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07:04 PM
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Built in Detroit, the new Shinola knows what time it is
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 44127055:MV8yMzA0OTI1XzM5MjU0NjgyX0ZDRDczRDhF] [quote:Anonymous Coward 42392596:MV8yMzA0OTI1XzM5MjU0NTEwX0MxNUQ1OUIy] You do understand that this is a foreign investment that our feds pay the investors for right? The watches will fail It makes no sense The bikes could work but 30,000 SF in that climate the heating alone will sink the project. Economics is not rocket science [/quote] Kartsotis, 53, is best known for founding Fossil FOSL -0.64%, the popular accessories brand. He was CEO from the start in 1984 until 2000, and remained chairman until 2010 while gradually reducing his stake to less than 5 percent. His brother, Kosta, now runs the Richardson, Texas, company. Since then, Tom Kartsotis, whose last-reported Fossil holdings are worth an estimated $320 million, has been pouring most of his resources into his venture capital firm, Bedrock. It invests in U.S.-based manufacturers like Seattle-based Filson, the 116-year-old outdoor clothing company it bought last year. [/quote]
Original Message
What does the name of a snuffed-out brand of shoe polish and a Detroit manufacturing revival have in common? It sounds like the start of a bad joke—especially in light of this week's major municipal bankruptcy filing. While there is a punchline, the answer tells a compelling story of entrepreneurship, patriotism and profits.
[
link to www.cnbc.com
]
In Bankrupt Detroit, Shinola Puts Its Faith In American Manufacturing
Bedrock commissioned a focus group and asked participants whether they preferred a $5 pen from China, a $10 pen made in the USA or a $15 pen made in Detroit. People preferred the cheaper Chinese pen, but were willing to pay the higher premium for one made in Detroit.
[
link to www.forbes.com
]
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