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The state and national economy certainly have their share of mixed messages.
Even though statistically the Great Recession is over, the rebound has been slow and painful, with housing prices still falling, unemployment levels still far higher than pre-2008 and state and local governments contending with budget deficits that by law they must solve. Yet Michigan’s traditional economic engine — the automotive industry — seems to be improving, and there are a number of other companies that are doing well.
Corp! Magazine will recognize Michigan’s “Economic Bright Spots” at its fourth annual awards breakfast June 11 at the Michigan State University Management Center in Troy. Among the wide range of companies to be honored are an automotive dealership, software providers, law firms, a snack food manufacturer, financial institutions and landscapers.
A former professional DJ and product line manager for Delphi’s Consumer Electronics Group, Jake Sigal founded Livio Radio in 2008 in the guest bedroom of his Ferndale home thanks to a $10,000 loan from his parents. Since then, the Internet radio firm has taken off with more than 20 successful products available on the market.
“What makes us different and useful in this marketplace is offering consumers two things — more music, less work and no monthly fees,” said Sigal, the company’s CEO. “We are launching and selling products that make car Internet radio a reality, giving consumers an alternative to satellite radio and making more use of smartphones where they already pay a monthly usage. Smartphones are everywhere and data is getting faster year over year. These are the ingredients to bringing Internet radio into the car, and we are prepared with award-winning software applications for iPhone and Android plus hardware to bring Internet radio with you on the go.”
Michigan offers affordable rent and housing and direct flights to anywhere in the world. Now that Internet radio is coming into full bloom, Sigal said he expects to have many new competitors so his firm will need to rely on its customers’ continued support as it produces the next generation of gadgets to stay on top.www.livioradio.com