaningful to recent graduates as 401(k)s,” said Meera Oliva, chief marketing officer at Gradifi.

It’s not enough, critics say

To be sure, there’s some skepticism about how much the private sector can remedy a $1.5 trillion — and growing — outstanding student loan debt balance.

“The problem is we’re treating the symptom of a disease — and the disease is that education is more expensive in this country than anywhere else in the world,” said Pratt, the Albany Law School professor.

Student debt could hold back economic growth, Fed chief says

Student debt could hold back economic growth, Fed chief says  

The country needs a more universal solution, like bringing down the cost of tuition, said Kate Bronfenbrenner, director of labor education research at Cornell University.

“It doesn’t work if it’s provided via employers, because it’s always going to be a small amount that offer it,” Bronfenbrenner said. “And they’re going to provide this, but then take away that.”

Indeed, the number of companies supplying the benefit remains relatively small — around 4 percent, according to the Society for Human Resource Management.

And one of the factors likely contributing to the nation’s swelling student loan debt is that the number of employers helping their workers with their original education costs is shrinking.

Company contributions to undergraduate education expenses dropped to 53 percent in 2017, from 61 percent in 2013, accordingto the Society for Human Resource Management.

During that period, graduate school assistance at work also fell, to 50 percent from about 60 percent.

“The problem is we’re treating the symptom of a disease — and the disease is that education is more expensive in this country than anywhere else in the world.”-David Pratt, Albany Law School professor

Still, the benefit can make a big difference for the employees who do receive it.

For example, if someone has a student loan balance of $26,500 on a 10-year repayment term with a 4 percent interest rate, a $100 a month contribution from his or her employer would free them from their debt three years earlier.

It can also help employees better take advantage of other workplace benefits.

Ed Farrington, head of retirement strategies at Natixis Investment Managers, said the company realized after annual surveys of 401(k) plan participants that student loan debt was hindering millennials’ ability to save for retirement.

“We thought, what can we do to try eliminate one of those barriers?” Farrington said. “And we said we want to start helping people who are carrying student loan debt.”

Maggie McCuen, who works at Natixis and uses the student loan assistance program.

Source: Maggie McCuen
Maggie McCuen, who works at Natixis and uses the student loan assistance program.

It seems to be working for Maggie McCuen, 26, public relations manager at Natixis, who’s been receiving the assistance at work for around two years now.

“The money that I would have been spending on the student loan I’ve been reallocating to my 401(k),” McCuen said. “I think I’ve put away at least four times as much.”

Abbott, an Illinois-based health care company, recently announcedthat it will contribute to employees’ 401(k) plans if they’re putting at least 2 percent of their salary toward their education debt.

Will loan assistance become as big as 401(k)s?

There’s still an unfortunate tax hurdle that will likely stall the growth of a student loan assistance benefit, experts say.

Companies recieve no particular tax incentive for such contributions while employees must report their payments as income to the IRS.

However, a number of recent bills seek to make this assistance tax-free, up to a certain amount. Companies including Starbucks and Verizon have expressed support for such a measure.

“Congress needs to take the next step and make this benefit tax free,” said Mark Kantrowitz, publisher of SavingforCollege.com and a student loan expert. “Most people don’t remember that 401(k) plans started in exactly the same way about 35 to 40 years ago.”

What is to be done?

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Back in the saddle…featuring new writing tips!

On By TheGypsyProfessorIn Education, Life, Monday, Motivation, Therapy, Travel, Writing2 Comments

I know, I know. Its been a month. A few days ago, I received a distressed Whatsapp message from a friend letting me know how much they missed my occasional posts.  I have some projects in the works, but wanted to share something I came across recently that both made me smile, and inspired me to write more.

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The below excerpt is from James Altucher.  (www.jamesaltucher.com) I stumbled over his stuff a few months ago. I was struggling with some melancholic bullshit, and I hit the web hard to read through it, as I often do. One  late night trek down the web based rabbit’s hole I discovered Mr.Altucher. Hes quite an eclectic character, but his stuff gave me a good old fashioned and much needed jolt of inspiration.

 

I want to be creative, I want to write, travel, and push myself as far as I can go.

 

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“Back in college, Sanket and I would hang out in bars and try to talk to women but I was horrible at it.

Nobody would talk to me for more than 30 seconds and every woman would laugh at all his jokes for what seemed like hours.

Even decades later I think they are still laughing at his jokes. One time he turned to me, “The girls are getting bored when you talk. Your stories go on too long. From now on, you need to leave out every other sentence when you tell a story.”

We were both undergrads in Computer Science. I haven’t seen him since but that’s the most important writing (and communicating) advice I ever got.

33 other tips to be a better writer:

1) Write whatever you want. Then take out the first paragraph and last paragraph

Here’s the funny thing about this rule. It’s sort of like knowing the future. You still can’t change it. In other words, even if you know this rule and write the article, the article will still be better if you take out the first paragraph and the last paragraph.

2) Take a huge bowel movement every day

You won’t see that on any other list on how to be a better writer. If your body doesn’t flow then your brain won’t flow. Eat more fruit if you have to.

3) Bleed in the first line

We’re all human. A computer can win Jeopardy but still not write a novel. If you want people to relate to you, then you have to be human.

