economics

Peter Payette / Interlochen Public Radio

The U.S. Department of Agriculture will buy $30 million of tart cherries from domestic farmers this year, according to Rep. Jack Bergman (R-Watersmeet.)

"The tart cherry industry has gone above and beyond to fight adverse circumstances facing their market, including the unfair dumping of cheap imports from Turkey and other foreign countries," Rep. Jack Bergman (R-Watersmeet) said in a press release.

The tart cherries will be used in federal food assistance programs like the National School Lunch Program.

Peter Payette / Interlochen Public Radio

The U.S. International Trade Commission and the Department of Commerce announced Friday that they will investigate cherries imported from Turkey.

Tart cherries are the largest crop in northwestern lower Michigan, and growers here say they can't compete with Turkey. Some Turkish tart cherry products sell for half the price of domestic ones.

Ben LaCross, a grower in Leelanau County, says to break even he needs to make around 25 cents per pound for his tart cherries.

Two-thirds of all restaurants will fail within three years of first opening their doors, a statistic that could be attributed to an owner’s desire for expansion only after a few months of profits.

“Hometown Holdouts” is a new e-book that breaks down the success of businesses that chose to stay local, despite nationwide recognition. Author Micheline Maynard says "hometown holdouts" benefit their communities, and resist the pressure to expand.

Drilling for oil and gas in Michigan is down to levels not seen since the Great Depression.

And so far, newer methods of hydraulic fracturing, or fracking, are not producing a new boom for the industry.

The number of permits issued for new oil and gas wells so far this year is on track to be the lowest in more than 80 years.

Michelle Balconi believes you can make economics something to “chat about” – and you can do it in a book aimed at children.

She’s a writer and a mother from Grosse Pointe Park who has teamed up with renowned Reagan administration economist Arthur B. Laffer and Clinton Township artist Mary Kinsora to create the book Let’s Chat About Economics, a nuts-and-bolts guide to economics.