Home prices edge up in Detroit area
The big picture: 12 of the 50 largest metros saw prices dip compared to a year ago, per the real estate site.
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CBS News
7 hours ago
- CBS News
Residents in Detroit neighborhood sue Detroit Thermal over controversial steam project
Many residents in Detroit's Lafayette Park neighborhood have been fed up for months over controversial plans surrounding Detroit Thermal's plan to dig in their neighborhood to expand their steam vents. And this ongoing battle between residents living in a collection of townhomes on historic Detroit land and Detroit Thermal continued Wednesday at a Historic District Commission meeting Wednesday afternoon. The Historic District Community held a special meeting regarding this controversy.. That meeting went on for over 5 hours. Eventually it was decided this project from Detroit Thermal can continue but with many guidelines. Neighbors living in the nearly 200 townhomes in the Lafayette Park Historic District have filed a lawsuit with Detroit Thermal over plans to use the historic district's property as a throughway while connecting the 1300 Lafayette East Cooperative building across the street to steam heat. Sam Schaefer, who lives in the Lafayette Park Historic District said, "The messaging we've gotten from the company has been like this is the only way or we've researched all the options and tearing up your neighborhood must be done." A Detroit Thermal spokesman said in a statement in part- "This is a baseless and frivolous lawsuit selfishly filed by a few misguided Lafayette Park residents who seem determined to prevent 600 of their neighbors at 1300 East Lafayette Cooperative from receiving safe, reliable, clean and affordable heat in time for winter," The Lawsuit names three major concerns- That this work would be a Threat to a National Historic Landmark, that Detroit Thermal has no legal right to access and work on this property, and that this project would serve no benefit to the historic right all while serving an external property. Schaefer said, "The people in this neighborhood want this neighborhood to continue to work the way it does cooperatively and the people in that building need heat and we want both of those things to happen. And Detroit Thermal is dividing us with a wedge saying the only way this can happen is by pinning us against each other." I spoke with Angela Fortino, a resident here who was at the meeting this evening and she told me this decision by the HDC is very upsetting and now it's up to her and everyone of her neighbors to make sure that Detroit Thermal is staying within those guidelines.
Yahoo
7 hours ago
- Yahoo
J&V Energy Wins Dual Honors at 2025 Asia Responsible Enterprise Awards for Environmental Leadership and Community Impact
BANGKOK, July 3, 2025 /PRNewswire/ -- J&V Energy Technology (6869-TW), a leader in integrated sustainable development and circular economy solutions in Taiwan, has earned global recognition for its sustainable initiatives, securing two prestigious awards at the 2025 Asia Responsible Enterprise Awards (AREA). The company was honored with the "Green Leadership" and "Social Empowerment" awards, solidifying its position as a regional pioneer in energy transition and environmental stewardship. At the awards ceremony held in Bangkok on June 27, J&V Energy General Manager Shu-Min Chao emphasized the significance of the dual accolades as both a validation of the company's ESG performance and a reflection of Taiwan's growing presence in the global clean energy space. "As a homegrown renewable energy leader, we are dedicated to sharing Taiwan's expertise and driving cross-border partnerships to scale the green energy ecosystem across Asia-Pacific," she said. Chao added, "True sustainability isn't just about cutting carbon—it's about uplifting communities, bridging gaps for the underserved, and weaving green practices into everyday life. We see CSR as a catalyst for hope, building a sustainable future where clean energy leaves no one behind." Organized by Enterprise Asia since 2011, AREA ranks among Asia's most prestigious CSR accolades, celebrating outstanding ESG practices, social impact, and governance innovation. The 2025 edition received over 350 entries from 19 countries and regions, with J&V Energy emerging as a standout for its sustainable innovative leadership. The "Green Leadership" award honored J&V Energy's flagship initiative Redefining Sustainability: Leading a New Net-Zero Future through Diverse Green Energy. The project—spanning solar power, energy storage, and green electricity trading—has deployed 1GW of solar capacity, helping businesses meet RE100 and net-zero targets. By exporting Taiwan's renewable energy model to Southeast Asia, the project reinforces the island's role in advancing Asia-Pacific's energy transition. The "Social Empowerment" award honored J&V Energy's "Green Advocates · Pioneers in Action" program, which drives public engagement through solar system donations, educational workshops, and partnerships with local sports organizations. The initiative has raised energy-saving awareness in rural communities, schools, and recreational facilities. J&V Energy's pioneering "4C Strategy" (Circularity, Conservation, Communication and Cooperation) drives its comprehensive sustainability mission, spanning green education, social equity, ecological preservation and community wellness. Recognized as an industry Green Pioneer, the company fosters multi-stakeholder collaborations to create an inclusive sustainability ecosystem—an achievement that garnered exceptional acclaim from AREA judges. Looking ahead, J&V Energy plans to strengthen its leadership in Taiwan's renewable energy sector while advancing integrated clean energy solutions and cross-sector innovation. The company remains focused on global expansion, forming international partnerships and mobilizing cross-border resources to accelerate the transition to a net-zero sustainable future. View original content to download multimedia: SOURCE J&V Energy Technology Co., Ltd. Sign in to access your portfolio