Penelope Trunk started a post a few weeks ago: “I smashed a lamp over my head. There was blood everywhere. And glass. And I took a picture.” That’s real bleeding. My wife recently put up a post where the first line was so painful she had to take it down. Too many people were crying.

4) Don’t ask for permission

In other words, never say “in my opinion” (or worse “IMHO”). We know it’s your opinion. You’re writing it.

5) Write a lot

I spent the entire ’90s writing bad fiction. Five bad novels. Dozens of bad stories. But I learned to handle massive rejection. And how to put two words together. In my head, I won the Pulitzer prize. But in my hand, over 100 rejection letters.

6) Read a lot

You can’t write without first reading. A lot. When I was writing five bad novels in a row I would read all day long whenever I wasn’t writing (I had a job as a programmer, which I would do for about five minutes a day because my programs all worked and I just had to “maintain” them). I read everything I could get my hands on.

7) Read before you write

Before I write every day I spend 30-60 minutes reading high quality short stories poetry, or essays. Here are some authors to start:

  • Denis Johnson
  • Miranda July
  • David Foster Wallace
  • Ariel Leve
  • William Vollmann
  • Raymond Carver

All of the writers are in the top 1/1,000 of 1% of writers. What you are reading has to be at that level or else it won’t lift up your writing at all.

8) Coffee

I go through three cups at least before I even begin to write. No coffee, no creativity.

9) Break the laws of physics

There’s no time in text. Nothing has to go in order. Don’t make it nonsense. But don’t be beholden to the laws of physics. My post, Advice I Want to Tell My Daughters, is an example.

10) Be Honest

Tell people the stuff they all think but nobody ever says. Some people will be angry that you let out the secret. But most people will be grateful. If you aren’t being honest, you aren’t delivering value. Be the little boy in the Emperor Wears No Clothes. If you can’t do this, don’t write.

11) Don’t Hurt Anyone

This goes against the above rule, but I never like to hurt people. And I don’t respect people who get pageviews by breaking this rule.

Don’t be a bad guy.  Was Buddha a Bad Father? addresses this.

12) Don’t be afraid of what people think

For each single person you worry about, deduct 1% in quality from your writing.

Everyone has deductions. I have to deduct about 10% right off the top.

Maybe there are 10 people I’m worried about. Some of them are evil people. Some of them are people I just don’t want to offend.

So my writing is only about 90% of what it could be. But I think most people write at about 20% of what it could be. Believe it or not, clients, customers, friends, family, will love you more if you are honest with them. We all have our boundaries. But try this: For the next 10 things you write, tell people something that nobody knows about you.

[Related: How to Self-Publish a Bestseller: Publishing 3.0]

13) Be opinionated

Most people I know have strong opinions about at least one or two things… write about those. Nobody cares about all the things you don’t have strong opinions on.

Barry Ritholz told me that he doesn’t start writing until he’s angry about something. That’s one approach. Barry and I have had some great writing fights because sometimes we’ve been angry at each other.

14) Have a shocking title

I blew it the other day. I wanted to title this piece: “How I torture Women” but I settled for “I’m Guilty Of Torture.” I wimped out. But I have some other fun ones, like “Is It Bad I Wanted My First Kid To Be Aborted” (which the famous Howard Lindzon cautioned me against).

Don’t forget that you are competing against a trillion other pieces of content out there. So you need a title to draw people in. Else you lose.

15) Steal

I don’t quite mean it literally. But if you know a topic gets pageviews (and you aren’t hurting anyone) than steal it, no matter who’s written about it or how many times you’ve written about it before. “How I Screwed Yasser Arafat out of $2mm” was able to nicely piggyback off of how amazingly popular Yasser Arafat is.

16) Make people cry

If you’ve ever been in love, you know how to cry.

Bring readers to that moment when they were a child, and all of life was in front of them, except for that one bittersweet moment when everything began to change. If only that one moment could’ve lasted forever. Please let me go back in time right now to that moment. But now it’s gone.

17) Relate to people

The past decade or more has totally sucked. For everyone. The country has been in post-traumatic stress syndrome since 9/11 and 2008 only made it worse. I’ve gone broke a few times during the decade, had a divorce, lost friendships, and have only survived (barely) by being persistent and knowing I had two kids to take care of, and loneliness to fight.

Nobody’s perfect. We’re all trying. Show people how you are trying and struggling. Nobody expects you to be a superhero.

18) Time heals all wounds

Everyone has experiences they don’t want to write about. But with enough time, its OK. My New Year’s Resolution of 1995 is pretty embarrassing. But whatever… it was 16 years ago.

The longer back you go, the less you have to worry about what people think.

19) Risk

Notice that almost all of these rules are about where the boundaries are. Most people play it too safe.

When you are really risking something and the reader senses that (and they WILL sense it), then you know you are in good territory. If you aren’t risking something, then I’m moving on. I know I’m on the right track if after I post something someone tweets, “OMFG.”

20) Be funny

You can be all of the above and be funny at the same time.

When I went to India I was brutalized by my first few yoga classes (actually every yoga class). And I was intimidated by everyone around me. They were like yoga superheroes and I felt like a fraud around them. So I cried, and hopefully people laughed.

