Michigan Economy, Election for Governor
From today's WSJ, an article about the Michigan economy and the upcoming election for governor - incumbent Jennifer Granhom (D) vs. the billionaire challenger Dick DeVos, who has spent $16 million of his own money from the Amway family fortune!
What's an anti-business Democratic governor to do to get re-elected when the job picture is so bleak (see graph above)?
Ms. Granholm isn't considered particularly pro-business, having relied heavily in her first term, as do most Democratic politicians here, on union support. Her campaign against Mr. DeVos has included traditional Democratic business-bashing, with jabs at her opponent for decisions he made at Amway. In the 1990s, Mr. DeVos oversaw the elimination of about 1,400 jobs and turned the company toward the world's biggest potential market: China.
While other states dispense incentives to companies, few governors have done as much and as fast as Ms. Granholm -- especially during a re-election campaign. In August and September, Granholm-controlled development boards doled out $315 million in tax breaks and loans.