Miami Herald
9 hours ago
- Miami Herald
Popular pizza chain franchisees close locations, no bankruptcy
The pizza restaurant sector has battled rising operating costs since before the Covid-19 pandemic, which forced some businesses to reorganize and restructure debt. Increased food and labor costs driven by rising inflation took their toll on the pizza dining industry. The average cost of food increased by 29%, and labor costs rose by 31% from 2019 to 2024, according to the National Restaurant Association. Don't miss the move: Subscribe to TheStreet's free daily newsletter Menu prices also increased, as average prices rose by 27.2% from February 2020 to June 2024. Related: Popular restaurant chain franchisee files Chapter 11 bankruptcy Add fierce competition to the equation, and the economic challenges can force restaurants to restructure their businesses out of court, reorganize in a Chapter 11 bankruptcy, sell assets, and sometimes permanently shut down. In some cases, pizza chains or their franchisees will file for Chapter 11 bankruptcy to reorganize and continue as a going concern. East Coast pizza chain Bertucci's Restaurants has used the bankruptcy court successfully to reorganize and remain in business, as it filed for Chapter 11 protection three times in seven years. Bertucci's filed for Chapter 11 bankruptcy the first time in April 2018 to sell its assets, and it operated 31 restaurants when it filed for bankruptcy protection in December 2022. Bertucci's filed for bankruptcy a third time on April 24, 2025, and had 15 remaining restaurants in its chain when it filed. Franchisees of major pizza chains also filed for bankruptcy protection to sell or close locations. Huge Pizza Hut operator EYM Pizza L.P. filed for Chapter 11 bankruptcy protection in July 2024 and sold 77 of its restaurants at a bankruptcy auction. Legendary Buddy's Pizza, which claims to have invented the iconic square-shaped Detroit-style pizza, closed its Portage, Mich., location, suffering lingering effects from the Covid pandemic, supply chain disruptions, staffing shortages, and rising costs of inflation. The company did not file for bankruptcy. Buddy's Pizza currently operates 15 full-service pizza restaurants throughout Michigan, and another five carry-out only locations. Finally, CiCi's Pizza chain franchisees in Alabama and Florida have closed several restaurant locations, but also have not filed for bankruptcy protection. Related: Popular restaurant chain files bankruptcy, closes locations The pizza chain's Alabama franchisee Buckshot Enterprises LLC recently closed three locations in Florence, Northport, and Huntsville, Ala., Tuscaloosa Thread reported. The three locations were reportedly closed, according to social media posts and signs on the businesses' doors. More bankruptcy: Iconic auto repair chain franchise files Chapter 11 bankruptcyPopular beer brand closes down and files Chapter 7 bankruptcyPopular vodka and gin brand files for Chapter 11 bankruptcy The Florence location reportedly closed permanently in mid-June, the Northport restaurant's last day of operation was on June 29, and the Huntsville location has not been confirmed as closed, but the business's phone was not operating during normal store hours. Calls to all three Alabama locations were not answered. Another longtime CiCi's location in Uptown Center in North Naples. Fla., closed on June 9 after operating for almost 20 years, Gulfshore Business reported. The local franchisee reportedly decided not to renew his franchise agreement with the national restaurant chain, since he didn't want to commit to another 10 years. If the franchisee renewed his agreement, he would have to bring his 20-year-old store up to the company's latest specifications, which would be costly. Franchisee Philip Santucci was unsuccessful in trying to find someone to take over the franchise. He said a transaction was a hard sell, since the business and all its equipment are 20 years old, and it would be expensive to remodel the restaurant and buy new equipment. Santucci was the original general manager when the restaurant opened in 2004, and he bought the franchise five years ago in 2019 before the Covid-19 pandemic. The restaurant recovered from the pandemic in about two years. The restaurant owner, however, said it was time for him personally to move on. CiCi's Pizza, founded in 1985, has about 270 locations in 22 states, according to its website. Related: Iconic San Francisco restaurant closes permanently after 40 years The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