It was also a case where I didn’t have to dig into my past but I had an experience that was happening to me right then. How do you be funny? First rule of funny: ugly people are funny. I’m naturally ugly so its easy. Make yourself as ugly as possible. Nobody wants to read that you are beautiful and doing great in life.

21) The last line needs to go BOOM!

Your article is meaningless unless the last line KILLS.

Read the book of short stories “Jesus’ Son” by Denis Johnson. It’s the only way to learn how to do a last line. The last line should take you all the way back to the first line and then “BOOM!”

22) Use a lot of periods

Forget commas and semicolons. A period makes people pause. Your sentences should be strong enough that you want people to pause and think about it. This will also make your sentences shorter. Short sentences are good.

23) Write every day

This is a must. Writing is spiritual practice. You are diving inside of yourself and cleaning out the toxins. If you don’t do it every day, you lose the ability. If you do it every day, then slowly you find out where all the toxins are. And the cleaning can begin.

24) Write with the same voice you talk in

You’ve spent your whole life learning how to communicate with that voice. Why change it when you communicate with text?

25) Deliver value with every sentence

Even on a tweet or Facebook status update. Deliver poetry and value with every word. Else, be quiet.

26) Take what everyone thinks and explore the opposite

Don’t disagree just to disagree. But explore. Turn the world upside down. Guess what? There are people living in China. Plenty of times you’ll find value where nobody else did.

27) Have lots of ideas

I discuss this in “How to be the Luckiest Man Alive” in the Daily Practice section.

Your idea muscle atrophies within days if you don’t exercise it. Then what do you do? You need to exercise it every day until it hurts. Else no ideas.

28) Sleep eight hours a day

Go to sleep before 9pm at least four days a week. And stretch while taking deep breaths before you write. We supposedly use only 5% of our brain. You need to use 6% at least to write better than everyone else. So make sure your brain is getting as much healthy oxygen as possible. Too many people waste valuable writing or resting time by chattering until all hours of the night.

29) Don’t write if you’re upset at someone

Then the person you are upset at becomes your audience. You want to love and flirt with your audience so they can love you back.

30) Use “said” instead of any other word

Don’t use “he suggested” or “he bellowed,” just “he said.” We’ll figure it out if he suggested something.

31) Paint or draw.

Keep exercising other creative muscles.

32) Let it sleep

Whatever you are working on, sleep on it. Then wake up, stretch, coffee, read, and look again.

Rewrite. Take out every other sentence.

33) Then take out every other sentence again.

Or something like that.

Sanket didn’t want to go to grad school after we graduated. He had another plan. Lets go to Thailand, he said. And become monks in a Buddhist monastery for a year. We can date Thai women whenever we aren’t begging for food, he said. It will be great and we’ll get life experience.

It sounded good to me.

But then he got accepted to the University of Wisconsin and got a PhD. Now he lives in India and works for Oracle. And as for me…

I don’t know what the hell happened to me.”

 

find the link here :

https://jamesaltucher.com/2011/03/33-unusual-tips-become-better-writer/

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Detroit News!

On By TheGypsyProfessorIn Corktown, Detroit, Ford, History, TravelLeave a comment

Great piece from the Detroit News, tons of solid links and material here. Get stoked! The Gypsy Professor will be heading down Tuesday for more press coverage!

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How Ford plans to resurrect the train station

IAN THIBODEAU AND DANIEL HOWES | THE DETROIT NEWS

Ford Motor Co.’s restoration of the Michigan Central Depot by 2022 would bring 5,000 employees to Detroit’s Corktown neighborhood, where the Blue Oval aims to create what it calls “the next generation” of automotive mobility.

Plans for the Corktown campus, to be announced Tuesday, would deliver 1.2 million square feet of mixed-use development spread over multiple parcels and at least three recently acquired buildings. Ford expects to move 2,500 of its employees — roughly 5 percent of its southeast Michigan workforce — to the campus, with space for an additional 2,500 entrepreneurs, technology companies and partners related to Ford’s expansion into Autos 2.0.

“It’s not just a building,” Ford Executive Chairman Bill Ford Jr. told The Detroit News in an interview at Ford World Headquarters. “It’s an amazing building, but it’s about all the connections to Detroit, to the suburbs, and the vision around developing the next generation of transportation.”

More: Ford may build Corktown parking deck

More: Ford aims to keep train station lobby open to public

More: Central Depot message: ‘A sentinel of progress’

More: Ford depot purchase could give new life to symbol of Detroit’s decline

More: Ford aims to keep train station lobby open to public

The company’s goal is to establish its Corktown site at the east end of an evolving mobility corridor evoking Michigan Avenue’s earlier road to the Arsenal of Democracy. The campus would be a critical node in a circuit running from Detroit through Ford’s Dearborn headquarters, to Detroit Metropolitan Airport and the American Center for Mobility at Willow Run, ending at University of Michigan research sites.

“This will be the biggest thing to happen in Detroit since Dan Gilbert brought Quicken down,” Mayor Mike Duggan told The News. Ford’s Corktown plan promises to bring thousands of new tax-paying jobs to the city, as well as complementary investment to satisfy growing demand in a part of town best known for bars, restaurants and coffee shops — not big business.

