Cadillac Reverses Out of the Big Apple
September 30 2018 - 8:29AM
Dow Jones News
By Spencer Jakab
Well, that is one way to attract new talent.
The new boss of Cadillac, the luxury division of General Motors,
put a brave face on the company's office-location reversal, which
will see its headquarters move from chic Manhattan to the suburb of
Warren, Mich. Being in New York temporarily helped it attract
employees it might not have, he said.
Now, if those employees want to keep their jobs, they can move.
On the bright side, the third largest city in Michigan has about
15% of New York City's population density, giving the transfers
more opportunity to drive the cars they market. Only 8% of
households there get by without a car. compared with over half of
those in the Big Apple. On the other hand, fewer may be luxury
rides. The average household income in Warren is $46,000, less than
a third what it is in Manhattan -- and about the price of the
average Cadillac.
Write to Spencer Jakab at spencer.jakab@wsj.com
(END) Dow Jones Newswires
September 30, 2018 09:14 ET (13:14 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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