May 01
by: Travis Wright
Two Detroit business tycoons are making big moves.
Chrysler CEO Sergio Marchionne announced the company will support the M-1 Woodward Avenue light-rail project by committing three million dollars over five years to sponsor one of the stations along the 3.3-mile route from downtown Detroit to New Center.
He made the promise to real estate mogul and Quicken Loans founder Dan Gilbert, a principal supporter of the M-1 project. Returning the favor, Gilbert said he’d take on a leadership role with the United Way for Southeastern Michigan, of which Marchionne is the fund-raising chair. Dollar, dollar bills ya'll.
This all went down just before Chrysler inked a deal to lease two floors of space and move 70 people downtown to the former Dime Building, which Gilbert scooped up during last summer's real estate pillaging. It's been renamed the Chrysler House.