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Michigan Central Depot would be a “magnet” on that corridor, CEO Jim Hackett said, attracting a new kind of automotive talent Ford expects to deliver fatter profits and higher margins in the future. And that’s precisely what shareholders and industry analysts say they want to see from Ford, whose share price comparatively lags those of its peers.

More: Podcast: Howes on Ford’s Corktown vision

More: Purchase of train depot adds new chapter to long history

More: Detroit must gear up for Ford’s Corktown boom

More: Howes: Ford’s play for train station to build Auto 2.0 campus would transform Corktown

 

The building would be restored and reimagined to attract new employees to help develop the mobility, autonomy and electrification technologies considered the biggest disruptors to the auto industry since Henry Ford began making Model Ts for the masses.

That magnet isn’t intended to pull Ford from Dearborn. All but Ford’s electrification and autonomous driving teams would remain in Dearborn and occupy its sprawling sites. An estimated $1 billion campus redesign there is slated to be completed by the mid-2020s.

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“This is our home,” Bill Ford Jr. said. “We’re not leaving by any means. By the end of this we’ll have a large multiple of employees in Dearborn versus Detroit. This is in no way abandoning Dearborn.”

The Corktown site is meant to supplement Ford’s work on its Dearborn campus. The automaker intends to redirect cash set aside two years ago for its Dearborn facilities renovation to the station purchase and renovation of its Corktown site.

Ford’s vision

Ford’s plan for the depot is evolving. Bill Ford Jr. envisions the soaring lobby of the train station, its Guastavino-tile ceiling hovering almost 55 feet above the floor, to be a bustling public space akin to San Francisco’s Ferry Building Marketplace.

More: Ford’s new beginning for the old train station

More: Corktown neighbors brace for Ford arrival

More: Purchase of train depot adds new chapter to long history

More: Finley: Sell train station or tear it down

More: Detroit must gear up for Ford’s Corktown boom

The ground floor lobby of the 18-story, 500,000-square-foot building would be open to the public. That space could house markets, coffee shops, restaurants, retail and gathering spaces. A hotel and residential space are not being ruled out.

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“One thing I don’t want to do is take a beautiful building and put something that’s garish on there,” Bill Ford Jr. said. “Not that the Blue Oval is garish, but I wouldn’t want to put some giant modern emblem up that just didn’t fit. We don’t want to be isolated, and we don’t want to be seen as taking over the community by any means.”

Part of that community involvement means asking Dan Gilbert’s Bedrock Detroit, Peter Cummings’ The Platform and Redico Management Inc., among other developers, to scout and undertake other Corktown projects that would further the revitalization of the historic neighborhood.

The automaker also is considering erecting a public parking garage on parcels of land acquired along the I-75 service drive and north of Michigan Avenue. That could answer parking concerns for the Detroit Police Athletic League, which recently opened its youth sports stadium on the old Tiger Stadium site, and provide general parking problems in the hip Corktown neighborhood.

“This wouldn’t necessarily be Ford-ville,” Ford Land Co. CEO Dave Dubensky said in an interview. “This could be something bigger than that. We don’t necessarily have to own (everything). I’m in it to fulfill the vision of Bill and the Ford Motor Company. If I can invite others in, and they can actually bring their thinking to the space as well, it’s all better.”

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How they plan to do it

Reviving the depot and establishing Corktown in a potential mobility corridor would require tax incentives to renovate the building at its heart, Bill Ford Jr. said.

The company, pointing to previous projects in the city, expects roughly a third of the up-front renovation costs would be covered by tax breaks for restoring the historic depot. Ford, the city and the former owners of the building have declined comment on how much Ford paid for the station, or how much Ford will spend on the renovation.

The News acquired a now-deleted public document filed online that indicated an entity linked to Ford paid Matthew Moroun’s Crown Land Development Co. LLC $8 million on May 22, the day Dubensky said Ford officially closed on the purchase of the depot and adjacent book depository building.

Hackett said the Corktown project won’t cost Ford any more than what it budgeted for the Dearborn transformation plan, estimated to be roughly $1 billion. Money for the Corktown project is being redirected from that original budget.

Bill Ford Jr., Dubensky and other ranking officials declined to discuss those figures. But the executive chairman did concede that the expected cost of restoring the depot   “dwarfs the purchase price.”

Part of Dubensky’s job during the months-long negotiation was to be Bill Ford’s “sanity check.” Over a roughly seven-month period, Dubensky met with Moroun and the president of the Moroun family’s Crown Enterprises Inc., Michael Samhat, at area restaurants to discuss a possible sale. Bill Ford Jr. met with Moroun in Ford’s Dearborn office, from which Ford can see the western flank of the depot.

Between early 2018 and the May 22 closing, Dubensky’s team tested everything from the soil to the facade of the station to determine an estimated cost of a renovation. The Ford Land team did financial modeling to determine if the investment was feasible with future market conditions.

“I didn’t want this to be an emotional purchase,” Bill Ford Jr. said. “This had to be the right business decision. I couldn’t be happier. But was I prepared to walk away if it was the wrong deal? Yes, I was.”

