Time Inc. Buys a $99k Home in Detroit

Bill McGraw of the Motor City Journal reports on Time Inc.'s purchase of a Parker Avenue home in Detroit for $99,000. The home (which sold for $252,000 a few years ago but has been for sale for two years now) will be the base of operations for some serious storytelling in the magazine publisher's portfolio of magazines, which range from the flagship Time to Sports Illustrated to This Old House.

This is an impressive angle to me for several reasons:

I love that it blurs the lines between residence and commerce. Setting up operations in a home is not a new idea, of course, but if the neighbors don't mind, it's an innovative way to get on the scene. Another example: a few years ago, and I can't find the link, I read about a Boston PR firm that had set up a summer house on the ocean as a sort of live showcase for new consumer brands, inviting waves of journalists to spend the weekend there.

This is also quite an investment for a publisher right now, considering the state of print. Sure, $99,000 is a modest NYC salary and they apparently paid cash. But in a time where many publishers are laying off people, cutting resources, and doing everything they can to find a workable business model - and Time itself closed its Detroit bureau about ten years ago - this is a considerable investment to be on the scene.

And finally, it illuminates not just the dire condition of Detroit's economy, but the national interest in doing something about it. If journalists believe one thing, it's that by telling stories in vivid, lifelike detail, they can make a difference by raising awareness. So it's a good sign that Time is coming to the neighborhood.

Fuzzy (but good) MPG Math

Not sure what to make of the math in calculating the gas mileage of the new electric plug-in powered Chevy Volt, per this CNN Money story by Peter Valdes-Dapena. Alternative automotive technologies and fuels is sure to be another favorite topic at the Toledo Rust Removal Company, especially due to the number of available resources (i.e. unemployed automotive talent) in our hometown and that little city just to the north, Detroit. It's my belief that Detroit should move QUICKLY to attract and/or incubate as many alternative fuel start-ups as quickly as possible while doing anything to support production of similar efforts by the Big 3- such as the Volt.

Anyway, the math is actually sound: since the Volt gets 40 miles out of its 10 kwh electric charge (costing about $.40), and only then starts using its fuel reserves. Since, after 50 miles, the car will have only used .2 gallons, we land at this very attractive MPG of 230. Its great for marketing, and even though it seems doubtful that will be the final number on the sticker, its a nice twist in the evolution of the key metric in the future of automotive: Miles Per Gallon.