I am not a huge newspaper reader, nor do I read about businesses very much, but for the past few years at my new job my boss has gotten a subscription to Crain’s Detroit Business Magazine and each week the paper makes its way around the office and eventually ends up on my desk. Now that I’ve read at least 20 of these, I’ve found quite a bit of interesting stuff! Here’s a few of the things I’ve learned/features I’ve seen in the Magazine.
Crain’s Online
This newspaper is also available online http://www.crainsdetroit.com/, however on that website you cannot read all the articles, only some of them. But if you want a taste of the paper before you subscribe, then visit the site and you’ll get a pretty good idea.
It’s Local!
Before I go into the details of the magazine, the best part about it is that it is LOCAL! When I read about the businesses and entrepreneurs, it is all about people and places that I’ve shopped at, driven by or heard about before. It’s nice to see who in your local area is giving a lot, or what businesses are earning the most money. It may even be interesting for those who used to live in the area and have since moved. See what’s going on all around the Detroit Metro area!
Regular Issues
The regular issues vary somewhat, but here or some things you’ll find.
1. This Just In: On the front of most every issue there is a yellow box explaining the newest business, or most recent business transaction. For example “City of Pontiac to sell Phoenix Plaza to county” Here you can read a short 2-3 paragraph article, and turn the page for even more Just In’s.
2. Just like a newspaper, there is the beginning’s of 2 or 3 articles to show you what this issue is all about. “Drug War” is on the front of one, but it’s not about crime and drugs… instead it is about the world’s biggest selling drug, Lipitor, which was created in Ann Arbor. Pretty interesting title! It got my attention.
3. On about page 3 of every issue you will see “Crain’s Index” This is a short small font-size list that names businesses found in this issue and what page they are discussed on. For example “DTE Energy” is found on page 4 and 12. Why? You’ll have to turn to those pages to see but at least you have a quick reference of every business that is discussed.
4. Example article: How about another sample. Crain’s tends to talk about things that are now, and therefore they are of interest to me. One recent article talked of how “Automakers to appeal to all senses at auto show” and discusses how they plan to have more things to touch and smell to enhance your auto show visit.
5. Advertising is all over the place! So although the paper is 25-30 pages, almost every other page has an ad with some of them being full page. Ads focus on things that businesses might need such as Cell Phone Plans for business use, places to store your money, or places to buy the things every business needs. I just pass right by these but if you are a paid subscriber you may feel slightly ripped off.
6. Cartoons! Each paper has a cartoon, some are funny…some are ???? what??? but overall it’s business based so if you don’t know what news/business they are talking about it won’t be funny. One cartoon was joking about all the emergency plans that will be in place for the superbowl in Detroit. No not emergency security plans, but emergency snow removal plans! Everyone knows snow can fall just like that over here, but I sure hope it doesn’t!
7. Opinion is a section written by … I have no idea because it doesn’t say. Here a few big issues are tackled by an opinion on one side or the other. For example one statement tells Gov Granholm to “grow a thicker skin” and show some action. Whoever writes this or wherever this comes from just says whatever is on their mind regarding certain topics.
8. Letters are printed in response to articles and statements made in previous issues of the Crain. Here’s your chance to speak your mind! Whether you agree or disagree with an article, or just want to add something, you have a chance at getting into the paper.
9. Keith Crain writes a piece in each article about what’s going on recently as in this article about the Auto Show coming and how it should be treated as a dress rehersal for the superbowl. Another one of his articles discusses the Christmas tradition of passing on fruit cakes! He gives a more light-hearted view of events.
10. Other sections vary as one paper I have right now has a whole Executive Life section and another paper I have has a whole Focus section. So as you can see they do manage to mix it up a bit. You aren’t getting the same sections every week.
11. People is a half page list with pictures of People who have been doing well. Basically it’s about promotions and gives a snapshot of people who have moved up in the business world.
12. Business Diary is also a nice section that gives snapshots of businesses who’s names are changing, offer new services or expand. It’s kind of a short and easy way to let you know that “The Michigan Department of State” is combining two offices into one, or other facts of that nature.
13. Crain’s Classified is a page or two containing some announcements, services, commercial and residential properties. Of course I don’t plan to spend 375,000 on a condo, so this section seems to be more for business owners and people who can afford that kind of thing!
14. Although I don’t see it in either of these current issues, a lot of times there is a zoom-in look at an executives house. This is fun to read and shows pictures of the houses as well as what the person did to get that. If you are looking to build your own business, this is a great section to read for motivation! I am not planning to ever run my own business, but I love houses so it’s an interesting read regardless.
15. Finally, there are special articles and sections throughout that may or may not spark your interest. One that I found interesting was about wedding trends for 2005. Since my brother was in the process of getting married at the time, it was interesting to read what’s popular and what’s not.
Special Issue – Book of Lists
Every year, I get this HUGE Book of Lists on my desk which I think is quite interesting. In the regular issues, there is often a list of some kind. This special edition combines all these lists into one place and updates them. Subscribe to Crain’s to get this special edition once a year.
This edition is divided into 7 section: Public and privately held, Top employers, Automotive industry, Real estate, Fiance, Health care and Technology/services. Each section has it’s own group of “lists” containing businesses all over the Detroit Metro area.
Top Employers sounds interesting, let’s check that one out! Here there is a list of 20 largest Black-owned businesses, 10 largest Hispanic-owned businesses, 5 largest Native American and 25 largest woman-owned. Each list has data such as Company name and address, Majority owner, Revenue as compared to previous year, and number of employees compared to previous year. Finally, each list has a “spotlight” section that shows a chart of the biggest owned businesses in that category for previous years and a few other interesting details.
This section also contains list for the Largest Employers grouped by area (Detroit, Livingston, Oakland, Macomb, Wastenaw and Wayne) For Wayne county, Ford Motor is number 1 with 47,091 full time employees! The rest on the list don’t even come close with the second being Oakwood Healthcare with only 7,515 employees.
As you can see, there are plenty of interesting facts in this book! I don’t always know how useful this data is but it is does give you some knowledge of your local businesses. Other sections contain lists such as Largest Shopping Centers, Largest Hospitals, Largest Hotels and Largest Commercial Radio Stations. Some of this is just interesting data, and some may give you an idea of where to stay, shop or what stations to check out… because if everyone is doing it, maybe you should too.
Shape and Size
I don’t know why they call it a magazine because it has the look and size of a newspaper. It’s like a slightly shorter version of your local news at about 13″ x 10.5″ The regular issues are usually between 25 and 30 pages, but I have gotten larger issues in the past. It’s not quite something you can easily shove in your bag, but if you fold it in half it’s manageable. Of course I usually only read these at work so it’s no problem to me!
Conclusion
I think I said enough about this to make you at least check out the website. I’ll say it again that the best part is that it is local. Read about your local stores and restaurants. Hear who’s business is booming and find some hot spots! A common feature is articles that describe business owners who are giving a lot to charity and such. So you can read those articles and support those businesses that give.
Check out the website, and see if you know anyone who will let you borrow this. I wouldn’t get this if I had to pay for it, but since it’s passed to me every week it’s worth the look. Enjoy!