The result

On a hot June afternoon, the guy whose name is on Dearborn’s Glass House pulled up to the train station in his navy blue Mustang GT convertible. He got out and walked into the station that would be the biggest project of his career, if only for what it represents:

A potentially sustainable revival of Detroit, the restoration of an authentic witness to the 20th-century history of Detroit. It would be bigger than the deal to build Ford Field downtown, he said, bigger than the renovation of the Rouge complex.

“Isn’t this just incredible?” Bill Ford Jr. said, standing on the concourse of Michigan Central Depot as crews set lights and erected scaffolding in a space that witnessed the Great Depression, soldiers heading off to war and welcoming home the fortunate who returned.

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The company plans to announce officially its plans for Corktown and the station at 11 a.m. Tuesday followed by a party in Roosevelt Park north of the long-vacant building. Ford will also host an “open house” Friday, June 22 through Sunday, June 24 to take the public inside the station before renovations begin.

When renovations are complete, the public would have access to 300,000 square feet on the ground floor of the station and other Corktown properties. Roughly 2,500 Ford employees and another 2,500 partner employees would occupy the remaining 900,000 square feet come 2022.

Those partner employees could include Ford suppliers and partners of autonomous vehicle, mobility and electrification businesses. Partners currently include Postmates delivery service, several Silicon Valley companies, Pittsburgh-based Argo AI, and ride-hailing service Lyft.

The Corktown site would give Ford’s teams access to a true urban landscape to test autonomous technology, and how those vehicles would need to communicate with traffic systems, delivery destinations and other infrastructure.

“This is kind of the test track of the future,” said Hackett, Ford’s CEO. Ford employees will have to solve mobility problems for themselves to more efficiently travel to Dearborn and back, for example, and how vehicles could interact with infrastructure along that route.

“This is an exclamation point” for Detroit’s resurgence, Bill Ford Jr. said. “Ford and Detroit have seen good times, we’ve seen bad times, and this is a tough region. We’ve been through it together. This is an authentic move for the city and for us. Frankly, it’s where it all began.”

While the public would 300,000-square-feet on the ground floor of the station and other Corktown properties, 2,500 Ford employees and 2,5000 partner employees would occupy the remaining 900,000 square feet come 2022. This is the top floor.
While the public would 300,000-square-feet on the ground floor of the station and other Corktown properties, 2,500 Ford employees and 2,5000 partner employees would occupy the remaining 900,000 square feet come 2022. This is the top floor.
DAVID GURALNICK, THE DETROIT NEWS

 

ithibodeau@detroitnews.com

daniel.howes@detroitnews.com

Bourdain…

On By TheGypsyProfessorIn Bourdain, Life, Loss, Travel, Wanderlust, Writing4 Comments

The news hit hard this morning. “CNN reports Anthony Bourdain found dead this morning”…it was around noon here. The sun was bright, and we were planning to explore more of Valletta, the amazing capital of Malta.

See, I started traveling roughly 15 years ago, and over these years Bourdain, his show, his spoken word tours and especially his writing inspires me every step of the way.

He was the main motivation that pushed me to Vietnam. Then Cambodia, and to really rediscover south east Asia. I went to see him in Grand Rapids, East Lansing, and Detroit Michigan. All at different periods of my life.

I can’t understand why he would do this, what demons he was facing, but I know we all have them. The New Yorker pieces and his own essays cast him as so completely driven and talented, he was the rockstar of more than just food, but of culture. He hit 60 and showed no real sign of slowing down.

I love his work, and over the years my favorite compliment anyone would post on my travel material was a mini comparison.

The front of this website adorns a few of his quotes. For so many of us, he had the dream life. He admitted he fucked everything up until 40, then landed the most amazing gig ever.

I’m so sad you’re gone, but I’m grateful we were all able to soak up some inspiration.

It’s never easy when you lose an idol.

Rest In Peace Tony.

Europe, on sweet training wheels.

On By TheGypsyProfessorIn Adventure, Amsterdam, Europe, Life, Netherlands, Travel, Wanderlust, Weekend2 Comments

You know I’m all for savage adventure. After Colombia and a brief respite back in the mitten, through chance and a bit of luck I’ve found myself back on the road. An easy flight to Amsterdam, and a few days on the canals turned into a run to Brussels and the push down to the Mediterranean. I’ll start by saying I love the Netherlands. I’ve used Amsterdam well over a dozen times to base invasions or departures from Europe. Winter, summer, spring…never a bad time here. Stroll the Red Light district, have a waffle, enjoy the people watching and the canals. Take it all in and relax. You’ve arrived! This is the perfect starting point. I’ve come to look at Amsterdam a bit as the perfect beginners gateway to Europe. Or, as the title suggests, Europe with training wheels. Let’s start with the airport. It’s big, sure, but easy to navigate. Make your way through customs and viola, the train station is in the basement of the airport. 25 min and 6$ and you are now in the city center.

How easy was that?!

Arriving in the morning is cool as the city is disarmingly quiet. Make your way to your accommodation, drop your stuff, grab a shower/charge your things and get out there! The people here are used to tourists. Don’t worry too much, if you’re confused about something, ask. There are tons of foreigners here, especially in the center. Find a cafe, grab a coffee and start your exploration. I’m a total sucker for canal shots as you can tell. These make for the ideal morning wander as they have a tendency to get jammed packed as the day goes on. You will log serious miles marveling at the old world architecture, waterways, and other sordid attractions. As this is the red light district, you will walk past people engaging in the time honored wake and bake, hitting it hard in the various coffee shops as well as on the street.

Yes. Weed is legal, taxed, and regulated. Enjoy that shit. Just don’t be a wanker about it.

One of the other big taboos for Americans is legalized prostitution. Get over it. Also, respect the ladies. Don’t try to take their picture or waste their time. Smile and walk by. Enjoy the ambiance. How many places like this exist in the world?!

Enjoy the European cafe culture, walk this city, and see how much different things can be. The Dutch are awesome, and as an American they may just ask you why everyone in the States is so sensitive. Grab a beer at one of the dozens of eclectic bars and think about this question. Hang around for the night life, and soon you will be with people from 10 different countries, sampling beer and snacks that simply don’t exist at home, expanding your mind with conversations you never thought you’d have.

A mind stretched by new experiences has a terrible time being closed again. Instead, it will leave you hungry for more.

Buy the ticket, take the ride, and let the good times roll. Amen.

Ford snaps up Michigan Central Station!

On By TheGypsyProfessorIn Corktown, Detroit, Ford, History, TravelLeave a comment

Hell yes. As Robin Runyan has mentioned below, it is indeed a good day for Detroit. Ford has snagged two long derelict Cork Town properties, and the possibilities have many looking forward to their plans.  As many of you know, I love Detroit. I am excited to see whats in store for these iconic spots!

Report: Michigan Central Station has a new owner

It’s a good day for Detroit

By Robin Runyan  
Photo by Michelle & Chris Gerard

We’re getting closer to a likely announcement from Ford in mid-June, as the auto company looks to be creating a campus in Detroit. Crain’s first reported that long-time train depot owners the Morouns have transferred ownership of the long-vacant train station to a New York law firm.

The article states, “A warranty deed dated May 22 was recorded May 23 by the Wayne County Register of Deeds, transferring ownership from the Moroun-owned MCS Crown Land Development Co. LLC to New Investment Properties I LLC.”

The nearby Detroit Public Schools book depository building also transferred ownership to a (slightly) different entity—New Investment Properties II LLC.

The entities aren’t clearly identified as Ford, and the company isn’t specifically addressing it at this point. Dawn Booker from Ford’s real estate division told Crain’s, “We are very excited about our return to Detroit this year beginning with our electric vehicle and autonomous vehicle teams relocating to the historic former factory in Corktown. We expect to grow our presence in Detroit and will share more details in the future.”

This comes after months of speculation and increasingly backed-up rumors of Ford Motor Company buying and renovating Michigan Central Station. Many reports in the past few months have linked Ford to properties around Corktown, including vacant parcels and buildings. Edsel Ford II also confirmed to Crain’s that Ford was discussing a potential move into Corktown.

Ford recently moved over 200 employees working on autonomous vehicle technologies into a refurbished building in Corktown.

Last year, we took a look back at the beauty of Michigan Central Station in historic photos. We can’t wait to see the building—long thought of as a symbol of Detroit’s decline—back in use again.

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Saved by Jesus…and jetBlue

On By TheGypsyProfessorIn Adventure, Caribbean, Cartagena, Colombia, South America, Travel2 Comments

cartagenaOn most days, the majority of headlines concerning airlines read like pure disaster stories. As a semi frequent travelers, we lower our expectations to the abysmal. And lets be honest, despite certain status perks on whichever team/alliance you’re flying, they are all rather similar. For the jaunt to Colombia, I flew jetBlue for the very first time.  Coincidentally, I ended up in Colombia by an accident, or as insurance/credit card companies refer to it as…”An act of God”.

Two years ago, I booked a super cheap fare to Barbados. I was set to to visit the warm sand and inviting water of the Caribbean island in October. Turns out, a hurricane had other ideas…and a similar itenerary. My travel dates fell 2 days outside of the refund window. I was bummed. On a hail marry effort, I called jetBlue to plead my case. The customer service rep had an easy southern drawl, and I remember thinking “at least the bad news that i’m getting hosed on this run will sound pleasant.”  But she worked her magic, and instead issued me a travel voucher! I was floored! I was in the office on a Saturday, which is never the most fun, and I was ecstatic and my unexpected victory.

The voucher was good for 12 months, and I was incredibly impressed by this airline, which I had never flown and had no status or rewards with had gone above and beyond. one year can be quite a while in the world of travel, so I promptly forgot about said voucher. Until the following year, with about 30 days left to go, I smiled and remembered my good fortune. I pulled up a map of where jetBlue might fly from Detroit, and what do I see at roughly the same price?

Cartagena, Colombia. Boom. Sold.

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I had an amazing time over the weeks in Colombia. My initial dispatch from the sunny paradise, From Cartagena with love.  to making it into the majestic mountains of Medellin. Mysteries of Medellin I love Colombia. I’m excited to go back and spend more time among all the awesomeness there.

If only Colombia was easy to leave. On this particular day, this was to prove both metaphorical as well as literal. My last day in Cartagena, after pulling a muscle in my foot from many a mountain trek on my way out of Medellin.  (Colombia, Getting old, Fried chicken and Serendipity.) found me at the wonderful Hotel Centro. My flight was early afternoon, so I had time to sleep in a bit, grab breakfast, take a long shower, say a  few goodbyes and make my way to the airport.

Or not.

Uber can be a tricky service in Colombia, but I had exhausted my cash, and wanted to make it easy as possible. I realized I was running a bit late, and ordered an Uber to the airport, the app tells me my driver is 22 min away.

“Damn 22 min? its typically 5-10”

So I wait, a bit nervous about getting out of the walled city and making it to the airport on time.  With 5 min left to go, the driver sends me a message from within the app, that he can only accept cash.

Miniature disaster strikes.  What do I do? Do I hobble to an ATM, and then try and find a taxi? Do I try another Uber?

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I request a new Uber. I’m waiting outside with my backpack, in the afternoon, tense and sweating as its 92 degrees and bright. New Uber says 15 min away. Fuck.

I make it to the airport, 55 min before my flight leaves. I know that’s just kinda dumb. I’m limping, hot, and frustrated. I’m still smiling, but in more a resigned way. I make my way up to the counter, and the first attendant tells me “this flight is closed, you are too late”. I know this, and am prepared for the Armageddon options to get home. But then the person next her asks me for my passport.

He spends some time in rapid fire Spanish over his walkie talkie, stopping periodically asking me if I have checked baggage, (carry on only for life!) and other bits of logistics. after 5 min or so, my fate hanging in the balance he asks me to follow him. He prints my boarding passes/tickets.

He leads me through customs, then through security and personally walks me to the gate and deposits me at line for boarding. I have never been treated that kindly by an airline. I was astounded by this guys service. I told him it was my first time to Colombia, and my first time flying jetBlue. He smiled and asked if I enjoyed my time here…Before I could answer, he said ” When you come back, try to get to the airport a bit earlier”.

He shook my hand and left.

 

that’s when I noticed his name tag. It was Jesus.

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Cheers!

Colombia, Getting old, Fried chicken and Serendipity.

On By TheGypsyProfessorIn Adventure, Caribbean, Colombia, Life, Medellin, South America, TravelLeave a comment

“Many years later, as he faced the firing squad, Colonel Aureliano Buendía was to remember that distant afternoon when his father took him to discover ice…”

Apt words to begin the plunge into Colombia. Gabriel Garcia Marquez began his famous book with these words. I’m back in the abaco cafe. My favorite in Cartagena. I’ve arrived back after ten days in the mountains, submerging myself into the glory that is Medellin. Unwrapping a few of those mysteries and getting it straightened out in my mind, and even getting some it down on paper. I wrote about the first few days in the Andes, and now that I’ve left back to the heat, it’s time to push it a bit farther.

dragging my sorry ass to the airport yesterday with my beat ass passport had me thinking. The previous days had been an enthralling digestion of the city, neighborhood by neighborhood. Over the three weeks I was averaging 8-9 miles a day walking the valley as well as the mountains. Spectacular views, savage flavors, and incredible people. I fucking love the layers here. I woke up early a few days before departure and noticed my right foot felt extra tender. After showering and leaving my place I had a bit of a limp! What was this? I tried stretching and walking it off, but the heel of my right foot just ached. It throbbed with every step. This proved a true calamity! I hobbled back to the hotel to deduce I had essentially pulled a muscle. I was walking a ton more, and had brought shoes that had been through the shit so to say. I decided that I would take it easy, and head down to the Parque lleras in the evening to edit photos and get some writing in. I find this amazing trendy chic cafe. Surely I will do my best work here. This is the preconceived image. All digital nomads and creative types only work in super cool cafes and on beaches of course. I sat down, ordered a hipster inspired beverage and waited for the greatness to flow.

surely this is where the magic happens…until the rockstar looking barista informs me that they close at 7…which gave me 10 minutes to channel said magic.

Obviously that wasn’t going to happen. I packed my things quickly finished my cafe con something or other and with some difficulty limped out of there.

Where was I going to find the creative muse now? I think we fall for the myth that to do our best work we need some set that looks like it was made for a Harry Potter film. That’s bullshit. This is what you need; good WiFi, a decent seat, and a not too awful vibe. Sit down, shut up, and get it done. Rents due.

So, where do I end up?

Motherfuckin’ KFC. They had excellent WiFi, everyone there was a local, and they had Postobon. My favorite Colombian sugary beverage.

I know, but how could I do that?!

Well, because I had to get over myself. I’m getting older, and I was limping. I was hosted by the the gracious colonel Sanders for about an hour. I did what I had to do, and it was great. Finished my notebook piece, edited photos, plotted some stuff for this site and enjoyed my time. at the end of the day, I’ve realized travel…especially by country number 70, isn’t about insisting to find the top ranked/ most reviewed location. This often leads to epic disappointment. By the time I returned to my place, my friends had also returned, and invited me to sit down to catch up over beers. Perfect timing. Traveling is about the most authentic experience possible. Embrace the unknown, keep a positive outlook and have faith in serendipity.

Even when it involves fried chicken joints.

More soon to come!

 

What do you think? Leave some love!

Mysteries of Medellin

On By TheGypsyProfessorIn Adventure, Caribbean, Colombia, Medellin, South America, TravelLeave a comment

You’ve heard of this city. Netflix has made sure of it. The most commercially successful criminal of the modern age hails from this place. El patron. Pablo Escobar. His is a legacy that is inseparable from Medellin. This city exploded into fame in the 1980s as the cocaine capital of the world. Most estimates say 80% of the white powder party fuel that ended up in the USA came from the Medellin cartel. The first of the Colombian “super cartels”.

Pablo was eventually brought down in a storm of violence that ripped through Colombia. Rival cartels, paramilitary organizations, the Colombian government, as well as the the American CIA all orchestrated his downfall. That was December 1993.

25 years later, Medellin is a rapidly changing city. Is cocaine widely available and offered? Sure. It’s the same in dozens of cities across the globe.

So now what? turns out I’ve been fascinated about Colombia for quite some time. Raw beauty, enchanting people and a beat all it’s own. This week, it was time for me to leave the sunny embrace of Cartagena, for the cool mountain intrigues of Medellin. this city, although only an hour flight from Cartagena could not be more drastically different. Cartagena is distinctly Caribbean. It’s akin to an odd mashup of places like the old town in Hanoi, with a Havana twist. Busy, rhythmic and enchanting, Cartagena is easy to wrap your mind around and manage. Medellin on the other hand is a different animal all together. This city is big. The climate is much cooler, and the vibe is one of a major city on the move. Having just spent a few days here so far, I’ve been traversing this valley as much as possible. This is a place with layers. With depth and grit. The art, the people, the food, all reflect this. to start, one has to venture to the plaza Botero. Famed Medellin artist Fernando Botero is now on his 80s. His pieces are all over the world. Including this one in Cartagena. his style is modern and one of largess. The sculpture park here in Medellin is a kick ass afternoon wander. Although numerous people informed me that the park can be quite dangerous at night.

the pieces collected here represent a cross section of his work Be sure to take an afternoon and discover this plaza in the middle of the city. Enjoy a lemonade de coco, and taste this neighborhood. Bring an umbrella as it may rain for a bit. Watch the clouds roll in and take it easy for the down pour. The art scene here is indicative that this city is so much more than the single story of drugs, cartels and violence. The layers here prove amazing, as does the scenery with the mountains always in the background.

Medellin is a place I’ve barely begun to unwrap and I’m already hungry for more.

More coming soon!

From Cartagena with love.

On By TheGypsyProfessorIn Adventure, Caribbean, Cartagena, Colombia, History, Monday, Travel, Wanderlust3 Comments

So, now 5 days into this charmed city on the Caribbean and what have we learned? We arrived famished and eager, taking it all in and pushing forward despite all odds. What an absolute blast. This is a kick ass city. Effortlessly grand, historic, bustling and hot. Stupendously hot. This city practically pulses with a beat, salsa in nature, well into the early hours. The ceviche is fresh, bursting, addicting.

I switched it up for this run, slowed it down and dug deeper into the places I’m in. 3 weeks in Colombia should give an ample snapshot of this incredible place. A few of the benefits of this approach will be discussed here. First and foremost, I’ve been treated to an absolute dream in wandering the walled city after an epic storm.

I slept late to the rain and thunder, then ventured out to explore the famed “walled city”. This is the first Spanish settlement on the South American continent. Built to protect against Sir Francis Drake and other British pirates as the quest for new world riches began in earnest. this place bleeds history, and walking these streets is an experience in itself. No all inclusive triple sec high fructose soaked pool bar here, surrounded by people who look, talk, and act like you…leave that shit for the cruise ships. Get lost. Find something amazing.

one amazing thing I encountered is when traveling alone…do me a favor, and throw your phone in airplane mode. At this point all the wireless carriers offer day passes or data allotments…but try this for a day. Only check your phone a few times a day when WiFi is avail. Be ACTUALLY present in the moment. By face fucking your phone, and taking more pictures of your beer than drinking it, you are missing out on everything around you. Strike up conversation, engage someone, ask for directions and struggle with the language, that is the very essence of traveling. You will be pleasantly surprised by this miniature “digital detox”. Through the process above I’ve met some amazing people. Even in the few days here. By staying a bit longer, it’s allowed me to dig in deeper to the culture with the help of some local awesomeness. Case in point, a few nights ago, my buddy Alejandro and I, who I met randomly asking for directions came across an amazing couple in a local market. They decided since it was my first time in Cartagena, that I must have their favorite arepas. A matter of pride and graciousness. I didn’t need to consult trip advisor, or Facebook, or read a damn review. We walked and chatted with them for a few hours and indulged local history, cultural insight and amazing street food. when we arrived at this stand, I was the only non local there. This is exactly what it’s all about. Meet some locals, fall in love with a location. Struggle a bit, find your groove, put your phone away and enjoy.

Cartagena, it’s people, it’s architecture, history and flavor all prove intoxicating. Warm and easy, this place has it all. I leave tonight for the mountains, as they are always calling. Medellin coming up next!

No surrender, no retreat.